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The Looming Shadow: Utility Rate Increases in New York

As the cold winds start to sweep across New York, a chill of uncertainty looms in the hearts of its residents, not just due to the winter frost, but due to the unsettling fluctuations in utility rates. A recent upheaval has been noticed in the utility landscapes with Central Hudson and NYSEG announcing significant rate increases. Central Hudson is seeking approval for a staggering 16% increase in electric bills and a 19% increase in gas bills, slated to take effect in July 2024 (1).

NYSEG and Central Hudson Planning Rate Increases

Adding to the uncertainty, the New York Public Service Commission (PSC) has approved a three-year utility rate increase for NYSEG. Customers are bracing themselves for double-digit rate hikes, with the average residential customer expected to see an increase of around $10 per month in the first year, starting in November (2). Just last week, the PSC unanimously approved a 62% increase in NYSEG’s delivery rates for electricity, and a 17.8% increase for its gas delivery (4).

In a contrasting scenario, National Grid has released statements forecasting lower prices this winter, predicting that Upstate households will pay 18% less this winter than a year ago for natural gas heating (3). This prediction seems to defy the current inflationary trends and the rate increases announced by other utility companies, casting a shadow of doubt and uncertainty over the future of utility rates in New York. 

From a logical standpoint, if the two other major utility companies in upstate NY, NYSEG and Central Hudson, are significantly raising their rates, why would National Grid be decreasing theirs? It does not seem to make sense, given today’s economic climate. There has to be a catch somewhere. If three companies are servicing the same areas, and only one of them is lowering their rates, something is not adding up. Time will only tell, and winter is right around the corner.

Protect Yourself from Utility Rate Increases

Celebrating 75 years of industry experience in 2023, Kasselman Solar stands as a pillar of reliability and quality in the solar industry. As a NYSERDA Quality Solar Installer with Gold Status and an average rating of 4.7 on Google and 5.0 on EnergySage, Kasselman Solar embodies excellence and customer satisfaction. The company’s remarkable achievement of being named a 2023 Top Solar Contractor by Solar Power World, and the only residential installer in the Capital Region to do so, further solidifies its position as a leader in providing sustainable and reliable solar energy solutions.

The looming sense of fear and uncertainty about what the future holds for utility rates makes it imperative for consumers to consider alternative energy sources, such as solar power, to hedge against these unpredictable fluctuations and secure a stable and sustainable energy future. By embracing the exceptional services of Kasselman Solar, residents can not only secure themselves against the whims of fluctuating utility rates but also contribute towards a greener and more sustainable environment, while enjoying the impeccable quality and service that has become synonymous with the Kasselman Solar name.