NY Pub Serv L § 72 (2021)
2021 New York Laws PBS - Public Service Article 4 - Provisions Relating to Gas and Electric Corporations; Regulation of Price of Gas and Electricity 72 - Notice and Hearing; Order Fixing Price of Gas or Electricity or Requiring Improvement.

§ 72. Notice  and hearing; order fixing price of gas or electricity or   requiring improvement.  Before proceeding under a complaint presented as   provided in section seventy-one, the commission shall  cause  notice  of   such complaint, and the purpose thereof, to be served upon the person or   corporation  affected  thereby. Such person or corporation shall have an   opportunity to be heard in respect to the matters  complained  of  at  a   time  and  place to be specified in such notice. An investigation may be   instituted by the commission of its own motion as to any matter of which   complaint may be made,  as  provided  in  section  seventy-one  of  this   chapter,  or  to  enable  it  to  ascertain  the  facts requisite to the   exercise of any power conferred upon it. After a hearing and after  such   an  investigation  as  shall  have  been  made  by the commission or its   officers, agents, examiners or inspectors, the commission may, by order,   fix just and reasonable prices, rates and charges for gas or electricity   to be charged by such corporation or  person,  for  the  service  to  be   furnished  notwithstanding  that  a  higher  or  lower  price  has  been   theretofore prescribed by general or special statute,  contract,  grant,   franchise  condition,  consent  or  other  agreement, and may order such   improvement in the manufacture, conveying, transportation,  distribution   or  supply  of  gas,  in  the  manufacture,  transmission  or  supply of   electricity, or in the methods employed by such person  or  corporation,   as  will  in  its  judgment  be  adequate, just and reasonable. Any such   change in price shall be upon such terms, conditions  or  safeguards  as   the  commission  may  prescribe.  If  it  shall be made to appear to the   satisfaction of the commission  that  the  public  interest  requires  a   change  in the price of gas or electricity charged by any such person or   corporation, or that  such  change  is  necessary  for  the  purpose  of   providing adequate and efficient service, or for the preservation of the   property,  the  commission, upon such terms, conditions or safeguards as   it deems proper,  may  authorize  an  immediate,  reasonable,  temporary   increase  or decrease in such price pending a final determination of the   price to be thereafter charged by such person or corporation. The terms,   conditions or safeguards  prescribed  may  include  provisions  for  the   purposes  for  which  the  additional  revenue  derived  from  any  such   temporary increase may be expended and for the impounding thereof  until   the  same shall be applied to the purposes so specified. The price fixed   by the commission under  this  section  or  under  subdivision  five  of   section  sixty-six  shall  be  the  maximum  price to be charged by such   person, corporation or municipality  for  gas  or  electricity  for  the   service  to  be  furnished  within  the territory and for a period to be   fixed by the commission in the order, not exceeding three  years  except   in  the  case  of  a  sliding scale, and thereafter until the commission   shall, upon its own motion or upon the  complaint  of  any  corporation,   person  or  municipality interested, fix a higher or lower maximum price   of gas or electricity to be thereafter charged. In determining the price   to be charged for gas or electricity the  commission  may  consider  all   facts which in its judgment have any bearing upon a proper determination   of  the  question although not set forth in the complaint and not within   the allegations contained therein, with due regard among other things to   a reasonable average return upon capital actually expended  and  to  the   necessity   of  making  reservations  out  of  income  for  surplus  and   contingencies. At any hearing involving a rate, the burden of  proof  to   show  that  the  change  in  rate  or  price  if proposed by the person,   corporation or municipality operating such utility, or that the existing   rate or price, if on motion of the commission or in  a  complaint  filed   with  the commission it is proposed to reduce the rate or price, is just   and reasonable shall be upon the  person,  corporation  or  municipality   operating  such  utility; and the commission may give to the hearing and    decision of such questions preference over all other  questions  pending   before  it  and decide the same as speedily as possible. Nothing in this   chapter contained shall be deemed to prohibit the commission from fixing   a  sliding scale upward rate for natural gas, beginning at a fixed price   per unit for a small consumption and then increasing the price per  unit   as the consumption is increased.