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How the latest NYSEG rate increase will affect electric and gas customers

New York State Electric & Gas Corp. electric and gas rates will rise again on May 1.

This is the third phase of a rate plan approved by the Public Service Commission in 2016. The increase will take effect next month, for a combined impact for the average electric and gas customer of $6 a month.

However, the average NYSEG bill for a residential customer using electric and gas has increased to $1,770 from $1,585 in 2016 — a 12 percent over the three phases of the rate increase.

Revenue increases from the latest round of rate increases will be $30.3 million for electric delivery and $14.8 million for gas revenues.

NYSEG’s 894,000 electric customers provided $1.8 billion in revenues last year, according to the company’s regulatory filings. Its 266,000 gas customers produced $534 million in revenues in 2017.

IthacaJournal.com:
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