WASHINGTON – Congressman Josh Riley (D, NY-17) is being called a “hypocrite” by his opponent in November’s election for being a vocal critic of New York State Electric and Gas (NYSEG) while investing in the energy firm.
“If you look up hypocrite in the dictionary, there’s a picture of Josh Riley counting all the money he’s made off raising New Yorkers’ rates through the roof,” said Dain Pascocello, campaign manager for Republican Senator Peter Oberacker (51st District). “New Yorkers can’t afford any more of phony Josh Riley.”
A spokesperson for Riley did not immediately return a message seeking comment for this story.
Riley has repeatedly criticized NYSEG and its parent company, Avangrid, over high utility rates and the millions of dollars sent to their owner, the Spanish multinational Iberdrola. However, Riley owns a mutual fund that holds shares of Iberdrola. According to a financial disclosure report filed last year, Riley has between $100,000 and $250,000 invested in the Fidelity International Index Fund.
Matt Nelligan, a spokesperson for New Yorkers for Affordable Energy (NYAE), said that by criticizing NYSEG and investing in its parent company.
“You can’t argue that profits flowing to Iberdrola are somehow wrong, but dividends flowing to you are perfectly fine,” Nelligan said. “If the structure is unethical, then why is he participating in it? It’s easy to blame the utility companies; it’s much harder to admit that you support some of the policies driving up your constituents’ bills and are also profiting from the very companies you are blaming.”
Oberacker has received two contributions from the Avangrid New York PAC totaling $350 over the past four years, but Pascocello said those funds were returned. Just last month, Riley participated in a hearing of the Public Service Commission in Albany, where he cross-examined NYSEG executives and demanded answers about why the utility monopoly is demanding residents pay higher bills while sending millions in profits to its foreign parent company.
“NYSEG ripped hundreds of millions out of our community to line the pockets of their foreign parent company in Spain, and they admitted under oath yesterday that they knew all along they were going to jack up rates and make Upstate New Yorkers pay for it,” Riley said at the hearing. “It’s robbery, plain and simple.”
Comments