New York Electricity Bills To Surge On Grid Upgrade
New York State is upgrading its electricity grid. The cost will be well into the billions of dollars, and it is not clear who will pay the bill.
Tim Cawley, who leads Consolidated Edison, said at Semafor’s World Economy Summit that the company plans to invest $7 billion annually in building its grid. A service map of the area shows that the utility’s service area is NYC and parts of Westchester County.
There is an extent to which Con Ed does not control its fate in terms of energy sources. “Con Edison sources its electricity from various sources, including natural gas, nuclear, wind, solar, and hydropower. The specific fuel mix delivered through Con Edison’s system is managed by the New York Independent System Operator (NYISO) and not directly controlled by Con Edison.” Cawley thinks access to renewables will only be built slowly.
Con Ed Costs
Con Ed faces the same challenges most US utilities do. Demand has started to spike and will continue to do so. Along with residential and legacy business customers, AI server farms, Bitcoin mining, and increased air conditioning use may overwhelm capacity.
As the “overwhelming” continues, there may be a capacity shortage. That could lead to brownouts or blackouts, even if bills have been increased. At that point, it becomes a legal and political problem.
More from ClimateCrisis 247
- Say Goodbye To Green Energy
- Google Goes Very Green
- AI Is Ruining Some Water Supply
- Gas Prices Ready For Sharp Drop
