NYSEG proposed rate hike slashed by state

Local News

NEW YORK – NYSEG has had its proposed rate hike slashed by 70%.

The New York State Public Service Commission cut the increase that NYSEG had sought over 3 years by 130 million dollars.

Effective December 1st, customers will see a 2% increase in their cost for electric delivery.

The rates will rise 1.95%in the second year and 1.99% in the third.

The P-S-C approved NYSEG’s gas delivery proposal which includes a .3% cut in the first year followed by increases of 1.7 and 2.5 % in the second and third years.

The Commission also announced that NYSEG and its sister company RG&E will create a 30 million dollar fund that will give grants of up to $100 to financially stressed residential and small business customers meant to offset the increases.

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