By Connor Hart
Consolidated Edison is seeking to increase its rates and said the higher prices would allow the utility to build out new electric infrastructure.
The company said Friday that its proposed electric- and gas-rate plans support economic growth and development in New York City and Westchester County. Under the plan, ConEd would invest more than $21 billion over three years to build new infrastructure including transmission, substation and distribution facilities
It estimated these investments would require about $1.6 billion more in electric revenue and about $440 million more in gas revenue, resulting in an average electric-bill increase of around 11% and an average gas-bill increase of about 13%.
The investment plan, which is subject to approval by the New York State Public Service Commission, would require new rates for one year, effective on Jan. 1, 2026, the company said.
ConEd's investment plan additionally calls for updates to customer-affordability programs, as well as upgraded information-technology infrastructure and tools. It said the investments would help to fortify its energy systems, as extreme weather events become more frequent and severe.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
January 31, 2025 16:54 ET (21:54 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。