NYC's Con Edison Rates to Rise Modestly in 2026 Amid Trump-Mamdani Pressure
The city's largest utility company will see its electricity rates increase by 3.5% starting next year, with gas bills rising by 4.4%, according to a deal approved by New York state regulators. The rates represent a far cry from Con Edison's original proposal of a 13% one-time hike, which would have raised monthly electric bills by $26.60.
The modest rate increase came after President Donald Trump and Mayor-elect Zohran Mamdani expressed public concern over the rising costs, with both leaders emphasizing the need for lower utility rates. Trump noted that despite fuel price reductions, Con Edison's rates remain unchanged, while Mamdani concurred that the company needs to reduce its prices.
The deal reached between Con Edison and state regulators reflects the significant pushback from consumers and advocacy groups who opposed the original rate hike proposal. The Public Service Commission received over 20,000 public comments opposing the increases, with many citing concerns about affordability and the strain it would put on low-income households.
For New Yorkers, the modest rate increase translates to a $4 monthly increase in electric bills next year. Gas customers will face a similar increase, but at a lower rate. The deal also includes provisions aimed at making energy more affordable for all residents, including investments in resilience and reliability.
However, experts caution that the current system rewards capital expenditures over customer affordability, with Con Edison's profits rising by 66% over the last decade despite increasing costs for customers. The repeal of the "100-foot rule," which allowed utilities to pass on costs related to new gas hookups, remains pending and is expected to have a significant impact on future rate hikes.
The deal has been welcomed by some groups, including the Alliance for a Green Economy and the City of New York, but many others remain critical of the modest increase, with one resident warning that further rate hikes could lead to "an angry mob" outside Con Edison's offices.
The city's largest utility company will see its electricity rates increase by 3.5% starting next year, with gas bills rising by 4.4%, according to a deal approved by New York state regulators. The rates represent a far cry from Con Edison's original proposal of a 13% one-time hike, which would have raised monthly electric bills by $26.60.
The modest rate increase came after President Donald Trump and Mayor-elect Zohran Mamdani expressed public concern over the rising costs, with both leaders emphasizing the need for lower utility rates. Trump noted that despite fuel price reductions, Con Edison's rates remain unchanged, while Mamdani concurred that the company needs to reduce its prices.
The deal reached between Con Edison and state regulators reflects the significant pushback from consumers and advocacy groups who opposed the original rate hike proposal. The Public Service Commission received over 20,000 public comments opposing the increases, with many citing concerns about affordability and the strain it would put on low-income households.
For New Yorkers, the modest rate increase translates to a $4 monthly increase in electric bills next year. Gas customers will face a similar increase, but at a lower rate. The deal also includes provisions aimed at making energy more affordable for all residents, including investments in resilience and reliability.
However, experts caution that the current system rewards capital expenditures over customer affordability, with Con Edison's profits rising by 66% over the last decade despite increasing costs for customers. The repeal of the "100-foot rule," which allowed utilities to pass on costs related to new gas hookups, remains pending and is expected to have a significant impact on future rate hikes.
The deal has been welcomed by some groups, including the Alliance for a Green Economy and the City of New York, but many others remain critical of the modest increase, with one resident warning that further rate hikes could lead to "an angry mob" outside Con Edison's offices.
. I mean, 3.5% isn't exactly going to break the bank or anything, but still, it's an increase nonetheless 
. And yeah, I get why Trump and Mamdani were all up in arms about it – who doesn't want their bills to be lower, right? 
But what really gets me is that Con Edison got a significant chunk of its profits from capital expenditures last decade... like, 66%?! That's crazy 
. And now we're supposed to just be okay with the fact that our energy rates are going up a little bit because the system says so? Nope 
. There's gotta be better ways to make this work, you know?
I'm already struggling to make ends meet, and now they're gonna raise it by 3.5% in 2026? It's not like fuel prices are still high or anything... I mean, I know the city's trying to make energy more affordable for everyone, but this is just a Band-Aid solution 
. And what about the people who can't afford the increased bills? They're gonna get left behind, plain and simple 
. The fact that Con Edison's profits are rising by 66% over the last decade? That's just disgusting 
i know some ppl were really worried about that 13% hike and i was like 'no wayzz' lol Trump and Mamdani did a great job putting pressure on Con Edison to lower the prices 
we gotta support our city leaders, right? 
anywayz, at least they're making efforts to make energy more affordable for everyone, like investments in resilience and reliability 
that's def something to look forward to! 
a $4 monthly increase might seem small but it adds up fast 
and what's with the profits rising 66% in a decade? isn't that just profiteering at the expense of customers? 
. 3.5% might not seem like a lot, but $4 is still extra money for a lot of families 
. And you're right, it's crazy how Con Edison's profits have skyrocketed in the last decade while we're still struggling to make ends meet 
.
. It's not an easy job balancing utility companies' interests with consumers' concerns. And let's be real, $4 might seem small now, but it adds up over time 
. Still, it's a step in the right direction, and I hope we can keep pushing for more affordable energy options in the future 
think its funny how ppl freak out over 3.5% electricity rate hike. for context, i was on a plane last year and they served me a bag of peanuts for like $7. meanwhile, con edison is giving us extra power for pennies. 
. I'm all about incremental progress, but sometimes you gotta think outside the box (or in this case, the utility bill). Can't we imagine a future where energy is accessible to everyone, regardless of income? 
It's time to rethink our values and prioritize people over profits 
so they came down from 13% to 3.5% it's like the whole city is watching them 
and trump & mamdani did their job, I guess 
but what about all those profits of con edison? shouldn't that money go to customers instead of shareholders? 
it's all about the benjamins, right? 
, but sometimes I feel like we've lost track of what's really important – affordability! I mean, 3.5% increase is still a hike, and for low-income households, it can be the difference between making ends meet and not. Con Edison's got some serious explaining to do 
. We need to keep pushing for affordable energy and not let corporations get too comfy with the status quo 
.
. and what's up with the "100-foot rule" repeal still pending? that sounds like a money grab to me 
. but like dont think this means the problem is solved or watever... probs just a small step in the right direction 
. still gotta keep an eye on that 100ft rule tho 
anyway, im all for lower utility rates but like, come on ppl, we gotta be realistic 
btw, what r these "resilience and reliability" things? sounds like some fancy tech talk to me