S6557A

The New York State Senate passed legislation amending the Public Service Law to establish a standard annual analysis of utility return on equity, with a vote of 53-8. The bill, sponsored by Sen. Mayer and designated as Calendar Number 296, Senate Print 6557A, would take effect one year after becoming law. The measure faced opposition from eight senators who argued it would constrain negotiations between the Public Service Commission and utility companies during rate-setting proceedings. Sen. Borrello, voting against the bill, contended that while the legislation was marketed as leveling the playing field, it would instead "handcuff" both the PSC and utilities by removing negotiating flexibility, ultimately harming ratepayers by preventing fair rate agreements. Those voting in opposition were Senators Ashby, Borrello, O'Mara, Ortt, Palumbo, Tedisco, Weber, and Weik.

The New York State Senate passed legislation sponsored by Senator Mayer to amend the Public Service Law on a roll call vote of 49-8. The bill, Calendar Number 883 (Senate Print 6557A), will take effect one year after becoming law. Eight senators voted in opposition: Ashby, Borrello, O'Mara, Ortt, Palumbo, Tedisco, Weber and Weik. No floor debate on the measure was recorded in the transcript.