Gov. Kathy Hochul fights proposed Con Edison rate hikes, calls for audit of management compensation
NEW YORK -- Gov. Kathy Hochul says Con Edison needs to get back to the drawing board after proposing significant double-digit increases for natural gas and electric bills.
The governor announced Tuesday she is fighting against the utility's rate hike, which would increase the average electric bill 11.4% and the average natural gas bill 13.3%, saying, "The burden is already heavy."
"I'm calling on the Department of Public Service to reject Con Ed's proposal for these exorbitant rate increases," Hochul said.
She said she is sending a letter to the chair and CEO of the New York State Public Service Commission.
Hochul said she's also directing the DPS to conduct a first-of-its-kind audit of Con Ed's management compensation.
"I want to make sure that they're being responsible in how they use our ratepayer dollars," she said.
New Yorkers concerned about proposed Con Ed rate hikes
On Tuesday morning, the Queens Borough Cabinet livestreamed a meeting in which Con Ed presented ways customers can help lower bills.
Shortly after, Queens Borough President Donovan Richards applauded Hochul's stance, pointing out long-standing Con Ed infrastructure issues throughout the borough.
"Just last week, we took outages consistently in Rosedale," he said. "For you to ask residents, everyday New Yorkers, to come back, and Queens residents especially, to escalate their bills and then the infrastructure not be in place or something, that is unacceptable."
The hike is also a big concern for seniors.
"Eighteen percent of the city's older adults live in poverty, below the poverty line," AARP New York State Director Beth Finkel said, "and these high utility rates are contributing to it."
According to the DPS, the process to determine if it will approve a rate increase takes about a year and will include a public hearing.
