News · Press Release

NEW: Josh Riley Introduces Bill to Ban Foreign Ownership of Utility Companies – Saving New Yorkers Money on Energy Bills

Riley: “This is about protecting our economy, our security, and our communities. Our power companies should answer to American families — not foreign shareholders.”
Congressman Josh Riley is fighting to ensure that Upstate New Yorkers’ hard earned money stays right here at home, not shipped overseas. 

This week, Riley introduced the Keep the Lights Local Act – new legislation to ban foreign ownership of local utility companies like NYSEG and Central Hudson, which are both owned by foreign parent corporations and continue to funnel hundreds of millions overseas while asking Upstate families to pay more.

Riley’s cost-saving legislation comes on the heels of his formal investigation into the billing practices of NYSEG and Central Hudson – demanding that the region’s utility corporations justify the billions in profits being siphoned out of the community before raising rates on working families even more.

Read more on the Congressman’s efforts:
Binghamton Homepage: Josh Riley introduces bill to save New Yorkers money on utilities

  • On Thursday, Congressman Josh Riley introduced the Keep The Lights Local Act.
  • Riley says it has been a trend across the state that New Yorkers’ hard-earned money is going to NYSEG’s parent company, Iberdrola, which is located overseas in Spain.
  • He says the act will combat national security issues and financial hardships amongst New Yorkers.
  • “Moving this legislation forward is part of a larger effort to bring down the utility bills, make the utility service more reliable, more affordable, make sure our electrical workers are getting paid what they deserve and making sure folks can keep a little bit more money in their pockets,” said Riley.
  • Riley says that NYSEG sent a $450 million dividend to Spain.
  • Riley says he will work on gaining bipartisan support for the act and will continue his investigation into utility companies.
WBNG News 12: Rep. Riley proposes “Keep the Lights Local” bill

  • Congressman Josh Riley is proposing a bill in the House of Representatives that would keep lights local.
  • The legislation would prevent foreign corporations from owning Upstate utility companies, like NYSEG, which is owned by Avangrid, whose parent company is located in Spain.
  • Riley said this is a widespread issue. Central Hudson in N.Y.’s Hudson Valley is owned by Fortis, a foreign corporation.
  • The congressman said that instead of sending money overseas, New Yorkers’ electric bills should stay in their communities.
  • “That money needs to stay in our pockets, stay in our community. It should be used to pay our workers. It’s going to require the companies to come into compliance within a few months, and we’re going to literally take our power back,” said Riley.
Finger Lakes 1: Bill aims to block foreign ownership of U.S. utilities like NYSEG, National Grid

  • Rep. Josh Riley wants to kick foreign corporations out of the American power grid — starting with utility companies in Upstate New York.
  • On Thursday, Riley (NY-19) introduced the Keep the Lights Local Act, a federal proposal that would ban foreign governments and corporations from owning U.S. utility companies.
  • “The foreign corporations who own our utility companies are raking in record profits while Upstate New Yorkers are getting crushed by utility bills,” Riley said. “That ends now.”
  • Riley pointed to companies like NYSEG and Central Hudson, which he said are funneling hundreds of millions of dollars to overseas parent companies while asking New Yorkers to pay more.
  • Riley said the bill would keep dollars in local communities, allowing for investments in the grid, higher wages for workers, and lower monthly bills for customers.
  • The bill also targets national security. Riley said the U.S. electric grid is vulnerable to cyberattacks and sabotage from adversaries like Russia, China, and Iran — and that foreign ownership only increases those risks.
  • “This is about protecting our economy, our security, and our communities,” Riley said. “Our power companies should answer to American families — not foreign shareholders.”

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