Data: Con Ed 2012 Rates Highest Of Any Major U.S. Utility
NEW YORK (CBSNewYork/AP) – Consolidated Edison’s 2012 residential electricity prices were the highest of any major U.S. utility, according to newly released federal data.
The data from the U.S. Energy Information Administration shows that Con Ed’s 2.1 million residential customers in New York City and Westchester County paid an average of 25 cents per kilowatt hour in 2012.
That’s more than twice the national average price of 12 cents per kilowatt hour.
Con Ed said in a statement that more than 25 percent of the bill consists of government-imposed taxes and fees.
The company is asking for a rate increase to pay for improvements in the wake of Superstorm Sandy.
Con Ed said it wants to spend $1 billion to protect critical equipment from future storms. The first $400 million installment will mean a rate hike of about 3 percent.
If it is approved by the Public Service Commission, the new rates will take effect next January.
Long Island Power Authority customers also pay some of the country’s highest rates.
LIPA’s 1 million residential customers paid 19 cents per kilowatt hour last year. The utility has said there will be no rate increase in its 2014 budget.
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