PSEG planning for rate increases

Posted

PSEG Long Island submitted a three-year rate plan last week that requests increases of 2 percent of aggregate revenues (customers’ bills) a year for the next three years. This will result in an average monthly bill increase of approximately $3.25 in 2016 and $3.30 in both 2017 and 2018.

The plan is under review by the New York State Department of Public Service, and approval for it is required by the board of the Long Island Power Authority

The AARP was among the first organizations to voice opposition to the PSEG announcement. According to a recent survey conducted by the non-profit, 74 percent of Long Island’s 50+ voters say they are already concerned about their ability to pay utility bills (with 46 percent extremely/very worried), and 83 percent say the cost of heating their homes caused financial strain last winter.

“This move is a bad one for consumers and it’ll take a harsh toll on the 50+,” warned Will Stoner, Associate State Director for AARP on Long Island. “We’re calling for close scrutiny of this rate hike proposal and for a stronger consumer voice to be included through the creation of an independent utility consumer advocate office.”

According to a 2012 study done by the U.S. Energy Information Administration, New York State residents pay an average price of 17.62 cents per kilowatt hour — than any other state in the nation.

The utility said the proposed plan will include investments to:

  • Maintain reliable electric service by modernizing and maintaining the grid (Long Island and the Rockaways’ system of power lines and equipment). This work includes targeted replacement of transmission and distribution infrastructure, adding new technology to streamline work management processes, and incorporating more renewable energy and demand-side resources onto the grid.
  • Provide best-in-class customer service through enhanced web-based portal that helps customers manage accounts on-line, and build on their new Call Center Technology platform to better serve our customers.

Page 1 / 2