Con Edison’s Rate Hikes Spark Backlash from Lawmakers, Advocates, and Property Owners
For Con Edison customers, the financial burden of keeping the lights on may be about to grow. The utility’s latest proposed rate hike, if approved by the Public Service Commission, would increase electric bills by an average of 11.4% and gas bills by 13.3% starting in 2026.
This proposal has sparked widespread concern from residents, business owners, and property managers. With affordability already a major issue in New York, these steep hikes raise serious questions about the impact on both households and the broader housing market. The main driver of these increases are not the cost of the electricity or gas itself, but so-called “delivery charges” that now run several times the cost of the actual energy usage.
The frustration over these rising costs was on full display at a recent press conference in White Plains, where more than 100 Westchester residents, lawmakers, and advocates gathered to demand action. The event, led by Senator Shelley Mayer and other elected officials, highlighted the financial strain these increases will place on working families and businesses. The event was attended by Tim Foley, CEO of the Building and Realty Institute (BRI), among others. As utility expenses climb, maintaining and upgrading rental housing becomes even more challenging—impacting affordability and housing quality across the region.
The BRI is not standing idly by. As a staunch advocate for property owners, co-op boards, and building managers, the organization is preparing to take its case to the Public Service Commission (PSC). The BRI will push for greater transparency and a more balanced approach to rate increases—one that does not unfairly shift the burden onto property owners and renters. Stay tuned for updates as we continue to fight for fair and sustainable energy policies.