ALBANY, New York — The state’s power authority has revised a rate increase for its municipal power customers after an initial plan drew backlash from local officials and Gov. Kathy Hochul.
The New York Power Authority’s board approved for public comment a rate increase for some of its customers Tuesday. The proposed increase primarily impacts 51 municipal and cooperative electric utilities that benefit from low-cost hydropower.
Why it matters: NYPA’s prior plan would have led to a tripling of electricity rates in 2028 as the authority sought to cover major investments in its hydropower dams. That proposal drew backlash from local officials, Republican lawmakers and the governor amid growing affordability concerns.
The newly revised proposal has support from the municipal utilities who opposed the original plan. The increases will amount to a $1 increase for the average residential customer — about 350,000 are impacted — each year for six years.
