basis on which rate hikes are set.<\/a><\/p>\nThe PSC declared victory because the final increase was significantly smaller than Con Ed\u2019s initial request.<\/p>\n
![\"Con](\"https:\/\/www.newsbeep.com\/us-ny\/wp-content\/uploads\/2026\/01\/general-view-con-edison-truck-14442582.jpg\")
The first electrical hike \u2014 effective Jan. 1 \u2014 will bump up bills 3.9%, meaning an extra $4 per month for the typical New York City customer who uses 280kWh per month. Christopher Sadowski<\/p>\n
\u201cThe adopted joint proposal meets the legal requirement that the company continue to provide safe and adequate service at just and reasonable rates,\u201d Christian said.<\/p>\n
\u201cThe three-year rate plan is in the public interest. It is a forward-looking plan that benefits customers and includes provisions that further important state and Commission objectives, while keeping customer affordability first and foremost in mind.\u201d<\/p>\n
Other commissioners defended their action before the unanimous 7-0 vote.<\/p>\n
\u201cIt\u2019s a considerable reduction. {The increase] is in line with inflation,\u201d said Commissioner Denise Sheehan.<\/p>\n
\u201cOn balance we have to do this,\u201d said Commissioner James Alesi.<\/p>\n
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State taxes and property taxes combined account for about one-third of Con Ed\u2019s costs.<\/p>\n
The regulators said it\u2019s city and state elected officials who impose those taxes and they can change the tax structure to provide relief.<\/p>\n
Con Edison, in a statement released following the\u00a0vote, defended the approved rate hike as fair.<\/p>\n
\u201cNearly 9 million people who live, work, and travel through our service territory depend on Con Edison to deliver the nation\u2019s most reliable energy that keeps New York City and Westchester powered and moving,\u201d Con Ed said.<\/p>\n
\u201cWe work every day to strike the right balance, making critical investments in resilience and reliability while managing costs for customers. Our investment plan, shaped by an 11-month, inclusive process with the Public Service Commission and a broad range of stakeholders, balances the investments needed for resilient and reliable energy our customers need with customer costs.\u201d<\/p>\n
The Con Ed rate hike is a sensitive issue for Gov. Kathy Hochul, who is running for re-election and has made affordability a key part of her agenda.<\/p>\n
\u201cGovernor Hochul has been committed to driving down utility costs, which is why last February she directed the Department of Public Service to reject Con Ed\u2019s exorbitant rate request. DPS heeded her call and the plan approved by PSC today significantly reduced Con Ed\u2019s initial rate request by 87%,\u201d said\u00a0 Ken Lovett, the governor\u2019s senior communications advisor on energy and the environment.<\/p>\n
\u00a0\u201cThe governor has been clear that as a state we need to do more to keep rates down, which is why in her State of the State address last week, she unveiled a plan to hold energy companies accountable and ensure a reliable grid.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"New Yorkers are getting shocked again. State utility regulators approved a 10.4% hike on Con Edison electric and…\n","protected":false},"author":2,"featured_media":109073,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[1168,7442,57,9,24,55,54,56,37778,58],"class_list":{"0":"post-109072","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-york-city","8":"tag-con-edison","9":"tag-electricity","10":"tag-metro","11":"tag-new-york","12":"tag-new-york-city","13":"tag-new-york-city-headlines","14":"tag-new-york-city-news","15":"tag-ny","16":"tag-public-service-commission","17":"tag-us-news"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/109072","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=109072"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/109072\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/109073"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=109072"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=109072"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=109072"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
![\"A](\"https:\/\/www.newsbeep.com\/us-ny\/wp-content\/uploads\/2026\/01\/10471-story-mta-restoration-project-100141311.jpg\")
State utility regulators approved a 10.4% hike on Con Edison electric and gas bills over the next three years in the latest squeeze on residents\u2019 wallets. Georgett Roberts\/NY Post<\/p>\n