A staggered rate hike is on the way for residential customers of Con Edison in New York City. This increase comes after the Public Service Commission, a state-run agency, approved a plan to help the state reduce its dependence on fossil fuels. The new plan will allow ConEd to invest in the city’s green initiative, but, like many ventures, this comes at a cost.
The increased rates will help cover the new expenses ConEd will incur to change much of their current infrastructure as they transition to a clean energy system. While this is a long-term solution for the state’s sustainability, it will affect electric customers by increasing their electricity delivery rate over the next two years. For 2023, the rate will go up by 8.7%. According to the company’s website, in 2024, the rates will increase by 4.3%, and in 2025, the rates will go up by 1.7%. That’s a total increase of 14.7% over the next year and a half.
Canarsie residents expressed dissatisfaction with the new rates. Ebony, who resides in the East 80s, believes it’s unfair to raise the rates again, as her rates have already been increased; she’s considering relocating to the South where the cost of living is lower than in New York. Emanuel, who lives close to Flatlands Avenue and recently moved to the neighborhood, told the Canarsie Courier, “It’s unjust. These companies keep raising prices on everything, and regular people are just trying to make ends meet every day.”
Mike, the owner of Mike’s Liquor on Ralph Avenue, said that business is already challenging, and this increase could severely impact his enterprise. He doesn’t comprehend the reason for an increase when people are already paying substantial amounts for their electric bills.
Con Edison has programs for those who are having a hard time paying their electric bills. Customers are encouraged to call 212-358-4565 or visit coned.com/billhelp.
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