Bill > A07542

This bill amends the public service law to cap the profit margins of public gas corporations, public electric corporations, and municipal gas and electric companies at four percent per year. Specifically, the bill defines "profit margin" as the return on equity, which is the return on the equity portion of the rate allowed by the commission. This means that these utility companies would be legally restricted from earning more than a 4% return on their equity investments annually. The legislation is designed to potentially lower utility costs for consumers by limiting the financial gains of these public service corporations. The bill would take effect on the first day of January following its passage, with provisions allowing for the immediate preparation of necessary rules and regulations to implement the law.

Agriculture and Natural Resources

https://www.nysenate.gov/legislation/bills/2025/A7542