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The New York State Public Service Commission approved a three-year rate increase for Central Hudson Gas and Electric Corporation during a meeting in Albany on Thursday (August 14). The decision allows for a moderate increase in both electric and gas rates, less than initially requested by the utility company.
The average residential electric bill will rise by 3.47 percent in the first and second years, and by 3.23 percent in the third year. Gas rates will see increases of 5.3 percent, 7.19 percent, and 7.27 percent over the three years. The rate adjustments are part of a joint proposal signed by Central Hudson, the Department of Public Service staff, and other stakeholders, though some groups like the Public Utilities Law Project did not oppose but also did not sign the agreement.
According to Mid Hudson News, the proposal aims to balance the need for safe, reliable service with customer affordability. Central Hudson President and CEO Steph Raymond emphasized the importance of the plan in addressing rising energy costs while investing in infrastructure and customer data protection.
The original request from Central Hudson was for higher increases, which were reduced by the Commission to prioritize affordability. The Department of Public Service scrutinized the proposal to ensure it met legal requirements and supported state climate goals. The plan includes enhanced consumer protections and increased participation in the Energy Affordability Program, offering bill discounts to eligible households.
The new rates took effect on July 1, 2025, and will continue through June 30, 2028. The Commission's decision reflects a commitment to maintaining a balance between necessary capital investments and limiting costs to ratepayers.