Energy company agrees to pay $1.5 million
Residents in Philipstown and Beacon were notified this week by postcard of a settlement in a lawsuit involving an energy supplier who abandoned a contract to provide renewable electricity at a fixed rate, costing consumers an estimated $30 million.
Cold Spring, Philipstown and Beacon approved the settlement with Columbia Utilities over the summer. The company was sued by 10 municipalities that jointly purchased energy under a community choice aggregation (CCA) program called Hudson Valley Community Power. Columbia denies any wrongdoing.
Columbia agreed to pay $1.5 million. Up to $300,000 can be used for legal and administrative expenses, and the balance will be distributed equally to customers enrolled in the CCA as of July 18, 2022. Officials expect the payout will be around $50 per customer.
Residents who agree with the settlement can enter the notice ID and pin from the postcard at cupccaprogramsettlement.com to verify their address and select a payout option. Call 844-804-4105 with questions.
