Relates to limiting rate increases that entail a return on equity for capital projects

Summary

The bill adds a new rule to New York’s public service law that caps the profit rate utilities can earn on capital projects when they raise customer rates. The cap is set at the current ten‑year Treasury yield plus one percent. This is intended to keep rate hikes from delivering excessive returns to investors.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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