BILL NUMBER: S9474
SPONSOR: PARKER
 
TITLE OF BILL:
An act to amend the public service law, in relation to establishing a
standardized rate application template
 
PURPOSE OR GENERAL IDEA OF BILL:
To require standardized formatting, uniform calculation methods,
detailed explanations, and public disclosure for utility rate increase
filings to improve transparency, comparability, and regulatory over-
sight.
 
SUMMARY OF PROVISIONS:
Section 1 states the legislative findings and intent informing the bill.
Section 2 amends the Public Service Law by adding 27-a, which directs
the Public Service Commission (PSC) to establish a standardized rate
application template to be used by all utilities filing rate applica-
tions. It further directs the PSC to prescribe uniform calculation meth-
odologies for key financial components, such as revenue requirements,
cost of capital, depreciation, cost allocation, and forecasting assump-
tions. It also specifies that utilities explain all calculations, data
sources, and assumptions, and disclose changes from prior rate cases.
Section 3 sets forth the effective date.
 
JUSTIFICATION:
Utility rate cases rely on complex financial models, discretionary
assumptions, and varied analytical methodologies to determine allowable
revenues and customer bill impacts. Because utilities are not currently
required to present this information in a standardized format or to
uniformly apply methodologies or calculations, rate applications and
cases can be difficult to evaluate, compare across cases, or fully
understand, limiting transparency for regulators, stakeholders, and the
public.
This bill will require the Public Service Commission to establish a
standardized rate application template and prescribed methodologies for
calculating key components of rate cases and ratepayer bill impacts in
order to promote accountability, comparability, and informed decision-
making.
 
PRIOR LEGISLATIVE HISTORY:
New bill.
 
FISCAL IMPLICATIONS:
To be determined.
 
EFFECTIVE DATE:
One year after the act shall have become a law and shall apply to all
rate applications filed on or after such date.