Establishes a presumption that refunds received by public utility companies and municipalities shall be passed on to ratepayers.

The bill amends the public service law to establish a presumption that refunds received by public utility companies and municipalities shall be passed on to ratepayers. This can be done through bill credits, direct refunds, reductions in future rates, or other methods that provide a direct and equitable benefit to affected ratepayers. The presumption can be rebutted only if the public utility company or municipality demonstrates that an alternative disposition will provide a reasonably equivalent or greater benefit or is necessary to prevent imminent and material impairment of the provision.

Establishes a presumption that refunds received by public utility companies and municipalities shall be passed on to ratepayers.

The bill amends the public service law to establish a presumption that refunds received by public utility companies and municipalities shall be passed on to ratepayers. This can be done through bill credits, direct refunds, reductions in future rates, or other methods that provide a direct and equitable benefit to affected ratepayers. The presumption can be rebutted only if the public utility company or municipality demonstrates that an alternative disposition will provide a reasonably equivalent or greater benefit or is necessary to prevent imminent and material impairment of the provision.