According to the PSC, a three year plan was approved, beginning on July 1, 2010. Average residential electric bills are projected to increase by approximately $4.42 per month in the first year, $3.65 per month in the second and $2.68 per month in the third.
Average residential natural gas bills are projected to increase by $5.86 per month in the first year, $2.73 per month in the second and $2.02 per month in the third.
The commission noted that in the first year of the rate plan, a substantial portion of the electric and natural gas increases are attributable to higher local property taxes and infrastructure improvements. The PSC also indicated that the new rates will fund improvements in utility programs to assist low income customers and strengthen economic development programs.
In a separate ruling, the commission also approved new energy efficiency programs, including financial incentives to residential and business customers.
