 For example, in 2009, New York's utility regulator urged Con Edison to consider applying for a MRP when it approved a one-time, one-year rate increase of $523.4 million, saying that the one-year rate increase was not sufficient enough to meet all the challenges that Con Edison was facing.Almost two decades earlier, in 1992, Con Ed had reached its ninth consecutive year of price freezes or cuts for its utility customers.However, faced with increased costs, Con Ed and the New York Public Service Commission made an agreement on a MRP to implement a 19.8 percent rate increase over a 3-year period.