New York’s Public Service Commission (PSC) approved utility rate increases for National Grid and Central Hudson. While the two utilities requested a larger rate increase over one year, the PSC instead approved smaller increases over spread out over three years. The rate increases will begin in September for both electricity and natural gas usage.

New York State has seen drastic utility rate increases over the last several years, in large part due to the state’s climate law (the Climate Leadership and Community Protection Act) which requires greenhouse gas emissions reductions and economy-wide electrification mandates. The climate law’s electrification mandates depend on significant investments in new energy infrastructure.

NFIB continues to raise concerns about the increase in utility rates in New York State, especially on small businesses. The continued approval of double-digit percentage rate hikes is unsustainable for businesses, consumers, and the state’s overall economy.

For more information on the utility rate increases, visit the Public Service Commission’s website.