Starting in August, Con Edison customers will experience a 9.1% surge in residential electricity bills due to a newly established three-year plan by the New York State Public Service Commission. The rates will also undergo changes in January 2024 and January 2025.

Specifically, households using 600 kilowatts per hour monthly will witness a $14.44 (9.1%) increase in August, $7.20 (4.2%) in January 2024, and $2.43 (1.4%) in January 2025. Gas users, consuming an average of 100 therms monthly, will encounter a rise of $17.28 (8.4%) in August, $14.90 (6.7%) in the second year, and $15.61 (6.6%) in the third year.

These rate hikes address increased costs, capital improvements, and system reliability, with rates nearly 60% lower than the initial proposal. Despite opposition, the plan moves forward with implications for New Yorkers and the energy landscape.

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