Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 24, 2018 |
enacting clause stricken |
Jan 03, 2018 |
referred to corporations, authorities and commissions |
Feb 15, 2017 |
referred to corporations, authorities and commissions |
Assembly Bill A5746
2017-2018 Legislative Session
Sponsored By
DINOWITZ
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
2017-A5746 (ACTIVE) - Details
2017-A5746 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5746 2017-2018 Regular Sessions I N A S S E M B L Y February 15, 2017 ___________ Introduced by M. of A. DINOWITZ -- read once and referred to the Commit- tee on Corporations, Authorities and Commissions AN ACT to amend the public service law, in relation to abolishing the market clearing price THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. 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 ROUND DECREASE BY A DECREMENT; WHICH IS A GIVEN PERCENTAGE OF THE PREVI- EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD07504-01-7
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