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Business/Economy

NYSEG requesting 23.7% electric, 1.9% gas rate increases

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New York State Electric & Gas is requesting rate increases for the delivery of electricity and natural gas.

In a letter to the New York State Public Service Commission, NYSEG is proposing a 23.7 percent increase for electric customers, which would mean an average monthly hike of $10.17. Gas customers would see a 1.9 percent increase, or about $1.05 more per month.

The utility - part of AVANGRID and its Spanish multinational parent company Iberdrola - said its request achieves an essential balance between the need for investments in electric and gas infrastructure with the important objecting of maintaining customer rates “that are affordable and among the lowest in New York."

A spokesman for the PSC, James Denn, said the commission’s number one priority is ensuring that all New Yorkers have access to safe, affordable, reliable and clean energy services.  He said the PSC's 11-month public review process will closely review the proposal and provide ample opportunity for public comment.

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