Con Edison Utility Company
Contents
- 1 Con Edison Utility Company
- 2 Con Edison Power Outage
- 3 New York Energy Deregulation
- 4 Con Edison Basic Service Charge
- 5 Understanding the Electric Bill
- 6 Con Edison Renewable Energy
- 7 Selecting an Electric Supplier
- 8 Frequently Asked Questions
- 9 When Will I be Switched Over?
- 10 Are There Additional Fees?
- 11 Is There a Cancellation Fee?
- 12 What Happens at the End of my Term?
- 13 New York Utilities
- 14 Clean Energy
- 15 Electricity Rates
Con Edison is a utility company in New York that is responsible for maintaining and managing the power lines that deliver electricity to over ten million customers. The utility company covers New York City, Bronx, Brooklyn, Manhattan, Queens, Staten Island, Westchester, and Westchester County. Thanks to energy deregulation, the responsibilities of the utility companies became unbundled, opening the door to outside energy suppliers to provide generation services to New Yorkers. The increase in the number of energy suppliers in the electricity market has helped push down energy prices in the state.
Con Edison Power Outage
If you change electric suppliers and experience a power outage, then you will need to contact Con Edison. The utility company is responsible for fixing all power outages within its service area.
- Con Edison Customer Contact Number: 1-800-752-6633
New York Energy Deregulation
In 1996 New York Public Service Commission (PSC) passed the Competitive Opportunities Case which deregulated the energy retail market in 1998. Before energy deregulation, the utility companies had a monopoly over the generation, transmission, and delivery of power in their respective service areas. Due to the passage of the Competitive Opportunities Case, the main responsibility of Con Edison became to deliver power from the utility to its customers. Deregulation allows New Yorkers the option to choose another electric supplier and lower the supply rate on the electric bill.
Con Edison Basic Service Charge
Con Edison is required to provide customers a basic service rate to those that decide not to switch over to an alternate electric supplier. The basic service rate is often referred to as the price to compare. This rate is a variable and changes throughout the year. Customers can use the price to compare while shopping for a new energy supplier. If an energy supplier is advertising a rate that is lower than the basic service rate, then the customer will save money by switching.
Understanding the Electric Bill
The electric bill is split between two main charges that include the delivery and supply charges.
- Delivery Charge – The delivery charge represents the regulated section of the electric bill. This is the cost to deliver the power from the point of generation to the customers, whether it’s a home or business. This charge is overseen by the Department of Public Service. A customer will not be able to switch to another utility company for delivery services.
- Supply Charge – The supply charge represents the deregulated section of the electric bill. This is the cost to generate the electricity the customer is estimated to use during a period. Deregulation allows the customer to change electric suppliers and lower the supply rate on the electric bill.
Con Edison Renewable Energy
Con Edison is committed to transitioning towards the use of clean energy sources and eliminating the use of fossil fuels by 2040. To help with the reduction of fossil fuels the utility company plans to invest $1.5 billion by 2025 on energy-efficient programs. These programs will be designed to help customers invest in energy-saving products by making them more affordable. This will include investments in electric vehicles, solar panels, and low-carbon heating options. ConEdison is currently the seventh-largest solar-power producer in the world and second in the United States. The company has solar panel and wind projects in 19 states and is aggressively working to expand its operations.
Selecting an Electric Supplier
If you’re planning on moving into the Con Edison service area, then you should take advantage of living in a deregulated electricity market and lower the supply rate on the electric bill. Customers that shop around for a competitive electric supplier can save an average of 10-20%. There are well over a dozen energy suppliers competing for your business in New York. This is good news for customers as the suppliers have to cut down on margins to win your business. This high level of competition is what helps push down prices in the state.
With all the energy suppliers competing for your business, how do you know which one is right for you? Determining the right energy supplier may have to do with more than just the price you pay. Of course, everyone wants the lowest price to save the most on the energy bill, but what if the lowest price doesn’t match up with your wants? More energy suppliers are offering customers energy plans that are 100% renewable. However, these plans often come with a premium.
Below are common questions that are asked by customers when shopping for an energy supplier.
Frequently Asked Questions
When Will I be Switched Over?
When you sign up for a new energy plan, then you will be switched over on the next available meter read. However, it typically takes a few days to process your enrollment. This means if you sign up just a day or two before your meter read, then you might miss it and not be switched over until the following month. A meter read cycle is around every 30 days.
Are There Additional Fees?
If you’re choosing an electric supplier from a price comparison website, then more than likely the lowest rate will be on top of the page. However, before signing up, it is important to read the terms and conditions carefully. If a rate looks too good to be true, it often is. The energy plan may come with additional fees, such as a monthly meter fee, or restrictions that must be met to qualify for the rate. If you fail to meet the restrictions, then you may end up paying a much higher rate.
Is There a Cancellation Fee?
Most energy plans come with a cancellation fee if the customer changes electric suppliers before the expiration of the plan. The cancellation fee may come in the form of a flat fee or a fixed price multiplied by how many months are left in the agreement. Cancellation fees can cost up to $300 so be sure to read the terms and conditions carefully before breaking the agreement.
What Happens at the End of my Term?
If the energy plan expires and the customer does not take action then most energy suppliers will switch the customer to a monthly variable rate. Once this happens don’t be surprised to have the electric bill double or even triple in a single billing period. We recommend shopping for a new energy plan a month before the expiration of the term.