Governor Kathy Hochul is taking a hard stance against soaring utility costs, directing the New York State Department of Public Service to reject Con Edison’s proposed rate hikes and launching a statewide audit of utility executive salaries.
In a letter to Public Service Commission Chair and Department of Public Service CEO Rory Christian, Hochul called for the rejection of Con Ed’s proposal, which seeks to increase electricity rates by 11.4% and natural gas rates by 13.3%. She described the request as an unfair burden on New Yorkers already struggling with rising costs.
“The cost of living is too damn high, and New Yorkers need more money in their pockets,” Hochul said. “Utility companies shouldn’t be jacking up costs unnecessarily—especially if they’re paying their own staff too much.”
To address broader concerns about rate-setting practices, Hochul also ordered a first-of-its-kind audit of compensation for non-union management employees across all utility companies in the state. The audit aims to determine whether ratepayer funds are being used responsibly and to prevent excessive executive compensation from driving up consumer bills.
In her letter, Hochul reminded state regulators that her administration has worked to reverse past practices of diverting ratepayer revenue for government budget relief. Instead, her administration has allocated more than $500 million to assist utility customers, reducing arrears and expanding affordability programs.
Advocates praised the governor’s decision, emphasizing its importance for low- and middle-income New Yorkers. AARP New York State Director Beth Finkel applauded Hochul for standing up to rate hikes, particularly for seniors on fixed incomes. Similarly, the Community Service Society of New York and Assemblymember Didi Barrett pointed to the unsustainable nature of repeated double-digit utility rate increases.
Hochul’s broader affordability agenda includes expanding energy assistance programs, creating tax relief initiatives, and providing direct financial support to low- and middle-income residents. The audit of utility management salaries will further inform future rate cases, ensuring that New Yorkers are not overpaying for essential services.
With the Public Service Commission now under pressure to act, the fate of Con Edison’s proposed increases—and potential further regulatory action—remains uncertain.
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