Just weeks after imposing a rate hike – Con Edison requested state utility regulators Friday to allow rate hikes over the next three years. Under the first of two proposals submitted to state utility regulators Friday, Con Ed would raise rates in April 2009 by 5.8 percent, by 4.2 percent in 2010, and 3.7 percent in 2011.

The company would hope to raise $654 million through the hike in order to maintain and upgrade its power system and cover rising fuel costs.

The other plan seeks $557 million through a flat 4.9 percent increase in each of the next three years — letting consumers see smaller annual increases.

The state Public Service Commission will hold public hearings over the next several months before deciding on Con Ed’s latest rate hike proposals.

(Source: NY1)