Con-Ed Agrees to Years-Long Rate Freeze in NY

ALBANY -

Con-Ed has agreed to a two-year freeze in electric delivery rates and a three-year freeze in gas and steam distribution rates, The Associated Press reported. The proposal, pending approval by the state Public Service Commission, may result in rate decreases for some commercial and industrial customers. Con-Ed said lower financing costs and other savings will offset rates, with most customers seeing little change.