ALBANY, New York — New York residents will pay an increasing amount through their utility bills to support renewables and electrification investments over the next four years.
The Department of Public Service released its second report on the costs of implementing New York’s landmark 2019 climate law Thursday. The report includes for the first time forecasts of future impacts to utility bills through 2029.
Why it matters: The report was presented to the commission at its Thursday meeting. It provides data about how much New Yorkers are currently paying through their utility bills for the state’s clean energy programs — and how much they might be hit with in the future.
The upfront costs of the state’s transition to clean energy have become a political flash point. Gov. Kathy Hochul (D) has sought to distance herself from the goals set by the law, citing rising costs. She has vowed to continue making progress but also paused implementation of a “cap and invest” program. That program could have shifted some costs off utility bills by raising revenue through fees on gasoline and other polluting fuels.
