By L. Tom Roberts
Electricity will cost more starting in January for businesses, city residents and homeowners in Westchester.
How much more, says the New York State Public Service Commission (PSC): 4% electricity and 7.5% more for gas.
After that, rates are expected to continue to rise.
Representatives of PSC and a collection of energy watchdogs inked an agreement with Consolidated Edison in mid-October to permit a raise in both gas and electric rates over the next 36 months. The reason: to cover the cost of upgrades and a conversion to renewable energy.
“The average apartment renter in the five boroughs will pay $76.43, nearly $3 more per month, next year. By 2023 the bill will be almost $10 more than they pay now. Westchester homeowners will be hit with a $115.69 monthly bill. Business owners will pay nearly $200 more at the end of three years,” Crain’s New York Business reported. “Gas customers also will feel the heat, doling out about $40 more at the end of the rate-increase period.”
The increase were also okayed by Mayor Bill de Blasio’s Office of Sustainability, as well as the Natural Resources Defense Council and Columbia University’s Sabin Center for Climate Change.
Con Ed “took some hits this year after several power outages hobbled subway lines. And a four-hour blackout on the Upper West Side during the summer may have sunk Mayor Bill de Blasio’s presidential aspiration,” Crain’s noted. “The utility company argued that the rate bump was necessary to sustain and grow its infrastructure.”
If it is ultimately approved, the deal will see investments in both electric and gas power infrastructure to the tune of approximately $3 billion annually. This means that residents of New York can continue to look forward to “safe and reliable service while building the path to renewable energy and a cleaner environment,” according to Con Ed spokesperson Michael Clendenin.
The proposal still requires a thumbs-up from the entire commission, which is expected.
This isn’t the only bad news that Con Ed customers have gotten from the utility lately. Ratepayers are scheduled to begin forking over millions of dollars for work done on New York City’s subway system.
“The rate hike plan filed Friday and supported by Department of Public Service staff includes “MTA work” as one major capital cost for which ratepayers are on the hook. Every New York City electric customer will help pay for about $240 million in upgrades to the Metropolitan Transportation Authority’s system pushed for by Gov. Andrew Cuomo — if the Public Service Commission approves the rate plan,” reported politico.com.
