New York Electric Bills Expected to Spike by 12% this Summer
By Yehudit Garmaise
New Yorkers getting ready to beat the heat this summer with air conditioning are likely to see electric bills that are 12% higher than last summer, Public Service Commission (PSC) representatives warned Thursday, after a commissioner’s board meeting.
PSC attributed the increase in electric supply prices to the rise in natural gas prices globally as a result of “international uncertainty,” which likely refers to Russian President Vladimir Putin’s unceasing assault on Ukraine.
The PSC also blamed the electricity’s rising prices, which come as part of the rise in prices of all consumer goods, on the more robust post-pandemic economy, the New York Post reported.
“New York, like every other state, continues to experience higher than normal commodity prices compared to where prices were several years ago, and that is expected to continue throughout the coming summer,” PSC Chairman Rory Christian said.
While last summer, the average monthly electric bill for a typical NY residential customer from June through September was $104.05, typical bills this summer for the same amount of air conditioning could be $116.59, the Post reported.
Although electric prices are rising, PSC officials emphasized that they have enough power to prevent brownouts and blackouts during the summer’s high demands.