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High Oil Price Has Effect On NY Electric Bill

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Jul 11, 2008 12:37 pm US/Eastern

High Oil Price Has Effect On NY Electric Bill

NEW YORK (AP) ― The high cost of oil isn't just hitting people at the pump.

Electric bills have also been climbing sky high because of rising fuel prices.

Rates have been going up across the country, but things have been especially harsh in New York, where power stations are more likely to burn oil or natural gas than cheap coal.

Those extra costs are getting passed on to customers.

Con Edison says its typical customer in New York City is getting billed around $93 for the month of July, compared to $80 just two months earlier.

That's an increase of around 16 percent.

And things are only expected to get worse as the summer goes on.

Oil prices spiked to a new record above $147 a barrel on Friday.

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