March 2015, Vol. 70, No. 3
Newsline
Con Edison Pursues New Rate Plan
Consolidated Edison Company of New York Inc. (Con Edison) is seeking an electric delivery service rate increase to support system reliability, storm hardening, better technology and online service enhancements beginning Jan.1, 2016. It would be the company’s first rate increase since April 1, 2012.
The plan seeks a revenue increase of $368 million, resulting in an average bill hike of 3.2 percent (7.2 percent for delivery), for customers throughout the company’s New York City and Westchester service area.
“This plan will adequately fund investment for the enhanced security, reliability and resiliency of the electric delivery system,” said Craig Ivey, president of Con Edison. “It also is designed to support better service through an improved website with greater mobile functionality and an expanded menu of self-service transactions, increasing accessibility for customers. We want to implement new programs and technologies while mitigating the impact on customer bills.”
Ivey cited the company’s implementation of a new work management system in Electric Operations that is expected to reduce overall costs by $45 million annually. The system improves crew efficiency on customer and a system project, processes work orders electronically, and facilitates the dispatch and coordination of crew activity through mobile technology.
The rate plan seeks to further strengthen the company’s infrastructure in targeted areas, and addresses increased power demand associated with the current economic load growth in several areas, including Downtown Brooklyn and Manhattan’s West Side.
Con Edison also will be in the last year of a four-year, $1 billion storm hardening plan in 2016. The company will continue its installation of submersible transformers that can withstand flooding underground and special overhead equipment that will minimize the duration of outages and the number of people affected.
The rate proposal also addresses transmission system upgrades, physical security improvements at major substations, and strengthening cybersecurity measures.
A key part of the rate-proposal is the start of a multi-year smart meter plan that provides an innovative introductory blueprint for the service area’s energy future. Smart meters with two-way communication systems are playing a critical role shaping the future electric grid as new energy services and renewable technologies are integrated.
Comments