NY1: Con Edison asking for gas and electric price hikes in 2023

BY SPECTRUM NEWS STAFF

NEW YORK — Con Edison has asked the state for permission to raise gas and electric prices next year, citing the need to cover costs including system upgrades and renewable energy investments.

The utility company hopes to hike electric and gas bills by 11.2% and 18.2%, respectively, it said in a statement provided to NY1. That increase would amount to around $1.2 billion more in electric revenue and $500 million in gas revenue, the company said. 

The price hikes would “vary by customer class,” the company said in a press release, noting in a separate document that its customer classes include residential units and commercial properties.

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