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Company Overview
About Consolidated Edison
Consolidated Edison, Inc. is a New York City, New York-based regulated electric, gas, and steam utility holding company — publicly traded on the New York Stock Exchange (NYSE: ED) as an S&P 500 Utilities component — delivering electricity to approximately 3.6 million customers, natural gas to approximately 1.1 million customers, and steam to commercial and residential customers in Manhattan through two regulated utility subsidiaries: Consolidated Edison Company of New York (CECONY, serving New York City and Westchester County) and Orange and Rockland Utilities (serving counties in southern New York and northern New Jersey), through approximately 15,000 employees. In fiscal year 2024, Consolidated Edison reported adjusted earnings of $1,868 million ($5.40 per share), up from $1,762 million ($5.07 per share) in 2023 (+6%), demonstrating steady rate-base-driven earnings growth. GAAP net income was $1,820 million ($5.26/share) in 2024 versus $2,519 million ($7.25/share) in 2023, with the prior year's higher GAAP income reflecting the substantial gain from the $6.8 billion sale of Con Edison Clean Energy Businesses (its non-regulated renewable energy subsidiary) to RWE in 2023 — proceeds that Con Edison is deploying to reduce debt and fund its regulated infrastructure investment program. CEO Timothy Cawley leads the company's strategy of investing in Manhattan's grid infrastructure for reliability and electrification — particularly EV charging infrastructure, building electrification (replacing gas appliances with electric), and transmission upgrades for offshore wind power integration into the New York City grid.
Business Model & Competitive Advantage
Consolidated Edison's New York City utility model creates uniquely complex and capital-intensive regulated earnings through the density and age of the infrastructure serving the most densely populated urban service territory in the United States: CECONY's service area covers 660 square miles including all five boroughs of New York City (8.3 million residents) and Westchester County, where underground cable, gas mains, and the iconic steam system (the largest district steam system in the Western Hemisphere, serving 1,500 buildings in Manhattan) require continuous capital reinvestment for reliability and safety. The New York Public Service Commission's multi-year electric rate plan (approved periodically for 3-year terms) establishes CECONY's allowed return on equity (approximately 8.8%) on its rate base of $21+ billion — creating the regulatory framework for multi-billion-dollar annual capital investment in underground cable replacement, transformer upgrades, and gas main modernization that ConEd executes year after year in one of the world's most challenging construction environments (congested streets, active subway tunnels, existing utility networks at every depth).
Competitive Landscape 2025–2026
In 2025, Consolidated Edison competes in regulated New York City electric, gas, and steam utility service against New York Power Authority (NYPA, state-owned transmission utility and generation), National Grid (LSE: NG, Long Island and Brooklyn electric distribution under PSE&G, Niagara Mohawk in upstate NY), and PSEG (NYSE: PEG, New Jersey electric and gas) for regulatory approval of capital investment programs and large commercial customer retention in the competitive New York metropolitan energy market. Con Edison's Clean Energy Businesses divestiture ($6.8B to RWE, 2023) concentrated the company's capital allocation entirely on regulated utility infrastructure in New York — eliminating the non-utility risk profile and simplifying the investment thesis to regulated infrastructure earnings. The electrification capital investment program (EV charging infrastructure across the five boroughs, building electrification incentives, offshore wind grid interconnection for New York State's clean energy targets) provides the rate base growth driver for 2025 and beyond. The 2025 strategy focuses on CECONY rate case proceedings for continued infrastructure investment recovery, managed offshore wind transmission expansion, and gas system safety upgrade execution.
The Consolidated Edison Story
Founders
Recent Activity
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Major milestones in Consolidated Edison's journey
Leadership Team
Meet the leaders behind Consolidated Edison
Tim Cawley
Tim Cawley has served as Chairman, President, and Chief Executive Officer of Consolidated Edison, Inc. since December 2020. He leads the company's strategic initiatives focused on clean energy transition, grid modernization, and maintaining world-class reliability while serving over 3 million customers in New York.
Kirkland B. Andrews
Kirkland B. Andrews has been Senior Vice President and Chief Financial Officer since July 2024. He previously served as Executive Vice President and Chief Financial Officer of Evergy, Inc., bringing extensive experience in utility finance and strategic planning to Con Edison.
Matthew Ketschke
Matthew Ketschke serves as President of Consolidated Edison Company of New York, Inc., overseeing the utility operations that serve millions of customers across New York City and Westchester County.
Deneen L. Donnley
Deneen L. Donnley serves as Senior Vice President and General Counsel, providing legal leadership and oversight for the company's regulatory, compliance, and corporate governance matters.
Robert Sanchez
Robert Sanchez leads the company's Shared Services organization, ensuring efficient and effective support across all Con Edison operations.
Sylvia V. Dooley
Sylvia V. Dooley serves as Vice President and Corporate Secretary, managing corporate governance, board relations, and shareholder communications.
Joseph Miller
Joseph Miller serves as Vice President and Controller, overseeing financial reporting, accounting operations, and internal controls for the organization.
Yukari Saegusa
Yukari Saegusa serves as Vice President, Treasurer and Investor Relations, managing the company's treasury operations, capital markets activities, and investor communications.
Key Differentiators
Market Leader
Consolidated Edison is recognized as a market leader in the Energy & Utilities sector, demonstrating strong industry presence and customer trust.
Frequently Asked Questions
Estimated Visibility Trend (Beta)
Simulated 8-week rolling score
Based on estimated brand signals. Historical tracking coming soon.
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