US State Legislatures Move to curb utility profits and rate hikes

Pennsylvania lawmakers advanced House Bill 2224, a bipartisan measure that would cap utility shareholders' return on equity at the 10‑year U.S. Treasury yield plus 2 percent. The bill, passed by a 202‑0 vote in the House, aims to limit excessive profits after a 60 percent rise in household utility bills over five years and now heads to the state Senate.

In Connecticut, a coalition of nearly 70 Democratic and Republican legislators sent a letter to the Public Utilities Regulatory Authority urging it to reject Eversource’s proposed 11 percent electric‑rate increase. Lawmakers argue the utility, which posted $1.69 billion in profit last year, should not pass its $503 million deficit onto customers, especially amid rising living costs. The request is under review and could affect rate‑payers if approved.