Stabilizes electric costs for New York consumers; restricts unreasonable rate and fee increases; establishes additional auditing and enforcement.

The bill aims to stabilize electric costs for New York consumers by restricting unreasonable rate and fee increases and establishing additional auditing and enforcement authorities. It prohibits electric corporations from recovering the cost of executive bonuses, incentive compensation, or shareholder dividends through ratepayer charges. The Public Service Commission is restricted from approving rate increases that would raise residential or small business electricity rates by more than 2.5% annually unless necessary for maintaining reliability.

Stabilizes electric costs for New York consumers; restricts unreasonable rate and fee increases; establishes additional auditing and enforcement.

The bill aims to stabilize electric costs for New York consumers by restricting unreasonable rate and fee increases and establishing additional auditing and enforcement authorities. It prohibits electric corporations from recovering the cost of executive bonuses, incentive compensation, or shareholder dividends through ratepayer charges. The Public Service Commission is restricted from approving rate increases that would raise residential or small business electricity rates by more than 2.5% annually unless necessary for maintaining reliability.