Crain’s: Hefty utility increases set to hit New Yorkers’ wallets in August
July 21, 2023 The Crain’s New York Business article discusses the approval by the state Public Service Commission of significant rate increases for Con Edison’s electric and gas customers in New York City and Westchester County, starting in August. These hikes are part of a plan to fund improvements to service, enhance the resilience of the energy grid, and support the state’s transition to renewable energy. However, the decision has faced criticism for potentially locking in investments in fossil fuel infrastructure, which critics argue contradicts New York’s climate law requiring a full transition to renewable energy by 2040. The increases have sparked concern among environmental advocacy groups and city council members, who argue they place an undue burden on New Yorkers, especially in light of the state’s ambitious clean energy goals.