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Who cares
Headline styles
Sponsors
2 Co-sponsors
History
- Print number 4021a
- Amend and recommit to energy and telecommunications
- Referred to energy and telecommunications
- Reported and committed to finance
- Referred to energy and telecommunications
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the public authorities law, in relation to certain reports of the New York state energy and research development authority
Purpose
To require more frequent and detailed reporting on the status of monies and activities related to projects funded by proceeds from the regional greenhouse gas initiative program and any other programs established by order of the PSC that are administered by NYSERDA and funded by assessments, fees or surcharges imposed on ratepayers or power generators.
Summary of provisions
Section 1. Amends the public authorities law by adding a new subdivision 7 to establish a requirement that NYSERDA submit semi-annual reports to the Governor and the Legislature on projects and initiatives associated with the regional greenhouse gas initiative fund, and other programs established by order of the PSC, administered by NYSERDA, and funded by assessments, fees or surcharges imposed on ratepayers or power generators. The bill lines out specific requirements about what these semi-annual reports must include, such as how much money is collected for each program, how much is encumbered, the amount of any transfers of monies out of or between such programs, a list of requests for proposals or other solicitations that have been put out to bid, a description of how the monies are allocated or awarded, the criteria and process for decision-making about such allocations and awards, a list of projects that have commenced the permitting process, that have commenced construction or that have been completed, and a regional breakdown of projects selected under each program, including an indication of the county and utility service territory in which the project is located.
Read the full memo (697 words)
Section 2. sets forth the effective date.
Existing law
Currently, PAL Section 1867 requires NYSERDA to submit annual reports to the Governor, the Legislature and the State Comptroller on its operations and accomplishments, its receipts and disbursements or revenue expenses, a breakdown of capital expenditures, its assets and liabilities, a schedule of its bonds and notes, a report on its personnel policies and practices, its proposed operating budget for the next ensuing fiscal year and the operating budget for the present fiscal year.
Justification
The Public Service Commission is currently considering a proposal from NYSERDA to establish a Clean Energy Fund that would replace the current System Benefits Charge (SBC), Energy Efficiency Portfolio Standard (EEPS), and Renewable Portfolio Standard (RPS) programs, which are all designed to promote energy efficiency and renewable energy. This restructuring is welcome and necessary because money for these programs is collected from ratepayers in addition to taxes and this is placing a considerable burden on ratepayers. Moreover, the programs are not meeting the goals for which they were originally established as effectively as they could be and much of the money collected in recent years has not been spent.
Ratepayers in New York currently pay approximately one billion dollars per year in assessments collected on their utility bills in order to fund the SBC, EEPS and RPS programs. In addition, New York State collected approximately $728 million in proceeds from the auction of pollution credits under the Regional Greenhouse Gas Initiative since the program began in 2008, and the State will collect roughly $150 million this fiscal year. RGGI proceeds are funded by power producers and the cost is ultimately paid by consumers.
The goals of the existing NYSERDA programs and the RGGI program are worthy, however it is important to leverage more private investment in energy efficiency and renewable technologies using the public money that has already been collected in order to meet our state's clean energy goals. As the PSC and NYSERDA work to restructure various programs and to alleviate cost burdens by lowering assessments on all customer classes - residential, commercial and industrial, this bill will allow for optimal transparency, coordination and cooperation so that the Legislature, the constituents that they serve and market participants can have more of a voice in helping to effectuate this welcome modernization of the current system for funding clean energy projects and initiatives in New York.
Legislative history
New Bill.
Fiscal implications
None.
Local fiscal implications
None.
Effective date
Immediate.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.