Millions Of New Yorkers Brace For Shocking Energy Bill Jumps

Millions of New Yorkers are about to face rising energy bills. Find out how much you’ll really pay over the next three years.

Your Central Hudson bill is about to get more expensive, and it’s not just once; it’s three years in a row.

Central Hudson Increases Approved

Central Hudson is calling the rate hikes as a "major step" towards improving the "Hudson Valley’s energy future."

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On Thursday, the Public Service Commission signed off on Central Hudson’s request for rate increases over the next three years.

Central Hudson says the increases will help "make essential upgrades" to cover infrastructure upgrades, storm response, clean energy projects, and reinforce cybersecurity protections against evolving threats.

“Rising energy costs are a concern for families and businesses across the country and especially here in the Hudson Valley,” Central Hudson President and CEO Steph Raymond stated. “We’ve spent more than a year working with our regulators and other interested stakeholders to arrive at a financially responsible plan that allows us to make the investments required to power our customers lives, protect their data and their energy system and do it all with minimal impacts to customers’ bills.”

How Much More Will You Pay?

The company says the rate hikes are "designed with customer impact in mind."

"The three-year plan prioritizes efficiency; keeping bill increases modest for most customers while delivering immediate savings for low-income households," Central Hudson stated in a press release.

Customers say it’s just another hit to the wallet.

Electric bills will rise about 3 percent this year, another 3 percent next year, and 3 percent again the year after that.

Gas bills will jump even more. Over 5 percent this year, 7 percent next year, and another 7 percent in year three.

The increases will go into effect on September 1.

Last year, the Public Service Commission approved Central Hudson to increase electric rates by about 8 percent and gas by 9 percent.

National Grid Also Gets Rate Hikes Approved

The Public Service Commission also increased the rates for National Grid customers.

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State

These new rates will go into effect in September and will bump up the average monthly gas and electric bill by about 22 dollars.

The National Grid provides service to over two million customers across Upstate New York.