That is the title of the press release on July 20, regarding the Con Edison rate increase.
Put it another way: the Rent Guideline Board did a phenomenal job in June by CUTTING rent-stabilized New Yorkers lease increase request by 70% versus the proposed 15.75% 2-year lease increase.
“The need for revenue increases for the electric business are largely attributable to an increase in rate base driven primarily by additional capital investments, lower forecasted sales volumes in RY1, and growth in property taxes. These increases are offset by a reduction in operations and maintenance costs, largely due to lower pension and OPEB costs.” NYS Dept of Public Service: Con Edison
Candidate for City Council in 2023
