New York Daily News July 11, 2008
Friday, July 11th 2008, 4:00 AM
M. Roberts for News
Thanks to the surging price of natural gas and oil, Con Ed's residential customers will be hit with a record rate increase this summer.
Get ready for a summer jolt from Con Ed.
Residential customers will pay 22% more for electricity this year than last summer - one of the biggest year-to-year increases on record, the utility giant predicts.
And it's not all the fault of Con Ed - the company New Yorkers love to hate.
The surging price of natural gas and oil, which has doubled in the past year, is behind most of the huge hike, the utility says.
Business customers will be hit with a 25% increase, according to a Con Ed forecast obtained by the Daily News.
As recently as June 5, Con Ed projected the average summer month's bill would increase 13% over last year, but in the past four weeks alone, crude oil prices have soared by more than $20 a barrel.
News of yet another wallet-busting increase hit New Yorkers hard.
"All our rates are going up - and our blood pressure is going up," groaned Anthony Dunbar, 37, a Queens employment counselor.
Man this is going to kill me this summer. I have to keep the air conditioning blasting and all of the lights on so my bill is going to be crazy. I will have to sell a lot of bloomers to make up for a 25% increase.
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4 comments:
I installed A/C this year...so I get to pay through the nose for the A/C and get to pay an extra super bonus for the power bill.
yay?
The fuel increase is really going to hurt this year. I don't know how bad it is going to be, but I know it is going to be bad.
Yeah.
Yeah.
Time to cut back on...everything, I guess.
Back home in Indiana, we never had air conditioning. When it got hot we just started taking clothes off. I remember one summer when it got over 100 degrees and everyone was wearing nothing but underwear.
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