Prohibits utility corporations from imposing late fees, interest, or penalties during an investigation by the commission; allows retroactive late fees, interest, or penalties if a determination is made in favor of such utility corporation; prohibits utility services from being terminated during an investigation by the commission; requires utility corporations to notify customers of investigations; requires notice to the general public; requires the public service commission to prepare reports on investigatory proceedings relating to gas, electric, and steam service.

This bill prohibits utility companies from charging late fees, interest, or penalties while the New York Public Service Commission is investigating them. It also prevents utility services from being shut off during such investigations and requires companies to inform customers and the public about these investigations. If the investigation finds in favor of the utility, they can impose retroactive fees.

Supporters of the bill argue that it protects consumers from unfair financial penalties while investigations are ongoing, ensuring that they have access to essential services without the threat of disconnection. They believe this legislation promotes transparency and accountability within utility corporations, ultimately benefiting the public.

Critics of the bill may argue that allowing retroactive fees if a utility wins an investigation could lead to financial burdens on consumers. They might also express concern that the bill could discourage utility companies from making necessary improvements or adjustments while under investigation, potentially impacting service quality.