HUDSON VALLEY- The New York State Public Service Commission announced that New York’s electric grid and its electric utilities are prepared for increased summer demand for electricity. Additionally, the price for electricity paid by full-service residential customers on average is expected to be lower than a year ago, depending on the customer’s location, demand and actual market prices.
The statewide average supply costs for full service residential customers this summer (June- September) is expected to be $214.81, down 3 percent from $221.77 a year ago. Total actual summer supply costs will vary depending on region of the State and individual usage.
In the summer of 2013, New York State set a record peak demand of 33,955 MW. Peak demand this summer is forecast to be of 32,048 MWs, slightly higher than last year’s actual peak of 30,505 MWs. Installed generating capacity for 2023 totals 36,990 MW. Combining the installed generation capacity with other resources provides New York with a total of 41,148 MW worth of capacity resources for 2023, well above what is the expected need.
“Most of New York is expected to experience lower energy prices this year than last year, and that is good news for residential and business customers,” said Commission Chair Rory M. Christian. “We will use this reprieve from high energy prices to continue making investments in developing a clean-energy grid that will help us all combat climate change.”
