Updated: ConEd Deferring "Significant Portion" Of Higher Generation Capacity Supply Costs For Default Service Customers

Con Edison noted in a filing with the New York PSC that it has deferred, for New York City residential customers, "a significant portion of higher generation capacity supply costs expected this year."

"This deferral is now reducing New York City residential customers’ bills by approximately $4 each month in the summer months from what Con Edison had forecasted for this summer," Con Edison said.

Specifically, the deferral is occurring under the bypassable Statement of Market Supply Charge - Capacity (MSC CAP), or the MSC capacity charge

In filing an updated MSC CAP (Statement No. 61), reflecting the deferral of a portion of capacity costs for SC1 residential customers in the New York City zone, Con Edison said in a tariff filing that, "Con Edison filed rates effective May 1, 2020 through its MSC CAP – Statement No. 60 ('Statement No. 60'). The rates included in Statement No. 60 reflected increases in the price of generation capacity in New York City due to wholesale market forces and changes in capacity cost allocation, which Con Edison forecasts to produce a significant increase in summer capacity costs for New York City residential customers."

"Given the extraordinary circumstances of the COVID-19 pandemic and its economic impacts, the Company is deferring, for future recovery, a portion of summer capacity costs for New York City residential customers. The Company will apply interest on the deferred balances at the Commission’s other customer capital rate," Con Edison said

Specifically, here are the MSC CAP charges for SC1 - Rate I (residential) New York City zone customers, for April and May, with both the original May filing and deferral filing. The number in parenthesis reflects the Statement Number for the MSC CAP. Statement No. 61 reflects deferrals for other residential SC1 rate classes (e.g. TOU) in NYC; such rate classes are not shown here

Con Edison
MSC CAP – Statement

SC 1 - Rate I NYC
$/kWh

April (59)   May 1 (60)   May 13 (61)
             Original     Deferral

0.01475      0.08005      0.06928