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Coronavirus Economic Weekly News 28March 2021
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Electricity Demand Expected to Grow 3% in 2021
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U.S. Sen. Kirsten Gillibrand is scheduled to make a stop in Dunkirk on Monday.
Gillibrand is slated to be at Dunkirk’s City Hall before 1:30 p.m. to call for robust Low-Income Home Energy Assistance Program funding in the next coronavirus relief package in order to provide critical assistance for low-income households and seniors.
Within the last year, the economic crisis caused by the coronavirus pandemic has put an unprecedented financial burden on New Yorkers, her office said. Millions of New Yorkers are finding it more difficult to afford the cost of keeping the heat turned on in their homes during the cold winter months. According to the National Energy Assistance Directors’ Association, one in five homes in the country is at least 60 days behind on the electric and gas utilities.
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Securitization is a financial tool that can reduce utility debt with low interest bonds secured by ratepayers, and with utilities growing costs related to COVID-19, the energy transition, and climate change, interest is accelerating.
But utilities and their customers are facing hundreds of millions or even billions of dollars in such costs, which is raising oversight concerns. When oversight has been introduced, it has led to lower interest rates and lower transaction costs, stakeholders in such proceedings told Utility Dive.
Duke Energy s $1 billion proposal to use securitization to meet storm recovery expenses in North Carolina provides the criteria necessary for the commission to evaluate Duke Energy s proposed transactions, Duke spokesperson Meredith Archie said in an email. It allows the commission to determine whether and to what extent it wants to be involved in the transaction once it issues its order.
Gillibrand Plans To Be In Dunkirk On Monday | News, Sports, Jobs
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