Governor Kathy Hochul announced a new initiative by the New York State Public Service Commission to offer a $200 million energy bill credit, aimed at providing financial relief to over 8 million electric and gas customers. This one-time credit is part of a broader effort to help New Yorkers manage their energy expenses, with the funds being distributed directly by electric and gas utilities on behalf of their customers.
The credit, sourced from state-appropriated funds included in the Fiscal Year 2024 State Budget, is expected to be applied to customer accounts within approximately 45 days after the utilities receive the budget funds. This move is in addition to over $1.4 billion that has been or will be available to New Yorkers to assist with energy costs in 2024, highlighting the state’s commitment to energy affordability.
Governor Hochul emphasized the importance of affordable and clean energy for all New Yorkers, citing the utility bill credit as a key element of the state’s clean energy agenda. The initiative also builds upon existing programs like the Energy Assistance Program and the Home Energy Assistance Program (HEAP), further supporting vulnerable New York residents in reducing their energy costs.
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