Key Takeaways
- State policy actions could save households in New York State at least $341 per year compared to the status quo, according to a new report from Synapse Energy Economics
- Customers would see electricity and gas bill savings as soon as 2027, with upstate customers saving $341 a year by 2030, and downstate customers saving $431
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Background
Energy is too expensive for New Yorkers, with costs increasing by over 50% in fewer than 10 years. Our broken system puts utility profits over consumers, and the federal government is making things worse by trying to block clean energy projects that would reduce electricity prices and protect consumers from volatile fuel costs. Artificial intelligence data centers will soon drive up power demand and costs even more if action isn’t taken.
But New York can cut annual electricity and gas utility bills by at least $341 a year per household by 2030 with these five key policy interventions. Savings are calculated for households with gas and electric service and are compared to the status quo. These policies include: requiring data centers to bring their own new clean energy, expanding customer-owned power sources like rooftop solar and batteries, right-sizing monopoly utility profits, reducing gas pipeline replacement costs, and avoiding major new gas system investments.
