The Public Service Commission (PSC)’s Energy Efficiency Portfolio Standard (EEPS) program supports energy-efficiency initiatives with the aim of achieving a state goal of reducing electric and natural gas consumption 15 percent by 2015. Since the EEPS goal was established in 2008, the state has approved more than 100 energy-efficiency programs. Some of the approved programs are delivered by the state's electric utilities; others are delivered by New York State Energy Research and Development Authority (NYSERDA). In all cases, programs chiefly aimed at increasing customers’ energy-efficiency are funded through the EEPS fee collected from both electric and gas customers.
The program has been reauthorized by the PSC for the years 2011 through 2016. The EEPS program, particularly the portion implemented directly by Con Edison, provides benefits to our customers by reducing the need for additional electric infrastructure. As a result, we believe it is appropriate to support somewhat higher EEPS collections in future years, balancing the costs of the program with the impact of those costs on our customers.