Excessive profits coming back to community
Sun December 8, 2013
National Fuel settlement to bring refunds to customers
A settlement has been reached with National Fuel that will bring refunds to customers and additional green jobs to Western New York.
Lengthy negotiations between the utility, the New York State Public Service Commission, PUSH Buffalo and other community organizations have resulted in the return of millions of dollars in refunds and energy saving programs to Western New York homeowners and businessmen. State Senator Tim Kennedy describes the dispersal of the $10 million dollar settlement.
"One point seven-seven millions dollars will be refunded to local businesses, $3.7 million will be sent back to residential customers, and $2 million will be directed to weatherization programs with $1.75 million going directly to weatherization and home improvements, especially for some of the older homes in the core of our community."
The push for the settlement came after it was revealed that National Fuel had earned more that the allowable 9.1% percent in profits from 2010 through 2012.