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Rep. Josh Riley, D-N.Y., has put criticism of soaring utility costs at the center of his re-election bid in one of the most competitive House districts in the country, but state Sen. Peter Oberacker, R-N.Y., Riley’s likely general election challenger, argues the incumbent Democrat is quietly profiting from the industry.
In response to proposed rate hikes from New York State Electric & Gas (NYSEG), Riley has accused the company of “robbery” and seeking to “line the pockets” of its Spanish owner, Iberdrola.
Recent reporting from Mid-Hudson News found that Riley owns up to $250,000 in mutual funds that hold shares of Iberdrola. The outlet also reported that Riley’s campaign received a total of $1,500 from a lobbyist who directly represented Avangrid, Iberdrola’s primary U.S. subsidiary, at the time the donations were made.
The NYSEG-tied contributions and investment listed on Riley’s financial disclosure report were reviewed and verified by Fox News Digital.
Rep. Josh Riley, D-N.Y., is facing criticism for accusing New York State Electric & Gas of “robbery,” despite owning an investment tied to its owner, Iberdrola. (Getty Images)
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“I think we could sum it up in one word: hypocrite,” Oberacker told Fox News Digital in an exclusive interview. “I don’t know any other word that fully encompasses what’s going on.”
Riley’s campaign fired back in a statement to Fox News Digital, calling Oberacker’s attack a “pathetic attempt to distract from the fact that he takes NYSEG’s corporate PAC checks.”
“The fact is, Josh doesn’t own stocks, doesn’t take corporate PAC money, and is the only person in this race who’s actually taking on the utility monopolies to lower our bills,” the spokesperson said.
Avangrid New York PAC has donated $350 to Oberacker since he began serving in the state Senate. However, an Oberacker campaign spokesman said those donations were returned prior to his entering the congressional race.
Riley, a first-term Democrat, narrowly won a purple swing district in 2024 that President Donald Trump lost by two points. The president handed Oberacker his “complete and total” endorsement in February.
Though Democrats nationwide are seeking to capitalize on voter discontent with rising costs ahead of November’s midterm elections, Oberacker said his campaign is rolling out proposals that are laser-focused on affordability issues.
The three-term state senator unveiled a “ratepayer bill of rights” in late 2025 that would require itemized billing and in-person hearings in communities subject to a rate hike, among other provisions.
If the legislation is signed into law, “The average person who’s looking at these increases in bills could actually say, ‘Where’s this going? What is this charge?” Oberacker said.
State Sen. Peter Oberacker, R-N.Y., labeled Rep. Josh Riley, D-N.Y., a “hypocrite,” following reports that the congressman has financial investments tied to a utility firm he frequently criticizes on the campaign trail. (State Sen. Peter Oberacker’s campaign; Bill Clark/CQ-Roll Call, Inc. via Getty Images)
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Oberacker also contends that “radical environmental policies” enacted by Albany Democrats are responsible for making New Yorkers pay some of the highest energy bills in the country. The Empire State’s residential electricity rates were more than 50% higher than the national average in December 2025, according to data compiled by the Energy Information Administration.
“The folks in upstate New York are being squeezed at every turn,” he said. “I’m running to bring a reality check to the congressional district.”
National Republicans have sought to tie Riley to New York’s 2019 climate law, whose implementation is widely believed to be contributing to higher electric bills. Several left-wing groups that have previously endorsed Riley — such as the New York affiliates of the Sierra Club, the League of Conservation Voters and the Working Families Party — also advocated for the climate legislation.
A Feb. 26 memo from the New York State Energy and Research Development Authority projected that households would pay $4,000 in additional energy costs per year if the state enacts a carbon tax as called for by the law. Gov. Kathy Hochul, D-N.Y., warned of “cataclysmic” costs for businesses last week, despite previously supporting the idea.
New York Gov. Kathy Hochul’s administration is warning that energy prices could increase further, following implementation of New York’s aggressive climate law. (Alex Kent/Getty Images)
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The sprawling upstate New York district could be pivotal in keeping House Republicans’ slim majority in November. The nonpartisan Cook Political Report rates the contest as “Lean Democrat.”
“There is no doubt that the House majority runs through the congressional New York 19th district,” Oberacker said.