NY State Senate Bill 2015-S3975

Archive: Last Bill Status - In Senate Committee Energy And Telecommunications 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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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 06, 2016	referred to energy and telecommunications
Feb 25, 2015	referred to energy and telecommunications

2015-S3975 (ACTIVE) - Details

See Assembly Version of this Bill:: A1993
Current Committee:: Senate Energy And Telecommunications
Law Section:: Public Service Law
Laws Affected:: Amd §66, Pub Serv L
Versions Introduced in Other Legislative Sessions:: 2011-2012: S5514, A7306
2013-2014: S3091, A2846
2017-2018: S3619, A3755
2019-2020: S1622

2015-S3975 (ACTIVE) - Summary

Relates to the annual reports required to be filed by gas and electric corporations.

2015-S3975 (ACTIVE) - Sponsor Memo

                                BILL NUMBER:S3975

TITLE OF BILL:

An act to amend the public service law, in relation to annual reports
required to be filed by gas and electric corporations

PURPOSE:

This bill will require the filing of annual reports to the Public
Service Commission by the various gas and electric corporations, and
elucidates the parameters of such reports.

SUMMARY OF PROVISIONS:

This bill amends subsection 6 of section 66, as amended by Chapter 784
of the laws of 1923, of the Public Service Law to require the filing
of annual reports by gas and electric corporations.

JUSTIFICATION:

For nearly a century, since the founding of the department of public
service (Commission), New York energy corporations have been required
by law to file an annual report. The annual report is a necessary tool
in maintaining transparency and oversight of the industry, providing
critical information on the operations, accounts, capital, debt, and

management of power producers.  The Commission has confirmed that it
has unilaterally exempted power producers from filing annual reports,
for perhaps as long as the last twenty years. In 1991 the Commission
waived the annual reporting requirement for a small 95 megawatt
cogeneration facility. Since this decision, the Commission has opened
the door to a blanket exemption for the entire power producing
industry, including multi-billion dollar corporations such as Eatergy.

Without annual reporting, New Yorkers do not have accessible
information on the sales, revenue, costs, or price of electricity at
power generating facilities. In the absence of maintaining and
analyzing the critical market information neither the ratepayers nor
the Commission can: 1.) assure that the industry is providing
consumers with the lowest possible prices within a restructured,
competitive marketplace; 2.) determine the competitiveness of energy
markets and improve the inefficiencies; or 3.) guard against market
manipulation and opportunities for collusion.

This bill reinstates the PSC's fundamental statutory duty to oversee
and assure that just and reasonable rates are charged by power
producers by compelling the corporations, without exception, to file
annual reports for review by the PSC.

LEGISLATIVE HISTORY:

2013-14: S.3091/A.2846 - Referred to Energy and Telecomm
2011-12: S.5514/A.7306 - Referred to Energy and Telecomm/ Passed the
Assembly

FISCAL IMPLICATIONS:


None to the state.

EFFECTIVE DATE:

This act shall take effect immediately.

2015-S3975 (ACTIVE) - Bill Text download pdf

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

                                  3975

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            February 25, 2015
                               ___________

Introduced  by  Sen.  PARKER -- read twice and ordered printed, and when
  printed to be committed to the Committee on  Energy  and  Telecommuni-
  cations

AN  ACT  to  amend the public service law, in relation to annual reports
  required to be filed by gas and electric corporations

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

  Section  1.  Subdivision 6 of section 66 of the public service law, as
amended by chapter 784 of the laws  of  1923,  is  amended  to  read  as
follows:
  6.  [Require]  NOTWITHSTANDING  ANY  OTHER RULE, REGULATION, OR ORDER,
REQUIRE every person and corporation under its supervision and it  shall
be  the  duty  of  every  such  person  and corporation to file with the
commission an annual report, verified by  the  oath  of  the  president,
vice-president,  treasurer,  secretary, general manager, or receiver, if
any, thereof, or by the person required to file the same. The  verifica-
tion  shall  be  made by said official holding office at the time of the
filing of said report, and if not made upon the knowledge of the  person
verifying  the  same  shall set forth the sources of his information and
the grounds of his belief as to any matters not stated  to  be  verified
upon  his  knowledge.  The report shall show in detail (a) the amount of
its authorized capital stock and the amount thereof issued and outstand-
ing; (b) the amount of its authorized bonded indebtedness and the amount
of its bonds and other forms of  evidence  of  indebtedness  issued  and
outstanding;  (c)  its  receipts  and  expenditures during the preceding
year; (d) the amount paid as dividends upon its stock  and  as  interest
upon  its  bonds; (e) the names of its officers and the aggregate amount
paid as salaries to them and the amount paid as wages to its  employees;
(f)  the  location  of  its  plant  or  plants  and  system, with a full
description of its property and franchises, stating in detail  how  each
franchise  stated  to  be  owned  was acquired; and (g) such other facts

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01261-01-5

S. 3975                             2

pertaining to the operation and maintenance of the plant and system, and
the affairs of such person or corporation as  may  be  required  by  the
commission.  Such  reports shall be in the form, cover the period and be
filed at the time prescribed by the commission. The commission may, from
time  to time, make [changes and] additions in such forms. When any such
report is defective or believed to be erroneous,  the  commission  shall
notify  the  person,  corporation  or municipality making such report to
amend the same within a time prescribed  by  the  commission.  Any  such
person  or  corporation  or municipality which shall neglect to make any
such report or which shall fail to correct any such  report  within  the
time  prescribed  by  the commission shall be liable to a penalty of one
hundred dollars and an additional penalty of  one  hundred  dollars  for
each day after the prescribed time for which it shall neglect to file or
correct  the same, to be sued for in the name of the people of the state
of New York. The amount recovered in any such action shall be paid  into
the  state  treasury and be credited to the general fund. The commission
may extend the time prescribed for cause shown.
  S 2. This act shall take effect immediately.

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Senate Bill S3975

Sponsored By

Archive: Last Bill Status - In Senate Committee Energy And Telecommunications Committee

2015-S3975 (ACTIVE) - Details

2015-S3975 (ACTIVE) - Summary

2015-S3975 (ACTIVE) - Sponsor Memo

2015-S3975 (ACTIVE) - Bill Text download pdf

Comments

Senate Bill S3975

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Sponsored By

Kevin S. Parker

Archive: Last Bill Status - In Senate Committee Energy And Telecommunications Committee

2015-S3975 (ACTIVE) - Details

2015-S3975 (ACTIVE) - Summary

2015-S3975 (ACTIVE) - Sponsor Memo

2015-S3975 (ACTIVE) - Bill Text download pdf

Comments