Con Edison's Trading Volume Plummets 34.81% to 343rd Rank Amid Rate Hike Controversy

On April 7, 2025, Consolidated's trading volume reached 4.62 billion, a significant decrease of 34.81% compared to the previous day, placing it at the 343rd position in the day's stock market rankings. Edison United Electric (ED) fell by 3.59%, marking its second consecutive day of decline, with a total drop of 6.49% over the past two days.

This week, Con Edison is facing rate hike hearings, with proposed increases of over 11% on average for electricity and over 13% for gas. Borough President Donovan Richards expressed concerns about the potential impact on residents and businesses, estimating that some families could see an increase of up to $154. The hearings are expected to address these concerns and determine the feasibility of the proposed rate hikes.

Con Edison's proposed rate increases have sparked significant debate, with many customers voicing their opposition. The potential financial burden on residents and businesses has raised concerns about affordability, especially in the context of existing economic challenges. The hearings will provide a platform for stakeholders to discuss the implications of these rate hikes and explore alternative solutions.