National Grid is proposing a hefty rate hike for natural gas bills next year, impacting roughly 2 million customers in NYC and Long Island. JohnBDias has the details:
As expected, homeowners who rely on natural gas are not pleased.
National Grid blames inflation and government green energy requirements, saying in a statement,"This proposal demonstrates our commitment to reducing emissions, promoting electrification, and decarbonizing the gas network." "I don't think it is normal," said Martin Melkonian, adjunct associate professor of economics at Hofstra University."They're doing pretty well, they've shown nice growth over the years, they've just increased their dividend by 4%."
Republican New York State Sen. Anthony Palumbo, who represents a large portion of Long Island and is part of the Environmental Conservation Committee, says raising the cost of natural gas may deter people from wanting the greener option.
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