With energy bills soaring, shutoffs increasing, and utility monopolies earning record profits, the General Assembly must take up its duty to ensure rates are fair and aligned with the public interest.
To that end, I will soon introduce targeted, pro-consumer legislation to remove an unnecessary incentive adder that flows directly into customer bills.
Under current policy overseen by the Federal Energy Regulatory Commission (FERC), investor-owned utilities receive a 50-basis-point profit bonus as an incentive to join a regional transmission organization (RTO). This incentive was designed to encourage voluntary participation. However, when participation is mandated, the bonus no longer serves a public purpose; it becomes a guaranteed windfall for monopoly utilities at ratepayer expense.
This bill corrects that imbalance. It ensures utilities comply with RTO participation requirements while directing them to file with FERC to relinquish the incentive payment. At a time when utility shareholders are earning record profits and households face rising costs, this reform helps restore fairness and accountability.
I urge your support for this commonsense measure to protect consumers and ensure our energy system works for everyone.