Resolution calling on utility companies that service New York City and the New York State Public Service Commission to pursue and approve a freeze on utility rates for New York City residents

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Res. No. 561 ..Title Resolution calling on utility companies that service New York City and the New York State Public Service Commission to pursue and approve a freeze on utility rates for New York City residents ..Body By Council Members Thomas-Henry, Epstein, Hankerson, Cabán, Aldebol, Farías, J. Sanchez, Hudson, Brooks-Powers, Ariola, Schulman, Ossé, Lee, Wilson, Restler, Banks, Stevens. Riley and Hanif Whereas, Utility services, which supply utilities such as electricity and natural gas, are basic services that New York City (“NYC”) residents and businesses rely on; and Whereas, Utility bills are a major household and business expense, and over the years, utility costs have increased in New York State (“NYS”) and thus, NYC; and Whereas, Data from the Empire Center for Public Policy and the United States (“U.S.”) Energy Information Administration notes that NYS households pay relatively high electricity and natural gas prices as compared to other states in the nation; and Whereas, The NYS Public Service Commission (“PSC”) regulates, among other things, electricity and natural gas in NYS; and Whereas, Through utility rate cases and rate plans, the PSC determines the delivery rates that regulated utilities may charge customers; and Whereas, Consolidated Edison (“Con Edison”) and National Grid are among the largest utility companies servicing NYC, with Con Edison providing electricity, natural gas, and steam service to many NYC customers, and National Grid providing natural gas service to those in Brooklyn, Staten Island, and much of Queens; and Whereas, In August 2024, the PSC approved a 3-year rate change for National Grid’s downstate gas utilities, which would increase average natural gas costs for NYC customers by about 10.5 percent per year for the 3-year period; and Whereas, In January 2026, the PSC approved a 3-year rate change for Con Edison, which would increase average electricity costs for NYC customers by about 2.8 percent per year and average natural gas costs for NYC customers by about 2 percent per year for the 3-year period; and Whereas, According to estimates by the New York Post, the rate plans for Con Edison would increase electricity bills in NYC by about 10.4 percent, equating to about $134 more per year by 2028 for those using 280 kWH of power per month, and increase natural gas bills in NYC by about 15.8 percent, equating to about $482 more per year by 2028 for those using 100 therms per month; and Whereas, These approved rate increases come at a time when many New Yorkers are already facing rising costs in rent, food, transportation, and other necessary expenses; and Whereas, While investments in safety, reliability, resiliency, and infrastructure are important, utility rate increases should not be approved in a manner that imposes unsustainable costs on NYC ratepayers; and Whereas, In May 2026, National Grid filed a Rate Stabilization Proposal with the PSC to freeze natural gas delivery rates for the company’s customers in NYC and on Long Island until March 31, 2028, demonstrating that rate stabilization measures can be considered; and Whereas, Utility companies and the PSC should work together to protect NYC residents and businesses from further increases in essential utility costs to provide needed relief to New Yorkers and help address the broader affordability crisis in NYC; now, therefore, be it Resolved, That the Council of the City of New York calls on utility companies that service New York City and the New York State Public Service Commission to pursue and approve a freeze on utility rates for New York City residents. KK LS 24546 6/29/26

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