The bill would require FERC to establish a three-point return-on-equity range for transmission providers and generally use its lowest point, subject to specified adjustments and an exception for clear and convincing evidence. Covered investor-owned electric and gas utilities would calculate comparable ranges, adjust them for specified reduced-risk factors, and generally use the lowest point. The bill would also prohibit recovery of numerous costs through rates, require lower-cost alternatives and regional planning for certain transmission investments, repeal Federal Power Act section 219, and require regulations within 120 days.

FactVote-generated overview; it is not an official CRS summary.