Westchester County Executive Ken Jenkins has called for an in-person public hearing to be held in Westchester on Con Edison’s rate cases that ask for an increase of 11.4% in electricity rates and 13.3% for gas in 2026.
Jenkins said that what Con Ed wants is a blatant cash grab and he will be participating in the Public Service Commission’s online hearing anticipated to take place early in April. Beyond that, Jenkins says residents and business owners in Westchester should have a direct platform via a hearing held in Westchester to voice their concerns and get answers.
“The Public Service Commission should pull the plug on this proposal and demand a plan that actually works for consumers, not just Con Ed’s bottom line,” Jenkins said. “While we all recognize the need for reliable energy and infrastructure improvements, passing excessive costs onto consumers, especially without transparency and accountability, is simply unacceptable.”
Con Ed’s annual report for 2024 shows revenues of $15.25 billion and net income of $1.82 billion.
When the annual report was released, Tim Cawley, chairman and CEO of Con Edison said, “We are optimistic about growth and are well positioned to continue to meet demand to power the electrification of buildings and transportation throughout our service territory with increased capital investments in grid infrastructure. This was underpinned by big wins last year, such as breaking ground and progressing construction of key substations and advancing a pair of new transmission lines under our Reliable Clean City program. We anticipate demand for electrification to grow steadily in 2025, driven by an increase in new construction downstate combined with policymaker’s requirements for clean heat in new commercial and residential buildings.”
Con Ed filed the new rate cases seeking electric rate increases that would total more than $1.6 billion for the 12-months ending Dec. 31, 2026. That increase would apply to rates in the portion of the bill covering the delivery charges for electricity. The rate for the electricity itself can vary up or down from month to month.
Con Ed said that new investments in electric system infrastructure, property taxes, depreciation, and employee pensions are among the prime drivers of the need for higher rates. Con Ed also is looking for an increase to its return on equity to 10.1%, which would give it an additional $190 million.
Con Ed’s gas rate case is seeking an increase of approximately $440 million in what customers would pay to have their gas delivered. Gas rates, like those for the electricity itself, can vary from month to month. The company also is asking for a return on equity of 10.1% for the gas side of the business that it says will bring in an extra $66 million for the year.
“Westchester families and businesses deserve to be heard. If Con Edison truly believes this rate hike is justified, they should face the public and explain their reasoning,” Jenkins said.
