By Hank Russell
Nassau County Executive and GOP gubernatorial candidate Bruce Blakeman held a press conference with state Assemblyman Matt Slater (R.C-Yorktown) on April 9, calling for Governor Kathy Hochul to refund the $2.4 billion in energy tax revenue to the ratepayers.
Blakeman said Hochul’s energy policies are driving utility bills to record highs, and the state is sitting on a massive $2.4 billion “Energy Tax” surplus. Blakeman pledged that, upon taking office, he will direct the New York State Energy Research and Development Authority (NYSERDA) to immediately return these unused funds from the “Climate Investment Account” to New York ratepayers.
“Under Kathy Hochul, New York has become the most expensive state in the nation to keep the lights on. She has overseen 36 utility rate hikes while pushing mandates that produce little energy but massive costs,” said Blakeman. “While families are choosing between buying groceries and paying for heat, Hochul’s administration is sitting on a $2 billion mountain of your money. I pledge to end this slush fund and send that cash back to the people who earned it.”
Energy costs have been a hot topic in the state recently. As previously reported in Long Island Life & Politics, a memo from the New York State Energy and Research and Development Authority (NYSERDA) stated that complying with the Climate Leadership & Community Protection Act (CLCPA) mandates could cost New York City residents an average of $2,340 and upstate New York residents between $4,152 and $4,280. In addition, utility costs could increase by as much as 46%, and delivery costs could shoot up by more than 60%.
In a surprising turnaround, LILP reported, Hochul said that she would like the state legislature to hit pause on setting the deadline for the state’s climate mandate, saying it would be costly and unrealistic. The deadline was set for 2030.
On Long Island, seniors expressed concern about rising utility costs. LILP also reported that, according to an AARP New York poll. 76% of Long Island seniors believe need to do more to lower utility costs.
Since 2019, residential electricity prices in New York have surged by nearly 60%, far outstripping the national average. Despite this, Blakeman said, NYSERDA continues to hoard a surplus that is projected to reach $3 billion by 2028. He identified this surplus as the result of hidden surcharges and Hochul’s energy taxes baked into every monthly utility statement.
Blakeman announced his own Energy Relief Plan, which would direct NYSERDA to liquidate the “Climate Investment Account” surplus; provide immediate relief on utility statements, rather than long-term, speculative rebates: end the practice of collecting “surplus” funds from ratepayers that exceed the state’s immediate operational needs; and return over $2 billion to the state economy, which he says will provide a much-needed lifeline to the middle class.
“This isn’t Kathy Hochul’s money — it’s your money,” Slater added. “It is fundamentally unfair for Hochul to sit on a multibillion-dollar mountain of cash while seniors on fixed incomes and families are forced to choose between groceries and utilities. When Bruce Blakeman is Governor, we’ll work together to return Hochul’s slush fund to ratepayers.”
LILP reached out to Hochul’s office. But did not hear back as of press time.
Hochul campaign spokesperson Ryan Radulovacki issued the following statement on Blakeman’s comments: “When Donald Trump jacked up New Yorkers’ energy bills, Bruce Blakeman didn’t fight back – he cheered him on, just like he celebrated Trump’s expensive tariffs raising prices on everything, from groceries to clothing, and opposed renewable energy projects that would save New Yorkers $77 million a month. The truth is simple: Blakeman has consistently chosen higher costs for New Yorkers while Governor Hochul has lowered them — cutting middle-class taxes, putting money back in New Yorkers’ pockets, and investing in reliability and affordability,”