Hurricane Sandy not expected to raise electricity rates

Northeast utilities say they don't expect the devastating Hurricane Sandy to cause any serious price hikes, and that even if repairs require additional costs, customers won't be expected to pay out of pocket for their electricity, Pennsylvania Live reports.

According to the media outlet, Scott Karns, CEO and president of Karns Food, said the prices of electricity, food or gasoline likely won't rise.

"We really don’t expect to see increases from this storm," he said. "What you are going to see are some out of stock [items] until the supply chain is filled."

Jennifer Kocher, Pennsylvania Public Utility Commission spokeswoman, said that nuclear, coal and natural gas facilities and supplies were not affected by the hurricane, which will protect customers from rate hikes, the media outlet stated. Residents may, however, see a slight change on their bills if their power went out for an extended period, which would lead to a lower monthly bill.

Often when natural disasters strike, utilities must recoup their losses by implementing higher rates. In areas with energy deregulation laws, however, customers have the opportunity to find the best electricity rates and make the switch.