Energy Markets
Consolidated Edison reports higher quarterly profits on robust power demand
Consolidated Edison announced a rise in its first-quarter profit on Thursday. This was due to a 'robust demand' for their electricity, steam and gas?services, amid freezing temperatures across the United States. The U.S. Energy Information Administration predicts that power consumption in the United States will hit new records this year. A winter storm and an Arctic 'Blast' spread a mix of heavy snow, freezing rain and sleet across the majority of eastern U.S. This boosted demand for natural gas and electricity, both of which are used to heat homes. Consolidated Edison has service areas in New York, New Jersey and...