New York S05593 regulates utility rate changes, requiring commission approval for suspension extensions and limiting retroactive rate recovery.

New York S05593 amends the public service law to address escalating utility costs and their impact on consumers. The bill mandates that any subsequent requests for extending the suspension period of certain rate, charge, or other changes by utilities must receive approval from the Public Service Commission. These extensions are initially valid for one month, after which the commission reviews and decides on further extensions. The bill also imposes limitations on retroactive rate recovery by utilities, aiming to mitigate the effects of "rate compression" on consumers.

New York S05593 regulates utility rate changes, requiring commission approval for suspension extensions and limiting retroactive rate recovery.

New York S05593 amends the public service law to address escalating utility costs and their impact on consumers. The bill mandates that any subsequent requests for extending the suspension period of certain rate, charge, or other changes by utilities must receive approval from the Public Service Commission. These extensions are initially valid for one month, after which the commission reviews and decides on further extensions. The bill also imposes limitations on retroactive rate recovery by utilities, aiming to mitigate the effects of "rate compression" on consumers.