New York ConEd Electricity Rates Increase
Consolidated Edison urges its customers to manage their energy costs as winter draws near. Consolidated Edison will offer tips and information on energy saving and payment assistance options. The company also offers incentives to customers who make efficiency upgrades to their homes. New York has a deregulated gas and electricity market. This means that customers can choose to buy their energy from other suppliers known as Energy Service companies (ESCOs).
Many ESCOs offer competitively priced plans that may provide lower rates than the default rate that is offered by ConEd. Customers can use a tool located at the top of this page to determine how con ed current market rates compare to the plans offered by other providers. The tool utilizes your ZIP code as well as the start date to produce a list of ConEd-approved energy service providers.
Consumer advocates say that the recent and planned ConEd rate increases will impose the burden of living on families, especially those with low incomes. They argue that the increase in gas and electricity bills will force families to decide between paying for their essential utilities and other necessities. This could lead to a cycle of debt that could lead to utility disconnection and bankruptcy.
The proposed rates will include changes to the delivery charge. It is a charge that is charged by ConEd to keep its system in place for transporting energy from the place it is generated to your home or office: wires and substations towers, transistors and towers; etc. This portion of the bill is regulated by the state’s Public Service Commission. Customers are required to be informed when changes are about to occur. The second component of a Con Ed bill is the supply charges, which differ in relation to the cost of fuel needed to power the generators that generate electricity. These are set by the markets and can change with factors like weather patterns, demand and global events that affect the availability of energy, such as the conflict between Ukraine and Russia.
Due to the need to invest into resilience projects, such as replacing aging infrastructure, both of these costs will increase. The increase in the delivery cost will cost customers 11% more for their electric bill and 18% for their gas bill.
The cost of the resiliency plans will be shared by all ConEd customers. However, the company is attempting to minimize the impact of the increase on its lowest-income customers by offering options to prevent an increase in their gas or electricity rates. These options include reducing energy consumption by washing laundry with cold water and installing LED lights. Also, they offer the option of applying for energy-saving programs or a levelized bill program that distributes the cost of a customer’s bill over the course of the year.
The utility has declared that it is committed to helping its communities and clients with low incomes and will continue to do this. It will also provide information on other options to help pay their bills, such as a variety of credit and payment programs. These opportunities will be announced via press outreach email, bill inserts, emails and social media posts.