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Projects average increase of 29 percent for gas, electric
Central Hudson is warning customers that their gas and electric bills are expected to spike by nearly 33 percent because of the winter cold, higher demand for natural gas and reduced production of electricity generated by renewable energy sources during the winter.
The company projects that its customers, who include residents and businesses in Beacon and Philipstown, will see their bills increase by an average of 46 percent for electric and 19 percent for gas, with combined bills rising by an average of 29 percent.
Temperatures for January were 11 percent colder than average and 16 percent lower than January 2021, driving up demand for both electricity and gas, the company said on Feb. 11. In addition, it said the energy it buys is costlier because of other factors, including constrained pipeline capacity, higher natural gas exports to Europe and the closure of the Indian Point nuclear power plant.
Prices for natural gas rose by 33 percent in February and have more than doubled for electricity, Central Hudson said.
“The increased usage, coupled with international and domestic factors, has caused the market price of natural gas and electricity to rise here in our region and around the world,” said Anthony Campagiorni, a representative for the company, in a statement.
On Thursday (Feb. 17), Sen. Sue Serino, whose district includes the Highlands, called on the state to suspend its taxes and fees on energy bills.
