Electricity costs for customers of New York State Electric & Gas Corp. could rise by up to 23.7% in the near future.
The increase is due to the company’s vegetation management program. According to NYSEG and RG&E President Carl Taylor, the company is investing heavily in its power infrastructure and vegetation management to increase the reliability of the system, especially in heavy storms. Both utilities will keep prices stable until May 2020 after an 11-month review by the PSC.
If the tariff request is approved as requested by the power company, NYSEG and RG&E will increase revenues by $200 million.
“NYSEG has 900,000 electric customers and 260,000 natural gas clients over a patchwork area of New York covering 20,000 square miles, about 40% of the upstate New York region. RG&E has 375,000 electric connections and 308,000 natural gas customers in a service territory covering 2,700 square miles in a nine-county region centered around Rochester,” says poughkeepsie journal article.