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Article: Business groups aren't sold on Con Ed-NY deal. (Consolidated Edison Company of New York)
- Article from:
- Crain's New York Business
- Article date:
- March 10, 1997
- Author:
CopyrightCOPYRIGHT 1997 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Customers seek faster evolution to open market, not just rate cuts
Business groups are unhappy with the proposed deregulation agreement between Consolidated Edison Company of New York and the state, despite the fact that the deal was apparently designed by the Pataki administration to stimulate business expansion.
Business organizations say the agreement won't reduce rates low enough or allow electric competition fast enough. They say Con Ed, by maintaining much of its monopoly for the next five years, would be the big winner should the state Public Service Commission ultimately adopt the plan.
"The problem is it applies to very few customers and has a ...