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NY A09827
Bill
Status
9/25/2024
Primary Sponsor
Didi Barrett
Click for details
AI Summary
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Requires the Public Service Commission to publish a plain language summary (one page or 500 words max) within 10 days of commencing any matter involving a major rate change for electric or gas service on the department's website.
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Initial summary must include the proposed rate term, total percentage and absolute rate change, average changes by customer class, explanation for the rate change, proposed return on equity, hearing timeline, and public comment instructions.
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Requires the Commission to publish a second summary within 10 days of issuing a final rate order, comparing the initially proposed and finally approved rates, revenue spending plans, authorized return on equity, and relevant mechanisms like earnings adjustments and affordability programs.
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Mandates the Commission send both summaries to state legislators representing affected territories and newspapers with general circulation in affected counties.
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Takes effect 60 days after becoming law.
Legislative Description
Requires the public service commission to publish certain information prior to a major rate change by a public gas or electric utility including an explanation of why the rate change is requested and a summary of how the proposed revenue will be spent.
Last Action
signed chap.333
9/25/2024