Will the state lose revenues in state taxes?

Not really. First, the state regularly gives up revenues that would have been collected through state taxes. For example, it gives tax breaks to certain types of for-profit businesses, including real estate developers, and it also gives various types of tax credits. Fortunately, the state has a myriad of choices through which it can make up for the revenues that would otherwise have come from the state tax Central Hudson pays, which is paid by the ratepayers. For example, it can easily collect the difference through a very minor tax increase on large corporate profits made in the state by big companies such as Apple and Walmart.

Second, taxpayers fund the Public Service Commission to regulate companies like Central Hudson, and they also fund many energy affordability programs. If we keep utility bills low enough so that more people are able to pay them, we would also see some savings.