PSC Cuts Liberty Gas Rate Request

ALBANY — The New York State Public Service Commission (Commission) today adopted terms of a joint proposal for a three-year gas rate plan for Liberty Utilities Corporation signed by the company, Department of Public Service staff and large industrial customers. The approved joint proposal, which is significantly lower than what the company had initially requested, authorizes the company to implement, and seek cost recovery of, automated meter reading.

The joint proposal results in levelized gas delivery revenue requirement increases of $1.06 million (5.8 percent delivery and 2.4 percent total revenue), $1.09 million (5.6 percent delivery and 2.4 percent total revenue) in the second year and $1.12 million (5.5 percent delivery and 2.4 percent total revenue) in the third year.

“The adopted joint proposal meets the legal requirement that the company continue to provide safe and adequate service at just and reasonable rates,” said Commission Chair Rory M. Christian. “The three-year rate plan is in the public interest. It is a forward-looking plan that benefits customers and includes provisions that further important state and Commission objectives, while keeping customer affordability first and foremost in mind.”

As revised December 6, 2024, Liberty Utilities requested an increase in gas revenues of approximately $2.17 million (6.12 percent increase in total revenue, or 11.45 percent in delivery revenue), for the rate year ending October 31, 2026. The requested increase in gas revenues would have resulted in a monthly bill increase of $10.91 (11.3 percent increase on the total bill or 18.5 percent increase on the delivery bill) for a residential heating customer using 81 therms per month. Instead, the joint proposal approved today by the Commission will set rates in the first year. Today’s agreement approves a return on equity of 9.3 percent for the company.

The company indicates that its request for increased delivery revenue is being made to recover increased operating costs associated with the company’s responsibility of providing natural gas distribution service in a safe and reliable manner; make capital investments to continue to provide the level of service expected and deserved by customers; and assist in the company’s push to further greenhouse gas emission reductions. Liberty Utilities, formerly St. Lawrence Gas, has about 17,000 gas customers in St. Lawrence, Lewis, and Franklin counties. The Utility Intervention Unit of the Department of State did not sign the joint proposal but did not oppose it.

Today’s decision may be obtained by going to the Commission Documents section of the Commission’s website at www.dps.ny.gov and entering Case Number 24-G-0369 in the input box labeled "Search for Case/Matter Number". Many libraries offer free Internet access. Commission documents may also be obtained from the Commission’s Files Office, 14th floor, Three Empire State Plaza, Albany, NY 12223 (518-474-2500). If you have difficulty understanding English, please call us at 1-800-342-3377 for free language assistance services regarding this press release.

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