New York Regulators Slash Con Edison’s Revenue Hike by 75 Percent, Advance Initiatives to Reduce Need for Natural Gas

The New York Public Service Commission on Jan. 16 adopted a three-year rate plan for Consolidated Edison Company of New York Inc., allowing the utility to increase electric and gas rates annually through 2022. The agency authorized a first-year electric revenue increase of about $113 million, or 3.1 percent, down from the original request of…