July 14, 2024

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Rate hikes were approved on the NYSE and RG&E.  Here’s what it means for customers

Rate hikes were approved on the NYSE and RG&E. Here’s what it means for customers

Both NYSEG and RG&E customers will see double-digit rate increases on their utility bills starting next month.

The changes for electric and gas utilities were awaiting approval from the state Public Service Commission, which… The increase was voted unanimously on Thursday.

“I view this as an unusually high rate increase,” Commissioner John Maggiore said during Thursday’s hearing. “Of the two options available to this committee today — a yes or no vote — a yes vote would likely result in a less adverse outcome for taxpayers.”

If the proposal had been rejected, customers may have seen higher prices.

How much will electricity and utility prices rise in New York?

Price increases proposed and now accepted by NYSEG We are 22.1% for electrical use And 6.1% for gas Over three years. RG&E customers will see rate increases of 16% for electricity And 10.9% for gas Over three years.

Here’s how this breaks down:

NYSEG Electric: Monthly bill rises for 2023

Under the new rate plan, NYSEG residential electricity customers who use 600 kilowatt-hours per month will see an average total monthly bill Increase of $9.94 or 10.3% In November of this year.

Starting in May 2024, customers will see… $8.88 or 8.4% increase In May 2025, A $11.34 or 9.9% increase.

NYSEG Gas: Monthly bill rises 2023

NYSEG residential gas heating customers who use an average of 100 BTUs per month will see an average total monthly bill Increase of $4.96 or 3.6% In November of this year.

In the second year, customers will see a $2.13 or 1.5% increase In the third year, A $4.10 or 2.9% increase.

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RG&E Electric: Monthly bill hikes 2023

RG&E residential electricity customers who use 600 kWh per month will receive an average total monthly bill Increase of $6.47 or 7.4% In November of this year.

Starting in May 2024, customers will see a $5.98 or 5.5% increase In May 2025, A $6.90 or 6% increase.

RG&E Gas: 2023 monthly bill hike

RG&E residential gas heating customers who use an average of 100 btu per month will see an average total monthly bill Increase of $5.29 or 4.6% In November of this year.

In the second year, customers will see a $5.44 or 4.5% increase In the third year, A $5.41 or 4.3% increase.

what do you know: Double-digit gas and electricity price hikes could be on the way

Why are utility bills in New York so high?

Over the next three years, Avangrid-owned companies plan to spend $2.1 billion to replace aging poles, wires and substations, trim trees that can lead to power outages, and upgrade systems to detect power outages and restore power after major storms, which occur frequently. .

The companies will invest another $900 million Transportation projects And other upgrades to help the country achieve its goals of creating a carbon-free electric grid. The state wants to send renewable solar and wind power generated upstate to New York City, which relies almost entirely on fossil fuels for electricity.

Another $1 billion in NYSEG and RG&E funding will go toward “improving customer service” at both utilities, including plans to hire 231 full-time employees.

How taxpayer advocates respond

NYSEG has more than 1 million electric and gas customers across 40 counties in the state and RG&E has a total of 710,000 customers centered in Rochester.

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AARP taxpayer advocates say more than 127,000 NYSEG customers and more than 78,000 RG&E customers are 60 days behind on their energy bills, as of August of this year, which amounts to more than $145 million owed to the utilities combined.

“These rate increases are unsustainable and outrageous under any circumstances, but especially given the widespread ongoing billing problems, recent safety failures, poor customer service record, and inadequate price recording that does not support the Climate Act.” The state does not provide a justification for the cost, Fossil Free Tompkins Coordinator Erin Weiser said in a written statement Thursday.

“These interest rate increases will put more people into debt, make housing less affordable and put pressure on small businesses still recovering from COVID… This is a sad day for upstate New Yorkers.”

“The Reliable Energy New York plan will allow us to make important investments in our gas and electric infrastructure to improve reliability, expand our energy efficiency offerings, and implement important pilot programs to test new technologies to support our green energy future,” NYSEG and RG&E President and CEO Trish Nielsen issued a statement. Providing additional assistance to those who need it.

New York State staff reporter Thomas C. Zambito contributed to this report.

Emily Barnes is a consumer advocacy reporter on the New York State team for the USA TODAY Network. Call Barnes at [email protected] Or on Twitter @byemilybarnes.

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