Consolidated Edison, Inc. (ED) is an American energy company with a history dating back to 1823. Headquartered in New York City, it is one of the largest energy companies in the United States, providing electric, gas, and steam services to over 10 million customers in New York City and Westchester County.
Named after the inventor of the light bulb, Thomas Edison, Consolidated Edison can trace its roots back almost two centuries. It was formed in 1936 by the merger of several gas, electric, and transportation companies in New York. ED continuously enhanced its operations and implemented innovative strategies to maintain its leading position in the energy market.
Consolidated Edison has two primary subsidiaries: Con Edison Company of New York, Inc. (CECONY), and Orange and Rockland Utilities (O&R). CECONY provides electric services to approximately 3.5 million customers and gas service to nearly 1.1 million customers, while O&R serves several counties in southeastern New York and northern New Jersey. The company also operates Con Edison Energy, Con Edison Development, and Con Edison Solutions, providing competitive energy and sustainability services.
ED is committed to sustainable energy solutions and is a leading investor in renewable and clean energy projects. This commitment further extends to their dedication to reducing their carbon emissions. As part of its Clean Energy Commitment, ED aims to have a carbon-free electric mix by 2040.
Maintaining a strong commitment to its customers, communities, and shareholders, ED has been recognized for its operational excellence and customer service. It was recognized by PA Consulting as the recipient of the 2019 ReliabilityOne™ Award for Outstanding Midsize Utility for demonstrating exceptional power reliability.
Despite challenges, particularly from climate change and the need for infrastructure upgrades, Consolidated Edison has remained resilient. It continues to focus on modernizing its infrastructure, improving the resiliency of its systems, and aiding in New York's transition to renewable energy. The company executes its corporate responsibility through environmental stewardship, community partnerships, and investments in energy technologies that protect their customers and their investments. ED's unceasing dedication to ensuring reliable energy, resilience in storm restoration, and commitment to the environment has made it a cornerstone in the energy sector.
In financial performance, ED has consistently delivered solid dividends to its shareholders, with an impressive track record of over 40 consecutive years of annual dividend increases, positioning it as a reliable choice for long-term investors. Its financial strength, proven resilience, and focus on a sustainable future make Consolidated Edison Inc. a significant player in the energy industry.