New York State officials have released winter energy cost projections, anticipating a slight decrease in electricity bills but an increase in gas bills for the upcoming colder months.
The Public Service Commission announced Wednesday that the lower electricity costs reflect the milder winter of 2023, while rising gas prices are driven by factors like increased capacity costs.
Despite the changes, the Commission assures that state utilities will have adequate supplies of both natural gas and electricity for residential and commercial customers.
The annual report is part of the state’s winter readiness review, helping New Yorkers prepare for potential fluctuations in their energy costs.
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