This April marks the one year anniversary of New York State’s Public Service Commission decision to allow Con Edison to increase the price of electric service by roughly 4% annually for the next three years. These rising power costs come at an unwelcome time for residents of New York City, who are also faced with the prospects of yet further cost increases as a result of a recent FERC (Federal Resource Regulatory Commission) order which will require NYISO to increase capacity prices to include taxes. 

A revision to New York City’s current tax codes could potentially stave off this order, and this is currently the subject of much discussion amongst Mayor Bloomberg and his staff.