Electricity rates are expected to rise $280 million per year with $70 million of that coming just this summer across the Mid-Hudson Valley. There is a serious reliability problem in the region because there just is not enough energy available to consumers. To solve this problem, the federal government recently approved a new capacity zone for the Hudson Valley, which means that local ratepayers are going to have to front the money to build new generation.
This comes just as New York State is beginning a massive transmissive upgrade to bring upstate power into the Hudson Valley, which promises to resolve the reliability problem without raising utility bills.
Rising temperatures can bring shockingly high electric prices, however, this summer, rising electric rates in the Lower Hudson Valley may burn much worse than any prolonged summer sun exposure. So sit back in your beach chair and unwind with us as we unravel the story of the Hudson Valley’s Energy Future.