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NYSEG files for rate hike

By LARRY RULISON, Business writer
Last updated: 7:52 p.m., Tuesday, January 27, 2009

New York State Electric & Gas, which serves parts of the Capital Region, is seeking to raise rates for gas and electric customers.

     
The Rochester-based utility, now part of Iberdrola SA of Spain, says it needs the rate hike for $800 million in capital improvements and to improve its bond rating.

Under the proposal submitted today, which needs approval from the state Public Service Commission, the average electric bill would increase $8.80 per month, or 9.9 percent, and the average gas bill would increase $12.20 per month, or 8.8 percent.

That's a $21 increase for the average gas and electric customer.