New York energy company Con Edison is seeking new electric and gas rates in 2023 to fund clean energy investments, in a proposal that includes a 200MW solar PV plant and four battery energy storage system (BESS) projects.
Made to the New York State Public Service Commission (PSC), the proposal plans to increase customers bills in order to raise an additional US$1.2 billion in funding for the investments, which also include transmission upgrades. It is also asking for US$500 million for its gas operations.
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The New York-based utility is looking to develop a 200MW solar park that it can operate “for the life of the equipment at lower costs”, rather than under current models of fixed duration, variable-priced agreements, it said.
In a bid for greater reliability and flexibility, Con Edison is also pitching to add “four sets of batteries”, with an undisclosed total capacity, that it said would reduce pressure on the grid systems and facilitate the transition to clean energy.
The proposal also calls for upgrades to Con Edison’s overhead and transmission system throughout the five boroughs of New York City and Westchester County to ensure reliability and help integrate solar and wind power.
The higher rates would boost overall customer electric bills by 11.2% and gas bills by 18.2%, Con Edison said, adding that it would consider customer’s ability to pay and cost increases would vary by ‘customer class’.