Con Ed, New York strike deal on rates

|By:, SA News Editor

Consolidated Edison (ED) enters into an agreement with the New York State Public Service Commission regarding electric, gas, and steam rates. (8-K)

Ultimately, the deal freezes base electricity rates for two years and gas and steam rates for three years, CBS notes.

The company will also invest in energy grid improvements.

Gov. Cuomo comments: "New Yorkers deserve stable power rates and a reliable electric system that is clean and fortified to withstand and respond to the impacts of future extreme weather."