Here’s a harsh reality for New Yorkers: utility bills are about to get even more expensive. Despite fierce public backlash and growing concerns over affordability, regulators have approved a rate hike for Con Edison customers. And this is the part most people miss—it’s not just a small increase. Electricity bills will rise by 3.5% this year, 3.2% in 2027, and 3.1% in 2028, while gas bills will jump by 4.4% this year, 5.7% in 2027, and 5.6% in 2028. For the average New York City resident, that translates to an extra $6.88 per month for electricity and $10.67 for gas starting this year. But here’s where it gets controversial—these increases are retroactive to January 1, 2026, meaning customers will be paying more for energy they’ve already used.
This decision comes after over a year of negotiations and widespread opposition. More than 70 city and state officials signed a letter urging the Public Service Commission to reject the proposal, arguing that New Yorkers are already struggling to keep up with current rates. According to AARP, nearly 1 million Con Ed customers received shut-off notices last year due to unpaid bills—a stark reminder of the financial strain many are facing. Bill Ferris, New York legislative representative for AARP, bluntly stated, ‘That is way too high. They should go back and figure out how to make this rate lower because clearly, the people in the Con Ed service territory can’t afford their bills.’
Con Edison defends the hike by claiming it aligns with inflation, but critics aren’t buying it. The utility company’s original proposal was even more drastic, calling for a one-time increase of 13% for gas and 19% for electricity—a move that sparked over 20,000 public comments, mostly in opposition. While the revised plan is less severe, it still feels like a slap in the face for families already struggling to make ends meet.
But here’s the real question: Is this rate hike necessary, or is Con Ed prioritizing profits over people? The Public Service Commission argues that the increase will fund investments in reliability, safety, and clean energy. Yet, Con Ed’s financial statements reveal the company reported nearly $13 billion in operating revenue for the first nine months of 2025—a 12% increase from the same period in 2024. With customers already owing around $1 billion in unpaid bills and nearly 200,000 households facing power shut-offs last year, it’s hard not to wonder if this hike is fair.
The new rates have been endorsed by environmental groups, New York City’s government, and 40 Westchester municipalities, but many advocates remain unconvinced. James Denn, director of public affairs at the Public Service Commission, noted that the majority of parties involved secured an 87% reduction from Con Ed’s original request. Still, for families already paying $50 more per month since 2022, any increase feels like too much.
So, what do you think? Is this rate hike a necessary step toward a cleaner, more reliable energy future, or is it an unfair burden on struggling New Yorkers? Let us know in the comments—this is a conversation that needs to be had.
