Hundreds of thousands of New Yorkers will receive financial relief after a state settlement aimed at addressing alleged overbilling by energy service companies.
The agreement requires nine affiliated companies to provide $50 million in billing adjustments and up to $21 million in guaranteed future savings to customers.
The settlement impacts more than 278,000 current and former residential and small business customers, many of whom were enrolled in legacy contracts that did not comply with updated regulations.
As part of the agreement, companies must also offer a one-year product guaranteeing savings of at least 15% compared to standard utility rates or return customers to utility service.
State regulators said the action is part of a broader effort to protect consumers and ensure accountability in the energy marketplace.
The settlement resolves allegations that the companies violated multiple regulatory rules, though the companies denied many of the claims.
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