NEW YORK (WKBW) — New York State has announced a new program that aims to help you save money on your electric bills, but you probably won't see any savings until about 2026.
According to Governor Kathy Hochul, the New York State Public Service Commission approved a request by the New York Power Authority to establish the Renewable Energy Access and Community Help program also known as the REACH program. The program aims to provide electric bill credits for low-income New Yorkers in disadvantaged communities.
The governor's office said the PSC has established a regulatory framework to allow electric utilities to receive funds from the Power Authority to credit the electric bills of low-income ratepayers in disadvantaged communities.
Lindsay Kryzak, the vice president of corporate communications for the New York Power Authority, said the REACH program is part of NYPA's strategic plan to expand the state's renewable energy resources to meet Governor Hochul's climate goals.
"The REACH program is part of NYPA's expanded authority to develop renewable energy and make sure energy costs are affordable for New Yorkers across the state. It's really important as we go through this energy transition, not to leave any New Yorkers behind," she said.
The plan calls for building new renewable energy generation projects first before the REACH program begins.
"These initial 40 projects as part of our draft strategic plan, are across New York state. They consist of battery storage, wind and solar, we will create new renewable energy projects to ensure that the energy is transmitted across the state," she said.
Kryzak said once these renewable energy projects are up and running, you can start to see those credits reflected in your bill but that won't begin until 2026.
There will be a public hearing about this strategic plan next month in Lewiston. You can find more information on page 5 of the plan here.
The program will utilize the same structure as the Energy Affordability Program (EAP) and Statewide Solar for All program which according to the governor's office, will lower costs for program administration and allow for more funds to be received by low-income ratepayers.
*Editor's note: This story has been updated after speaking with the New York Power Authority to reflect that customers won't see bill credits until at least 2026.*
