ALBANY – The State Public Service
Commission is going to hold public comment sessions on March 10 in Poughkeepsie
and on March 12 in Kingston on Central Hudson Gas and Electric’s
proposed $55 million, three-year electric and gas rate plan.
The joint proposal was filed on February 6, 2015 by Central Hudson, the
Department of Public Service and four other parties, to resolve all issues
raised concerning the company’s initial July 24, 2014 rate increase
request.
Under the terms of the proposal, Central Hudson would increase its delivery
revenues from electric customers b $20.2 million in the rate year beginning
July 1, 2015, by an additional $20.8 million in the rate year beginning
July 1, 2016, and by an additional $14 million in the rate year beginning
July 1, 2017.
For gas customers, the delivery revenue increases are $2.5 million in
the first year, $5.3 million in the second year and $4.3 million in the
third year.
Bill credits and other adjustments would reduce those increases somewhat.
Central Hudson said the revenue increases reflect a return on equity for
the company of nine percent, with a common equity ratio of 48 percent,
and establish an earnings sharing mechanism that would allocate to customers
50 percent of any earnings about 9.5 percent, 80 percent of earnings above
10.5 percent, and 90 percent of any earnings above 10.5 percent.
The March 10 hearing will be held at Poughkeepsie Town Hall and the March
12 session will be at Kingston City Hall. Both will start at 6 p.m.
