A rate hike of over 9% is on the way for residential customers of Con Edison in New York City. This increase comes after the city 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 plan, but that – like many other things – comes at a cost.
While the new program is a long-term solution for the state’s sustainability, it will affect electric customers by tripling electricity rates over the next two years. The initial 9% increment is scheduled for August 2023, followed by another increase in January 2025.
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 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 is a recent neighborhood transplant, 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, 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.
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