NYSEG rates to increase June 1, with possible rate hikes in the future

Recently, The New York State Department of Public Service Commission (PSC) approved a temporary rate increase for New York State Electric and Gas (NYSEG) and Rochester Gas and Electric (RG&E) customers, while still working on bigger plans for rate hikes in the future. The temporary rate increase goes into effect on June 1. (ES file photo)

CHENANGO COUNTY — Recently, The New York State Department of Public Service Commission (PSC) approved a temporary rate increase for New York State Electric and Gas (NYSEG) and Rochester Gas and Electric (RG&E) customers, while still working on bigger plans for rate hikes in the future.

The temporary rate increase goes into effect on June 1, for residential customers, with increases expected to impact billing as follows:

0.2% for NYSEG electric, 1.7 % for NYSEG gas, 2.9% for RG&E electric, and 1.2% for RG&E gas.

With the rate hikes results scheduled for the beginning of June, the company is still looking for higher increases.

Story Continues Below

NYSEG requested a 35% increase, equaling about 464.4 million, and asked for a return on equity of 10% for the rate year, which would result in a $32 million increase in electric revenue.

“Albany’s unaccountable bureaucrats approved a temporary rate increase while negotiating with an even larger, longer-term rate hike,” said New York Senator Peter Oberacker, R C, 51st Senate District.

"I have spoken with countless families struggling to pay skyrocketing utility bills, including elderly residents forced to shut off their electricity and sleep under blankets in the middle of winter because they cannot afford heat," Oberacker said.

“These rate hikes are a slap in the face to all struggling Upstate New Yorkers who deserve affordable, reliable and abundant energy,” he added.

TO READ THE FULL STORY

The Evening Sun

Continue reading your article with a Premium Evesun Membership

Subscribe



Comments

There are 0 comments for this article

Leave a Reply

Please Login to post a comment.