Quote:
Originally Posted by 2000cs
Those are pretty hefty. When were their last increases? What mandates exist there (renewables, energy efficiency spend) that could contribute to their revenue need?
I suspect they had large losses during covid due to payment moratoria, which they will never collect (at least some of). Experiencing inflation in key materials (wire, transformers) and labor. Fuel I presume is already a pass-thru so not a part of this request.
Also whether they are using a historic test year or forecast test year could play into the amount of increase requested. Forecast would include the full inflation hit. If historic, I’d bet they’ll have another request in a year or so, because they won’t get current inflation included.
|
Not sure of the mandates that would drive rate increases. I'm sure there are some plus I'm sure like the rest of us, employees need salary increases.
This is from 2020:
The State Public Service Commission voted 4-to-1 on Thursday to allow Con Ed to raise rates over the next three years.
Residential customers will pay 13.5 percent more for electric by 2022.
The electric rate will rise 4.2 percent this year, 4.7 percent next year, and four percent in 2022.
Every major business is benefiting from this so called inflation while the rest of us lose value in any savings we have.