FEBRUARY 1998NYSEG plan
The state Public Service Commission (PSC) has approved the five-year rate restructuring plan developed by New York State Electric & Gas Corp. (NYSEG) and modified by the PSC.
The new rate restructuring plan allows all customers to choose their own electric supplier by August 1, 1999. It also provides ratepayer relief of approximately $725 million.
NYSEG's rate restructuring plan reduces rates by five percent a year in all five years for large industrial customers and major power users. It also freezes base rates for residential and small business customers at current levels for four years, with a five percent reduction in the fifth year.
The plan provides for a cost-based rate for small industrial and commercial customers. Small industrial customers will be able to choose their electric suppliers starting in August of 1998.
February 5, 1998