New York state utilities should face more regulatory oversight after ratepayers were hit with higher energy costs last winter, according to a report by the Senate Investigations and Government Operations Committee.
The report, which was released by the committee, led by state Senator James Skoufis, identified a range of factors contributing to the increased costs, including Russia’s invasion of Ukraine, the decommissioning of the two remaining nuclear reactors in Westchester County, and increased reliance on natural gas.
The report recommended steps that regulators could take to address the issue, including increased scrutiny of utility hedging plans and the expansion of renewable energy sources.
It also backed legislation aimed at relieving billing pressures on consumers, including measures to reimburse customers for overpayments and expand enrollment in energy assistance programs.
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