Assembly Proposed Budget Provides Critical Relief to New Yorkers Struggling with Rising Utility Rates

Speaker Carl Heastie and Energy Committee Chair Didi Barrett today announced that the Assembly State Fiscal Year (SFY) 2026-27 Budget would provide critical relief to New Yorkers struggling with rising utility rates. New York is facing some of the highest utility rates in the nation. This proposed budget includes critical provisions to rein in rising rates and put money back into New Yorkers’ pockets.

“As New Yorkers faced down a brutally cold winter, we also paid among the highest utility rates in the country. The Assembly Majority is committed to bringing those rates down,” Speaker Heastie said. “This budget will put money back into New Yorkers pockets while working on comprehensive solutions to bring rates down.”

“The Assembly One House budget proposal includes critical affordability measures that will provide short-term and long-term relief from the high utility rates that families across the state are facing right now,” said Assemblymember Barrett. “From rebate checks for ratepayers, a pause on utility assessments, and a freeze on utility rate increases, we are committed to helping lower costs and make New York State more affordable for our families.”

The Assembly’s budget includes relief for New York families through Protecting Out Wallets Energy Rebate (POWER) Checks. Eligible residential ratepayers with incomes below $150,000 would receive a $500 check, while those with incomes between $150,000 and $300,000 would receive a $300 check. Overall, this would provide $2.6 billion in relief to New Yorkers struggling with the rising cost of utility bills.

The proposed budget would include a two-year moratorium on approving new rate cases or implementing already approved rate increases that would result in an increase in electric or gas rates. It would also establish the Blue-Ribbon Commission on Residential Affordability Through Energy Savings (RATES Commission) to study the causes and origins of rising rates and recommend actions to reduce rates.

The proposal would provide $163.3 million in relief to ratepayers across New York State by shifting an existing assessment from ratepayers’ monthly utility bills to the General Fund, including $134.6 million for Department of Public Service operating costs and $28.7 million for NYSERDA operating costs.

The budget includes $2.1 million to establish the State Office of the Utility Consumer Advocate and $1 million for utility intervenor reimbursements.