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The New York Public Service Commission (PSC) is set to vote today (August 14) in Albany on a rate proposal from Central Hudson Gas and Electric Corporation. The proposal suggests increasing gas bills by 3.7% and electric bills by 7.3% over the next few years. Central Hudson aims to use the additional revenue to enhance its systems and improve customer service.
The utility company reportedly plans to increase electric delivery revenues by approximately $47 million and gas delivery revenues by about $15 million. The company cites the need to replace aging infrastructure, address cybersecurity threats, and manage increased customer arrears as reasons for the proposed hikes.
The proposal comes amid rising energy costs across New York State, with summer heat driving up electricity demand and supply prices. Public hearings have been held to gather input on the rate proposal, and the PSC will consider public comments and evidence before making its decision. The outcome of the vote could significantly impact Central Hudson's customers in the Hudson Valley.
Anyone interested in watching the PSC meeting can do so online. The commission is required by New York State law to consider utility rate proposals and may adopt, reject, or modify them. The Daily Freeman notes that the PSC's preliminary agenda includes a vote on a joint proposal related to the rate hikes.