NYSEG backs off revenue hikes by 40%

New York State Electric & Gas Corp. has agreed to lower its requested increase in revenues by 40 percent, said David L. Prestemon, an administrative law judge for the state Public Service Commission, which has the final say on the utility company's rate increase request.

Originally, NYSEG asked to increase revenue by about $169.7 million for electricity delivery service and by $63.4 million for natural gas delivery service to its 1.7 million customers. The increases represented a 32.2 percent in revenue for electricity delivery and a 39.5 percent increase in revenue for gas delivery. Under the proposed rate increase, the typical NYSEG customer would pay a total $37.73 more each month.

The PSC can adopt, reject or amend any part of the requested changes. The increases, if approved, would become effective Sept. 25.

(Click to read the entire article)

0 comments:


Blogger Template by Blogcrowds


Copyright 2006| Blogger Templates by GeckoandFly modified and converted to Blogger Beta by Blogcrowds.
No part of the content or the blog may be reproduced without prior written permission.