NYSEG Requesting Major Rate Hike For Customers In New York
Your electric and gas bill could make a pretty big jump if a proposed rate increase by NYSEG is approved.
New York Electric & Gas (NYSEG) announced that this past Wednesday they submitted a proposal to increase rates for electricity and natural gas over a three-year period.
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HOW MUCH IS THE NYSEG RATE INCREASE?
In their proposal, NYSEG is asking for a 22% increase in the current rates for electricity over a three-year time frame and a 6% increase for natural gas over that same time frame,
WHAT WOULD THE NYSEG RATE INCREASE LOOK LIKE?
If the current proposal is passed, the increase in electricity would happen like this. 6.6% in year one, 7.3% in year two, and 8.2% in year three for a total of a 22.1% increase.
Natural Gas prices would increase 2% each year over the three-year period for a total of a 6% increase.
HOW WOULD MY BILL INCREASE IF THE RATE INCREASE IS PASSED?
On average, an NYSEG electric customer would pay around an extra $9 per month in the first year, $8 per month in the second year, and around $11 per month in the third year.
Natural gas customers would end up paying around $4 extra per month every year.
The new proposed increases now have to be put for debate in scheduled public forums before the Public Service Commission can accept or reject the proposal.
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