Historically, the limits on profit were in exchange for the monopoly utilities had. That has been somewhat changing in areas where you can select the company generating the electricity.
It will be interesting to see how it plays out in most of Texas with ERCOT not under FERC regulations.
Well, FERC is supposed to only regulate companies that involve interstate utilities.
The article expressly states that "
FERC issued an order to that effect last week, and the State Public Service Commission is expected to begin proceedings shortly to decide what tax savings New York’s public utilities should pass along to their ratepayers."
I do not see a connection with interstate commerce here. Further, even if there is, how can a company's entire business including both intrastate and interstate be considered the domain of the feds by the feds demanding its profit be regulated?