The average electric and gas bill are expected to increase by over $14 and $17 next month, respectively.
Con Edison rate hikes are set to take effect next month. The company says the hikes are necessary to cover increased costs. FOX 5 NY's Linda Schmidt breaks down just how much more you will have to pay, and what you can do to save some money.New Yorkers are bracing themselves for yet another ConEd rate hike set to take effect next month. "It's going to push people to the brink.
The changes in rates are significant, with the average monthly electric bill projected to increase by over $14 next month. This will be followed by an additional $7 increase in January 2024 and nearly $2.50 in January 2025. For gas bills, the burden is equally high, with an average increase of $17 expected next month, followed by nearly $15 in January 2024 and another $15 in 2025."2.5 billion dollars of that we’re paying is New York City property taxes in this year alone.
Con Edison also claims that the increases are essential to meet the state's energy efficiency mandates. "Con Ed will say ‘This is for this, this is for that.’ What it fundamentally is about is increasing profit margins for the company," said Assemblyman Mamdani.that I have read and agree
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