Petition for Amortization Period and Incentive Mechanism

NY-ADR

7/6/22 N.Y. St. Reg. PSC-04-22-00002-A
NEW YORK STATE REGISTER
VOLUME XLIV, ISSUE 27
July 06, 2022
RULE MAKING ACTIVITIES
PUBLIC SERVICE COMMISSION
NOTICE OF ADOPTION
 
I.D No. PSC-04-22-00002-A
Filing Date. Jun. 17, 2022
Effective Date. Jun. 17, 2022
Petition for Amortization Period and Incentive Mechanism
PURSUANT TO THE PROVISIONS OF THE State Administrative Procedure Act, NOTICE is hereby given of the following action:
Action taken:
On 6/16/22, the PSC adopted an order approving Consolidated Edison Company of New York, Inc.'s (Con Edison) petition for a 20-year amortization period on Non-Pipe Alternative (NPA) projects and an incentive mechanism for specified projects.
Statutory authority:
Public Service Law, sections 5, 5(2), 65 and 66
Subject:
Petition for amortization period and incentive mechanism.
Purpose:
To approve Con Edison's petition for amortization period and incentive mechanism.
Substance of final rule:
The Commission, on June 16, 2022, adopted an order approving Consolidated Edison Company of New York, Inc.'s (Con Edison) petition for a 20-year amortization period on Non-Pipe Alternative (NPA) projects and an incentive mechanism for specified projects. The 20-year amortization period for cost recovery for the four specified projects proposed by Con Edison is adopted, provided that such projects have begun meaningful implementation prior to the date of a future Commission Order addressing non-pipe alternative cost recovery mechanisms in Case 20-G-0131. The incentive mechanism for the four specified projects proposed by Con Edison is adopted with the modifications described in the body of the order, provided that such projects have begun meaningful implementation prior to the date of a future Commission Order addressing non-pipe alternative incentive mechanisms in Case 20-G-0131. Con Edison shall, upon implementation of its first non-pipe alternative project, file an Implementation Plan that shall contain information for each non-pipe alternative project implemented related to the measures employed, the Company’s approach to third-party procurement, customer acquisition, and other relevant information. Con Edison shall file an update to the Implementation Plan directed in Ordering Clause No. 3 one year after filing such Implementation Plan, and shall continue to update such Implementation Plan on an annual basis, or more frequently as necessary. Con Edison shall file an Annual Report on the same date as the first annual update to the Implementation Plan as required in Ordering Clause No. 4, and shall file such reports annually thereafter. Such Annual Reports shall provide information tracking project expenditures, incremental costs, in-service dates, and assessments of savings for each non-pipe alternative project implemented. Con Edison shall file a Benefit Cost Analysis for each non-pipe alternative project it implements. This Benefit Cost Analysis filing shall provide detailed non-pipe alternative project costs and benefits, identify of any costs that are incremental to the Company’s revenue requirement, explain whether the non-pipe alternative project will displace a traditional project subject to the Capital Investment Reconciliation mechanism, and provide details of project cost recovery, and calculate of the Initial Incentive. Con Edison shall develop an operating procedure for the calculation of financial incentives, as described in the body of the order, and file such procedure in Case 19-G-0066 within 30 days of the effective date of the order. Con Edison shall develop a detailed accounting procedure for the recovery of financial incentives, as described in the body of the order, and file such procedure in Case 19-G-0066 within 30 days of the effective date of the order, subject to the terms and conditions set forth in the order.
Text or summary was published
in the January 26, 2022 issue of the Register, I.D. No. PSC-04-22-00002-P.
Final rule as compared with last published rule:
No changes.
Text of rule may be obtained from:
John Pitucci, Public Service Commission, 3 Empire State Plaza, Albany, New York 12223-1350, (518) 486-2655, email: [email protected]An IRS employer ID no. or social security no. is required from firms or persons to be billed 25 cents per page. Please use tracking number found on last line of notice in requests.
Assessment of Public Comment
An assessment of public comment is not submitted with this notice because the rule is within the definition contained in section 102(2)(a)(ii) of the State Administrative Procedure Act.
(19-G-0066SA4)
End of Document