Kingston, NY – “52.2 million adults, or 23% of all US adults, reported not being able to pay their energy bills at least once in the previous year. Meanwhile, for-profit utilities – known as investor-owned utilities – requested a historic $18.13 billion increase in 2023 alone. When approved by state regulators, around half of these increases are paid for by residential customers.

We also know that compared to investor-owned utilities, who on average raised their rates by 49% more than inflation in the last three years, publicly-owned utilities raised their rates by 44% less than inflation – a trend that shows that public ownership is the cheapest way to own, operate, and upgrade what is by nature a very expensive infrastructure.

Our bill, the Hudson Valley Power Authority Act (A02127 Shrestha/S02026 Hinchey), would replace investor-owned Central Hudson with a not-for-profit state corporation. A recent feasibility study shows that through the acquisition alone – without further policy and efficiency changes to generate savings – it would immediately save $15.2 million in Year 1, $116.8 million annually by Year 20, and $210.5 million annually by Year 30.

Please fill out our survey and share widely. We would love to hear from as many Central Hudson customers as possible.”

The survey can be taken at: https://actionnetwork.org/surveys/2025-utility-survey/

Sources for the statistics:
https://climateandcommunity.org/research/overcharged/
https://www.economicliberties.us/our-work/rate-of-return/