What's happening
Writing a plain-English summary… Track this bill to get it by email.
Why it matters
Albany, before your first meeting.
Every bill that moved yesterday, summarized in a sentence and ranked by impact. The Albany Scorecard follows on Sundays.
Free. Unsubscribe in one click. Want alerts on specific bills? Create an account.
Who cares
Headline styles
Sponsors
No co-sponsors yet.
History
- Referred to energy and telecommunications
- Referred to energy and telecommunications
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Abolishes the market clearing price
In Assembly Committee · Corporations, Authorities And Commissions · Sponsor James F. Brennan
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S3540
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. The current experiment in deregulation of the electric industry in New York has failed to achieve the goals stated to the public service commission in its Opinion 96-12, issued and effective on day 20, 1996. The effect of the de-regulation of New York's electric industry has resulted in constantly escalating and excessive costs of electricity, and lowered reliability and safety of the electrical networks in the state of New York; posing a serious threat to the economic well being, health, and safety of the residents of and the commerce and industry in the state.
The auction system monitored and administered by the independent system operator that is used to distribute energy has resulted in skyrocketing electric bills. This legislation will abolish this costly auction system and replace it with one that is less costly and more within the public's interest.
Legislative history
2013-14- S. 1181 - Energy Committee/A. 6002 - Corporations, Authorities & Commissions.
Fiscal implications
N/A.
Effective date
Immediate.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.