Central Hudson hikes rates
The price of energy is going up if you live in the Hudson Valley, where the Public Service Commission June 25 granted a rate hike request from Central Hudson for natural gas and electric services.
The move has one legislator saying families could be forced “to shut down.”
Central Hudson will hike the rate it charges for electricity delivery by 8.5 percent and the rate it charges for natural gas delivery by 23.5 percent. For an average customer, the bill beginning July 1 will climb $10.90 per month for natural gas and $3.95 per month for electricity according to the state PSC.
The rate hikes, which take effect July 1, were approved in a unanimous vote by commissioners, who agreed with the recommendations of state Administrative Law Judges David Prestemon and Jeffrey Stockholm that Central Hudson be allowed to raise its revenue projections by $38 million for electricity delivery and $13.6 million for natural gas delivery.
“We are always concerned about the impacts on ratepayers of any rate increase,” commission Chairman Garry Brown said in a prepared statement. “Clearly, it is never a good time to raise rates, and this is especially true at a time when consumers are struggling financially. Nevertheless, there are certain increases in Central Hudson’s costs that have to be accounted for and recognized.”
The $38 million for electric, $13.6 million for gas are more than the company initially sought because after they made their filing Central Hudson “provided update amounts for pensions and post employment benefits,” said Public Service Commission spokesman James Denn.
Central Hudson Gas & Electric Corp., part of the Poughkeepsie-based CH Energy Group, serves about 374,000 customers in a 2,600-square-mile service territory that covering eight counties in the Hudson Valley and Catskills. The Public Service Commission said work done by the utility to cut costs was recognized by members when they considered the rate increases.
“The utility has done a very effective job with what it has to work with,” state Commissioner Robert Curry said. “I think they’re running a tight ship.”
Brown said the rate increases should help Central Hudson maintain its financial rating.
Add Comment
Popular
News by Topic
- Advertising
- Architecture
- Arts
- Aviation
- Banking
- Colleges & Universities
- Construction
- Credit Unions
- Economic Development
- Education
- Golf
- Green
- Health Care
- Hospitality
- Hospitals
- Insurance
- Law
- Leisure
- Marketing
- Nonprofits
- Real Estate
- Restaurants & Food
- Retail
- Sales
- Schools
- Small Business
- Taxes
- Tourism
- Transportation
- Travel
0 Comments