Co-op board spends entire August meeting trying to understand new energy costs nobody fully explained beforehand
UPPER WEST SIDE A local co-op board’s recent switch from oil to electric heating, prompted by the mayor’s broader energy transition push, has produced what board members describe as “genuine environmental pride mixed with genuine financial confusion” after this month’s first electric-powered utility bill arrived considerably different from anyone’s actual projections.
The Meeting Where This All Came to a Head
Board treasurer Howard Feinstein spent nearly the entire August meeting attempting to reconcile the new bill against the building’s pre-transition projections, eventually admitting, with visible frustration, that “the math isn’t mathing the way the presentation promised it would.”
What the Original Pitch Actually Promised
Building residents recall being told the switch would be “roughly cost-neutral, maybe even slightly cheaper” over time, a projection Feinstein now describes as “aspirational at best,” given the first bill’s actual figures.
The Environmental Case, Which Nobody Disputes
Board members remain genuinely supportive of the underlying environmental rationale, with several noting they’d make the same switch again regardless of the cost confusion, simply wishing the financial transition had been explained with considerably more precision beforehand.
How the Board Is Handling This Going Forward
They’ve requested a detailed breakdown from the city’s energy transition office, hoping to understand whether this month’s bill reflects a genuine ongoing cost or simply a one-time adjustment period quirk that will smooth out over subsequent billing cycles.
What Other Buildings Are Reportedly Experiencing
Feinstein says he’s heard from several other co-op boards navigating nearly identical confusion, suggesting this isn’t an isolated billing error but rather a broader gap between the transition’s promotional framing and its actual, considerably messier financial reality.
Where This Leaves the Building
Committed to the electric switch regardless, board members say, while hoping next month’s bill offers considerably more clarity than this one managed to provide. Further New York City coverage continues at bohiney.com.
SOURCE: https://bohiney.com