Utility Cos. Selling NatGas Divisions, Use $ to Invest in Electric

We were shocked last December when Consolidated Edison, one of the top natural gas utilities in New York City (in the entire country), threw its support behind a plan to eventually ban the use of natural gas in all of NYC's buildings (see ConEd Turns Traitor – Supports Natural Gas Ban in NYC Buildings). Their support helped in the passage of a new regulation that outlaws new natgas hookups in NYC beginning in 2023 (see New York City Commits Energy Suicide – Mass Exodus Begins). It seems that Con Ed is not alone among major utilities abandoning their gas divisions. Why in the world would a company favor ending its own business model?

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