Con Edison seeks double-digit hikes in utility rates amid customer struggles

In February 2025, Con Edison proposed substantial rate increases for their electric and natural gas services, which could affect over 3 million homes and businesses in New York City and its suburbs. The proposed plans suggest an average increase of 11.4% in electric bills and 13.3% in natural gas bills. Con Edison argues that these hikes are necessary to build and maintain a modern power grid, as highlighted by typical bills, which indicate high delivery costs adding to consumer frustration. Many residents have expressed concern over the affordability of these already skyrocketing utility costs, warning that they could push vulnerable households to make tough choices between essentials. Governor Kathy Hochul has publicly contested these proposed hikes, insisting that Con Edison must reevaluate their plans given the financial strain already imposed on consumers. She emphasized the need for the Department of Public Service to reject excessive rate increases and is urging a thorough audit of Con Edison’s management compensation to ensure that consumer dollars are used responsibly. Her statements reflect widespread angst among New Yorkers about skyrocketing utility rates, particularly affecting elderly and low-income households, who are already living below the poverty line. Advocates such as AARP New York have called for diligent scrutiny of the proposed rate hikes, which they believe warrant examination to protect those already struggling to pay their current bills. With nearly 500,000 households behind on their utility payments, the potential for these increases to exacerbate existing financial hardships is significant. The New York State Public Service Commission is expected to review the proposal over the coming year, with public hearings allowing residents to voice their concerns. As the pressure mounts on Con Edison to reconsider its proposed rate hikes, community leaders are collaborating to address long-standing infrastructure issues that contribute to frequent outages in certain neighborhoods. New York's residents might face a tumultuous year ahead as various stakeholders, including state government, utility companies, and customer advocates engage in discussions regarding the future of utility rates and infrastructure that supports everyday life in one of the largest metropolitan centers in the United States.