National Grid Rate Hike Approved In New York, Bills To Go Up $50

It is not your imagination. Everything continues to get more expensive every month!

Food, insurance, utility bills, and more continue to see regular increases. And if seems no end is in sight.

Read More: Capital Region Residents May Qualify For Utility Bill Relief

Now, an approved rate hike is going to cause National Grid Bills to increase by $25 for the average customer over the next 3 years.

According to a Sprectrum News report, the Public Service Commission has approved a National Grid rate hike that will be rolled out over the next 3 years. For the average electricity customer, this could amount to about a total $25 increase by the rollout of year 3: year 1's increase would amount to about $14.32, followed by increases of $6.44 and $4,34 in years 2 and 3. For those who are also National Grid gas customers, those bills will go up even more with average increases of $7.66, $8.08, and $9.18.

All told, this means 3 years from now, if you get your gas and electricity service through National Grid, your bill could be about $50 higher!

Why The Rate Increase?

The Spectrum report says the increase is earmarked to "... enhance energy affordability programs, enable reliability and resiliency investments, promote economic growth and advance New York state's energy goals."

I understand infrastructure investments - those are a necessary evil to keep up with increasing demand. But a rate increase to help affordability programs? On the surface, raising bills for affordability will not make a lot of sense to the average National Grid customer. Yes, there are important programs in place to help those in need pay their energy bills and keep the heat on - but when rates go up, they go up for everybody, making service less affordable for all.

Hopefully, 3 months from now, there is not too much month at the end of the money!