New York News

Electricity rates expected to drop this summer

Tuesday, May 29, 2012
Consolidated Edison Company of New York

Consolidated Edison Company of New York

Electricity rates for many New York city residents will be dropping, beginning June 1.

Con Edison says bills this summer will be, on average, 1.5 percent lower than last year.

In New Jersey, customers will see rates fall anywhere from 3 to 6 percent, depending on the utility.

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A drop in the price of natural gas, used in power generation, is the reason.

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