Bill > S08915

This bill aims to stabilize electric costs for New York consumers by capping annual residential and small business electricity rate increases at two and a half percent, unless necessary for reliability and after all internal cost-saving measures are exhausted; it also mandates a pause of at least 180 days for any proposed rate increase exceeding this cap, during which an enhanced review will be conducted by the Public Service Commission and a newly established Utility Accountability and Audit Unit, which will also oversee transmission charges, delivery fees, and add-on surcharges, requiring them to be individually justified and subject to the same scrutiny unless tied to federally mandated reliability requirements. Furthermore, the bill requires electric utilities to provide an itemized breakdown on customer bills detailing charges for infrastructure, contributions to the New York Power Authority, and other investments like renewable energy programs, with the Public Service Commission establishing uniform standards for clarity and conducting biennial reviews of non-supply items to ensure they are directly related to services, not duplicative, and do not exceed actual costs. A new Utility Accountability and Audit Unit will be established within the Department of Law and Department of Audit and Control to conduct independent audits of utilities, investigate consumer complaints, review executive compensation and profit margins tied to ratepayer funds, issue subpoenas, compel testimony, provide public quarterly summaries, and impose penalties, including civil actions for overcharging or unapproved fees, seeking penalties up to three times the improperly collected amount and mandatory refunds or rate credits. Additionally, a Community Affordability Protection Program will be created to provide a discount on electricity bills for households at or below 80% of their county's median income, offering a credit of at least $25 plus half of any transmission fees, funded by penalties collected by the audit unit, utility overcharge recoveries, and appropriations. Finally, electric corporations will be prohibited from recovering the costs of executive bonuses, incentive compensation, or shareholder dividends through ratepayer charges.

Transportation and Infrastructure

https://www.nysenate.gov/legislation/bills/2025/S8915