The New York State Public Service Commission (PSC) has approved Con Edison’s request for a rate increase on both electricity and natural gas, but at lower increases than Con Edison originally applied for.
The three-year rate change will have large commercial customers seeing the following increases in their delivery costs.
2020: 2.4% increase
2021: 6.5% increase
2022: 5.6% increase
The rate increase will be primarily used for two purposes. First, it will fund investments in system-wide resiliency projects that aim to deal with more frequent extreme weather events. Second, it will be used to build infrastructure that helps transition the grid away from fossil-fuels and toward renewable sources. Con Edison says that this increase is essential for helping New York State's Reforming the Energy Vision (REV) plan.
For additional information on how this increase will affect your properties specifically, please reach out to your dedicated Stanwich Energy Advisor.
For additional details on the rate increase, please see the official PSC approval here.