Schumer: New fed energy decision could hike electric rates - Boston News, Weather, Sports | FOX 25 | MyFoxBoston

Schumer: New fed energy decision could hike electric rates

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A new federal energy decision could cost New Yorkers almost $500 million a year in electricity rate hikes. 

Senator Chuck Schumer (D-NY) spoke to community leaders outside a Con Edison power plant on Avenue C & 14th Street in the East Village Sunday. 

The senator wants the Federal Energy Regulatory Commission (FERC) to re-evaluate excluding lower cost power plants from selling in New York in favor of companies with older, less efficient power plants. 

Schumer says the current decision would result in significantly increased electric rates for homeowners and businesses.

"In these tough economic times, the last thing hard working New York homeowners and small businesses need is another unnecessary increase in their electricity bills. We should be unfurling the welcome mat if a new power producer wants to provide affordable electricity to New York residents, not throwing up obstacles in their way as FERC has done with its unsound decision," said Schumer. "Preventing more efficient plants from selling electricity is not only costly for New Yorkers; it violates the fundamental principles of the free market. FERC needs to go back to the drawing board here, and come up with a new decision, with an eye towards giving rate payers some relief." 

The NY Power Authority along with the MTA and other state city agencies is filing a request for a re-hearing.

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