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New York state panel freezes ConEd electric, gas rates

  • The New York state Public Service Commission votes to freeze Consolidated Edison's (ED) electricity rates for two years and natural gas rates for the next three years.
  • The freeze covers the charges consumers pay for the delivery of electricity and gas - it does not cover the actual price of the commodities, which aren't regulated by the state - so the supply portions of consumers' bills will vary according to the market prices for natural gas and electricity generation.
  • ED did not get the rate increases it sought, but it wasn't strapped with rate cuts consumer advocates wanted; ED says the new plan will allow it to move ahead with $1B in infrastructure upgrades.
Comments (2)
  • 1980XLS
    , contributor
    Comments (3314) | Send Message
     
    Mario Cuomo killed LILCO (Shoram)
    Andrew Cuomo killing LIPA

     

    De Blasio will kill Mr ED

     

    Free "stuff " for everybody!

     

    Starting to see a pattern here.
    20 Feb, 05:46 PM Reply Like
  • RPearl
    , contributor
    Comment (1) | Send Message
     
    Isn't that the Socialists way? Cuomo thinks he's Robinhood.
    21 Feb, 01:04 AM Reply Like
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