Thanks to a Federal Energy Regulatory Commission Ruling, Con Edision will be raising its rates by 12% this summer. According to NY1, "That's on top of another four percent state-approved ConEd rate hike. The typical apartment electric bill averages $74 but that will go up $12 from last summer. Businesses can expect a nearly 18 percent increase on their bill." Okay, start praying we don't have another heat wave.
Con Ed says it asked the government to reconsider the ruling, and Mayor Bloomberg said, "These utilities have to be profitable or they can't raise money and can't improve the service. It's also very hard on people and businesses to pay higher energy costs," said the mayor." He also explained how New Yorkers can deal with the rate hike, "Use less energy and it makes the problem less of a problem... People say, 'Oh, that greeny stuff, oh that environmental stuff.' Well, you can think of it as that, but another way to think of it is, short-term, it's reducing your energy bill."