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Citing "market prices for electricity and natural gas" and the "global impact" of the war in Ukraine, Con Edison has announced that New Yorkers should expect their monthly bills to increase this winter. Pair that warning with the recent news that the average Manhattan rent is now the highest it's ever been and you'll find yourself wondering—once again—why it is that we live here.
In a press release issued last week, Con Edison specifies that customers "using an average of 165 therms per month" can expect to pay about $460 a month from this November through March of 2023—that's a 32% increase over last year's average bill, which was $348.
Even more specifically, reads the press release, "a New York City residential customer using 300 kilowatt hours a month this winter will pay about $116, a 22% increase over last winter's $95, based on current projections."
In what honestly feels like a comedic feat, the company even took the time to share some tips on how to potentially save money on energy. These include setting thermostats at a lower, comfortable temperature (“each degree lower decreases heating costs”), making sure that vents aren’t blocked by furniture, swapping out window shades seasonally and replacing conventional light bulbs with LED bulbs.
Con Edison is also offering payment plans, hoping to help those that are struggling to pay their bills. Find more information about those right here.
"The supply cost has shot way up. It has to do with demand. It has to do with the supply," said Jamie McShane, director of media relations for Con Edison, in an official statement to NY1. "We don't make a profit on it at Con Edison. We buy it at the wholesale market and we basically charge customers what we pay for it without a profit. Unfortunately, it's gone up, and we want to make sure people know about it."
Given the company's track record, we're not surprised about the development. Just last year, Governor Kathy Hochul even called on Con Edison to "review their billing practices because we must take unified action to provide relief for New Yorkers, especially our most vulnerable residents." Clearly, that's gone nowhere.
Good luck to you all this winter, friends.