Con Edison is looking to raise gas and electric prices by double digits early next year, citing the need to fortify its energy systems against extreme weather and boost investments in renewable energy.

The company said in a statement Friday that it is seeking state approval for an average electric bill increase of 11.4% and an average gas bill increase of 13.3%.

The increase would amount to around $1.6 billion more in electric revenue and $440 million gas revenue, the energy behemoth said.

“Our top priority is to deliver safe, reliable, and affordable energy to our customers,” Matthew Ketschke, president of Con Edison, said in a statement.  “Our proposed investment plan will support critical work and investments in reliability, resiliency and clean energy infrastructure to meet the high expectations of our customers, who depend on us to deliver the most reliable electric service in the nation.”

The proposal would fund several projects, including a substation complex in eastern Queen and a clean energy hub in Brooklyn, a press release from the company said.

The filing kicks off an 11-month long review process during which the New York Public Service Commission will hold public hearings and allow opportunities for local governments, consumer groups, environmental advocates to provide written testimony.

Generally, hearings are held six months from the initial filing date, meaning they would occur at some point in July, according to documents posted by the Department of Public Service.

Should the state’s Public Service Commission agree to the hikes, the rate changes would go into effect Jan. 1, 2026.

The Public Service Commission last approved a rate hike in July 2023, which increased electric and gas rates incrementally in 2023, 2024 and 2025.