New Yorkers pay 3rd-highest electricity costs in US, trailing only Hawaii and California

Zap!New Yorkers pay the third-highest residential electricity prices in the country — trailing only Hawaii and California, a shocking new report reveals.Frustration over New York’s sky-high high energy costs has emerged as a top campaign issue in the governor’s race pitting Republican Bruce Blakeman against Democratic incumbent Kathy Hochul.“Third highest in the nation is not where New York should want to be on electricity prices,” said Zilvinas Silenas, president of the Empire Center for Public Policy.“If this is affordability, New Yorkers cannot afford it.”New York’s residential electricity prices were a whopping 29.93 cents per kilowatt-hour in May, based on the latest federal data, the analysis by the Albany-based think tank found.Hawaii came in at 52 cents per kilowatt-hour, and California at 33.25 cents per kilowatt-hour, the common billing unit for electrical energy supplied by a utility.New York’s prices were 62% higher than the national average, nearly double Florida’s and more than 80% higher than Texas’.Electricity prices in the Empire State also rose 12% from a year earlier — twice the rate of increase for the US average.And New York has jumped in the rankings — from 8th highest among states last October and November, to 6th highest in December to 4th in April and 3rd in May, according to the Empire Center.Meanwhile, New York’s average residential natural gas prices were 15% above the national average, and ranked 19th highest in the US, the analysis found.“New York’s energy policy is contributing to the higher costs we have warned about for years,” said Silenas, adding increased electricity demand is also a factor.Gavin Donohue, president of the Independent Power Producers of New York State said “the biggest culprit of high electricity rates in New York is high taxation.”Transmission and distribution costs, taxes and fees and green energy mandates combined account for 70% of utility bills, he said.At the same time, N...