ALBANY, N.Y. (AP) — Sen. Charles Schumer is calling for an investigation into soaring electricity prices.
The New York Democrat says Wednesday that he’s urging the Federal Trade Commission to look at whether utility prices have been artificially inflated. Schumer says consumers have complained to his office about monthly bill increases of as much as 100 percent.
Schumer says he’s concerned electric bills seem to be rising faster than the price of natural gas used in many power plants.
National Grid spokesman Patrick Stella says the utility supports a review of the price increases, which it has blamed on high natural gas demand and a long, cold winter on the East Coast.
Stella says National Grid doesn’t mark-up wholesale electricity costs and that it is working to gradually phase-in the increases to assist customers.