Con Edison is seeking to raise electricity rates 11.6 percent -- 17 percent for a typical residential customer and 10.7 percent for a typical business. The rate proposal must be approved by the The New York State Public Service Commission. The commission recently released a report which blamed Con Edison's lack of maintenance and other issues as the cause for the wide-scale blackout in Queens last July.
Solar investements and other alternative energy sources looking better all the time. Time to payback should shrink dramatically if rates continue to climb in this manner.
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