Printer Friendly

NEW YORK STATE ELECTRIC & GAS SEEKS HIGHER RATES IN AUGUST 1993

 BINGHAMTON, N.Y., Nov. 20 ~PRNewswire~ -- New York State Electric & Gas Corporation (NYSE: NGE) (NYSEG) today asked the Public Service Commission (PSC) to authorize a 5.5 percent increase in electric rates and a 3.6 percent increase in natural gas rates in August 1993.
 "We postponed filing for new rates for three months but, with our costs continuing to rise, we must now move forward with an application to the PSC to put ourselves in line for rate relief in the last half of next year," said James A. Carrigg, NYSEG's chairman, president and chief executive officer.
 This past summer NYSEG began discussions with the PSC staff and other interested parties on a multi-year rate settlement. At the end of August NYSEG announced it would delay its rate filing for three months so that the talks "could go forward unimpeded," said Carrigg.
 "The rate settlement discussions continue to make progress, and we remain committed to achieving a reasonable long-term settlement which, we believe, would be in the best interest of all concerned," he continued.
 He said that in the 12 months ending July 1994 (the period that would be covered by the new rates), NYSEG expects to face higher operating expenses, higher local, state and federal taxes and higher costs from having to purchase electricity from independent power producers.
 If the PSC approves the new rates NYSEG has requested, they would add $3.67 a month to the average residential electric bill (for 500 kilowatt-hours) and $1.94 to $3.22 a month to the average residential natural gas bill (for 100 therms), depending on where the natural gas customer lives.
 -0- 11~20~92
 ~CONTACT: Ken B. Hooper, manager- media relations, NYSEG, 607-762-4407~
 (NGE)


CO: New York State Gas & Electric ST: New York IN: UTI SU:

KK -- CL009 -- 3432 11~20~92 14:20 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 20, 1992
Words:307
Previous Article:LONG-TIME KANSAS CITY TELEVISION EXECUTIVE RETIRES
Next Article:APPALACHIAN POWER TO REDEEM TWO SERIES OF BONDS
Topics:


Related Articles
NEW YORK STATE ELECTRIC & GAS REVISES RATE REQUESTS
NEW YORK STATE ELECTRIC & GAS CALLS FOR REPEAL OF SIX-CENT LAW
ROCHESTER GAS & ELECTRIC SEEKS AVERAGE 3.3 PERCENT INCREASE
NYSEG POSTPONES RATE FILING
ROCHESTER GAS & ELECTRIC IN NEGOTIATIONS FOR MULTI-YEAR RATE SETTLEMENT
ROCHESTER GAS & ELECTRIC RATE SETTLEMENT AGREEMENT
NYSEG AND THE PSC STAFF SIGN MULTI-YEAR RATE SETTLEMENT AGREEMENT
NYSEG REPORTS FIRST QUARTER EARNINGS
PSC APPROVES MODIFIED RATE SETTLEMENT FOR NYSEG
MANDATED POWER PURCHASES TO DRIVE UP PRICE OF ELECTRICITY FOR NYSEG'S CUSTOMERS

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters