Con Ed rates to go up 22%, highest 1-year jump on record

Con Edison says rising fuel and electricity prices are forcing it to increase rates 22 percent, the biggest year-to-year increase on record. The utility originally talked about a 13 percent increase,

News 12 Staff

Jul 11, 2008, 9:16 PM

Updated 5,790 days ago

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Con Ed rates to go up 22%, highest 1-year jump on record
Con Edison says rising fuel and electricity prices are forcing it to increase rates 22 percent, the biggest year-to-year increase on record.
The utility originally talked about a 13 percent increase, but settled on 22 percent because of rising costs. Rates for businesses will go up 25 percent.
State Assemblyman Richard Brodsky (D-Greenburgh) says such increases are the effect of what he calls a ?bizarre? system of purchasing and distributing electricity. He says the system creates a monopoly and leaves the consumers with no alternative or ability to affect outcome.
Part of the 22 percent increase includes a summer-to-summer increase passed by the state in April. Con Ed says electricity bills may go down if fuel prices drop or if July and August are cooler than expected.


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