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FOR IMMEDIATE RELEASE
PR- 165-11
May 18, 2011

STATEMENT OF MAYOR MICHAEL R. BLOOMBERG ON PASSAGE OF NEW STATE LAW PROTECTING NEW YORK CITY ELECTRICITY RATEPAYERS FROM MASSIVE RATE INCREASE

Bill Proposed by Mayor Bloomberg and Governor Cuomo Removes Justification for Massive Electricity Rate Increase Granted by Federal Energy Regulatory Commission in January

“The moment the decision came down from the Federal Energy Regulatory Commission to give power companies an unjustified windfall that would translate into a 12 percent electricity rate increase for ratepayers we began working to have it reversed. The passage of our bill clarifies for the Commission the true costs of producing power and there is now zero justification for the massive rate increase. We asked the Commission to re-examine this case and the passage of today’s law is another reason they should render a new decision that will be more equitable to New York City ratepayers. I want to thank Governor Cuomo and thank Senator Schumer for their strong leadership in fighting to protect New Yorkers from an unjust electric bill increase. I also want to thank Speaker Silver, Assemblyman Farrell and the rest of the Assembly for moving this bill quickly through the Assembly, and I also want to thank the State Senate, Majority Leader Skelos and in particular Senator Lanza for passage in the State Senate.”







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Stu Loeser/Marc La Vorgna   (212) 788-2958



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