Con Ed Should Not Be Allowed Rate Hikes When Reporting Large Profits
Why should Con Edison be allowed to raise our rates while reporting obscene profits that exceeded $1.5 billion in 2021? The company has $63 million in assets.
I have received numerous complaints from Greenburgh residents who are shocked at the enormous Con Ed bills we all are being asked to pay. Bills are at an all-time high. There is no end in sight for the high bills we can expect to receive. Con Edison plans an additional 11.2 percent increase in electric rates next year and an 18.2 percent increase in gas bills in 2023.
I believe that the state legislature pass should pass legislation directing the Public Service Commission (PSC) not to approve large rate hikes when the company is reporting excessive profits. Let Con Ed shareholders profit less so customers could have more affordable utility bills. Con Edison profits should be an important factor that determines the rates it charges us. I will be reaching out to the PSC, the governor and to area legislators. Please join me in contacting your lawmakers!
Paul Feiner
Greenburgh Town Supervisor
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