In testimony filed in Consolidated Edison's rate cases, the New York City Democratic Socialists of America offered testimony stating, "The Commission [PSC] should take the required steps to bring the Company under public ownership."

"Public ownership would address a fundamental motive for the Company’s filing. The Company relies on investors for capital and is accordingly subject to the demands of its investors. Volume 2 of the Company’s testimony is an example of this in action. The Company’s witness justifies increased profits for investors as a legitimate reason for demanding more money from ratepayers. The guiding principle that investors are entitled to a high rate of return drives the Company’s filing and fundamentally undermines the fair provision of energy to New Yorkers. The Company should be freed from its reliance on private investors, who demand a higher rate of guaranteed profit at the expense of the Company’s ratepayers. For as long as the Company exists, the Commission should not allow the Company to collect an excess return on equity through customers’ monthly bills," a witness for the New York City Democratic Socialists of America said

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