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Senate bill · S9433 (2025-26)

Relates to requiring gas and electric corporations to disclose certain information with an application for a major rate change

New York State Senate

Same as A11578, the matching bill in the Assembly.

Latest action Jun 5, 2026

Sponsor: Kevin S. Parker (State Senator, District 21, Democratic/Working Families)

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From NY Open Legislation, the NY Senate and Assembly, and official rosters. This record was last updated Oct 21, 2026. About our data

Summary

Requires a gas and electric corporation to disclose certain information with an application for a major rate change; requires information relating to dividends paid to shareholders, capital investments, and policy expenditures; requires each application to include a dividend forecast covering the requested rate period.

Summary from NY Open Legislation. How we handle summaries

Amends the Public Service Law.

Purpose, from the sponsor's memo

To increase transparency and accountability in utility rate cases by requiring gas and electric corporations to disclose past financial prac- tices and investment performance when applying for major rate increases.

Filed with the bill. Read it on nysenate.gov (opens in a new tab)

Where it stands

Passed one of the two chambers; it still needs the other.

  1. Introduced
  2. In committee
  3. Up for a vote
  4. Passed one chamber
  5. Passed
  6. Enacted

Committee

Corporations, Authorities and Commissions · New York State Assembly

Also referred to Corporations, Authorities And Commissions · New York State Senate, Energy · New York State Assembly, Energy And Telecommunications · New York State Senate.

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Cosponsors

Showing the cosponsors who are on Agora, A to Z. The official record may list more.

Read on NY Senate (opens in a new tab)
  • Republican1

Shown in neutral colors by design; Agora is non-partisan.

The sponsor's argument

Why Kevin S. Parker says this is needed

New York residents continue to face rising energy costs while utilities regularly seek significant rate increases. When utilities request higher rates, regulators and the public must have access to a clear record of the company's financial decisions and infrastructure investments. Currently, the Public Service Commission reviews proposed rate increases largely based on forward-looking projections. However, there is often limited standardized disclosure regarding a utility's historical performance, including whether prior commitments to infrastructure improvements were fulfilled or how shareholder dividends compare to investments in the energy system. This legislation strengthens regulatory oversight by requiring utilities to provide a comprehensive ten-year retrospective disclosure when seek- ing a major rate increase. This information will allow the Public Service Commission, policymakers, and the public to better evaluate: *Whether ratepayer funds previously approved were invested as promised. *The balance between shareholder returns and infrastructure investment. *The financial management practices of the utility requesting higher rates. By ensuring that prior commitments and financial decisions are clearly disclosed, this legislation promotes responsible utility governance, transparency, and informed rate-setting decisions. Ultimately, it helps protect consumers from unjustified rate increases while strengthening public confidence in the regulatory process.

This is the sponsor's own case for the bill, quoted from their memorandum. It is not Agora's description of what the bill does.

Recorded votes

  • Vote: Floor vote

    NY SenateJun 3, 2026Result: passed

    (61) (0) (0) (2)

  • Vote: Committee vote · Energy And Telecommunications

    Senate Energy And TelecommunicationsMar 24, 2026Result: passed

    (9) (0) (0) (0)

Full history

  1. Jun 5, 2026

    Referred to committee

    REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS

    NY Assembly

  2. Jun 3, 2026

    Sent to the executive

    DELIVERED TO ASSEMBLY

    NY Senate

  3. Jun 3, 2026

    Passed a chamber

    PASSED SENATE

    NY Senate

  4. Jun 3, 2026

    Referred to committee

    REFERRED TO ENERGY

    NY Assembly

  5. May 20, 2026

    Amended

    AMENDED ON THIRD READING 9433B

    NY Senate

Show full history (5 earlier events)
  1. Mar 26, 2026

    Advanced to Third Reading

    ADVANCED TO THIRD READING

    NY Senate

  2. Mar 25, 2026

    2ND Report CAL.

    2ND REPORT CAL.

    NY Senate

  3. Mar 24, 2026

    1ST Report CAL.637

    1ST REPORT CAL.637

    NY Senate

  4. Mar 18, 2026

    Amend and Recommit to Energy and Telecommunications

    AMEND AND RECOMMIT TO ENERGY AND TELECOMMUNICATIONS

    NY Senate

  5. Mar 12, 2026

    Referred to committee

    REFERRED TO ENERGY AND TELECOMMUNICATIONS

    NY Senate

Read the record