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Central Hudson Gas and Electric Corporation has reached a tentative agreement regarding its proposed increase in gas and electric rates. The specific terms of the deal are not yet public, but the New York State Public Service Commission (PSC) is set to hold an evidentiary hearing on May 19 to discuss the rate determination process.
Central Hudson initially filed amendments to its electric and gas tariff schedules on August 1, 2024, seeking to raise electric delivery revenues by approximately $47 million and gas delivery revenues by about $15 million. This proposal translates to a 5.3% increase in electric bills and a 5.9% increase in gas bills for average residential customers, as reported by the New York State Public Service Commission.
The proposed rate hikes are attributed to the need for replacing aging infrastructure, covering labor costs, enhancing cybersecurity measures, and addressing increased customer arrears. Central Hudson also aims to maintain energy affordability for low-income customers and ensure the reliability of its systems, in line with the Climate Leadership and Community Protection Act.
Public statement hearings will be held on Tuesday (April 29) and Wednesday (April 30) in various locations, including Catskill, Kingston, and Poughkeepsie, to gather feedback from the community. Lexington's website encourages public participation in these hearings.
The PSC will consider public input and other evidence before making a final decision on the rate proposal. The public can also submit comments online, ensuring a comprehensive review process before the deadline on July 31, 2025.