Con Edison Increases Gas Rates by $187.2 Million Beginning January 1, 2024
On July 20, 2023, the New York Public Service Commission (“PSC”) approved a three-year gas rate plan for Consolidated Edison Company of New York, Inc. (“Con Edison” or the “Company”) that is designed to increase delivery revenues annually commencing January 1, 2023. The second rate year increase is $187.2 million, inclusive of gross receipts tax, applicable to customers served under the Company’s Schedule for Gas Service, P.S.C. No. 9 – Gas (the “Gas Tariff”). The effect of the rate changes, including estimated changes in certain surcharges, in the second rate year equates to an approximate percentage increase of 8.6% on a delivery revenue basis or 5.7% on a total bill basis. The rates and tariff changes for the second rate year will become effective on January 1, 2024. In addition, a Delivery Revenue Surcharge will continue to be in effect through December 31, 2025, to recover revenue under-collections resulting from the seven-month extension of the rate case suspension period.
The following tables show the effect of the gas rate changes on selected monthly bills of customers served under Service Classification (“SC”) 1, 2 and 3 of the Gas Tariff in the second rate year:
If a firm service customer receives a bill that includes periods before and on and after January 1, 2024, rates will be prorated depending on the number of days of service before and on and after that date. The gas bills shown in the tables above assume normal weather. In addition to gas delivery charges and other applicable surcharges, except the Delivery Revenue Surcharge, these bills include other projected charges, such as gas supply charges, and the average revenue taxes in effect for the various municipalities. Sales taxes are not included in these tables. Actual customer bills will vary depending upon: whether the gas supply is purchased from the Company or from an Energy Service Company; and the customer’s gas usage.
The minimum monthly charges for the firm service classes were increased, the billing and payment processing charge remained the same and new percentage rate reductions will apply to customers who commence service under the Excelsior Jobs Program on or after August 1, 2023. In addition to the firm rate changes, Interruptible Delivery Rates under SC 9 Rate B and SC 12 Rate 1 have been updated to reflect the rates in effect for the second year of the Gas Rate Plan. Furthermore, the Factor of Adjustment for the second rate year has been updated to 1.0338.
The Company’s rate schedule can be viewed on the PSC’s website at www.dps.ny.gov or the Company’s website at www.coned.com. The tariff filing can be viewed on the PSC’s website by searching under Case 22-G-0065. If you do not have access to the Internet, you can view complete copies of Con Edison’s tariff amendments at the PSC’s office at 90 Church Street, New York, New York 10007 and at offices where applications for Con Edison service may be made.