Photo: Kameleon007 / E+ / Getty Images
The New York State Public Service Department is standing by its recommendation to allow Central Hudson Gas & Electric Corporation to increase its gas and electric rates for three consecutive years. The proposal, detailed in a filing on Tuesday (July 1), is based on what the department describes as "solid grounds." This recommendation is part of a joint proposal that includes Central Hudson, the department's trial staff, Multiple Intervenors, and Walmart.
If approved, the rate increases would begin on July 1, 2025, and continue through June 30, 2028. For electric services, the first year's increase would be $29.7 million, followed by $31.6 million in the second year, and $34.5 million in the third year. Gas services would see increases of $14.5 million, $15.9 million, and $17.5 million over the same period. The proposal includes measures such as an earnings sharing mechanism and the continuation of the Energy Affordability Program.
Despite the department's defense, the proposal has faced criticism from energy watchdog groups and local leaders who argue that many customers are already struggling with their bills. The final decision rests with the Public Service Commission, which is reviewing the proposal and seeking public comments. The commission is expected to consider the impact on customers and the justification for the increases before making a decision.