Streams

Mayor Rips Electric Rate Hikes

Friday, April 01, 2011

Mayor Michael Bloomberg said Friday that he plans to fight electric bill rate hikes now that the feds have approved increases for power generation companies.  

"We don't think it's necessary to reimburse producers," Bloomberg said Friday during his weekly radio appearance on WOR. "We think it's a windfall. We don't think it has any benefit to New Yorkers. We think it's going to drive up energy costs."

Con Ed bills would go up 12 percent for households at the end of May, and 14 percent for businesses.

But a spokesman for the utility said customers shouldn't blame the company — it just delivers electricity, and the Federal Energy Regulatory Commission's rate increase of $500 million per year will go to companies that generate power.

A separate 4 percent rate hike did go into effect Friday will benefit Con Ed.

In a statement, the utility said it is asking federal regulators to reconsider their rate increase, calling it misguided.

Tags:

More in:

The Morning Brief

Enter your email address and we’ll send you our top 5 stories every day, plus breaking news and weather.

Leave a Comment

Email addresses are required but never displayed.

Sponsored

Latest Newscast

 

 

Support

WNYC is supported by the Charles H. Revson Foundation: Because a great city needs an informed and engaged public

Feeds

Supported by