New Yorkers’ Con Edison energy bills to increase by almost 10% starting Tuesday

August 2, 2023

Originally published in the Washington Examiner. Story by Nancy Vu.

New Yorkers are set to see their Con Edison gas and electricity bills increase as soon as Tuesday by 9%, and their rates will continue to increase into 2025, following the approval of a three-year rate plan greenlighted by the state’s Public Service Commission earlier this month.

The state’s regulatory committee approved a plan that would help the state move away from fossil fuels. However, customers will see their rates increase three times over the next two years as a result “to meet increased company costs,” according to a press statement.

“The forward-looking plan we have adopted — endorsed with stakeholder support by consumer groups, large business customers, and the largest municipality in the region — benefits customers and includes provisions that further important State and Commission objectives,” Commission Chairman Rory Christian said. “With today’s decision, Con Edison is required to pursue important energy efficiency initiatives among other progressive policies to advance the goals of New York State’s nation-leading climate change targets while mitigating bill impacts for most low-income customers, as part of New York’s nation-leading policy for energy affordability.”

Under the new plan, a customer using 600-kilowatt hours per month would see an average monthly bill increase of $14.44, or 9.1%, starting in August, according to a PSC analysis. The customer’s bill would increase again in January 2024 by another 4.2%, or an average of $7.20, and then again in January 2025 by another 1.4%, or $2.43. For those using 2930 kilowatt hours a month, a customer will see an increase of $17.28 in August of this year (8.4%), $14.90 in January 2024 (6.7%), and $15.61 in January 2025 (6.6%).

The plan requires Con Edison to advance the state’s clean energy goals, including discontinuing oil-to-gas conversion incentives, implementing more aggressive natural gas leak management, and pursuing electrification and cost-effective alternatives to “traditional infrastructure investment.” The commission also requires Con Edison to implement energy efficiency initiatives, along with nonwire and nonpipeline alternatives, while updating aging infrastructure and building out electric reliability and gas pipeline safety programs. The plan also aims to help low-income customers mitigate the bill increases.