NY Regulators Approve Con Edison Rate Freeze

Thursday, Feb 20, 2014  |  Updated 5:59 PM EDT
View Comments (
)
|
Email
|
Print
NY Regulators Approve Con Edison Rate Freeze

New York utility regulators have approved freezes on electricity, natural gas and steam delivery rates for Con Edison customers.

The state Public Service Commission says the decision covers the charges costumers pay for the delivery of electricity and gas, not the cost of the commodities themselves. Electric rates will be held flat for two years and gas and steam rates for three years.

Con Edison initially asked for an 8 percent increase in electricity delivery rates and a 2.5 percent increase for gas delivery.

The company is also investing $1 billion over four years to make its systems more resilient during extreme weather like Superstorm Sandy.

PSC Chairwoman Audrey Zibelman says Thursday that the combination of flat delivery rates and the infrastructure investment represents the best of two worlds.

Get the latest from NBC 4 New York anywhere, anytimeiPhone/iPad App | Twitter | Facebook | Email Newsletters Send Us News Tips | Google+ | Instagram | RSS

Get the latest headlines sent to your inbox!
View Comments (
)
|
Email
|
Print
Leave Comments
What's New
21st Century Solutions
The NBCUniversal Foundation is partnering... Read more
Follow Us
Sign up to receive news and updates that matter to you.
Send Us Your Story Tips
Check Out