Electric and gas bills could be heading higher in the near future for Con Edison customers, as the utility asks New York regulators to approve a rate hike that would take effect at the start of 2026. According to ConEd, the average customer would pay nearly 11.5 percent more for electricity and nearly 13.5 percent more for natural gas. NBC New York’s Jessica Cunnington reports.
There's a new reason New Yorkers are worried about getting priced out of the city: Con Edison double-digit rate hikes on electricity and natural gas.
The utility company proposed rate hikes that would increase the average electric bill by nearly 11.5 percent more for electricity and nearly 13.5 percent more for natural gas. The proposed increase would start January 1 next year.
The state's Public Service Commission makes the final decision after an 11-month process.
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WATCH HEREOn Monday, Congressman Ritchie Torres asked Gov. Kathy Hochul, both Democrats, and the Department of Public Service Commission to reject Con Edison's proposal, accusing the company of overcharging customers. He said his office conducted it's own investigation comparing prices to National Grid.
"Both National Grid and Con Ed serve the same city, provide the same service, are bound by the same laws, and yet there's a 200% different in gas delivery," Torres said at a press conference.
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Con Edison said it's offered to meet with Torres many times on this issue and that delivery rates may vary for many reasons, like level of service and infrastructure serving the area.
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The company said the proposed higher rates will help fund investments in clean energy, build new infrastructure and expand support for low-income customers.
John Raskin with the Spring Street Climate Fund said a change in public policy would help avoid future increases for New Yorkers.
"The price of gas itself is not going up -- it's the price of people's Con Ed bills and it's because of infrastructure spending and that is something the New York Heat Bill would help with, and it has not yet passed," Raskin told NBC New York.
Meanwhile, customers hearing about the potential hike said they are worried about the impacts of a dramatic jump in their bills. Ahman Nofal is the manager at Latest Furniture on East Fordham Road in the Bronx, and he said he's worried about bills going up at work and his home in Westchester.
"In this economy we're in, any percentage will definitely hurt the businesses," Nofal said. "We try to survive, because a lot of businesses do close."
