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Public Service Commission close to decision on NYSEG, RG&E rate hikes
|ALBANY — State Public Service Commission members said Wednesday they have concerns that have to be addressed before they vote on a rate hike for two upstate utilities, including whether they are keeping their commitments for annual capital expenditures.|
The commission meets again Sept. 16 and is expected to vote then on the rate increases for New York State Electric & Gas Corp. and Rochester Gas & Electric, whose parent company is Iberdrola USA. The Spanish company merged with Energy East in 2008, forming Iberdrola USA.
"We're being asked to approve a 40-month rate plan for a company that just took over a couple years ago and had some commitments and unfortunately, we're finding not all of the commitments have been met," commission Chairman Garry Brown said.
"I think there's a little nervousness about a 40-month rate plan with a company that's yet to kind of do what they promised in the beginning," he said.
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