POUGHKEEPSIE – Central Hudson Gas and Electric Corporation reached a settlement on Wednesday with interveners that would reduce its fixed charges by almost 19 percent.
The amended proposal filed with the state Public Service Commission for a three-year rate plan would include a more modest rate increase than first proposed.
The modified plan follows discussions with the Public Utility Law Project, Nobody Leaves Mid-Hudson and Assemblyman Kevin Cahill.
Nobody Leaves Mid-Hudson Executive Director Jonathan Bix maintains it is all about the utility’s bottom line.
“Ultimately Central Hudson and all private utility companies care about is shareholders’ profits,” Bix said “It’s not about meeting people’s needs for electricity and gas and keeping their lights and heat on, and that is why ultimately we think that our energy system should be a publically controlled no-for-profit.”
The joint proposal filed by Central Hudson also includes a smaller overall rate hike than that which was first proposed last August when the utility asked for 11.6 percent for residential electric customers.
Following negotiations among the parties, the rate hike has been reduced to one percent in 2018-2019, 2.8 percent in 2019-2020 and four percent in 2020-2021.
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