State Senator Christopher J. Ryan (SD-50) today announced several utility affordability measures included in the Senate’s One-House budget. These measures go further than the Governor’s proposal by making deeper investments in affordability programs, increasing funding for Public Utility Law Projects (PULP), strengthening reporting and transparency requirements, and ensuring revenues in excess of utilities’ authorized Rates of Return on Equity are returned directly to customers.

“These investments are about putting money back in New Yorkers’ pockets and finally demanding real accountability from utility companies and regulators alike. While the Governor’s proposal takes steps in the right direction, the Senate is going further—because the status quo is not working for ratepayers. For too long, families and small businesses have faced rising costs with too little transparency while utilities post strong returns. This budget makes clear that we are done with business as usual. We are cracking down on excessive profits, strengthening oversight of questionable spending, and ensuring that if utilities collect more than they are authorized, that money goes back to the people paying the bills. At the same time, we are investing in real solutions to lower costs and giving consumers a stronger voice, making it clear that New York’s utility system should work for ratepayers—not the other way around.”

The Senate’s proposal includes:

• $200 million for the Energy Affordability Program (EAP)
• $2.75 million for Public Utility Law Projects (PULP), for a total of $3.25 million
• A rebate of up to $2,000 or 30% of the overall cost of a heat pump as part of the Heat Pump Rebate Program
• A rebate of up to $2,000 for eligible pre-owned zero emission vehicles as part of the Previously Owned Zero Emission Vehicles Rebate Program (S.2032A) 
• $1 million for an Intervenor Reimbursement Fund, creating a fund to support parties representing consumer and small business interests in rate cases (S.2477)

The Senate also advances Article VII modifications to the Public Service Law, including:

• S.7693, requiring utilities to return revenues in excess of their authorized Rates of Return on Equity to consumers 
• S.3734B, S1012A, expanding the list of inappropriate utility expenses subject to Public Service Commission review
• S.5593, modifying rate case timelines for litigated cases 
• Adding additional reporting and transparency requirements to the Executive’s proposal on energy affordability monitors.