NYSEG seeking rate increase
New York’s Public Service Commission is considering a price increase request by the New York State Electric and Gas Corporation.
The average customer’s natural gas bill would increase by $10 a month and their electricity bill would increase $8 a month under NYSEG’s request.
The gas and electric utility is seeking to raise $164 million in additional revenue per year.
In a filing with state regulators, NYSEG argues that it needs additional revenue for storm damage repair, to fix leaky gas pipes, and make infrastructure upgrades. The last time the company’s delivery rates increased was in 2012.
NYSEG is a Spanish-owned company with almost 900,000 electric customers and about a quarter-million natural gas customers in upstate New York.