Happy New Year’s Consolidated Edison customer! Get ready to pay significantly more for gas and electricity. New York could see a significant increase to gas and electric bills. The company has proposed rate hikes starting January 1, with more increases to come in 2021 and 2022.
Electric bills will increase by about 4 percent in 2020, almost 5 percent in 2021, and another 4 percent in 2022 for an almost 13 percent hike. Gas rates will go even higher with about a 7.5 percent increase in 2020, almost 9 percent in 2021, and about 7 percent in 2022 for a total increase if 25 percent (see below):
Obviously, hikes such as this will have an adverse effect on middle-class and low-income people, as well as small businesses that rely on Con Ed for their power. New York could see a significant increase in Gas and Electric Bills. As such, groups such as AARP are pushing governor and public service commission to reject the hikes. What the governor will do is not clear.
“This administration will not allow a multi-billion dollar utility to line shareholders’ pockets at the expense of everyday New Yorkers,” said Jordan Levine, a Cuomo spokesman. Of course, as we’ve seen time and again with this administration, from congestion pricing, to cashless tolling, to enormous tax breaks to the Real Estate industry, small business and the middle-class has never been the governor’s priority.
Con Ed residential customers already pay the highest electricity rates charged by any major utility, according to federal data which could explain why about 10 percent of customers are more than 60 days behind on their bills.
Con Ed sells electricity in ass five boroughs as well as in Westchester County. They sell natural gas in Manhattan, the Bronx, parts of Queens and in Westchester.
Public Service Commission officials plan on holding a pair of public hearings on the proposal on Wednesday (12/11) at the SUNY Global Center at 116 E. 55th St. at 6:30 pm, and at the Yonkers Public Library at 1 pm. Anyone unable to attend these meetings should call Governor Cuomo’s office.