HomeApril 7, 2014
N.Y. State Senator Seeks Public Hearing on Utilities' Default Service Hedging Practices
Copyright 2014 EnergyChoiceMatters.com.
New York State Senator Joseph Griffo has called on the PSC to hold public hearings on the utilities' hedging practices for default supply.
"I'll be advocating for public hearings on the hedging practices of utilities and what, if any, legislative action could be undertaken to inoculate customers from future, unexpected fluctuations in costs," Griffo said.
The PSC had previously indicated that it would be reviewing at least one utility's default supply procurement practices (click here), but a wider proceeding on generic default service hedging has not been initiated.
Griffo also asked the PSC to explain, "what you are doing to prevent additional shocks to the system."
Griffo noted that National Grid customers are paying, on average, about double what they were spending during the winter months in 2012 and 2013.
In the interim, Griffo urged his constituents to research the different electric and gas suppliers, "and take advantage of the open, competitive market if possible."
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