Authorizes the public service commission to implement performance-based regulation of electric or gas corporations; requires that any such regulation shall provide performance standards and metrics by which such performance shall be measured.
Impact
If enacted, Bill S09459 would have a substantial impact on how electric and gas corporations operate within New York. Performance-based regulations would enable the state to offer incentives to utilities for meeting certain performance metrics related to emissions reductions and service improvements. By setting clear standards and accountability measures, the state aims to encourage utilities to pursue more sustainable practices and innovative solutions, potentially transforming the energy landscape in favor of a greener economy.
Summary
Bill S09459 seeks to amend the public service law regarding the regulation of electric and gas corporations by introducing performance-based regulation. The bill empowers the public service commission to create a framework aimed at incentivizing utilities to reduce greenhouse gas emissions, enhance the quality and resilience of energy services, and implement programs that benefit low-income customers. This proposed regulatory shift marks a significant policy effort to align utility operations with state objectives for environmental sustainability and economic equity.
Contention
Notable points of contention surrounding Bill S09459 may arise from stakeholders concerned about the feasibility and financial implications of performance-based regulations. Critics might argue that the approach could lead to increased costs for consumers if the incentives result in higher operational expenses for utilities. Furthermore, the effectiveness of performance metrics and the potential for utilities to game the system to achieve incentives without genuinely improving service or environmental outcomes could be questioned. Thus, the balance between regulatory oversight and the flexibility of utility operations will likely be a focal point of ongoing discussions.
Same As
Authorizes the public service commission to implement performance-based regulation of electric or gas corporations; requires that any such regulation shall provide performance standards and metrics by which such performance shall be measured.
Authorizes the public service commission to implement performance-based regulation of electric or gas corporations; requires that any such regulation shall provide performance standards and metrics by which such performance shall be measured.
Provides that the public service commission shall establish service performance standards for telephone corporations; provides that telephone corporations shall meet such standards; provides penalties for failure to meet such standards.
Amends the imposition of sales tax to dramatic or musical arts performances, or live circus performances, or motion picture theaters, where such admission charge is not more than one thousand dollars.
Amends the imposition of sales tax to dramatic or musical arts performances, or live circus performances, or motion picture theaters, where such admission charge is not more than one thousand dollars.
Directs utility corporations to petition the public service commission for approval of electric grid utilization metrics; directs the public service commission to determine which electric grid utilization metrics shall be approved and how such metrics shall be applied; directs the public service commission to submit an annual report to the legislature and governor.
Directs utility corporations to petition the public service commission for approval of electric grid utilization metrics; directs the public service commission to determine which electric grid utilization metrics shall be approved and how such metrics shall be applied; directs the public service commission to submit an annual report to the legislature and governor.
Provides that state mandates shall not be implemented in school districts after such district has passed a budget; provides that any such mandates shall be implemented in the following fiscal year.
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.
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.