Con Edison unit CECONY reaches steam rate plan proposal with NY regulators for 2026-2029

Con Edison’s utility unit, Con Edison of New York, filed a joint proposal for a three-year steam rate plan starting Nov. 1, 2026.

• The plan targets a 3.5% annual total bill impact, with shaped base rate increases of $26.6 million, $27.5 million, and $28.5 million.
• Capital spending is set at $143 million in year one, $127 million in year two, and $126 million in year three.
• The authorized return on common equity is set at 9.5%, with a 48% common equity ratio in the capital structure.
• The proposal awaits a New York Public Service Commission decision; any delayed billing shortfall would be recovered through a surcharge.