Rep. Ritchie Torres has accused Con Edison of price gouging, claiming Bronx customers face significantly higher gas rates compared to residents in other NYC boroughs. He states, "The two utilities providing the same gas service to the same city should, in theory, have the same pricing. Yet in practice, the pricing differs, and the difference is not minor. It's massive. It's more than 100%." His report highlights that Bronx customers pay $1.29 per therm, more than double the cost faced by National Grid customers in Brooklyn and other boroughs.
Torres' investigative report reveals Con Edison charges Bronx customers $1.29 per therm for gas delivery, starkly higher than the delivery costs in other boroughs. He asserts that the pricing discrepancies between Con Edison and National Grid are significant and unjustifiable, indicating that Bronx residents are essentially being overcharged for the utility service they receive.
Con Edison, in response to the accusations, stated that the energy delivery rates differ due to factors like 'level of service, customers' needs, characteristics of the area, and when new rates take effect.' However, this explanation does not address the stark price differences highlighted by Torres' investigation.
Torres further criticized Con Edison's CEO compensation, asserting that the CEO's pay of $16.2 million in 2023 reflects a concerning prioritization of corporate profits over equitable service delivery to Bronx residents, especially as National Grid's CEO earned significantly less.
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