Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Apr 01, 2011 |
enacting clause stricken |
Feb 03, 2011 |
referred to corporations, authorities and commissions |
Assembly Bill A4487
2011-2012 Legislative Session
Sponsored By
LANCMAN
Archive: Last Bill Status - Stricken
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2011-A4487 (ACTIVE) - Details
2011-A4487 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4487 2011-2012 Regular Sessions I N A S S E M B L Y February 3, 2011 ___________ Introduced by M. of A. LANCMAN -- read once and referred to the Commit- tee on Corporations, Authorities and Commissions AN ACT to amend the public service law, in relation to enacting the "fair electricity auction market act" THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Short title. This act shall be known and may be cited as the "fair electricity auction market act". S 2. Section 66 of the public service law is amended by adding three new subdivisions 29, 30 and 31 to read as follows: 29. REVIEW THE RATES OF ANY PUBLIC UTILITY ON AN ANNUAL BASIS, PROVIDED HOWEVER THAT UPON A DETERMINATION BY THE COMMISSION THAT THE PUBLIC INTEREST DOES NOT REQUIRE SUCH ANNUAL RATE REVIEW, A REVIEW OF RATES MAY BE UNDERTAKEN AT NO MORE THAN THREE YEAR INTERVALS. 30. (A) USE THE FULLEST EXTENT OF ITS POWERS TO REGULATE THE DISTRIB- UTION OF RETAIL ELECTRIC ENERGY TO RETAIL CUSTOMERS IN THE STATE AND, TO THE EXTENT NOT PROHIBITED BY FEDERAL LAW, THE TRANSMISSION OF ELECTRIC ENERGY IN THE STATE. (B) A MARKET CLEARING PRICE MECHANISM FOR THE PURCHASE OF POWER SHALL BE FORBIDDEN FOR PURCHASES MADE THROUGH THE WHOLESALE MARKET VIA A BID PROCUREMENT OR AUCTION PROCESS HELD BY THE INDEPENDENT SYSTEM OPERATOR ("ISO") OF NEW YORK, OR ANY SUCCESSOR IN LAW AND FUNCTION TO SUCH ENTI- TY. (C) SUCH AUCTION OR BID PROCUREMENT PROCESS SHALL BE OVERSEEN BY THE COMMISSION, WHICH SHALL REQUIRE A DESCENDING CLOCK, PAY-AS-BID AUCTION IN WHICH BID AMOUNTS WILL CONTINUE TO FALL UNTIL NO BIDDER IS WILLING TO SUPPLY ELECTRICITY AT A LOWER PRICE. FOR THE PURPOSES OF THIS ARTICLE "DESCENDING CLOCK AUCTION" SHALL BE DEFINED AS AN AUCTION IN WHICH THE PRICES DROP THROUGHOUT AN AUCTION OF TIME-LIMITED DURATION; STARTING HIGH AND BEING REDUCED GRADUALLY UNTIL THE SUPPLY BID IS JUST SUFFICIENT TO MEET THE ELECTRICAL LOAD TO BE PROCURED. PRICES THAT TICK DOWN IN A EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD01310-02-1
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