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For Immediate Release: 6/12/2025 Rory M. Christian, Chair Contact:
James Denn | James.Denn@dps.ny.gov | (518) 474-7080 25071 /24-G-0447
June 12, 2025
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PSC Dramatically Reduces Corning’s First Year Rate Request |
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Commission Adopts Multi-Year Joint Proposal Supported by Company, Department Staff, and Large Industrial Customers ALBANY — The New York State Public Service Commission (Commission) today adopted a four-year rate plan for natural gas service provided by Corning Natural Gas Corporation that will levelize revenue increases over four years to moderate rate impacts. The four-year rate plan was supported by the company, staff of the Department of Public Service, and a group of large industrial customers known as Multiple Intervenors. Corning serves about 15,000 natural gas customers in the southern tier of New York State.
“The adopted joint proposal meets the legal requirements that the company continue to provide safe and adequate service at just and reasonable rates, with a focus on reducing its greenhouse gas emissions,” said Commission Chair Rory M. Christian. “The four-year rate plan is in the public interest. The forward-looking plan we have adopted benefits customers and includes provisions that further important state and Commission objectives, while keeping customer affordability first and foremost in mind.”
Corning initially requested an increase in annual gas delivery revenues of approximately $13.66 million (60.2 percent increase in delivery revenues or 42.3 percent in total revenues) for one year. According to Corning, the requested increase in gas delivery revenues would have resulted in a total monthly bill increase of about $59.18 (41.9 percent on a total bill) for the average residential heating customer.
The adopted joint proposal establishes levelized revenue increases of $2.3 million in the first year beginning July 1, 2025; $2.4 million in the second year; $2.6 million in the third year and $2.8 million in the fourth year. On a total bill basis for a typical residential heating customer the results yield total bill increases of 5 percent, 6.5 percent, 6.6 percent, and 6.8 percent in each of the four rate years, respectively.
The main rate drivers are cost of debt; capital expenditures for leak prone pipe replacement and other infrastructure investments; depreciation expense; labor; insurance; and property taxes. The adopted joint proposal continues or enhances numerous provisions in the prior rate order (customer service, gas safety metrics, customer service performance metrics, low-income and energy affordability provisions, and other measures). It encourages the company to pursue non-pipeline alternatives.
The adopted joint proposal also requires detailed reporting requirements related to capital expenditures, including the development and implementation of processes and procedures governing capital budgets and incentive compensation.
Today’s decision may be obtained by going to the Commission Documents section of the Commission’s Web site at www.dps.ny.gov and entering Case Number 24-G-0447 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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