NY Proposes a ConEd Revenue Increase 80% Below Utility’s Request

New York’s utility regulator proposed a revenue increase for Consolidated Edison Inc. that’s 80% below the utility’s request as sensitivity over consumer power bills mounts.

Staff of the New York Public Service Commission recommended ConEd collect an increase of $319 million in revenue, or about $1.3 billion less than the amount ConEd wanted, according to a filing Friday. The regulatory staff also proposed ConEd earn a 9.3% return on equity, lower than the 10.1% requested by the utility. Analysts at Citigroup Inc. had predicted staff would recommend a 9.2% return.

The recommendation Friday comes as utilities are facing increasing pressure ...