Residents here have an early reason to cheer 2014 — a freeze in their gas and electric utility bills.
Gov. Cuomo and Con Edison announced a deal Tuesday that puts a lid on electric bills for two years and holds the line for three years on gas and steam service for customers in the city and Westchester.
Con Edison, citing infrastructure damage from Hurricane Sandy, last January filed a plan to zap customers with a 3.3 percent hike on electric bills and 1.3 percent increase for gas service.
The typical monthly electric bill for a city apartment using 300 kilowatt hours of power is $ 81.64. It would have jumped to $ 84.55, if the increase had been approved.
A typical gas customer pays $ 188 monthly to heat a home. It could have gone up to $ 190 under the aborted one percent hike.
Cuomo, who is running for re-election this year, early on objected to any increase. The state Public Service Commission regulates and sets rates for utilities.
“This is a clear victory for consumers and businesses, particularly those who suffered through power outages from Superstorm Sandy last year,” Cuomo said.
The governor also noted that large industrial firms will actually see a cut in their rates.
In a statement, Con Edison said the agreement also allows it to spend $ 1 billion to upgrade its electric, gas and steam lines to better prepare for future storms.
“We’re also pleased that most of our customers will see little or no change in their delivery rates for electric for two years, nor in the delivery rates for their gas and steam service for three years,” the utility said.
Con Ed said it was able to squeeze more savings from lower borrowing costs and energy efficiency to offset the loss of revenue from rate increases.
The agreement also includes stricter accountability measures for providing and restoring customer service.
Mayor Bloomberg endorsed the settlement.
The PSC is expected to approve the deal.
Yahoo Local News – New York Post
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