Profile: Consolidated Edison Inc (ED.N)
27 Feb 2017
Consolidated Edison, Inc. (Con Edison), incorporated on September 3, 1997, is a holding company. The Company operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc. (CECONY), Orange and Rockland Utilities, Inc. (O&R) and Con Edison Transmission, Inc. The Company owns competitive energy businesses. Con Edison also owns Con Edison Transmission, Inc. (Con Edison Transmission), which invests in electric and gas transmission projects through its subsidiaries, Consolidated Edison Transmission, LLC (CET Electric) and Con Edison Gas Midstream, LLC (CET Gas).
CECONY is a provider of electricity, natural gas and steam to customers in New York City and Westchester County. CECONY principal business segments include its regulated electric, gas and steam delivery businesses. CECONY provides electric service to approximately 3.4 million customers in all of New York City (except part of Queens) and Westchester County an approximately 660 square mile service area. CECONY delivers gas to approximately 1.1 million customers in Manhattan the Bronx and parts of Queens and Westchester County. CECONY operates the steam distribution system in the United States by producing and delivering approximately 22,000 million pounds (MMlb) of steam to over 1,700 customers in parts of Manhattan. CECONY owns approximately 60 area distribution substations and various distribution facilities located throughout New York City and Westchester County. The Company's distribution system has a transformer capacity of over 29,760 megavolt ampere (MVA), with approximately 36,930 miles of overhead distribution lines and over 97,290 miles of underground distribution lines. The underground distribution lines represent the single longest underground electric delivery system in the United States. CECONY's transmission facilities are located in New York City and Westchester, Orange, Rockland, Putnam and Dutchess counties in New York State.
CECONY owned or jointly owned over 440 miles of overhead circuits operating at approximately 138, 230, 345 and 500 kilovolt (kV) and over 749 miles of underground circuits operating at 69, 138 and 345 kV. CECONY's electric generating facilities consist of plants located in Manhattan, whose primary purpose is to produce steam for the Company's steam business. The facilities have an aggregate capacity of over 724 megawatt (MW). CECONY delivers electricity to its full-service customers, who purchase electricity from the Company. CECONY also delivers electricity to its customers who choose to purchase electricity from other energy suppliers (energy choice program). In addition, CECONY delivers electricity to state and municipal customers of New York Power Authority (NYPA) and economic development customers of municipal electric agencies. Natural gas is delivered by pipeline to CECONY at various points in or near its service territory and is distributed to customers by CECONY through an approximately 4,350 miles of mains and 369,790 service lines. CECONY owns a natural gas liquefaction facility and storage tank at its Astoria property in Queens, New York. The plant stores approximately 1,062 thousand dekatherms (MDt) of which a maximum of 250 MDt can be withdrawn per day. CECONY has over 1,226 MDt of additional natural gas storage capacity at a field in upstate New York.
O&R delivers electricity and natural gas to customers located in south-eastern New York, northern New Jersey and north eastern Pennsylvania. O&R and its utility subsidiaries, Rockland Electric Company (RECO) and Pike County Light & Power Company (Pike), provide electric service to approximately 0.3 million customers in south-eastern New York and in adjacent areas of northern New Jersey and north-eastern Pennsylvania, an approximately 1,350 square mile service area. O&R delivers gas to over 0.1 million customers in south-eastern New York and adjacent areas of north-eastern Pennsylvania. O&R, RECO and Pike, own transmission and distribution facilities, which include over 570 circuit miles of transmission lines, approximately 10 transmission substations, over 60 distribution substations, approximately 86,790 in-service line transformers, over 3,990 pole miles of overhead distribution lines and over 1,890 miles of underground distribution lines. O&R's transmission system is part of the New York Independent System Operator (NYISO) system except that portions of RECO's system are located within the transmission area controlled by PJM Interconnection LLC (PJM). O&R and Pike own their gas distribution systems and O&R owns a gas transmission system. Natural gas is delivered by pipeline to O&R at various points in or near its service territory, and is distributed to customers by the Company through an estimated of over 1,880 miles of mains and 105,480 service lines.
Competitive Energy Businesses
The Company sells to retail customers electricity purchased in wholesale markets and enter into related hedging transactions; provides energy-related products and services to wholesale and retail customers, and develops, owns and operates renewable and energy infrastructure projects. The Competitive Energy Businesses include three subsidiaries: Consolidated Edison Solutions, Inc. (Con Edison Solutions); Consolidated Edison Energy, Inc. (Con Edison Energy) and Consolidated Edison Development, Inc. (Con Edison Development). Con Edison Solutions sells electricity to industrial, commercial and governmental customers in the north-eastern United States and Texas. It also sells electricity to residential and small commercial customers in the north-eastern United States. Con Edison Solutions sells electricity to customers, who are provided delivery service by the Utilities. Con Edison Solutions also provides energy efficiency services procurement and management services to companies and governmental entities in the United States. The services include the design and installation of lighting retrofits, high-efficiency heating, ventilating and air conditioning equipment and other energy saving technologies.
The Company owns renewable energy projects in Massachusetts and California with an aggregate capacity of 20 MW (Alternating Current). Con Edison Energy provides services to manage the dispatch, fuel requirements and risk management activities for over 4,470 MW of generating plants and merchant transmission in the northeastern United States owned by unrelated parties and manages energy supply assets leased from others. Among other things, the Company also provides wholesale hedging and risk management services to Con Edison Solutions and Con Edison Development. Con Edison Development develops, owns and operates energy infrastructure. The Company focuses on renewable electric production projects. Con Edison Development's projects include Flemington, Frenchtown I, II and III, PA Solar, California Solar 2, Oak Tree Wind, Texas Solar 3 and Texas Solar 5. Con Edison Development's jointly owned projects include Pilesgrove, California Solar, Mesquite Solar 1, Broken Bow II and Texas Solar 4.
Consolidated Edison Inc
4 Irving Pl
NEW YORK NY 10003-3502
Company Web Links
- BRIEF-Consolidated Edison Q4 earnings per share $0.68
- Con Edison reaches $153 million settlement over fatal 2014 Harlem blast
- UPDATE 1-Con Edison reaches $153 mln settlement over fatal 2014 Harlem blast
- BRIEF-New York says Con Ed reaches $153.3 mln settlement over fatal Harlem blast
- BRIEF-Willdan Group awarded $75 mln base contract for Con Edison energy efficiency program