New York.- Assemblyman Michael Gianaris (D-Queens) after it was revealed that a 45% reduction in fuel prices would result in only a 19% reduction for New Yorkers’ utility bills due to Con Edison raising its rates for the delivery of electricity, stated that it’s a sad and cruel game.

“New Yorkers pay more when fuel prices go up, but do not experience the full benefits when prices drop because Con Edison must take its share of the money,” said Assemblyman Michael Gianaris (D-Queens). “Only after an unaccountable monopoly like Con Edison is reformed to face greater competition and stronger regulation can we expect our electricity bills to accurately reflect the marketplace.”