New York Commission Slashes Central Hudson’s Rate Increase Request by More Than Half

The New York State Public Service Commission on July 18 finalized gas and electric rate plans for Central Hudson Gas & Electric Corporation for the period commencing July 1, 2024 until June 30, 2025. The commission approved a total increase in electric and gas revenues of $79.3 million, well below the $181 million that the company initially requested.

The decision provides vast benefits to customers and incorporates requirements that enhance the states and commissions goals and objectives.  Central Hudson is obliged to pursue imperative energy efficiency initiatives among additional progressive strategies and policies.

Central Hudson’s original filing sought increases of $139.5 million and $41.5 million, respectively in electric and gas revenues. The commission did not grant the full sum, however permitted a power delivery revenue rise of $58 million, which equates to a 5.5 percent rise in total revenues and a gas delivery revenue rise of $21.2 million, which is the equivalent of a 7.3 percent increase in total revenues.

The commission also applied regulatory assets of $5.3 million to the gas revenue obligation and $13.1 million to the electric revenue requirement.  The gas and electric revenues approved by the commission are significantly lower than sought after by Central Hudson. If Central Hudson’s initial proposal had been accepted, the company’s total revenues would have risen by 14.2 percent for gas and 13.3 percent for power.

Central Hudson is a regulated utility serving about 309,000 electric customers and 84,000 natural gas customers in a service territory of New York State’s Mid-Hudson River Valley.