WASHINGTON, DC. — On September 18, Congressman Josh Riley (NY-19) introduced the Keep the Lights Local Act to ban foreign corporations and foreign governments from owning American 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. NYSEG and Central Hudson alone have shipped hundreds of millions overseas, and then they come back to demand we pay even more,” Riley said. “That ends now. The Keep the Lights Local Act bans foreign corporations from owning our utility companies because Upstate New Yorkers shouldn’t be forced to subsidize foreign corporate profits. We’re taking our power back, literally.”

Lowering Utility Bills

The Keep the Lights Local Act updates federal utility laws to prohibit foreign corporations and foreign governments from owning American public utility companies. Today, a significant portion of customers’ utility bills go toward the bottom line of the foreign corporations that own the utility companies. Eliminating foreign ownership will reduce utility bills by removing the subsidy Upstate New Yorkers are forced to pay for foreign corporate profits, according to Riley's office.

Keeping Dollars Local

Foreign-owned utility monopolies have drained communities for years, funneling hard-earned money overseas, according to Riley's office:

• NYSEG: Earlier this year, NYSEG sent $450 million to its Spanish parent company, Iberdrola at the same time it was demanding rate hikes on Upstate New Yorkers.
• Central Hudson: Central Hudson sends about $80 million annually to its foreign parent corporation, Fortis.
• National Grid: National Grid is owned by a British multinational corporation that raised average residential bills by about $22/month earlier this year.

Money that is going overseas should stay in our communities to upgrade the grid, pay electrical workers more, and lower bills. Riley’s bill ensures that hard-earned dollars stay here at home, invested in the communities who pay the bills.

Securing Our Power Grid from Foreign Threats

America’s electric grid is a prime target for foreign adversaries, including state-sponsored hackers from countries like Russia, China, and Iran who have already tried to infiltrate our critical infrastructure. Threats range from cyberattacks that could spark blackouts to physical sabotage of power stations. Even supply chain components can be compromised, leaving hidden backdoors for adversaries to exploit.

A New York PSC audit found 128 deficiencies at NYSEG and RG&E, including weak local control.
Central Hudson has already suffered a customer data breach and relies on aging, unsupported software.
National Grid has blocked millions of malicious emails and recently signed a state Data Security Agreement requiring tougher standards.

Riley’s bill makes sure our power companies answer to American communities — not foreign governments or overseas shareholders. By keeping control local, the law strengthens our grid, protects our economy, and defends national security.