Con Edison has filed plans with the New York State Public Service Commission to increase gas and electricity rates by 11.4% and 13.3% respectively, starting January 1, 2026. The utility aims to raise $1.6 billion for electric delivery system upgrades and $400 million for gas infrastructure improvements to meet the increasing demand driven by electrification and new development.
Con Edison has filed plans with the state to raise gas and electricity rates in 2026, aiming to boost revenue for clean energy investments and infrastructure upgrades.Thank you for subscribing!The proposal, submitted to the New York State Public Service Commission on Friday, calls for an average 11.4% increase in electric bills and a 13.3% increase in gas bills starting Jan. 1, 2026. The utility giant says it is raising rates to generate an additional $1.
Con Edison, which provides electricity to customers across the five boroughs and Westchester County, said it is upgrading its infrastructure to meet rising demand driven by building and transportation electrification, along with new development. The utility said more customers are switching to heat pumps and electric vehicles in alignment with New York State’s climate laws, and the proposed investments will ensure the grid is prepared for this transition.
“Con Edison is proud to serve more than 9 million people in New York City and Westchester County, supporting the vital economic, health, and transportation networks that keep our region thriving,” said Matthew Ketschke, president of Con Edison, in a statement. “Our proposed investment plan will support critical work and investments in reliability, resiliency and clean energy infrastructure to meet the high expectations of our customers.
Con Edison acknowledged the economic difficulties many customers face and is seeking additional funding to expand enrollment in its Energy Affordability Program . In 2024, Con Edison provided more than $300 million in bill discounts to those enrolled in the EAP.
RATE HIKE RENEWABLE ENERGY INFRASTRUCTURE ELECTRICITY NATURAL GAS
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