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NY S01847
Bill
Status
1/27/2025
Primary Sponsor
Leroy Comrie
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AI Summary
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Requires the Public Service Commission to consider the economic impact on consumers and the service area when determining whether utility rates are "just and reasonable" for gas, electric, steam, water, telegraph, and telephone corporations
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Defines "major increase" as rate changes that would boost a utility's aggregate revenues by more than $300,000 or 2.5%, whichever is greater
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Mandates the commission review unemployment data, median income information, and number of persons receiving social services assistance in the affected service area before approving major rate increases
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Requires analysis of average monthly utility bills for each customer class, estimated bill increases, and comparison to federal Consumer Price Index data on cost of living and fuel/utility costs
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Applies to all rate increase requests submitted after the bill's effective date
Legislative Description
Requires consideration of evidence relating to the economic impact of major increases of rates or charges upon consumers and the areas affected by such increases of rates or charges prior to approval of any such rates or charges; establishes minimum data to be considered by the public service commission relating to such economic impact.
Last Action
referred to corporations, authorities and commissions
2/5/2026