Trump, Mamdani say NY utility Con Edison needs to cut rates

By Steve Holland and Kanishka Singh

WASHINGTON, Nov 21 (Reuters) - U.S. President Donald Trump and New York City Mayor-elect Zohran Mamdani agreed on Friday that New York-based utility Con Edison ED.N needed to lower its rates.

In a White House meeting, the Republican president and the incoming democratic socialist mayor discussed cost-of-living concerns.

"We are going to have to talk to them (Con Edison)," Trump said. "We have to get Con Edison to start lowering the rates."

"Absolutely," replied Mamdani.

The issue of inflation and affordability was a successful core campaign issue for both men in their recent elections.

When asked for a comment, the company said: "We welcome the opportunity to partner with the Mayor-elect on solutions that make New York affordable for everyone." Con Edison also said it recognized that "affordability is a critical issue."

Trump gave Mamdani a warm welcome at the White House in their first-ever meeting. The two men have been very critical of each other in the past and have clashed on a range of domestic and foreign policy issues like immigration, public safety and U.S. support for Israel's assault on Gaza.