Because of a Federal Energy Regulatory Commission ruling that will impose an unnecessary 12% Con Ed rate hike (a typical $74 apartment bill would go up $12), Governor Andrew Cuomo is getting involved. The Post reports that he "will introduce legislation 'within the next few days' permitting the city to guarantee permanent property-tax abatements to local electric-generating companies, removing the basis for a little-noticed FERC decision that could hike electric rates by $500 million a year." Cuomo spokesman Josh Vlasto said, "This is a common-sense fix for a problem that could cost New York rate-payers hundreds of millions of dollars per year." more ›

While Upper East Side residents feel it's been hell without a second subway line, some Second Avenue business owners are feeling the pinch from the MTA's construction of the long-awaited Second Avenue Subway. Yesterday, businesses asked Mayor Bloomberg to give them a hand, by boosting state legislation aimed at aiding them. more ›