IN CASE YOU MISSED IT: New York’s Public Service Commission approves latest three-year rate plan increase
ALBANY, NY- The New York Public Service Commission unanimously approved a three-year rate plan for National Grid’s Upstate New York electric and natural gas customers.
In all, it equals a 20-percent rate increase over that time frame. For context, this rate increase applies only to National Grid customers who have electric and natural gas.
According to National Grid, residential electricity customers using an average of 625 kilowatt-hours per month would see an estimated total monthly bill increase of $14.32 in the first year, $6.44 in the second year and $4.34 in year three.
Meanwhile, residential natural gas customers using an average of 78 therms per month would see an estimated total monthly bill increase of $7.66 in the first year, $8.08 in the second year and $9.18 in year three.
State Senator Joe Griffo has spoken out against this latest rate increase. “While I recognize that there are considerable costs involved with delivering safe and reliable energy service, this increase will further burden New Yorkers who are already struggling financially,” the Senator said (read full statement below).
“I am disappointed that the Public Service Commission (PSC) voted today to approve a rate increase for National Grid gas and electric customers.
While I recognize that there are considerable costs involved with delivering safe and reliable energy service, this increase will further burden New Yorkers who are already struggling financially. It is also interesting that the governor has the gall to criticize the PSC for approving the increase but yet is responsible for either the appointment or reappointment of most of the commission’s members - including selecting its chair. New Yorkers need significant relief, real action and policies that make life more affordable. They do not need hollow words from an executive trying to shift the blame from her problematic policies that have resulted in rising energy costs and made the state unaffordable.”
According to National Grid, highlights of the new plan include:
- Critical investments to ensure the reliability and safe operation of the company’s energy delivery system, including capital investments of $1.4 billion in the electricity delivery system and $351 million in the natural gas system in the first year.
- Enhanced system resiliency and reliability measures to manage and reduce the impact of frequent severe weather and enable continued strong storm response.
- More than $290 million in bill discounts for income eligible Upstate New Yorkers, including approximately $72 million in the first year.
- An $3 million shareholder-funded health and safety weatherization program that will assist low-to-moderate and disadvantaged community households.
- Additional energy affordability programs and services, including cold-weather protections, enhanced outreach and education efforts in disadvantaged communities, a dedicated liaison who will provide enhanced service to indigenous communities in the company’s service area, and more in-person customer assistance events.
- Integrated energy planning to consider interactions among gas, electric and customer energy systems to achieve long-term climate goals in a safe and affordable way.
- Infrastructure investments to support economic development, connect clean energy, and enhance security.
- Targeted programs and dedicated teams to better serve residential, commercial and industrial customers.
- Adding more than 480 jobs to support electric and gas operations, grid modernization and customer programs. These will include local employees who live and work in the communities we serve and support the regional economy.
National Grid images.
