New York Democrats are criticizing private, investor-owned utilities as they seek solutions to rising home energy prices that have discontented voters.
Gov. Kathy Hochul has proposed new compensation disclosure requirements for utility executives as she and other state Democrats question whether corporate earnings are factored into ratepayer costs. She also wants to require the state’s Public Service Commission to develop “performance-based targets” that tie utility CEO and managerial compensation to energy prices for ratepayers, and consider adjustments to the utility corporation’s return on equity based on that metric.
Progressive lawmakers also want stricter scrutiny of how utilities recover profits when …