Central Hudson reporting its residential electric supply costs will increase this week
Paul Kirby is reporting for the Daily Freeman Central Hudson Gas & Electric Corp. said July 11, the price for its residential electric supply has slightly increased since June. The company’s residential price for electric supply will rise from 4.18 cents per kilowatt-hour in June to 5.83 cents per kilowatt-hour, as of July 13. In June, the supply price decreased from 6.12 cents per kilowatt-hour in May to 4.18 cents, as of June 10, according to the utility. In late June, Central Hudson said natural gas prices had slightly as of July 1. The utility said the supply price for natural gas has decreased to 72 cents per 100 cubic feet, down from 77 cents in June. Supply prices shown on bills and overall bill effects will vary for individual customers depending on their billing cycle and energy usage. Central Hudson buys electricity and natural gas on behalf of full-service customers on the energy market and, according to the company, it does not mark up the price. The New York State Public Service Commission recently announced the state is prepared to meet the increased demand for electricity this summer, but it anticipates supply costs to increase. The PSC attributes the increase to higher summer energy demand, the ongoing economic recovery and international uncertainty surrounding energy supplies. Central Hudson’s billing practices are currently under investigation by the PSC and a state Senate committee led by Sen. James Skoufis. Read the full story in the Daily Freeman.