Prohibits utilities from raising rates while reporting high profits; requires utilities to reinvest revenues into New York's energy infrastructure, safety, and reliability; requires the submission to the public service commission of a compliance report.
Requires legislative approval of any utility rate or charge increase approved by the public service commission; provides that the legislature can approve, modify or rescind any rate or charge increase approved by the commission by concurrent resolution; provides that the legislature can review any rate or charge increase approved in the prior 12 months.
Establishes the "accountability of costs for data centers act"; requires each electric corporation, gas corporation and municipality to establish an independent classification of service for large energy use facilities that is separate and distinct from other classifications of service; authorizes the department of public service to develop financial surety requirements.