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Con Ed Asks For Higher Rate Hikes

con ed1.jpgCon Edison is asking state regulators for rate hikes next year that are even higher than previously requested.

In a filing with the Public Service Commission, the utility is asking for an additional $819 million in revenue for next year, which is $165 million more than it asked for in May.

Con Ed cites higher property taxes and operating costs and less demand for electricity for the increase.

The commission is reviewing Con Ed’s request and could approve or reject it, or approve a lower amount.

(Source: NY1)

2 Responses

  1. The price of oil would be relevant to the extent that ConEd generates their electricity from oil. But probably most of the electricity it generates comes from coal, natural gas, & uranium.

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