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NYSEG Seeking Approval For Rate Hikes

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NYSEG customers could soon see an increase in their monthly bill, as the utility company is seeking approval for a rate hike.

NYSEG announced Wednesday it submitted a filing with the New York State Public Service Commission to fund storm restoration costs.

NYSEG proposes a five-year schedule to recover more than $260 million lost to Hurricanes Sandy and Irene, and Tropical Storm Lee.

If approved the average NYSEG electricity customer using 600 kilowatt hours per month and taking supply from the utility would see their bill go up about $8 per month from $80.56 to $88.60, that’s a 10 percent increase.

For the average NYSEG natural gas customer using approximately 980 therms over the course of a year, costs will rise an average of $10 per month, for an 11 percent increase or about $120 for the year.

The plan also includes funding for projects to strengthen NYSEG’s transmission and distribution systems.

The Public Service commission has 11-months to decide.

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