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Customers in the Hudson Valley Community Power electricity purchasing program will return to Central Hudson in July due to new tariffs announced by President Trump's administration. The tariffs have created market uncertainty, making it unfeasible to extend the current contract, according to Joule Assets, the program's administrator. The affected communities include Poughkeepsie, New Paltz, Rhinebeck, Saugerties, and Red Hook.
Joule CEO Mike Gordon explained that electricity prices rose quickly in response to the tariffs, and although prices have started to decrease, it was too late to meet regulatory notice requirements for residents. The program, which previously offered electricity at competitive rates from renewable sources, will see its participants revert to Central Hudson, the region's main utility provider.
The decision has sparked concern among residents, with over 5,000 people signing a petition calling for regulation of Central Hudson due to high delivery charges and billing issues. Some municipalities, like Kingston, are even considering public acquisition of the utility. Rhinebeck town Supervisor Elizabeth Spinzia expressed disappointment, stating that the tariffs are hindering efforts to provide clean energy options at lower costs.
Despite the setback, Joule Assets remains optimistic about future opportunities. Gordon noted that the volatile political and economic environment might present chances to secure favorable pricing within the next 60 to 90 days, potentially allowing the program to restart in the fall.