Good Morning, Brooklyn: Wednesday, May 25, 2022
TESTIMONY FILED ON CON ED’S PROPOSED RATE HIKE: The Public Utility Law Project of New York (“PULP”) and a coalition of elected officials and environmental intervenors in the Con Edison rate case have filed initial testimony on the Company’s massive proposed rate hike, as part of their response to thousands of complaints from vulnerable customers. The testimonies (found in the rate case’s dockets, Case Nos. 22-E-0064 and 22-G-0065) pertain to Con Edison’s initial proposal from late January to increase its electric delivery revenues by $1.2 billion (a 17.6% increase), its gas delivery revenues by $500 million respectively (a 28.1% increase), and its return on equity (or, how efficiently the company generates profits) by 10 percent.
The environmental intervenors — including Alliance for a Green Economy (“AGREE”), SANE Energy Project, and We-Act for Environmental Justice — argue that the rate increases are uncalled for, given the “unprecedented and disproportionate economic harms and hardships the pandemic continues to have on New York City residents, and the significant economic harms customers experienced due to the unprecedented “bill surge” of January to April.
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