Rep. Josh Riley wants to kick foreign corporations out of the American power grid — starting with utility companies in Upstate New York.
On Thursday, Riley (NY-19) introduced the Keep the Lights Local Act, a federal proposal that would ban foreign governments and corporations from owning U.S. utility companies.
“The foreign corporations who own our utility companies are raking in record profits while Upstate New Yorkers are getting crushed by utility bills,” Riley said. “That ends now.”
Utility profits going overseas
Riley pointed to companies like NYSEG and Central Hudson, which he said are funneling hundreds of millions of dollars to overseas parent companies while asking New Yorkers to pay more.
- NYSEG sent $450 million to its Spanish parent company, Iberdrola, while requesting rate hikes.
- Central Hudson sends about $80 million annually to its Canadian parent, Fortis.
- National Grid, owned by a British multinational, raised average residential bills by $22/month this year.
Riley said the bill would keep dollars in local communities, allowing for investments in the grid, higher wages for workers, and lower monthly bills for customers.
Security concerns drive urgency
The bill also targets national security. Riley said the U.S. electric grid is vulnerable to cyberattacks and sabotage from adversaries like Russia, China, and Iran — and that foreign ownership only increases those risks.
- A state audit found 128 deficiencies at NYSEG and RG&E, including weak local control.
- Central Hudson suffered a customer data breach tied to aging software.
- National Grid recently signed a state Data Security Agreement after blocking millions of malicious emails.
“This is about protecting our economy, our security, and our communities,” Riley said. “Our power companies should answer to American families — not foreign shareholders.”
Statement from NYSEG and RG&E
NYSEG and RG&E provided the following response:
“We’re disappointed with the Congressman’s deliberate mischaracterization of our company and our 3,200 employees who live and work in upstate New York. Our number one priority is powering New York’s communities, including the Congressman’s district. While we understand he is preparing for a difficult election cycle in an increasingly challenging political environment, our company, union, and employees do not appreciate his increasingly intolerant and divisive rhetoric. It is unproductive and overlooks real solutions we have asked to work with him on. It is also making it harder for our employees to do their jobs safely in their communities.
“As storms become stronger, communities grow, and our customers use the grid in new ways, 20th century infrastructure is being strained by 21st-century challenges. As we have shared with the Congressman, the Iberdrola Group has backed NYSEG and RG&E with more than $1 billion in financing over the last decade, provided access to global supply chains that would otherwise be out of reach, and used bulk purchasing power to help get lower prices for supplies and equipment. Those facts speak for themselves, even if the Congressman chooses to ignore them.
“We encourage the Congressman to learn more about our employees and the infrastructure sites we are urgently working to upgrade. By doing so, we believe he will see the value our company is creating for New York families, businesses, and communities, and the impact his words are having on the men and women who work at NYSEG and RG&E.
“At a time when energy prices are rising across the nation, we are surprised the Congressman would propose such a radical approach that would reduce competition and raise costs on New Yorkers. We need more energy investments, not less. The Congressman has the opportunity to affect real change at the federal level but is forsaking it for cheap shots that only serve to move us backwards.”
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