New legislation introduced by Assemblyman Simcha Eichenstein and State Senator Leroy Comrie has passed overwhelmingly in the New York State Assembly.  The legislation (A2400/S1847) will require the New York State Public Service Commission (PSC) to consider the economic impact of proposed rate hikes on consumers’ ability to pay before approving them, aiming to ensure families are not priced out of essential services. While utility companies can still earn a fair return, this legislation strengthens protections for ratepayers and promotes a more balanced, transparent rate-setting process.

As part of this review, the PSC will evaluate local income levels, unemployment data, and national trends in fuel and utility costs. This legislation will ensure that proposed rate increases are carefully weighed against their affordability to local consumers, helping to protect residents from the growing burden of rising utility costs.

“For too long, New Yorkers have struggled under the weight of substantial utility rate hikes,” said Assemblyman Simcha Eichenstein, the bill sponsor. “I am proud to have introduced this legislation, which will require the Public Service Commission to take a closer look at the economic impact of these increases. This is an important step toward easing the financial strain on families already dealing with the high cost of living in our state. I thank Senator Leroy Comrie for championing this bill in the State Senate.”

Assemblyman Eichenstein is committed to providing solutions that lower costs and help Midwood and Boro Park families afford everyday expenses. “No one should have to choose between keeping the lights on and making ends meet,” concluded Assemblyman Simcha Eichenstein.

This legislation represents a victory for all New Yorkers and will lead towards greater transparency and fairness in determining utility rates across the state.