State approves Con Ed rate hike for gas and electric
A New York City resident will pay an average of approximately $4 more per month for their electricity bill and $5.73 for gas.
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The New York Public Service Commission approved a rate hike for Con Edison customers in a unanimous vote Thursday.
The increase includes 9% more for electric and about 6% more for gas over the next three years.
A typical New York City resident will pay an average of approximately $4 more per month for their electricity bill in 2026, $3.55 in 2027 and $3.58 in 2028.
As for gas, New York City customers can expect to see bills increase by $5.73 in 2026, $19.32 in 2027 and $15.08 in 2028.
The plan raises electricity bills by an average of 3.5% this year, followed by increases of 3.2% in 2027 and 3.1% in 2028. Gas bills would increase by an average of 4.4% this year, 5.7% in 2027 and 5.6% in 2028.
New York State Public Service Commissioner, Rory M. Christian, said he received letters from 120 state and city officials suggesting a temporary rate hike. Christian said he believes that those suggestions were not warranted and would not benefit customers in the long term.
Con Edison officials say the hikes will contribute to the utility company’s property tax expenses, pension and post-employment benefit costs, as well as changes in the company’s capital structure–all meant to benefit their customers.
For ConEd customers looking for financial assistance on bills, you can visit Financial Assistance Programs: EAP, HEAP & More | Con Edison for more answers.
