No Bonuses for Utility Executives Act

This bill prohibits certain electric utilities from paying executive bonuses if their customer rate increases exceed the annual inflation rate (CPI-U). It directly affects state-regulated electric utilities not wholly owned by U.S. persons, including their C-suite executives (e.g., CEOs, CFOs). Key provisions require utilities to report rate changes and non-executive pay to FERC; FERC then determines if bonuses are allowed based on inflation and caps bonuses at 25% of non-executive median pay. Violations result in forfeited bonuses being refunded to customers, calculated by dividing the forfeited amount by the utility's customer count.