New York S01414 enacts the "utility ratepayer protection act" requiring legislative approval for utility charge increases.

New York S01414, the "utility ratepayer protection act," mandates that any changes to utility rates or charges must be approved by both houses of the legislature. Utilities must submit a written report to the legislature at least 180 days before a proposed increase takes effect. The report must include justification for the increase and current financial conditions. The legislature can request additional data and may block the increase if it is deemed unnecessary for revenue to cover service expenses.

New York S01414 enacts the "utility ratepayer protection act" requiring legislative approval for utility charge increases.

New York S01414, the "utility ratepayer protection act," mandates that any changes to utility rates or charges must be approved by both houses of the legislature. Utilities must submit a written report to the legislature at least 180 days before a proposed increase takes effect. The report must include justification for the increase and current financial conditions. The legislature can request additional data and may block the increase if it is deemed unnecessary for revenue to cover service expenses.