New York City – Senator Liz Krueger issued the following statement in response to the Public Service Commission's approval on Thursday of the Joint Proposal for a rate increase for Con Ed customers. Also on Thursday, Senator Krueger joined Senator Shelley Mayer in authoring an op-ed in LoHud addressing legislative action that is needed to bring down energy costs, including reforming the utility ratemaking process:
 

"Yesterday, the New York State Public Service Commission approved the Joint Proposal in the Con Ed rate case, which will result in rate hikes that will have noticeable impacts on the wallets of Con Ed customers. The approved rates guaranteeing a 9.4% return on equity for Con Ed’s shareholders represent a clear misalignment of the Commission’s priorities. I speak on behalf of many of my constituents who are already overburdened by their utility bills under the current rates when I say that the lack of urgency by the PSC to stand firmly on the side of customers and take real action to address utilities' role in the cost-of-living crisis is not only profoundly disappointing, it is politically and economically unsustainable."