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New York PSC Expects Flat Winter Electric Pricing, Natural Gas Prices Slightly Higher
October 18,2018 The New York State Public Service Commission announced that the price of electricity this winter is expected to be about the same as last winter on average, while the price of natural gas will move slightly higher. However, based on a normal weather forecast, more moderate weather is expected to counter higher prices and as a result, customers’ bills on average should remain about the same compared to last year, the PSC said The PSC said that this winter’s electricity prices statewide are projected to be about the same as last winter, although commodity prices can vary significantly due to weather and other conditions. While gas bill impacts will vary by utility, natural gas bills in general are projected to be roughly the same as last year but still lower than bills in recent years, the PSC said The PSC said that, "The State’s investor-owned utilities have continued to reduce the volatility of electric and gas supply prices to their full-service residential customers. The electric utilities have hedged approximately 70 percent of their estimated statewide full service residential electric supply needs to protect against unexpected electric market price swings that could occur this winter. Between financial hedges and gas held in storage, gas utilities have hedged approximately 49 percent of their estimated statewide firm customer needs."
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