New York State Approves Modest Con Edison Rate Hikes Amid President Trump and Mayor-elect Zohran Mamdani's Joint Plea for Cuts.
In a move that has left many New Yorkers breathing a sigh of relief, the state Public Service Commission has approved modest rate hikes from utility giant Consolidated Edison. The 3.5% increase in electricity rates, 4.4% in gas rates, and corresponding monthly bill increases will take effect starting in 2026.
Despite this apparent reprieve, critics argue that Con Edison's rates remain unaffordable for many residents, particularly the poor and elderly. A recent analysis by the Alliance for a Green Economy revealed that monthly Con Edison gas bills have risen around $50 since 2022, while profits have surged by 66% over the last decade.
Critics contend that the utility company's system rewards capital expenditures through a state-guaranteed return on equity baked into every customer's bill. This has led to a situation where cost is simply passed on to all ratepayers, with an estimated annual cost of around $200 million.
The repeal of the "100-foot rule," which would have prevented Con Edison from charging customers for new gas hookups within 100 feet of a pipeline, was a major factor in reducing the proposed rates. However, critics argue that this move will only serve to further burden ratepayers with an estimated $10-15 monthly increase.
New York City residents expressed outrage over the approved rate hikes, with many stating that they could no longer afford their energy bills. A resident quoted in the public comments described being forced to work by candlelight during the summer and freeze in the winter due to unaffordable rates. The sentiment echoed by many was one of frustration and desperation.
The controversy highlights the ongoing struggle for affordable energy solutions in New York City, where nearly a quarter of households have had their power cut, and approximately 3.5 million households are behind on bills. As President Trump and Mayor-elect Zohran Mamdani seek to find common ground with Con Edison, many remain skeptical that meaningful change is on the horizon.
In response to the approved rate hikes, Con Ed spokesperson Jamie McShane emphasized the utility's commitment to partnering with the mayor-elect on solutions that make New York City affordable for everyone. However, critics argue that this stance rings hollow given Con Edison's history of prioritizing profits over affordability.
In a move that has left many New Yorkers breathing a sigh of relief, the state Public Service Commission has approved modest rate hikes from utility giant Consolidated Edison. The 3.5% increase in electricity rates, 4.4% in gas rates, and corresponding monthly bill increases will take effect starting in 2026.
Despite this apparent reprieve, critics argue that Con Edison's rates remain unaffordable for many residents, particularly the poor and elderly. A recent analysis by the Alliance for a Green Economy revealed that monthly Con Edison gas bills have risen around $50 since 2022, while profits have surged by 66% over the last decade.
Critics contend that the utility company's system rewards capital expenditures through a state-guaranteed return on equity baked into every customer's bill. This has led to a situation where cost is simply passed on to all ratepayers, with an estimated annual cost of around $200 million.
The repeal of the "100-foot rule," which would have prevented Con Edison from charging customers for new gas hookups within 100 feet of a pipeline, was a major factor in reducing the proposed rates. However, critics argue that this move will only serve to further burden ratepayers with an estimated $10-15 monthly increase.
New York City residents expressed outrage over the approved rate hikes, with many stating that they could no longer afford their energy bills. A resident quoted in the public comments described being forced to work by candlelight during the summer and freeze in the winter due to unaffordable rates. The sentiment echoed by many was one of frustration and desperation.
The controversy highlights the ongoing struggle for affordable energy solutions in New York City, where nearly a quarter of households have had their power cut, and approximately 3.5 million households are behind on bills. As President Trump and Mayor-elect Zohran Mamdani seek to find common ground with Con Edison, many remain skeptical that meaningful change is on the horizon.
In response to the approved rate hikes, Con Ed spokesperson Jamie McShane emphasized the utility's commitment to partnering with the mayor-elect on solutions that make New York City affordable for everyone. However, critics argue that this stance rings hollow given Con Edison's history of prioritizing profits over affordability.
I mean, who needs a break when you can just keep raising those rates anyway? It's not like anyone got tired of living in the dark or shivering in their homes... 
2026 can't come soon enough for Con Edison's bank account. Meanwhile, the mayor-elect is trying to sound all concerned and stuff about affordability, but let's be real, it's just a PR stunt 
- i mean i know some people are relieved it wasn't way worse but 3.5% and 4.4% hikes still sound like a lot to me especially when you consider how much money con edison makes 
we need better solutions than just passing the cost on to consumers - maybe we can look into renewable energy sources or something? 
i dont get why we gotta pay $50 more every month since 2022 is that really a lot of money?!?! my grandma gets by with like a hundred bucks a month but con edison wants us to pay way more than that...i'm all for affordable energy but at the same time, how can they justify making so much profit in the first place? 
their 100ft rule repeal was just a nice way of saying "we're gonna make ur life harder with more debt" 
I'm kinda surprised they didn't go higher, but 3.5% isn't terrible. It's still annoying tho. 
it's crazy how sometimes our concerns are met with a small consolation just to keep us quiet 
. think about it, we're left with the same issue, just a slight tweak to make it feel less painful 
basically, con edison gets to charge customers for new hookups without having to worry about the environmental impact. and now people are gonna pay more because of it? not cool 
a 3.5% increase might not seem like much, but trust me it adds up 
no way fam, ppl have been saying this same thing for yrs & nothing changes 
seriously though, it's like Con Edison has no qualms about raising rates as long as they get that state-guaranteed return on equity. and let's be real, 4.4% gas rate hike is still way too high for anyone on a fixed income 
️ and another thing what's up with this "100-foot rule" 
it sounds like they're just finding ways to raise rates anyway, I need some real solutions here 
and I swear, have you ever tried fresh lobster from a roadside stand? It's life-changing! The way they steam it in seaweed... anyway, speaking of steaming, I was thinking about how Con Edison's rates are like a never-ending steamroller – crushing the poor and elderly 
!
i get that cost control is hard, but can't we find ways to make energy more affordable without breakin' the bank? this whole thing just stinks 
. I mean, come on @ConEdison, can't you work with Mayor-elect Mamdani to find a solution that's not just about lining your pockets 
!
, but let's not write off the entire company just yet 
. With President Trump and Mayor-elect Zohran Mamdani at the table, there might be some real progress on affordable energy solutions - we'll just have to wait and see 
. And honestly, I think it's awesome that Con Edison is committing to partnering with the mayor-elect 
- now let's see if they can deliver on those promises 
.