Posted on 07/24/2023 11:43:01 AM PDT by lowbridge
Why is Con Ed hiking rates?
True, execs at the company did enjoy a pay bump in 2022, with CEO Timothy Cawley getting a 4% hike in base compensation.
But the central driver is idiotic green policies, both at the state and federal level — clamping down on fossil-fuel use, forcing infrastructure improvements to handle the shift, taxing utilities to the hilt, etc.
That fuels costs that get passed on to consumers.
This week, Team Biden struck yet another blow in its war against domestic energy production, jacking up costs for drillers on federal land: Royalty rates will rise from 12.5% to almost 17%; minimum per-acre lease bids will quintuple.
The administration estimates this will cost producers some $1.8 billion over the next eight years — with the possibility of yet more cost hikes to come.
And the same progs whinging about Con Ed rate hikes applaud this nonsense.
Just as they applauded the state’s insane Climate Leadership and Action Plan.
That brainchild of Albany Dems, signed into law by then-Gov. Andrew Cuomo in 2019, aims to make New York’s power generation 100% emissions-free by 2040.
(Excerpt) Read more at nypost.com ...
Well they certainly don't need any of that dirty old Texas NG so just shut off those pipelines headed up the east coast.
.
The Globohomo Regime gains political power by doing these things.
Eg. Europe. The people that closed domestic natural gas fields and forced dependency on Russian gas - they are now in charge of EU natural gas rationing.
They are more powerful than ever !
Why can’t energy producing states make it illegal to sell hydrocarbon fuel to states that are anti-fossil fuel? Why are they allowing them to fight against them while fueling their efforts?
Or, charge double the costs to those states as a punishment for increasing the costs for exploration?
Make them pay dearly for their stupidity.
I always found it interesting it’s called “CON” Ed.
Cause and Effect is a concept liberals just cannot grasp.
They will run the grid over a cliff then blame the utilities.
That’s OK, the people left in NY are rich and can easily afford the rate increases.
Stfu. Pauseable energy is good for you. Buy some candles!
Come to Washington State. Governor Inslee and the dem tack a bunch of green energy crap on the price of fuel and now we pay the highest fuel prices in the US. Now he’s bitchin about corporate profits of the oil companies
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