Feds nix electric over'charge'
The Post wrote about FERC's rescinded rate hike for ratepayers' electric bills. In a formal statement, Senator Gianaris said, "I'm glad this misguided rate hike has been reversed and proud that the State took swift action to save ratepayers millions of dollars. Governor Cuomo deserves thanks for working closely with those of us who were alarmed by the FERC decision to resolve the problem."
Federal regulators yesterday officially overturned an order that would have zapped the city by boosting residential electric bills by 10 to 12 percent.
The Federal Energy Regulatory Commission acted barely 24 hours after Albany lawmakers passed a law making property-tax breaks for electricity generators permanent.
That eliminated the rationale for the shocking increase -- that the breaks could be reversed.
Read the full article here.
Friday, May 20, 2011 - 00:00