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PSC Staff Must Review Financial Collateral by End of October
New York DPS Staff must review any standby letter of credit or surety bond that has been provided before April 30, 2026 by October 31, 2026.
As background, this docket implements the requirements of Senate Bill S3876 (Hoylman-Sigal).
As previously reported, on September 30, 2026 the New York electric and gas utilities filed updated cost estimates for implementing GBL §§ 349-d(9) and (10), which require side-by-side comparisons of ESCO charges and utility default service costs on residential and small commercial customer bills, along with annual 12-month comparisons provided by ESCOs.
ESCOs are responsible for implementation costs, with revised per-customer charges increasing to $9.76 for O&R (previously $1.76), $3.84 for Con Edison (previously $1.76), and $6.16 for National Grid (previously $3.62). NYSEG and RG&E previously reported charges of $14.14 and $12.63, respectively, while Central Hudson maintained its $1.09 estimate and National Fuel maintained its $0.86 initial charge plus $0.0616 per additional bill page.
The utilities also outlined EDI and online portal enhancements to provide ESCOs with the billing data needed to meet the new requirements.
