Electricity consumption patterns during the global health crisis
Electricity usage trends have shifted since the outset of the COVID-19 (coronavirus) pandemic and continue to be affected by ongoing socioeconomic restrictions. Specifically, Con Edison has endured an increase in electricity demand from residential customers throughout the COVID-19 (coronavirus) pandemic on account of individuals spending more time at home and using more electricity at their residences. Conversely, the organization has recognized a decrease in electricity consumption from commercial and industrial users throughout the COVID-19 (coronavirus) pandemic as these customers have largely been contented with business shutdowns that have led to lower energy consumption.
COVID|M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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