NY Regulators OK Cuomo-Brokered Con Edison Rate Freeze

Law360, New York (February 20, 2014, 2:57 PM EST) -- New York power regulators on Thursday approved a deal hammered out between Gov. Andrew Cuomo and Consolidated Edison Co. of New York Inc. in which the utility will abandon a proposed $420 million rate hike in favor of a three-year rate freeze.

The expected approval came after the utility — which provides electric, gas and steam power to millions of residents of New York City and Westchester County — said in January that hearings throughout 2013 helped it devise a better plan than the pricey proposal it...
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