Con Ed is trying to raise electricity and gas bills by 18% for working New Yorkers - all while reporting major profits.

Con Edison (Con Ed) has officially sought approval from the New York Public Service Commission to increase electricity and gas rates for customers in New York City and Westchester County. The proposed increases are in the range of about 18% for gas and a similar substantial hike for electricity, which aligns with the claim of an 18% rise.

This rate hike proposal has sparked criticism from lawmakers and consumer advocates who highlight that Con Ed is already reporting major profits, raising concerns about the fairness of passing such costs onto working New Yorkers.

The context includes ongoing debates about utility affordability, energy infrastructure investments, and the transition to greener energy sources, which contribute to rising costs but also to Con Ed's financial performance.

While the exact percentage may vary slightly depending on the specific rate category or customer class, the general claim that Con Ed is pushing for roughly an 18% increase in bills while being profitable is supported by recent filings and news reports.

It is important to note that regulatory approval is required before these increases take effect, and there are active political and public efforts to mitigate the impact on consumers.