Electricity and natural-gas prices in New York City and Westchester will jump in October 2013 if Con Ed gets its way, the company’s top finance officer said yesterday.
The company will seek the increases from the state Public Service Commission in November, said Con Ed CFO Robert Hoglund. The state’s decision will take 11 months.
It’s unusual for Con Ed gas and electric rates to jump at the same time.
The simultaneous price hike is looming because Con Ed put off plans to file for an electric-rate increase in May. Had it done so, electric rates would likely have risen six months earlier, in April 2013.
Con Ed wouldn’t disclose how much more money it wants from customers next year, whether it will seek single-year or multi-year hikes, or any other details of its plans.
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The price of Natural Gas is falling nationally, albeit less so in New York since the state has “green policies” that discourage inexpensive gas production.
Electricity shouldn’t be rising, though Obama’s energy policies do force prices up. If New York were more consumer oriented rather than “green”, it would encourage building new refineries and generators, and get lower rates.