New York State Electric & Gas (NYSEG) and Rochester Gas and Electric (RG&E), subsidiaries of Avangrid, Inc., have received approval from the New York Public Service Commission (PSC) for their Reliable Energy New York plan, which will enable the utilities to make critical investments in reliability, resiliency, and customer service and help achieve New York’s Climate Leadership and Community Protection (CLCPA) goals.
The PSC ruling sets electric and gas rates through 2025, and comes after more than a year of extensive engagement and negotiation with the New York State Department of Public Service and a variety of external stakeholders. It was supported fully or in part by eight intervenors including the staff of the New York State Department of Public Service, IBEW Local Union 10, and the New York Power Authority.
“This plan is an investment in the future reliability and resiliency of the New York grid,” said Pedro Azagra, Avangrid CEO. “Each year, the impacts of climate change increase and we need to make investments to not only mitigate these risks for our customers, but also enable more renewable energy like wind and solar. The Reliable Energy New York plan addresses these needs while also creating local jobs and increasing customer service programs.”
The investments are consistent with New York State’s Climate Leadership and Community Protection Act with plans to expand the capacity of the transmission system. It also includes more than $1 billion of investments to focus on serving customers, with increased bill assistance and expanded protections during extreme temperature events. Overall, the approval will support 231 new jobs at the companies as well as 716 indirect jobs in New York state, according to Avangrid.
The average residential customer’s monthly bill will increase by approximately $10 to achieve these improvements. Customers can expect to see this increase beginning November 1, 2023. Several New York economic development organizations and unions reacted to today’s decision by the PSC.
