New York City and Westchester residents will face additional rate hikes as Con Edison increases home gas bills by 20% over three years and electric bills by 12% to fund Governor Kathy Hochul’s green-energy initiatives, which involve developing new transmission lines to support wind and solar power plants.
The use of oil and gas for heating and cooking is being restricted, and residents will be required to pay more for electric stoves, which are expensive to power.
Moreover, electric heat will cost more than gas heat. While low-income residents are offered $200 million in utility-bill discounts, the rest will have to bear the burden of higher bills.
Additionally, Con Ed expects New York City residents to pay more due to Local Law 97, which requires city buildings to cut emissions.
The Hochul scheme’s goal of making New York a carbon-neutral state will require a massive infrastructure investment of over half a trillion dollars, most of which will be funded through utility bills.
However, this approach will be impractical and unaffordable in the long run, and New Yorkers will have to endure higher bills until reality sets in.
»Con Edison increases home gas bills by 20% over three years«
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