Noting controversy surrounding multi-year incentive agreements in utility rate cases, the New York Public Service Commission (PSC) has approved guidelines for filing multiyear rate proposals and requests to depart from approved rate plans. The guidelines deemphasize the importance of "global" settlements in such cases, and reaffirm the rights of nonsettling parties to litigate issues raised by incentive and multiyear rate proposals. The PSC acknowledged the worth of multi-year settlements, but declined to rely exclusively on such agreements. Re Motion to Investigate and Develop Rate Setting Process, Case 92-M-1145, Jan. 25, 1996 (N.Y.P.S.C.).
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