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New Yorkers Should Brace for Higher Electric Bills, Con Ed Says

Bloomberg logoBloomberg 5/20/2020 Gerson Freitas Jr.

(Bloomberg) -- New Yorkers will pay higher electric bills this summer as they work from home because of the pandemic, Consolidated Edison Inc. said.

Typical monthly residential bills in the city will rise nearly 10% from a year ago to about $110 between June and September, the utility said in a statement. That estimate is based on monthly consumption of 350 kilowatt-hours.

In addition to people staying home more and blasting air conditioners, Con Ed says the forecast for higher bills stems from increasing costs from power suppliers. Plus forecasters expect the summer to be hotter than normal. The utility has suspended disconnecting power for customers who don’t pay their bills and is waiving late fees in response to surging unemployment from the virus.

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