New York State Utility Rate Stabilization Bill and Its Effects on Flushing Household Expenses

The New York State Legislature passed the Utility Rate Stabilization Bill on July 2, which caps annual increases in electricity and natural gas rates at 2.5 percent for residential customers served by Con Edison in Queens. The measure applies to the utility territory that includes Flushing and takes effect on September 1.

State budget documents released last month show that household energy costs have risen an average of 18 percent since 2023 for Queens residents. The bill responds to those increases by requiring the Public Service Commission to review and approve any proposed rate adjustments above the new cap. It also adds $45 million to the state’s utility assistance fund for the 2026-2027 fiscal year.

Direct Effects on Flushing Households

Flushing residents who receive electric and gas service from Con Edison will see the rate cap applied to their monthly bills starting in the fall. A typical two-bedroom apartment in the neighborhood currently pays about $140 for electricity and $95 for gas during summer months. Under the new rules those amounts cannot rise by more than the 2.5 percent limit without additional regulatory review.

The legislation also expands eligibility for the state’s utility assistance program to households earning up to 250 percent of the federal poverty level. Local advocates note that this change will cover an additional 12,000 households in Queens County, including many in Flushing’s ZIP codes 11354 and 11355. Payments under the program are issued directly to the utility and appear as credits on customer bills.

Next Steps for Implementation

The Public Service Commission must issue final rules for the rate cap by August 15. Con Edison is required to file its first compliance report with the commission by September 30, listing all residential accounts in Flushing that receive the capped rates. The state comptroller’s office will audit the $45 million assistance fund allocation at the end of the fiscal year.

Policy analysts say the bill’s provisions will be tracked through the legislature’s online bill tracker, with quarterly updates posted on the Assembly website. Residents can check their eligibility for assistance by contacting the state Office of Temporary and Disability Assistance or visiting the local Flushing district office of the Department of Social Services.