Con Ed Faces $18M Payout After Poor Year
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Consolidated Edison is paying a hefty price for a year of providing substandard service in New York that included a major blackout in Queens. The New York State Public Service Commission ordered the company’s shareholders yesterday to pay $18 million to its customers for failing to meet quality requirements in 2006.
“As a result of the utility’s failure to meet these important targets, shareholders are directed to provide a credit to ratepayers,” the commission’s chairwoman, Patricia Acampora, said. “Hopefully, this sends a message to Con Edison that they must be diligent in efforts to maintain a reliable network, or they will face financial consequences.”
Con Edison came under heavy public criticism in 2006, after a nine-day blackout in Queens left 174,000 people without power. A report in January 2007 by the PSC blamed the company for the incident.
“The PSC decision to fine Con Edison $18 million fails to even scratch the surface of what is necessary to hold Con Edison accountable for its poor performance in 2006,” Assemblyman Michael Gianaris, whose Queens district was affected by the blackout, said. He called for further reforms to hold the company accountable. A council member of Queens, Peter Vallone Jr., of said called the PSC’s move “a good start.”
Con Edison released a statement yesterday acknowledging that they had fallen short of customer expectations, and said they are working to improve services.