Governor Kathy Hochul announced this week that 478,000 New York residential customers and 56,000 small business owners will obtain assistance totaling $672 million to pay off unaffordable past-due utility bills.
Governor Kathy Hochul announced this week that 478,000 New York residential customers and 56,000 small business owners will obtain assistance totaling $672 million to pay off unaffordable past-due utility bills.
The Financial Assistance Program
Governor Kathy Hochul’s announcements in her State of the State address revealed last week addressing energy affordability and emissions reductions which is the biggest utility customer financial aid program in state history and follows a series of policies.
The Public Service Commission (PSC) in New York State approved the debt-forgiveness initiative. This program gives financial comfort to consumers that will help avoid massive statewide termination of service and make utility bills more affordable for all households including small businesses. These one-time credits give comfort to all residential non-low-income customers and small-commercial customers for the period through May 1, 2022, similar to a program approved last summer for low-income customers.
Governor Kathy Hochul’s Plans
Earlier this month, Governor Hochul announced ambitious and comprehensive approaches to address energy affordability and reduce climate-altering emissions from every sector of the economy as part of the 2023 State of the State. The Governor directed the Department of Environmental Conservation and New York State Energy Research and Development Authority to advance an economywide Cap-and-Invest Program that specifies a declining cap on greenhouse gas emissions, funds programs that drive emissions reductions and maintains the competitiveness of New York industries. Moreover, this Cap-and-Invest Program will push significant benefits to New Yorkers in the form of a Climate Action Rebate.
Governor Hochul also revealed the $200 million in relief for high electric bills by providing a discount to more than 800,000 New Yorkers making below $75,000 who have not been qualified for the State’s existing utility markdown program, a new initiative that is separate from today’s $672 million announcement. Furthermore, Governor Hochul also discusses the creation of the Energy Affordability Guarantee, the first-in-the-nation pilot program that ensures low-income New Yorkers participating in the EmPower Plus program don’t pay more than 6% of their incomes on electricity and incentivizes them to fully electrify their homes.
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