BILL NUMBER: S8915
SPONSOR: MAY
 
TITLE OF BILL:
An act to amend the public service law, in relation to stabilizing elec-
tric costs for New York consumers, restricting unreasonable rate and fee
increases, and establishing additional auditing and enforcement authori-
ties
 
PURPOSE:
This bill would enact restrictions on electrical providers' reach and
lower costs for New Yorkers. The act will cap and stabilize electric
rate increases, restrict hidden and excessive add-on fees, create an
independent audit commission, and ensure accountability from utilities
operating in the region.
 
SUMMARY OF PROVISIONS:
§ 2 Amends subdivision 12 of section 66 of the public service law to
prevent the commission from increasing residential or small business
electricity rates by more than 2.5% annually unless extreme circum-
stances require it. This limit cap is also applied to all transmission
charges, delivery fees, and add-on surcharges.
§ 3 Amends section 44 of the public service law to require all electric
utility corporations, energy service companies and municipalities to
provide customers with an itemized breakdown of their electricity bill's
contents each month. Also requires biennial reviews by the commission to
ensure these costs and add-on fees are justified.
§ 4 Creates section 66-x of the public service law that establishes the
utility accountability and audit unit. This unit shall conduct independ-
ent audits of utilities' financial matters, investigate consumer
complaints, review executive compensation and profit margins, create
testimonies and reports as applicable, and impose penalties against
utilities in accordance with the section. Such penalties will be applied
if utility companies are found to have overcharged ratepayers, misrepre-
sented financial needed, or imposed unapproved fees. Relevant fines and
penalties are detailed.
§ 5 Creates section 66-y of the public service law that establishes the
community affordability protection program. This program shall provide
eligible households at or below eighty percent of the county-level medi-
an income with a minimum $25 electricity credit, as well as an amount
equal to half of any transmission fees charged by the utility. This
program will be funded by civil penalties collected under the utility
accountability and audit unit and through state appropriations.
§ 6 Amends section 65 of the public service law to restrict electric
corporation furnishing utility services from recovering executive bonus-
es, incentive compensation, or shareholder dividends through ratepayer
charges.
 
JUSTIFICATION:
Residents of New York State are facing disproportionate increases in
electricity rates, transmission fees, and miscellaneous surcharges. The
utility companies responsible for these charges have continuously gone
undermonitored and residents have struggled as a result. This bill
directly addresses consumer's concerns by limiting electric companies'
ability to impose excessive fees, conducting regular auditing, and
streamlines the process for consumer concerns to be addressed.
 
LEGISLATIVE HISTORY:
New bill.
 
FISCAL IMPLICATIONS:
To be determined.
 
EFFECTIVE DATE:
This act shall take effect on the one hundred eightieth day after it
shall have become a law. Effective immediately, the addition, amendment
and/or repeal of any rule or regulation necessary for the implementation
of this act on its effective date are authorized to be made and
completed on or before such effective date.

Statutes affected:
S8915: 66 public service law, 66(12) public service law, 44 public service law, 65 public service law