Proposed utility rate hikes by New York State Electric and Gas are drawing fierce criticism, according to WIVT. Congressman Josh Riley and Governor Hochul both raised concerns about the financial burden on residents, prompting a state-level review of the increases.
NYSEG says the higher rates would fund upgrades to aging infrastructure, including improved reliability and vegetation management over five years. Riley, however, accused parent company Iberdrola of funneling profits overseas, while NYSEG’s CEO countered that Iberdrola is actually investing more in the U.S. utility.
Riley now demands public hearings and full financial transparency. NYSEG clarified that no price changes have been enacted yet, and the company is seeking a long-term deal to stabilize future rates.
FingerLakes1.com is the region’s leading all-digital news publication. The company was founded in 1998 and has been keeping residents informed for more than two decades. Have a lead? Send it to [email protected].