Statement: PSC Approval of Electric & Gas Rate Investment Plan

The three-year investment plan approved today is essential to helping New York State achieve its clean energy goals, as well as to continue providing safe and reliable service to our customers. In addition to investing about $3 billion each year for electric and gas service reliability, the plan provides major funding for clean energy programs and energy efficiency.

We will be encouraging customers to choose alternatives to fossil fuels with incentives and rebates for geothermal heat pumps, energy efficient appliances and electric vehicle chargers. The plan provides $700 million over the next three years for energy efficiency programs that are some of the most cost-effective ways for customers to reduce bills.

We will also develop a climate change implementation plan to manage climate change risk going forward.