Despite the promise of lower prices with the entry of Verizon into the New York cable market, cable television prices are rising fast, according to a new report from Crain's newspaper.

Cablevision, which has about 3.1 million TV customers in the New York metropolitan area, will increase the price of cable TV by an average of 3.5% next year, according to a Nov. 9 article in the business newspaper. Time Warner Cable, with about 1.1 million New York City customers, is expected to follow with similar rate hikes.

Crain's says that Verizon has increased its TV rates by 12%, to $47.99, since entering the New York metro market two years ago.

The cable companies say that price hikes are due to increased programming fees charged by broadcasters and content providers.

Crain’s noted that the Federal Communications Commission recently gave Time Warner Cable permission to raise rates in New York City on basic-cable TV, declaring that there is effective competition in the city, and eliminating the city's power to regulate basic-cable rates.

Time Warner Cable, the nation's second largest cable operator, said last week that its third-quarter profit rose 21 percent. The company earned $301 million in the quarter compared with $248 million a year ago. The cable operator said revenue climbed 8 percent to $4.34 billion from $4 billion.