ConEd’s Stock Slides to 455th in Trading Volume Amid Rate Hike Backlash

On August 5, 2025, Consolidated Edison (ED) fell 1.12% with a trading volume of $260 million, ranking 455th in the market. The decline reflects growing public and political scrutiny over the utility’s proposed 11% electricity rate hike and 10% gas charge increase, set to take effect in January 2026. The plan, aimed at funding $21 billion in infrastructure upgrades to combat climate-related risks, has faced fierce backlash from ratepayers and regulators.

Public hearings in New York revealed widespread frustration among consumers, including Kisha Skipper, who described the financial strain of prioritizing basic needs over energy bills. Analysts warn that resistance could force ConEd to scale back its investment plans, particularly in green energy projects, as regulators have already recommended $1.7 billion less in revenue than requested. The company’s three-year streak of rate hikes—nearly 9% in electricity and 8.4% in gas in 2023—has further exacerbated affordability concerns for low- and middle-income households.

ConEd argues that grid modernization is critical to maintaining reliability amid extreme weather and supporting New York’s 2040 zero-emission goals. However, critics, including lawmakers, question the allocation of profits, noting that the utility has not fully directed annual earnings toward infrastructure since 2012. The New York State Public Service Commission’s staff has already proposed cuts to the requested rate increases, signaling potential compromises in the ongoing negotiations.

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