Con Ed rates, frozen for now, could be increased in 2016

|By:, SA News Editor

ConEd's (ED) agreement to freeze New Yorkers’ gas and electricity delivery rates over the next several years actually contains a built-in rate increase, according to an analysis by the AARP.

To avert the increase, ED and New York state regulators would need to set new rates when the two-year electric and three-year gas price freezes expire; if no action is taken and the rate freeze expires, ED could collectively raise customers’ electric bills by $47.7M in 2016 and gas bills by $40.8M in 2017, the AARP says.

Whether that scenario actually occurs is an open question, but rate orders often expire without action by either regulators or Con Ed.