Gov. Cuomo is at it again, beating up on an easy target — Con Ed — and opposing its rate hikes for 2014.
But if he really wants to ensure safe, reliable energy for New Yorkers at reasonable rates, he’s got a whole toolbox of better options.
Con Ed is seeking hikes that would bump up bills by about 3 percent. But the governor is saying no, citing the company’s performance during Superstorm Sandy and the recent Metro-North power outage.
It’s true Con Ed wasn’t fully prepared last year for one of the region’s worst storms ever. And it still has some tough questions to answer about the Metro-North foul-up.
But here’s the problem with the Cuomo approach: The state usually lets Con Ed reap a “reasonable” return to stay healthy. If lower rates lead to lower revenues, managers and shareholders won’t be the only ones taking the hit. It is likely to mean less money for important upgrades such as hardening the system against storms, too.
Meanwhile, the governor refuses to take other, more effective steps that would accomplish what he says he wants.
Taxes on the average bill, for example, now account for about 25 percent. That’s roughly the same as Con Ed’s share. Yet rather than lower these taxes, Cuomo raised them through 2017.
Likewise, the governor could push for new power plants, to boost energy supply and lower prices. Instead, he’s moved to close the Indian Point nuclear plant.
There’s also hydraulic fracturing, or fracking, for natural gas. Opening New York to fracking would also boost supply and help keep rates down. But Cuomo’s put that on indefinite hold.
Let’s be clear: We’re all for bringing down New York’s electric bills. We only wish the governor would do something real instead of doing something political.