The New York Power Authority (NYPA) is set to review a proposed increase to its cost of electric service at its Jan. 25 Board of Trustees meeting. The cost increase to be proposed will be roughly 20%.
According to Paul DeMichele, media relations manager for NYPA, the cost is driven by a projected increase in market energy prices that are passed on to consumers. He also stated that there is a public comment period underway to allow customers to voice any concerns.
NYPA provides electricity to customers including large and small businesses, not-for-profit organizations, community-owned electric systems and rural electric cooperatives and government entities. It has 16 generating facilities and more than 1,400 circuit-miles of transmission lines, and is the largest state power organization in the United States.
The power authority was notifying its municipal customers by early December about the change in costs.
Con Edison, the major electricity, natural gas and steam power provider to 3.5 million customers in Westchester and New York City, also notified customers to expect higher rates this winter due to rising energy costs. It said that the average residential electric bill in Westchester has been projected to rise 15%, from $141.79 last winter to $163.31 this winter.
Additionally, average monthly gas-heating bills have been projected to be up about 24% from last winter, rising from $275 to $341. Con Edison said this is mostly due to supply costs, which are not set by Con Edison and which the company does not make a profit from, but the projected increases reflect changes in delivery charges as well.
Con Ed is due to report its 2021 financials on Feb. 17.
