Con Ed sees record New York City summer power demand
* New York City has enough power resources for summer
* Con Ed invested $1.1 billion to prepare for summer
NEW YORK, June 2 (Reuters) - New York City's power company, Consolidated Edison Inc (ED.N), said Thursday it had enough power to meet forecast record power demand this summer.
The company said in a release it invested $1.1 billion to strengthen its electric system for this year, including $814 million for cables, transformers, and network protectors; $63 million on transmission upgrades; and $212 million on new substation installations and related equipment.
"Our work force prepares continuously through the fall, winter and spring to get our system ready for the summer season," Craig Ivey, president of Con Edison, said in the release.
The company forecast power usage by its more than three million customers in New York City and Westchester County would reach a record peak of 13,275 megawatts (MW) this summer. The current record peak is 13,141 MW set on Aug. 2, 2006.
The forecast peak includes 11,505 MW for New York City and 1,770 MW for Westchester County.
Con Ed said New York City will have more than 10,400 MW of power resources available to meet the forecast peak in the city, which is more than the state grid required 81 percent of the peak forecast, and will also have the ability to import more than 5,300 MW from power sources outside the city.
Con Edison provides power, natural gas and steam service to more than 3 million customers in New York City and Westchester County. (Reporting by Scott DiSavino)
Trending On Reuters
We are living longer but not creating financial plans to keep pace. Advisers give tips on how to make sure you don’t outlive your money. Video