The images of the devastation from Superstorm Sandy will forever be in our minds. The countless stories of people without electricity and no idea when it would be restored made us realize how fragile our energy grid is. To protect against future storms, Con Edison plans to build a stronger infrastructure.
Con Edison plans to spend $1 billion on upgrading to flood-proof equipment, reinforced poles/wires and underground powerlines. Some of the money will come from federal funding. This year Con Edison is expected to spend $250 million on protection measures.
How does it affect customers’ electric bill?
Con Edison is already raising rates due to the storm damages but this does not include upgrades to its equipment. Customers will see an increase in transmission and distribution charges on their bill to pay for the much needed improvements.
How do you feel about Con Edison’s improvement plans? Is it fair that you are going to be paying for them? Leave a comment and let us know.
Donny has been writing about the deregulated energy markets since early 2007. His knowledge has helped consumers lower their electricity cost.