New York turns to ratepayers to help cut budget deficit; it’s a ‘flat out grab’

摘要

In what utility interests called a “flat out grab” of ratepayernmoney, New York lawmakers last week approved a 500% increasenin a utility tax to help fill a hole in the state budget.nKnown as a Section 18-A assessment on gas and electricnutilities, the tax rises to 2% of delivery revenue from about 0.3%,nadding an estimated $520 million to the state coffers. The tax isndirectly passed through to utility customers and will increasenrates 1% to 2%, depending on customer class.n“It’s a flat out money grab to help plug the deficit,” saidnMichael Moran, director of communications at the BusinessnCouncil of New York.