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Central Hudson Gas and Electric Corporation has reached a tentative agreement that could increase utility rates for customers in Kingston, New York, over the next three years. If approved by the Public Utilities Commission (PUC), gas and electric bills will rise, with the exact impact varying based on usage and monthly supply prices.
According to Mid Hudson News, the proposed plan suggests a 3.12 percent increase in the typical electric customer's monthly bill, amounting to $5.43 more in the first year. For natural gas customers, the increase would be 5.19 percent, or $7.73 more monthly. Customers receiving government assistance might see a decrease of about $3.85 in their electric bills, although future changes in the second and third years remain uncertain.
The additional funds from the rate hikes would support infrastructure upgrades, grid protection against cyber-attacks, and help New York meet its clean energy goals. The PUC is expected to make a decision on the proposal this fall, and if approved, the new rates would take effect at the start of the following month.
The Daily Freeman notes that the agreement is part of a multi-year settlement between Central Hudson and regulators. However, an evidentiary hearing on the rate hike request has been postponed as the proposal is still being finalized.