NY Tells Con Ed To Return $133.5M In Customer Credits

Law360, New York (March 15, 2012, 2:28 PM EDT) -- State officials on Thursday ordered Consolidated Edison Co. of New York Inc. to reach into its pocket and offset a $133.5 million surcharge set to hit customer bills April 1, rejecting the utility’s bid to keep most of that sum in reserve.

The New York Public Service Commission's unanimous vote came after months of wrangling in which interest groups like the New York Energy Consumers Council Inc. insisted the utility, which serves millions of residents in New York City and Westchester County, easily could afford to...
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