Consolidated's Trading Volume Plummets 38.99% to 449th Rank Amid Rate Hike Controversy

On April 8, 2025, Consolidated's trading volume was 2.85 billion, a significant decrease of 38.99% compared to the previous day, ranking 449th in the day's stock market activity.

Consolidated, the parent company of Con Edison, is facing significant public and political pressure due to proposed rate hikes. Local officials, including Council Member Jennifer Gutiérrez, Council Member Lincoln Restler, Assembly Member Emily Gallagher, and state Sen. Kristen Gonzalez, have expressed strong opposition to the potential rate increases, citing the financial burden it would place on constituents who are already struggling with high costs of living.

Queens Borough President Donovan Richards and 32BJ SEIU have also joined the chorus of voices demanding that Con Edison cancel the proposed rate hikes. They argue that working New Yorkers cannot afford to pay higher bills and are calling for a rate freeze to provide relief during these challenging economic times.

Additionally, concerns have been raised about Con Edison's billing practices, with allegations that the company has been overcharging customers. This has further fueled the public outcry against the proposed rate increases, as residents feel that they are already paying more than their fair share for essential services.