NEW YORK, NY, May 04, 2009 (MARKET WIRE via COMTEX) -- Con Edison estimates summer electric bills will drop overall
compared with last year due to lower energy supply costs, but the
company urges customers to save even more money, and to save the
environment, by continuing to conserve energy.
Con Edison is estimating that a typical monthly bill for a New York
City residential customer using 350 kilowatt hours (kWh) per month
will average about $96.27 for the June-September period, down from
$104.23 a month for the same period last year, a 7.6 percent
Customers in Westchester, who typically use 500 kWh per month, can
expect to see their average monthly residential bills for the
June-September period drop to $118.15 from $127.13, a 7.1 percent
Medium-sized business customers in New York City using 10,800 kWh per
month also can expect to see lower overall bills this summer, seeing
an average monthly bill of $2,496.45, instead of $2,859.23, a 12.7
The lower summer bills projections come despite recent property
tax-increases and a special state assessment that's rising over 500
percent. While the Public Service Commission recently approved an
increase in the rate charged for the delivery of electricity, the
higher rate is largely to cover higher taxes and fees that the
utility must collect for the government.
Energy supply costs usually constitute the largest portion of Con
Edison customer bills. The energy supply costs are a direct
pass-through to the customer, with no mark-up by Con Edison. Energy
supply costs typically constitute between 50 to 60 percent of a
customer's summer bill, while approximately 20 percent is devoted to
city, state, and federal taxes and government imposed fees. The
balance of customer bills goes towards Con Edison costs associated
with delivering its customers' energy and maintaining its system.
"With energy supply prices dropping, we encourage our customers to
take this opportunity to make sure their homes are as energy efficient
as possible. They should consider purchasing Energy Star air
conditioners and appliances, installing compact fluorescent bulbs,
checking out our remote thermostat program and, in general,
conserving energy as much as possible," said Marilyn Caselli, senior
vice president of Customer Operations."
Con Edison offers several tips and Web site links to help customers
learn how to use energy wisely and manage their bills:
reduce the amount of energy you use. Visit
www.conEd.com/thepowerofgreen for conservation tips.
enroll in the
company's Level Payment Plan and spread payments evenly over the
year. Visit www.conEd.com/customercentral.levelpayment.asp
choose your own energy supplier with Power Your Way. Visit www.poweryourway.com.
Con Edison offers extensions for customers who are finding it hard
to pay. Visit www.conEd.com/customercentral/paymentextensions.asp.
Con Edison is a subsidiary of Consolidated Edison, Inc. (NYSE: ED),
one of the nation's largest investor-owned energy companies, with
approximately $14 billion in annual revenues and $33 billion in
assets. The utility provides electric, gas, and steam service to
more than 3 million customers in New York City and Westchester
County, New York. For additional financial, operations, and customer
service information, visit Con Edison's Web site at www.conEd.com.
SOURCE: Con Edison Co. of NY, Inc.