Alternate Recovery Mechanism and Accounting Changes

NY-ADR

7/6/22 N.Y. St. Reg. PSC-12-22-00008-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-12-22-00008-A
Filing Date. Jun. 17, 2022
Effective Date. Jun. 17, 2022
Alternate Recovery Mechanism and Accounting Changes
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 New York State Electric & Gas Corporation (NYSEG) and Rochester Gas and Electric Corporation (RG&E) to establish an alternative recovery mechanism for Unbilled Fees and conforming accounting changes.
Statutory authority:
Public Service Law, sections 65 and 66
Subject:
Alternate recovery mechanism and accounting changes.
Purpose:
To approve NYSEG and RG&E to establish an alternate recovery mechanism and conforming accounting changes.
Substance of final rule:
The Commission, on June 16, 2022, adopted an order approving New York State Electric & Gas Corporation (NYSEG) and Rochester Gas and Electric Corporation (RG&E) to establish an alternative recovery mechanism with a surcharge to recover Unbilled Fees for Rate Year One and a surcharge/surcredit for Rate Years Two and Three, subject to the offsetting cost reductions resulting from the COVID-19 pandemic and conforming accounting changes and shareholder contribution to offset arrearages to the benefit of customers. NYSEG and RG&E shall file, in conformance with the discussion in the body of the order, revised tariff leaves on not less than five days’ notice to become effective on July 1, 2022. NYSEG and RG&E are directed to file with the Commission, not later than six weeks following the amendments’ effective date, proof that a notice to the public of the changes made by the amendments has been published once a week for four successive weeks in newspapers having general circulation in the areas affected by the amendments. NYSEG is authorized to recover for Rate Year One its fee deferrals and carrying charges of $4.474 million for electric and $1.277 million for gas through the mechanism authorized in the order commencing July 1, 2022, through April 30, 2023. RG&E is authorized to recover for Rate Year One its fee deferrals and carrying charges of $2.293 million for electric and $2.422 million for gas through the mechanism authorized in the order commencing July 1, 2022, through April 30, 2023. NYSEG and RG&E shall file with the Secretary to the Commission within 60 days after the end of each Rate Year a reconciliation of the Unbilled Fees and related savings for Rate Years Two and Three. NYSEG and RG&E shall recover or pass back the fee deferral for Rate Year Two during the period from May 1, 2023, through April 30, 2024. NYSEG and RG&E shall recover or pass back the fee deferral for Rate Year Three during the period from May 1, 2024, through April 30, 2025, subject to the terms and conditions set forth in the order.
Text or summary was published
in the March 23, 2022 issue of the Register, I.D. No. PSC-12-22-00008-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.
(22-M-0119SA1)
End of Document