Requires consideration of evidence relating to the economic impact of major increases of rates or charges upon consumers and the areas affected by such increases of rates or charges prior to approval of any such rates or charges; establishes minimum data to be considered by the public service commission relating to such economic impact.

This bill requires the New York Public Service Commission to consider how significant increases in rates or charges will affect consumers and their communities before approving such changes. It sets minimum data requirements to assess the economic impact of these rate hikes, ensuring that the concerns of consumers are taken into account.

Supporters of this bill argue that it protects consumers by ensuring that their financial well-being is considered before any major rate increases are approved. They believe it promotes transparency and accountability in the decision-making process of the Public Service Commission.

Critics of the bill may argue that it could slow down the approval process for necessary rate changes, potentially hindering the ability of utility companies to respond to market conditions. They might also contend that the additional data requirements could lead to increased regulatory burdens and costs.