This bill, S.F. No. 2074, seeks to limit the amount of executive compensation that public utilities can recover from Minnesota ratepayers. Specifically:

• The Minnesota Public Utilities Commission cannot allow utilities to pass executive compensation costs onto ratepayers beyond the annual salary of the state's governor.
• The term "compensation" includes salary, incentive payments, and other forms of payment but excludes reimbursements and standard employee benefits.
• Utilities can still pay their executives more using funds from sources other than Minnesota ratepayers, such as private investors. However, the commission must ensure this does not unfairly burden ratepayers in other states.
• The rule applies to public utilities with at least 300,000 retail customers in Minnesota.

This bill aims to protect consumers from bearing excessive executive salary costs in their utility rates while still allowing utilities to compensate executives using other revenue sources.