New York State Electric & Gas and Rochester Gas and Electric have filed a proposed rate case settlement.
The total price changes are as follows:
The original proposal requested a 22% increase in customer bills.
The settlement includes $2.1 billion in infrastructure investments and another $2 billion going towards serving the customers and supporting state climate goals.
NYSEG and RG&E president and CEO Patricia Nilsen says these investments will help the company improve its aging grid and support business development in New York, including more electric vehicles and less natural gas.
“Our mission is to serve our customers; raising rates is an unavoidable step we must take to continue to meet customers’ current and future energy needs. The cost of doing business has increased, as has the investment necessary to realize the clean energy future our stakeholders expect,” Nilsen said in a statement. “Our customers want improvements to our aging grid for better reliability and to meet their household energy needs, as well as to support business development in New York, including more electric vehicles on the road and decreases in natural gas usage. These investments will help us realize those goals.”
More information can be found here.
