ALBANY – The State Public Service Commission today (Thursday) approved what it is calling “moderated” electric and gas rate hikes that are less that what Central Hudson had originally requested.

In the first year of the three-year arrangement, electricity delivery rate will increase by 5.5 percent. In year two, the rate will increase by 5.3 percent and in years two and three.

The original proposal called for electric rate hikes of 8.8 percent, 9.4 percent, and 5.8 percent.

Under the joint agreement approved by the PSC and the utility, natural gas delivery would increase by 9.4 percent.

The new agreement will see the average residential customer’s electric bill go up by 3.47 percent in the first (an additional $6.67) and second years, and 3.2 percent in the third year.

For the average

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