Assembly approves bill requiring utilities to post per-project capital expenditure explanations

The Assembly on Jan. 20 passed Assembly No. 9441, an amendment to the Public Service Law that, according to sponsor Assemblymember Jacobson, requires utilities seeking rate increases to provide project-level explanations for capital expenditures and to post that information on the Public Service Commission website.

Jacobson said the measure is intended to increase transparency about the purposes and benefits of utility capital projects and how those projects affect rates. "This bill would require that the utility explain, on a per-project basis, the purpose and need for the capital expenditure, the total costs and benefits to ratepayers, and the operation of the distribution system," Jacobson said on the floor. "And this information must be posted on the Public Service Commission website." He argued such disclosures are necessary amid recurring rate increases.

The clerk recorded the vote following Jacobson’s explanation; the transcript shows the tally as Ayes 134, Noes 0 and the bill was passed. The bill text as read places new transparency obligations on utilities; the Assembly did not record floor amendments during the explanation.

Next steps: with passage in the Assembly, the bill will follow the Legislature’s process to reach final enactment or reconciliation with the Senate version as applicable.