For Immediate Release: July 21, 2016
Following the announcement that PSEG-Long Island will be increasing the “decoupling” portion of their electric bills on Long Islanders, Assemblyman Dean Murray (R,C,I- East Patchogue) today spoke about the continually rising cost of energy.
“Power supply charges have risen 35 percent so far in 2016, and now PSEG wants to raise our rates even higher? This is unacceptable; Long Islanders have been dealing with some of the highest energy costs in the nation for far too long,” said Murray. “I have long advocated for the Caithness II project, a financially and environmentally superior alternative to PSEG’s energy monopoly.”
The average PSEG-LI customer currently pays $1.69 of decoupling charges on their bill; this increase would raise that rate to $4.30, an increase of 154 percent. The decoupling charges are adjusted based on revenue collections to investor-owned utility companies.
“I’ve also introduced legislation, Assembly Bill 10683, which would prohibit PSEG-LI from providing any power management services or electric resources planning for Long Island while they also sell power to that market and compete with other power plants on Long Island,” Murray said. “PSEG claims that raising these costs will allow the company to push more green programs in the future, yet the rate change is based on revenue. Does a corporation that generated $10.4 billion in revenue last year really need to increase our rates? Or is this just another excuse in its effort to push competitors out of the market and gain a full monopoly of our energy here on Long Island?”