New York State PSC released the following statement following Thursday’s vote:
Governor Kathy Hochul also released a statement shortly after the vote:
“When NYSEG and RG&E proposed outrageous electric rate increases last year, I directed the Department of Public Service to scrutinize every number and word of the companies’ proposal. I’m pleased to see the PSC was able to cut the companies’ initial proposal by 50 percent, but I recognize the final electric rates are still likely to strain household budgets across New York. That’s why this year, we secured $400 million in our Budget to provide relief to New Yorkers experiencing high electric bills, and we are now expanding eligibility for utility affordability programs to include all median-income households. Energy affordability is a top priority, and I will always act to protect New Yorkers.”
New York State’s Public Service Commission is expected to decide today whether it will permit New York State Electric and Gas (NYSEG) and Rochester Gas and Electric (RG&E) to increase rates for your gas and electricity. The plan up for consideration spreads out price increases over three years instead of all at once.
NYSEG electric rates would increase 22% over the next three years, and natural gas would increase by just over 6%.
RG&E’s electric rate would increase by 16% and gas rates would increase by almost 11%.
If approved, customers could see an average increase of about $10 a month.
The company says the hike is needed to keep up with clean energy and sustain future operations.
