Ritchie Torres

My guy. Some would think of my advocacy for public safety as challenging from the right.

My guy. Some would think of my advocacy for public safety as challenging from the right.

But the concern about affordability, I mean, that could be argued that that's a challenge from the left. I mean, I'm someone, for example, who believes that our public utilities, particularly our gas and electric utilities, should be owned by the pension funds so that people pay a far lower rate I mean, every year, my constituents have seen double-digit increases in their utility bills.

But the concern about affordability, I mean, that could be argued that that's a challenge from the left. I mean, I'm someone, for example, who believes that our public utilities, particularly our gas and electric utilities, should be owned by the pension funds so that people pay a far lower rate I mean, every year, my constituents have seen double-digit increases in their utility bills.

But the concern about affordability, I mean, that could be argued that that's a challenge from the left. I mean, I'm someone, for example, who believes that our public utilities, particularly our gas and electric utilities, should be owned by the pension funds so that people pay a far lower rate I mean, every year, my constituents have seen double-digit increases in their utility bills.

I don't want to get too complicated.

I don't want to get too complicated.

I don't want to get too complicated.

But I find this a fascinating idea. Go. Yes. So the Public Service Commission regulates utilities like Con Edison. And the trouble with the Public Service Commission, which is ultimately accountable to the governor, is that it authorizes a rate of return that's far above the actual cost of capital. the actual cost that you would need to operate the utility.

But I find this a fascinating idea. Go. Yes. So the Public Service Commission regulates utilities like Con Edison. And the trouble with the Public Service Commission, which is ultimately accountable to the governor, is that it authorizes a rate of return that's far above the actual cost of capital. the actual cost that you would need to operate the utility.

But I find this a fascinating idea. Go. Yes. So the Public Service Commission regulates utilities like Con Edison. And the trouble with the Public Service Commission, which is ultimately accountable to the governor, is that it authorizes a rate of return that's far above the actual cost of capital. the actual cost that you would need to operate the utility.

And I'm convinced if those utilities were owned by pension funds, which would demand lower returns than shareholders, because they're patient capital. If you tell them, we guarantee you 6% returns for the next 50 years, they're happy with 6%, they don't need 9%, they don't need 10%. So I am convinced that public ownership of these utilities through the pension funds

And I'm convinced if those utilities were owned by pension funds, which would demand lower returns than shareholders, because they're patient capital. If you tell them, we guarantee you 6% returns for the next 50 years, they're happy with 6%, they don't need 9%, they don't need 10%. So I am convinced that public ownership of these utilities through the pension funds

And I'm convinced if those utilities were owned by pension funds, which would demand lower returns than shareholders, because they're patient capital. If you tell them, we guarantee you 6% returns for the next 50 years, they're happy with 6%, they don't need 9%, they don't need 10%. So I am convinced that public ownership of these utilities through the pension funds

would actually lower cost, utility cost, for everyday New Yorkers.

would actually lower cost, utility cost, for everyday New Yorkers.

would actually lower cost, utility cost, for everyday New Yorkers.

But is that left-wing or right-wing? You could argue that's an attack from the left, but I just think that's common sense. It's good policy.

But is that left-wing or right-wing? You could argue that's an attack from the left, but I just think that's common sense. It's good policy.

But is that left-wing or right-wing? You could argue that's an attack from the left, but I just think that's common sense. It's good policy.