Now that a federal ruling has raised the amount that power generators can get, which would then result in a 12% rate hike for Con Ed customers, on top of another previously-scheduled 4% rate hike, we need a hero to stop this madness. And Senator Charles Schumer is signing up for hero duty: Schumer told the Post that he spoke to the head of the Federal Energy Regulatory Commission, "I told him how upset we were about FERC's decision, and how we thought they left out some very key information, and about how we wanted a rehearing. He said there will definitely be a rehearing."
Schumer, Mayor Bloomberg, and other officials think that FERC is giving Con Ed the extra money because it mistakenly thinks the city won't guarantee property tax breaks to power generators. Con Ed is also against the extra hike (it is a power transmission company, so it won't get a cut of the rate hike) and says that it'll get blamed by customers instead. Schumer said of FERC Chairman Jay Willinghoff, "He's not averse to changing his vote. I'm going to fight this tooth and nail. I think it's really unjust for ratepayers in New York and bad for business and job growth... I got the feeling that we have a second shot here. He wasn't being perfunctory, or 'Yes, yes, yes.' He was serious. He understood."