New York State Electric & Gas Corp. is seeking a rate hike.
The utility is proposing an increase that would raise average residential electric bills by $8 a month and average residential natural gas bills by $10 a month. Increases could be higher or lower based on usage and service classification.
If approved, the increase would raise around $164 million. The money would be used to enhance maintenance of the company’s 35,000-mile electric distribution system and strengthen overall security and automation of the network.
The utility suffered $260 million in damage and recovery costs during Tropical Storm Lee in 2011 and Hurricane Sandy in 2012.
Regulators are expected to review the proposal over the next year.
NYSEG serves 883,000 electric customers and 264,000 natural gas customers in upstate New York.
(AP)
