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CECONY proposes $94M annual rate increase over three-year steam plan subject to PSC approval
EDConsolidated Edison Inc
On September 4, 2026, Consolidated Edison Company of New York (CECONY) entered into a joint proposal for a steam rate plan covering November 1, 2026 through October 31, 2029, subject to approval by the New York State Public Service Commission. The three-year plan includes base rate increases totaling $94 million annually across years one through three, with shaped bill impacts capped at 3.5% per year. Capital expenditures are projected at $143 million in Year 1, declining to $126 million by Year 3. The authorized return on common equity is set at 9.5 percent, and the weighted average cost of capital ranges from 7.07 percent to 7.19 percent over the period. Negative revenue adjustments for performance shortfalls range from $4.3 million to $4.7 million annually. Consolidated Edison operates in the electric, gas, and steam utility industry.