Lowering Utility Bills Act

This bill, known as the Lowering Utility Bills Act, aims to reduce electricity and natural gas costs by regulating how utility companies calculate their profits and what expenses they can pass on to customers. It requires transmission providers and investor-owned utilities to determine a reasonable profit range based on historical stock market returns from academics, large financial institutions, and major global banks, then generally limits their authorized profit to the lowest point in that range. Additionally, the legislation bans utilities from recovering specific costs in customer rates, including lobbying fees, political contributions, executive travel, and entertainment expenses. The bill also mandates that utilities prioritize lower-cost grid technologies in their planning and requires them to publicly justify any decision to use a higher profit rate than the standard minimum.