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Weekend July 31 - August 1, 2010 |
Copyright © 2010
Mid-Hudson News Network, a division of Statewide News Network, Inc. |
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| O&R seeks electric rate increase |
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PEARL RIVER – Orange and Rockland Utilities filed a rate hike request with the state Public Service Commission that would see an 11.9 percent, or $78 million, increase over three years beginning July 1, 2011. Under the plan, filed Friday, the overall bill for a typical residential electric customer would increase an average of $13.66 per month in the first year, by $4.93 in the second year, and by $2.70 per month in the third year. In the first year of the increase, O&R is seeking to recover costs incurred over the past three years such as storm restoration costs. In the event the three year plan is not approved, O&R is seeking a one year rate plan that would feature an increase of 7.3 percent to the total bill. “We keenly understand that we need to continue to work harder and smarter to reduce costs, particularly during these economic times,” said utility President and CEO William Longhi. “We also recognize how vital a dependable electric system is to a strong community, a healthy local economy and the well-being of its residents. That’s why O&R has tried to strike a balance in this proposal between keeping the rates as low as we can while meeting the need to maintain the safe and reliable operation of the electric system.” |
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