With NYS threatening to chop nearly 40 percent from its latest one-year request to hike electricity rates, Con Ed is beginning negotiations with the Public Service Commission in hopes of reaching a three-year deal more to its liking.
The talks are expected to last four or five weeks, said Chan Lubling, Con Ed’s vice president for regulatory services.
Lubling hopes the company can reach a pact that would stretch through 2012 and would help Con Ed and the PSC avoid a series of burdensome, lawsuit-like annual reviews.
In May, Con Ed asked the state for a one-year rate deal that would amount to an 8 percent increase in residential customers’ electricity bills starting in May 2010.
On average, the proposed hike would cost customers about $6.50 a month, company officials say.
PSC staffers in August proposed paring that increase to around 5 percent, to an average $4 per month.
(Source: NY Post)
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One Response
In NYC we pay for electricity at a rate that is double the national average, We pay the highest rate in the contiguous 48 states.
There is no justification for any kind of rate hike!
This is simple greed combined with lobbyist and campaign payoffs talking.
This cam only be construed as another example of Albany corruption.