One of the most reliable indicators of tough times is how many people have their electricity turned off because they did not pay the bill.
According to the latest figures from Con Edison, times seem to be tough – predating the recent stock market turmoil.
The utility said that in the month of September, 9,639 residential customers had their electricity turned off for nonpayment, 13 percent more than in the same period in 2007. The amount of those unpaid bills jumped faster – 28.3 percent – to $8.9 million, a reflection of the rise in energy prices.
During the same period, 1,600 nonresidential customers had their power turned off, an 8 percent increase.
The numbers provide a good indication that more people are having financial trouble, because electricity is so crucial to everyday life that families and businesses often do whatever they must to keep the lights on.
Con Ed jumps through a lot of hoops to warn customers that their electricity is in danger of being turned off. It sends as many as five warning letters over a 90-day period before turning a customer’s electricity off, according to Michael Clendenin, a spokesman for Con Ed. The company also calls customers and will occasionally visit a residence or business.
During that time, Con Ed gives customers who are in arrears a chance to work out a payment plan, which, more often than not, heads off disaster.
In September, 342,073 residential customers were in arrears for more than 60 days, an 18 percent jump from the same period the year before.
(Source: NY Times)
Join the official YWN WhatsApp status
2 Responses
Once a person falls behind,he can’t catch up.No electric=no life
Con ed has the worst payment rules ever, they don’t except most major credit cards. If your check is not honored by the bank twice in 12 months, they won’t take your check for another year by mail, phone or online, even if it’s from a different checking account, and you have a million dollars there.
once you’re in default with them, you’re in hot water.
however, sometimes you’d be eligible for a leveled payment schedule, and you can always run the last minute to a payment location (a few of them throughout brooklyn) with a cash payment.