Gothamist
A non-profit newsroom, powered by WNYC.
Gothamist
Listen Live
News
Trump, Mamdani go after Con Ed rate hikes as NY agrees to modest increase
By
Rosemary Misdary
and
David Giambusso
Published Nov 27, 2025
Share
FacebookTwitterRedditEmail
Never miss a story
Email address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .
Wikimedia Commons
By
Rosemary Misdary
and
David Giambusso
Published Nov 27, 2025
Share
FacebookTwitterRedditEmail
We rely on your support to make local news available to all
Make your contribution now and help Gothamist thrive in 2026. Donate today
Gothamist is funded by sponsors and member donations
One of the unhappiest places in New York City during President Donald Trump's and Mayor-elect Zohran Mamdani's White House lovefest last week was the Consolidated Edison Building.
Two of America’s best-known political leaders — who are diametrically opposed on nearly everything — announced to the world that they found common ground in demanding the city utility giant bring its rates down.
“We've gotten fuel prices way down, but it hasn't shown up in Con Edison,” the president said. “ We have to get Con Edison to start lowering the rates.”
Mamdani concurred: "Absolutely."
But before the world’s two most influential New Yorkers met that day, Con Ed had already hammered out a deal with New York state to boost its rates, starting in 2026.
For electricity customers, rates will go up by 3.5% 2026, 3.2% for 2027 and 3.1% for 2028, according to a summary of the agreement between Con Ed and the state. For New York City residents, this adds up to about a $4 monthly increase next year.
Gas rates will go up by 4.4% next year, 5.7% in 2027 and 5.6% in 2028. Next year’s monthly bills will see an average increase of $10.67. In the second year, bills will go up by another $14.38, and in 2028 customers will have to pay $15.08 more every month.
Still, that’s significantly less than Con Ed had asked for when it filed its new rate case with the Public Service Commission in January. The original proposal for a one-time hike to take effect in 2026 would have raised gas bills by an average of roughly 13% or $46.42 per month. Electric bills would have increased by about 19% or an additional $26.60 per month.
After receiving a record 20,000 public comments on the rate-hike requests — mostly in opposition — Con Ed and the Public Service Commission lowered the request for additional gas revenue by about 60% and by about 34% for electricity.
“We recognize affordability is a critical issue and work every day to balance the investments needed for resilience and reliability with customer costs,” Con Ed spokesperson Jamie McShane said immediately after the White House meeting last week. “We welcome the opportunity to partner with the mayor-elect on solutions that make New York affordable for everyone.”
While advocates fought for no increases in energy bills, many groups supported the new rates when they were announced earlier this month, including the Alliance for a Green Economy, the City of New York, the New York Power Authority and Amtrak.
But New Yorkers, who have seen supply costs increase substantially over the last year, voiced outrage in their comments.
“If you increase rates any more, I will not be able to have electricity at all. I will burn up during the summer; freeze in the winter and work by candlelight, you greedy a-- backwards sorry excuse for a company,” Lauren Boudreau wrote in the public comments. “Do you want an angry mob on your hands? This is how you get one.”
Since 2022, monthly Con Ed gas bills have risen around $50, according to an analysis by Alliance for a Green Economy — all while profits rose by roughly 66% over the last decade. A state-guaranteed return on equity for Con Ed investors is baked into every customer's bill. That system tends to reward capital expenditures.
According to Con Ed’s original gas case filings, the utility's largest capital expenditure is related to new gas hookups. Ratepayers collectively pay when new gas customers are connected to the gas system.
During the last legislative session, state lawmakers repealed the "100-foot rule" where utilities say gas hookups are "free" if a space is within 100 feet of a pipeline. But cost is simply passed on to all ratepayers to the tune of about $200 million a year, according to the New York League of Conservation Voters.
The repeal bill, which Con Ed opposed when it was passed in June, is still waiting for Gov. Kathy Hochul's signature. The governor's office responded that it will review the legislation.
Other expenses are tied to replacing leak-prone pipes and maintaining the aging gas system, which is due for retirement by the end of the next decade under the state climate law.
”It's not that the cost of gas is going up, it's just that we're all paying for the extra infrastructure,” said Kim Fraczek, director of Sane Energy Project. “The governor is really saddling Con Edison customers with really hefty rate hikes just because she won't sign the 100-foot rule into law."
According to the city comptroller’s office, about 30% of residents cannot afford their energy bills. In the last five years, approximately 3.5 million households have been behind on bills. Nearly one-quarter of households have had their power cut.
“The utility bills are already incredibly high especially in summer and winter when it’s needed most,” wrote Astoria customer Eli Lind. “This is not an optional expense. Between utilities, rent and groceries, the non-negotiable cost of living is putting a strain on incomes and pushing people out.”
Tagged
Health and Science
Politics
energy
new york city
Rosemary Misdary
Rosemary is health & science reporter. Got a tip? Email [email protected] or Signal 646-544-9524.
Read more
David Giambusso
David is the editor of the Day-of desk. Got a tip? Email [email protected].
Read more
Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
MORE news
Dump truck driver hits and kills cyclist on 34th Street in Midtown, NYPD says
It's the latest in a string of hit-and-run deaths in the city in recent months.
By
Liam Quigley
Published Sep 28, 2026 at 4:15 p.m. ET
New ingredient mandated for Latin American kitchen, restaurant plates in NJ
The Garden State now requires that corn masa dough and flour made and sold in the state be fortified with folic acid.
By
Arya Sundaram
News
New ingredient mandated for Latin American kitchen, restaurant plates in NJ
The Garden State now requires that corn masa dough and flour made and sold in the state be fortified with folic acid.
By
Arya Sundaram
A Brooklyn jail cell filled with smoke. The emergency button failed, a lawyer said.
By
Samantha Max
Crews launch tunnel machines to dig first new Hudson River rail tunnels since 1910
By
Michael Sol Warren
NYC nor’easter dries up after weather service reports minor flooding
By
Ramsey Khalifeh
Never miss a story
Catch up on the most important headlines with a roundup of essential NYC stories, delivered to your inbox daily.
Sign upEmail address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .