ConEd to hike electricity rates by 9.1% and gas by 8.4% starting August; more increases slated for Jan. 2024

By Sarah Belle Lin Posted on July 21, 2023

Con Edison customers will see a 9.1% increase in their residential electricity bills rates starting August, following a new three-year plan established during Thursday’s regular meeting held by the New York State Public Service Commission. The rates will change in January 2024 and once again in January 2025.

More specifically, residential customers who use 600 kilowatts per hour per month would see an average total monthly bill increase of $14.44 or 9.1% in August, $7.20 or 4.2% starting January 2024, and $2.43 or 1.4% starting January 2025, according to the Public Service Commission announcement.