New York Electricity Consumer News

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With so many air handlers, chillers, and condensers at the tops of buildings, it’s no reason many New Yorkers think electricity costs are through the roof.

Con Edison Rate Hikes Okayed for Next Three Years.

Dubbed by the PSC as a means to cover “increased property taxes, new infrastructure investments, higher depreciation expenses and increased operating expenses.” Monthly electric bills are expected to increase 2.3% this year and then 2.4% during each of the two next years. For apartment dwellers, that’s an increase from $78.52 to $84.20. Homeowners can expect average increases from $109.64 to $118.30.

Increases will also effect gas rates.

Con Edison is raising its transmission and distribution rates to cover improvements to bring them in line with the states’s Reforming the Energy Vision (REV) program.

Power Consumers Burdened with Taxes and Fees

In the wake of PSC approved price hikes for Con Edison, the Independent Power Producers of New York, Inc. (IPPNY) accuses the states utilities and the PSC of piling taxes and fees onto monthly customer bills. According to the Albany-based trade association, IPPNY found that in spite of prices declining in the state, 70 percent of electric bills are composed of “excess taxes and fees.” In a brochure released on January 25, IPPNY makes the case that 2016 bills from both National Grid and Con Edison broke down to 29% for electricity supply, over 50% for transmission and distribution, 10% for New York State Taxes and Fees. In the case of National Grid, 11% of the bill went to their Electric Supply Reconciliation Mechanism or hedging charge. National Grid’s charge is explained as a way to help customers in winter months “…avoid paying a high bill during an unusually cold month.” However, customers are surcharged in the months afterwards. IPPNY says this charge rose from 2% of the monthly bill in 2012 to 11% in 2016 because National Grid has been overpaying for electricity supply and is recovering the cost from its customers.

You can ALWAYS find a better deal!

In times of uncertainty and rising prices in the New York electricity market, the best way to stay in front of rising prices is to explore the information, ratings, and rankings of New York electricity suppliers at NY Energy Ratings. NY Energy Ratings is the only place on the web that lets you get all the information you need to shop, compare, and sign up for electricity plans that fit your family’s needs.

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