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Sponsors
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History
- Referred to energy and telecommunications
- Referred to energy and telecommunications
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S3000
Title of bill
An act to amend the public service law, in relation to abolishing the market clearing price
Purpose
To abolish the use of a market clearing price relating to the buying of electricity at an auction held by the Independent System Operator.
Summary of provisions
Section 1. Amends Section 66 of the Public Service Law by adding three new subdivisions 29, 30 and 31. 29. Requires the PSC to review rates at least every three years. 30. Prohibits a market clearing price 31. Requires the PSC to exercise its fullest jurisdiction over the ISO and bans the PSC from requiring electric utility companies from divesting itself of electric generating facilities.
Justification
The health, welfare, and prosperity of all New York residents require the provision of adequate, efficient, reliable, environmentally sound, and lowest-cost electric service at affordable prices. New York's electric prices have risen significantly impacting the economic well being, health, and safety of the residents of and the commerce and industry in the state. The auction system is monitored and administered by the independent system operator and is used to distribute energy.
Bill history
S.8558 of 2008; Referred to Rules Committee S.1371 of 2010; Referred to Energy & Telecommunications
Fiscal implications
None.
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.