The New York State Public Service Commission says there will be enough natural gas and electricity supply to cover the demands of all residential and commercial customers this winter. But the prices of natural gas, propane and heating oil continue to rise, forcing utility rates to go up.
The PSC Head says all the utilities serving New York State have hedged their bets with electric and gas supply to mitigate any market swings this winter. The Commission expects monthly electric bills for an average home to be 42 percent higher this winter depending on the weather. And for gas, they say it will be up about 29 percent. That translates to an extra $75 a month on electric and $240 per month more on gas