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These electric shocks are just a taste of what Albany has in store

New Yorkers still reeling from last winter’s higher electricity bills should now expect summer prices to be 12% higher than last year. And the pain will only keep coming, thanks to the state’s insane energy plans.

Con Edison just told customers in New York and Westchester that summer bill hikes could be “in the range” of 11% to 12%. Covering Albany, the state’s Public Service Commission says the jump can “largely be attributed to the global increase in natural gas prices.”

Basically, yes. But it is state policy that guarantees ever-escalating electricity bills. Governor Kathy Hochul embraced her disgraced predecessor’s drive to make New York carbon neutral long before technology made it affordable (or quite possibly even possible: Blackouts ahead!), and the legislature largely agrees.

After all, lawmakers wrote then-Gov. Cuomo’s ban on fracking in law, so abundant natural gas is stuck in the ground in the Marcellus and Utica shales. Additionally, Cuomo forced Indian Point to close early, depriving the region of the reliable, affordable, carbon-free nuclear power that provided much of its electricity.

Multiple factors, including “international uncertainty” regarding energy supplies, are contributing to the price rise.
Christopher Sadowski

Today, natural gas-fired power plants produce more than a third of the electricity consumed by New York businesses and homes, so we are more vulnerable to these global price shocks.

Meanwhile, Con Ed needs a rate hike of more than $1.2 billion to fund the next round of “upgrades” required by the state’s Climate Leadership and Climate Protection Act. , which forces utilities to burn money on expensive new wind and solar power sources, plus transmission lines to get electricity to customers and back-up ability to keep lights on when sun and wind don’t cooperate.

How many more rate hikes are coming? Achieving the state’s climate goals will take much more $100 billion in capital investment, and utilities have only one source of income: you. (Currently, taxes alone account for about a third of each customer’s electricity bill.)

And Hochul wants to make it worse, faster: Only a fit of common sense by Assembly Speaker Carl Heastie kept her from banning natural gas hookups in all new construction in the state. Meanwhile, his team canceled permits for new gas pipelines needed to run power plants.

New Yorkers already face the highest electricity bills in the country, and it will only get worse. Until they vote to change the direction of Albany, the only thing that will reduce the pressure is the exodus of businesses and residents to states that aren’t run by lunatics.