Western New Yorkers will soon see price hikes for National Grid’s electric delivery rates over the next three years. That’s according to a joint move from National Grid and its partners that was unanimously approved Thursday by the State Department of Public Service.
In the hike, electric delivery rates for upstate New York consumers using an average of 625 kilowatts-hours of electricity a month can expect to see an increase of $14.32 each month in the first year, $6.44 in the second year, and $4.34 in year three. National Grid’s initial proposal in May 2024 would have raised electric delivery rates by 15% for residential electric customers, which was quickly criticized by New York Governor Kathy Hochul.
After the vote on Thursday, Governor Hochul released a statement disapproving of the revised plan:
“While I appreciate that the New York Public Service Commission worked to significantly lower the outrageously high initial rate proposals, it’s still not enough,” Hochul said. “I have been crystal clear that utilities must make ratepayer affordability the priority. Since taking office, my administration has prioritized energy affordability, particularly for our most vulnerable, and we need the utilities to take it seriously as well. That means at a time when worried New Yorkers are being forced to tighten their budgets, all utilities must follow suit. This is no time for bonuses and big raises for executives, especially if they are going to be looking to raise rates on their customers.”
National Grid said its three-year electricity and natural gas delivery rate plan would enhance affordability programs and advance the state’s renewable energy and emissions reduction goals. The utility company plans on using the revenue made from the price hikes to invest $4.3 billion in capital investments. Projects under that umbrella would include upgrading aging transmission lines and improving the system’s ability to handle severe weather.
State Republicans oppose the plan, saying the increase makes basic necessities unaffordable to many upstate residents. State Senator Rob Ortt slammed the price hikes, claiming that they’re a result of restrictive energy mandates as the state looks to reduce emissions. Ortt said in a statement that “rising energy costs are not happening in a vacuum,” and blamed Democratic policy initiatives around energy goals.
National Grid, previously known as Niagara Mohawk Power Corporation, provides utility service to 2.3 million customers in upstate New York.
