Con Edison is significantly scaling back a rate hike proposal for its utility customers in New York City and Westchester County.
Con Edison first proposed a nearly 11 and a half percent rate increase for electric customers and a more than 13 percent increase for gas customers. That drew a lot of backlash from officials including Governor Kathy Hochul.
"go back to the drawing board and figure this out but you are not going to get that kind of rate increase from our hardworking New Yorkers, particularly our seniors."
Con Ed did got back to the drawing board and now is proposing a two-point-eight percent electric increase and 2 percent increase in gas rates. The rate hike if approved by the Public Service Commission would go into effect at the start of the new year.