Con Ed Seeks Rate Increase in Westchester

Consolidated Edison is seeking state approval for a rate increase for Westchester customers that would take effect in January 2016, the power company announced Friday.

The proposed 3.2 percent increase (7.2 percent for delivery) would be the company’s first rate hike since April 2012. The increase would increase revenue by $368 million and would “support system reliability, storm hardening, better technology and online service enhancements,” officials said.

From the company’s statement:

A typical bill for a Westchester residential customer using 450 kWh per month would rise from $114.98 to $119.68, a 4.1 percent increase (7.2 percent for delivery). For a typical commercial customer using 10,800 kWh per month with a peak demand of 30 kW, the monthly bill would rise from $2,173.08 to $2,236.71, a 2.9 percent increase (6.5 percent for delivery).

“This plan will adequately fund investment for the enhanced security, reliability and resiliency of the electric delivery system,” said Craig Ivey, president of Con Ed, in a statement. “It also is designed to support better service through an improved website with greater mobile functionality and an expanded menu of self-service transactions, increasing accessibility for customers. We want to implement new programs and technologies while mitigating the impact on customer bills.”

Related:

• Update: Power Restored to Virtually All ConEd Customers in Bronxville
• Con Ed Bills Spike, Shock Consumers
• Con Ed Priorities Will Be Emergencies, Power Problems

More from the company’s announcement:

[Ivey] cited the company’s implementation of a new work management system in Electric Operations that is expected to reduce overall costs by $45 million annually. The system improves crew efficiency on customer and system projects; processes work orders electronically, and facilitates the dispatch and coordination of crew activity through mobile technology.

The rate plan seeks to further strengthen the company’s infrastructure in targeted areas, and addresses increased power demand associated with the current economic load growth in several areas, including Downtown Brooklyn and Manhattan’s West Side.

Con Edison also will be in the last year of a four-year, $1 billion storm hardening plan in 2016. The company will continue its installation of submersible transformers that can withstand flooding underground and special overhead equipment that will minimize the duration of outages and the number of people affected.

The rate proposal also addresses transmission system upgrades, physical security improvements at major substations, and strengthening cybersecurity measures.

The increase also would help pay for “the start of a multi-year smart meter plan.” Smart meters come equipped with two-way communication systems, and customers would be able to “determine how they are using energy at any given time, helping them to better manage usage.” Additionally, the smart meters will improve power outage detection and provide other technological advancements.

Go here or to www.coned.com/2015-rate-filing for the rate filing and additional information.

Con Edison is a subsidiary of Consolidated Edison, Inc. [NYSE: ED], one of the nation’s largest investor-owned energy companies, with approximately $12 billion in annual revenues and $41 billion in assets. The utility provides electric, gas and steam service to more than three million customers in New York City and Westchester County, New York. For additional financial, operations and customer service information, visit us on the Web at www.coned.com, at our green site, www.coned.com/waystosave, or find us on Facebook at Con Edison.

Subscribe to a free email newsletter and news alerts:

BEDFORD-KATONAH • BRONXVILLE-EASTCHESTER-TUCKAHOE • CHAPPAQUA-MOUNT KISCO • HARRISON • LARCHMONT-MAMARONECK • NANUET • NEW CITY • NEW ROCHELLE • NYACK-PIERMONT • OSSINING-CROTON • PEARL RIVER • PEEKSKILL-CORTLANDT • PELHAM • PORT CHESTER • PLEASANTVILLE-BRIARCLIFF • RIVERTOWNS • RYE • SCARSDALE • SOUTHEST-BREWSTER • TARRYTOWN-SLEEPY HOLLOW • WHITE PLAINS • YORKTOWN-SOMERS