In January 2026, Jonathan Lesser testified on behalf of the New York Public Service Commission in a FERC case (Viridon New York, Docket No. EL24-67-001) on the appropriate allowed return on equity for a transmission developer. As part of regulating the rates charged by transmission owners and regional transmission operators such as the New York Independent System Operator, FERC must set the allowed return on equity for capital investments. Copies of Jonathan's testimony are available on the FERC website.