ALBANY, N.Y. (AP) - Consolidated Edison is asking state utility regulators
to allow a rate increase that will enable the New York-based power company to
raise $654 million.
The company says the hikes -- to run from April 2009 to April 2010 -- would
add about $6.18 to the average household bill and $120 to its average business
customer bills.
Con Edison also proposed a three-year plan that would increase average
monthly bills by $5.38 for households and $101 for businesses in each of the
next three years, raising $557 million annually.
The company says it needs the extra money to maintain and upgrade its power
system and cover rising fuel costs.
Last March, regulators approved a $425 million rate hike after the company
requested $1.2 billion.
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