Consolidated Edison

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Consolidated Edison, Inc., known as Con Edison or ConEd, is a major energy company based in New York City. It serves the New York metropolitan area with electric, natural gas, and steam services through its regulated utilities and other energy businesses. It is one of the largest investor-owned energy companies in the United States, with about $15.3 billion in revenue in 2024 and more than $70 billion in assets. It trades on the NYSE under the symbol ED.

Key facts
- Revenue (2024): about $15.26 billion; Operating income: about $2.67 billion; Net income: about $1.82 billion
- Assets: about $70.56 billion; Equity: about $21.96 billion; Employees: about 15,097
- Area served: New York City, Westchester County, and surrounding areas
- Major services: Electric, natural gas, and steam distribution; operates the world’s largest district steam system

History in brief
- The company traces its roots to 1823 with the New York Gas Light Company. Through many mergers over the years, it became Consolidated Edison.
- It once owned Indian Point nuclear plants, but sold its power plants in the 2000s and now focuses on energy distribution.
- In 1998, a holding company structure was formed after utility deregulation; in 2023, Con Edison sold its clean energy business to RWE.

Today’s operations
- Con Edison runs a large electricity and natural gas distribution network and the world’s biggest district steam system, serving millions of customers in New York City and nearby areas.
- It maintains a substantial transmission system with high-voltage lines and interconnections to other energy markets, and continues grid modernization efforts, including smart meters and programs to support electric vehicles.