Orange & Rockland Utilities Inc. and Central Hudson Gas and Electric Corp. have submitted their restructuring plans to the New York Public Service Commission as part of the commission's efforts to develop a new framework for the electric industry in the state's "Competitive Opportunities" proceeding.
Orange & Rockland's four-year proposal would reduce overall rates by $37 million (Case 97034/ 96E0900). Industrial customers would pay an average electric price of 6 cents per kilowatt-hour. All other customers could expect a 1-percent rate cut in May 1997 and an additional 1-percent cut in May 1988. Orange & Rockland's "PowerPick" energy supplier choice program would be extended to all customers by May 1, 1998. Full retail access to a competitive energy and capacity market would be available May 1, 1999 for all customers. The utility would reorganize its present holding company structure into a regulated transmission and distribution subsidiary, and separate generation and energy service companies.