Your Con Edison bill is about to get even higher, and many New Yorkers are feeling the pinch! The Public Service Commission has given the green light for a rate hike affecting Con Edison customers, and it's sparking a lot of debate, especially with the ongoing affordability crisis in New York.
Here's the breakdown of what you can expect:
- Electricity: Your electricity bills are set to climb by 3.5% this year, followed by 3.2% in 2027 and 3.1% in 2028. For those living in New York City, this translates to an extra $6.88 on your monthly bill starting this year.
- Gas: Get ready for a bigger jump in your gas expenses. Expect a 4.4% increase this year, then 5.7% in 2027, and 5.6% in 2028. This means an average monthly increase of $10.67 for gas bills this year.
These new rates will actually be applied retroactively, meaning they'll start counting from January 1, 2026.
But here's where it gets controversial... Despite a year of discussions and pushback, many advocates and elected officials believe these increases are still too much for New Yorkers to handle. In fact, over 70 city and state officials sent a letter urging the Public Service Commission to reject this proposal altogether.
Think about this: According to AARP, a staggering 1 million Con Ed customers received notices last year about potential power shut-offs due to non-payment. This is a clear sign that many are already struggling to keep up with current rates. Bill Ferris from AARP voiced this concern, stating, "We just think it's not the time to [raise rates]. They should go back and figure out how to make this rate lower because clearly the people in the Con Ed service territory can't afford their bills."
Con Edison, on the other hand, maintains that these revised increases are in line with the current rate of inflation. It's worth noting that their original proposal from over a year ago was significantly higher. Gas customers could have seen a 13% increase (about $46.42 monthly), and electricity users a whopping 19% jump (around $26.60 monthly) in 2026. That original plan garnered over 20,000 public comments, with the vast majority expressing opposition.
And this is the part most people miss... The new, approved proposal has managed to gain support from environmental groups, New York City's government, and 40 Westchester municipalities. The Public Service Commission highlighted that this outcome is the result of extensive negotiations, with a reduction of 87% from Con Edison's initial 2026 rate request. James Denn, director of public affairs at the Public Service Commission, explained that parties involved reviewed evidence supporting a settlement that aims to invest in reliability, safety, and the clean energy transition while keeping costs in check.
Looking at the numbers, the Public Services Commission estimates this new hike will boost Con Ed's annual electricity revenues by $1.6 billion and natural gas revenues by an additional $440 million. For context, in the first nine months of 2025, Con Edison reported nearly $13 billion in total operating revenue, an almost 12% increase compared to the same period in 2024.
It's also important to remember that Con Ed bills have already risen by about $50 since 2022, according to an analysis by the Alliance for a Green Economy. Bill Ferris also pointed out that Con Ed cut power to nearly 200,000 households last year, and customers collectively owe around $1 billion in unpaid energy bills.
So, what do you think? Are these rate increases justified for necessary infrastructure and clean energy investments, or are they an unbearable burden on New Yorkers already struggling to make ends meet? Let us know your thoughts in the comments below!
