NYC Con Edison Bill Increase by 12% Summer 2022

The need for clean energy is more urgent than ever – not just for the planet, but for our wallets too. Last month, Con Edison announced that it expects to see electric bills increase by 12% this summer. Though the rise in supply costs is largely out of our control, there are ways we can manage our costs.

Con Edison’s Rate Increase Notice to Their Customers 

In June, Con Edison sent an alert out to all of its customers, warning of an expected utility bill increase of 12% for New York City residents. 

In this alert, ConEd stated that “one key reason is rising energy supply costs,” due to global supply chain issues, and that there are some ways to manage your utility costs this summer.

Is anyone to blame for the increasing electric bills?

Some increase in electricity costs during the summertime is to be expected – but this increase is much greater than usual. The reason for this goes beyond blasting that air conditioner!

Con Ed’s alert said that supply chain issues are to blame, explaining that disruptions “have driven up the already high cost of natural gas, which is burned to produce electricity.” This comes just six months after NYC residents saw their Con Ed bills increase in January and February for the same reason.

Unfortunately, energy costs have been on the rise across the country for several months due to the war in Ukraine. If you drive a gasoline-powered vehicle, you’ve likely already been feeling these effects at the gas station. 

When it comes to your Con Edison bill increase, the issue is two-fold: one, around 70 percent of NYC’s electricity is powered by natural gas. Two, much of our supply of natural gas comes from international sources, including Russia. So as long as our grid is powered by the burning of imported fossil fuels, our electric bills will continue to fluctuate with the global energy market.

Will my energy bills continue increasing?

We wish we could tell you that these electric rate increases are temporary. But the cost of electricity is on the rise across the board, and major rate hikes are bound to happen again. The price of natural gas will always rise and fall with supply and demand. 

On top of rising supply costs, Con Ed’s been raising its delivery rates too. In 2020, the Public Service Commission approved a three-year incremental increase in electric rates totaling 13.5 percent. In February of 2022, Con Ed proposed another delivery rate hike of 11.2% poised to take effect on January 1, 2023. The reasoning behind these increases is to fund infrastructure upgrades and invest in clean energy initiatives. 

But if you’re a building owner, there’s a better way to invest in clean energy. Take control of your energy costs by installing rooftop solar. Brooklyn SolarWorks can help – get in touch today.

Con Ed’s Payment Plans and Assistance

If you’re a renter in NYC or investing in clean energy is out of reach for you, there are some ways that you can manage your electricity costs. Con Edison offers a few financial assistance programs for customers needing help paying their bills:

• Payment Agreements allow you to pay off your outstanding balance in no-fee, monthly installments.
• Con Ed’s Energy Affordability Program grants discounts to low-income customers who receive benefits from certain government programs, such as HEAP and SNAP.
• Enrolling in a Level Payment Plan allows you to spread your monthly payments out evenly over 12 months to avoid seasonal fluctuations.

Though supply costs are out of your control, there are a few ways to mind your individual usage too. Using energy efficient appliances and avoiding peak hours may help to limit your electricity costs this summer.

Why It’s the Right Move to Install Solar Energy Now

As a homeowner in NYC, the best way to avoid rising utility rates is to invest in renewable energy. Rate hikes are bound to continue in the future, due to both the volatility of the global energy market and Con Edison’s own infrastructure upgrades. 

By installing your own residential solar energy system, you’ll be able to take advantage of reliable clean energy right away – no waiting on ConEd to make its system upgrades, and no unexpected rate hikes in the meantime. Rooftop solar gives you energy independence. 

Why pay Con Ed for clean energy in the future, when you could produce it in your own home right now?

Moreover, home solar in NYC is more affordable than ever, with solar tax incentives at their peak and low-cost solar financing options available.

Solar is the Solution

If you’re tired of the shock and inconvenience of Con Edison bill increases, solar energy is the solution. Brooklyn SolarWorks has been helping New Yorkers make the switch to solar for over seven years, and we can help you too. Get in touch with us today!