ALBANY – The State Public Service Commission, Thursday, approved a three-year electric and gas rate plan for Orange and Rockland Utilities’ customers that the state agency said is “significantly lower than what the company initially requested.”
But, to Senator James Skoufis (D, Cornwall), chairman of the investigations committee, any rate hike is a “disgrace.”
O&R had sought an increase in electric revenues of $24.5 million, or a 5.8 percent increase in base delivery and a 3.3 percent increase in total system revenues; and an increase in gas revenues of $9.8 million, or a 6.9 percent increase in base delivery and a four percent increase in total system revenues.
The plan approved establishes a three-year rate plan for electric and gas service for the period January 1, 2022 through December 31, 2024, that allows revenues to increase by two percent for electric and 1.92 percent for gas in the first year, and by less than two percent for electric and gas in the second and third year.
The commission eliminated wage increases to senior management for a two-year period, from October 1, 2020 through December 31, 2022, resulting in a savings of some $510,000. But, at the end of this year, their salaries will increase.
“At a time when Hudson Valley families are struggling to keep the lights on, our utility companies continue to line their pockets with complete disregard for what their own ratepayers can bear,” said Skoufis. “As the Senate utilities investigation ramps up, O&R and the Public Service Commission will be hearing from me and my committee.”
Skoufis said since the company expects to “rake in an additional $34.5 million over the next few years, on the backs of their customers, I assume they can spare a few bucks for the drive to Albany to answer for their greed.”
Senator Elijah Reichlin-Melnick (D, Nyack) said raising the rates “would impose a double dose of misery upon my constituents who are already struggling to keep up with their household expenses.”
