Con Edison Regulatory Rate Review
We want to give you greater control over your energy use and bills, make our electric system more reliable, and help integrate new clean energy technologies into the energy grid.
To pay for these improvements, Con Edison is seeking a public regulatory review to approve a rate increase. The funding will also help to accelerate the company’s gas main replacement program, enhance the safety of the gas system, and allow more customers to convert from oil heat to natural gas.
The Public Service Commission will review the proposal as part of the public review process, and if approved, this increase will take effect January 1, 2017. It will be the company's first electric rate increase since April 2012, and the first gas rate increase since October 2012.
A typical bill for a New York City residential customer using 300 kilowatt hours (kWh) would rise from $78.52 to $82.63 per month, an increase of 5.2 percent (8.4 percent on delivery); a typical bill for a Westchester residential customer using 450 kWh would rise from $109.64 to $115.89, a 5.7 percent increase (9.5 percent for delivery). A typical commercial customer using 10,800 kWh per month with a peak demand of 30 kW would see a bill increase from $2,042.29 per month to $2,118.62 per month, or a 3.7 percent increase (7.7 percent on delivery).
A typical residential customer using natural gas for heating would see an average monthly bill increase from $142.31 to $153.30, an increase of 7.7 percent (11.5 percent on delivery). Businesses using an average of 327 therms per month would see an average bill increase from $355.17 to $372.03, an increase of 4.7 percent (8.4 percent on delivery). A typical residential customer using natural gas only for cooking would see an average monthly bill increase from $26 to $29.75, an increase of $3.75 or 14.4 percent (16.3 percent on delivery).
The proposal seeks to increase electric delivery revenues by $482 million, including $140 million for infrastructure investments needed to maintain and enhance reliability. This increase will also help us to incorporate new technologies and local generation into our delivery system.
Con Edison seeks to increase its gas delivery revenues by $154 million, including $77 million that will go toward speeding up our replacement of cast iron and unprotected steel gas mains. By replacing 100 miles of gas main each year, up from the current 65 miles a year, we’ll be able to finish the entire project a decade faster—in 20 years instead of 30.
The plan also would let us continue monthly patrols of our gas delivery system, and continue pilot programs testing residential methane detectors.
You’ll be getting a new electric or gas smart meter installed between now and 2022. Smart meters offer two-way communication between us and your home or business. You’ll be able to see real-time data about how much energy you’re using through an online portal. We’ll be able to read your meter remotely, so no more waiting for a meter reading, and no more estimated bills. If your power goes out, we’ll know right away, so we can get you back up and running sooner. Plus, smart meters will make it easier for you to integrate solar panels and other local generation into our energy grid.
Also, to save you, and us, money, we’re thinking outside the box and turning toward innovative solutions like energy efficiency programs and solar installations now instead of building expensive new infrastructure to meet future growth in demand. For example, in parts of Brooklyn and Queens, we’re deferring a $1 billion substation in favor of a $220 million program to install more-efficient lighting and other improvements in homes and businesses, as well as universal battery storage.
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