This is some real gaslighting.
Gov. Hochul has ordered an audit of executive pay at New York’s utility companies after Con Edison proposed double-digit rate increases — but critics say her costly green-energy initiatives are to blame for driving up prices.
The Hochul-controlled Public Service Commission announced the action Thursday, amid outrage over Con Edison’s request to jack up electric bills by 11.4% and send gas bills soaring 13.3% for its 3.6 million customers.
Hochul, who opposes the rate increases, said, “This audit will ensure that utility compensation structures are working for New Yorkers . . . We will hold utilities accountable and ensure their focus is where it should be: delivering reliable, affordable, and high-quality service.
“At a time when families are facing rising costs, we are taking decisive action to ensure every dollar that customers pay is justified and that utility companies are prioritizing the needs of the people they serve.”
But some said the stench of high gas prices is coming from inside the state house.
Gov. Kathy Hochul’s regulators have launched a sweeping audit of executive compensation at New York’s utility companies after Con Edison proposed to zap customers with double-digit increases in gas. Gabriella Bass“What Con Ed proposed is outrageous. But a salary audit won’t move the needle on energy prices,” Assembly Minority Leader Will Barclay (R- Pulaski) told The Post. “Albany Democrats have bent the knee to environmental extremists.”
Hochul has led an anti-fossil fuel crusade, including proposing a “cap and invest” program that critics have said would drive up home-heating costs and gas prices by as much as 22 cents on the gallon. The plan, designed to supposedly curb carbon emissions and which has since been postponed, would force oil companies to pay $75 billion to the state for greenhouse gases — a cost that would likely be passed onto customers.
The green guv and the Democratic-led legislature have also banned gas stoves, furnaces and propane heating in new buildings and, in December, she extended the state’s fracking ban by prohibiting a new technique to use carbon dioxide to extract natural gas harmlessly.
ConEd’s proposed rate hikes would cost inflation-weary New Yorkers $1,848 more per year compared to five years ago if approved.
Skeptics also ripped Hochul’s audit order as a phony attempt to look tough after her administration recently rubber-stamped the bigwigs’ pricy pay packages.
ConEd executives are living well, according to reports filed with the SEC and the PSC. John Hanson Pye – stock.adobe.com“We’ve skipped the Bronco chase down the LA freeway and gone straight to the governor promising to find the real perpetuators behind real utility costs,” Ken Girardin, Director of Research at the Empire Center, told The Post.
“When it comes to transmission costs for gas and electricity, arguably the biggest reason New Yorkers pay so much is because the legislature and the [Public Service Commission] have ordered utilities to stuff so much into those rates.”
‘Rearranging the deck chairs’
Barclay scoffed at PSC’s review.
“Go ahead and conduct an audit. She’s rearranging the deck chairs on the Titanic when we’ve already hit the iceberg known as the CLCPA,” he added, referring to the state’s controversial Climate Leadership & Community Protection Act, which aims to have zero emission power by 2040.
ConEd executives are living well, according to reports filed with the Securities and Exchange Commission and the PSC.
Chairman and CEO Timothy Cawley has a total compensation package of $9.59 million, including a $1.3 million salary, $2.14 million in incentives/bonus pay, and more than $6 million in stock options plus deferred compensation.
However, PSC conducted an independent audit in 2023 of ConEd that gave mostly positive reviews and did not question the compensation of brass. Seth Harrison/The Journal News / USA TODAY NETWORK via Imagn ImagesConEd president Matthew Ketschkes gets $3.1 million, a package that includes $1.7 million in stock options, $1.34 million in salaries, incentive/bonus pay, and deferred compensation.
PSC conducted an independent audit in 2023 of ConEd that gave mostly positive reviews.
“The auditor found that Con Edison’s management variable pay incentive program and O&R’s annual team incentive plan use quantifiable goals to promote the corporate mission, safety and reliability, environmental goals, and Commission objectives,” the PSC release outlining the findings said.






