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Central Hudson says electricity rates falling

Mar 14, 2022 1:23 pm

Paul Kirby reports for the Daily Freeman that Central Hudson Gas & Electric Corp. says the residential price for electricity in the Mid-Hudson region will be 46 percent less per kilowatt hour this month. “Continued volatility in the energy markets are prompting swings in electricity and natural gas prices,” the utility said in press release. “Central Hudson’s residential price for electric supply has fallen 46 percent, from 21.6 cents per kilowatt hour (kwh) in February to 11.6 cents per kwh in March, effective March 11. As previously announced, natural gas prices rose 24 percent, from 73.9 cents per hundred cubic feet in February to 91.6 cents per ccf in March, effective March 1,” the company added. The company warned energy prices will stay high this year because of the "recovering economy, energy supply constraints, strong energy demands and global events." Central Hudson spokesperson Joseph Jenkins said it is difficult to estimate bills this month. “We’re not able to do direct bill impacts because March is a transition month, where customer usage varies greatly (as can the weather),” Jenkins said. “The electric rates we distributed today (March 11) will begin to impact billing today and moving forward. That being said, not all of our customers are on the same billing cycle. Depending on when you receive your bill, the supply rate you’re charged is a blend of the two months’ rates.” Read more about this story in the Daily Freeman.

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