NY PSC Freezes Con Edison Electricity T&D Rates for 2016
New York, NY – On January 30, 2015, Con Edison filed for an electric rate increase ($368.1M revenue increase, 6.5% Y-o-Y for commercial properties) to become effective January 1, 2016. After the rate case filing, the Department of Public Service Staff, Con Edison, the NYECC and other parties participated in confidential settlement negotiations. A 2015 Joint Proposal to extend the current two year electric rate plan by one year (through December 31, 2016) was filed on April 20, 2015 and was approved by the PSC on June 17th, effectively “freezing” electricity T&D base rates at 2014 levels. Steam and natural gas rates were effectively “frozen” for 2014, 2015, and 2016 as per the latest steam and gas rate cases. We expect Con Edison to file for rate increases for all three commodities effective as of January 2017.
The NYECC was instrumental in negotiating these settlements. Over the past 10 years, the New York Energy Consumers Council, the largest energy customer advocacy organization in New York State, has helped consumers avoid over $6 billion in electric, steam, and natural gas rate increases and associated costs. Relying on membership dues, the NYECC and its attorney intervene in the public rate making process on behalf of consumers in the Con Edison territory. For more information regarding NYECC membership benefits and exclusive access to critical utility information, please reach out to Diana Sweeney at Diana.Sweeney@NYECC.com, call 212-616-5118, or visit the NYECC’s website at nyecc.com.
Andy Anderson, LEED AP O+M, CMVP
1261 Broadway, Suite 510
New York, NY 10001