S. 5353 — No Bonuses for Utility Executives Act

This section limits bonuses for executives of covered utilities (i.e., State regulated electric utilities) beginning January 1, 2027, to fiscal years in which the average percentage increase in customer rates does not exceed the CPI-U increase for the 12-month period ending on the last day of that fiscal year. It caps any such bonus at 25 percent of the median annual compensation of non-executive employees, requires FERC pre-approval and post-payment compliance determinations, and mandates forfeiture of noncompliant bonuses with civil penalties redistributed equally to the utility’s customers.