Another NYSEG Rate Increase Is Coming To New York

If you are a NYSEG customer get ready for another rate increase coming in the next couple of weeks.

READ MORE: NYSEG CUSTOMERS GETTING REBATE IN APRIL

New York State's Public Service Commission voted unanimously to approve a 22% increase in rates over a three-year period back in July of 2023.

WHAT IS THE RATE INCREASE FOR NYSEG ELECTRIC USERS?

NYSEG residential electric customers who use 600 kwh per month on average saw an increase of around $9.50 on their monthly bills starting last November. The 2nd rate increase is coming in May and, customers are expected to see an increase of around $9.00 and then an increase of around $5.00 in 2025 for a total of around $23.50 after three years.

WHAT IS THE RATE INCREASE FOR NYSEG GAS USERS?

NYSEG Gas users won't have the same increase as electric users. In in May, Gas customers will have an increase of around $2.15 and then another $4.10 monthly increase in 2025. Overall gas customers will see a $11.35 increase to their monthly bill by 2025.

READ MORE: THE COST OF STAMPS COULD INCREASE IN 2024

WHY ARE NYSEG RATES INCREASING?

The price of electricity and gas is expected to increase as companies that provide the services are expecting increases in their operating budget with millions earmarked for pipe improvement across the state. NYSEG is also expected to hire over 200 people over the next several years to help increase the amount of help at the customer service level.

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If you are a NYSEG customer you can expect to see an increase in your monthly bill starting next month.