Get ready to dig deep, New York. That flip of the switch could get more expensive. The energy regulatory arm of the federal government recently decided to eliminate price breaks for some power plants.
That discount was passed down to the consumer, by way of Con Edison or the New York Power Authority, in the form of cheaper electricity rates.
It is unknown how much the average bill will increase, but early estimates suggest it will be $9 a bill. More of your tax dollars will also go towards keeping the city turned on.
In all, $500 million will be generated by FERC's ruling; $300 million of that just from city customers.
NYPA quickly responded: "...results in the unwarranted transfer of wealth from local and state governments and consumers to existing power plant owners."
It is not a done deal just yet. The power companies, the city of New York and some state agencies like the Office of General Services are petitioning the federal government to reconsider its decision.
Friday, May 17 2013 8:28 PM EDT2013-05-18 00:28:27 GMT
Democratic Assemblyman Vito Lopez, who represents New York City, said he will resign June 20 amid a sexual harassment scandal and run for a City Council seat.
Democratic Assemblyman Vito Lopez, who represents New York City, said he will resign June 20 amid a sexual harassment scandal and run for a City Council seat.
Thursday, May 16 2013 6:06 PM EDT2013-05-16 22:06:34 GMT
A smuggling ring that made a fortune selling more than a million cartons of untaxed cigarettes in New York may have funneled some of the illicit proceeds to terrorist groups, authorities said.
A smuggling ring that made a fortune selling more than a million cartons of untaxed cigarettes in New York may have funneled some of the illicit proceeds to terrorist groups, authorities said.
Thursday, May 16 2013 2:49 PM EDT2013-05-16 18:49:22 GMT
Powerball's estimated jackpot has soared to $550 Million dollars for Saturday's drawing after none of the tickets sold for the Powerball game Wednesday evening matched all six numbers drawn.
Powerball's estimated jackpot has soared to $550 Million dollars for Saturday's drawing after none of the tickets sold for the Powerball game Wednesday evening matched all six numbers drawn.
Thursday, May 16 2013 7:42 AM EDT2013-05-16 11:42:27 GMT
Authorities say they plan to resume the search for an upstate man now that a body found in the Hudson River earlier this week has been identified as his companion in a canoe that capsized last December.
Authorities say they plan to resume the search for an upstate man now that a body found in the Hudson River earlier this week has been identified as his companion in a canoe that capsized last December.
Wednesday, May 15 2013 1:03 PM EDT2013-05-15 17:03:28 GMT
Top Senate Democrat Charles Schumer plans to revive legislation that would protect journalists and their employers from revealing their sources
Top Senate Democrat Charles Schumer plans to revive legislation that would protect journalists and their employers from revealing their sources, days after it was revealed that the Justice Department secretly obtained Associated Press phone records.
Tuesday, May 14 2013 6:09 AM EDT2013-05-14 10:09:21 GMT
The country's four biggest cellphone companies are set to launch their first joint advertising campaign against texting while driving.
The country's four biggest cellphone companies are set to launch their first joint advertising campaign against texting while driving, uniting behind AT&T's "It Can Wait" slogan.
Sunday, May 19 2013 12:24 AM EDT2013-05-19 04:24:33 GMT
Officials in Connecticut say it was amazing that there were no fatalities or more injuries after two Metro-North trains collided around 6 p.m. in Fairfield Friday evening.
Officials in Connecticut say it was amazing that there were no fatalities or more injuries after two Metro-North trains collided around 6 p.m. in Fairfield Friday evening.
Sunday, May 19 2013 12:13 AM EDT2013-05-19 04:13:53 GMT
The NYPD says a 14-year-old girl was shot and killed on a Queens MTA bus Saturday night. The incident happened around 8:50 p.m. on board the Q-6 bus on Sutphin Avenue and Rockaway Boulevard
The NYPD says a 14-year-old girl was shot and killed on a Queens MTA bus Saturday night. The incident happened around 8:50 p.m. on board the Q-6 bus on Sutphin Avenue and Rockaway Boulevard
Sunday, May 19 2013 12:05 AM EDT2013-05-19 04:05:15 GMT
Authorities say one person is dead and another was injured when the vehicle they were in ran off the road and crashed into Huntington harbor on Long Island Saturday evening.
Authorities say one person is dead and another was injured when the vehicle they were in ran off the road and crashed into Huntington harbor on Long Island Saturday evening.
Saturday, May 18 2013 10:14 PM EDT2013-05-19 02:14:35 GMT
An airline official says a US Airways flight with 34 people aboard was forced to make a belly landing at Newark International Airport after experiencing landing gear trouble. No injuries were reported.
An airline official says a US Airways flight with 34 people aboard was forced to make a belly landing at Newark International Airport after experiencing landing gear trouble. No injuries were reported.
Saturday, May 18 2013 8:33 PM EDT2013-05-19 00:33:09 GMT
A 12-year-old boy was shot and killed and his father was wounded on a Jersey City street Friday night. Police say Gywan Levine Jr. and his father, Gywan Levine Sr., were walking on Rutgers Avenue
A 12-year-old boy was shot and killed and his father was wounded on a Jersey City street Friday night. Police say Gywan Levine Jr. and his father, Gywan Levine Sr., were walking on Rutgers Avenue
Saturday, May 18 2013 6:52 PM EDT2013-05-18 22:52:45 GMT
A large crowd of supporters in the Bronx joined the parents of a slain teen to protest a judge's ruling Saturday. Constance Malcolm and Francelot Graham whose son Ramarley was killed back in February
A large crowd of supporters in the Bronx joined the parents of a slain teen to protest a judge's ruling Saturday. Constance Malcolm and Francelot Graham whose son Ramarley was killed back in February
