Updated 01/26/2013 09:11 AM
Con Ed Requests Rate Increase To Protect For Future Storms
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Con Edison wants customers to pay more to protect itself from future superstorms.
The utility is requesting approximately $400 million from gas and electric customers next year.
Con Ed said the increase would be part of a $1 billion four-year protection plan.
The proposal includes building walls around low-lying facilities, burying overhead wires and making equipment capable of withstanding flooding.
The utility also plans to reconfigure its underground network.
Con Ed also plans to offer text messaging to communicate with customers, as well as more individualized restoration times.
For city customers, a rate hike would mean an average of $2.91 per month for electricity and an extra $2.67 for gas.
Con Ed said Hurricane Sandy cost the agency hundreds of millions of dollars.
The Public Service Commission would have to approve any rate increase.
It said the request will be analyzed.
The review takes almost a year, including public hearings.