BUFFALO, N.Y. (WKBW) — Hundreds of thousands of National Grid customers in New York State will soon start paying more for electricity, even though rates in New York State are already among the highest in the country.
The Public Service Commission unanimously approved National Grid’s proposed 20 percent rate hike that’s phased in over three years.
Beginning next month, the average customer will see a $14.32 monthly increase. In year two, that increases another $6.44, and in the third and final year, the average monthly bill will go up another $4.34.
National Grid bills are going up next month; Here's how much you can expect to pay
National Grid has said the additional revenue is needed to maintain service that is “safe and reliable”, among other priorities.
The PSC says the adopted joint proposal delivers $110 million in annual efficiency savings, defers non-essential capital projects, and supports energy affordability programs and protections for vulnerable customers.
The joint proposal that was approved was also negotiated by business groups, labor unions, state agencies, and other stakeholders.
Groups, including AARP New York, opposed the increase and called on Governor Kathy Hochul, who appointed 4 of the 7 members, to live up to her “affordability” pledge and work to block the increase. The PSC is an independent body.
Governor Hochul's office released the following statement on Thursday afternoon:
“While I appreciate that the New York Public Service Commission worked to significantly lower the outrageously high initial rate proposals, it’s still not enough. I have been crystal clear that utilities must make ratepayer affordability the guidepost. Since taking office, my administration has prioritized energy affordability, particularly for our most vulnerable, and we need the power companies to take it seriously as well. That means at a time when worried New Yorkers are being forced to tighten their budgets, utilities must follow suit. This is no time for bonuses and big raises for executives, especially if they are going to be looking to raise rates on their customers.”
