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NY A10533
Bill
Status
Introduced
3/6/2026
Primary Sponsor
William Conrad
Click for details
AI Summary
- Requires investor-owned gas and electric corporations in New York to refund 100% of earnings that exceed their authorized return on equity by more than 50 basis points (0.5%)
- Mandates refunds be issued as direct bill credits to ratepayers within 90 days of a Public Service Commission determination, with clear labeling on bills
- Prohibits the Commission from approving settlements or rate plans that allow utilities to retain revenues exceeding the earnings collar
- Requires annual reconciliation of achieved vs. authorized return on equity, with refund requirements only suspendable for extraordinary circumstances like natural disasters
- Directs the Commission to submit annual public reports to the governor and legislature detailing authorized and achieved returns, refund amounts, and five-year delivery charge trends
Legislative Description
Requires certain investor-owned gas or electric corporations to refund ratepayers when their achieved return on equity exceeds authorized rates of return by fifty percent.
Last Action
referred to energy
3/6/2026
Committee Referrals
Energy3/6/2026
Full Bill Text
No bill text available