Heating Bills Will Increase This Month In New York

The start of November means that some residents in New York will see a major increase in their heating bills.

New York State's Public Service Commission voted unanimously last month to approve a proposed 22% rate increase by NYSEG.

WHAT IS THE RATE INCREASE FOR NYSEG ELECTRIC USERS?

Under the approved rate plan, NYSEG residential electric customers who use 600 kwh per month on average would have an increase of around $9.50 on their monthly bills starting in November of this year. Then in May of 2024, customers would see an increase of around $9.00 and then an increase of around $5.00 in 2025 for a total of around $23.50 after three years.

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WHAT IS THE RATE INCREASE FOR NYSEG GAS USERS?

NYSEG Gas users won't have the same increase as electric users. Gas customers will see an increase of around $5.00 in November of this year to their monthly bill. Then in May of 2024, Gas customers will have an increase of around $2.15 and then another $4.10 monthly increase in 2025. Overall gas customers will see a $11.35 increase to their monthly bill by 2025.

WHY ARE NYSEG RATES INCREASING?

The price of electricity and gas is expected to increase as companies that provide the services are expecting increases in their operating budget with millions earmarked for pipe improvement across the state. NYSEG is also expected to hire over 200 people over the next several years to help increase the amount of help at the customer service level.