Republican members of the New York State Senate Committee on Energy and Telecommunications are pushing for a public hearing on a proposal they say could deliver billions of dollars in relief to New Yorkers facing rising utility bills.
State Senators Tom O’Mara, Mario Mattera, and Mark Walczyk sent a letter to committee chair Kevin Parker requesting a hearing on O’Mara’s bill, S.8461A.
The legislation would allow roughly $3 billion in unspent funds held by New York State Energy Research and Development Authority and utility companies to be returned directly to ratepayers as credits on their bills.
Under Senate rules, one-third of a committee’s members can petition to schedule a public hearing unless a majority votes it down. The Republican senators filed that petition this week.
The push comes after a recent NYSERDA memo outlined potential cost increases tied to the state’s climate and clean energy mandates. Lawmakers said projections show gasoline prices could climb to around $5.25 per gallon, while some upstate households could see heating costs rise by more than $4,000 annually.
O’Mara said the state should prioritize returning surplus funds to residents rather than holding the money in agency or utility accounts, pointing to sharp increases in electricity costs over the past several years. He also called for more transparency from state officials and utilities about how the funds are collected and used.
Mattera said families and businesses are already feeling the financial strain of higher energy costs and argued that lawmakers should act quickly to provide relief. Walczyk added that a public hearing would help ensure accountability and get money back to residents sooner.
According to budget documents, NYSERDA currently has a surplus exceeding $2 billion, with projections that the balance could reach $3 billion in the coming years. Utilities are also holding about $770 million in ratepayer funds through the state’s Clean Energy Fund.
If approved, the proposal would return those unspent dollars to customers in the form of utility bill credits.
