New York's utilities regulator has given the green light to a rate hike for Con Edison customers, despite fierce opposition from lawmakers and advocacy groups. As of this year, average electricity bills will rise by 3.5%, while gas bills will increase by 4.4%. For New Yorkers in the city, that translates to an additional $6.88 per month.
The increases were approved by a unanimous vote from the Public Service Commission, which had been negotiating with Con Edison for months. Environmental groups, New York City's government, and 40 Westchester municipalities all signed off on the new proposal, but advocates say it still won't help those struggling to pay their bills.
According to AARP, around 1 million Con Ed ratepayers received notices last year that they would have their power cut off due to lack of payment. Bill Ferris, a legislative representative for AARP, called the proposed increase "way too high" and said it wasn't the right time to raise rates when people are already struggling.
The original proposal had been even steeper, with one-time increases that would have raised gas customers' bills by 13% and electricity consumers' by 19%. However, after a record number of public comments (over 20,000) most in opposition, the Public Service Commission agreed to reduce the rates.
Con Edison claims the revised increase is necessary due to inflation. The company's financial statements show significant revenue growth over the past few years, but experts argue that it needs to take steps to make its rates more affordable for customers.
State officials have long expressed concerns about the affordability crisis in New York and plan to hold energy companies accountable to ensure a reliable grid. For now, however, Con Edison customers will face higher bills as the new rate hike takes effect retroactively from January 1, 2026.
The increases were approved by a unanimous vote from the Public Service Commission, which had been negotiating with Con Edison for months. Environmental groups, New York City's government, and 40 Westchester municipalities all signed off on the new proposal, but advocates say it still won't help those struggling to pay their bills.
According to AARP, around 1 million Con Ed ratepayers received notices last year that they would have their power cut off due to lack of payment. Bill Ferris, a legislative representative for AARP, called the proposed increase "way too high" and said it wasn't the right time to raise rates when people are already struggling.
The original proposal had been even steeper, with one-time increases that would have raised gas customers' bills by 13% and electricity consumers' by 19%. However, after a record number of public comments (over 20,000) most in opposition, the Public Service Commission agreed to reduce the rates.
Con Edison claims the revised increase is necessary due to inflation. The company's financial statements show significant revenue growth over the past few years, but experts argue that it needs to take steps to make its rates more affordable for customers.
State officials have long expressed concerns about the affordability crisis in New York and plan to hold energy companies accountable to ensure a reliable grid. For now, however, Con Edison customers will face higher bills as the new rate hike takes effect retroactively from January 1, 2026.
I'm so worried about my aunt living in Queens, she's already struggling to make ends meet, and now her electricity bill is gonna increase by like $8 a month?! That's just not right! 
Back in my day, we didn't have all these fancy rate hikes, we just used less energy because it was cheaper that way. And another thing, what's with Con Edison making so much money? 
They're always talking about inflation, but I think they're just trying to line their own pockets. The Public Service Commission should be more lenient with them, you know?! 
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. Maybe they should've gone for a more sustainable energy solution in the first place 
?
... like, I get that inflation is real and all, but 3.5% and 4.4%? That's just a bit steep for me. And what really gets my goat is when people are already struggling to pay their bills, it's not fair to hit them with even more 
. We need to make sure our energy companies are working for us, not the other way around 
.