Albany, N.Y., February 5–State Senator Tom O’Mara (R,C-Big Flats), a member on the Senate Energy and Telecommunications Committee, today joined Senate Republican Leader Rob Ortt and other Senate Republicans on the committee on a letter to Governor Hochul, urging her to direct the New York State Energy and Research Development Authority (NYSERDA) to return billions in unused funds from their “Climate Investment Account” directly back to ratepayers who are struggling with skyrocketing utility bills. 

[A copy of today’s letter is attached above]

The 2025 fiscal year budget and financial plan for NYSERDA indicates they have a surplus of more than $2 billion and projected in future years to even reach $3 billion. At last week’s Joint Budget hearing on Energy and Environmental Conservation, O’Mara, the Ranking Member on Senate Finance Committee, urged NYSERDA President Doreen Harris to return these funds to ratepayers as a bill credit. These bill credits would provide immediate relief to overburdened ratepayers who were required to contribute these surplus funds in their utility bills.

[Watch O’Mara’s exchange with Harris HERE]

O’Mara said, “Should New York State just keep on asking ratepayers to bear the burden of what’s become, at best, a questionable climate agenda? It seems to me that carrying in excess of $2 billion of ratepayers’ funds from year to year would be better returned to the ratepayers given the significant increases in the cost of electricity in New York, over a 50% increase from January 2020 to October 2025. The bottom line on any surplus, in my view, is straightforward: Wouldn’t it be more important to provide some relief to ratepayers rather than to have it sitting in NYSERDA’s bank account or in a utility’s coffers?”

O’Mara is currently sponsoring legislation (S.8461) that, if enacted, would allow NYSERDA’s unspent funds to be returned directly to ratepayers. At a time when many New Yorkers are facing a crisis trying to pay skyrocketing utility bills, these unspent NYSERDA funds, collected through a surcharge on ratepayers’ utility bills, is at least $2 billion that could be returned directly to ratepayers, O’Mara said.

Senate Republican Leader Ortt said, “Albany Democrats continue to dream up new ways to tax New Yorkers and billions of ratepayer dollars – taken to fund the Green New Scam – are sitting unused. It’s time NYSERDA parted with its slush fund, and returned that money to ratepayers to give real immediate relief to New Yorkers who desperately need a break.” 

Senator Mario R. Mattera, the Ranking Member on the Energy Committee, said, “At a time when New Yorkers are being crushed by skyrocketing utility bills that have increased dramatically due to Albany Democrats’ rushed and ill-conceived energy policies, it is unacceptable for billions of ratepayer dollars to sit unused at NYSERDA. These funds came directly from families and small businesses through their utility bills, and they should be returned as immediate bill credits as our residents deal with this winter’s unprecedented cold weather. This is a commonsense step that would provide real, direct relief without jeopardizing future energy investments.”

Senator Mark Walczyk, a member on the Energy Committee, said, “Senate Democrats voted for the Public Service Commissioners who approve electric rate hikes and blame the PSC. Senate Democrats voted for the all-electric mandates driving up costs of generating power and blame the utilities. Senate Democrats voted for New York's 'Green New Deal' and voted to raise your rates to create a $3 Billion slush fund for pet energy projects that aren't even built. Everything they do makes costs go up - ask anyone with a utility bill.”

The GOP letter to Hochul reads, in part, “There is no rationale for not using these off-budget surplus funds to provide ratepayers with credit on their utility bill. It is particularly timely because of the increased supply costs that will result from the current bout of frigid weather. Returning these unspent funds would provide short-term assistance but does not resolve the long-term problem of increasing rates. It is, however, an important recognition of the problem and provides immediate cash relief.”