Central Hudson, our region’s investor-owned electricity and gas utility, has asked New York State to approve a major rate hike. This follows a 4% rate increase that just went into effect on October 1. We can stop this!
The NYS Public Service Commission will hold remote public hearings on October 28 at which local customers—residents, businesses, and organizations—can tell them what another 4.5% increase in delivery charges on electricity bills and another 3.5% increase in delivery on gas bills will mean for them in the middle of the pandemic and resulting economic disaster.
Join your neighbors and community organizations, including Citizens for Local Power, Nobody Leaves Mid-Hudson, Sane Energy Project, RUPCO, and Alliance for a Green Economy, at the online hearing on October 28, and tell the Public Service Commission why you object to the rate hikes.
You can testify at the hearings by telephone or computer line. Your testimony may be limited to three minutes if a lot of people want to testify, so plan your remarks accordingly. You must register in advance before 4:30 pm on Monday, Oct. 26: please see below for instructions on registering.
Why does Central Hudson want to raise our rates? Among other things, the company wants to pay higher dividends to its stockholders. If the requested increases go through, the company will be guaranteed a 9.1% profit, or “return on equity,” up from 8.8%, and a higher equity to debt ratio, which means that the amount on which the 9.1% is calculated will also be bigger.
Is it just and reasonable to pay stockholders more at a time when more than a million New Yorkers were at least 60 days behind on their gas or electric bill on August 20 (and the number is probably higher now)? Central Hudson has no plan yet for how it will respond when the current moratorium on shut-offs expires on March 31, 2021, and people are faced with hundreds, even thousands of dollars, in unpaid bills.
Should we be investing in gas infrastructure in the midst of a climate crisis? Central Hudson wants to invest our money in maintaining and replacing its gas network, even though state law requires that we dramatically reduce gas by 2030 and phase out gas almost entirely by 2050. Gas infrastructure investments will generate great profits for investors, but they will raise our rates and takes us in the wrong direction when it comes to addressing the climate crisis. It’s time to invest more in energy efficiency and renewable energy that can save customers money.
Information about the Central Hudson hearings can be found on the NYS Public Service Commission website here: on.ny.gov/2HlKfTQ. Access to all the documents in the case can be found here: on.ny.gov/2HpBW9i.
If you have questions and would like to contact a member of the team that is organizing the campaign against the bill increases, please email Susan from Citizens for Local Power (susan.h.gillespie@gmail.com), Jonathan from Nobody leaves Mid-Hudson (jonathan@nobodyleavesmidhudson.org), or Jeanne from Sane Energy (jbergman.nyc@gmail.com).
How to register and testify against Central Hudson’s rate increases
To register by computer: go to www.webex.com, click JOIN at the top, right-hand corner, and enter the event number and your contact information.
For the afternoon hearing on Wednesday, October 28, 2020, at 1:00 pm, the Event Number is 173 832 3937; the password is Oct28-1pm
For the evening hearing on Wednesday, October 28, 2020, at 6:00 pm, the Event Number is 173 757 8622, and the password is Oct28-6pm
You can also register by phone. Please call 1-800-342-3330 and follow prompts to the appropriate hearing and provide your contact information: first and last name, address, and phone number.
On the day and time of the hearing you registered for, call 518-549-0500 and enter the access code: 173 832 3937 for the 1 pm hearing, or 173 757 8622 for the 6 pm hearing.
Please remember that you must register by 4:30 pm on Monday, Oct. 26!