Electric bills could increase in New York - DC News FOX 5 DC WTTG

Electric bills could increase in New York

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Get ready to dig deep, New York. That flip of the switch could get more expensive. The energy regulatory arm of the federal government recently decided to eliminate price breaks for some power plants.

That discount was passed down to the consumer, by way of Con Edison or the New York Power Authority, in the form of cheaper electricity rates.  

It is unknown how much the average bill will increase, but early estimates suggest it will be $9 a bill. More of your tax dollars will also go towards keeping the city turned on.

In all, $500 million will be generated by FERC's ruling; $300 million of that just  from city customers.

NYPA quickly responded: "...results in the unwarranted transfer of wealth from local and state governments and consumers to existing power plant owners."

It is not a done deal just yet. The power companies, the city of New York and some state agencies like the Office of General Services are petitioning the federal government to reconsider its decision.

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