Assembly Bill A1216

2015-2016 Legislative Session

Abolishes the market clearing price

download bill text pdf

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Archive: Last Bill Status - In Assembly Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2015-A1216 (ACTIVE) - Details

See Senate Version of this Bill:
S3540
Current Committee:
Assembly Corporations, Authorities And Commissions
Law Section:
Public Service Law
Laws Affected:
Amd §66, Pub Serv L
Versions Introduced in Other Legislative Sessions:
2009-2010: A1563, S1371
2011-2012: A4487, A6036, S206
2013-2014: A6002, S1181
2017-2018: A5746, S5633

2015-A1216 (ACTIVE) - Summary

Abolishes the use of a market clearing price relating to the buying of electricity at an auction held by the independent systems operator.

2015-A1216 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  1216

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                             January 8, 2015
                               ___________

Introduced  by M. of A. BRENNAN -- read once and referred to the Commit-
  tee on Corporations, Authorities and Commissions

AN ACT to amend the public service law, in relation  to  abolishing  the
  market clearing price

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1.  Section 66 of the public service law is amended by  adding
three new subdivisions 29, 30 and 31 to read as follows:
  29.  REVIEW  THE  RATES  OF  ANY  PUBLIC  UTILITY  ON AN ANNUAL BASIS,
PROVIDED HOWEVER THAT UPON A DETERMINATION BY THE  COMMISSION  THAT  THE
PUBLIC  INTEREST  DOES  NOT REQUIRE SUCH ANNUAL RATE REVIEW, A REVIEW OF
RATES MAY BE UNDERTAKEN AT NO MORE THAN THREE YEAR INTERVALS.
  30. (A) USE THE FULLEST EXTENT OF ITS POWERS TO REGULATE THE  DISTRIB-
UTION OF RETAIL ELECTRIC ENERGY TO RETAIL CUSTOMERS IN THE STATE AND, TO
THE  EXTENT  NOT PROHIBITED BY FEDERAL LAW, THE TRANSMISSION OF ELECTRIC
ENERGY IN THE STATE.
  (B) A MARKET CLEARING PRICE MECHANISM FOR THE PURCHASE OF POWER  SHALL
BE  FORBIDDEN  FOR PURCHASES MADE THROUGH THE WHOLESALE MARKET VIA A BID
PROCUREMENT OR AUCTION PROCESS HELD BY THE INDEPENDENT  SYSTEM  OPERATOR
("ISO")  OF NEW YORK, OR ANY SUCCESSOR IN LAW AND FUNCTION TO SUCH ENTI-
TY.
  (C) SUCH AUCTION OR BID PROCUREMENT PROCESS SHALL BE OVERSEEN  BY  THE
COMMISSION,  WHICH  SHALL REQUIRE A DESCENDING CLOCK, PAY-AS-BID AUCTION
IN WHICH BID AMOUNTS WILL CONTINUE TO FALL UNTIL NO BIDDER IS WILLING TO
SUPPLY ELECTRICITY AT A LOWER PRICE. FOR THE PURPOSES  OF  THIS  ARTICLE
"DESCENDING  CLOCK  AUCTION" SHALL BE DEFINED AS AN AUCTION IN WHICH THE
PRICES DROP THROUGHOUT AN AUCTION  OF  TIME-LIMITED  DURATION;  STARTING
HIGH AND BEING REDUCED GRADUALLY UNTIL THE SUPPLY BID IS JUST SUFFICIENT
TO  MEET  THE ELECTRICAL LOAD TO BE PROCURED. PRICES THAT TICK DOWN IN A
ROUND DECREASE BY A DECREMENT; WHICH IS A GIVEN PERCENTAGE OF THE PREVI-

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02311-01-5

              

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