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Con-Ed Wants to Hike Electric and Gas Prices Next Year

The power giant wouldn't disclose how much it is seeking to increase, but is lobbying the state in November for the change.

Con-Ed wants to hike up the already high electricity and natural-gas prices in New York City and Westchester in October 2013, according to the New York Post.

The company is asking the state Public Service Commission for the increase this November, Con-Ed CFO Robert Hoglund told the paper, adding that the state’s decision will take 11 months.

Con-Ed wouldn’t disclose how much more money customers will have to pony up to keep their lights on, or whether it will seek single-year or multi-year hikes.

According to the Post, Con-Ed’s electricity prices have consistently been among the country’s highest, with a 10 percent jump in price in 2010, even as the national average price hardly changed. There was 2.5 percent jump in April.

And despite paying amongst the most in the country, Con-Ed’s customers in New York City use less electricity than other Americans, according to Hoglund. So, a monthly bill for a small apartment in the city is on par with the bill for an entire house in some parts of the country.

This summer, after contract disputes over new hires’ pension plans. About 5,000 managers stepped up to do work like splicing cables, responding to emergencies and stocking shelves. In August, an agreement was finally reached.

Jenny September 07, 2012 at 08:34 PM
I have to assume that this hike has to do with that settlement. How could it not?
EARLDINE JACKSON September 08, 2012 at 04:28 AM
Whenever you see a price hike is being requested it's a done deal. We have no say about it I like so many others are on a fixed income the working class are'nt getting raises in there pay to cover all the increases that are coming our way. Cost of food increased gas increased do I live in the dark how many hours can I keep the heat on this winter. Folks stock up on candles and blankets for what may be a long dark cold winter.
Every Woman September 08, 2012 at 06:30 PM
I can't eben get the courtesy of a call when their equupment fails and I am without power for over a day. Why should I pay more money? And price hikes have nothing to do with the settlement because the workers did not recieve any significant gains in compensation. Look at their coporate reports. Rrcord gains last year. Rate hike request to fuel corporate greed. They better get my service restored and stop trying to fleece the public.
Lou Howort September 09, 2012 at 12:48 AM
The public service commission serves only the 1%. The 10% price increase since 2010 is not the result of increased wages for the workers. Those increases and the new ones that will almost certainly be approved by the public service commission is for one reason and one reason only. To increase profits.
Noah Schechtel September 11, 2012 at 01:22 PM
I cannot help but agree with all your remarks and findings. HOWEVER, we are all paying into SBC/RPS charges which are used to fund all energy rebate programs to customers paying into SBC/RPS.(System Benefit Charge and Required Portfolio Standards) I own an electrical and solar company in NYC where many an educated person/company will ask us to either install, do a feasibility study on replacing existing lighting with LED lighting and/or investigate the feasibility of solar for there home or business. So... there is a way to combat and lock in electrical costs for the next 25yrs by employing solar and LED lighting. Thanks for offering this platform for this post. You are free to contact me at 718-812-5780 or Noahsarc5914@aol.com Have a productive day!!!! ... Noah Schechtel

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