How will HVPA lower rates?

HVPA will lower rates in the following ways, among others: (1) Not investing in unnecessarily capital-intensive projects that investor-owned utilities currently invest in only because it’s how they increase profits (2) Prioritizing cost-saving initiatives that are currently not deployed because they’re not profitable (3) Eliminating profits altogether (4) Not paying federal and state taxes (5) Accessing the type of low-cost financing that is only available to publicly-owned corporations (6) Getting preferential treatment from other public authorities, such as the New York Power Authority that sells a limited amount of affordable green energy (7) Having the option of generating its own energy for sale, which Central Hudson is not allowed to do as a private monopoly (8) Utilizing the direct pay provision of the Inflation Reduction Act to fund certain projects without passing cost to ratepayers (9) using progressive rate structure to lower the cost burden for low to average-use customers.

A recent analysis from Tom Konrad, Ph.D., CFA, found that switching to public power would lead to expected savings of 6.6% of revenue, which translates to $45 million.