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NY S05593
Bill
Status
6/5/2025
Primary Sponsor
Shelley Mayer
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AI Summary
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Extends the initial suspension period for utility rate changes from 6 months to 9 months beyond the standard 120-day period, during which the Public Service Commission reviews proposed rate increases
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Requires all subsequent suspension extensions beyond the initial period to receive commission approval and limits each extension to one month, with mandatory review of financial impacts on customers before granting further extensions
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Establishes declining caps on "make whole" provisions that allow utilities to retroactively recover revenues: 90% recovery for months 1-2 beyond initial suspension, 70% for month 3, 30% for month 4, and 0% for month 5 and beyond
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Prohibits utilities from recovering lost revenues through future rate filings or charging interest on any deferred recovery amounts granted under make whole provisions
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Takes effect one year after becoming law and addresses concerns about approximately 1.5 million residential households at risk of utility shutoffs due to escalating rate increases
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
referred to energy
2/5/2026