BUFFALO, N.Y. (WKBW) — If you're a NYSEG customer, expect your utility bill to be higher starting this month. The company's planned rate hike takes effect November 1st.
It's a decision we learned about last month when it was approved by the state's Public Service Commission.
Since this will impact how families make ends meet, 7 News wanted to break it down for you.
The rate hike is a three-year plan. The average NYSEG electric customer will see rates go up:
- About $10 a month starting this month.
- About $9 a month starting in May 2024
- About $11 dollars a month in May 2025.
If you think you might have a hard time making ends meet with these higher costs, NYSEG says you should first see if you qualify for any help through the Home Energy Assistance Program. Applications for the 2023-2024 program open on Wednesday.
READ MORE: What you need to know: Applications for Home Energy Assistance Program open on Wednesday
The company says then you should call them because you might be able to get on a budget billing plan or it might be worth it for you to check out a time-of-use plan. With a time-of-use plan, you pay different prices depending on when you're using services.
"Time of use plans can really help people us the bulk of their energy during off-peak hours. So things like when you run your air conditioner, your dishwasher, when you might do laundry - if you can move the time you use those appliances that we know use a lot of energy to maybe later in the evening off-peak hours, that may be a plan that can save you money in the long-run"
In Upstate New York, NYSEG has a division in Lockport and Lancaster. Company reps say they want customers to know where the money is going.
New York State has ambitious clean energy plans for the next 10 years. NYSEG says the money from the rate hike will be used to:
- Enhance the grid making sure it's ready for electric cars and electric heating
- Replace aging or damaged electric poles
- Modernize equipment to reduce the number of power outages customers see
- Regularly trim trees that could impact power lines
