Electricity rates skyrocket

B y Derek Liebig and Jaime Thomas

The effect of this winter’s bone chilling weather goes beyond frost bite and cabin fever. It’s also driving up the price of electricity.

Electricity prices jumped 50 percent in January and were expected to increase another 30 percent in February.

The hikes are blamed on cold weather and increased demand for natural gas.

According to Clay Ellis, manager of corporate communications for New York State Electric and Gas (NYSEG), the price of electricity is based primarily on [...]

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