Con Edison Urging Customers to Conserve During Winter of High Nationwide Energy Costs

Con Edison reminds customers to conserve energy with winter starting this month and energy costs running higher than a year ago.

Con Edison recognizes that high energy costs are a hardship for consumers across the United States, including in the New York region, and wants to help customers manage their bills during the winter heating season.

The company offers energy-saving tips and payment assistance options, including levelized billing, which smooths out a customer’s costs out throughout the year. The company encourages customers to check out its energy efficiency incentives.

The company also offers help for customers who are struggling with their bills. Con Edison offers payment plans, so that customers can pay off arrears over time, rather than all at once.

Con Edison buys natural gas and electricity on the wholesale markets and uses a variety of strategies to stabilize pricing for customers. The company does not set supply costs and does not make a profit on the supply. But Con Edison takes steps to keep energy bills as low as possible. Those steps include locking in energy prices when energy is cheaper.

Con Edison notes that energy costs can change quickly due to international events, economic trends, weather and other factors. The company will continue to refine its winter pricing forecast.

Projections

The company currently projects that its average residential natural gas heating customer using an average of 165 therms per month will pay an average of $418.77 a month from November 2022 through March 2023. That’s 20.5 percent more than the average bill of $347.53 a year earlier.

Supply costs will account for $50.01 of that $71.24 increase, while delivery charges will account for $21.23, under the company’s projections.

Higher natural gas prices also affect the cost of electricity, since power generation plants in the New York City region run mainly on natural gas.

A New York City residential customer using 300 kilowatt hours a month from November through March will pay about $110.62, a 16.3 percent increase over the $95.11 in the same period last winter.

A Westchester County residential customer using 600 kilowatt hours a month will have an average bill of $180.22, a 12.6 percent increase over last winter’s $160.00, based on the company’s latest estimates.

For a small commercial customer using 583 kilowatt hours per month, November-to-March bills are projected to rise $32.64, or 16.9 percent, from $193.64 last winter to $226.28.

A larger commercial customer using 10,800 kilowatt hours per month with a peak demand of 31 kilowatts will see an increase of $513.11, or 20.3 percent from $2,523.85 to $3,036.96.

December Bills

In the more immediate term, the company expects a typical New York City residential customer to have a December electric bill 43 percent higher than in December 2021. The gas heating bill for that customer will be 20 percent higher, according to the company’s projections.

A typical NYC small to medium business customer can expect a 48 percent higher electric bill and a 19 percent higher gas heating bill than last December.

A typical NYC large business customer can expect a 63 percent higher electric bill and a 21 percent higher gas heating bill than last December.

A typical Westchester County residential customer can expect a December electric bill 16 percent higher than a year earlier and a gas heating bill 15 percent higher.

A typical Westchester small to medium business customer can expect an 18 percent higher electric bill and a 19 percent higher gas heating bill than last December.

A typical Westchester large business customer can expect a 19 percent higher electric bill and a 21 higher gas heating bill than last December.

The best strategy for Con Edison’s 3.5 million customers is to carefully manage their usage.

Customers can save money on energy by using these tips:

• Set thermostats at the lowest comfortable temperature. 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 heating systems.
• Insulate hot-water pipes and warm-air ducts that pass through unheated areas. Clean or replace filters for the 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.
• Replace conventional light bulbs with LED bulbs, which are up to 10 times more efficient, and are widely available and affordable.

Con Edison is also implementing the New York State Electric and Gas Bill Relief Program, which the company helped design and propose.

Under that program, residential customers who receive qualifying government assistance will receive a bill credit on their past-due balance for service through May 1, 2022. Customers must enroll in Con Edison’s Energy Affordability or received benefits under New York state’s Emergency Rental Assistance Program or the Home Energy Assistance Program-Regular Arrears Supplement program. Enrollment ends Dec. 31, 2022.

For customers who are enrolled in Con Edison’s Energy Affordability program or received Emergency Rental Assistance Program or Home Energy Assistance Program-Regular Arrears Supplement benefits, bill credits will be processed automatically. In addition, service will not be suspended for non-payment while credits are being processed.

Customers who receive benefits from certain government programs may qualify for discounts on their monthly energy bills. Con Edison offers information on these and other forms of assistance.

Con Edison is a subsidiary of Consolidated Edison, Inc. [NYSE: ED], one of the nation’s largest investor-owned energy companies, with approximately $14 billion in annual revenues and $66 billion in assets. The utility delivers electricity, natural gas and steam, and serves 3.5 million customers in New York City and Westchester County. Through Consolidated Edison Inc.’s subsidiary, Con Edison Clean Energy Businesses, the company is the second-largest solar developer in the United States. For financial, operations and customer service information, visit conEd.com. For energy efficiency information, visit coned.com/energyefficiency.

Energy Prices Are Rising Across the U.S. Here’s a Guide on How Customers Can Manage Their Winter Bills

• Spread payments out evenly across the year. A Level Payment Plan allows you to avoid large month-to-month changes in energy costs.
• Consider a payment agreement. A payment agreement can help you pay down an outstanding balance in manageable, monthly installments.
• Check your benefits. Find information about governmental assistance programs, such as Medicaid or Supplemental Nutrition Assistance Program (SNAP). Customers enrolled in assistance programs may be eligible for discounts on their energy bills through our Energy Affordability Program.
• Go energy efficient. Upgrade your lights, thermostats, and other appliances through our Marketplace rebates and savings, exclusive to our customers.
• Manage your use. Register for My Account and log in via conEd.com or our mobile app for an in-depth look at your hourly energy use.
• Get customized tips. Our Home Energy Analysis tool can give you personalized tips and suggestions to help you improve efficiency and control costs this summer—and all year long.
• Choose your energy supplier. Con Edison does not generate energy. We provide customers their energy at the same wholesale rate that we pay for it and don’t make a profit on supply costs. Customers can research and choose another supplier and get tips for evaluating choices.