New York has some of the highest utility costs in the country. While I’m continuing to push for a complete overhaul of the Public Service Commission – the agency that approves all these outrageous rate hikes – I’m happy to have helped negotiate provisions in the final budget that will help bend the cost curve, including:
- Revising the way utility rate cases are reviewed to ensure regulators are laser-focused on affordability, not utility profits.
- Requiring utilities present a constrained budget option that keeps their operating and capital costs below the rate of inflation.
- Ensuring ratepayers don’t foot the bill for political agendas – costs like lobbying, political contributions, and unnecessary executive travel have been included in rate applications, but will now be banned.
- Requiring utility companies publicly disclose how CEO salaries compare to the average worker’s pay, and directly tying executive compensation to customer affordability.
- Investing new funding into the EmPower+ program, helping moderate-income households finance energy improvements, saving eligible families about $600 per year.
