Res 0555-2026

Res. No. 555 ..Title Resolution calling on the New York State Legislature to pass, and the New York State Governor to sign, S.5553C/A.5442B, S.1847A/A.2400A, S.1896/A.1028, S.1327A/A.4105A, and S.7693/A.8150, which would improve utility affordability, transparency, and consumer protections ..Body By Council Members Morano and Louis Whereas, Utilities are the basic services provided to homes, apartments, or businesses to keep them running properly; and Whereas, Common utilities include electricity and natural gas, and are vital to the wellbeing of residents in New York City ("NYC") and New York State ("NYS"); and Whereas, Over the years, utility costs in NYC and NYS have increased dramatically, placing financial strain on many residents; and Whereas, In addition, confusion around utility billing and available protections for consumers has increased; and Whereas, According to data from the Empire Center for Public Policy and the United States ("U.S.") Energy Information Administration, NYS households pay relatively high electricity and natural gas prices as compared to other states in the nation; and Whereas, This data shows that, in February 2026, the average residential electricity price in NYS was 29.99 cents per kilowatt-hour, ranking sixth highest in the U.S. and 70 percent above the U.S. average, and in January 2026, the average residential natural gas price was $16.01 per thousand cubic feet, ranking the nineteenth highest in the nation and 15 percent above the U.S. average; and Whereas, In addition, a March 2026 article by CityLimits notes that the price of electricity in NYS, which is largely generated by natural gas, increased by 50 percent from January 2025 to January 2026, and in the past 5 years, the average Con Edison electric bill for NYC residents increased by 37 percent, from $83 to $113; and Whereas, According to Con Edison's analysis of summer bills for 2026, NYC residential customers may see an average increase of about 5.7 percent in their utility bills for summer 2026, with NYC residential electric customers that use 280 kilowatt-hours seeing a $4.03 increase, or 3.9 percent, in bills, and NYC residential gas customers that use 100 therms on average per month seeing a $10.67 increase, or 4.4 percent, in bills; and Whereas, Legislation has been introduced at the NYS level to improve utility affordability, transparency, and consumer protections; and Whereas, S.5553C, introduced by NYS Senator Leroy Comrie and passed by the NYS Senate, and companion bill A.5442B, introduced by former NYS Assembly Member Zohran Mamdani, would enact the "rate hike notice act" to require utilities in NYS to provide notice of a proposed rate hike to a customer via text, email, and via such customer's monthly billing statement; and Whereas, S.1847A, introduced by NYS Senator Comrie, and companion bill A.2400A, introduced by NYS Assembly Member Simcha Eichenstein, were passed by the NYS Senate and Assembly, and would require the Public Service Commission ("PSC") to consider the economic impact of utility rates and charges; and Whereas, S.1896, introduced by NYS Senator Shelley Mayer and passed by the NYS Senate, and companion bill A.1028, sponsored by NYS Assembly Member Didi Barrett, would require certain utilities to adopt the common equity ratio and rate of return on equity authorized by the PSC; and Whereas, S.1327A, introduced by NYS Senator Kevin Parker, and companion bill A.4105A, introduced by NYS Assembly Member Brian Cunningham, were passed by the NYS Senate and Assembly, and would establish minimum standards for payment plans for eligible customers; and Whereas, S.7693, introduced by NYS Senator Mayer and passed by the NYS Senate, and companion bill A.8150, introduced by NYS Assembly Member Barrett, relates to the retention of revenues derived from their actual return on equity in excess of authorized rates of return by gas, electric, or combination gas and electric corporations; and Whereas, Ultimately, passing, if not already passed, and signing these important pieces of legislation would improve New Yorkers' lives by strengthening consumer protections, improving transparency around utility costs, promoting utility affordability, and helping ensure greater accountability in utility regulation; now, therefore, be it Resolved, That the Council of the City of New York calls on the New York State Legislature to pass, and the New York State Governor to sign, S.5553C/A.5442B, S.1847A/A.2400A, S.1896/A.1028, S.1327A/A.4105A, and S.7693/A.8150, which would improve utility affordability, transparency, and consumer protections. KK LS 24286 6/26/26