S 5687: Caps public gas corporations, public electric corporations and municipal gas and electric companies at a profit margin of four percent per year.
What S 5687 does, verified January 8, 2026
The bill aims to cap public utility profit margins at four percent. This means that public gas corporations, public electric corporations, and municipalities cannot operate with a profit margin above four percent per year. The term "profit margin" refers to the return on equity, calculated as the return on the equity portion of the rate allowed by the commission. The bill will take effect on January 1, following the date it becomes a law. Rules and regulations necessary for implementation can be made and completed on or before the effective date.
Bill journey
1IntroducedCurrent
2In CommitteePending
3First Chamber FloorPending
4Second ChamberPending
5GovernorPending
6ChapteredPending
Last action: REFERRED TO ENERGY AND TELECOMMUNICATIONS (2026-01-07)Alert me
Quick answers about S 5687
- What is the current status of S 5687?
- As of January 8, 2026, S 5687 is recorded as "Introduced": it has been introduced and is waiting for its first committee hearing or floor vote. The last recorded action, on January 7, 2026, was "REFERRED TO ENERGY AND TELECOMMUNICATIONS".
- Did S 5687 pass?
- Not yet. S 5687 has been introduced and has not passed either house.
- Who wrote S 5687, and where is it now?
- S 5687 was authored by Sen. James Skoufis. Its committee of record is Senate Energy & Telecommunications. It is filed under PBS, alongside 90 other New York PBS bills this session.
Author and sponsors
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| Jan. 07, 2026 | REFERRED TO ENERGY AND TELECOMMUNICATIONS |
| Feb. 27, 2025 | REFERRED TO ENERGY AND TELECOMMUNICATIONS |
Latest bill textIntroduced version, February 27, 2025 · 259 words
STATE OF NEW YORK ________________________________________________________________________ 5687 2025-2026 Regular Sessions IN SENATE February 27, 2025 ___________ Introduced by Sen. SKOUFIS -- read twice and ordered printed, and when printed to be committed to the Committee on Energy and Telecommuni- cations AN ACT to amend the public service law, in relation to capping certain public utility profit margins at four percent The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 65 of the public service law is amended by adding a 2 new subdivision 1-a to read as follows: 3 1-a. No public gas corporation, public electric corporation or munici- 4 pality shall operate with a profit margin of more than four percent as 5 measured on an annual basis. For the purposes of this subdivision, the 6 term "profit margin" shall mean the return on equity, which shall be the 7 return on the equity portion of the rate allowed by the commission. 8 § 2. This act shall take effect on the first of January next succeed- 9 ing the date on which it shall have become a law. Effective immediately, 10 the addition, amendment and/or repeal of any rule or regulation neces- 11 sary for the implementation of this act on its effective date are 12 authorized to be made and completed on or before such effective date. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD10064-01-5
Text of S 5687 as introduced, from the official record. Connect Plus keeps every version and highlights what changed.Compare versions