What's happening
The bill allows electric utilities to recover costs and earn a 15% return on investments in efficient voltage regulation devices.
Why it matters
Encourages utilities to adopt highly efficient voltage regulation technology. by guaranteeing them cost recovery and a strong financial incentive, which could speed up modernization of the electric grid.
May lead to greater energy conservation and lower system losses. by promoting devices that maintain optimal voltage and are at least 99% efficient for most of the electric load, potentially reducing wasted electricity.
Could impact ratepayers’ bills in the short term. as utilities are allowed to recoup costs and earn a 15% return, possibly leading to higher rates but with the aim of long-term savings and reliability improvements.
Sets a high technical standard for eligible equipment. , meaning only very efficient devices qualify, which could drive innovation and set a precedent for future energy conservation incentives.
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
Electric utilities
The bill would allow them to recover capital and operating costs and earn a 15 percent rate of return in their rate bases on investments in and installations of qualifying voltage regulation devices.
Electric utility ratepayers
The bill would allow utilities to include qualifying voltage regulation investments and a 15 percent return in their rate bases, affecting the costs recovered through rates.
Voltage regulation technology manufacturers
The incentive would cover devices that dynamically raise or lower voltage and are at least 99 percent efficient across at least 90 percent of the electric load curve.
Headline styles
Reward Energy-Saving Utilities
Plain English, a few words. Used as the page title.
Sponsors
1 Co-sponsor
2 Multi-sponsors
History
- Referred to energy
- Referred to energy
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
7423
2017-2018 Regular Sessions
IN ASSEMBLY
April 25, 2017
Introduced by M. of A. TITONE, LUPARDO -- Multi-Sponsored by -- M. of A. GLICK, THIELE -- read once and referred to the Committee on Energy
AN ACT to amend the public service law, in relation to providing incentives for energy conservation through voltage regulation
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. The public service law is amended by adding a new section 66-o to read as follows:
§ 66-o. Voltage regulation. 1. For purposes of this section "voltage regulation device" shall mean voltage regulation technologies which raise or lower voltage dynamically and are ninety-nine percent or more efficient across at least ninety percent of the electric load curve.
2. Electric utilities may recover the capital and operating costs and earn a fifteen percent rate of return in the utility's rate bases on investments and installations of voltage regulation devices.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD11034-01-7
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.