Like Everything Else, Con Ed Will Soon Cost More

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Bad news! Con Ed is raising its rates. The utility company has submitted two plans to the state's Public Service Commission to help it close up a $160 million budget shortfall. One plan would raise rates 6.6 percent over three years and the other would shoot them up 9.1 percent over one year. Weird, because we just reading that Con Ed profits are up 85 percent. [NY1]