Consolidated Edison, Inc. (Con Edison), through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States.
The company’s subsidiaries include Consolidated Edison Company of New York, Inc. (CECONY); Orange and Rockland Utilities, Inc. (O&R); and Con Edison Transmission, Inc.
CECONY’s principal business operations are its regulated electric, gas and steam delivery businesses. O&R’s principal business operations are its regulated electric and gas...
Consolidated Edison, Inc. (Con Edison), through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States.
The company’s subsidiaries include Consolidated Edison Company of New York, Inc. (CECONY); Orange and Rockland Utilities, Inc. (O&R); and Con Edison Transmission, Inc.
CECONY’s principal business operations are its regulated electric, gas and steam delivery businesses. O&R’s principal business operations are its regulated electric and gas delivery businesses. Con Edison Transmission, through its subsidiaries, invests in electric transmission projects and manages, through joint ventures, both electric and gas assets while seeking to develop electric transmission projects. Con Edison Transmission is considering strategic alternatives with respect to its investment in Mountain Valley Pipeline, LLC (MVP) and both Con Edison Transmission and CECONY are considering strategic alternatives with respect to their investments in Honeoye Storage Corporation (Honeoye).
The company invests to provide reliable, resilient, safe and clean energy critical for its New York and New Jersey customers.
CECONY
Electric
CECONY provides electric service to approximately 3.7 million customers in all of New York City (except a part of Queens) and most of Westchester County, an approximately 660 square mile service area with a population of more than nine million.
Gas
CECONY delivers gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens and most of Westchester County.
Steam
CECONY operates the largest steam distribution system in the United States by producing and delivering approximately 15,494 million pounds (MMlb) of steam annually to approximately 1,520 customers in parts of Manhattan.
O&R
Electric
O&R and its utility subsidiary, Rockland Electric Company (RECO) (together referred to herein as O&R) provide electric service to approximately 0.3 million customers in southeastern New York and northern New Jersey, an approximately 1,300 square mile service area.
Gas
O&R delivers gas to over 0.1 million customers in southeastern New York.
Con Edison Transmission
Con Edison Transmission, through its subsidiaries, invests in electric transmission projects and manages, through joint ventures, both electric and gas assets while seeking to develop electric transmission projects. Con Edison Transmission is considering strategic alternatives with respect to its investment in Mountain Valley Pipeline, LLC (MVP) and both Con Edison Transmission and CECONY are considering strategic alternatives with respect to their investments in Honeoye Storage Corporation (Honeoye).
Utility Regulation
State Utility Regulation
Regulators
The Utilities (CECONY and O&R) are subject to regulation by the NYSPSC, that under the New York Public Service Law, is authorized to set the terms of service and the rates the Utilities charge for providing service in New York. The NYSPSC also approves the issuance of the Utilities’ securities and transactions between the Utilities and Con Edison and its other subsidiaries.
New York Utility Industry
Restructuring in the 1990s
In accordance with NYSPSC orders, the Utilities sold all their electric generating facilities other than those that also produce steam for CECONY’s steam business and provided all their customers the choice to buy electricity or gas from the Utilities or other suppliers. In 2024, 58 percent of the electricity and 32 percent of the gas CECONY delivered to its customers, and 46 percent of the electricity and 21 percent of the gas O&R delivered to its customers, was purchased by the customers from other suppliers.
The Utilities are subject to regulation by the Federal Energy Regulatory Commission (FERC) with respect to electric transmission rates and to regulation by the NYSPSC with respect to electric and gas retail commodity sales and local delivery service. Certain activities of the Utilities and Con Edison Transmission are subject to the jurisdiction of the FERC.
The Companies are subject to cyber regulation by federal agencies, including FERC, the Transportation Security Agency and the Cybersecurity and Infrastructure Security Agency. The Utilities are subject to cyber regulation by the NYSPSC, that under the New York Public Service Law, is authorized to evaluate annually the utility’s customer privacy protections, including but not limited to, customer electric and gas consumption data, and protection of critical energy infrastructure. O&R’s subsidiary, RECO, is subject to cyber regulation by the NJBPU.
The Utilities
CECONY
CECONY is a subsidiary of Con Edison. Its principal business segments are its regulated electric, gas and steam businesses.
Electric Operations
Distribution Facilities
CECONY owns 63 area distribution substations and various distribution facilities located throughout New York City and Westchester County. As of December 31, 2024, the company’s distribution system had a transformer capacity of 32,496 MVA, with 37,935 miles of overhead distribution lines and 98,898 miles of underground distribution lines. The underground distribution lines represent the single longest underground electric delivery system in the United States.
Transmission Facilities
CECONY’s transmission facilities are located in New York City and Westchester, Orange, Rockland, Putnam and Dutchess counties in New York State. On December 31, 2024, the company owned or jointly owned 490 miles of overhead circuits operating at 138, 230, 345 and 500 kV and 760 miles of underground circuits operating at 69, 138 and 345 kV. The company’s 40 transmission substations and 63 area stations are supplied by circuits operated at 69 kV and above. CECONY’s transmission facilities interconnect with those of National Grid, Central Hudson Gas & Electric Corporation, O&R, New York State Electric & Gas, Eversource Energy, Long Island Power Authority, NYPA, New York Transco and Public Service Electric and Gas Company.
Generating Facilities
CECONY’s electric generating facilities consist of plants located in Manhattan whose primary purpose is to produce steam for the company's steam business and co-produce electricity. The facilities have a combined electric nameplate capacity of approximately 634 MW.
Electric Sales and Deliveries
CECONY delivers electricity to its full-service customers who purchase electricity from the company. Under the company's retail choice program, CECONY also delivers electricity to its customers who choose to purchase electricity from other load serving entities. In addition, the company delivers electricity to state and municipal customers of the NYPA. The company charges all customers in its service area for the delivery of electricity. The company generally recovers, on a current basis, the cost of the electricity that it buys and then sells to its full-service customers.
Electric Peak Demand
The electric peak demand in CECONY’s service area typically occurs during the summer air conditioning season. CECONY’s 2024 service area actual hourly peak demand (June-August) was 11,822 MW, which occurred on July 16, 2024.
The company estimates that, under Design Weather Conditions, the 2025 service area hourly peak demand be 12,610 MW. As of January 2025, the company forecasts an average annual increase in hourly electric peak demand in its service area at Design Weather Conditions over the next five years to be approximately 1 percent per year due to the anticipated increase in electric vehicles in CECONY's service territory, among other things, offset by the effect of certain energy efficiency programs. The five-year forecast in peak demand is used by the company for electric supply and capital expenditures planning purposes.
Electric Supply
Most of the electricity sold by CECONY to its full-service customers in 2024 was purchased through the wholesale electricity market administered by the NYISO. The company expects that resources again be adequate to meet the requirements of its customers in 2025. The company plans to meet its continuing obligation to supply electricity to its full-service customers through a combination of electricity purchased under contract, purchased through the NYISO’s wholesale electricity market, or generated from its electricity generating facilities.
CECONY owns generating stations in New York City associated primarily with its steam system and local reliability support. The generating stations have a combined electric nameplate capacity of approximately 780 MW.
Electric Reliability Needs
CECONY monitors the adequacy of the electric capacity resources and related developments in its service area and works with other parties on long-term resource adequacy within the framework of the NYISO reliability planning process.
Gas Operations
Gas Facilities
Natural gas is delivered by interstate pipelines to CECONY at various points in or near its service territory and is distributed to customers by the company through an estimated 4,384 miles of mains and 379,888 service lines. The company owns a natural gas liquefaction facility and storage tank at its Astoria property in Queens, New York. The plant store 1,062 MDt of which a maximum of about 240 MDt withdrawn per day. The company has approximately 1,226 MDt of additional natural gas storage capacity available to it at a field in upstate New York, owned and operated by Honeoye, a corporation 71.2 percent owned by Con Edison Transmission and 28.8 percent owned by CECONY. Con Edison Transmission and CECONY are considering strategic alternatives with respect to their investments in Honeoye.
Gas Sales and Deliveries
CECONY delivers gas to its full-service customers who purchase gas from the company. The company generally recovers the cost of the gas that it buys and then sells to its full-service customers. Under the company's retail choice program, CECONY also delivers gas to its customers who choose to purchase gas from other suppliers. CECONY’s gas delivery revenues are subject to a weather normalization clause and a revenue decoupling mechanism.
Gas Peak Demand
The gas actual peak day demand for firm gas customers in CECONY’s service area occurs during the winter heating season and during the winter of 2024/2025 (through January 31, 2025) occurred on January 21, 2025, when the firm gas customers' demand reached approximately 1,263 MDt. ‘Design Weather Conditions’ for the gas system is a standard to which the actual peak demand is adjusted for evaluation and planning purposes. The company estimates that, under Design Weather Conditions, the 2025/2026 service area peak day demand for firm gas customers be 1,650 MDt. The forecasted peak day demand for firm gas customers at design conditions does not include gas used by interruptible gas customers including electric and steam generating stations. As of January 2025, the company forecasts an average annual increase of the gas peak day demand for firm gas customers over the next five years at design conditions of approximately 0.1 percent in its service area. The five-year forecast in peak demand is used by the company for gas supply and capital expenditures planning purposes.
Gas Supply
CECONY and O&R have combined their gas requirements, and contracts to meet those requirements, into a single portfolio.
The Utilities have contracts with interstate pipeline companies for the purchase of firm transportation from upstream points where gas has been purchased to the Utilities’ distribution systems, and for upstream storage services. At December 31, 2024, the contracts were for various terms extending to 2027 for supply and 2046 for transportation and storage.
During 2024, CECONY entered no new transportation contracts and O&R entered in one new transportation contract that increased volume. In addition, the Utilities purchase gas on the spot market and contract for interruptible gas transportation.
Steam Operations
Steam Facilities
CECONY generates steam at one steam-electric generating station and four steam-only generating stations and distributes steam to its customers through approximately 106 miles of transmission, distribution and service piping.
Steam Peak Demand and Capacity
The steam actual hourly peak demand in CECONY’s service area occurs during the winter heating season and during the winter of 2024/2025 (through January 31, 2025) occurred on January 22, 2025, when the actual hourly demand reached approximately 7.1 MMlb per hour. ‘Design Weather Conditions’ for the steam system is a standard to which the actual hourly peak demand is adjusted for evaluation and planning purposes. The company’s estimate for the winter of 2025/2026 hourly peak demand of its steam customers is about 7.6 MMlb per hour under Design Weather Conditions. As of January 2025, the company forecasts an average annual decrease in steam hourly peak demand in its service area at Design Weather Conditions over the next five years to be approximately 0.4 percent. The five-year forecast in peak demand is used by the company for steam supply and capital expenditures planning purposes.
On December 31, 2024, the steam system was capable of delivering approximately 11.5 MMlb of steam per hour, and CECONY estimates that the system maintains the same capability throughout the 2025/2026 winter.
Steam Supply
33 percent of the steam produced by CECONY in 2024 was supplied by the company’s steam-only generating assets; 46 percent was produced by its steam-electric generating assets, where steam and electricity are primarily cogenerated; and 21 percent was purchased under an agreement with Brooklyn Navy Yard Cogeneration Partners L.P.
O&R
Electric Operations
Electric Facilities
O&R and RECO own, in whole or in part, transmission and distribution facilities which include 549 circuit miles of transmission lines, 15 transmission substations, 64 distribution substations, 90,755 in-service line transformers, 3,877 pole miles of overhead distribution lines and 2,405, miles of underground distribution lines. O&R’s transmission system is part of the NYISO system except that portions of RECO’s system are located within the transmission area controlled by PJM Interconnection LLC (PJM).
Electric Sales and Deliveries
O&R delivers electricity to its full-service customers who purchase electricity from the company. Under the company's retail choice program, O&R also delivers electricity to its customers who purchase electricity from load serving entities. The company charges all customers in its service area for the delivery of electricity.
Electric Peak Demand
The electric peak demand in O&R’s service area typically occurs during the summer air conditioning season. O&R’s 2024 service area actual hourly peak demand (June-August) was 1,484 MW, which occurred on July 16, 2024. The company estimates that, under Design Weather Conditions, the 2025 service area peak demand be 1,660 MW. As of January 2025, the company forecasts an average annual increase in hourly electric peak demand in its service area at design conditions over the next five years to be approximately 3.6 percent, including the effect of certain electric energy efficiency programs distributed generation additions, the anticipated phase-out of natural gas in certain new construction buildings in New York State, and the anticipated increase in electric vehicles in O&R's service territory. The five-year forecast in peak demand is used by the company for electric supply and capital planning purposes.
Electric Supply
The electricity O&R sold to its full-service customers in 2024 was purchased under firm power contracts or through the wholesale electricity market. The company plans to meet its continuing obligation to supply electricity to its customers through a combination of electricity purchased under contracts or purchased through the wholesale electricity market.
Gas Operations
Gas Facilities
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 1,900 miles of mains and 107,745 service lines.
Gas Sales and Deliveries
O&R delivers gas to its full-service customers who purchase gas from the company. O&R generally recovers the cost of the gas that it buys and then sells to its full-service customers. Under the company's retail choice program, O&R also delivers gas to its customers who choose to purchase gas from other suppliers.
Gas Peak Demand
The gas actual peak day demand for firm sales customers in O&R’s service area occurs during the winter heating season and during the winter of 2024/2025 (through January 31, 2025) occurred on January 21, 2025, when the firm sales customers' demand reached approximately 188 MDt. The company estimates that, under Design Weather Conditions, the 2025/2026 service area peak day demand for firm sales customers be 235 MDt. The forecasted peak day demand at design conditions does not include gas used by interruptible gas customers, including electric generating stations.
Gas Supply
O&R and CECONY have combined their gas requirements and purchase contracts to meet those requirements into a single portfolio.
Con Edison Transmission
Con Edison Transmission, through its subsidiaries, invests in electric transmission projects and manages, through joint ventures, both electric and gas assets while seeking to develop electric transmission projects.
Gas
Con Edison Transmission owns a 71.2 percent interest in Honeoye, a company that operates a gas storage facility in upstate New York and in which CECONY owns the remaining interest. Con Edison Transmission and CECONY are considering strategic alternatives with respect to their investments in Honeoye.
Con Edison Transmission owns a 6.7 percent interest in MVP as of December 31, 2024 that is expected to be reduced to approximately 6.6 percent. MVP is a joint venture among five partners, including Con Edison Transmission, that constructed and operates the Mountain Valley Pipeline, a 303-mile gas transmission project in West Virginia and Virginia that entered service in June 2024.
Clean Energy Businesses
On March 1, 2023, Con Edison completed the sale of all the stock of the Clean Energy Businesses.
Environmental Matters
CECONY is subject to carbon dioxide emissions regulations established by New York State under the Regional Greenhouse Gas Initiative (RGGI). CECONY is permitted by the New York State Department of Environmental Conservation (NYSDEC) to operate a hazardous waste storage facility on property owned by it in the Astoria section of Queens, New York.
History
Consolidated Edison, Inc. was founded in 1823. The company was incorporated in New York State in 1997.
