New York State Electric & Gas (NYSEG) and Rochester Gas and Electric (RG&E), subsidiaries of AVANGRID, Inc. have filed a proposed rate case settlement with the New York Public Service Commission (NYPSC).
The proposed agreement, based on the facets of the Companies’ “Reliable Energy New York,” plan, represents more than a year of work with stakeholders, including customer groups, industry, environmental interests, and the New York State Department of Public Service, with more than eight parties signing all or portions of the settlement that determines how the Companies can best meet the needs of customers and New York State’s goals while maintaining some of the lowest energy rates in the state. While the Companies’ original proposal requested a 22 percent total increase, negotiations with the parties to the rate case resulted in compromises that will have lower impacts to customer bills. According to the utilities, this proposed settlement provides the means to best serve customers in light of historic inflation, the ongoing recovery from the COVID pandemic, supply chain issues, and new state requirements regarding clean energy.
Rate and Bill Impact
The joint proposal represents a three-year agreement between the Companies and signatory parties. The Companies’ last rate settlement kept increases moderate due to what they said was the “extreme adversity people were facing during the pandemic, but these measures led to the build-up of significant financial pressure to the Companies.”
The total percentage bill impacts for electric and natural gas customers are summarized below: