Consolidated Edison(NYSE) ED

Consolidated Edison, Inc. delivers essential energy to New York residents. It provides power and gas to local homes and businesses. These services meet basic needs for millions of people daily.

What Powers the Region?

• Regulated Electric: Delivery of power to 3.7 million customers in New York; part of a subsidiary representing 92% of revenue for the six months ended June 30, 2026.
• Natural Gas: Distribution of fuel to over 1.1 million customers through 4,350 miles of main pipelines.
• Steam Services: Operation of the largest steam distribution system in the United States to serve approximately 1,470 customers in Manhattan.
• Energy Transmission: Development of high-voltage transmission lines to support grid reliability across New York State.

Strategic Shifts and Infrastructure

• Sold its 6.6% equity interest in the Mountain Valley Pipeline for $357.5 million in the first quarter of 2026.
• Entered an agreement in April 2026 to sell its interests in Honeoye Storage Corporation for $5 million.
• Participated in the Propel NY Energy project to build 90 miles of transmission lines by 2030.

Building a Reliable Network

The company manages an energy network that includes 533 circuit miles of transmission lines and 2,291 miles of underground cabling. It utilizes a detailed planning process with the New York Independent System Operator (NYISO) to maintain grid reliability as energy demand changes.

Essential Figures and Metrics

• Operating revenues were $9.164 billion for the six months ended June 30, 2026.
• Net income for common stock was $1.232 billion for the six months ended June 30, 2026.
• Utility capital expenditures reached $2.473 billion for the six months ended June 30, 2026.
• Market capitalization was $40.8 billion in the second quarter of 2026, up 12.8% year over year.
• Aged accounts receivable over 60 days for the New York utility were $1.385 billion at June 30, 2026.

Evolving the Energy Grid

Con Edison is transitioning from a traditional utility into a provider focused on grid modernization and clean energy goals. Its recent asset sales and infrastructure investments support long-term reliability for its New York and New Jersey service areas.