The critics are charged up.
Gov. Kathy Hochul’s Democratic rival is blasting Con Edison’s “outrageous” proposed price hikes as he urged the state’s utilities regulator to reject any enhance above the speed of inflation.
“Governor Kathy Hochul’s Public Service Fee should reject any proposed price hike that far exceeds the speed of inflation,” Bronx Rep. Ritchie Torres mentioned in a letter to the fee.
“Ramming a double-digit price enhance down the throats of New Yorkers, who’re reeling from years of inflation, would imply breaking the Governor’s promise of an `inflation refund’ and `no new taxes.’ “
The utility large is asking the PSC to jack up common electrical payments by 11.4% and ship fuel payments hovering 13.3% — a transfer that would imply a wallet-busting $1,848 extra per 12 months than clients paid in 2020.
“A price hike is a tax on New Yorkers.”
Hochul’s spending plan consists of $3 billion to fund ‘”inflation rebate” checks of $300 to single New Yorkers who make as much as $150,000 per 12 months and $500 for joint tax filers making as much as $300,000 per 12 months.
“At a time when New York is struggling to recuperate from the best inflation in additional than 4 a long time, the tried double-digit price hike reveals a profound disregard for the plight of most working-class and middle-class New Yorkers,” mentioned Torres, who’s mulling a run for governor in opposition to Hochul in a celebration major subsequent 12 months.
“The notion that New Yorkers needs to be anticipated to perpetually take in the shock of relentlessly rising prices is tone-deaf and out of contact. Since 2022, below Governor Kathy Hochul, the common Con Ed buyer has been paying $50 extra monthly for fuel heating.”
Torres cited a March 2024 report by Switchbox, a local weather suppose tank, claiming that one-quarter of New Yorkers can’t afford to pay their utility payments.
He additionally cited the case of Wardean Squire-Askew from the Bronx—who served within the US navy for 23 years and in NYC Well being + Hospitals for 43 years — and has allegedly been compelled to faucet into their emergency financial savings to pay the price of utilities.
The town has two state-sanctioned fuel monopolies — Con Ed and Nationwide Grid, and Torres mentioned the regulated utilities ought to have comparable pricing.
However Con Ed, on common, expenses 100% extra for fuel supply than Nationwide Grid, Torres mentioned.
“The distinction between what Con Ed expenses the ratepayers of the Bronx and what Nationwide Grid expenses the ratepayers of Queens is as a lot as 200%,” added the congressman.
Torres didn’t reply to follow-up questions on what he thinks are the fee drivers of New York’s excessive power prices, although the corporate itself has blamed prices partially on the state’s inexperienced mandates.
In line with Con Edison’s submitting with the PSC, the proposed price enhance is important to pay for “infrastructure funding” that features the push for clear power enlargement — with solely the price of property taxes a much bigger price driver.
Torres, co-sponsor of Rep. Alexandria Ocasio-Cortez’s proposed Inexperienced New Deal for Public Housing Act, might not be calling out the state’s inexperienced push however another native officers are.
Republican Councilwoman Vicki Paladino mentioned liberal insurance policies such because the closing of energy crops and electrification tasks have despatched prices hovering as Democrats “brag” concerning the initiatives.
“So far as they’re involved that is all only a reality of life now and we’re going to must reside with far more costly power,” Paladino mentioned. “Their harmful inexperienced packages are untouchable.”
In the meantime, Hochul’s camp mentioned the governor is on the case of the newest proposed hikes.
“Governor Hochul appointed new management on the Division of Public Service,” a Hochul spokesman mentioned. “The Public Service Fee has repeatedly labored to maintain utility charges low and fought outrageous company proposals to hike prices on customers.
“We encourage New Yorkers nervous about this price hike to precise their frustration on to the Fee throughout one in every of their many public hearings,” the governor’s rep added.
PSC Commissioner Rory Christian, in a response letter to Torres, mentioned the regulatory company is just not a patsy and can carefully evaluation Con Ed’s price hike requests. .
He acknowledged that utility charges have gotten “unaffordable for a lot of New Yorkers” and that whereas the PSC has labored with Hochul and the legislature to deal with the disaster, “the problem calls for our fixed vigilance.”
A Con Ed spokesman, requested about Torres’ criticism, mentioned, “Vitality supply charges fluctuate from utility to utility for a lot of causes, together with the extent of service, clients’ wants, the traits of the realm, property taxes and the timing of recent charges.”
“Con Edison’s funding plan proposal begins an 11-month evaluation course of, overseen by our state regulator, to evaluate essential upgrades for dependable service, excessive climate resilience, and the clear power transition. Affordability is central to our plan, which additionally proposes expanded outreach and assist for low- and moderate-income clients. Con Edison creates jobs, boosts native companies, and drives financial progress throughout the town, area, and state.”
Extra reporting by Aneeta Bhole