NEW YORK – Residents served by Consolidated Edison will experience increased gas and electricity costs following the approval of the company’s proposed rate hikes. The State Public Service Commission’s 4-1 vote permits Con Ed to implement gradual rate hikes over three years. By 2022, residential electric bills will rise by 13.5%. The electric rate will incrementally increase by 4.2% this year, followed by 4.7% and 4% in the consecutive years. Gas rates will surge by 25% within the same period, with increments of 7.5%, 8.8%, and 7.2% over the three-year span. The additional revenue will fund infrastructure investment and energy-efficient initiatives, according to Con Edison.
Empowering the Future: Commission Greenlights Con Ed Rate Increases
