How Con Edison’s $2.35 Billion Investment Impacts Your NYC Power Bill?

Con Edison has announced that power bills for residents and businesses in New York City will increase this summer, reflecting a nationwide rise in electricity prices coupled with growing demand.

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On May 21, 2025, Con Edison revealed that commercial customers in NYC can expect nearly a 10% increase in summer power bills, while small businesses will face about an 8% rise. Residential customers will see a smaller hike of around 2.7% on average from June through September compared to last summer. In contrast, residential bills in Westchester County may see a slight decrease of 1.1%.

The price increases follow a national trend highlighted by the U.S. Energy Information Administration, which noted electricity prices have risen faster than inflation since 2022 and are projected to continue increasing through 2026. The Pacific Coast and Mid-Atlantic regions have experienced some of the largest jumps in retail electricity costs.

Residential and Business Power Bills to Increase, Says Con Edison

To meet this growing demand, Con Edison has invested roughly $2.35 billion since last summer upgrading New York City’s power distribution system. These improvements include installing new substation equipment, transformers, underground cables, open wire spans, and poles to ensure reliable service amid hotter, longer summers.

“Con Edison’s ongoing investments help ensure safe and reliable power service, even as demand surges during extreme weather,” said Con Edison President Matthew Ketschke.

Electricity bills include generation, transmission, distribution, taxes, and fees. For instance, an average commercial customer using 10,800 kWh monthly with a 30 kW peak demand will see a 9.8% increase, while small businesses using 583 kWh can expect an 8.1% rise.

Despite a recent decline in fuel prices, electricity rates continue to climb due to pandemic-related supply chain issues and geopolitical factors like the Russia-Ukraine conflict, further impacting energy costs nationwide.

As the summer approaches, New Yorkers should prepare for these changes as Con Edison works to modernize the grid and keep power flowing safely and efficiently.

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