In view of recent developments, bio-tech utility company Consolidated Edison is currently navigating a significant period of change. To meet the demands of a greener future, the company has proposed a rate hike, causing considerable concern among lawmakers and consumers. The New York utility launched a public offering of 6.3 million common shares and extended its dividend streak with its 51st annual increase. Both actions add financial solidity but have instigated a backlash due to the perceived impact on customer bills.
The company's Q4 earnings and revenues surpassed estimates. Despite this, analysts predict a possible decline in earnings. Additionally, Con Edison is also focusing its efforts on contributing towards clean energy solutions and bulk energy storage projects. The company is scheduling to meet investors in March 2025 with an outlook to reshape the energy markets with its $71 billion portfolio. The double-digit rate hike proposal for 2026 is undergoing fiery resistance, causing Governor Kathy Hochul to reject its proposal and demand accountability.
Consolidated Edison ED News Analytics from Thu, 18 Jul 2024 07:00:00 GMT to Thu, 13 Mar 2025 18:57:22 GMT - Rating -4 - Innovation 5 - Information 7 - Rumor -5
