WeVote
Log In

Bill

Bill

S 9474

Establishes a standardized rate application template for utilities

2025 Regular Session Introduced by Kevin Parker

The bill requires a single standardized rate application template and uniform calculation methods for PSC-regulated utilities to ensure transparency and comparability of rate cases

REFERRED TO ENERGY AND TELECOMMUNICATIONS
0
WeVote Research Nonpartisan
Bill Summary · S 9474

Summary of Bill S. 9474 (Session 2025-2026, New York)

Purpose and Intent

  • Establishes a standardized, transparent template and uniform calculation methodologies for utility rate applications filed with the New York Public Service Commission (PSC).
  • Aims to improve accountability, enable easier comparison across rate cases, and enhance review by regulators, intervenors, and the public.

Key Provisions

1) Definitions

  • Defines “Rate application” as any petition or filing seeking approval of a general rate increase or modification to rates, charges, or tariffs.
  • Defines “Utility” as an electric, gas, steam, water, or telecommunications utility subject to PSC rate regulation.

2) Standardized Rate Application Template

  • The PSC must establish a standardized rate application template to be used by all utilities.
  • Required template contents include:
    • (i) Executive summary of the proposed rate increase and total revenue request.
    • (ii) Projected bill impacts by customer class.
    • (iii) Detailed breakdown of operating expenses, capital expenditures, and rate base components.
    • (iv) Historical and forecasted test year data in a consistent format.
    • (v) Side-by-side comparison of current versus proposed rates.
    • (vi) Any additional schedules/exhibits deemed necessary by the PSC.
  • All rate applications generally must use the standardized template unless the PSC authorizes a waiver.

3) Uniform Calculation Methodologies

  • PSC must prescribe uniform methodologies for key elements, including:
    • (i) Revenue requirement calculations
    • (ii) Cost of capital and return on equity
    • (iii) Depreciation, amortization, and plant-in-service
    • (iv) Allocation of costs among customer classes
    • (v) Forecasting assumptions for the test year
  • Utilities must apply these methodologies in all rate applications unless granted a written waiver for good cause.

4) Explanation of Calculations and Assumptions

  • Each filing must include:
    • (i) Clear identification of formulas and mathematical methodologies used
    • (ii) Source data inputs
    • (iii) Material forecasting assumptions
    • (iv) Explanation of any changes from methodologies/assumptions used in prior rate cases
  • Supporting schedules/workpapers must be in a format that allows replication and verification by PSC staff, intervenors, and the public.

5) Completeness Review and Enforcement

  • PSC can deem a rate application incomplete if failing to meet the standardized template/methodology.
  • Noncompliant filings may be rejected, suspended, or require amendment until deficiencies are cured.

6) Public Availability

  • All rate applications, including explanatory materials and workpapers, must be publicly available on the PSC’s website, subject to confidentiality rules.

7) Rulemaking Authority

  • PSC may promulgate rules and issue orders necessary to implement and enforce the act’s provisions.

Effective Date and Application

  • Effective one year after enactment.
  • Applies to all rate applications filed on or after the effective date.

Potential Impact

  • Impacts utilities regulated by the PSC (electric, gas, steam, water, and telecommunications) by mandating a uniform filing format and calculation approach.
  • Likely to:
    • Improve comparability across rate cases (e.g., bill impacts, cost breakdowns).
    • Increase transparency through standardized explanations and publicly accessible workpapers.
    • Facilitate more efficient and consistent PSC reviews and public understanding.
  • Could require utilities to adjust internal filing processes and data systems to align with the standardized template and methodologies.
  • PSC gains enhanced authority to enforce completeness and validity of filings, potentially accelerating review timelines or delaying hearings if filings are incomplete.

Notes

  • The bill does not change the substantive rate-setting standards themselves but requires standardized presentation and calculation practices.
  • Public access provisions balance transparency with protections for confidential information.

Compiled from official sources — confirm details with the bill’s official record.

Sign in to ask a question.