Con Ed proposes electric rate hikePosted: Updated:
Con Edison is very close to raising its electric rates over the next few months much to the dismay of residents.
The utility giant says it still needs final approval but received some support from the state Public Service Commission earlier this week.
The commission-approved plans call for a 7 percent increase per month for customers come April. This comes after the 4.7 percent increase last year.
Con Ed revealed to the commission that it needs more money due to higher property taxes, hiring programs and infrastructure.
Con Ed issued a statement saying in part ?We recognize difficulties customers face with rising energy costs. We do our part to hold down delivery charges.?