Trump and Mamdani jointly press Con Edison to cut New York electricity costs

President Donald Trump and New York City mayor-elect Zohran Mamdani held a face to face meeting at the White House on Nov. 21, 2025, and publicly urged Consolidated Edison to lower electricity rates for New Yorkers. The gathering, the first between the two since Mamdani’s election, focused on cost of living pressures including housing, public safety and utilities, elevating energy bills as a major concern for city households.

Both men emphasized affordability as a policy priority, and the president said the federal government would engage with the utility on rate concerns while the mayor-elect voiced support for measures that would ease burdens on city residents. Con Edison responded by saying it welcomed the chance to work with the mayor-elect on affordability initiatives and recognized the importance of keeping energy costs manageable for households. The exchange drew attention because the two leaders have been political adversaries, making their cooperative public stance notable for both local and national politics.

The timing injects pressure into a regulatory environment where retail electricity rates are set by New York State authorities, primarily the New York Public Service Commission. Investor owned utilities such as Con Edison operate under state rate cases that determine allowed returns, capital spending recovery and customer charges. Federal agencies can influence broader energy policy, provide funding for grid projects and encourage affordability programs, but they do not set utility retail rates directly.

The push for lower bills arrives as cities grapple with shrinking household purchasing power after years of high inflation and steep housing costs. Lower electricity bills would immediately benefit renters and low income households that spend a larger share of income on utilities, but they would also affect the utility’s revenue stream and its ability to finance grid upgrades, climate adaptation and electrification projects that state energy policy has prioritized.

Market participants will watch how regulators and Con Edison respond. Utilities typically manage political interventions through regulatory filings and negotiations with state utility commissions, and any meaningful downward change in rates could require a new rate case, supplemental filings or expanded subsidy programs financed by the city, state or federal government. Investors monitor these outcomes because sustained pressure on allowed returns or expedited rate relief can affect utility earnings, credit metrics and long term investment plans.

Policy options on the table include enhanced energy assistance, targeted income adjusted rates, municipal aggregation to negotiate lower supply costs and federal or state funds to offset utility revenue needs while preserving capital spending. The political optics of the Trump Mamdani meeting may accelerate calls for immediate relief, but implementation will hinge on state regulatory processes and the willingness of Con Edison and policymakers to reconcile affordability with the costs of maintaining and decarbonizing New York’s power system.

Observers will be looking for near term signals: whether Con Edison files proposals with the Public Service Commission, what specific affordability measures Mamdani advances once he assumes office, and what form federal engagement on the issue will take. Those steps will determine whether the White House meeting produces tangible relief for New Yorkers or remains a high profile plea with limited practical effect.