The New York State Public Service Commission approved the new electric rate plan for Orange and Rockland Utilities, Inc. on Thursday, June 14.
The plan will affect O&R electric customers’ bills beginning July 1, 2012. It will increase the typical residential electric full service customer’s bill by roughly $3.06 per month. A typical user on average uses 677-kilowatt hours a month.
The three-year plan will help increase revenues of $15.223 million for each year.
The plan includes money to help O&R’s investment in the communities it serves in Rockland, Orange and Sullivan counties for building new substations and upgrading infrastructure, including transmission and distribution lines and facilities to provide reliable service.
The new rates allow O&R to continue to attract the required capital to finance these projects. Ratepayers will also be hits with a $4 to $5 new monthly tax on their O&R bill from Rockland County. Between the tax and the rate increase, the average household can expect to pay almost $100 more per year on energy costs.