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New York, NY - Just weeks after imposing a rate hike, Con Edison requested state utility regulators 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.

"In any other business, if any other company in America provided such a lousy service, they'd go out of business,” said Democratic Queens Councilman Eric Gioia. “Con Edison is a monopoly, so they think they can provide just as bad a service as they want and charge as high of rates as they want. It's simply wrong."

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