New York A 8150: Relates to the retention of revenues derived from their actual return on equity in excess of authorized rates of return by gas, electric, or combination gas and electric corporations

Bill Text

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A08150 Summary:

BILL NOA08150 

&nbsp

SAME ASSAME AS S07693

&nbsp

SPONSORBarrett

&nbsp

COSPNSRSantabarbara, Yeger, Hevesi, Magnarelli, Glick, Levenberg, Otis, Griffin, Steck, Cashman, Romero,
 Burdick, Forrest, Kay, Shrestha, Shimsky, Simon, Rosenthal, Cunningham

&nbsp

MLTSPNSR

&nbsp

Amd §66, Pub Serv L

&nbsp

Provides that gas, electric, or combination gas and electric corporations shall not be permitted to retain revenues derived from their actual return on equity in excess of authorized rates of return on equity.

Go to top A08150 Actions:

BILL NOA08150 

&nbsp

05/02/2025referred to energy

05/06/2025reported referred to ways and means

06/06/2025reported referred to rules

01/07/2026referred to ways and means

Go to topA08150 Committee&nbspVotes:

Committee:ENERGY Chair:Barrett 
DATE:05/06/2025AYE/NAY:12/4 Action: Favorable refer to committee Ways and Means BarrettAyePalmesanoExcused

SantabarbaraAyeBlankenbushNay

DilanAyeManktelowNay

SternAyeGrayNay

AndersonAyePirozzoloNay

RiveraAye

MamdaniAye

ConradAye

LucasAye

ShresthaAye

ClarkAye

DaisAye

Committee:WAYS AND MEANS Chair:Pretlow 
DATE:06/06/2025AYE/NAY:24/11 Action: Favorable refer to committee Rules PretlowAyeRaNay

JacksonAyeFitzpatrickNay

ColtonAyeHawleyNay

CookAyeBlankenbushNay

BenedettoAyePalmesanoNay

WeprinAyeWalshNay

AndersonAyeDeStefanoNay

BraunsteinAyeManktelowNay

McDonaldNaySmullenNay

RozicAyeGiglioNay

DinowitzAye

LavineAye

BronsonAye

DilanAye

SeawrightAye

HyndmanAye

WalkerAye

WrightAye

SimonAye

CruzAye

OtisAye

SolagesAye

HunterAye

EpsteinAye

SeptimoAye

Go to topA08150 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA08150 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 8150

 2025-2026 Regular Sessions

 IN ASSEMBLY

 May 2, 2025
 ___________

 Introduced by M. of A. BARRETT -- read once and referred to the Commit-
 tee on Energy

 AN ACT to amend the public service law, in relation to the retention of
 revenues derived from their actual return on equity in excess of
 authorized rates of return by gas, electric, or combination gas and
 electric corporations

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Subdivision 20 of section 66 of the public service law, as
 2 added by chapter 394 of the laws of 1978, is amended to read as follows:
 3 20. (a) Notwithstanding any general or special law, rule or regulation
 4 to the contrary, the commission shall have the power to provide for the
 5 refund of any revenues received by any gas or electric corporation which
 6 cause the corporation to have revenues in the aggregate in excess of its
 7 authorized rate of return for a period of twelve months.
 8 (b) Such corporations shall be required to return all revenues derived
 9 from their actual return on equity in excess of their authorized rate of
 10 return on equity to ratepayers in the form of a surcredit to their
 11 bills. Such surcredit shall be provided to ratepayers no later than
 12 thirty days following the end of each year of a rate period and shall be
 13 clearly labeled on the ratepayer's bill. The commission [may] shall
 14 initiate a proceeding with respect to such a refund after the conclusion
 15 of any such twelve month period.
 16 (c) The commission shall not approve any rate plan which allows any
 17 gas, electric, or combination gas and electric corporation to retain
 18 revenues derived from their actual return on equity in excess of their
 19 authorized rate of return on equity.
 20 (d) Such corporations shall be required to report annually to the
 21 department any excess revenues and the amount returned to ratepayers.
 22 (e) For purposes of this subdivision, "authorized rate of return on
 23 equity" shall mean the return on the equity portion of the rate base

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD11616-04-5

 A. 8150 2

 1 that regulated utilities are authorized to collect in rates and "rate
 2 period" shall mean the time period in which a regulated utility collects
 3 rates that are authorized and approved by the commission.
 4 § 2. This act shall take effect on the one hundred eightieth day after