NY State Senate Bill 2019-S1622

Archive: Last Bill Status - In Senate Committee Energy And Telecommunications Committee

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

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 08, 2020	referred to energy and telecommunications
Jan 15, 2019	referred to energy and telecommunications

2019-S1622 (ACTIVE) - Details

Current Committee:: Senate Energy And Telecommunications
Law Section:: Public Service Law
Laws Affected:: Amd §66, Pub Serv L
Versions Introduced in Other Legislative Sessions:: 2011-2012: S5514
2013-2014: S3091
2015-2016: S3975
2017-2018: S3619

2019-S1622 (ACTIVE) - Summary

Relates to the annual reports required to be filed by gas and electric corporations.

2019-S1622 (ACTIVE) - Sponsor Memo

                                
 
BILL NUMBER: S1622

SPONSOR: PARKER
 
TITLE OF BILL:

An act to amend the public service law, in relation to annual reports
required to be filed by gas and electric corporations

 
PURPOSE:

This bill will require the filing of annual reports to the Public
Service Commission by the various gas and electric corporations, and
elucidates the parameters of such reports.

 
SUMMARY OF PROVISIONS:

This bill amends subsection 6 of section 62, as amended by Chapter 784
of the laws of 1923, of the Public Service Law to require. the filing of
annual reports by gas and electric corporations.

JUSTIFICATION:

For nearly a century, since the founding of the department of public
service (Commission), No's York energy corporations have been required
by law to file an annual report. The annual report is a necessary tool
in maintaining transparency and oversight of the industry, providing
critical infoimation or the operations, accounts, capital, debt, ò and
management of power producers.ò The Commission has confirmed that it has
unilaterally exempted power producers from filing annual reports, for
perhaps as long as the last twenty years.  In 1991 the Commission waived
the annual reporting reouirement for a.  small 95 megawatt cogeneration
facility. Since this decision, the Commission has opened the door to a
blanket exemption for the entire power producing industry, including
multibillion dollar corporations such as Eatergy.

Without annual reporting, New Yorkers do not have accessible information
on the sales, revenue, ccsts, or price of electricity at power gener-
ation facilities. In the absence of maintaining and analyzing the crit-
ical market information neither the ratepayers nor the Ccmmission can:
1.) assure that the industry is providing consumers with the lowest
possible prices within a restructured, competitive marketplace; 2.)
determine the competitiveness of energy markets and improve the ineffi-
ciencies; or 2.) guard against market manipulation and opportunities for
collusion.

This bill reinstates the PSC's fundamental statutory duty to oversee and
assure that just and reasonable rates are charged by power producers by
compelling the corporations, without exception, to file annual reports
for review by the PSC.

 
LEGISLATIVE HISTORY:

2017/18 - S.3619 - Referred to Energy and Telecom

2015-16: S.3975/A.1993- Referred to Energy and Telecom

2013-14: S.3091/A.2846- Referred to Energy and Telecomm


2011-12: S.5514/A.7306- Referred to Energy and Telecomm/Passed the
Assembly

 
FISCAL IMPLICATIONS:

None to the state.

 
EFFECTIVE DATE:
This act shall take effect immediately.

2019-S1622 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1622
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             January 15, 2019
                                ___________
 
 Introduced  by  Sen.  PARKER -- read twice and ordered printed, and when
   printed to be committed to the Committee on  Energy  and  Telecommuni-
   cations
 
 AN  ACT  to  amend the public service law, in relation to annual reports
   required to be filed by gas and electric corporations

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Subdivision 6 of section 66 of the public service law, as
 amended by chapter 784 of the laws  of  1923,  is  amended  to  read  as
 follows:
   6.  [Require]  NOTWITHSTANDING  ANY  OTHER RULE, REGULATION, OR ORDER,
 REQUIRE every person and corporation under its supervision and it  shall
 be  the  duty  of  every  such  person  and corporation to file with the
 commission an annual report, verified by  the  oath  of  the  president,
 vice-president,  treasurer,  secretary, general manager, or receiver, if
 any, thereof, or by the person required to file the same. The  verifica-
 tion  shall  be  made by said official holding office at the time of the
 filing of said report, and if not made upon the knowledge of the  person
 verifying  the  same  shall set forth the sources of his information and
 the grounds of his belief as to any matters not stated  to  be  verified
 upon  his  knowledge.  The report shall show in detail (a) the amount of
 its authorized capital stock and the amount thereof issued and outstand-
 ing; (b) the amount of its authorized bonded indebtedness and the amount
 of its bonds and other forms of  evidence  of  indebtedness  issued  and
 outstanding;  (c)  its  receipts  and  expenditures during the preceding
 year; (d) the amount paid as dividends upon its stock  and  as  interest
 upon  its  bonds; (e) the names of its officers and the aggregate amount
 paid as salaries to them and the amount paid as wages to its  employees;
 (f)  the  location  of  its  plant  or  plants  and  system, with a full
 description of its property and franchises, stating in detail  how  each
 franchise  stated  to  be  owned  was acquired; and (g) such other facts
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD00797-01-9

 S. 1622                             2
 
 pertaining to the operation and maintenance of the plant and system, and
 the affairs of such person or corporation as  may  be  required  by  the
 commission.  Such  reports shall be in the form, cover the period and be
 filed at the time prescribed by the commission. The commission may, from
 time  to time, make [changes and] additions in such forms. When any such
 report is defective or believed to be erroneous,  the  commission  shall
 notify  the  person,  corporation  or municipality making such report to
 amend the same within a time prescribed  by  the  commission.  Any  such
 person  or  corporation  or municipality which shall neglect to make any
 such report or which shall fail to correct any such  report  within  the
 time  prescribed  by  the commission shall be liable to a penalty of one
 hundred dollars and an additional penalty of  one  hundred  dollars  for
 each day after the prescribed time for which it shall neglect to file or
 correct  the same, to be sued for in the name of the people of the state
 of New York. The amount recovered in any such action shall be paid  into
 the  state  treasury and be credited to the general fund. The commission
 may extend the time prescribed for cause shown.
   § 2. This act shall take effect immediately.

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Senate Bill S1622

Sponsored By

Archive: Last Bill Status - In Senate Committee Energy And Telecommunications Committee

2019-S1622 (ACTIVE) - Details

2019-S1622 (ACTIVE) - Summary

2019-S1622 (ACTIVE) - Sponsor Memo

2019-S1622 (ACTIVE) - Bill Text download pdf

Comments

Senate Bill S1622

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Sponsored By

Kevin S. Parker

Archive: Last Bill Status - In Senate Committee Energy And Telecommunications Committee

2019-S1622 (ACTIVE) - Details

2019-S1622 (ACTIVE) - Summary

2019-S1622 (ACTIVE) - Sponsor Memo

2019-S1622 (ACTIVE) - Bill Text download pdf

Comments