Municipal Gas Light Company

Consolidated Edison, Inc.
Company type	Public
Industry	Energy
Founded	1823
Headquarters	New York City, United States
Area served	Metropolitan New York region
Key people	Timothy P. Cawley (Chairman, President and CEO)
Products	Electricity, natural gas, steam
Revenue	$15.26 billion (2024)
Total assets	$70.56 billion (2024)
Website	conedison.com

Adapted from the English Wikipedia article Municipal Gas Light Company, available under CC BY-SA 4.0Updated 24 July 2025

Consolidated Edison, Inc., commonly referred to as Con Edison or ConEd, stands as a prominent investor-owned energy corporation in the United States. For 2024, it reports revenues near $15.26 billion and possesses assets valued at approximately $70.56 billion. Based in New York City, its operations are primarily conducted through subsidiaries that serve the metropolitan New York region:

Consolidated Edison Company of New York, Inc. (CECONY), a regulated utility delivering electricity and gas services throughout New York City and Westchester County, along with steam services in Manhattan;
Orange and Rockland Utilities, Inc., covering about 1,300 square miles across southeastern New York and northern New Jersey;
Con Edison Transmission, Inc., which concentrates on investments in electric and natural gas transmission infrastructure.

As of 2015, over 70% of the consolidated revenue originated from electricity sales, while gas contributed roughly 14%, steam accounted for 5%, and non-utility sources made up close to 11%. The company’s strategic direction and growth initiatives in energy delivery and infrastructure within its core markets are overseen by CEO Tim Cawley.

History

The origins of Con Edison trace back to March 1823 with the establishment of the New York Gas Light Company by investors from New York City; it was listed on the New York Stock Exchange one year later. Expansion efforts required navigating franchise rights controlled by municipal authorities connected to Tammany Hall. By 1871, influential figures such as William M. Tweed were involved with earlier entities that would eventually form Consolidated Edison. On November 10, 1884, New York Gas Light merged with five additional gas companies to create the Consolidated Gas Company of New York.

In 1901, Consolidated Gas acquired the Edison Illuminating Company, originally founded by Thomas Edison in 1880 to supply electricity to a limited area in lower Manhattan. After the "war of currents," Consolidated Gas’s electric division—renamed New York Edison Company—emerged as the dominant market player by 1920. By 1936, electricity represented approximately three-quarters of Consolidated Gas's revenue, leading to the company’s rebranding as Consolidated Edison Company of New York.

The acquisition of the New York Steam Company in 1954 allowed Con Edison to operate what is now the world’s largest commercial steam system, serving nearly 1,600 buildings within Manhattan. Between 1936 and 1960, Con Edison expanded significantly through mergers and acquisitions involving more than 170 electric, gas, and steam enterprises.

In 1954, Con Edison purchased land along the Hudson River to develop the Indian Point nuclear power facility. Indian Point Unit 1 began operations in 1962 but was shut down in 1974 due to safety issues. Subsequently, Indian Point Units 2 and 3 were constructed during the 1970s; Unit 3 was sold to the New York Power Authority in 1975. Following a steam generator leak, Entergy acquired Indian Point Unit 2 in 2000. This transaction marked Con Edison's shift toward primarily focusing on energy distribution.

The formation of Consolidated Edison, Inc. as a holding company occurred on January 1, 1998, following deregulation in New York State’s utility sector. It ranks among the largest investor-owned energy firms with annual revenues near $13 billion and assets totaling $47 billion at that time. The company functions through two regulated utility subsidiaries alongside three competitive energy businesses. Its principal subsidiary serves over three million customers across an extensive territory including New York City and Westchester County. In addition, Orange & Rockland Utilities was acquired by Con Edison in 1998.

Con Edison's commitment to renewable energy includes investing $3 billion into solar and wind projects and announcing plans for a $1.25 billion investment in renewable facilities over a three-year span beginning in 2017. The company’s renewable portfolio surpassed an operating capacity of 1.5 gigawatts, with solar energy comprising approximately 75%. Clean energy contributed around eight percent of total earnings by late 2017. In 2023, Con Edison divested its clean energy business to RWE.

Clean energy

To encourage electric vehicle adoption, Con Edison collaborated with FleetCarma to grant $500 incentives to EV drivers located in New York City and Westchester County, motivating them to charge their vehicles during periods of reduced electricity demand.

Electrical

Con Edison’s electrical transmission network functions at voltage levels of 138 kV, 345 kV, and 500 kV. It features two 345 kV connections with upstate New York, facilitating power imports from Hydro-Québec, along with one 345 kV link each to Public Service Electric and Gas (PSE&G) in New Jersey and Long Island. Additionally, a direct HVDC connection via the Champlain Hudson Power Express is planned for completion by 2025.

The company is also connected to PSE&G through the Branchburg-Ramapo 500 kV transmission line. Distribution voltages include 33 kV, 27 kV, 13 kV, and 4 kV levels.

Con Edison oversees nearly 93,000 miles of underground cables—sufficient to circle the globe approximately 3.6 times—and close to 36,000 miles of overhead wiring, a distance equivalent to traveling from New York to Los Angeles thirteen times.

Gas

Con Edison’s gas distribution network extends across roughly 7,200 miles of pipeline servicing Westchester County, the Bronx, Manhattan, and sections of Queens. Other boroughs such as Brooklyn and Staten Island receive gas service from National Grid USA. The annual volume of gas transported could fill the Empire State Building nearly 6,100 times over.

Steam

Annually, Con Edison generates 30 billion pounds of steam through seven power plants that boil water and supply it via the New York City steam system, recognized as the largest district steam network worldwide. This extensive system supports hundreds of buildings including iconic sites like the United Nations complex, the Empire State Building, and the Metropolitan Museum of Art. The infrastructure comprises roughly of mains and service pipes fed by five plants in Manhattan, one in Queens, one in Brooklyn, along with contracted steam from the Brooklyn Navy Yard facility.

Metering

Con Edison’s Smart Meter Project, largely finalized in 2022 with remaining installations continuing into 2023, involved replacing over five million electric and gas meters utilizing Aclara Smart Grid Solutions technology. Electric meters fitted by contractors are marked by lime green seals, representing a major modernization effort aimed at enhancing metering capabilities and grid management.

Programs and resources

Con Edison offers customized programs designed for various customer groups including renters, homeowners, small and medium enterprises, commercial and industrial clients, business collaborators, investors, community organizations, and local governments. Notable initiatives include:

CONCERN Program: Provides eligible customers access to dedicated representatives who assist with government benefit navigation, safety recommendations, and energy efficiency tips.
Quarterly Billing Plan: Allows senior citizens with annual bills below $420 to receive statements every quarter instead of monthly.
SPOTLIGHT: A newsletter from Con Edison that shares news and relevant updates for customers and stakeholders.

Community partnerships

Con Edison contributes substantial financial support and volunteer efforts to non-profit organizations and educational institutions such as the New York Botanical Garden, Hudson Valley Groundworks Science Barge, Teatown Reservation, Jay Heritage Center, and the Intrepid Sea, Air & Space Museum.

Leadership and Key Executives

Timothy P. Cawley serves as Chairman, President, and CEO of Consolidated Edison, Inc.
Matt Ketschke holds the position of President at Con Edison of New York
Michele O'Connell is the President and CEO of Orange and Rockland Utilities, Inc.
Stuart Nachmias acts as President and CEO of Con Edison Transmission
Robert Sanchez is the President responsible for Shared Services
Kirkland Andrews functions as Senior Vice President and Chief Financial Officer
Mary E. Kelly occupies the role of Senior Vice President and Chief Information Officer
Jennifer Hensley serves as Senior Vice President overseeing Corporate Affairs
Yukari Saegusa is Vice President in charge of Treasury and Investor Relations
Edlyn Misquita holds the position of Vice President and General Auditor
Sylvia Dooley acts as Vice President and Corporate Secretary
Joseph Miller is Vice President, Controller, and Chief Accounting Officer
Deneen L. Donnley serves as Senior Vice President and General Counsel
Scott Sanders functions as Vice President of Business Finance
Edward L. Conway is the company’s Ombudsman

ConEd Solutions maintains membership with the Real Estate Board of New York.

Significant Accidents and Events

1977: A widespread blackout affected the city (excluding the Rockaways) triggered by lightning strikes that caused failures at substations.
1989: An explosion of a steam pipe in Gramercy Park resulted in three fatalities and 24 injuries; subsequently, Con Edison was fined $2 million after admitting to concealing asbestos contamination.
2001: The electricity substation at 7 World Trade Center was destroyed during the September 11 terrorist attacks.
2004: Electrocution of East Village resident Jodie Lane due to stray voltage prompted comprehensive inspections and enhanced safety protocols regarding stray voltage issues.
2006: Con Edison faced public criticism over delayed restoration efforts following a blackout in Queens.
2007: Near Grand Central Terminal, a steam pipe explosion caused one death and injured over 40 individuals; the failure was attributed to aging infrastructure affected by water hammer pressure. Additionally, a gas main rupture in Queens led to one fatality and a $3.75 million settlement within the same year.
2009: A gas explosion occurred in Queens while Con Edison staff were present on site; this incident resulted in revisions to gas leak response procedures.
2012: Flooding from Hurricane Sandy caused a transformer explosion on New York City’s East Side; Con Edison utilized social media platforms extensively to communicate outage information. Its subsidiary, Orange & Rockland Utilities, received criticism for extended outages lasting up to 11 days for some customers.
2014: Two apartment buildings exploded in East Harlem due to a gas leak, causing eight fatalities.
2018: A transformer short-circuit at an Astoria power plant temporarily shut down La Guardia Airport and disrupted subway operations; arc flashes illuminated the sky with blue light—dubbed the "Astoria Borealis." No injuries were reported, with investigations pointing to a relay system malfunction.
2019: Approximately 73,000 customers in Manhattan experienced a blackout caused by a burned-out cable within a transformer; power was restored after roughly three hours.
2020: Amid the COVID-19 pandemic, 170 Con Edison employees tested positive for the virus with three fatalities reported; in response, the company halted service disconnections for non-payment and waived late fees to assist customers during this period.

Bribery prosecution

On January 14, 2009, federal authorities arrested eleven supervisors from Con Edison for soliciting over $1 million in kickbacks connected to repair work following the 2007 steam pipe explosion in Midtown. Prosecutors revealed that these individuals authorized payments for work that was either unnecessary or never completed, offering expedited payments in return for bribes. The FBI gathered evidence using recording devices worn by two former Con Edison employees and the president of the construction firm, capturing demands that ranged between $1,000 and $5,000. Subsequently, Con Edison filed a lawsuit against Brendan Maher, a construction supervisor who confessed to accepting bribes amounting to $10,000.

In April 2016, Con Edison agreed to distribute more than $171 million—approximately 1.5% of its yearly revenue—to customers as restitution related to the bribery incident. The New York State Public Service Commission determined that Con Edison inadequately supervised its workforce, although the company did not concede any misconduct.

Honors and criticism

In March 2002, Fortune included Con Edison among "America's Most Admired Companies," ranking it second among electric and gas utility firms in 2003.

The nonpartisan Public Campaign criticized Con Edison in December 2011 for spending $1.8 million on lobbying efforts while avoiding tax payments between 2008 and 2010, benefiting from $127 million in tax rebates despite earning $4.2 billion in profits and increasing executive compensation by 82% to $17.4 million for its top five leaders.

In 2014, Newsweek ranked Con Edison as the top utility company and #16 overall in its Green Rankings. That same year, Latina Style Magazine recognized it as one of the 50 best employers for Latinas. Additionally, Hispanic Network Magazine named it a leading employer within the energy sector in 2015. The company also featured on DiversityInc’s list of top regional utilities in 2014 and was acknowledged by Forbes as one of America's best large employers in 2016.

In February 2021, the Energy and Policy Institute criticized Con Edison for advocating clean energy initiatives while continuing investments in infrastructure reliant on fracked gas. Their report highlighted that although renewable energy progress influences executive bonuses, there is no financial incentive tied to reducing greenhouse gas emissions.

Stop tags

When a contractor in New York City is unable to fix a reported malfunction of streetlights, traffic signals, or pedestrian lights due to power outages, Con Ed issues a stop tag. Individuals who report issues through NYC's 311 service receive this stop tag number and are advised to contact Con Ed at 800-752-6633 for further updates.

According to The New York Times, some repairs may extend beyond two years because they often require removal of fixtures or excavation of streets to replace wiring. Temporary solutions involving overhead extension cords ("Shunts") can remain in place for long durations. In 2017, Con Ed committed to completing repairs on "at least 90% ... within 90 days."

Adaptive reuse of former Con Edison properties

One of Con Edison's previous facilities located on West 53rd Street in Manhattan was transformed into the studio for the television game show Let's Make a Deal. Subsequently, it became known as the "Power Station" recording studio, which was renamed Avatar Studios in 1996 before returning to the Power Station name in 2017, capitalizing on its connection to Edison’s legacy.

In 1978, Con Edison divested the Excelsior Power Company Building situated in Manhattan's Financial District. This structure was later refurbished into residential apartments and earned designation as a New York City landmark in 2016.

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