Con Edison electricity bills poised to jump 11% to 12% in NYC this summer
A
Love this stock. Recession proof. Set it and forget it. Consider it a retirement play.
B
As summer hits the Northeast with 90° temps... ED will see higher usage due ACs for both residential and commercial use.
J
Official correction territory for this.
J
And a new all time hi for this lol.
n
Con ed is asking for price increase starting in 2023 in NYC at the same time demand for electric is going up new laws passed in NYC required some new construction to be all electric wow maybe CON ed should buy bit coin and hold it
k
Average vol 1,778,908 and a silent bb?
k
So is ED share price going higher?
May 3, 2022, 5:00 a.m. ET Already frustrated and angry about high gasoline prices, many Americans are being hit by rapidly rising electricity bills, compounding inflation’s financial toll on people and businesses.
The national average residential electricity rate was up 8 percent in January from a year earlier, the biggest annual increase in more than a decade. The latest figures, from February, show an almost 4 percent annual rise, reaching the highest level for that month and approaching summer rates, which are generally the most expensive.
In Florida, Hawaii, Illinois and New York, rates are up about 15 percent, according to the Energy Department’s latest figures. Combined with a seasonal increase in the use of electricity as people turn on air-conditioners, the higher rates will leave many people paying a lot more for power this summer than they did last year.
The immediate reason for the jump in electric rates is that the war in Ukraine has driven up the already high cost of natural gas, which is burned to produce about 40 percent of America’s electricity. And supply chain chaos has made routine grid maintenance and upgrades more expensive.
D
Forecast temps low to mid 90s early next week in NY. Will be record hot summer, and with high nat gas prices power utilities are going to get approval for rate hikes. ED could possibly be pushing $105+ by mid June.
k
Wonder how many folks will sell after dividend?
k
Hold that line at 100 as a low, onward and upward!
k
Bravo!
k
Lost $6 share price in one month. Does earnings have any effect?
J
New high coming...load up the truck.
k
Ex div day
Y
#$%$ I bought ED as a conservative income investment to help balance the high risk growth stuff. And it turns toward the moon??? Stop losses put in. -- Yet Another
and a silent bb?
May 3, 2022, 5:00 a.m. ET
Already frustrated and angry about high gasoline prices, many Americans are being hit by rapidly rising electricity bills, compounding inflation’s financial toll on people and businesses.
The national average residential electricity rate was up 8 percent in January from a year earlier, the biggest annual increase in more than a decade. The latest figures, from February, show an almost 4 percent annual rise, reaching the highest level for that month and approaching summer rates, which are generally the most expensive.
In Florida, Hawaii, Illinois and New York, rates are up about 15 percent, according to the Energy Department’s latest figures. Combined with a seasonal increase in the use of electricity as people turn on air-conditioners, the higher rates will leave many people paying a lot more for power this summer than they did last year.
The immediate reason for the jump in electric rates is that the war in Ukraine has driven up the already high cost of natural gas, which is burned to produce about 40 percent of America’s electricity. And supply chain chaos has made routine grid maintenance and upgrades more expensive.
Does earnings have any effect?