Con Ed's utility rates rose on April 1, thanks to Governor Andrew Cuomo.
He's using New York City rate payers to fund a $7.6 billion bailout of two upstate
nuclear power plants, plus the opening of a third. But his Public Service Commission plans to close the Indian Point nuclear power plant, which provides 25 percent of the city's electricity, by 2021.
This reminds me of a line in the Woody Allen film "Love & Death": "I'm going to be shot at sunrise. It would have been earlier, but I had a good lawyer."
Cuomo may need a good lawyer to justify why he's spending so much money to benefit Excelon Corporation, owner of the three upstate plants and the largest private power provider in the U.S.
It makes huge profits selling power in 47 states, and customers include two-thirds of Fortune Magazine's top 100 companies.
This deal is 7.6 times worse than Cuomo's "Billion For Buffalo" play-to-pay scam, which is under federal investigation. More than 80 municipal leaders tried to stop what they called a "hasty and secretive" action.
New York voters should pull the plug on Cuomo's 2018 re-election. He claims his plan will provide more sources of green energy, but the only "green" we'll see is in our higher
Con Ed bills.
Kew Gardens Hills