NY Caps Con Ed Revenue Increases, Citing Affordability (1)

Consolidated Edison Inc. can raise revenues by just 2.8% per year for three years, under an agreement adopted by New York regulators Thursday.

The deal between Con Ed, consumer advocates and other parties will raise the utility’s revenues by $234 million in the first year and more than $400 million in each of the next two years — while capping increases in customer bills at the rate of inflation, according to a statement by the Department of Public Service

Affordability was a key consideration for regulators, as power prices surge to record highs across the country. The Trump administration recently ...