Get Ready To Pay Even More For Gas, Electric in Hudson Valley, New York
Top energy officials are once again warning your bills for gas and electricity are going to continue to increase.
This week, Central Hudson advised customers rising prices will likely only increase in the near future.
"Central Hudson purchases electricity and natural gas on behalf of full-service customers on the energy market and does not mark up the price of energy supply. The utility hedges energy purchases to dampen market volatility, however, market forces continuously drive changes in energy prices," Central Hudson stated.
Get Ready To Pay More For Gas, Electric in Hudson Valley
Central Hudson warns that regional and global market forces continue to cause electricity and natural gas prices to increase in April.
Higher prices are attributed to a recovering economy, energy supply constraints, strong energy demands and global events, according to Central Hudson.
Central Hudson provided the following photos on electric and natural gas supply prices to try and explain rising costs.
Supply prices stated on bills and overall bill impacts will vary for individual customers depending on their billing cycle and energy usage, officials say.
"Recent natural gas futures on the New York Mercantile Exchange (NYMEX) continue to show elevated prices through next winter. NYMEX futures can be used as a tool to help forecast future gas prices, which also has an impact on electricity prices," Central Hudson stated.
In February, Hudson Valley Post reported Central Hudson warned customers their bills are going to increase.
Central Hudson warned bills for natural gas will increase by about 19 percent, electric bills will increase by 46 percent, and about 29 percent for combination electric and natural gas bills.
Central Hudson said the increase is due to increases in supply prices for both electricity and natural gas as the region navigates a colder than average winter and as global energy factors come into play, prompting an increase in the demand and price for energy.
Supply prices are market-based and not marked up by Central Hudson, officials say.
One Dutchess County resident sent us her bill where she owned over $17,000 for one month.
"These bill increases are temporary and may vary for individual customers depending on energy usage and their billing cycle," Central Hudson said in February.
However, Central Hudson later said "higher costs will be sustained through much of 2022."