Con Edison

What Con Edison does

Consolidated Edison, Inc. (NYSE: ED) is a publicly traded holding company operating one of the largest investor-owned regulated utility systems in the United States. Through its principal subsidiary, Consolidated Edison Company of New York (CECONY), the company delivers electricity to 3.6 million customers, natural gas to 1.1 million customers, and district steam service to approximately 500 million square feet of Manhattan real estate, serving more than 10 million people across New York City and Westchester County. Orange and Rockland Utilities, a wholly-owned subsidiary, extends electric and gas service to roughly 1 million people in southeastern New York and northern New Jersey, while Con Edison Transmission invests in renewable energy transmission infrastructure.

The company's core technology platform comprises advanced metering infrastructure, grid modernization systems, a Common Information Model (CIM)-based GIS-integrated data modeling pilot, utility-scale battery storage (30 MW currently), EV charging enablement (over 12,200 plugs supported), and steam system decarbonization assets. These technologies support a regulated rate base of $46.4 billion projected to grow at an 8.6% CAGR to $67.2 billion by 2030, enabled by a $29 billion five-year capital plan that includes 22 new substations and capacity additions of 750 MW by 2036.

Revenue is generated through regulated electricity, gas, and steam tariffs approved by the New York State Public Service Commission under multi-year rate plans, with the 2026-2028 plan authorizing approximately 9% electric and 6% gas cumulative rate increases. Con Edison supplements recurring regulated revenue with one-time transactional proceeds, including the recent $357.5 million Mountain Valley Pipeline divestiture. The business model is sales-led only in the sense that growth is driven by rate case outcomes, electrification demand, and new construction connections within its monopoly service territory rather than competitive sales activity. The company is led by Chairman/President/CEO Timothy P. Cawley and CFO Kirkland B. Andrews, and maintains Dividend King status with 52 consecutive years of dividend increases, currently $3.55 per share annually.

Name

Con Edison

Legal name

Consolidated Edison, Inc.

Website

https://conedison.com

Company type

Public

Founded year

1823

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Con Edison (NYSE: ED) is a regulated investor-owned utility holding company delivering electricity, natural gas, and steam to 3.6 million electric and 1.1 million gas customers across New York City and Westchester County, serving over 10 million people with a $46.4 billion rate base.

Ownership category

akta.pro rank

Product category

Regulated Electric and Gas Utility Services

NAICS

Electric Power Generation, Transmission and Distribution (2211), Natural Gas Distribution (221210), Steam and Air-Conditioning Supply (22133)

SIC

Electric Services (4911), Natural Gas Transmisison & Distribution (4923)

akta.pro primary industry

Electric Distribution System Owners (Wires-Only Companies) (EUADABAI)

akta.pro secondary industries

Gas Control Room Operations & Dispatch (Nominations, Dispatching, Switching) (EUAJAFAB), Outage, Incident & Emergency Response Coordination (Control Room) (EUAJAFAH)

Keywords

• Regulated electric utility
• Natural gas distribution
• District steam service
• Energy delivery infrastructure
• Grid modernization services

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Infrastructure, Personnel, Operations, Technology or R&D, Supply Chain, Others

Revenue model

1. Electric Distribution: Regulated electricity distribution to 3.6 million customers in NYC and Westchester. Revenue is approved through rate cases with NY PSC, with 2026-2028 rate plan providing ~9% electric rate increases over three years. Revenue is driven by rate base growth of 8.6% CAGR projected from $46.4B to $67.2B by 2030.
2. Natural Gas Distribution: Regulated natural gas distribution to 1.1 million customers in Manhattan, Bronx, Queens, and Westchester. Revenue approved through rate cases with ~6% gas rate increases over 2026-2028 rate plan period.
3. Steam Service: Steam service to approximately 500 million square feet of Manhattan real estate through one of the largest district steam systems in the world.
4. Mountain Valley Pipeline Divestiture: One-time proceeds from sale of equity interest in Mountain Valley Pipeline, LLC for $357.5 million completed in Q1 2026.
5. At-The-Market Equity Offerings: $2 billion ATM equity offering program to fund subsidiary capital requirements and general corporate purposes through sale of common shares on NYSE.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

Con Edison is a regulated investor-owned utility holding company that delivers electricity to 3.6 million customers, natural gas to 1.1 million customers, and steam service to approximately 500 million square feet of Manhattan real estate across New York City and Westchester County. Through its CECONY and Orange & Rockland subsidiaries, the company operates one of the largest energy delivery systems in the world, complemented by clean energy programs including EV charging infrastructure, battery storage, and energy affordability initiatives.

Product overview

Con Edison is a regulated utility company operating as a holding company with three main subsidiaries: Con Edison of New York (CECONY), Orange & Rockland Utilities, and Con Edison Transmission. CECONY provides electric service to 3.6 million customers, natural gas to 1.1 million customers, and steam service in Manhattan. The company offers various clean energy and efficiency programs including EV charging infrastructure through PowerReady and MHD Make-Ready, battery storage totaling 30 MW, and the Energy Affordability Program providing bill discounts to low-income customers. Recent initiatives include the largest electric school bus fleet in New York State and clean energy projects like the Brooklyn Clean Energy Hub and Idlewild Project. The company is working toward a 100% clean energy grid by 2040.

Differentiator

Problem solved

Functional benefit

Products and services

• Electric Distribution Service

Quantifiable outcome

• 52 consecutive years of dividend increases with 4.4% raise to $3.55 annual dividend in January 2026
• +4 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Five partnerships are on record, tiered core and minor.

• GVC (Global Vehicle Corporation)coreStrategic or Co-development Partner · 17 June 2026Con Edison partnered with GVC to launch the largest electric school bus fleet in New York State. The project deployed 45 new electric buses with 23 dual-port chargers in the Bronx, preventing 1 million pounds of carbon emissions annually. Con Edison provided a $450,000 incentive through its MHD Make-Ready Pilot program and coordinated grid upgrades to Zerega Avenue and Hunts Point. The fleet serves children with special needs, approximately 4,100 student trips weekly, addressing childhood asthma rates in the South Bronx that exceed twice the national average.
• Every ElectriccoreStrategic or Co-development Partner · 1 May 2026Partnership with Every Electric to test plug-in batteries designed to power air conditioning units offline during peak demand periods. The renter-friendly pilot program expands to over 1,000 homes in summer 2026, with batteries charging during off-peak hours and running window AC units during peak times. Participants receive cash rebates equivalent to their July electric bills, helping reduce grid strain while offering affordable cooling solutions.
• Stony Brook UniversityminorStrategic or Co-development Partner · 18 March 2026Partnership between Stony Brook University and Haugland Group aims to address the power industry workforce shortage through education and training programs, including high school initiatives and teacher training. Programs are funded through a mix of government, industry, and university resources, focusing on attracting diverse participants including women. The model is designed to be scalable and replicable across different regions and energy sectors.
• SAM (Strategic Asset Management)minorImplementation/ SI/ Consulting Partner · 29 January 2026SAM was awarded a consulting contract by Con Edison Company of New York to support a pilot project demonstrating the effectiveness of Common Information Model (CIM)-based data modeling integrated with Geographic Information Systems (GIS) for utility grid modernization. SAM will apply its expertise in CIM standards, utility data modeling, and GIS to define CIM-compliant structures, map existing GIS asset data to the standard, and validate the approach through targeted use cases.
• David EnergyminorStrategic or Co-development Partner · 1 January 2026David Energy installed three plug-in batteries at Black Seed Bagels' Bushwick location to reduce peak electricity demand and lower costly demand charges from Con Edison. The batteries power high-energy appliances including commercial ovens and refrigerators, allowing the shop to shift power draw away from the grid during peak usage periods. David Energy has signed deals to install batteries at about 50 locations with over 500 kilowatt-hours of total storage capacity.

Scale indicators16 records

Recent moves10 records

Expansion highlights5 records

Broad incumbents

• WEC Energy Group: Wisconsin-headquartered regulated electric and gas utility with operations across the Midwest. Similar regulated utility model with comparable capex-driven rate base growth and steady dividend profile.
• Eversource Energy: Large Northeast US regulated electric, gas, and water utility operating across Massachusetts, Connecticut, and New Hampshire. Comparable as a multi-state wires-and-pipes utility with similar decarbonization mandates and rate-base growth strategy.
• Exelon Corporation: Pure-play T&D utility holding company serving multiple mid-Atlantic and Midwest states including Pennsylvania, Illinois, Maryland, and New Jersey. Comparable regulated electric distribution model with rate-base growth and strong dividend yield profile.
• Xcel Energy: Multi-state regulated electric and gas utility across 8 Western and Midwestern states. Comparable scale, regulated rate base growth strategy, and active clean energy transition exposure (similar 100% clean energy targets).
• DTE Energy: Michigan-based regulated electric and gas utility. Comparable wires-and-pipes regulated utility structure with active grid modernization investment cycle and similar multi-decade dividend growth profile.
• Duke Energy: One of the largest US investor-owned utilities, serving the Carolinas, Florida, and the Midwest. Comparable regulated electric and gas utility scale with massive capex programs and electrification exposure, though concentrated in different geographies.
• Southern Company: Major US regulated electric and gas utility serving the Southeast. Comparable scale and regulated rate base model with significant capital investment programs, though with different regional regulatory environment.
• NextEra Energy: Largest US renewable energy generator combined with regulated Florida Power & Light utility. Comparable on regulated utility scale and clean energy transition exposure, though differentiated by its renewables generation arm (FPL vs. NEER).

Direct peers

• Public Service Enterprise Group (PSEG): New Jersey-based regulated electric and gas utility serving the immediate neighbor territory to Con Edison's NYC metro footprint. PSEG's regulated T&D business is structurally comparable in customer mix, regulatory framework under NJ Board of Public Utilities, and exposure to Northeast US electrification demand.
• National Grid plc: UK-listed utility with material regulated gas and electric operations in the NYC/Long Island region (acquired KeySpan). Most directly comparable to Con Edison on gas distribution economics in dense Northeast urban territory, with similar regulatory and customer-affordability dynamics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles19 records

Subsidiaries3 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Con Edison