NY A09426

Caps residential and small business electricity rate increases at 2.5% annually unless the utility proves the increase is necessary for reliability and all internal cost savings have been exhausted; proposed increases above this cap trigger a mandatory 180-day pause for enhanced review

Requires monthly electric bills to include itemized breakdowns showing infrastructure costs, New York Power Authority contributions, and other surcharges including renewable energy programs and public policy charges

Establishes a Utility Accountability and Audit Unit within the Department of Law and Department of Audit and Control with subpoena power to audit utility finances, investigate complaints, and review executive compensation tied to ratepayer-funded activities

Authorizes civil penalties up to three times the amount improperly collected against utilities found to have overcharged ratepayers or imposed unapproved fees, with mandatory refunds to customers

Creates a Community Affordability Protection Program providing electricity bill discounts of at least $25 plus half of transmission fees for households at or below 80% of county-level median income

Prohibits utilities from recovering costs of executive bonuses, incentive compensation, or shareholder dividends through ratepayer charges