In the case of Consolidated Edison Company of New York, Inc. v. Public Service Commission of New York (1979), the U.S Supreme Court ruled that a state regulation prohibiting utility companies from including inserts discussing controversial issues in their billing envelopes violated the First Amendment's freedom of speech clause. The court held that while states have significant power to regulate utilities due to their monopoly status and close relationship with customers, this does not extend to controlling their communication on public issues. The ruling emphasized that corporations also have First Amendment rights and restricting these rights based solely on the content or subject matter is unconstitutional unless it serves a compelling state interest and is narrowly tailored to achieve that end.

In the dissenting opinion for Consolidated Edison Company of New York, Inc. v. Public Service Commission of New York, Justice Brennan argued that the majority's decision was a misinterpretation of First Amendment rights and an overreach by the Court into state regulatory affairs. He contended that utility companies do not have a constitutional right to include political messages in their billing envelopes because these are essentially commercial transactions between private parties where free speech concerns are minimal. Furthermore, he believed that states should be allowed to regulate utilities' communications with customers as part of their broader authority to oversee public utilities and protect consumers from potential abuses or manipulations. In his view, prohibiting such regulations could undermine consumer protections and lead to inappropriate uses of utility bills for political advocacy.