SYRACUSE, N.Y (NCC News) – National Grid has announced a proposed $673 million rate hike, which, if approved, will significantly impact thousands of households and businesses across New York state. This increase is intended to offset the rising costs caused by inflation and supply-chain issues.
Households could face an average annual utility bill increase of $440, which breaks down to $19 more per month for electricity and $15 more for natural gas. For customers using both services, this totals a $34 per month increase. To ease the financial burden, these costs can be spread over seven years.
“It’s disgusting, it’s bad enough we pay a lot to them now and then having another increase, it’s going to really mess my life up but it’s okay,” said Syracuse resident Jerry Claudio.
Jared Paventi, strategic communications Manager at National Grid, explained the necessity of the rate hike. “Everything costs more… The wires that we hang in neighborhoods, the transformers that hang from the poles in your neighborhood; equipment for our substations and for our gas lines,” he said.
Paventi says that the funds are required to replace aging infrastructure, including century-old electrical systems and over 100 miles of leak-prone gas pipes.
“We want to make proactive investments in the system to keep the system healthy, to keep our customers with the energy they need, that they demand, and that they’re paying for,” he said.
National Grid is seeking to negotiate a multi-year agreement to moderate the rate increases over time. In the meantime, National Grid is encouraging residents to attend public town meetings to voice their concerns and opinions on the proposed hike.
