New York State Public Service Commission

Three-year rate plan proceedings — PSC is conducting multi-year rate proceedings for Con Edison, National Grid, and Niagara Mohawk. Three-year rate plans lock in allowed returns and capital expenditure programs through 2027–2028. Key disputes include allowed ROE, capital structure, and whether climate infrastructure investments earn a premium return. PSC has signaled preference for lower allowed returns given rising customer affordability pressure.

Large load and data center proceeding — PSC opened Case 24-E-0284 in 2024 to address large load growth, particularly data centers in the Hudson Valley and Westchester corridor. The proceeding examines cost allocation (socialized vs. direct assignment), standby reliability obligations, and whether large customers can use behind-the-meter generation to reduce grid impact. Interconnection queue backlogs are creating multi-year delays.

Transmission investment and offshore wind interconnection — New York's climate law (CLCPA) requires 70% renewable electricity by 2030. The Champlain Hudson Power Express (1,250 MW from Quebec hydro) is under construction; New York offshore wind projects face cost pressures following contract restructuring. NYSERDA and NYISO are coordinating transmission buildout, but permitting timelines are compressing the 2030 target.

Climate Leadership and Community Protection Act (CLCPA) compliance pressure — CLCPA mandates 85% GHG reduction by 2050 and 70% renewable electricity by 2030. PSC proceedings are incorporating climate benchmarks into rate cases. Gas utility long-term planning is under scrutiny, with PSC examining whether continued gas distribution capital investment is consistent with CLCPA targets.

Con Edison rate and affordability tension — Con Edison serves NYC's 8.3M residents; rate increases under the 2025–2027 plan average 8–11% annually, compounding with inflation. NYC Council and state legislators have pushed PSC to scrutinize Con Ed's capital spending for gold-plating. Allowed ROE of 8.8% is below Con Ed's requested 9.5%.