Greenburgh Insider: Con Ed reported $1.5 billion in profits --and they are raising our rates!

 

Con Ed shareholders should profit less.

Why should Con Ed be allowed to raise our rates while reporting  obscene profits that exceeded $1.5 billion dollars in 2021? The company has $63 million in assets.

In recent days I have received numerous complaints from Greenburgh residents who are shocked at the enormous Con Ed bills we all are being asked to pay. Bills are at an all time high  There is no end in sight for the high Con Ed bills we can expect to receive. Con Ed plans an additional 11.2% increase in electric rates next year and an 18.2% increase in gas bills in 2023.

I believe that the New York State Legislature pass legislation directing the Public Service Commission not to approve large rate hikes when the company is reporting excessive profits. Let Con Ed shareholders profit less so customers could have more affordable utllity bills. Profits of Con Ed should be an important factor  that determines the rates Con Ed charges us.  I will be reaching out to the PSC, the Governor and to area Legislators.  Please join me in contacting your lawmakers!

PAUL FEINER
Greenburgh Town Supervisor