5/9/07 N.Y. St. Reg. PSC-38-06-00012-A
PURSUANT TO THE PROVISIONS OF THE State Administrative Procedure Act, NOTICE is hereby given of the following action:
Action taken:
The commission, on April 18, 2007, adopted an order requiring utilities to develop standards for measuring, and goals for limiting price volatility; reporting to staff the strategies for structuring electric supply portfolios to limit volatility and the result of those strategies; recover volatility hedging and other commodity costs through commodity charges; and continue the existing gas utility hedging practices.
Statutory authority:
Public Service Law, sections 5(1)(b), 64, 65(1), 66(1), (5), (9), (10) and (12)
Subject:
Utility hedging practices and commodity portfolio management strategies and reporting.
Purpose:
To adopt policies, practices and procedures on utility hedging practices and commodity portfolio management strategies and reporting.
Substance of final rule:
The Commission adopted an order requiring utilities to develop standards for measuring, and goals for limiting price volatility; time period for reporting to Staff the strategies for structuring electric supply portfolios to limit volatility and the result of those strategies; to recover volatility hedging and other commodity costs through commodity charges; and to continue the existing gas utility hedging practices. The Commission will institute additional proceedings to address long-term contract and integrated resource planning, subject to the terms and conditions of the order.
Final rule compared with proposed rule:
No changes.
Text of rule may be obtained from:
Central Operations, Public Service Commission, Bldg. 3, 14th Fl., Empire State Plaza, Albany, NY 12223-1350, by fax to (518) 474-9842, by calling (518) 474-2500. An IRS employer ID no. or social security no. is required from firms or persons to be billed 25 cents per page. Please use tracking number found on last line of notice in requests.
Assessment of Public Comment
An assessment of public comment is not submitted with this notice because the rule is within the definition contained in section 102(2)(a)(ii) of the State Administrative Procedure Act.
