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NY electric bills expected to jump 12% this summer

NY electric bills expected to jump 12% this summer

New Yorkers preparing to install air conditioners for the hot summer months are going to get burned with higher electricity costs — a projected 12 percent hike over last summer’s monthly bills, utility officials warned Thursday.

The summer sticker shock comes on top of the big hikes in utility bill costs over the winter.

“New York, like every other state, continues to experience higher than normal commodity prices compared to where prices were several years ago, and that is expected to continue throughout the coming summer,” said Public Service Commission Chairman Rory Christian.

A Con Edison representative said the increase for its customers in New York City and Westchester could be “in the range” of 11 to 12 percent.

The average monthly Con Ed bill for a typical residential customer from June through September last summer was $104.05, said Con Ed spokesman Allan Drury.

The energy supply, delivery costs and taxes each account for about one-third of each customer’s electrical bill.

The increase in energy comes during a country-wide jump in consumer prices.
Eli Hartman/Odessa American/AP

Con Ed and the PSC both assured the public there will be enough power to meet peak summer demand to avoid brownouts or blackouts.

The PSC said a more robust post-pandemic economy and “international uncertainty” regarding energy supplies are contributing factors to the price hikes.

“The electric supply price increase can broadly be attributed to the global increase in natural gas prices,” the PSC said following a commissioner’s board meeting Thursday.

“Overall, the statewide average residential full-service commodity rate is expected to be about 12 percent higher than last summer, but may vary depending on the customer’s location in the state,” the PSC said.

The energy supply costs are the highest since 2014.

Long term, the PSC claimed the state’s green new deal — the Climate Leadership and Community Protection law — will increase the use of renewable energy and reduce demand on fossil fuels and reduce price volatility.

In a related action, the PSC changed the way Con Edison calculates the cost of supplying electricity to customers to help prevent the sticker shock that ratepayers saw last winter.

gov. Kathy Hochul and the legislature included a $250 million fund in the state budget approved last month help low-income residents catch up on utility arrears accumulated during the pandemic.

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