Con Edison seeks approval for double-digit rate hikes in New York City, Westchester

Con Edison has proposed significant rate increases for gas and electric bills, seeking approval from New York's Public Service Commission for an average electric bill hike of 11.4% and a gas bill increase of 13.3%, effective January 1, 2026. If approved, this would result in an annual increase of approximately $1,848 for New Yorkers compared to 2020 rates. Con Edison argues that the increases are necessary to fund over $21 billion in infrastructure investments and to fortify energy systems against more frequent extreme weather events. Critics, including renewable energy advocates and local legislators, express concern about the financial burden on residents, especially those on fixed incomes, and call for a reevaluation of energy transition costs. Public hearings will be held as part of an 11-month review process, allowing various stakeholders to voice their opinions on the proposed hikes. Con Edison maintains that the investment plan is crucial for maintaining reliable energy service.