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$672M approved to help residents, businesses pay utility bills and avoid service shut-off

The New York State Public Service Commission approved $672 million in funding to help over 500,000 residential customers and small businesses avoid having their gas and electricity shut off this winter.

The funding is the largest debt-forgiveness program in the state’s history and covers bills in arrears through May 2022.


Residential customers will receive a one-time credit capped at $2,750, while all commercial customers will receive a one-time credit capped at $4,750 for arrears over 60 days.

The program will be funded by ratepayers through a .5% surcharge added to their bills over the next few years.

All major utilities in the state are covered, including Con Edison, National Grid, and Orange & Rockland.

The cost of the program is expected to be less than the cost of doing nothing, as bad debt would become a cost built into rates. Utility shareholders have contributed $101 million in customer benefits during this phase.



Categories: New York StateNews