Source: United States House of Representatives – Congresswoman Haley Stevens (MI-11)
Washington, D.C. – Today, U.S. Representative Haley Stevens (MI-11) introduced the Stop Unfair Electricity Prices Act, legislation aimed at holding investor-owned utility companies accountable and protecting Michigan families from rising electricity costs while executives and shareholders reap significant profits. The bill penalizes any rate hikes that happened after January 1, 2026, meaning this legislation would actively cut Michigan families’ energy bills.
Over the past two decades, Michigan’s electricity rates have outpaced inflation and risen faster than in 46 other states. In that time, the average Michigan family has seen their annual electricity bill skyrocket by roughly $850.
Corporate utilities continue to raise costs on Michiganders while reporting strong profits and awarding massive compensation packages to their executives. In 2024, Michigan’s two largest corporate utilities paid more than $10 million each to their CEOs. Despite record profits, one of those utilities is now asking state regulators to approve yet another massive rate hike on Michigan families after recently raising rates.
The Stop Unfair Electricity Prices Act would give Michigan families a reprieve on electricity rate hikes for three years by imposing significant penalties on investor-owned utilities that raise rates:
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If they raise residential rates in year one, they lose their federal funding.
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If they raise residential rates in years two or three, they must cut executive pay by twice the percentage of the rate increase or lose their federal funding.
“Michigan families are paying more and more for electricity, yet too many are getting worse service in return,” said Rep. Stevens. “While hardworking Michigan families struggle to afford higher bills, corporate executives are getting richer off their backs. That is unacceptable. This legislation makes clear that if utilities want access to federal taxpayer dollars, they must put Michigan consumers first.”
Text of the bill is available here.
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