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Walmart, the largest retailer in the United States, has announced its support for Central Hudson Gas and Electric Corporation's proposed rate hikes. Central Hudson plans to increase gas and electric rates for customers over the next three years. Walmart, which operates two stores in Ulster County, believes that the proposed rate hikes are in the best interests of both the company and the public.
According to a filing with the Public Service Commission on Friday (May 23), Walmart officially backed the tentative agreement. However, any rate increase will require approval from state regulators before it can be implemented. The decision from the regulators is expected to occur within the next few weeks.
The proposed rate hikes have sparked discussions among stakeholders, with Walmart's support highlighting the potential benefits seen by major corporations. The outcome of the state regulators' vote will determine whether Central Hudson can proceed with its plan to adjust rates.