Surprise!
Occasionally, New York’s political leaders can step up and act fast in the public interest.
Over the last two weeks, the Assembly and Senate — acting at Gov. Cuomo’s insistence — passed legislation aimed at preventing electricity consumers in New York City from being hit with a double-digit rate hike.
Because they did so, the Federal Energy Regulatory Commission ruled on Thursday that no hikes would be approved.
Earlier this year, FERC had ruled that producers could include potential property-tax increases in rate-setting calculations — despite having received tax abatements from local municipalities (including New York City).
FERC saw the abatements as only temporary, which could be raised abruptly — absent state legislation declaring them set in stone. Thus, power producers were set to raise rates on May 28 — with residential and business consumers paying increases of 12 and 14 percent, respectively, on their Con Ed bills.
Last month, after The Post highlighted the problem, Cuomo called on the Legislature to pass a bill declaring the tax abatements permanent.
After Albany passed it, FERC took action and resolved the matter.
Kudos to the governor and the Legislature for acting so expeditiously.