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Four New York Utilities Under-collected Default Service Costs By $42 Million In Past Year
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Four New York utilities under-collected natural gas supply costs by an aggregate of $42 million for the 12-month period ending August 31, 2024, per an annual reconciliation report
The four utilities were ConEd ($31 million under-collection), O&R, NYSEG, and RGE
These four LDCs will apply surcharges to their default service gas supply rates, over 12 months, to collect the reconciliations
Among the notable surcharges, the surcharge at ConEd is $0.037 per Dth (3.73 cents per therm)
The surcharge at O&R is $0.3151 per Mcf
As in prior years, the reconciliations demonstrate the inaptitude of relying on default service rates as a benchmark of market costs, in establishing ESCO price caps
The other five major utilities with gas choice programs over-collected gas supply costs for the 12-month period ending August 31, 2024 in an aggregate amount of $54 million. The largest over-collection was at National Fuel Distribution Corp. ($41 million)
These five utilities will provide a reconciliation credit to default service supply customers over 12 months, with notable credits including ($0.7351) per Mcf at National Fuel Distribution Corp. and ($0.42872) per Mcf at Central Hudson Gas & Electric
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December 19, 2024
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Copyright 2024 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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