ConEd Customers To See 12 Percent Rate Hike
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Households around the five boroughs will soon see their electric bills soar.
As part of a ruling by the Federal Energy Regulatory Commission, ConEd customers will see a rate increase of up to 12 percent come June.
That's on top of another four percent state-approved ConEd rate hike.
The typical apartment electric bill averages $74 but that will go up $12 from last summer.
Businesses can expect a nearly 18 percent increase on their bill.
Mayor Michael Bloomberg says he's not happy and is urging the government to reconsider.
"These utilities have to be profitable or they can't raise money and can't improve the service. It's also very hard on people and businesses to pay higher energy costs," said the mayor.
For its part, ConEd called the decision misguided and released a statement saying in part, "Con Edison has petitioned federal regulators to reconsider a Federal Energy Regulatory Commission decision that will impose up to $500 million a year in unfair costs on our customers."