Prohibits utilities from raising rates while reporting high profits and requires reinvestment in energy infrastructure, safety, and reliability.

The Utility Profit Reinvestment and Rate Hike Ban Act prohibits gas and electric corporations from raising rates or charges if they report above-average profits. Utilities must reinvest at least 75% of their annual net profits into energy infrastructure, safety, and reliability. This includes grid modernization, reliability improvements, and maintenance. Corporations must submit annual compliance reports to the Public Service Commission, which will certify compliance and publish the reports. Non-compliance results in fines and restrictions on rate increases.

Prohibits utilities from raising rates while reporting high profits and requires reinvestment in energy infrastructure, safety, and reliability.

The Utility Profit Reinvestment and Rate Hike Ban Act prohibits gas and electric corporations from raising rates or charges if they report above-average profits. Utilities must reinvest at least 75% of their annual net profits into energy infrastructure, safety, and reliability. This includes grid modernization, reliability improvements, and maintenance. Corporations must submit annual compliance reports to the Public Service Commission, which will certify compliance and publish the reports. Non-compliance results in fines and restrictions on rate increases.