NY electric bills could surge 12% this summer: officials

An air conditioner is viewed in a window at Brighton Beach in Brooklyn on August 20, 2015 in New York City.
An air conditioner is viewed in a window at Brighton Beach in Brooklyn on August 20, 2015 in New York City. Photo credit Spencer Platt/Getty Images

NEW YORK (1010 WINS) — As the spring season progresses and temperatures begin to heat up, officials are warning that New Yorkers may soon face higher utility bills this summer.

Live On-Air
Ask Your Smart Speaker to Play ten ten wins
1010 WINS
Listen Now
Now Playing
Now Playing

"New York, like every other state, continues to experience higher than normal commodity prices compared to where prices were several years ago, and that is expected to continue throughout the coming summer," said Public Service Commission Chairman Rory Christian.

Residential and commercial customers may experience higher commodity bills this summer than last due to an increase in capacity prices and obligations, Christian added.

A Con Edison representative said an increase could reach a range of 11 to 12% for its customers in New York City and Westchester.

Con Ed spokesman Allan Drury said the average monthly bill for a typical residential customer from June through September last summer was $104.05.

The New York Post reports that energy supply, taxes and delivery costs factor into about one-third of a customer's electric bill.

After Thursday's commissioner’s board meeting, the PSC said the "electric supply price increase can broadly be attributed to the global increase in natural gas prices."

"Overall, the statewide average residential full-service commodity rate is expected to be about 12 percent higher than last summer, but may vary depending on the customer’s location in the state," the PSC added.

The robust post-COVID economy as well as "international uncertainty" over energy supplies could also be a factor in price hikes.

In the long run, New York's Climate Leadership and Community Protection law — passed in 2019 — is expected to increase renewable energy, reduce demand on fossil fuels and decrease price volatility.

The PSC has also changed the way it accounts the cost of supplying electricity to customers in order to avoid a sticker shock customers saw last winter.

As for this summer, Con Ed and the PSC have assured customers there will be enough power to meet peak summer demand to avoid blackouts or brownouts.