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Power Up: Commission Approves Con Ed Rate Hikes

NEW YORK – Consolidated Edison customers will pay more for gas and electricity now that the company’s proposed rate hikes have been approved.

The State Public Service Commission voted 4-to-1 on Thursday to allow Con Ed to raise rates over the next three years.

Residential customers will pay 13.5 percent more for electric by 2022.

The electric rate will rise 4.2 percent this year, 4.7 percent next year, and four percent in 2022.

Gas rates are going up 25 percent over the next three years.

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ConEd to hike electricity rates by 9.1% and gas by 8.4% starting August; more increases slated for Jan. 2024

Con Edison customers will see a 9.1% increase in their residential electricity bills rates starting August, following a new three-year plan established during Thursday’s regular meeting held by the New York State Public Service Commission. The rates will change in January 2024 and once again in January 2025. 

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