Requires that any proposed capital expenditure to be considered in any matter affecting a major change in rates must be described by the utility and shall include the purpose, cost, and benefits to the ratepayers and shall be posted on the PSC website.
Impact
The enactment of A02736 is expected to have significant implications for how utility companies operate in regards to rate changes. By requiring utilities to justify and openly disclose the specifics of proposed capital expenditures, it aims to protect consumers from unjustified rate increases. This greater scrutiny ensures that ratepayer interests are considered more thoroughly in rate proceedings, as utilities will bear the burden of proof to demonstrate that proposed rate changes are fair and reasonable.
Summary
Bill A02736 aims to enhance the transparency and accountability of utility companies in New York by requiring a detailed description of any proposed capital expenditures that could affect major changes in utility rates. The bill mandates that utility companies provide comprehensive information regarding the purpose, total cost, expected lifespan, location, rationale, and anticipated benefits to ratepayers for each capital project proposed. This information is to be made publicly available on the Public Service Commission (PSC) website, thereby increasing public access to pertinent details concerning their utility rates.
Contention
There may be contention surrounding the bill, particularly from utility companies who might view the additional requirements as bureaucratic hurdles that could complicate the capital expenditure approval process. Critics might argue that these regulations could slow down necessary infrastructure projects or lead to increased administrative costs. However, supporters argue that such transparency is vital for ensuring that ratepayers are not burdened with excessive costs without clear justification. The balance between adequate regulation and smooth operational capacity for utilities will likely be a focal point of the debate surrounding this bill.
Same As
Requires that any proposed capital expenditure to be considered in any matter affecting a major change in rates must be described by the utility and shall include the purpose, cost, and benefits to the ratepayers and shall be posted on the PSC website.
Provides that a capital tax levy shall not be included within the definition of "tax levy limit"; defines "capital local expenditures" and "capital tax levy".
Enacts the "ratepayer disclosure and transparency act" which requires an annual report that includes the estimated or actual ratepayer costs and benefits of any mandated state energy program to the governor and legislature including any New York climate leadership and community protection act compliance costs.
Provides that the text to be used in a proposed amendment, proposition or question to be submitted to the people for approval shall be in the legislation proposing such amendment, proposition or question and shall not be altered without approval by the legislature.
Provides that, for purposes of veterans seeking to qualify for public housing, "probable aggregate annual income" shall not include disability benefits paid by federal government to veterans for service-connected disabilities; provides that such disability benefits shall not be included in computing any surcharge against such veterans.
Requires the public service commission to publish certain information prior to a major rate change by a public gas or electric utility including an explanation of why the rate change is requested and a summary of how the proposed revenue will be spent.
Requires the public service commission to publish certain information prior to a major rate change by a public gas or electric utility including an explanation of why the rate change is requested and a summary of how the proposed revenue will be spent.
Provides that every gas or electric rate schedule, which is based on projections of revenues, expenditures and utility operations for more than 18 months, shall be annually reviewed by the public service commission; such review proceeding shall include all the parties involved in the proceeding at which such schedule was originally approved.