Energy (Utility Regulation)

Directs the public service commission in consultation with NYSERDA to conduct a full cost benefit analysis of the technical and economic feasibility of renewable energy systems in the state of New York and to compare such directly with other methods of electricity generation within nine months after the effective date and every four years thereafter.

This bill caps annual rate increases for utility services by gas and electric corporations, as well as municipalities providing such services, at 2%. It directly affects utility providers by prohibiting them from raising rates beyond this limit without department review. Key provisions require rate proposals exceeding the cap to undergo review by the Department of Public Service, with final rate plans subject to a 2% maximum. The law aims to limit annual cost increases for consumers while establishing a formal process for rate adjustments.