Consolidated Edison

Consolidated Edison helps people in New York and New Jersey get the power and heat they need for their homes and businesses. The company delivers electricity, natural gas, and steam through a massive network of underground and overhead lines. These essential services keep one of the world's most populated areas running every day.

What Con Edison Delivers

• Electric Service: Provides power to roughly 3.7 million customers in New York City and Westchester County; electric operations at the main utility accounted for $11.7 billion in 2025 revenue.
• Gas Delivery: Supplies natural gas to 1.1 million customers through 4,374 miles of mains in New York City and Westchester; gas operations accounted for $3.3 billion in 2025 revenue.
• Steam System: Operates the largest steam network in the United States for 1,490 customers in Manhattan; steam operations generated $703 million in 2025 revenue.
• Orange and Rockland: Serves 300,000 electric and 100,000 gas customers in southeastern New York and northern New Jersey; electric deliveries reached $934 million in 2024.
• Transmission Projects: Invests in large-scale electric and gas infrastructure projects through Con Edison Transmission, including interests in New York Transco.

Recent Strategic Moves

• Sold the Clean Energy Businesses in March 2023 to focus on regulated utility operations and electric transmission.
• Completed the sale of a 40% portion of its interest in Mountain Valley Pipeline in January 2026.
• Announced plans to sell the remaining interest in Mountain Valley Pipeline during the first half of 2026 for total consideration of $357.5 million.
• Evaluated strategic alternatives for investments in Honeoye Storage Corporation, which operates a gas storage facility in upstate New York.

A Specialized Urban Network

The company manages the longest underground electric delivery system in the United States, which provides high reliability in a dense urban environment. This specialized infrastructure is supported by a mix of traditional energy delivery and new investments in large-scale transmission projects designed to bring clean energy to New York City.

The Financial Scorecard

• Operating revenue reached $4 billion in Q4 2025, an 8.9% increase from $3.7 billion in Q4 2024.
• Net income was $297 million in Q4 2025, down 4.2% from $310 million during the same period in 2024.
• Free cash flow rose to $176 million in Q4 2025, up 144.4% from $72 million in Q4 2024.
• Full-year net income for 2025 was $2.02 billion, compared to $1.82 billion in 2024.
• The company plans to invest $6.5 billion in energy delivery systems during 2026.

Evolution Toward Clean Energy

Con Edison has shifted its focus away from owning competitive renewable plants to investing in the regulated transmission lines needed to carry clean power. The company continues to adapt its century-old infrastructure to meet new environmental standards while maintaining service for millions of customers.