NY A01086

Requires each investor-owned public utility company to implement a consumer cost mitigation program approved by the Public Service Commission to mitigate increases in customer utility charges from rising energy supply prices.

Triggers cost mitigation adjustments when actual or projected energy supply cost increases result in anticipated customer utility charges rising at least 15 percent over the prior month, based on standard usage benchmarks of 600 kWh for residential customers and 1,500 kWh for small business customers.

Cost adjustments must be provided as credits on the supply portion of customer bills, clearly identified and prominently displayed on billing statements.

Requires utilities to post program details on their websites and provide written notice to customers explaining how the program works, including timing, duration, and payback periods for deferred costs.

Allows utilities to establish a cost recovery mechanism to collect deferred payments from customers over a minimum of 12 months unless the Public Service Commission approves a shorter period.