Officials say this is due to increases in supply prices for both electricity and natural gas as the region navigates a colder than average winter and as global energy factors come into play, prompting an increase in the demand and price for energy. Supply prices are market-based and not marked-up by Central Hudson.

Energy Bills

Central Hudson believes bills for natural gas will increase by about 19 percent, electric bills will increase by 46 percent, and about 29 percent for combination electric and natural gas bills.

Upset young couple having problem with central heating or suffering from cold or flu
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These bill increases are temporary and may vary for individual customers depending on energy usage and their billing cycle, officials say. For example, customers receiving bills now may see the effect of these increases spread out over their current bill and next month’s bill.

“Locally, this January featured sustained temperatures that were 11 percent colder than average and 16 percent colder than January 2021. This contributed to driving gas usage up more than 13 percent and electric usage up nearly 6 percent over January 2021,” Senior Vice President of Customer Services and Gas Operations at Central Hudson Anthony Campagiorni. “The increased usage, coupled with international and domestic factors, has caused the market price of natural gas and electricity to rise here in our region and around the world. Natural gas has become a global commodity that not only heats our homes but is also heavily relied upon to produce electricity on demand and whenever needed.”

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Reasons for the price increase

Contributing to higher prices for electricity and natural gas include:

  • Increased domestic demand due to colder weather this year as compared to last year.
  • Constrained domestic pipeline capacity curtails gas supplies.
  • Lower electric production by renewable generators in the winter, which shifts power production to generators using natural gas.
  • Regionally, an increased reliance on natural gas for power generation following the closure of Indian Point.
  • Increased global demand for natural gas, as the United States is now a primary exporter of liquefied natural gas to Europe due to shortages there.
  • Increase domestic demand for electricity and natural gas as the economy recovers from closures prompted by the COVID-19 pandemic.
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Energy Efficiency and Billing Programs

Low-cost and no-cost efficiency measures homeowners can take to help manage energy costs include:

  • Insulating ducts and hot water pipes where they run through uninsulated areas, such as crawl spaces, and repairing leaks in the duct system;
  • Adding insulation, particularly in the attic;
  • Turning down thermostats (each degree saves up to three percent on energy use);
  • Keeping radiators and heating ducts clear of furniture to allow heat to circulate freely; and/or
  • Sealing air leaks with weather stripping and caulk, which can save up to 10 percent on the use of heating fuels.

LOOK: Here are 25 ways you could start saving money today

These money-saving tips—from finding discounts to simple changes to your daily habits—can come in handy whether you have a specific savings goal, want to stash away cash for retirement, or just want to pinch pennies. It’s never too late to be more financially savvy. Read on to learn more about how you can start saving now. [From: 25 ways you could be saving money today]

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