The New York State Public Service Commission announced yesterday (May 12) that New York’s electric grid and its electric utilities are prepared for increased summer demand for electricity.
However, the price for electricity paid by full-service residential customers on average is expected to be higher than a year ago, depending on demand and weather conditions.
The increase is attributed to a global increase in Natural Gas and increased prices for it.
“New York, like every other state, continues to experience higher than normal commodity prices compared to where prices were several years ago, and that is expected to continue throughout the coming summer,” said Commission Chair Rory M. Christian. “Because of an expected increase in generator fuel costs as well as the changes in capacity prices and obligations, residential and commercial customers may experience higher commodity bills this summer than last.”
