NEW YORK - Consolidated Edison customers will pay more for gas and electricity now that the company's proposed rate hikes have been approved.
The State Public Service Commission voted 4-to-1 on Thursday to allow Con Ed to raise rates over the next three years.
Residential customers will pay 13.5 percent more for electric by 2022.
The electric rate will rise 4.2 percent this year, 4.7 percent next year, and four percent in 2022.
Gas rates are going up 25 percent over the next three years.
They will rise 7.5 percent this year, 8.8 percent next year, and 7.2 percent in 2022.
Con Edison says the added revenue will allow it to invest in gas and electric infrastructure, as well as fund energy efficient programs.