ALBANY – A report from the New York State Public Service Commission indicates there is adequate electric generation capacity and that that transmission and distribution utility owners are prepared to meet expected customer demands this summer. The report also said wholesale electricity prices are expected to be lower or stable this summer.
“The summer outlook in terms of adequate supply and potentially lower electricity prices is very good news for residential and business customers,” said Commission Chairwoman Audrey Zibelman. “There are many factors that are helping drive prices down, including commission-ordered programs to lower demand, require utilities to use policies to mitigate volatility in prices, all of which are helping to ensure price stability for consumers.”
The PSC noted that in addition to having adequate electricity supplies, electric and gas utilities have taken steps to strengthen the infrastructure prior to the start of the summer hurricane season, which begins June 1.
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