Electricity rates expected to drop this summer

Consolidated Edison Company of New York

May 29, 2012 5:34:08 AM PDT
Electricity rates for many New York city residents will be dropping, beginning June 1.

Con Edison says bills this summer will be, on average, 1.5 percent lower than last year.

In New Jersey, customers will see rates fall anywhere from 3 to 6 percent, depending on the utility.

A drop in the price of natural gas, used in power generation, is the reason.

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