Bill > S05687

This bill amends the New York public service law to cap the profit margins of public gas corporations, public electric corporations, and municipal gas and electric companies at four percent annually. Specifically, the legislation defines "profit margin" as the return on equity allowed by the public service commission, meaning these utility companies would be legally restricted from earning more than a 4% return on their equity investments. The bill would take effect on the first day of January following its passage, with immediate authorization for regulatory bodies to prepare the necessary rules and regulations to implement the new profit margin restriction. By limiting utility companies' potential earnings, the bill aims to potentially reduce utility costs for consumers and prevent what legislators may perceive as excessive profits in essential public service sectors.

Transportation and Infrastructure

https://www.nysenate.gov/legislation/bills/2025/S5687