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Company extends suspension of late payment charges until April 15
Submitted by New York State Electric & Gas
New York State Electric & Gas (NYSEG) is reminding customers of payment options, budget billing, and energy efficiency programs to help manage their bills. Late payment charge suspension will continue until April 15, and the company will not disconnect residential customers through March 27. Customers in arrears may receive a shut-off notice if they have not yet reconciled their bills; these notices are necessary as they enable them to apply for emergency assistance.
While global price volatility increased energy supply prices, bills for the heating season were much lower than originally expected. Gas bills for NYSEG customers were about 18% higher than last year. Initial forecasts predicted customers would see a 40% increase in gas supply price from December through March over last year. The company estimated the average residential customer in Eastern New York would see about a 45% increase in electricity this winter. Customers saw a 36% increase. Residential customers in Western New York saw a 13% increase in electricity prices this year, compared to the 14% increase initially forecasted.
"There are many variables that impact the supply price of electricity and natural gas, but the main factor that kept prices lower than anticipated this winter was related to supply and demand," said Patrick Fox, senior director of energy services for NYSEG and RG&E. "The Northeast experienced a much warmer winter than forecasted, leading to lower demand, and with no change in natural gas production levels, there was greater supply available for natural gas customers and electric generation, which was the main driver to lower than forecasted electric and natural gas prices.”
For more information on bill assistance or other available resources, visit nyseg.com/HelpWithBill.