New York PSC approves investment, rate plan for two Avangrid subsidiaries
The New York Public Service Commission (PSC) approved plans by New York State Electric & Gas (NYSEG) and Rochester Gas and Electric (RG&E) to make investments in reliability, resiliency, and customer service via their Reliable Energy New York plans.
The ruling also sets electric and gas rates through 2025 for the utilities, which are both subsidiaries of Avangrid.
“This plan is an investment in the future reliability and resiliency of the New York grid,” Pedro Azagra, Avangrid CEO said. “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 approvals are for more than $1 billion of investments to focus on serving customers, with increased bill assistance and expanded protections during extreme temperature events. Overall, the investments will support 231 new jobs at the companies as well as 716 indirect jobs in New York state.
To achieve these improvements, the average residential customer’s monthly bill will increase by approximately $10 to achieve these improvements. Customers can expect to see this increase starting Nov. 1.
“Our mission is to serve our customers safely and reliably,” NYSEG and RG&E President and CEO Trish Nilsen said. “The Reliable Energy New York plan will allow us to make critical investments in our gas and electric infrastructure to improve reliability, expand our energy efficiency offerings, execute on important pilots to test new technologies to support our green energy future, and provide additional assistance to those who need it.”
The approval by the PSC got the backing of several New York economic development organizations and unions, including IBEW, New York State Economic Development Council, and the Business Council of New York State.
“IBEW Local 10 and 36 thank the Public Commission for approving NYSEG and RG&E’s ‘Reliable Energy New York plan.’ These investments are critical to upgrading our aging infrastructure and will allow the men and women of IBEW at NYSEG and RG&E to continue to provide safe and reliable service for customers while securing hundreds of jobs,” Dan Addy IBEW Local 10, business manager/financial secretary and Jeffrey Sondervan, IBEW Local 36, president/business manager/financial secretary, said.
