Town of Newburgh Town Supervisor Gil Piaquadio spoke out before the Public Service Commission on Monday October 16, 2017 and read a resolution the Town of Newburgh Town Board apopted on August 14, 2017.
The resolution states in part the towns oppostion to the rate increase Central Hudson has requested for July of 2018 thru June of 2019. Central Hudson has requested a rate increase that would raise the average electrical rate $4.19 a month or 3.7%. This would come out to a 11.9% increase from 2016 thru 2019.
Town of Newburgh Supervisor Gil Piaquadio pointed out Fortis, Central Hudsons parent company, paid divendends in 2016 at a higher rate than each of the last four years. Additionally this would be a economic hardship on our local residents, small businesses and employers in the town.