Thursday, March 20, 2008

Con-Ed: Pay More And Get Less

Well here goes, Con Edison got an approval to raise our rates, even though they haven't done a damn thing to help fix the power (and steam) problems in our city. While the state is decreasing programs that help New Yorkers, they are approving a request that will tap more of us, even if it is only a few dollars, its a few more dollars that many people do not have to begin with.

From The NY Times:

Residents of New York City will see the biggest one-time increase in their bills for electric service next month, after state regulators approved a $425 million increase in rates for Consolidated Edison on Wednesday.

Starting in April, the typical household in the city will pay about $4.25 more each month for the delivery of power by the company, whose string of recent failures has drawn heated criticism from customers and elected officials, regulators said. In Westchester County, where the company is also the main utility, the typical residential customer will pay about $5.60 a month more, the regulators said.

The rate increase, which was unanimously approved by the five members of the state’s Public Service Commission at a meeting in Lower Manhattan, is a fraction of the $1.2 billion increase that Con Ed sought last spring.

As the Times notes, these five people were hesitant to approve the hike in light of all the problems Con-Ed has in delivering power and keeping pipes in the ground and not spraying out several stories into the air and killing/wounding people. Con Ed must have begged hard to get it approved. One regulator, Cheryl Buley had "misgivings" about her vote in favor....sheesh lady, why didn't you just DENY it? The tired argument for more money for improvements fall flat when they are taking in money but not improving much of anything.