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Consolidated Edison, Inc.
Stock Symbol: ED
4 Irving Place
New York, NY 10003
212-460-4600 (phone)
212-475-0734 (fax)
Website: CON ED
Industry: Electric Utilities
Index Membership: Dow Jones Composite; Dow Utilities; S&P 500; S&P 1500 Super Comp
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Consolidated Edison, Inc. Description:
Consolidated Edison, Inc. is one of the nation’s largest investor-owned energy companies. The company provides a wide range of energy-related products and services to its customers through its subsidiaries: Consolidated Edison Company of New York, Inc., a regulated utility providing electric, gas and steam service to New York City and Westchester County, New York; Orange and Rockland Utilities, Inc., a regulated utility serving customers in a 1,350 square mile area in southeastern New York State, as well as adjacent sections of northern New Jersey and northeastern Pennsylvania; Con Edison Solutions, a retail energy services company; Con Edison Energy, a wholesale energy supply company; Con Edison Development, an infrastructure development company; and Con Edison Communications, a telecommunications infrastructure company. The company employs approximately 14,795 people.
Consolidated Edison, Inc. Business Summary:
Con Edison of New York provides electric service to approximately 3.2 million customers and gas service to approximately 1.1 million customers in New York City and Westchester County. The company also provides steam service in parts of Manhattan. O&R provides electric service to 300,000 customers in southeastern New York and adjacent areas of northern New Jersey and eastern Pennsylvania and gas service to more than 126,000 customers in southeastern New York and adjacent areas of eastern Pennsylvania.
Con Edison's competitive energy businesses participate in segments of the electricity industry that are less comprehensively regulated than their regulated businesses. These segments include the operation of electric generation facilities, trading of electricity and fuel, sales of electricity to wholesale and retail customers, and sales of certain energy-related goods and services.
Con Edison Solutions sells electricity directly to some delivery-service customers of utilities primarily in the Northeast and Mid-Atlantic regions and also offers energy-related services.
Con Edison Development owns, leases, or operates generating plants and participates in other infrastructure projects. At December 31, 2006, the company owned or leased the equivalent of 1,668 MWs of capacity in electric generating facilities of which 203 MWs are sold under long-term purchase power agreements and the balance is sold on the wholesale electricity markets. In addition, the company sells electricity at wholesale to utilities. Con Edison is considering strategic alternatives with respect to the electric generation facilities of its competitive energy businesses.
Con Edison Energy procures electric energy and capacity for Con Edison Solutions and fuel for Con Edison Development. It sells the electric capacity and energy produced by plants owned, leased, or operated by Con Edison Development and others. The company also provides energy risk management services to Con Edison Solutions and Con Edison Development, offers these services to others, and manages wholesale supply transactions for Con Edison Development.
