Assemblywoman Carrie Woerner Passes Bill to Help Customers Recover Unclaimed Funds

Assemblywoman Carrie Woerner (D – Round Lake) announced that her bill to require unclaimed deposits and refunds from Energy Service Companies (ESCOs) be added the Abandoned Property Fund passed the Assembly (A.10221 of 2024).

"The reality is that customer information changes, customers switch providers, or an ESCO no longer operates in the state,” said Assemblywoman Woerner. “With little incentive to contact customers and no legal requirement to relinquish these unclaimed funds, customers entitled to these funds may never receive what they’re owed. My bill would close the loophole and ensure a convenient place for current and former ESCO customers to reclaim their rightfully owed funds."

Currently, ESCOs can retain unclaimed customer deposits or refunds rather than remitting these unclaimed funds to the Abandoned Property Fund administered by the State Comptroller’s Office. Under this new bill, ESCOs, like other utilities included in the law, would be required to attempt to contact the customer about their unclaimed funds. If those efforts fail, they must relinquish the funds to the Comptroller. New Yorkers can then find unclaimed funds owed to them through the Office of Unclaimed Funds on the New York State Comptroller’s website.