Consolidated Edison

As a regulated utility, nominal pricing power is constrained by allowed returns and bill affordability. The January 2026 settlement materially reduced the initial revenue ask and shapes customer bill impacts, underscoring limited unilateral pricing latitude.

Offsetting this, formulaic ROE setting, decoupling, and timely cost recovery reduce regulatory lag and support earnings visibility. Margin expansion primarily follows rate-base growth rather than discretionary price hikes. Sources: PSC order summary; company slides summarizing allowed ROE, equity ratio, revenue decoupling, and shaped bill impacts.