Bill Text: NY A09827 | 2023-2024 | General Assembly | Introduced

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Bill Title: Requires the public service commission to publish certain information prior to a major rate change by a public gas or electric utility including an explanation of why the rate change is requested and a summary of how the proposed revenue will be spent.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced) 2024-04-16 - reported [A09827 Detail]

Download: New_York-2023-A09827-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          9827

                   IN ASSEMBLY

                                     April 11, 2024
                                       ___________

        Introduced  by M. of A. BARRETT -- read once and referred to the Commit-
          tee on Energy

        AN ACT to amend the public  service  law,  in  relation  to  information
          required  to be published prior to a major rate change by a public gas
          or electric utility

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section  1.  Subdivision 12 of section 66 of the public service law is
     2  amended by adding a new paragraph (l) to read as follows:
     3    (1) (i) The commission shall, within ten days of the  commencement  of
     4  any  matter  involving  a  major  change  in  a rate for electric or gas
     5  service, publish, in a readily accessible location on  the  department's
     6  website,  a  summary  in  plain language, not to exceed one page or five
     7  hundred words, to the extent such information is  available,  containing
     8  the following:
     9    (A) the proposed rate term;
    10    (B)  the  total  proposed  rate change, in both percentage change from
    11  prior rate year and absolute requested tariff value, including yearly or
    12  sliding scale breakdown if applicable;
    13    (C) the average proposed rate change for  a  residential,  commercial,
    14  and industrial ratepayer, including yearly or sliding scale breakdown if
    15  applicable;
    16    (D) an explanation of why the rate changes are requested and a summary
    17  of how the proposed revenue will be spent;
    18    (E)  the  proposed  return  on  equity in both percentage and absolute
    19  value over the total rate term;
    20    (F) an estimated timeline of relevant hearings, comment  periods,  and
    21  deadlines;
    22    (G) an explanation of how to submit public comment; and
    23    (H) any other information the commission finds relevant.
    24    (ii) The commission shall, within ten days of the issuance of an order
    25  adopting  a rate change for electric or gas service or a tariff relating
    26  to a major change in a rate for electric or gas service, publish,  in  a

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD15220-02-4
        A. 9827                             2

     1  readily  accessible location on the department's website, a summary, not
     2  to exceed one page or five hundred words, containing the following:
     3    (A) the rate term;
     4    (B)  the  total rate change, in both percentage change from prior rate
     5  year and absolute tariff value, including yearly or sliding scale break-
     6  down if applicable;
     7    (C) a comparison of the initial  proposed  rate  change  and  absolute
     8  tariff value and the final approved rate and tariff value;
     9    (D)  the average rate change for a residential, commercial, and indus-
    10  trial ratepayer, including yearly or sliding scale breakdown if applica-
    11  ble;
    12    (E) a summary of how the revenue will be spent;
    13    (F) the authorized return on equity in both  percentage  and  absolute
    14  value over the total rate term;
    15    (G)  a summary of other proposals relevant to ratepayers such as earn-
    16  ings  adjustment  mechanisms,  excess  revenue  allocation,  performance
    17  metrics, affordability programs, and additional fees; and
    18    (H) any other information the commission finds relevant.
    19    (iii)  In addition to the requirements of paragraph (b) of this subdi-
    20  vision, the commission shall send  such  summaries  to  members  of  the
    21  legislature  who  represent any portion of the territory impacted by the
    22  proposed change as well as newspapers having general circulation in each
    23  county containing the territory affected by the proposed change.
    24    § 2. This act shall take effect on the sixtieth  day  after  it  shall
    25  have become a law.