Con Ed Offers Plans For Rate Hike in 2011, 2012

Last month, the Public Service Commission approved a 2010 Con Ed rate hike that would result in about a $6/month increase in a residential customer's bill. Now, the utility is asking for rate hikes in 2011 and 2012 because Con Ed doesn't think the first hike will do enough, given its rising costs. One plan calls for a hike of about $6.48/month for residential customers while another proposes a $8/month hike. This isn't sitting well with Assemblyman Michael Gianaris (D-Queens), who says, "Just last month Con Ed was handed over $700 million in rate hikes, and already it has its hand out again. Con Ed fiddles while homes explode and blackouts and electrocutions become routine. This unaccountable monopoly does not deserve one cent in additional rate hikes until it reforms its practices and changes the way it does business."