Overview
- The Feb. 26 memo models a hypothetical cap-and-invest path and calls the law’s current design infeasible under today’s market conditions.
- It projects by 2031 more than $4,100 in gross annual costs for upstate oil and gas households, with New York City gas households facing about $2,300.
- The analysis ties compliance to fuel-price increases, including about $2.23 per gallon added to gasoline and $16.96 per MMBtu for natural gas.
- NYSERDA assumes carbon allowance prices starting near $120 per ton and rising to about $179.80 by 2031, while noting electrified homes could see net savings.
- Hochul’s budget director signaled a push for changes as environmental groups disputed the assumptions and Republicans cheered the findings, setting up a budget fight with a skeptical Legislature.