Statement in Support of Joint Proposal
In this filing dated October 12, 2007, the New York State Department of State Division of Consumer Protection explains its full support of a Joint Proposal regarding the rates, terms and conditions of service by KeySpan Energy Delivery New York and KeySpan Energy Delivery Long Island, filed on October 11, 2007, which we helped negotiate. We explain that the Joint Proposal fairly resolves several important issues for consumers, including a new energy efficiency program sponsored by the utilities, additional funding for low-income assistance programs and an opportunity to review the level of actual site investigation and remediation costs in 2010 to determine if changes in rates are required
Testimony Regarding Policy Issues
The New York State Department of State Division of Consumer Protection submitted this testimony on regulatory policy issues applicable to KeySpan's gas operations on January 29, 2007. It explains that a new gas efficiency program should be established to provide the benefits of energy efficiency to KeySpan customers, utilities' disincentive to promote conservation should be eliminated, and ratepayer subsidies of competitive energy companies should be terminated. This testimony also shows that changes are required to the Company's gas cost incentive mechanisms and to the methodology for determining its gas supply requirements.
Testimony Regarding Accounting Issues
In this testimony, the New York State Department of State Division of Consumer Protection shows that KeySpan has substantially overstated its need for a rate increase. We demonstrate that substantial adjustments are necessary to the Company's projections of pension expense, productivity, tax expenses and incentive compensation.
Testimony Regarding Profit Rate
In testimony filed January 29, 2007, the New York State Department of State Division of Consumer Protection demonstrates that KeySpan's proposed return on equity is excessive and that a fair return on equity for the Company is approximately 9%.
Testimony on Low-Income Assistance Programs
The New York State Department of State Division of Consumer Protection proposes in this testimony, to strengthen the service quality standards applicable to KeySpan and to enhance its low-income assistance programs.
Last Modified: May 02, 2011