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Press Releases

2/3/2021 - Con Edison Customers Made 2020 an Impressive Year for Solar Energy
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Con Edison Customers Made 2020 an Impressive Year for Solar Energy
Source: PR Newswire
Orignial Article: https://contentapi.cision...
NEW YORK, Feb. 3, 2021 /PRNewswire/ -- Con Edison customers continued their rapid adoption of solar energy in 2020, despite the economic and logistical challenges the coronavirus pandemic posed.

Customers in New York City and Westchester County, N.Y. completed 5,542 arrays during the year. The panels customers placed on their roofs last year have the capacity to produce 44.77 megawatts, or 44.77 million watts.
"The pandemic caused a pause in construction and the recession created apprehension among people who wanted to invest in their homes and businesses," said Lenny Singh, Con Edison's senior vice president, Customer Energy Solutions. "But it's a tribute to our customers that they continued to choose clean, renewable solar energy. Our customers are our greatest asset as we seek to lead our state and region toward a clean energy future."
Con Edison customers have now completed more than 35,700 projects with the capacity to produce 322 megawatts. Those projects avoid 300,000 tons of carbon emissions and the amount of greenhouse gas emissions produced by more than 64,000 cars.
It's a lot of clean electricity. The panels customers have installed have the capacity to produce enough power to run more than 4 million 42-inch LED TVs.
Among the five boroughs of New York City and Westchester County, Queens has the most customer solar arrays, 11,334. When it comes to production, Westchester is the leader with the panels there having the capacity to produce 83.75 megawatts.
		Solar Energy in NYC and Westchester County
			Projects		Capacity (in megawatts)
Bronx			2,543		30.39
Brooklyn			5,767		47.2
Manhattan			272		7.27
Queens			11,334		83.01
Staten Island			8,455		70.59
Westchester County			7,341		83.75
Total			35,712		322.2
Customers in Queens completed the most projects last year – 2,064. That borough also added the most capacity, 13.35 megawatts.
A typical residential customer with a 6-kilowatt solar array can generate enough power to provide up to $700 in annual savings, helping reduce a bill by more than 60 percent.
Con Edison encourages customers to consider solar energy and tries to make the installation process faster, easier, and less expensive.
The company recently began offering solar installers and their customers a device called Smart ConnectDER, which allows a customer to avoid the cost of upgrading the home's circuit breaker panel and excessive electrical boxes on the side of the house.
The device can save a solar customer upwards of $1,000 and is available following a successful pilot program in 2019. Customers or installers who are interested can send an e-mail to ConnectDer@coned.com.
The company also sought and received New York State Public Service Commission approval to shorten the process for customers with solar projects up to 5 megawatts. Until this year, customers applying to interconnect these projects had to pay for a detailed engineering review that could take up to three months. This new process has shortened the interconnection timeline for dozens of projects.
Con Edison's efforts to speed the approval process include allowing developers to make payments electronically via Automated Clearing House or wire transfers.
The company has also enhanced a software program that streamlines communication and project inquiries between developers, applicants and Con Edison's Distributed Energy Services Group.
Through its Clean Energy Businesses, Con Edison Inc. is the second largest solar producer in North America and seventh largest in the world.
The company also supports utility ownership of large-scale renewable generation in New York State. Utility ownership would be less costly for customers since utilities can finance and operate these projects less expensively than private developers.
Adding more solar to the region's energy mix is part of Con Edison's Clean Energy Commitment.
Con Edison is a subsidiary of Consolidated Edison, Inc. [NYSE: ED], one of the nation's largest investor-owned energy companies, with approximately $13 billion in annual revenues and $60 billion in assets. The utility delivers electricity, natural gas and steam to 3.5 million customers in New York City and Westchester County, N.Y.
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View original content to download multimedia:http://www.prnewswire.com/news-releases/con-edison-customers-made-2020-an-impressive-year-for-solar-energy-301221544.html
SOURCE Consolidated Edison Company of New York

Article Date
2/3/2021
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1/27/2021 - Con Edison Outlines Pathway To Climate Resiliency And Adaptation
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Con Edison Outlines Pathway To Climate Resiliency And Adaptation
Source: PR Newswire
Orignial Article: https://contentapi.cision...
NEW YORK, Jan. 27, 2021 /PRNewswire/ -- Con Edison is enhancing how it plans and designs its energy delivery systems to make New York City and Westchester County more resilient against the intensifying effects of climate change.
In a report issued today, Con Edison details how it will incorporate climate change into its planning, design, operations, and emergency response. The company has taken a more proactive and forward-looking approach to climate resiliency in recent years, building on its energy industry leadership on the issue.
"The New York City region will continue to thrive in a climate-impacted 21^st century, but keeping ahead of climate change requires new ways of thinking and acting," said Nelson Yip, director of Strategic Planning, Con Edison. "The changes we are making today will help Con Edison maintain safe, reliable and resilient operations for our customers in the decades ahead."
Con Edison's energy infrastructure is vulnerable to climate change, and the company recognizes the global scientific consensus that these changes are accelerating.
The company's announced pathways prepare for the upper end of potential climate change, beyond the goals set out in the Paris Agreement.
Con Edison is already using its climate change projections for decision making in areas such as power supply forecasting, and will integrate climate considerations into other processes beginning in 2021. In addition, the company will form a new executive-level committee focused on climate risk and resilience.
Con Edison analyzed climate vulnerabilities across its energy delivery systems, culminating in a landmark study released in 2019. The Climate Change Implementation Plan, filed recently with the New York State Department of Public Service, represents the next step in the journey toward climate resilience.
The plan reflects not only the experience of experts across Con Edison, but also the feedback, input and experience of more than 50 stakeholders, including New York State Department of Public Service staff, municipal representatives and environmental advocacy organizations.
"The work by Con Edison to anticipate and prepare for extreme events caused or worsened by climate change advances the global state of the art," said Michael Gerrard, director of the Sabin Center for Climate Change Law at Columbia Law School. "It represents the innovative application of advanced climate science to the highly technical details of utility system management. It will benefit not only Con Edison's customers but also utility companies around the world that are looking for models on how to cope with climate change."
Climate change affects nearly every aspect of Con Edison's operations. It is accelerating the need to fortify key infrastructure, putting additional heat stress on field workers, and shifting energy consumption patterns.
The number of days when the average 24-hour temperature in Central Park is higher than 86 degrees could reach 21 per year by 2050 and 45 by 2080, compared to three such days historically.
Hotter temperatures will mean sharper spikes in summer energy consumption. That summer peak could be up to 900 megawatts higher by 2050, according to the company's projections.
At the same time, extreme storms are becoming more frequent. Con Edison's updated flood-design standard requires that new facilities built for 80 years of operation be able to accommodate an additional three feet of sea level rise – reflecting what is likely to be a much-altered planet by the end of the century.
While staying ahead of climate change will require additional investments, proactive efforts will bring immediate benefits by improving the "blue-sky" performance of New York's energy grid and paving the way for more renewable energy.
As part of its Clean Energy Commitment, Con Edison, Inc. has pledged to offer its customers the chance to buy 100 percent clean electricity by 2040, accelerate the move toward electric vehicles, and invest even more aggressively in energy efficiency. The company, through its Clean Energy Businesses, is North America's second largest generator of solar energy. Con Edison recently announced a landmark battery storage development in New York City.
While the Climate Change Implementation Plan provides a strong foundation for action, Con Edison will evolve its adaptation efforts over time based on new science and its customers' needs. It will review its climate projections annually and update them at least every five years. The company will provide regular public reporting on its progress through its annual Sustainability Report and other disclosures.
Con Edison supports New York's ambitious climate and clean energy goals and will do its part to help the state build back better from the COVID-19 pandemic.
Comments of participants/stakeholders:
Jainey Bavishi, Director of the Mayor's Office of Resiliency:

"As the climate crisis worsens, we must continually adapt our systems to ensure that New York City remains a global center of innovation and opportunity. Con Edison's efforts to harden its infrastructure and prepare for more severe extreme weather will strengthen resiliency citywide while increasing the reliability of the electric grid. We look forward to continuing to partner closely with them and our other local utilities to address climate vulnerabilities and fortify the critical infrastructure that all New Yorkers depend on."  
Elizabeth B. Stein, Lead Counsel, Energy Transition Strategy at Environmental Defense Fund:

"Con Edison's work to build climate risk into its long-term planning puts it at the forefront of utilities preparing to meet the demands of electrification. This is good news for New Yorkers who are poised to rely more and more on the electric grid as a source of clean energy – including the growing population of electric vehicle drivers." 
Julie Tighe, President of the New York League of Conservation Voters:

"Con Edison is leading on climate action by integrating climate change projections into everyday planning, design, and decision making. The step will make Con Edison more resilient to the effects of climate change and advance the green energy economy. We commend them on their bold environmental vision."
Anne Choate, Senior Vice President for Energy, Environment and Infrastructure at ICF:

"By establishing a clear pathway of anticipated change and integrating forward-looking climate information into core aspects of its business, Con Edison has the right foundation to manage their risks from a changing climate. Armed with this adaptive and proactive plan, Con Edison can make better investment decisions, protect its assets and workers, and support the resilience of its customers. We are proud to partner with them to set a new standard for climate resilience not only in New York, but across the country."
Con Edison is a subsidiary of Consolidated Edison, Inc. [NYSE: ED], one of the nation's largest investor-owned energy companies, with approximately $13 billion in annual revenues and $60 billion in assets. The utility delivers electricity, natural gas and steam to 3.5 million customers in New York City and Westchester County, N.Y.
 
View original content:http://www.prnewswire.com/news-releases/con-edison-outlines-pathway-to-climate-resiliency-and-adaptation-301216417.html
SOURCE Consolidated Edison, Inc.

Article Date
1/27/2021
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1/22/2021 - Con Edison To Report 2020 Earnings On February 18
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Con Edison To Report 2020 Earnings On February 18
Source: PR Newswire
Orignial Article: https://contentapi.cision...
NEW YORK, Jan. 22, 2021 /PRNewswire/ -- Consolidated Edison, Inc. (Con Edison) (NYSE:ED) plans to report its 2020 earnings on February 18, 2021 after the market closes.
Consolidated Edison, Inc. is one of the nation's largest investor-owned energy-delivery companies, with approximately $13 billion in annual revenues and $60 billion in assets. The company provides a wide range of energy-related products and services to its customers through the following subsidiaries: Consolidated Edison Company of New York, Inc., a regulated utility providing electric, gas and steam service in New York City and Westchester County, New York; Orange and Rockland Utilities, Inc., a regulated utility serving customers in a 1,300-square-mile-area in southeastern New York State and northern New Jersey; Con Edison Clean Energy Businesses, Inc., which through its subsidiaries develops, owns and operates renewable and energy infrastructure projects and provides energy-related products and services to wholesale and retail customers; and Con Edison Transmission, Inc., which through its subsidiaries invests in electric and natural gas transmission projects.
View original content:http://www.prnewswire.com/news-releases/con-edison-to-report-2020-earnings-on-february-18-301213471.html
SOURCE Consolidated Edison, Inc.

Article Date
1/22/2021
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1/21/2021 - Con Edison Declares Common Stock Dividend And Updates 2020 Guidance
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Con Edison Declares Common Stock Dividend And Updates 2020 Guidance
Source: PR Newswire
Orignial Article: https://contentapi.cision...
NEW YORK, Jan. 21, 2021 /PRNewswire/ -- Consolidated Edison, Inc. (Con Edison) (NYSE: ED) declared a quarterly dividend of 77.5 cents a share on its common stock, payable March 15, 2021 to stockholders of record as of February 17, 2021, an annualized increase of 4 cents over the previous annualized dividend of $3.06 a share.
"The 47th consecutive annual increase for stockholders, the longest period of consecutive annual dividend increases of any utility in the S&P 500 index, reflects our continued emphasis on providing a return to our investors while meeting the needs of our customers during the pandemic," said Robert Hoglund, Con Edison's senior vice president and chief financial officer. Primarily as a result of the financial impact of the pandemic, the company expects 2020 adjusted earnings to be at the low end of the guidance provided in November 2020 of $4.15 to $4.30 per share. The annualized dividend increase of 4 cents reflects the anticipated ongoing impact of the pandemic in 2021. The company continues to target a dividend payout ratio of between 60% and 70% of its adjusted earnings. Given the expected continuing impact of the pandemic, the company expects the payout to be above the target range for 2021.
This press release contains a financial measure, adjusted earnings per share, that is not determined in accordance with generally accepted accounting principles in the United States of America (GAAP). This non-GAAP financial measure should not be considered as an alternative to net income per share, which is an indicator of financial performance determined in accordance with GAAP. Adjusted earnings per share excludes from net income per share certain items that Con Edison does not consider indicative of its ongoing financial performance such as the effects of the Clean Energy Businesses' hypothetical liquidation at book value accounting for tax equity investors in certain renewable electric production projects and mark-to-market accounting. Management uses this non-GAAP financial measure to facilitate the analysis of Con Edison's financial performance as compared to its internal budgets and previous financial results and to communicate to investors and others Con Edison's expectations regarding its future earnings and dividends on its common stock. Management believes that this non-GAAP financial measure is also useful and meaningful to investors to facilitate their analysis of Con Edison's financial performance.
This press release contains forward-looking statements that are intended to qualify for the safe-harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are statements of future expectations and not facts. Words such as "forecasts," "expects," "estimates," "anticipates," "intends," "believes," "plans," "will," "target" and similar expressions identify forward-looking statements. The forward-looking statements reflect information available and assumptions at the time the statements are made, and accordingly speak only as of that time.
Actual results or developments might differ materially from those included in the forward-looking statements because of various factors such as those identified in reports Con Edison has filed with the Securities and Exchange Commission, including that Con Edison's subsidiaries are extensively regulated and are subject to penalties; its utility subsidiaries' rate plans may not provide a reasonable return; it may be adversely affected by changes to the utility subsidiaries' rate plans; the failure of, or damage to, its subsidiaries' facilities could adversely affect it; a cyber-attack could adversely affect it; the failure of processes and systems and the performance of employees and contractors could adversely affect it; it is exposed to risks from the environmental consequences of its subsidiaries' operations, including increased costs related to climate change; a disruption in the wholesale energy markets or failure by an energy supplier or customer could adversely affect it; it has substantial unfunded pension and other postretirement benefit liabilities; its ability to pay dividends or interest depends on dividends from its subsidiaries; it requires access to capital markets to satisfy funding requirements; changes to tax laws could adversely affect it; its strategies may not be effective to address changes in the external business environment; it faces risks related to health epidemics and other outbreaks, including the COVID-19 pandemic; and it also faces other risks that are beyond its control. Con Edison assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Consolidated Edison, Inc. is one of the nation's largest investor-owned energy-delivery companies, with approximately $13 billion in annual revenues and $60 billion in assets. The company provides a wide range of energy-related products and services to its customers through the following subsidiaries: Consolidated Edison Company of New York, Inc., a regulated utility providing electric, gas and steam service in New York City and Westchester County, New York; Orange and Rockland Utilities, Inc., a regulated utility serving customers in a 1,300-square-mile-area in southeastern New York State and northern New Jersey; Con Edison Clean Energy Businesses, Inc., which through its subsidiaries, develops, owns and operates renewable and energy infrastructure projects and provides energy-related products and services to wholesale and retail customers; and Con Edison Transmission, Inc., which through its subsidiaries invests in electric and natural gas transmission projects.
View original content:http://www.prnewswire.com/news-releases/con-edison-declares-common-stock-dividend-and-updates-2020-guidance-301212916.html
SOURCE Consolidated Edison, Inc.

Article Date
1/21/2021
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1/19/2021 - Con Edison Applauds United States Court Of Appeals Clean Energy Ruling
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Con Edison Applauds United States Court Of Appeals Clean Energy Ruling
Source: PR Newswire
Orignial Article: https://contentapi.cision...
NEW YORK, Jan. 19, 2021 /PRNewswire/ -- Con Edison applauds today's federal court decision striking down the rollback of historic greenhouse gas emission regulations. Con Edison was proud to be one of the litigants in this historic case, and we are eager to get to work with Congress and the incoming administration to finally implement the bold actions necessary to address the real and growing threat of climate change.
Read the decision here:

https://www.cadc.uscourts.gov/internet/opinions.nsf/6356486C5963F49185258662005677F6/$file/19-1140-1880546.pdf
Con Edison is a subsidiary of Consolidated Edison, Inc. [NYSE: ED], one of the nation's largest investor-owned energy companies, with approximately $13 billion in annual revenues and $60 billion in assets. The utility delivers electricity, natural gas and steam to 3.5 million customers in New York City and Westchester County, N.Y.
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View original content:http://www.prnewswire.com/news-releases/con-edison-applauds-united-states-court-of-appeals-clean-energy-ruling-301211209.html
SOURCE Consolidated Edison Company of New York

Article Date
1/19/2021
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1/19/2021 - Con Edison Can 'Connect' Customers With Solar Energy And Savings
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Con Edison Can 'Connect' Customers With Solar Energy And Savings
Source: PR Newswire
Orignial Article: https://contentapi.cision...
NEW YORK, Jan. 19, 2021 /PRNewswire/ -- Con Edison is offering, free of charge, a device that can save upwards of $1,000 for a residential customer installing a new solar array.
The Smart ConnectDER, built by ConnectDER, Con Edison's partner on the project, allows the customer to avoid the cost of upgrading the circuit breaker panel. It also eliminates the need for excessive electrical boxes on the side of the home.
The Smart ConnectDER is an adapter that uses the electric meter socket as a point of interconnection for solar power. It fits on most electric meters and works for solar arrays up to 15 kilowatts – meaning nearly all residential solar projects.
In addition, on homes where the meter socket is on an exterior wall, the installer does not have to enter the home to connect the solar to the home wiring. That means less contact and potential for coronavirus exposure between the installer and homeowner.
"Providing ConnectDER technology is another step we are taking to make it convenient for customers to choose renewable energy," said Alexandra Bykov, Con Edison's project manager. "Con Edison and our customers are leading the transition to a clean energy future, ensuring that our region will remain safe and sustainable."
"We're pleased to work with Con Edison to deliver quicker and safer solar connections for Greater New York," said Whit Fulton, the chief executive of ConnectDER. "We're also generating information on how, when, and where solar on the local power grid will be producing energy, which will help Con Edison plan infrastructure investments and increase the adoption of clean power. Con Edison is stalwart in its commitment to get innovative, win-win solutions like ours to their customers."
Con Edison provided 300 Smart ConnectDERs to customers during a successful pilot program in 2019.
Con Edison then sought and received permission from the New York State Public Service Commission to make ConnectDER technology available to new residential solar customers across New York City and Westchester County.
The New York State Energy Research and Development Authority chose the program for funding under its Future Grid Challenge, which encouraged companies to find ways to get more clean energy on the grid.
NYSERDA will pay for 2,400 units with Con Edison paying the installation costs for those devices. Con Edison will continue the program even after customers and their contractors install those 2,400 devices.
Smart ConnectDERs are simple and versatile. A solar contractor who wants to use a Smart ConnectDER for a customer's interconnection would send Con Edison a photo of the meter to confirm that the meter can accommodate the device.
Using a Smart ConnectDER can reduce interconnection time by up to several hours.
Customers or installers with questions can send an e-mail to ConnectDer@coned.com.
Con Edison encourages its customers to consider whether solar energy is right for them. The company has helped more than 35,000 customers complete rooftop projects and connect them to the grid. Those panels have the capacity to produce more than 320 megawatts of power.
As part of its Clean Energy Commitment, the company wants to make it possible for customers to buy 100 percent clean electricity by 2040. Con Edison Inc. is the second largest solar producer in North America and seventh largest in the world.
About ConnectDER Inc.

ConnectDER's mission is to make clean distributed resources the default source of power for the 21st century. ConnectDER's products are used by some of the largest electric power utilities and solar installers throughout the United States to simplify and accelerate the integration of distributed resources with the grid. For more information, please check out connectder.com.
About Con Edison

Con Edison is a subsidiary of Consolidated Edison, Inc. (NYSE: ED), one of the nation's largest investor-owned energy companies, with approximately $13 billion in annual revenues and $60 billion in assets. The utility delivers electricity, natural gas and steam to 3.5 million customers in New York City and Westchester County, N.Y.
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View original content:http://www.prnewswire.com/news-releases/con-edison-can-connect-customers-with-solar-energy-and-savings-301211047.html
SOURCE Consolidated Edison Company of New York

Article Date
1/19/2021
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12/10/2020 - Con Edison Test Driving E-School Buses Toward Improved Reliability And Cleaner Air
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Con Edison Test Driving E-School Buses Toward Improved Reliability And Cleaner Air
Source: PR Newswire
NEW YORK, Dec. 10, 2020 /PRNewswire/ -- Con Edison has begun using the batteries on five electric school buses to provide power to its customers, marking the first time in New York State that electricity has flowed from buses into a utility's grid.
By day, the e-buses from Lion Electric, a North American leader in heavy-duty zero emission transportation, carry students to an elementary school in White Plains. They displace runs by buses that burn diesel, meaning better air quality in the Westchester County community. https://players.brightcove.net/954168402001/default_default/index.html?videoId=6214267775001
Con Edison and its partners have begun sending power from the batteries into its grid, a milestone in a demonstration project Con Edison began in 2018. The five buses can each discharge 10 kilowatts. For the five buses, that's 50 kilowatts or 50,000 watts.
That is a small amount of power for a utility grid with the capacity to reliably serve millions of homes and businesses in Westchester County and New York City. But the goal of the project is to explore the technological and economic potential of using e-school buses on a wider scale to improve air quality and grid reliability.
There are approximately 1,000 school buses operating in Westchester and 8,000 in New York City that could make a significant difference if converted to electric.
"We think electric school buses may provide an opportunity to achieve two of our company's goals, which are reducing carbon emissions and maintaining our industry-leading reliability," said Brian Ross, Con Edison's manager for the project. "We are innovating to help our state and region achieve a clean energy future in which electric vehicles will have a big role."
The White Plains school district put the buses on the road for the 2018-2019 school year and has found them to be reliable transportation. The company and its partners have since developed solutions to technical challenges, such as coordinating communication between the buses, the chargers and the batteries.
The charging and discharging takes place at a depot in North White Plains. The buses plug into a charger when the demand for power is low. The chargers reverse the flow of power into the grid at times when the buses are not transporting children.
The buses are manufactured by Lion Electric in North America with vehicle-to-grid (V2G) technology, and operated for the school district by National Express.
"Our operators are dedicated to enabling the success of school bus electrification and V2G for the White Plains School District, with safety and reliability remaining our top priorities," said Charlie Bruce, senior vice president of Business Development for National Express.
"Our V2G software platform is designed to deliver grid services such as those to Con Edison from electric school buses," said Gregory Poilasne, chairman and CEO of Nuvve Corp. "The electric buses provide a cleaner environment for communities and help lower CO2 emissions while ensuring that driving energy needs are met every day."
Nuvve is a San Diego-based, green energy technology company and a leader in vehicle-to-grid and a partner in the White Plains project.
Con Edison contracted with First Priority Group to help develop and manage the project.
"Our goal was to bring industry experts together in a collaborative fashion to design and install one of the first true bi-directional V2G solutions in the U.S.," said Alex Cherepakhov, FPG's chairman and CEO. "Vehicle-to-Grid integration is the next step in the evolution of EV fleet power technology and we are pleased to have collaborated with our partners in making this happen."
National Express pays the energy costs during the school year. Con Edison, the New York State Energy Research and Development Authority and National Express contributed to paying for the buses. Con Edison and National Express paid for the chargers.
The upfront cost of electric school buses is higher than diesel buses. But using electric school buses for vehicle-to-grid purposes could make them more attractive to school districts, the communities they serve, and the bus operators that provide the service.
School schedules match up well with the power needs of Con Edison's 3.5 million customers. School buses are generally idle during the summer, which is when utility customers' need for power rises due to air conditioning. Discharging power from the buses into the grid at these times of high demand would take stress off Con Edison electric-distribution equipment.
Among the questions the project will answer is whether the frequent charging and discharging will speed the degradation of the batteries.
Con Edison is a subsidiary of Consolidated Edison, Inc. [NYSE: ED], one of the nation's largest investor-owned energy companies, with approximately $13 billion in annual revenues and $60 billion in assets. The utility provides electric, gas and steam service to more than three million customers in New York City and Westchester County, New York.
View original content:http://www.prnewswire.com/news-releases/con-edison-test-driving-e-school-buses-toward-improved-reliability-and-cleaner-air-301190805.html
SOURCE Consolidated Edison Company of New York

Article Date
12/10/2020
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12/1/2020 - Con Edison Announces Public Offering Of Common Shares
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Con Edison Announces Public Offering Of Common Shares
Source: PR Newswire
NEW YORK, Dec. 1, 2020 /PRNewswire/ -- Consolidated Edison, Inc. ("Con Edison") (NYSE: ED) announced today it has agreed to issue 7,200,000 of its common shares.  These common shares are being offered by BofA Securities under Con Edison's effective shelf registration statement filed with the Securities and Exchange Commission (the "Commission"). The underwriter may offer the common shares in transactions on the New York Stock Exchange LLC, in the over-the-counter market or through negotiated transactions at market prices or at negotiated prices.  The common shares are expected to be issued on December 4, 2020, subject to customary closing conditions.
Con Edison expects to use the net proceeds from the sale of the common shares to repay a portion of its existing term loan.
The offering is being made pursuant to Con Edison's effective shelf registration statement filed with the Commission. The preliminary prospectus supplement and the base prospectus related to the offering will be available on the Commission's website at http://www.sec.gov. Copies of the preliminary prospectus supplement and the base prospectus relating to the offering may be obtained from BofA Securities, NC1-004-03-43 200 North College Street, 3rd floor, Charlotte, North Carolina, 28255-0001, Attention: Prospectus Department, Email: dg.prospectus_requests@bofa.com. 
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.  The offering of these securities may be made only by means of the base prospectus and related prospectus supplement relating to the offering. 
This press release contains forward-looking statements that are intended to qualify for the safe-harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are statements of future expectations and not facts. Words such as "forecasts," "expects," "estimates," "anticipates," "intends," "believes," "plans," "will" and similar expressions identify forward-looking statements. The forward-looking statements reflect information available and assumptions at the time the statements are made, and accordingly speak only as of that time. Actual results or developments might differ materially from those included in the forward-looking statements because of various factors such as those identified in reports Con Edison has filed with the Commission, including that its subsidiaries are extensively regulated and are subject to penalties; its utility subsidiaries' rate plans may not provide a reasonable return; it may be adversely affected by changes to the utility subsidiaries' rate plans; the failure of, or damage to, its subsidiaries' facilities could adversely affect it; a cyber-attack could adversely affect it; the failure of processes and systems and performance of employees and contractors could adversely affect it; it is exposed to risks from the environmental consequences of its subsidiaries' operations, including increased costs related to climate change; a disruption in the wholesale energy markets or failure by an energy supplier or customer could adversely affect it; it has substantial unfunded pension and other postretirement benefit liabilities; its ability to pay dividends or interest depends on dividends from its subsidiaries; it requires access to capital markets to satisfy funding requirements; changes to tax laws could adversely affect it; its strategies may not be effective to address changes in the external business environment; it faces risk related to health epidemics and other outbreaks, including the COVID-19 pandemic; and it also faces other risks that are beyond its control.  Con Edison assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Consolidated Edison, Inc. is one of the nation's largest investor-owned energy-delivery companies. The company provides a wide range of energy-related products and services to its customers through the following subsidiaries: Consolidated Edison Company of New York, Inc., a regulated utility providing electric, gas and steam service in New York City and Westchester County, New York; Orange and Rockland Utilities, Inc., a regulated utility serving customers in a 1,300-square-mile-area in southeastern New York State and northern New Jersey; Con Edison Clean Energy Businesses, Inc., which through its subsidiaries develops, owns and operates renewable and energy infrastructure projects and provides energy-related products and services to wholesale and retail customers; and Con Edison Transmission, Inc., which through its subsidiaries invests in electric and gas transmission projects.
 
View original content:http://www.prnewswire.com/news-releases/con-edison-announces-public-offering-of-common-shares-301183105.html
SOURCE Consolidated Edison, Inc.

Article Date
12/1/2020
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11/20/2020 - Con Edison Wins 2020 ReliabilityOne® Award For Outstanding Metropolitan Service Area Performance In The Northeast Region
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Con Edison Wins 2020 ReliabilityOne® Award For Outstanding Metropolitan Service Area Performance In The Northeast Region
Source: PR Newswire
NEW YORK, Nov. 20, 2020 /PRNewswire/ -- Con Edison was recognized by PA Consulting as the recipient of the 2020 ReliabilityOne^® Award for Outstanding Reliability Performance in the Northeast Region Metropolitan Service Area. ReliabilityOne^® Awards are given annually to the utilities that have achieved outstanding reliability performance and have excelled in delivering the most reliable electric service to their customers.
Lance Becca, Con Edison's general manager for Brooklyn-Queens Electric Operations, also received a special ReliabilityOne award from PA Consulting acknowledging his "Outstanding Contribution to Reliability."
"As humbled and grateful as I am to receive this award, I am most honored by the company's award for Outstanding Metropolitan Service Area performance," Mr. Becca said. "As an energy company that supplies service to over ten million people, providing our customers with safe, reliable energy becomes an instilled value. I have the privilege of working alongside a group of many talented individuals who are dedicated to serving our communities in New York City and Westchester County. By engaging with one another in an inclusive environment, we collaborate on best practices, support each other, leverage technologies, and implement strategies that have proven to be best-in-class."
All utilities operating dense electric delivery networks in North America are eligible for consideration for the ReliabilityOne Award. There are eight metropolitan service regional awards including Northeast, Mid-Atlantic, Midwest, Plains, Mountains, West, Southeast, and Southwest. The selection of provisional recipients is based primarily on system reliability statistics that measure the frequency and duration of customer outages.
After provisional recipients are selected, each company undergoes an on-site certification process which provides an independent review and confirmation of the policies, processes and systems used to collect, analyze and report a company's reliability results.
"Severe weather and climate impacts are driving efforts to improve the resiliency of the distribution system and grid modernization initiatives," said Gregg Edeson, PA Consulting's ReliabilityOne^® Program Director. "Con Edison has established synergies in these efforts that optimize the infrastructure to operate effectively going forward."
About Con Edison
Con Edison is a subsidiary of Consolidated Edison, Inc. [NYSE: ED], one of the nation's largest investor-owned energy companies, with approximately $13 billion in annual revenues and $60 billion in assets. The utility delivers electricity, natural gas and steam to 3.5 million customers in New York City and Westchester County, N.Y. For financial, operations and customer service information, visit conEd.com. For energy efficiency information, visit coned.com/energyefficiency. Also, visit us on Twitter and Facebook.
About PA Consulting
We believe in the power of ingenuity to build a positive human future in a technology-driven world. As strategies, technologies and innovation collide, we create opportunity from complexity. Our diverse teams of experts combine innovative thinking and breakthrough use of technologies to progress further, faster. Our clients adapt and transform, and together we achieve enduring results. An innovation and transformation consultancy, we are over 3,200 specialists in consumer, defense and security, energy and utilities, financial services, government, health and life sciences, manufacturing, and transport. Our people are strategists, innovators, designers, consultants, digital experts, scientists, engineers and technologists. We operate globally from offices across the UK, US, Europe, and the Nordics. PA. Bringing Ingenuity to Life. www.paconsulting.com
PA's ReliabilityOne® awards are presented to electric utilities providing their customers with the highest levels of reliability in the industry. PA's ReliabilityOne® study is based on standard industry reliability statistics that measure the frequency and duration of electric power outages. ReliabilityOne® participants on average experienced 35% fewer sustained outages, and outages were 49% shorter than the average US investor owned utility. PA has been analyzing electric utility performance since 1987. For more information about PA Consulting, visit www.paconsulting.com/energy.
 
View original content:http://www.prnewswire.com/news-releases/con-edison-wins-2020-reliabilityone-award-for-outstanding-metropolitan-service-area-performance-in-the-northeast-region-301177886.html
SOURCE Consolidated Edison Company of New York

Article Date
11/20/2020
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11/5/2020 - Con Edison Reports 2020 Third Quarter Earnings
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Con Edison Reports 2020 Third Quarter Earnings
Source: PR Newswire
NEW YORK, Nov. 5, 2020 /PRNewswire/ -- Consolidated Edison, Inc. (Con Edison) (NYSE: ED) today reported 2020 third quarter net income for common stock of $493 million or $1.47 a share compared with $473 million or $1.42 a share in the 2019 third quarter. Adjusted earnings were $495 million or $1.48 a share in the 2020 period compared with $513 million or $1.54 a share in the 2019 period. Adjusted earnings in the 2020 and 2019 periods exclude the effects of hypothetical liquidation at book value (HLBV) accounting for tax equity investments in certain renewable electric production projects of Con Edison Clean Energy Businesses, Inc. (the Clean Energy Businesses) and the net mark-to-market effects of the Clean Energy Businesses.
For the first nine months of 2020, net income for common stock was $1,058 million or $3.17 a share compared with $1,048 million or $3.20 a share in the first nine months of 2019. Adjusted earnings were $1,147 million or $3.43 a share in the 2020 period compared with $1,149 million or $3.51 a share in the 2019 period. Adjusted earnings in the 2020 and 2019 periods exclude the effects of HLBV accounting for tax equity investments in certain renewable electric production projects of the Clean Energy Businesses and the net mark-to-market effects of the Clean Energy Businesses.
"As North America's second-largest solar provider, Con Edison is committed to delivering a clean energy future for all," said John McAvoy, chairman and CEO of Con Edison. "As part of our Clean Energy Commitment, we are harnessing the power of over 33,000 customer solar installation projects. We are also investing aggressively in Energy Efficiency and Electric Vehicle Charging programs to bring renewable and reliable energy to run New York's homes, businesses, and vehicles."
For the year of 2020, Con Edison expects its adjusted earnings per share to be in the range of $4.15 to $4.30 a share. The company's previous forecast was in the range of $4.15 to $4.35 per share. The change primarily reflects revised expectations due to the effect of the COVID-19 pandemic on the Utilities. Adjusted earnings per share exclude the effects of HLBV accounting for tax equity investments in certain of the Clean Energy Businesses' renewable electric production projects (approximately $(0.09) a share). Adjusted earnings per share also exclude the Clean Energy Businesses' net mark-to-market effects, the amount of which will not  be determinable until year end.
See Attachment A to this press release for a reconciliation of Con Edison's reported earnings per share to adjusted earnings per share and reported net income for common stock to adjusted earnings for the three and nine months ended September 30, 2020 and 2019. See Attachments B and C for the estimated effect of major factors resulting in variations in earnings per share and net income for common stock for the three and nine months ended September 30, 2020 compared to the 2019 periods.
The company's 2020 Third Quarter Form 10-Q is being filed with the Securities and Exchange Commission. A third quarter 2020 earnings release presentation will be available at www.conedison.com. (Select "For Investors" and then select "Press Releases.")
This press release contains forward-looking statements that are intended to qualify for the safe-harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are statements of future expectations and not facts. Words such as "forecasts," "expects," "estimates," "anticipates," "intends," "believes," "plans," "will" and similar expressions identify forward-looking statements. Forward-looking statements reflect information available and assumptions at the time the statements are made, and accordingly speak only as of that time.
Actual results or developments might differ materially from those included in the forward-looking statements because of various factors such as those identified in reports Con Edison has filed with the Securities and Exchange Commission, including that Con Edison's subsidiaries are extensively regulated and are subject to penalties; its utility subsidiaries' rate plans may not provide a reasonable return; it may be adversely affected by changes to the utility subsidiaries' rate plans; the failure of, or damage to, its subsidiaries' facilities could adversely affect it; a cyber-attack could adversely affect it; the failure of processes and systems and the performance of employees and contractors could adversely affect it; it is exposed to risks from the environmental consequences of its subsidiaries' operations, including increased costs related to climate change; a disruption in the wholesale energy markets or failure by an energy supplier or customer could adversely affect it; it has substantial unfunded pension and other postretirement benefit liabilities; its ability to pay dividends or interest depends on dividends from its subsidiaries; it requires access to capital markets to satisfy funding requirements; changes to tax laws could adversely affect it; its strategies may not be effective to address changes in the external business environment; it faces risks related to health epidemics and other outbreaks, including the COVID-19 pandemic; and it also faces other risks that are beyond its control. Con Edison assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. 
This press release also contains financial measures, adjusted earnings and adjusted earnings per share, that are not determined in accordance with generally accepted accounting principles in the United States of America (GAAP). These non-GAAP financial measures should not be considered as an alternative to net income for common stock or net income per share, each of which is an indicator of financial performance determined in accordance with GAAP. Adjusted earnings and adjusted earnings per share exclude from net income for common stock and net income per share certain items that Con Edison does not consider indicative of its ongoing financial performance such as the effects of the Clean Energy Businesses' HLBV accounting for tax equity investors in certain renewable electric production projects and mark-to-market accounting. Management uses these non-GAAP financial measures to facilitate the analysis of Con Edison's financial performance as compared to its internal budgets and previous financial results and to communicate to investors and others Con Edison's expectations regarding its future earnings and dividends on its common stock. Management believes that these non-GAAP financial measures are also useful and meaningful to investors to facilitate their analysis of Con Edison's financial performance.
Consolidated Edison, Inc. is one of the nation's largest investor-owned energy-delivery companies, with approximately $13 billion in annual revenues and $60 billion in assets. The company provides a wide range of energy-related products and services to its customers through the following subsidiaries: Consolidated Edison Company of New York, Inc. (CECONY), a regulated utility providing electric, gas and steam service in New York City and Westchester County, New York; Orange and Rockland Utilities, Inc. (O&R), a regulated utility serving customers in a 1,300-square-mile-area in southeastern New York State and northern New Jersey; Con Edison Clean Energy Businesses, Inc., which through its subsidiaries develops, owns and operates renewable and energy infrastructure projects and provides energy-related products and services to wholesale and retail customers; and Con Edison Transmission, Inc., which through its subsidiaries invests in electric and natural gas transmission projects.                                   
Attachment A
	For the Three Months Ended						For the Nine Months Ended
	September 30,						September 30,
	Earnings per Share			Net Income for Common Stock (Millions of Dollars)			Earnings per Share		Net Income for Common Stock (Millions of Dollars)
	2020		2019	2020	2019		2020	2019	2020	2019
Reported earnings per share (basic) and net income for common stock (GAAP basis)	$1.47		$1.42	$493	$473		$3.17	$3.20	$1,058	$1,048
HLBV effects of the Clean Energy Businesses (pre-tax)	0.03		0.10	9	30		0.11	0.25	38	79
Income taxes (a)	(0.01)		(0.03)	(2)	(7)		(0.03)	(0.07)	(9)	(19)
HLBV effects of the Clean Energy Businesses (net of tax)	0.02		0.07	7	23		0.08	0.18	29	60
Net mark-to-market effects of the Clean Energy Businesses (pre-tax)	(0.01)		0.07	(7)	23		0.25	0.18	80	54
Income taxes (b)	—		(0.02)	2	(6)		(0.07)	(0.05)	(20)	(13)
Net mark-to-market effects of the Clean Energy Businesses (net of tax)	(0.01)		0.05	(5)	17		0.18	0.13	60	41
Adjusted earnings per share and adjusted earnings (non-GAAP basis)	$1.48		$1.54	$495	$513		$3.43	$3.51	$1,147	$1,149


(a)	The amount of income taxes was calculated using a combined federal and state income tax rate of 22% and 24% for the three and nine months ended September 30, 2020, respectively, and a combined federal and state income tax rate of 23% and 24% for the three and nine months ended September 30, 2019, respectively.
(b)	The amount of income taxes was calculated using a combined federal and state income tax rate of 29% and 25% for the three and nine months ended September 30, 2020, respectively, and a combined federal and state income tax rate of 26% and 24% for the three and nine months ended September 30, 2019, respectively.
 


				Attachment B
Variation for the Three Months Ended September 30, 2020 vs. 2019
	Earnings per Share		Net Income for Common Stock (Millions of Dollars)
CECONY (a)
Changes in rate plans	$(0.02)		$(6)	Primarily reflects lower non-weather related steam net revenues due to lower usage by customers.
Operations and maintenance expenses	0.26		85	Reflects lower costs for pension and other postretirement benefits of $0.12 a share, which are reconciled under the rate plans, lower regulatory assessments and fees of $0.09 a share, which are collected in revenues from customers, and the deferral in September 2020, under the legislative, regulatory and related actions provisions of the company's electric and gas rate plans, of the previously recorded reserve increases to the allowance for uncollectible accounts associated with the Coronavirus Disease 2019 (COVID-19) pandemic of $0.02 a share, offset in part by estimated food and medicine spoilage claims related to outages caused by Tropical Storm Isaias of $(0.01) a share.
Depreciation, property taxes and other tax matters	(0.24)		(79)	Reflects higher depreciation and amortization expense of $(0.12) a share and higher property taxes of $(0.10) a share, both of which are recoverable under the rate plans and the absence in 2020 of a reduction in the sales and use tax reserve upon conclusion of the audit assessment of $(0.02) a share.
Other	(0.04)		(9)	Primarily reflects foregone revenues from the suspension of customers' late payment charges and certain other fees associated with the COVID-19 pandemic of $(0.05) a share and the dilutive effect of Con Edison's stock issuances of $(0.01) a share.
Total CECONY	(0.04)		$(9)
O&R (a)
Changes in rate plans	0.01		2	Reflects an electric base rate increase under the company's rate plans.
Operations and maintenance expenses	—		1	Reflects the deferral in September 2020, under the legislative, regulatory and related actions provision of the company's New York electric rate plan, of the previously recorded reserve increase to the allowance for uncollectible accounts associated with the COVID-19 pandemic, offset by estimated food and medicine spoilage claims related to outages caused by Tropical Storm Isaias.
Depreciation, property taxes and other tax matters	—		(1)
Total O&R	0.01		2
Clean Energy Businesses
Operating revenues less energy costs	—		2
Operations and maintenance expenses	(0.01)		(4)	Primarily reflects timing of maintenance costs.
Depreciation and amortization	(0.01)		(4)	Reflects an increase in renewable electric production projects in operation during 2020.
Net interest expense	0.09		29	Primarily reflects lower unrealized losses on interest rate swaps in the 2020 period.
HLBV effects	0.05		16	Primarily reflects lower losses from tax equity projects in the 2020 period.
Other	(0.02)		(5)	Primarily reflects the absence of a prior period adjustment related to research & development credits recorded in 2019.
Total Clean Energy Businesses	0.10		34
Con Edison Transmission	—		1
Other, including parent company expenses	(0.02)		(8)	Primarily reflects higher New York State income tax.
Total Reported (GAAP basis)	$0.05		$20
HLBV effects of the Clean Energy Businesses	(0.05)		(16)
Net mark-to-market effects of the Clean Energy Businesses	(0.06)		(22)	Reflects unrealized losses on interest rate swaps, offset in part by unrealized wholesale energy gains.
Total Adjusted (non-GAAP basis)	$(0.06)		$(18)
a.	Under the revenue decoupling mechanisms in the Utilities' New York electric and gas rate plans and the weather-normalization clause applicable to their gas businesses, revenues are generally not affected by changes in delivery volumes from levels assumed when rates were approved. In general, the Utilities recover on a current basis the fuel, gas purchased for resale and purchased power costs they incur in supplying energy to their full-service customers. Accordingly, such costs do not generally affect Con Edison's results of operations.
 
			Attachment C
Variation for the Nine Months Ended September 30, 2020 vs. 2019
	Earnings per Share	Net Income for Common Stock (Millions of Dollars)
CECONY (a)
Changes in rate plans	$0.07	$24	Primarily reflects higher gas net base revenues due to gas base rates increase in January 2020 under the company's gas rate plan.
Weather impact on steam revenues	(0.06)	(20)	Reflects the impact of warmer winter weather in the 2020 period.
Operations and maintenance expenses	0.69	227	Reflects lower costs for pension and other postretirement benefits of $0.41 a share, which are reconciled under the rate plans, lower regulatory assessments and fees that are collected in revenues from customers of $0.23 a share, lower stock-based compensation of $0.04 a share and lower healthcare costs of $0.02 a share, offset in part by estimated food and medicine spoilage claims related to outages caused by Tropical Storm Isaias of $(0.01) a share.
Depreciation, property taxes and other tax matters	(0.65)	(209)	Reflects higher depreciation and amortization expense of $(0.38) a share and higher property taxes of $(0.26) a share, both of which are recoverable under the rate plans, the absence in 2020 of a reduction in the sales and use tax reserve upon conclusion of the audit assessment of $(0.02) a share, offset in part by the Employee Retention Tax Credit under the CARES Act of $0.01 a share.
Other	(0.16)	(37)	Primarily reflects foregone revenues from the suspension of customers' late payment charges and certain other fees associated with the COVID-19 pandemic of $(0.10) a share and the dilutive effect of Con Edison's stock issuances of $(0.06) a share.
Total CECONY	(0.11)	(15)
O&R (a)
Changes in rate plans	0.04	11	Reflects electric and gas base rate increases of $0.03 a share and $0.01 a share, respectively, under the company's rate plans.
Operations and maintenance expenses	(0.02)	(5)	Primarily reflects incremental costs associated with the COVID-19 pandemic and estimated food and medicine spoilage claims related to outages caused by Tropical Storm Isaias.
Depreciation, property taxes and other tax matters	(0.01)	(4)	Reflects higher depreciation and amortization expense, offset in part by the Employee Retention Tax Credit under the CARES Act.
Other	(0.02)	(5)	Primarily reflects higher costs associated with components of pension and other postretirement benefits other than service cost of $(0.01) a share.
Total O&R	(0.01)	(3)
Clean Energy Businesses
Operating revenues less energy costs	0.01	4	Reflects higher revenues from renewable electric production projects of $0.05 a share, offset in part by lower energy services revenues of $(0.04) a share.
Operations and maintenance expenses	0.01	2	Primarily reflects lower energy services costs.
Depreciation and amortization	(0.01)	(3)	Reflects an increase in renewable electric production projects in operation during 2020.
Net interest expense	(0.03)	(9)	Primarily reflects higher unrealized losses on interest rate swaps in the 2020 period.
HLBV effects	0.10	31	Primarily reflects lower losses from tax equity projects in the 2020 period.
Other	0.01	2	Primarily reflects re-measurement of deferred tax assets and the Employee Retention Tax Credit under the CARES Act.
Total Clean Energy Businesses	0.09	27
Con Edison Transmission	0.02	4	Primarily reflects lower operations and maintenance expenses and higher allowance for funds used during construction (AFUDC) income from Mountain Valley Pipeline, LLC.
Other, including parent company expenses	(0.02)	(3)	Primarily reflects higher New York State income tax.
Total Reported (GAAP basis)	$(0.03)	$10
HLBV effects of the Clean Energy Businesses	(0.10)	(31)
Net mark-to-market effects of the Clean Energy Businesses	0.05	19	Primarily reflects unrealized losses on interest rate swaps.
Total Adjusted (non-GAAP basis)	$(0.08)	$(2)
a.	Under the revenue decoupling mechanisms in the Utilities' New York electric and gas rate plans and the weather-normalization clause applicable to their gas businesses, revenues are generally not affected by changes in delivery volumes from levels assumed when rates were approved. In general, the Utilities recover on a current basis the fuel, gas purchased for resale and purchased power costs they incur in supplying energy to their full-service customers. Accordingly, such costs do not generally affect Con Edison's results of operations.
 
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SOURCE Consolidated Edison, Inc.

Article Date
11/5/2020
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10/22/2020 - Con Edison Declares Common Stock Dividend
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Con Edison Declares Common Stock Dividend
Source: PR Newswire
NEW YORK, Oct. 22, 2020 /PRNewswire/ -- Consolidated Edison, Inc. (Con Edison) (NYSE: ED) declared a quarterly dividend of 76.5 cents a share on its common stock, payable December 15, 2020 to stockholders of record as of November 18, 2020.
Consolidated Edison, Inc. is one of the nation's largest investor-owned energy-delivery companies, with approximately $13 billion in annual revenues and $59 billion in assets. The company provides a wide range of energy-related products and services to its customers through the following subsidiaries: Consolidated Edison Company of New York, Inc., a regulated utility providing electric, gas and steam service in New York City and Westchester County, New York; Orange and Rockland Utilities, Inc., a regulated utility serving customers in a 1,300-square-mile-area in southeastern New York State and northern New Jersey; Con Edison Clean Energy Businesses, Inc., which through its subsidiaries develops, owns and operates renewable and energy infrastructure projects and provides energy-related products and services to wholesale and retail customers; and Con Edison Transmission, Inc., which through its subsidiaries invests in electric and natural gas transmission projects.
View original content:http://www.prnewswire.com/news-releases/con-edison-declares-common-stock-dividend-301158418.html
SOURCE Consolidated Edison, Inc.

Article Date
10/22/2020
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10/21/2020 - Con Edison To Report 3rd Quarter 2020 Earnings On November 5
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Con Edison To Report 3rd Quarter 2020 Earnings On November 5
Source: PR Newswire
NEW YORK, Oct. 21, 2020 /PRNewswire/ -- Consolidated Edison, Inc. (Con Edison) (NYSE: ED) plans to report its 3rd Quarter 2020 earnings on November 5, 2020 after the market closes.
Consolidated Edison, Inc. is one of the nation's largest investor-owned energy-delivery companies, with approximately $13 billion in annual revenues and $59 billion in assets. The company provides a wide range of energy-related products and services to its customers through the following subsidiaries: Consolidated Edison Company of New York, Inc., a regulated utility providing electric, gas and steam service in New York City and Westchester County, New York; Orange and Rockland Utilities, Inc., a regulated utility serving customers in a 1,300-square-mile-area in southeastern New York State and northern New Jersey; Con Edison Clean Energy Businesses, Inc., which through its subsidiaries develops, owns and operates renewable and energy infrastructure projects and provides energy-related products and services to wholesale and retail customers; and Con Edison Transmission, Inc., which through its subsidiaries invests in electric and natural gas transmission projects.
View original content:http://www.prnewswire.com/news-releases/con-edison-to-report-3rd-quarter-2020-earnings-on-november-5-301157444.html
SOURCE Consolidated Edison, Inc.

Article Date
10/21/2020
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9/28/2020 - Con Edison Providing Smart Gas Detectors In Major Breakthrough For Customer Safety
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Con Edison Providing Smart Gas Detectors In Major Breakthrough For Customer Safety
Source: PR Newswire
NEW YORK, Sept. 28, 2020 /PRNewswire/ -- Con Edison is installing 376,000 smart-technology natural gas detectors for customers in New York City and Westchester County, providing an unprecedented level of protection against potentially dangerous leaks.
The distribution of the detectors follows a successful pilot in which Con Edison provided 9,000 detectors. Those detectors sounded 250 alarms since the first installations in October 2018.
The company places the detectors at the spot inside the building where the gas service line enters. When the detector senses natural gas, it sounds an alarm and voice warning. It also alerts operators at Con Edison's Gas Emergency Response Center, who notify the local fire department.
"This is a life-saving technology," said Marc Huestis, Con Edison's senior vice president, Gas Operations. "These detectors urge anyone nearby to leave and prompt a swift response from our gas crews and the local fire department so that they can shut off the gas, find the leak and make it safe."
The alarm will sound until Con Edison silences the unit. The voice recording advises occupants to evacuate and call 911 from outside the building.
Using a phone, turning lights, appliances or a flashlight on or off, lighting a match or starting a car can create a spark and cause the gas to ignite.
New Rochelle resident Clarence Stanley was part of the pilot program and he's thankful that he was.
One night this summer, he got out of bed to watch TV and catch up on sports scores and the political shows he enjoys when he heard the alarm. He woke his wife and called Con Edison from a phone not located near the basement. A Con Edison representative who answered advised him to leave the house.
By the time of his call, Con Edison and New Rochelle fire personnel were already on their way. As the Stanleys waited outside, the crews arrived.
It turned out that there was a small gas leak, which Con Edison repaired.
"This is an extra layer of protection and I'm glad we had it," Stanley said of the device. "It was a small leak but this ultra-sensitive device detected it."
Con Edison was the first utility in the United States to deploy the technology, a product of New Cosmos, when it began the pilot in Lower Manhattan and several Westchester County communities.
The company has 376,000 gas service lines, which carry gas from the main in the street to the customer's home or business. Those lines serve the company's 1.1 million gas customers. The service line usually enters the building in the basement near the gas meter.
The company will install all the detectors by 2025 under a $130 million program. Each installation takes less than an hour and there is no charge to the customer. Installation does not require gas service to be turned off and customers do not have to perform any maintenance on the detectors once they are installed.
The devices will not detect gas in other areas of a building. Con Edison recommends that building owners and tenants place gas detectors in areas where natural gas appliances are used.
The current version of the detector lasts six years. Due to technology improvements, those installed starting in the middle of next year will last seven years and those installed starting in 2023 will have a 10-year lifespan.
How to Recognize a Gas Leak
A person in a building may smell natural gas before the detector's alarm sounds. If you think you smell gas, act fast. Leave the home or business and take others with you. Report the leak by calling 911 or 1-800-75CONED once you are safely outside. Do not assume that someone else will call.
Natural gas carries an odorant that smells like rotten eggs. A leak may cause a roaring, hissing or whistling sound. See other natural gas safety tips.
Con Edison is a subsidiary of Consolidated Edison, Inc. [NYSE: ED], one of the nation's largest investor-owned energy companies, with approximately $13 billion in annual revenues and $59 billion in assets. The utility delivers electricity, natural gas and steam to 3.5 million customers in New York City and Westchester County, N.Y. For financial, operations and customer service information, visit conEd.com. For energy efficiency information, visit coned.com/energyefficiency. Also, visit us on Twitter and Facebook.
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SOURCE Consolidated Edison Company of New York

Article Date
9/28/2020
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9/17/2020 - Con Edison Names Timothy Cawley Chief Executive Officer; Con Edison of New York Names Matthew Ketschke President
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Con Edison Names Timothy Cawley Chief Executive Officer; Con Edison of New York Names Matthew Ketschke President
Source: PR Newswire
NEW YORK, Sept. 17, 2020 /PRNewswire/ -- Consolidated Edison, Inc. ("Con Edison") (NYSE:ED) today announced that its Board of Directors has elected Tim Cawley as Con Edison's president and chief executive officer, effective January 1, 2021. Cawley will also serve as chief executive officer of Con Edison's principal subsidiary, Consolidated Edison Company of New York, Inc.
After 40 years of service, John McAvoy has decided to retire as president and chief executive officer at the end of the year. He will remain the chairman of the board. McAvoy, who is 60, joined the company in 1980 and has served as president and chief executive officer since 2014.
"John has been a remarkable leader during incredibly transformative times in the energy industry. John is a national leader in the clean energy and renewable space. He is one of the most effective CEOs I have ever had the pleasure of working with," said Mike Ranger, lead director of the Board. "The Board is truly grateful that John has decided to continue to serve as chairman. We are also excited that his focus in succession planning has allowed us to appoint new leadership from within the company."
"Tim Cawley is an accomplished leader with extensive experience in the energy industry. I have had the pleasure of working with Tim for many years and know he is the right person to lead the company. He understands the needs of our customers, our employees and all of our stakeholders," McAvoy said. "Tim is an innovator in the clean energy and renewable space and will ably guide the company into the future."
Cawley, 55, was appointed president of Consolidated Edison Company of New York in 2018. Prior to this position, he served as president and chief executive officer of Orange and Rockland Utilities, Inc. for 4 years. Since joining the company in 1987, Cawley served as senior vice president of Central Operations with responsibilities for steam and electric generation, transmission and substation operations and construction activities. He also held leadership positions in Electric Operations. Cawley holds an MBA from New York University and a BS in electrical engineering from Union College. Tim's accomplishments are substantial and his strategic thinking is visionary. He is respected by all who know him.
Matt Ketschke, currently senior vice president of Customer Energy Solutions, will be promoted to president of Consolidated Edison of New York, effective January 1, 2021.  He is a recognized industry leader in areas such as energy efficiency, smart meters, electric vehicles and battery storage. His work has positioned Con Edison in the forefront of the future energy industry. Ketschke, 48, joined the company in 1995 as a management intern. He has held officer positions in Electric Operations and Distributed Resource Integration as well as leadership positions in Electric Construction and System and in Human Resources. He was also the director of the Learning Center. Ketschke holds a BS in mechanical engineering and an MS in management from Stevens Institute of Technology, and completed an Executive MBA at Columbia University. He is a Rockefeller Fellow.
Consolidated Edison, Inc. is one of the nation's largest investor-owned energy-delivery companies, with approximately $13 billion in annual revenues and $59 billion in assets. The company provides a wide range of energy-related products and services to its customers through the following subsidiaries: Consolidated Edison Company of New York, Inc. (CECONY), a regulated utility providing electric, gas and steam service in New York City and Westchester County, New York; Orange and Rockland Utilities, Inc. (O&R), a regulated utility serving customers in a 1,300-square-mile-area in southeastern New York State and northern New Jersey; Con Edison Clean Energy Businesses, Inc., which through its subsidiaries develops, owns and operates renewable and energy infrastructure projects and provides energy-related products and services to wholesale and retail customers; and Con Edison Transmission, Inc., which through its subsidiaries invests in electric and natural gas transmission projects.
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SOURCE Consolidated Edison, Inc.

Article Date
9/17/2020
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9/9/2020 - Con Edison To Install Weather Stations To Gather Climate Change Data
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Con Edison To Install Weather Stations To Gather Climate Change Data
Source: PR Newswire
NEW YORK, Sept. 9, 2020 /PRNewswire/ -- Con Edison and the State University of New York at Albany will place 17 weather-monitoring stations at company properties to gather data that will help the company better understand climate trends.
The "New York City Micronet" project will help Con Edison understand how the local climate is changing. It will also provide information on warming trends within the city. The information from the sensors will help the company perform more detailed analysis than previously possible.
The company's conclusions will help guide the investments it makes to protect its energy-delivery systems from severe weather events.
"Climate change makes smart infrastructure planning and design essential," said Charles Viemeister, Con Edison's project manager. "We'll use data from the Micronet to gain additional insight into the local short-term and longer-term impacts of climate change. We are always looking for technologies that can help us maintain the resilient, reliable service our customers need."
Six of the monitoring stations will be on the roofs of Con Edison buildings and 11 will be at ground level. These stations will monitor real-time temperature, pressure, wind speeds and direction, precipitation and other weather variables. One device will be on a dock off West 59^th Street and monitor temperatures in the Hudson River.
The tallest station will be 30 feet and placed at a property in the Fresh Kills area of Staten Island. The stations produce no noise and will blend in with the other Con Edison equipment on each property.
The stations will send the data to the NYS Mesonet, infrastructure at the university. Con Edison will be able to view and download the data, which will be available to the public.
The Mesonet consists of 126 weather stations and is the largest early-warning, weather-detection network in the nation. The Mesonet stations are in every county in the state.
"This partnership with Con Edison is the latest example of NYS Mesonet providing a service to make our state more resilient to weather extremes and better inform weather risk-management decisions," said Chris Thorncroft, director of the NYS Mesonet, along with UAlbany's Atmospheric Sciences Research Center and Weather and Climate Analytics Center of Excellence. "UAlbany has access to the largest concentration of atmospheric, climate and environmental researchers in New York. We continue to create smart business solutions to empower industry partners statewide."
The partners plan to have the stations up by the end of the year. Con Edison is investing $3 million in the project. That includes a $1.6 million contract with the university.
Con Edison has been proactive in fortifying its systems against severe weather. Following Hurricane Sandy in 2012, the company spent $1 billion over four years to harden its electric, gas and steam infrastructure.
The company is now in the midst of a $100 million program to make additional upgrades to the overhead electric-delivery system in Westchester County.
Last December, the company completed a 36-month study into the impact climate change could have on the company's systems. The report estimated the company might need to invest between $1.8 billion and $5.2 billion by 2050 on targeted programs to protect its systems.
Con Edison is a subsidiary of Consolidated Edison, Inc. [NYSE: ED], one of the nation's largest investor-owned energy companies, with approximately $13 billion in annual revenues and $59 billion in assets. The utility delivers electricity, natural gas and steam to 3.5 million customers in New York City and Westchester County, N.Y. For financial, operations and customer service information, visit conEd.com.
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SOURCE Con Edison

Article Date
9/9/2020
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8/6/2020 - Con Edison Reports 2020 Second Quarter Earnings
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Con Edison Reports 2020 Second Quarter Earnings
Source: PR Newswire
NEW YORK, Aug. 6, 2020 /PRNewswire/ -- Consolidated Edison, Inc. (Con Edison) (NYSE: ED) today reported 2020 second quarter net income for common stock of $190 million or $0.57 a share compared with $152 million or $0.46 a share in the 2019 second quarter. Adjusted earnings were $201 million or $0.60 a share in the 2020 period compared with $189 million or $0.58 a share in the 2019 period. Adjusted earnings in the 2020 and 2019 periods exclude the effects of hypothetical liquidation at book value (HLBV) accounting for tax equity investments in certain renewable electric production projects of Con Edison Clean Energy Businesses, Inc. (the Clean Energy Businesses) and the net mark-to-market effects of the Clean Energy Businesses.
For the first six months of 2020, net income for common stock was $565 million or $1.69 a share compared with $576 million or $1.77 a share in the first six months of 2019. Adjusted earnings were $652 million or $1.95 a share in the 2020 period compared with $637 million or $1.96 a share in the 2019 period. Adjusted earnings in the 2020 and 2019 periods exclude the effects of HLBV accounting for tax equity investments in certain renewable electric production projects of the Clean Energy Businesses and the net mark-to-market effects of the Clean Energy Businesses.
"We are facing today's unprecedented challenges by providing essential and reliable service during the pandemic. We understand the hardship that Tropical Storm Isaias has had on our customers, and we are working around the clock to restore service. We are currently restoring the approximately 300,000 and 225,000 electric customers at CECONY and O&R, respectively, interrupted from Tropical Storm Isaias, the second worst storm in our company's history; 65% of our customers have been restored as of this afternoon," said John McAvoy, chairman and CEO of Con Edison. "We are charting a path to a clean energy future as North America's second-largest solar provider, as well as through our aggressive Energy Efficiency and Electric Vehicle Charging programs. We also are placing a top priority on confronting and addressing any racism, inequities, or discrimination within our diverse workforce as we expand our Diversity and Inclusion programs and metrics."
For the year of 2020, Con Edison reaffirmed its previous forecast of adjusted earnings in the range of $4.15 to $4.35 per share. Adjusted earnings per share exclude the effects of HLBV accounting for tax equity investments in certain of the Clean Energy Businesses' renewable electric production projects (approximately $(0.09) a share). Adjusted earnings per share also exclude the Clean Energy Businesses' net mark-to-market effects, the amount of which will not be determinable until year end.
See Attachment A to this press release for a reconciliation of Con Edison's reported earnings per share to adjusted earnings per share and reported net income for common stock to adjusted earnings for the three and six months ended June 30, 2020 and 2019. See Attachments B and C for the estimated effect of major factors resulting in variations in earnings per share and net income for common stock for the three and six months ended June 30, 2020 compared to the 2019 period.
The company's Second Quarter Form 10-Q is being filed with the Securities and Exchange Commission. A second quarter 2020 earnings release presentation will be available at www.conedison.com. (Select "For Investors" and then select "Press Releases.")
This press release contains forward-looking statements that are intended to qualify for the safe-harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are statements of future expectations and not facts. Words such as "forecasts," "expects," "estimates," "anticipates," "intends," "believes," "plans," "will" and similar expressions identify forward-looking statements. Forward-looking statements reflect information available and assumptions at the time the statements are made, and accordingly speak only as of that time.
Actual results or developments may differ materially from those included in the forward-looking statements because of various factors such as those identified in reports Con Edison has filed with the Securities and Exchange Commission, including that Con Edison's subsidiaries are extensively regulated and are subject to penalties; its utility subsidiaries' rate plans may not provide a reasonable return; it may be adversely affected by changes to the utility subsidiaries' rate plans; the failure of, or damage to, its subsidiaries' facilities could adversely affect it; a cyber-attack could adversely affect it; the failure of processes and systems and the performance of employees and contractors could adversely affect it; it is exposed to risks from the environmental consequences of its subsidiaries' operations, including increased costs related to climate change; a disruption in the wholesale energy markets or failure by an energy supplier or customer could adversely affect it; it has substantial unfunded pension and other postretirement benefit liabilities; its ability to pay dividends or interest depends on dividends from its subsidiaries; it requires access to capital markets to satisfy funding requirements; changes to tax laws could adversely affect it; its strategies may not be effective to address changes in the external business environment; it faces risks related to health epidemics and other outbreaks, including the COVID-19 pandemic; and it also faces other risks that are beyond its control. Con Edison assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
This press release also contains financial measures, adjusted earnings and adjusted earnings per share, that are not determined in accordance with generally accepted accounting principles in the United States of America (GAAP). These non-GAAP financial measures should not be considered as an alternative to net income for common stock or net income per share, each of which is an indicator of financial performance determined in accordance with GAAP. Adjusted earnings and adjusted earnings per share exclude from net income for common stock and net income per share certain items that Con Edison does not consider indicative of its ongoing financial performance such as the effects of the Clean Energy Businesses' HLBV accounting for tax equity investors in certain renewable electric production projects and mark-to-market accounting. Management uses these non-GAAP financial measures to facilitate the analysis of Con Edison's financial performance as compared to its internal budgets and previous financial results and to communicate to investors and others Con Edison's expectations regarding its future earnings and dividends on its common stock. Management believes that these non-GAAP financial measures are also useful and meaningful to investors to facilitate their analysis of Con Edison's financial performance.
Consolidated Edison, Inc. is one of the nation's largest investor-owned energy-delivery companies, with approximately $13 billion in annual revenues and $59 billion in assets. The company provides a wide range of energy-related products and services to its customers through the following subsidiaries: Consolidated Edison Company of New York, Inc. (CECONY), a regulated utility providing electric, gas and steam service in New York City and Westchester County, New York; Orange and Rockland Utilities, Inc. (O&R), a regulated utility serving customers in a 1,300-square-mile-area in southeastern New York State and northern New Jersey; Con Edison Clean Energy Businesses, Inc., which through its subsidiaries develops, owns and operates renewable and energy infrastructure projects and provides energy-related products and services to wholesale and retail customers; and Con Edison Transmission, Inc., which through its subsidiaries invests in electric and natural gas transmission projects.
Attachment A
	For the Three Months Ended						For the Six Months Ended
	June 30,						June 30,
	Earnings per Share			Net Income for Common Stock (Millions of Dollars)			Earnings per Share		Net Income for Common Stock (Millions of Dollars)
	2020		2019	2020	2019		2020	2019	2020	2019
Reported earnings per share (basic) and net income for common stock (GAAP basis)	$0.57		$0.46	$190	$152		$1.69	$1.77	$565	$576
HLBV effects of the Clean Energy Businesses (pre-tax)	0.04		0.10	12	28		0.10	0.15	29	49
Income taxes (a)	(0.01)		(0.03)	(3)	(7)		(0.03)	(0.04)	(7)	(12)
HLBV effects of the Clean Energy Businesses (net of tax)	0.03		0.07	9	21		0.07	0.11	22	37
Net mark-to-market effects of the Clean Energy Businesses (pre-tax)	—		0.07	3	21		0.26	0.11	86	32
Income taxes (b)	—		(0.02)	(1)	(5)		(0.07)	(0.03)	(21)	(8)
Net mark-to-market effects of the Clean Energy Businesses (net of tax)	—		0.05	2	16		0.19	0.08	65	24
Adjusted earnings per share and adjusted earnings (non-GAAP basis)	$0.60		$0.58	$201	$189		$1.95	$1.96	$652	$637
(a)	The amount of income taxes was calculated using a combined federal and state income tax rate of 25% and 24% for the three and six months ended June 30, 2020 and 2019, respectively.
(b)	The amount of income taxes was calculated using a combined federal and state income tax rate of 25% and 24% for the three and six months ended June 30, 2020, respectively, and a combined federal and state income tax rate of 24% and 25% for the three and six months ended June 30, 2019, respectively.
 
					Attachment B
Variation for the Three Months Ended June 30, 2020 vs. 2019
	Earnings per Share		Net Income for Common Stock (Millions of Dollars)
CECONY (a)
Changes in rate plans	($0.02)		($8)		Primarily reflects lower non-weather related steam net revenues due to lower usage by customers.
Weather impact on steam revenues	0.01		4		Reflects the impact of warmer spring weather in the 2019 period.
Operations and maintenance expenses	0.22		74		Reflects lower costs for pension and other postretirement benefits of $0.12 a share, which are reconciled under the rate plans, lower regulatory assessments and fees that are collected in revenues from customers of $0.07 a share, lower healthcare costs of $0.03 a share, lower stock-based compensation of $0.02 a share, and lower consultant costs of $0.01 a share, offset in part by incremental costs associated with the Coronavirus Disease 2019 (COVID-19) pandemic of $(0.06) a share.
Depreciation, property taxes and other tax matters	(0.19)		(63)		Reflects higher depreciation and amortization expense of $(0.13) a share and higher property taxes of $(0.07) a share, both of which are recoverable under the rate plans, offset in part by the Employee Retention Tax Credit under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) of $0.01 a share.
Other	(0.03)		(7)		Primarily reflects foregone revenues from the suspension of customers' late payment charges and certain other fees associated with COVID-19 of $(0.04) a share and the dilutive effect of Con Edison's stock issuances of $(0.01) a share.
Total CECONY	(0.01)		—
O&R (a)
Changes in rate plans	0.01		4		Reflects an electric base rate increase of $0.01 a share under the company's rate plans.
Operations and maintenance expenses	(0.01)		(3)		Primarily reflects incremental costs associated with COVID-19.
Depreciation, property taxes and other tax matters	—		(1)		Reflects higher depreciation and amortization expense, offset in part by the Employee Retention Tax Credit under the CARES Act.
Other	(0.01)		(4)		Primarily reflects higher costs associated with components of pension and other postretirement benefits other than service cost of $(0.01) a share.
Total O&R	(0.01)		(4)
Clean Energy Businesses
Operating revenues less energy costs	0.01		4		Reflects higher revenues from renewable electric production projects of $0.02 a share, offset in part by lower energy services revenues of $(0.01) a share.
Operations and maintenance expenses	0.01		2		Primarily reflects lower energy services costs.
Net interest expense	0.06		18		Primarily reflects lower unrealized losses on interest rate swaps in the 2020 period.
HLBV effects	0.04		12		Primarily reflects lower losses from tax equity projects.
Other	0.01		4		Primarily reflects the Employee Retention Tax Credit under the CARES Act.
Total Clean Energy Businesses	0.13		40
Con Edison Transmission	—		2		Primarily reflects lower operations and maintenance expenses and higher allowance for funds used during construction (AFUDC) income from Mountain Valley Pipeline, LLC.
Other, including parent company expenses	—		—
Total Reported (GAAP basis)	$0.11		$38
HLBV effects of the Clean Energy Businesses	(0.04)		(12)
Net mark-to-market effects of the Clean Energy Businesses	(0.05)		(14)		Reflects unrealized losses on interest rate swaps, offset in part by unrealized wholesale energy gains.
Total Adjusted (non-GAAP basis)	$0.02		$12
a.

Under the revenue decoupling mechanisms in the Utilities' New York electric and gas rate plans and the weather-normalization clause applicable to their gas businesses, revenues are generally not affected by changes in delivery volumes from levels assumed when rates were approved. In general, the Utilities recover on a current basis the fuel, gas purchased for resale and purchased power costs they incur in supplying energy to their full-service customers. Accordingly, such costs do not generally affect Con Edison's results of operations.
 
				Attachment C
Variation for the Six Months Ended June 30, 2020 vs. 2019
	Earnings per Share		Net Income for Common Stock (Millions of Dollars)
CECONY (a)
Changes in rate plans	$0.10		$31	Reflects higher electric and gas net base revenues of $0.02 a share and $0.08 a share, respectively, primarily due to electric and gas base rate increases in January 2019 under the company's rate plans.
Weather impact on steam revenues	(0.06)		(21)	Reflects the impact of warmer winter weather in the 2020 period.
Operations and maintenance expenses	0.43		140	Reflects lower costs for pension and other postretirement benefits of $0.30 a share, which are reconciled under the rate plans, lower regulatory assessments and fees that are collected in revenues from customers of $0.14 a share, lower stock-based compensation of $0.04 a share and lower healthcare costs of $0.03 a share, offset in part by incremental costs associated with COVID-19 of $(0.08) a share.
Depreciation, property taxes and other tax matters	(0.40)		(130)	Reflects higher depreciation and amortization expense of $(0.26) a share and higher property taxes of $(0.15) a share, both of which are recoverable under the rate plans, offset in part by the Employee Retention Tax Credit under the CARES Act of $0.01 a share.
Other	(0.13)		(26)	Primarily reflects foregone revenues from the suspension of customers' late payment charges and certain other fees associated with COVID-19 of $(0.05) a share and the dilutive effect of Con Edison's stock issuances of $(0.05) a share.
Total CECONY	(0.06)		(6)
O&R (a)
Changes in rate plans	0.03		9	Reflects electric and gas base rate increases of $0.02 a share and $0.01 a share, respectively, under the company's rate plans.
Operations and maintenance expenses	(0.02)		(6)	Primarily reflects incremental costs associated with COVID-19.
Depreciation, property taxes and other tax matters	(0.01)		(2)	Reflects higher depreciation and amortization expense, offset in part by the Employee Retention Tax Credit under the CARES Act.
Other	(0.02)		(6)	Primarily reflects higher costs associated with components of pension and other postretirement benefits other than service cost of $(0.01) a share.
Total O&R	(0.02)		(5)
Clean Energy Businesses
Operating revenues less energy costs	0.01		2	Reflects higher revenues from renewable electric production projects of $0.05 a share, offset in part by lower energy services revenues of $(0.04) a share.
Operations and maintenance expenses	0.02		6	Primarily reflects lower energy services costs.
Net interest expense	(0.11)		(38)	Primarily reflects higher unrealized losses on interest rate swaps in the 2020 period.
HLBV effects	0.04		15	Primarily reflects lower losses from tax equity projects.
Other	0.02		8	Primarily reflects re-measurement of deferred tax assets and the Employee Retention Tax Credit under the CARES Act.
Total Clean Energy Businesses	(0.02)		(7)
Con Edison Transmission	—		3	Primarily reflects lower operations and maintenance expenses and higher AFUDC income from Mountain Valley Pipeline, LLC.
Other, including parent company expenses	0.02		4	Reflects certain NYS combined income tax benefits.
Total Reported (GAAP basis)	$(0.08)		$(11)
HLBV effects of the Clean Energy Businesses	(0.04)		(15)
Net mark-to-market effects of the Clean Energy Businesses	0.11		41	Primarily reflects unrealized losses on interest rate swaps.
Total Adjusted (non-GAAP basis)	$(0.01)		$15
a.

Under the revenue decoupling mechanisms in the Utilities' New York electric and gas rate plans and the weather-normalization clause applicable to their gas businesses, revenues are generally not affected by changes in delivery volumes from levels assumed when rates were approved. In general, the Utilities recover on a current basis the fuel, gas purchased for resale and purchased power costs they incur in supplying energy to their full-service customers. Accordingly, such costs do not generally affect Con Edison's results of operations.
 
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SOURCE Consolidated Edison, Inc.

Article Date
8/6/2020
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7/28/2020 - Con Edison To Report 2nd Quarter 2020 Earnings On August 6
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Con Edison To Report 2nd Quarter 2020 Earnings On August 6
Source: PR Newswire
NEW YORK, July 28, 2020 /PRNewswire/ -- Consolidated Edison, Inc. (Con Edison) (NYSE: ED) plans to report its 2nd Quarter 2020 earnings on August 6, 2020 after the market closes.
Consolidated Edison, Inc. is one of the nation's largest investor-owned energy-delivery companies, with approximately $13 billion in annual revenues and $59 billion in assets. The company provides a wide range of energy-related products and services to its customers through the following subsidiaries: Consolidated Edison Company of New York, Inc., a regulated utility providing electric, gas and steam service in New York City and Westchester County, New York; Orange and Rockland Utilities, Inc., a regulated utility serving customers in a 1,300-square-mile-area in southeastern New York State and northern New Jersey; Con Edison Clean Energy Businesses, Inc., which through its subsidiaries develops, owns and operates renewable and energy infrastructure projects and provides energy-related products and services to wholesale and retail customers; and Con Edison Transmission, Inc., which through its subsidiaries invests in electric and natural gas transmission projects.
View original content:http://www.prnewswire.com/news-releases/con-edison-to-report-2nd-quarter-2020-earnings-on-august-6-301101652.html
SOURCE Consolidated Edison, Inc.

Article Date
7/28/2020
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7/16/2020 - Con Edison Declares Common Stock Dividend
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Con Edison Declares Common Stock Dividend
Source: PR Newswire
NEW YORK, July 16, 2020 /PRNewswire/ -- Consolidated Edison, Inc. (Con Edison) (NYSE: ED) declared a quarterly dividend of 76.5 cents a share on its common stock, payable September 15, 2020 to stockholders of record as of August 19, 2020.
Consolidated Edison, Inc. is one of the nation's largest investor-owned energy-delivery companies, with approximately $13 billion in annual revenues and $59 billion in assets. The company provides a wide range of energy-related products and services to its customers through the following subsidiaries: Consolidated Edison Company of New York, Inc., a regulated utility providing electric, gas and steam service in New York City and Westchester County, New York; Orange and Rockland Utilities, Inc., a regulated utility serving customers in a 1,300-square-mile-area in southeastern New York State and northern New Jersey; Con Edison Clean Energy Businesses, Inc., which through its subsidiaries develops, owns and operates renewable and energy infrastructure projects and provides energy-related products and services to wholesale and retail customers; and Con Edison Transmission, Inc., which through its subsidiaries invests in electric and natural gas transmission projects.
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SOURCE Consolidated Edison, Inc.

Article Date
7/16/2020
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1/7/2020 - Starwood Energy And Energy Management Inc. Close On Sale Of Lakehurst Solar To Con Edison Development
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Starwood Energy And Energy Management Inc. Close On Sale Of Lakehurst Solar To Con Edison Development
Source: PR Newswire
GREENWICH, Conn., Jan. 7, 2020 /PRNewswire/ -- An investment affiliate of Starwood Energy Group Global, LLC ("Starwood") and Energy Management, Inc. ("EMI"), announced today that it closed on the sale of Lakehurst Solar ("Lakehurst") to Consolidated Edison Development, Inc. ("Con Edison Development"), a subsidiary of Consolidated Edison, Inc. (NYSE: ED). 
Lakehurst is an approximately 14.4 MW_DC solar project currently under construction at Joint Base McGuire-Dix-Lakehurst ("JB MDL"), a mission-critical, tri-service military base in central New Jersey.  The solar project was developed by an affiliate of Starwood, of Greenwich, CT, and an affiliate of EMI, of Boston, MA.  The project was developed pursuant to the Air Force's Enhanced Use Lease program, an effort by the military to partner with private developers to achieve real asset optimization and long-term energy security.
About Starwood Energy Group
Starwood Energy Group is a private investment firm based in Greenwich, CT that specializes in energy infrastructure investments. Through its general opportunity funds and other affiliated investment vehicles, Starwood Energy Group has raised equity commitments in excess of $3 billion and has executed transactions totaling more than $7 billion in enterprise value. The Starwood Energy Group team brings extensive development, construction, operations, acquisition and financing expertise to its investments, with a focus on the natural gas and renewable power generation, and transmission sectors. Starwood Energy Group is an affiliate of Starwood Capital Group Global, L.P. Additional information about Starwood Energy Group as well as Starwood Capital Group can be found at www.starwoodenergygroup.com
About Energy Management, Inc.
Energy Management, Inc. ("EMI") is an independent power development company based in Boston, MA. EMI has a more than 40-year track record of developing, financing, constructing and operating independent power generation facilities including combined-cycle natural gas, solar photovoltaic, and biomass power projects throughout the United States. EMI is also a leading developer of battery storage projects, including developing and operating the first front-of-the-meter battery storage project in New England to participate in all of the ISO-NE energy, capacity, and ancillary services markets. Additional information about EMI can be found at www.emienergy.com.
Media Contacts
Tom Johnson/Dan Scorpio
Abernathy McGregor
(212) 371-5999
TBJ@abmac.com / DPS@abmac.com
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SOURCE Starwood Energy Group Global, LLC

Article Date
1/7/2020
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12/13/2018 - Sempra Energy Completes Sale Of U.S. Solar Assets To Consolidated Edison
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Sempra Energy Completes Sale Of U.S. Solar Assets To Consolidated Edison
Source: PR Newswire
SAN DIEGO, Dec. 13, 2018 /PRNewswire/ -- Sempra Energy (NYSE: SRE) today announced that it has completed the sale of its U.S. operating solar assets, solar and battery storage development projects, as well as its ownership interest in one wind facility, to Consolidated Edison, Inc. (Con Edison) (NYSE: ED) for approximately $1.6 billion in cash, subject to customary post-closing adjustments.
"With the completion of this sale, we continue to build momentum toward becoming North America's premier energy infrastructure company, while expanding our opportunities to build and acquire other energy infrastructure," said Joseph A. Householder, president and chief operating officer of Sempra Energy. "We've had a long-standing relationship working with Con Edison and want to commend their leadership team for their efforts to expeditiously complete this transaction." 
Sempra Energy expects to use the sale proceeds to significantly expand its regulated Texas utility platform through Oncor Electric Delivery Company LLC's pending acquisition of InfraREIT, Inc. and to pay down debt.
The transaction included: Mesquite Solar 2 and 3 in Arizona; Copper Mountain Solar 1 and 4 in Nevada; Great Valley Solar in California; and solar and battery storage development projects. Additionally, Con Edison also acquired Sempra Energy's interest in the jointly owned facilities including: Mesquite Solar 1; Copper Mountain Solar 2 and 3; the Alpaugh, Corcoran and White River solar facilities in California; and the Broken Bow II wind facility in Nebraska. The sale represents approximately 980 megawatts AC of installed capacity.
This transaction is part of a multi-phase, portfolio-optimization initiative announced by Sempra Energy on June 28 following a year-long comprehensive strategic review by Sempra Energy's executive team and board of directors. This initiative is designed to sharpen the company's strategic focus and create value for all shareholders.
An active sales process continues for Sempra Energy's U.S. wind and certain non-utility U.S. midstream natural gas assets.
Con Edison is one of the nation's largest investor-owned energy-delivery companies, with approximately $12 billion in annual revenues and $49 billion in assets.
Sempra Energy, a San Diego-based energy services holding company with 2017 revenues of more than $11 billion, is the utility holding company with the largest U.S. customer base. The Sempra Energy companies' approximately 20,000 employees serve more than 40 million consumers worldwide.
This press release contains statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by words such as "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "contemplates," "assumes," "depends," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "target," "pursue," "outlook," "maintain," or similar expressions or when we discuss our guidance, strategy, plans, goals, vision, opportunities, projections, initiatives, objectives or intentions. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Future results may differ materially from those expressed in the forward-looking statements.
Factors, among others, that could cause our actual results and future actions to differ materially from those described in any forward-looking statements include risks and uncertainties relating to: actions and the timing of actions, including decisions, new regulations, and issuances of permits and other authorizations by the California Public Utilities Commission, U.S. Department of Energy, California Department of Conservation's Division of Oil, Gas, and Geothermal Resources, Federal Energy Regulatory Commission, U.S. Environmental Protection Agency, Pipeline and Hazardous Materials Safety Administration, Los Angeles County Department of Public Health, Public Utility Commission of Texas, states, cities and counties, and other regulatory and governmental bodies in the U.S. and other countries in which we operate; the timing and success of business development efforts, major acquisitions such as our interest in Oncor, and construction projects, including risks in (i) timely obtaining or maintaining permits and other authorizations, (ii) completing construction projects on schedule and on budget, (iii) obtaining the consent and participation of partners and counterparties and their ability to fulfill contractual commitments, and (iv) not realizing anticipated benefits; the resolution of civil and criminal litigation and regulatory investigations; deviations from regulatory precedent or practice that result in a reallocation of benefits or burdens among shareholders and ratepayers; denial of approvals of proposed settlements; and delays in, or disallowance or denial of, regulatory agency authorizations to recover costs in rates from customers or regulatory agency approval for projects required to enhance safety and reliability; and moves to reduce or eliminate reliance on natural gas; the greater degree and prevalence of wildfires in California in recent years and risk that we may be found liable for damages regardless of fault, such as where inverse condemnation applies, and risk that we may not be able to recover any such costs in rates from customers in California; the availability of electric power and natural gas and natural gas storage capacity, including disruptions caused by failures in the transmission grid, limitations on the withdrawal or injection of natural gas from or into storage facilities, and equipment failures; risks posed by actions of third parties who control the operations of our investments; weather conditions, natural disasters, accidents, equipment failures, computer system outages, explosions, terrorist attacks and other events that disrupt our operations, damage our facilities and systems, cause the release of harmful materials, cause wildfires and subject us to third-party liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance (including costs in excess of applicable policy limits), may be disputed by insurers or may otherwise not be recoverable through regulatory mechanisms or may impact our ability to obtain satisfactory levels of affordable insurance; cybersecurity threats to the energy grid, storage and pipeline infrastructure, the information and systems used to operate our businesses and the confidentiality of our proprietary information and the personal information of our customers and employees; our ability to successfully execute our plan to divest certain non-utility assets within the anticipated timeframe, if at all, or that such plan may not yield the anticipated benefits; actions of activist shareholders, which could impact the market price of our equity and debt securities and disrupt our operations as a result of, among other things, requiring significant time and attention by management and our board of directors; changes in capital markets, energy markets and economic conditions, including the availability of credit and the liquidity of our investments; and volatility in inflation, interest and currency exchange rates and commodity prices and our ability to effectively hedge the risk of such volatility; the impact of recent federal tax reform and uncertainty as to how it may be applied, and our ability to mitigate adverse impacts; actions by credit rating agencies to downgrade our credit ratings or those of our subsidiaries or to place those ratings on negative outlook and our ability to borrow at favorable interest rates; changes in foreign and domestic trade policies and laws, including border tariffs, and revisions to or replacement of international trade agreements, such as the North American Free Trade Agreement, that may increase our costs or impair our ability to resolve trade disputes; the ability to win competitively bid infrastructure projects against a number of strong and aggressive competitors; expropriation of assets by foreign governments and title and other property disputes; the impact on reliability of San Diego Gas & Electric's (SDG&E) electric transmission and distribution system due to increased amount and variability of power supply from renewable energy sources; the impact on competitive customer rates due to the growth in distributed and local power generation and from possible departing retail load resulting from customers transferring to Direct Access and Community Choice Aggregation or other forms of distributed and local power generation and the potential risk of nonrecovery for stranded assets and contractual obligations; Oncor Electric Delivery Company LLC's (Oncor) ability to eliminate or reduce its quarterly dividends due to regulatory capital requirements and commitments, or the determination by Oncor's independent directors or a minority member director to retain such amounts to meet future requirements; and other uncertainties, some of which may be difficult to predict and are beyond our control.
These risks and uncertainties are further discussed in the reports that Sempra Energy has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov. Investors should not rely unduly on any forward-looking statements. These forward-looking statements speak only as of the date hereof, and the company undertakes no obligation to update or revise these forecasts or projections or other forward-looking statements, whether as a result of new information, future events or otherwise.
Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG & Midstream, Sempra Renewables, Sempra Mexico, Sempra Texas Utility, Oncor Electric Delivery Company LLC (Oncor) and Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) are not the same companies as the California utilities, San Diego Gas & Electric Company (SDG&E) or Southern California Gas Company (SoCalGas), and Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG & Midstream, Sempra Renewables, Sempra Mexico, Sempra Texas Utility, Oncor and IEnova are not regulated by the California Public Utilities Commission.
Media Contact:	Paty Ortega Mitchell
	Sempra Energy
	877-855-7887
	press@sempraglobal.com
Financial Contact:	Patrick Billings
	Sempra Energy
	877-736-7727
	investor@sempra.com
 
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SOURCE Sempra Energy

Article Date
12/13/2018
Close
9/20/2018 - Sempra Energy To Sell U.S. Solar Assets To Consolidated Edison
X
Sempra Energy To Sell U.S. Solar Assets To Consolidated Edison
Source: PR Newswire
SAN DIEGO, Sept. 20, 2018 /PRNewswire/ -- Sempra Energy (NYSE: SRE) today announced that it has entered into an agreement to sell its U.S. non-utility operating solar assets, solar and battery storage development projects and one wind facility to Consolidated Edison, Inc. (NYSE: ED) for $1.54 billion in cash, subject to adjustments for working capital and pre-closing cash contributions. 
"This sale represents an important step forward in the portfolio-optimization plan we announced in June to support market growth opportunities," said Joseph A. Householder, president and chief operating officer of Sempra Energy. "We plan to work closely with Consolidated Edison to ensure a smooth transition."
On June 28, Sempra Energy announced a multi-phase, portfolio-optimization initiative designed to sharpen the company's strategic focus and create value for all shareholders. The portfolio-optimization announcement followed a year-long, comprehensive strategic review by Sempra Energy's executive team and board of directors. In addition to the assets included in this sale, Sempra Energy intends to sell the rest of its non-utility U.S. wind and certain U.S. midstream natural gas assets.
The assets included in the sale to Consolidated Edison are: Mesquite Solar 2 and 3 in Arizona; Copper Mountain Solar 1 and 4 in Nevada; Great Valley Solar in California; and solar and battery storage development projects. Additionally, Consolidated Edison will acquire the facilities jointly owned with Sempra Renewables including: Mesquite Solar 1; Copper Mountain Solar 2 and 3; the Alpaugh, Corcoran and White River solar facilities in California; and the Broken Bow II wind facility in Nebraska.
The sale comprises approximately 980 megawatts AC of installed capacity in Sempra Energy's non-utility renewables portfolio. The sale is expected to be completed near the end of 2018.
The sale is subject to customary closing conditions and consents, including approvals of the Federal Energy Regulatory Commission and the U.S. Department of Energy, and expiration or early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.
Credit Suisse, J.P. Morgan and Lazard are serving as financial advisors on the sale and Latham & Watkins LLP is serving as legal advisor.
Consolidated Edison is one of the nation's largest investor-owned energy-delivery companies, with approximately $12 billion in annual revenues and $49 billion in assets.
Sempra Energy, a San Diego-based energy services holding company with 2017 revenues of more than $11 billion, is the utility holding company with the largest U.S. customer base. The Sempra Energy companies' approximately 20,000 employees serve more than 40 million consumers worldwide.
This press release contains statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by words such as "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "contemplates," "assumes," "depends," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "target," "pursue," "outlook," "maintain," or similar expressions or discussions of guidance, strategies, plans, goals, opportunities, projections, initiatives, objectives or intentions. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Future results may differ materially from those expressed in the forward-looking statements.
Factors, among others, that could cause our actual results and future actions to differ materially from those described in any forward-looking statements include risks and uncertainties relating to: actions and the timing of actions, including decisions, new regulations, and issuances of permits and other authorizations by the California Public Utilities Commission, U.S. Department of Energy, California Department of Conservation's Division of Oil, Gas, and Geothermal Resources, Federal Energy Regulatory Commission, U.S. Environmental Protection Agency, Pipeline and Hazardous Materials Safety Administration, Los Angeles County Department of Public Health, Public Utility Commission of Texas, states, cities and counties, and other regulatory and governmental bodies in the U.S. and other countries in which we operate; the timing and success of business development efforts and construction projects, including risks in timely obtaining or maintaining permits and other authorizations, risks in completing construction projects on schedule and on budget, and risks in obtaining the consent and participation of partners and counterparties; the resolution of civil and criminal litigation and regulatory investigations; deviations from regulatory precedent or practice that result in a reallocation of benefits or burdens among shareholders and ratepayers; denial of approvals of proposed settlements or modifications of settlements; and delays in, or disallowance or denial of, regulatory agency authorizations to recover costs in rates from customers or regulatory agency approval for projects required to enhance safety and reliability, any of which may raise our cost of capital and materially impair our ability to finance our operations; the greater degree and prevalence of wildfires in California in recent years and risk that we may be found liable for damages regardless of fault, such as in cases where the inverse condemnation doctrine applies, and risk that we may not be able to recover any such costs in rates from customers in California; the availability of electric power, natural gas and liquefied natural gas, and natural gas pipeline and storage capacity, including disruptions caused by failures in the transmission grid, moratoriums or limitations on the withdrawal or injection of natural gas from or into storage facilities, and equipment failures; changes in energy markets, volatility in commodity prices and moves to reduce or eliminate reliance on natural gas; risks posed by actions of third parties who control the operations of our investments, and risks that our partners or counterparties will be unable or unwilling to fulfill their contractual commitments; weather conditions, natural disasters, accidents, equipment failures, computer system outages, explosions, terrorist attacks and other events that disrupt our operations, damage our facilities and systems, cause the release of greenhouse gases, radioactive materials and harmful emissions, cause wildfires and subject us to third-party liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance (including costs in excess of applicable policy limits), may be disputed by insurers or may otherwise not be recoverable through regulatory mechanisms or may impact our ability to obtain satisfactory levels of insurance, to the extent that such insurance is available or not prohibitively expensive; cybersecurity threats to the energy grid, storage and pipeline infrastructure, the information and systems used to operate our businesses and the confidentiality of our proprietary information and the personal information of our customers and employees; our ability to successfully execute our plan to divest certain non-utility assets within the anticipated timeframe, if at all, or that such plan may not yield the anticipated benefits; actions of activist shareholders, which could impact the market price of our common stock, preferred stock and other securities and disrupt our operations as a result of, among other things, requiring significant time and attention by management and our board of directors; capital markets and economic conditions, including the availability of credit and the liquidity of our investments; fluctuations in inflation, interest and currency exchange rates and our ability to effectively hedge the risk of such fluctuations; the impact of recent federal tax reform and uncertainty as to how it may be applied, and our ability to mitigate adverse impacts; actions by credit rating agencies to downgrade our credit ratings or those of our subsidiaries or to place those ratings on negative outlook and our ability to borrow at favorable interest rates; changes in foreign and domestic trade policies and laws, including border tariffs, and revisions to international trade agreements, such as the North American Free Trade Agreement, that make us less competitive or impair our ability to resolve trade disputes; the ability to win competitively bid infrastructure projects against a number of strong and aggressive competitors; expropriation of assets by foreign governments and title and other property disputes; the impact on reliability of San Diego Gas & Electric Company's (SDG&E) electric transmission and distribution system due to increased amount and variability of power supply from renewable energy sources; the impact on competitive customer rates due to the growth in distributed and local power generation and the corresponding decrease in demand for power delivered through SDG&E's electric transmission and distribution system and from possible departing retail load resulting from customers transferring to Direct Access and Community Choice Aggregation or other forms of distributed and local power generation, and the potential risk of nonrecovery for stranded assets and contractual obligations; the ability to realize the anticipated benefits from our investment in Oncor Electric Delivery Holdings Company LLC (Oncor Holdings); Oncor Electric Delivery Company LLC's (Oncor) ability to eliminate or reduce its quarterly dividends due to regulatory capital requirements, certain reductions in its senior secured credit rating, or the determination by Oncor's independent directors or a minority member director to retain such amounts to meet future requirements; and other uncertainties, some of which may be difficult to predict and are beyond our control.
These risks and uncertainties are further discussed in the reports that Sempra Energy has filed with the U.S. Securities and Exchange Commission. These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and on Sempra Energy's website at www.sempra.com. Investors should not rely unduly on any forward-looking statements. These forward-looking statements speak only as of the date hereof and Sempra Energy or its subsidiaries undertake no obligation to update or revise these forecasts or projections or other forward-looking statements, whether as a result of new information, future events or otherwise.
Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG & Midstream, Sempra Renewables, Sempra Mexico, Sempra Texas Utility, Oncor Electric Delivery Company LLC (Oncor) and Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) are not the same companies as the California utilities, San Diego Gas & Electric Company (SDG&E) or Southern California Gas Company (SoCalGas), and Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG & Midstream, Sempra Renewables, Sempra Mexico, Sempra Texas Utility, Oncor and IEnova are not regulated by the California Public Utilities Commission.
[SRE-F]
 
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SOURCE Sempra Energy

Article Date
9/20/2018
Close
4/16/2018 - GridBright Helps Con Edison Reduce Subway Delays Caused by Power Outages
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GridBright Helps Con Edison Reduce Subway Delays Caused by Power Outages
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
ALAMO, Calif., April 16, 2018 /PRNewswire/ -- Con Edison, a regulated operating company of Consolidated Edison, Inc. (NYSE: ED), with support of GridBright, has gone live with STORM (Support Tool for Outage Restoration Management), an innovative new software solution that will help New York's Metropolitan Transportation Authority (MTA) reduce delays and improve quality of life to New York's 5.7 million daily subway riders.
STORM is a proactive software solution that analyzes data from smart meters to detect and address problems in the electric grid before they become outages; in addition it will also detect when power has actually failed. GridBright, a systems integrator specializing in outage management, led the system integration team to enhance STORM to use data from more than 2,000 smart meter locations on the New York City subway system.
Thomas Langlois, project manager at Con Edison stated, "The STORM tool has already proved itself by proactively identifying subway supply issues before they caused service interruptions. GridBright's assistance in developing this tool on time and on budget is helping Con Edison deliver value to our customers and all users of the subway."
As part of this effort, Con Edison developed a mechanism to provide the MTA unparalleled visibility into their own electric service status. Con Edison also created new communications protocols to ensure that Con Edison operators and subway system operators have consistent real-time information regarding the power supply to the subway.
The STORM tool is the first phase of the multi-year OMS (Outage Management System) integration project that started with a contract award to GridBright in June 2017. The GridBright team is part of the ongoing multi-year deployment of smart meters under Con Edison's Advanced Metering Infrastructure (AMI) project. The next phase of the GridBright efforts is integration between OMS and AMI that will provide additional critical benefits from AMI project.
Kevin Wasserman, Senior Specialist at Con Edison will be presenting a detailed case study of the STORM deployment at the EUCI Advanced Distribution Management Systems (ADMS) and Distributed Energy Resources Management Systems (DERMS) conference in Houston on May 1-2, 2018. https://www.euci.com/event_post/0518-adms-derms/
About Consolidated Edison, Inc.
Consolidated Edison, Inc. (NYSE: ED) is one of the nation's largest investor-owned energy companies, with approximately $12 billion in annual revenues and $49 billion in assets.  The company provides a wide range of energy-related products and services to its customers through its two regulated utility subsidiaries, Consolidated Edison Company of New York, Inc., and Orange and Rockland Utilities, Inc., and its two non-utility subsidiaries, Con Edison Clean Energy Businesses, Inc. and Con Edison Transmission, Inc.
About GridBright, Inc. 
GridBright is the grid management specialists of the utility industry.  GridBright helps the electric industry improve grid operations through smarter solutions for managing resiliency, distributed resources, and renewables. To learn more, visit GridBright.com.
 
View original content with multimedia:http://www.prnewswire.com/news-releases/gridbright-helps-con-edison-reduce-subway-delays-caused-by-power-outages-300629738.html
SOURCE GridBright, Inc.

Article Date
4/16/2018
Close
1/12/2017 - Aclara Acquires Smart Grid Solutions Division Of Apex CoVantage
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Aclara Acquires Smart Grid Solutions Division Of Apex CoVantage
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
ST. LOUIS, Jan. 12, 2017 /PRNewswire/ -- Aclara Technologies LLC ("Aclara"), a leading supplier of smart infrastructure solutions (SIS) to electric, gas and water utilities, has acquired the Smart Grid Solutions (SGS) division of Apex CoVantage, LLC.  The transaction includes the award-winning ProField^® mobile workforce management technology used for smart grid deployments as well as the Smart Grid Professional Services business comprising utility field services and consulting. Financial terms are not being disclosed.
With this acquisition, Aclara now offers a comprehensive end-to-end solution including installation services and provision of field labor. This new capability enables Aclara to provide full turnkey solutions to utilities that increase their productivity and reduce operating costs. Aclara's comprehensive suite of solutions comprised of meters and edge devices, advanced metering infrastructure (AMI), headend and consumer engagement software, installation services and provision of labor offers a single point of accountability to utilities.
"The addition of SGS's highly regarded ProField technology and professional services business adds another game-changing dimension to our capabilities and clearly demonstrates Aclara's focus on being the world's leading end-to-end full-service provider of smart infrastructure solutions," said Allan Connolly, Chief Executive Officer and President of Aclara.
Aclara will integrate both ProField and Smart Grid Professional Services into its portfolio of leading-edge solutions for electric, gas and water utilities under the brand name Aclara SGS. Utilities that have selected the ProField technology include Consolidated Edison, Inc., Arizona Public Service (APS), and Habersham Electric Membership Corporation (Habersham EMC).
The contract with Consolidated Edison Company of NY, Inc. (CECONY) and Orange and Rockland (O&R) Utilities, Inc., both regulated operating companies of Consolidated Edison, Inc., (NYSE: ED) includes the installation of electric smart meters and gas smart modules as part of a landmark plan to deploy Advanced Metering Infrastructure (AMI) across Consolidated Edison's and Orange & Rockland's service territories. It also includes building the supporting communications network in Orange & Rockland's service territory. Approximately 3.9 million electric meters and 1.3 million gas meters are involved.
The SGS acquisition represents another key development for Aclara as the company continues to grow both the breadth of its solutions and its geographic reach. It follows the August 2016 purchase of the smart grid business from Tollgrade Communications, Inc., which included the award-winning grid monitoring platform comprising smart grid sensors and Predictive Grid^® Analytics software. In December 2015, Aclara purchased the electric meters business operating within GE Energy Management's Grid Solutions subdivision, an acquisition that strengthened the company's offering for electric utilities and increased its international profile.
About Aclara
Aclara Technologies LLC is a world-class supplier of smart infrastructure solutions (SIS) to more than 780 water, gas, and electric utilities globally. Aclara SIS offerings include smart meters and other field devices, advanced metering infrastructure and software and services that enable utilities to predict and respond to conditions, leverage their distribution networks effectively and engage with their customers. In 2016 Aclara won a Frost & Sullivan Global Smart Energy Networks Enabling Technology Leadership Award and was named a finalist in three categories of the Platts Global Energy Awards. Aclara is owned by an affiliate of Sun Capital Partners. Visit us at Aclara.com and follow us on Twitter @AclaraSolutions.
 
SOURCE Aclara

Article Date
1/12/2017
Close
10/26/2016 - Smart Grid Solutions Chosen by Consolidated Edison, Inc. for Groundbreaking Advanced Metering Infrastructure Project Using ProFieldMETER(TM) Technology
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Smart Grid Solutions Chosen by Consolidated Edison, Inc. for Groundbreaking Advanced Metering Infrastructure Project Using ProFieldMETER(TM) Technology
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
HERNDON, Va., Oct. 26, 2016 /PRNewswire/ -- Smart Grid Solutions (SGS) has been awarded a contract by Consolidated Edison Company of NY, Inc. and Orange & Rockland (O&R) Utilities, Inc., both regulated operating companies of Consolidated Edison, Inc. (NYSE: ED), to install electric smart meters and gas smart modules.
The contract also includes building the supporting communications network for territory-wide coverage using SGS's industry-leading ProFieldMETER technology.
The contract is part of a landmark plan to deploy Advanced Metering Infrastructure (AMI) across Consolidated Edison Inc.'s service territory, which covers New York City and Westchester County, and Orange & Rockland's service territory, which includes those two New York counties, as well as adjacent parts of northern New Jersey. Approximately 3.9 million electric meters and 1.3 million gas meters are involved.
"Being selected for the largest, most comprehensive smart grid project awarded since SGS introduced its innovative ProField technology cements its premier position in the smart grid industry," says Shashi Gupta, Chief Executive Officer of SGS. 
"We felt that the technology being offered by SGS would integrate seamlessly into our existing processes and help ensure that safety and productivity remain a priority for Consolidated Edison," says Tom Magee, General Manager of the AMI Implementation team.
About Smart Grid Solutions
Smart Grid Solutions is the developer of ProField®, the award-winning mobile workforce management technology used for smart grid deployments. Smart Grid Solutions licenses ProField around the world and also utilizes the technology for its own meter replacement and network equipment installation services for electric, water, and gas utilities. Smart Grid Solutions is owned by an affiliate of Sun Capital Partners.
About Consolidated Edison, Inc.
Consolidated Edison, Inc. is one of the nation's largest investor-owned energy companies, with approximately $13 billion in annual revenues and $47 billion in assets. The company provides a wide range of energy-related products and services to its customers through the following subsidiaries: Consolidated Edison Company of New York, Inc., a regulated utility providing electric, gas, and steam service in New York City and Westchester County, New York; Orange & Rockland Utilities, Inc. a regulated utility serving customers in a 1,350-square-mile area in southeastern New York state and adjacent sections of northern New Jersey and northeastern Pennsylvania; Consolidated Edison Solutions, Inc., a retail energy-services company; Consolidated Edison Energy, Inc., a wholesale energy-services company; Consolidated Edison Development, Inc., a company that develops, owns, and operates renewable energy infrastructure projects, and Consolidated Edison Transmission, Inc., which invests in electric and natural gas transmission projects.
Contact: Stephanie Eade                                 
703-709-3465              
seade@smartgridsolutions.us
 
SOURCE Smart Grid Solutions

Article Date
10/26/2016
Close
6/13/2016 - Con Edison "Virtual Power Plant" Program Combines Solar and Storage to Improve Grid Resiliency
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Con Edison "Virtual Power Plant" Program Combines Solar and Storage to Improve Grid Resiliency
Source: PR Newswire
NEW YORK, June 13, 2016 /PRNewswire/ -- Beginning this summer, Con Edison (NYSE: ED) and SunPower Corp. (Nasdaq: SPWR) will partner on a pilot program to offer solar power systems with battery storage to more than 300 New York homeowners. The aggregation of hundreds of homes with solar power and battery storage will provide the utility with a cost-effective and innovative "virtual power plant," providing participating homeowners with a backup system in case of an outage while also supplementing the traditional energy delivery model to improve grid resiliency, reliability and sustainability.
With the integration of over 1.8 megawatts of solar power and about 1.8 megawatts, or 4 megawatt hours, of battery storage, this partnership will represent the largest residential distributed energy storage program in the U.S. It results from New York's Reforming the Energy Vision (REV) initiative, designed to harness and integrate renewables into the state's power grid.
Under the program, qualified participants will have leased high-efficiency SunPower® solar systems installed on their homes to help reduce the homeowners' monthly electricity costs. For an additional low monthly payment, participants also will have Sunverge Energy battery systems, owned by Con Edison, installed and connected to their SunPower systems. In the event of an outage, solar power stored in a participant's battery storage system will be available to power certain essential load appliances in the home.
Using the storage system's intelligence, Con Edison will be able to link the hundreds of solar-plus-storage systems together into a "virtual power plant" that can act as a local generation resource to supply power to the grid during peak usage periods. Supervisory control and data acquisition (SCADA) integration will provide remote monitoring and control, allowing Con Edison to forecast and optimize the performance and reduce the need for the utility to rely on traditional non-renewable power sources to meet peak demand.
"The integrated solar and storage approach enhances value to the grid by providing a dispatchable renewable power source that Con Edison can control and rely on in real time," said Matthew Ketschke, Con Edison's vice president of Distributed Resource Integration. "We are excited to offer customers high performance SunPower systems for no upfront cost, and a cheaper, greener, simpler alternative to a traditional backup generator."
"This ambitious program with Con Edison represents a significant milestone in U.S. energy delivery, demonstrating that combining solar and energy storage can result in a stronger, more resilient grid while providing end customers the opportunity to save on electricity bills," said Howard Wenger, SunPower president, business units.  "Increasingly, SunPower is working with forward-thinking utilities to integrate advanced energy solutions and enable the transition to a more sustainably powered world."
"Solar plus storage facilitates innovative new approaches for utilities to serve customers, including alternative tariff structures and virtual power plants, and Con Edison is at the forefront of that innovation," said Sunverge Co-Founder and CEO Ken Munson. "We're proud to partner with Con Edison and SunPower on this very significant project, providing intelligent storage to help ensure the delivery of reliable renewable power to New York residents even during power outages." 
Con Edison residential homeowner customers who are interested in participating in the program can find more information here: http://solar.sunpower.com/asp-nystorage
About Con Edison
Con Edison is a subsidiary of Consolidated Edison, Inc. [NYSE: ED], one of the nation's largest investor-owned energy companies, with approximately $13 billion in annual revenues and $46 billion in assets. The utility provides electric, gas and steam service to more than three million customers in New York City and Westchester County, New York. For additional financial, operations and customer service information, visit us on the web at www.conEd.com, for energy efficiency rebates and incentives at www.coned.com/energyefficiency, and on Twitter and Facebook.
About SunPower
As one of the world's most innovative and sustainable energy companies, SunPower (Nasdaq: SPWR) provides a diverse group of customers with complete solar solutions and services. Residential customers, businesses, governments, schools and utilities around the globe rely on SunPower's more than 30 years of proven experience. From the first flip of the switch, SunPower delivers maximum value and superb performance throughout the long life of every solar system. Headquartered in Silicon Valley, SunPower has dedicated, customer-focused employees in Africa, Asia, Australia, Europe, and North and South America. For more information about how SunPower is changing the way our world is powered, visit www.sunpower.com.
About Sunverge
San Francisco-based Sunverge Energy allows homeowners efficient management of their own renewable energy generation and helps utilities, retailers and solar power providers manage those renewable power sources and aggregate them into Virtual Power Plants across neighborhoods, communities and entire service areas — reliably, effectively and intelligently. Founded in 2009, the company makes the Sunverge Solar Integration System (SIS), a distributed energy storage and management appliance comprised of powerful storage batteries, power electronics, and system-management software running in the cloud. The Sunverge SIS lowers costs, increases energy reliability, strengthens the grid, and accelerates the adoption and integration of distributed renewable energy. Investors include the Australian Renewable Energy Agency (ARENA), SBCVC, Siemens Venture Capital and Total Energy Ventures International. For more information, please visit www.sunverge.com.
SunPower's Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding expected product performance, projected energy output, and expected cost savings. These forward-looking statements are based on our current assumptions, expectations and beliefs and involve substantial risks and uncertainties that may cause results, performance or achievement to materially differ from those expressed or implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to regulatory changes and the availability of economic incentives promoting use of solar energy, and fluctuations or declines in the performance of our solar panels and other products and solutions. A detailed discussion of these factors and other risks that affect our business is included in filings we make with the Securities and Exchange Commission (SEC) from time to time, including our most recent reports on Form 10-K and Form 10-Q, particularly under the heading "Risk Factors." Copies of these filings are available online from the SEC or on the SEC Filings section of our Investor Relations website at investors.sunpower.com. All forward-looking statements in this press release are based on information currently available to us, and we assume no obligation to update these forward-looking statements in light of new information or future events. 
©2016 SunPower Corporation.  All Rights Reserved.  SUNPOWER and the SUNPOWER logo are registered trademarks of SunPower Corporation in the U.S. and other countries as well.
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Article Date
6/13/2016
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4/4/2016 - Con Edison and SunPower Partnership Offers Electricity Savings to Greater New York Homeowners
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Con Edison and SunPower Partnership Offers Electricity Savings to Greater New York Homeowners
Source: PR Newswire
NEW YORK and SAN JOSE, Calif., April 4, 2016 /PRNewswire/ -- Con Edison, the utility that provides electricity to 3.4 million customers in the New York City area, and SunPower, one of the world's most innovative and sustainable solar companies, today announced a collaboration to offer high-performance SunPower® solar energy systems to homeowners. Con Edison will deliver personalized energy usage details to its customers through the utility's innovative, digital Connected Homes platform starting this spring. By fall, SunPower solar will be highlighted as an effective, clean energy solution for managing consumer electricity costs in Con Edison's Home Energy Reports.
"Customer engagement is at the heart of our Connected Homes platform, which will provide customers with more energy choices and an ability to manage their consumption," said Jamie Brennan, director of Demonstration Projects for Con Edison. "Customers will get personalized information about their energy usage and an introduction to SunPower's innovative solar solutions."
Prior to designing and installing a SunPower solar power system sized to best meet each consumer's needs, SunPower will work with homeowners to cover the variety of financing options available. Homeowners may choose to own the system through a cash purchase or loan, or lease the system which requires no upfront investment for qualified customers. Owning solar power systems may allow customers to take advantage of federal and state incentives, and may also increase their property value.
"We are pleased to work with Con Edison, making solar more accessible to New York homeowners through this innovative partnership," said Howard Wenger, SunPower president, business units. "SunPower offers industry-leading solar technology that generates 70 percent more energy in the same space than conventional panels over the first 25 years, as well as superior reliability and aesthetics. Combining SunPower's 30 years of experience delivering high-performance solar solutions with Con Edison's long history of delivering electricity to New York homeowners can help further propel the state's new energy vision."
About Con Edison
Con Edison is a subsidiary of Consolidated Edison, Inc. [NYSE: ED], one of the nation's largest investor-owned energy companies, with approximately $13 billion in annual revenues and $46 billion in assets. The utility provides electric, gas and steam service to customers in New York City and Westchester County, New York. For more information, visit www.coned.com.
About SunPower
As one of the world's most innovative and sustainable energy companies, SunPower Corp. (NASDAQ: SPWR) provides a diverse group of customers with complete solar solutions and services. Residential customers, businesses, governments, schools and utilities around the globe rely on SunPower's more than 30 years of proven experience. From the first flip of the switch, SunPower delivers maximum value and superb performance throughout the long life of every solar system. Headquartered in Silicon Valley, SunPower has dedicated, customer-focused employees in Africa, Asia, Australia, Europe, North and South America. For more information about how SunPower is changing the way our world is powered, visit www.sunpower.com.
©2016 SunPower Corporation.  All Rights Reserved.  SUNPOWER and the SUNPOWER logo are registered trademarks of SunPower Corporation in the U.S. and other countries as well.
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SOURCE SunPower Corp.

Article Date
4/4/2016
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