Last May, The South Shore Press covered National Grid’s request to New York State for approval a 15-20% increase in electric and gas rates. The time for those extra dollars to come from your wallet is here.
The Public Service Commission will vote on this 3-year phased in rate hike soon and is expected to approve the request. National Grid said one of the main reasons for the rate hike is the mandates associated with the clean energy transition and advancing the goals of New York State’s Climate Leadership and Community Protection Act (NY Green New Deal). The state’s climate law, one of the toughest in the U.S., has also been driving up delivery rates.
If approved, customers would be paying 20% more over a three-year period. This adds up to nearly $175 more per customer in the first year totaling $268 by year three. This means the average household will experience an increase of $14.32 a month the first year, just over $6/month in the second year, and more than $4/month in the third year.
The Public Service Commission will vote on this proposal in the coming months. If approved, it means starting sometime this year, you could be paying a higher electric bill so National Grid can update its infrastructure to meet demands of the Green New Deal.
"We know that the last thing our customers want is a rate hike on their electricity, but what's really the driving factor in this is our push to modernize what's really an aging infrastructure," said David Bertola, National Grid Spokesperson. "Is it ideal to see a rate increase? No, but these are things that need to be done, and by stretching them over three years, we're trying to, trying to kind of minimize the impact as much as possible."
Price hikes for New York’s other electricity providers are also expected. PSEG Long Island customers already got hammered with a significant rate hike in 2024, with the Long Island Power Authority (LIPA) board approving an 11.6% increase in the utility's budget. The average monthly electric bill for Long Island residential customers increased approximately $20, from $173 to $193.
You can share your opinion on the rate hike proposal with the Public Service Commission by contacting them at Opinion Line: 1-800-335-2120.