Despite arguing its merger with Time Warner Cable would result in greater discounts for cable programming, America’s largest cable company Comcast is already receiving the best volume discounts available but is not passing the savings on to customers.

No major cable operator raised cable television rates more than Comcast, according to a new study from Free Press. Since 2009, Comcast jacked up prices on its broadcast basic television tier by 68 percent. Its more popular expanded basic cable service saw rate hikes amounting to 21 percent over the same time.

In contrast, Time Warner Cable actually cut rates for broadcast basic cable by 2.5% and raised expanded basic prices by 17 percent.

Comcast’s top lobbyist David Cohen has made clear the company’s prices are going to keep rising even if the merger is approved. That is likely to give Time Warner Cable customers sticker shock if Comcast takes over. Comcast is likely to pass whatever cost savings it realizes from the merger back to shareholders, not to customers.