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NY A06951
Bill
Status
3/18/2025
Primary Sponsor
Zohran Kwame Mamdani
Click for details
AI Summary
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Extends the initial rate suspension period that the Public Service Commission can impose on utility rate changes from 6 months to 9 months beyond the original 120-day suspension
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Requires Commission approval for any subsequent suspension extensions beyond the initial period, with each extension limited to one month and subject to review considering the case duration, previous extensions, and financial impacts on customers
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Establishes declining caps on "make whole provisions" that allow utilities to retroactively recover revenues during extended suspensions: 90% recovery for first two months, 70% for third month, 30% for fourth month, and 0% for fifth month and beyond
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Prohibits utilities from recovering through future rate filings any revenues lost due to these limitations, and bars interest or carrying charges on any deferred recovery amounts
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Takes effect one year after becoming law
Legislative Description
Provides that subsequent requests for an extension of a suspension period for certain rate, charge or other changes by utilities shall require approval by the public service commission and shall be valid for one month, after which the commission shall review and determine the necessity of a further extension; provides limitations on retroactive rate recovery by utilities.
Last Action
enacting clause stricken
1/5/2026