Con Edison proposes double-digit rate hikes for electricity and gas

Yahoo

12-02-2025

NEW YORK (PIX11) — Your electricity and natural gas bills may be increasing as Con Edison has proposed double-digit rate hikes for both.
Now- the governor is stepping in calling for the state to dismiss the proposal.
More: Latest News from Around the Tri-State
The utility company's proposed hikes include 11.4 percent for electricity and 13.3 percent for natural gas.
On Tuesday, Governor Hochul spoke on the rate hikes. She said she is directing the state's Department of Public Service to reject the increases and begin an audit of statewide utility management compensation.
'Shocking. And this is a real hit on families. They didn't budget for this,' said Hochul. 'A lot of people are saying, 'Why am I paying this when they're getting paid this much from that money?' I want to make sure that they're being responsible in how they use our ratepayer dollars.'
About the hikes, Con Edison tells PIX11 News 'Affordability in our state and country touches every aspect of New Yorkers' daily life—from energy to housing to groceries. Con Edison is acutely aware of this, which is why we work with customers to make utility bills more affordable. Our energy efficiency programs help our customers use less energy and save money, we've invested 300 million dollars in energy assistance programs for low- and moderate-income customers in 2024 and continue work to enroll all eligible customers and advocate for policy changes to make utility bills more affordable. We also have a responsibility to continue to safely and efficiently deliver the nation's most reliable power while complying with state laws and regulations. That means fortifying the grid in the face of increasingly severe extreme weather, bringing renewable energy sources online to help meet the state's clean power goals, and supporting the workforce we need to conduct ongoing maintenance and swiftly respond to customer service calls. Con Edison, as we always have, stands ready to work with stakeholders and the public to balance all of these priorities and continue to deliver safe and reliable power while using our customers' dollars as efficiently as possible.'
Don't have a college degree? Con Edison is hiring entry-level jobs across NYC
Meantime, the Department of Public Service says, 'In New York, utility rate cases are scrutinized during an 11-month review process to ensure customers are fully protected. At Governor Hochul's direction, DPS will pore over the utility's books to identify ways to cut costs. For the major electric and gas utilities, the approved rates after this process are nearly always lower than what is requested, due entirely to this time-tested stakeholder review process.'
Several New Yorkers spoke to PIX11 News, expressing concern over the proposed rate hikes.
72-year-old JoAnna Powell is on a fixed budget. The artist says she already struggles to pay her utility bills. 'I turn the lights off a lot and I try to keep on the landlord to keep the heat on because sometimes he doesn't do that. And so I put the oven on.'
That's why Powell is horrified to hear about the proposed hikes.
Another woman PIX11 News spoke to said, 'I understand it but even if they could do incrementally that would be great for those living in the city.'
Mirta Rinaldi from Forest Hills, Queens, says, 'Any excuse is good to increase any prices so I don't care, it's not acceptable.'
If the hikes are approved, they will go into effect in 2026.
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