# Consolidated Edison

**Source:** https://geo.sig.ai/brands/consolidated-edison  
**Vertical:** Energy & Utilities  
**Subcategory:** Enterprise  
**Tier:** Leader  
**Website:** consolidated-edison.com  
**Last Updated:** 2026-04-14

## Summary

New York City regulated utility (NYSE: ED) at $1,868M adjusted earnings (+6%); CECONY serves 3.6M electric/1.1M gas customers in NYC metro, Clean Energy Businesses sold $6.8B (2023), Manhattan grid electrification capex.

## Company Overview

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.

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).

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.

## Frequently Asked Questions

### What is Consolidated Edison (Con Edison)?
Consolidated Edison is one of the nation's largest investor-owned energy-delivery companies, providing electric, gas, and steam service to more than 3 million customers in New York City and Westchester County. The company serves an area of 660 square miles with a population of nearly 9 million people and has approximately $15 billion in annual revenues and $72 billion in assets.

### When was Con Edison founded?
Con Edison's history dates back to March 26, 1823, when it was founded as the New York Gas Light Company. The company was listed on the New York Stock Exchange in 1824, making it the longest continuously listed stock on the NYSE. The modern name 'Consolidated Edison' was adopted in 1936.

### Where is Con Edison based and what areas does it serve?
Con Edison is based in New York City and serves New York City (all five boroughs: Manhattan, Brooklyn, Queens, the Bronx, and Staten Island) and Westchester County. The company provides electric service to approximately 3.6 million customers, gas service to 1.1 million customers, and operates the world's largest commercial steam system serving nearly 1,600 establishments in Manhattan.

### What services does Con Edison provide?
Con Edison provides three core utility services: electric service to 3.6 million customers, natural gas service to 1.1 million customers through 7,200 miles of pipes, and steam service to nearly 1,600 commercial and residential establishments in Manhattan. The company also facilitates renewable energy adoption, offers energy efficiency programs, and is investing in grid modernization and clean energy infrastructure.

### How can I contact Con Edison customer service?
You can contact Con Edison customer service by calling 1-800-75-CONED (1-800-752-6633), which operates 24 hours a day, 7 days a week. Customer service walk-in centers are open Monday through Friday from 8:30 a.m. to 5 p.m. You can also contact them through the online form at coned.com or by mail at Cooper Station P.O. Box 138, New York, NY 10276-0138.

### Is Con Edison hiring and what career opportunities are available?
Yes, Con Edison employs over 15,000 people and regularly hires for positions across operations, engineering, customer service, technology, and corporate functions. The company offers comprehensive benefits, professional development programs, and recognizes employees through its annual Living Our Values Awards. Career opportunities can be found on their corporate website.

### Who leads Consolidated Edison?
Tim Cawley serves as Chairman, President, and Chief Executive Officer of Consolidated Edison, Inc., a position he has held since December 2020. Other key executives include Kirkland B. Andrews as CFO (since July 2024), Matthew Ketschke as President of Consolidated Edison Company of New York, and Deneen L. Donnley as General Counsel.

### What is Con Edison's financial performance?
For 2024, Con Edison reported revenue of $15.256 billion (a 4.04% increase from 2023), net income of $1,820 million ($5.26 per share), and adjusted earnings of $1,868 million ($5.40 per share). The company has a market capitalization of approximately $36 billion and has been continuously listed on the NYSE since 1824.

### What is Con Edison doing about clean energy and climate change?
Con Edison is investing heavily in clean energy infrastructure, with over $21 billion planned over three years for grid modernization and clean energy transition. In 2024, customers installed 100 MW of solar capacity and 44 MW of battery storage. The company offers the Clean Heat Program with up to $30,000 in incentives for geothermal systems and is building infrastructure to support building electrification and electric vehicles.

### Does Con Edison offer assistance programs for customers with financial hardship?
Yes, Con Edison's Energy Affordability Program provided $311 million in discounts in 2024 to help income-eligible customers reduce their electric and gas bills, with discounts increasing by more than 80% since 2022. The company also offers budget billing programs to spread energy costs evenly throughout the year and various payment assistance options.

### What is the latest news about Con Edison?
Recent developments include reporting strong 2024 earnings in February 2025, proposing major infrastructure investments to maintain world-class reliability, and achieving significant clean energy milestones with customers installing 100 MW of solar and 44 MW of battery storage in 2024. The company commissioned new battery energy storage systems in West Warwick (12 MW in January 2025) and Brownsville (5.8 MW in summer 2025).

### What makes Con Edison different from other utilities?
Con Edison is unique as the oldest continuously operating utility in the United States (founded 1823) and the longest continuously listed stock on the NYSE (since 1824). It operates the world's largest commercial steam system and serves one of the most densely populated and challenging urban environments. The company has over 200 years of experience and is the result of mergers of more than 170 individual energy companies.

## Tags

b2b, b2c, energy, infrastructure, public

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*Data from geo.sig.ai Brand Intelligence Database. Updated 2026-04-14.*