NYC, CON ED AGREE TO CURB ELECTRIC RATES

NYC, CON ED AGREE TO CURB ELECTRIC RATES

An agreement that will freeze the basic rate for electricity in New York City and Westchester for the next two years was signed Wednesday by Gov. Mario M. Cuomo and Arthur Hausperg, chairman of Consolidated Edison Co.

The agreement "insures at least nine years of stable base rates," Gov. Cuomo said, noting that Con Edison has not had a rate increase since 1983. The new agreement freezes rates through March 1992. It must be approved by the state Public Service Commission.