Central Hudson Proposes Additional Rate Hikes
PSC Decision Limits Initial Increase
Just weeks after its last rate hike plan was slashed, Central Hudson Gas & Electric is once again proposing to increase its rates. The New York State Public Service Commission (PSC) recently issued a decision that established new rates for Central Hudson, but the utility is now seeking to raise prices further when that plan expires.
Higher Initial Increase Request
Central Hudson initially proposed a rate plan that would have increased its revenue by $181 million, but the PSC ultimately approved a more modest increase of $114 million. The PSC cited concerns about the utility's financial performance and the impact of the rate hike on customers.
New Rate Hike Request
Central Hudson's new rate hike request would see its revenue increase by an additional $148 million. The utility is proposing a 9.6% increase in gas rates and a 3.9% increase in electric rates. The PSC is expected to review the request and make a decision later this year.
Comments