Regulators Approve Con Edison’s 5% Rate Hike
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ALBANY — Con Edison customers can expect higher electric bills after state utility regulators approved a rate hike of almost 5%.
The increase approved today by the state’s Public Service Commission will allow Con Ed to collect an additional $425 million annually from its customers in New York City and Westchester County.
A Commission spokesman, James Denn, says the company demonstrated to the commission that a rate increase is justified in order to continue providing safe and reliable service.
Mr. Denn says the average monthly bill for a New York City household will rise $4.25. Westchester households will see an average hike of more than $5.60 a month.
He says the approved increase was a fraction of the $1.2 billion annual hike Con Ed sought.
