{"id":111426,"date":"2026-01-24T20:27:54","date_gmt":"2026-01-24T20:27:54","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/111426\/"},"modified":"2026-01-24T20:27:54","modified_gmt":"2026-01-24T20:27:54","slug":"ny-caps-con-ed-revenue-increases-citing-affordability","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/111426\/","title":{"rendered":"NY caps Con Ed revenue increases, citing affordability"},"content":{"rendered":"<p data-uri=\"www.audacy.com\/_components\/paragraph\/instances\/cmkq0b01w000e01ucxe4krnqt@published\" data-editable=\"text\" class=\"paragraph paragraph--station\">NEW YORK (BLOOMBERG) \u2014 Consolidated Edison Inc. can raise revenues by just 2.8% per year for three years, under an agreement adopted by New York regulators Thursday.<\/p>\n<p data-uri=\"www.audacy.com\/_components\/paragraph\/instances\/cmkq0drf3001a3b7v4vjlwgnb@published\" data-editable=\"text\" class=\"paragraph paragraph--station\">The deal between Con Ed, consumer advocates and other parties will raise the utility\u2019s revenues by $234 million in the first year and more than $400 million in each of the next two years \u2014 while capping increases in customer bills at the rate of inflation, according to a statement by the Department of Public Service<\/p>\n<p data-uri=\"www.audacy.com\/_components\/paragraph\/instances\/cmkq0drgd001b3b7vszbu0mmw@published\" data-editable=\"text\" class=\"paragraph paragraph--station\">Affordability was a key consideration for regulators, as power prices surge to record highs across the country. The Trump administration recently\u00a0<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-01-15\/trump-to-direct-key-us-grid-operator-to-hold-emergency-auction\" rel=\"nofollow noopener\" target=\"_blank\">pushed<\/a>\u00a0for an emergency wholesale electricity auction to limit data center impact on customer bills.<\/p>\n<p data-uri=\"www.audacy.com\/_components\/paragraph\/instances\/cmkq0dri7001c3b7v3vhdbzwy@published\" data-editable=\"text\" class=\"paragraph paragraph--station\">While the rate increase is 85% lower than Con Ed had initially sought, it reflects a return on equity of 9.4%.<\/p>\n<p data-uri=\"www.audacy.com\/_components\/paragraph\/instances\/cmkq0drje001d3b7vw8mgxpp0@published\" data-editable=\"text\" class=\"paragraph paragraph--station\">Con Ed\u2019s rate case stretched over much of the previous year, with the company initially proposing to increase electric bills by 11.4%. New Yorkers crowded public meetings to oppose a big rate hike and Governor Kathy Hochul even called on regulators to reject the company\u2019s proposal.<\/p>\n<p data-uri=\"www.audacy.com\/_components\/paragraph\/instances\/cmkq0drlx001f3b7vwz8sda5r@published\" data-editable=\"text\" class=\"paragraph paragraph--station\">Con Ed shares fell as much as 2.5% Thursday in New York.<\/p>\n<p data-uri=\"www.audacy.com\/_components\/paragraph\/instances\/cmkq0iket002s3b7vnznxb7l0@published\" data-editable=\"text\" class=\"paragraph paragraph--station\">More stories available on bloomberg.com.<\/p>\n<p>\n          Featured Image Photo Credit: Bruce Bennett\/Getty Images\n        <\/p>\n","protected":false},"excerpt":{"rendered":"NEW YORK (BLOOMBERG) \u2014 Consolidated Edison Inc. can raise revenues by just 2.8% per year for three years,&hellip;\n","protected":false},"author":2,"featured_media":111427,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39],"tags":[9,24,63,134,136,135],"class_list":{"0":"post-111426","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-staten-island","8":"tag-new-york","9":"tag-new-york-city","10":"tag-nyc","11":"tag-staten-island","12":"tag-staten-island-headlines","13":"tag-staten-island-news"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/111426","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=111426"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/111426\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/111427"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=111426"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=111426"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=111426"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}