Con Edison targeted by Trump, Mamdani over high energy bills for residents

president Donald Trump On Friday, he hosted New York City Mayor-elect Zahran Mamdani at the White House where they discussed affordability issues and called for lower electricity prices in the city, which has caused major utility inventories to decline.

Trump and Mamdani, a Democratic socialist, spoke to reporters in the Oval Office after their meeting and said they intended to focus on addressing affordability issues, which Mamdani noted has helped increase Trump’s level of support in the United States. New York City And it was something his campaign exploited.

“When we asked New Yorkers who voted for the president, when we saw his numbers increase in New York City, they came back to the same issue — cost of living, cost of living, cost of living. They talked about the cost of rent, the cost of Con Ed, the cost of childcare,” Mamdani explained.

Consolidated Edison, known as Con Ed, is New York City’s main utility provider with more than 3 million customers, and President Trump has stressed the need to reduce the energy bills New Yorkers face — saying there should be talks with the company about lowering rates.

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“We talked about Edison con. “We have to work a little bit to get the prices down, because you know, we’ve brought down the gas prices dramatically, but it doesn’t show up at Con Edison,” Trump said.

“We’re going to have to talk to them about, you know, if we’re sending them fuel at a much lower price than it was a year ago, which is true, we’ve got to get Con Edison to start lowering their prices,” he added.

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Con Edison told FOX Business that the company is “powering our country’s economic engine by delivering maximum benefit Reliable power For more than 9 million people who live, work and travel through New York City every day.

The company added: “We recognize that affordability is a critical issue and we work every day to balance the investments needed for resiliency, reliability and customer costs. We welcome the opportunity to partner with the mayor-elect on solutions that make New York more accessible to everyone.”

Following Trump and Mamdani’s comments, Con Ed shares fell to close the week. Con Ed stock opened Friday’s session at $101.48 and reached a high of $103.28 — but fell to a low of $99.55 after those comments. The stock closed at $100.16, down 0.78% on Friday.

Analysis shows middle-income Americans are pessimistic about their financial futures amid persistent inflation

Over the year, shares are up about 13%.

Voters elected in New York City Zahran Mamdani In early November, when he defeated independent challenger and former New York Governor Andrew Cuomo as well as Republican nominee Curtis Sliwa.

Con Edison is New York City’s leading utility provider. (Gary Hirschhorn/Getty Images/Getty Images)

A Fox News poll of voters found that while a 59% majority of voters in New York City felt their household finances were steady, 22% felt they were falling behind and only 17% felt they were progressing — with Mamdani leading among those holding steady or falling behind.

Voters said the cost of living is the most important issue facing New York City, with 55% of respondents to a Fox News voter poll focusing on Pocket book issuesThe next closest problem is crime at 23%.

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Among voters who cited cost of living as the most important issue in New York City, 66% said they voted for Mamdani — more than double the 29% who supported Cuomo.