Bill > A09215

This bill amends the New York public service law to limit how the Public Service Commission (PSC) can approve rate increases for utility companies. Specifically, the bill restricts the return on equity (ROE) for capital projects to no more than the current ten-year treasury rate plus one percent. The ten-year treasury rate refers to the annual interest rate the federal government pays on a ten-year treasury note, which serves as a benchmark for financial calculations. By tying the maximum allowable return on equity to this relatively low-risk government bond rate, the bill aims to prevent utility companies from charging consumers excessive rates for infrastructure investments. The legislation will take effect 60 days after becoming law and will apply to rate increases occurring on or after that date, giving the PSC immediate authority to begin implementing the new rate limitation rule.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/A9215