New York Power Rate Increase Sought for 1st Time Since 2012

  • Consolidated Edison utility files rate case with regulators
  • Average electric bill would rise 4.5%, gas would rise 8.2%

New York City-area electric customers would see the overall average bill rise 4.5 percent under Consolidated Edison Inc.’s first rate proposed increase since 2012, part of a plan to boost revenue by $482 million, the utility said Friday. 

The average gas customer would see an 8.2 percent increase, boosting gas delivery revenue $154 million, the company said.

The proposals come as the utility pushes energy efficiency efforts to conserve power use in electricity-hungry New York city, the nation’s largest. Among other things, ConEd has launched a program in parts of Brooklyn and Queens that seeks to defer a $1 billion substation in favor of a $200 million program installing new energy efficiency systems in homes and businesses, as well as utility-scale battery storage.

The proposals, if approved by regulators, would take effect Jan. 1, 2017, and fund infrastructure investments. The company also plans pilot programs testing residential methane detectors, according to the statement.

According to ConEd, a typical New York City residential customer using 300 kilowatt-hours of electricity per month would see a bill increase from $78.52 per month to $82.63 per month. A typical residential customer using natural gas for heating would see an average monthly bill increase from $142.31 to $153.30.

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