ALBANY – The State Public Service Commission Thursday adopted a three-year rate increase plan for electric and natural gas customers of Orange and Rockland Utilities.
PSC Chairman Rory Christian said a negotiated settlement makes it able to “drastically minimize any rate increase for customers.”
Instead of granting the full amount, the commission adopted no increase in revenues for the first year for electric, although the typical residential customker will see a bill increase of 4.6 percent. O&R originally wanted $18.1 million in revenues, and it adopted a first year “levelized gas increase” of “only” $10.5 million, about 30 percent less than the $14.4 million originally requested.
The new rates will take effect in just over a week from now on April 1.
These will be the first proceeding for the company in three years; however, that does not mean there were no rate increases during those years.
Under the new arrangement, typical residential electric customers will experience bill increases of 4.6 percent, 3.3 percent, and 3.5 percent, and typical residential gas heating customers will see bill increases of 10.9 percent, 3.5 percent, and 3.8 percent.
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