Senate advances renewable hydrogen incentive and public service law bills

The Senate Standing Committee on Energy and Telecommunications convened on May 13, 2025, to discuss several key pieces of legislation aimed at amending public service laws in New York. The meeting focused on three bills, each addressing different aspects of energy regulation and utility management.

The first item on the agenda was Bill No. 7132, sponsored by Senator Parker. This bill proposes the establishment of a renewable hydrogen incentive program. After a motion was made and seconded, the committee moved to refer the bill to the finance committee, with no objections noted.

Next, the committee reviewed Bill No. 7328, also sponsored by Senator Hitching. This legislation pertains to the commissioners of the Public Service Commission. Following a brief discussion, the bill was moved and seconded, and it advanced to a third reading without any dissenting votes.

The final bill discussed was Bill No. 7693, sponsored by Senator Mayer. This bill aims to address the retention of revenues derived from the actual return on equity that exceeds authorized rates for gas and electric corporations. Senator Welch raised concerns regarding the implications of this bill on revenue distribution, particularly how excess profits would be allocated back to ratepayers rather than shareholders. The discussion clarified that the Public Service Commission (PSC) would have the authority to determine the distribution of excess revenues, potentially favoring residential or commercial ratepayers.

After further deliberation, a motion was made to send this bill to the finance committee, but the committee ultimately decided to advance it to the floor for a vote. The meeting concluded with all bills moving forward in the legislative process, reflecting the committee's commitment to enhancing energy regulation and ensuring fair practices for ratepayers in New York.