06/10/2013 03:33 pm ET

Power Players Slam Con Ed Bid For Rate Hikes


For the first time in three years, Consolidated Edison is asking the state Public Service Commission for permission to charge its 4.4 million customers in New York City and Westchester County higher electrical and gas rates.

The utility giant wants to use the additional $400 million to help stormproof its system, through actions such as moving overhead power lines underground and constructing flood barriers around facilities, like the East River power plant that was inundated with floodwater during superstorm Sandy, blacking out much of Manhattan.

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