Con Edison Reminds Customers to Conserve and Save Money This Winter

Con Edison reminds customers they can save money for their households and businesses by conserving natural gas and electricity this winter as the cost of energy rises.

The average residential gas-heating bill from November 2021 through March 2022 will be about $341 per month, up about 24 percent from last winter’s average monthly bill of $275, according to the company’s projections. That estimate is based on average monthly usage of 162 therms and assumes normal winter weather.

The increase is mostly due to supply costs – meaning the cost of the natural gas itself – but the projected bill also reflects increases in the delivery charges.

Con Edison does not set supply costs and does not make a profit on the supply.

The company uses a variety of buying methods and hedges, including short-term and long-term contracts, to get the best prices for its customers and offset increases in the cost of supply. The cost of natural gas has increased as the demand for the commodity has increased, exports have increased, and severe weather has hindered production in the Gulf area. These and other factors have caused a decline in the amount of gas in storage in the United States.

Delivery charges fund investments Con Edison makes to keep service safe and reliable and help customers use gas more efficiently.

The best strategy for Con Edison’s 1.1 million gas customers is to carefully manage their usage. Customers can save money on heating by using these tips:

• Set your thermostat at the lowest temperature at which you are comfortable and safe. Each degree lower decreases heating costs.
• Make sure heating vents are not blocked by furniture, carpeting or anything else that could obstruct the flow of heat.
• Have a qualified contractor clean and inspect your heating system.
• Insulate hot-water pipes and warm-air ducts that pass through unheated areas. Clean or replace filters for your hot-air furnace and heat-pump.
• Swap out window shades seasonally. Light-colored window coverings reflect the sun's energy, while darker ones absorb it and release heat.

In addition, Con Edison offers incentives to help customers make upgrades that can help them save energy and money:

• Get $75 off a gas furnace or boiler tune-up.
• Save up to $135 (limited time offer) on an eligible smart thermostat from our Marketplace. Get a $50 discount when you purchase an eligible Nest, ecobee, Honeywell Home, or Emerson Sensi smart thermostat and enroll your device to receive an additional $85 rebate.
• Residential and business customers can increase comfort and save money year-round with heat-pump technology.
• Con Edison and a partner have a program that allows residential customers to save up to $3,000 (limited time offer) on weatherizing their home. Under the program, a contractor performs the work with no upfront costs to the customer.
• Get more information on Con Edison’s rebates and incentives for upgrades that save energy and money.

Natural gas supplies are expected to remain tight this winter, and any disruption from interstate gas transmission providers could further constrain supplies. Con Edison, however, has secured adequate supplies for its gas customers, approximately 370,000 of whom use gas to heat their homes or businesses in Manhattan, the Bronx, Westchester County, and parts of Queens.

Con Edison places safety first when running its energy systems. The company has replaced more than 421 miles of cast-iron and unprotected steel gas main the past five years and is on track to replace an additional 200 miles in 2021 and 2022.

In addition, Con Edison conducts monthly leak surveys of its gas distribution system, uses predictive analytics to reduce damage to the system by contractors, inspects customers’ indoor services for leaks and is installing the first-of-its-kind natural gas detector to notify operators of customers’ potential gas leaks.

Con Edison also urges customers to conserve electricity during the winter months, particularly with electric costs also on the rise in Westchester County.

Higher natural gas prices increase electricity prices because natural gas is the fuel used to make nearly all the power for homes and businesses in the New York City area. As with natural gas, Con Edison seeks the best prices it can get for electricity and provides it to customers at the same price it pays, meaning the company does not make a profit on it.

The average Westchester residential electric bill from November 2021 through March 2022 is projected to be $163.31 per month, up 15.2 percent from last winter’s average monthly bill of $141.79. The Westchester estimate is based on average monthly usage of 600 kilowatt hours.

The average NYC residential electric bill for the same period will be about $95.77 per month, up 0.7 percent from last winter’s average bill of $95.08, according to the company’s projection. The estimate assumes 300 kilowatt hours of usage per month.

Con Edison is a subsidiary of Consolidated Edison, Inc. [NYSE: ED], one of the nation’s largest investor-owned energy companies, with approximately $12 billion in annual revenues and $63 billion in assets. The utility delivers electricity, natural gas and steam to 3.5 million customers in New York City and Westchester County, N.Y. For financial, operations and customer service information, visit conEd.com. For energy efficiency information, visit coned.com/energyefficiency. Also, visit us on Twitter and Facebook.