NY A04068

Effective January 1, 2016: electric utilities cannot charge transition rates that vary by 50 percent or more month-to-month; utilities with such variations must offer customers a budget plan with stabilized rates.

Effective January 1, 2017: transition rates cannot exceed the mean transition rate charged during calendar year 2014.

Effective January 1, 2019: electric utilities are prohibited from charging transition fees entirely.

Utilities cannot charge transition fees in addition to or as a substitute for fees calculated using transition rates.

Defines "transition fee" as charges for utility costs, liabilities, and investments (such as uneconomic assets) that utilities would recover under the former regulatory structure but cannot recover due to electricity market restructuring and retail choice.