Public Outcry Reduces Con Edison Rate Hike Requests

NEW YORK CITY, N.Y. — Con Edison has significantly reduced its proposed utility rate hikes after a record 20,000 public comments were received, primarily opposing the increases. This decision impacts both gas and electricity rates and is set to be approved by the Public Service Commission (PSC).

The Joint Proposal outlines that electricity rates will increase by 3.5% in 2026, followed by 3.2% in 2027 and 3.1% in 2028. For New York City residents, this translates to an approximate $4 rise in monthly bills next year. Gas rates will see a hike of 4.4% next year and further increases of 5.7% and 5.6% in the subsequent years, resulting in an expected average monthly increase of $10.67 next year.

Originally, Con Edison had proposed much larger increases: a one-time hike of about 13% for gas, which would add around $46.42 to monthly bills, and nearly 19% for electricity, which would increase bills by about $26.60.

The public’s response to the proposed hikes was largely driven by concerns over an ongoing housing affordability crisis. The Westchester Municipal Consortium (WMC), which includes 40 municipalities, strongly opposed the increases.

“While the reductions do not go as far as we had proposed, they are a substantial move in the name of affordability,” said Joel Dichter, the WMC’s counsel.

Con Edison spokesperson Jamie McShane emphasized the collaborative nature of the process, stating, “This process worked as designed … producing a plan that balances the immediate affordability challenge with necessary investments for system reliability.”

However, not all lawmakers are satisfied with the Joint Proposal. State Sen. Shelley Mayer (D-Rye) expressed dissatisfaction, calling it insufficient in addressing the affordability crisis faced by many constituents. “This proposal is an improvement on ConEd’s original filing, but it does not go far enough for members of our community,” she said.