Con Ed Looks To Hike Rates Again, This Time Over 11%

by CrownHeights.info

Con Edison has published its plans to ask for a rate hike for its electricity and gas it provides for New York City this coming year.

“Con Edison is committed to affordability for customers who need help and has recently increased discounts to low-income customers,” the company wrote in a press release. “The company is also implementing energy efficiency programs for low- and moderate-income customers.”

The proposal seeks an additional $1.2 billion in revenue to upgrade and operate the company’s electric delivery system and $500 million for the gas system.

If the proposal is approved, the overall customer electric bills would rise 11.2 percent while overall customer gas bills would increase 18.2 percent. The increases will vary by customer class.

The increase mirrors record inflation throughout the country, and would put a deep dent in the pockets of homeowners and landlords throughout New York City and Westchester.