Consolidated Edison
A New York-based investor-owned energy company whose regulated utilities provide electricity, natural gas, and steam services.
Last updated October 25, 2026
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Overview
Consolidated Edison, Inc., commonly known as Con Edison or ConEd, is an investor-owned energy company headquartered in New York City. Its corporate lineage reaches back to the incorporation of the New York Gas Light Company in 1823, making it one of the oldest continuously listed corporate histories associated with the New York Stock Exchange. The company evolved from a collection of gas-lighting, electric, and steam enterprises into the principal regulated energy distributor for New York City and parts of the surrounding region. The company’s central operating subsidiary is Consolidated Edison Company of New York, Inc. (CECONY). CECONY supplies electricity and natural gas in New York City and Westchester County and operates the Manhattan steam system. Orange and Rockland Utilities, Inc., another regulated subsidiary, serves customers across a large territory in southeastern New York and northern New Jersey. Con Edison Transmission, Inc. invests in electric and natural-gas transmission infrastructure. Through these businesses, the company operates primarily as an energy delivery and infrastructure enterprise rather than as a nationwide retail energy brand. Electricity is the company’s largest business. Its dense urban network combines underground cables, overhead lines, substations, and high-voltage interconnections with neighboring systems. Con Edison’s gas network serves portions of Manhattan, the Bronx, Queens, and Westchester County, while other New York City areas are supplied by National Grid. The company also operates one of the world’s largest district steam systems. Steam produced at several facilities is distributed to commercial, institutional, and residential buildings in Manhattan, including prominent structures such as the Empire State Building, the United Nations complex, and the Metropolitan Museum of Art. Con Edison’s history includes the consolidation of numerous nineteenth- and twentieth-century gas, electric, and steam companies. The acquisition of Edison Illuminating Company in 1901 connected the business to the early commercial electricity industry associated with Thomas Edison. As electricity became more important than gas lighting, the company changed its name from Consolidated Gas Company of New York to Consolidated Edison Company of New York in 1936. Its later corporate structure was reshaped by New York State utility deregulation: Consolidated Edison, Inc. became the holding company on January 1, 1998, and Orange & Rockland Utilities was acquired that year. The company formerly owned generation assets, including the Indian Point nuclear facility, but divested its remaining nuclear generation interests in 2000. This left Con Edison primarily focused on regulated distribution and transmission. It developed a renewable-energy business involving solar and wind investments, later selling its clean-energy business to RWE in 2023. The company also supports electrification and demand management, including programs intended to encourage electric-vehicle charging during periods of lower system demand. Con Edison’s public profile has been shaped both by the scale of its infrastructure and by major service incidents. Historic events include the 1977 New York City blackout, steam-pipe failures, gas-main explosions, storm-related outages, and controversies concerning restoration performance and infrastructure safety. These incidents have led to investigations, penalties, settlements, procedural changes, and continuing scrutiny by regulators and public officials. Alongside its utility obligations, Con Edison maintains customer-assistance, energy-efficiency, smart-meter, community-affairs, and environmental programs. Its brand is therefore closely associated with the reliability, safety, and modernization of New York’s energy systems.
History
Consolidated Edison traces its corporate history to the New York Gas Light Company, incorporated on March 23, 1823. The company received an early franchise to lay gas pipes in streets south of Grand Street in Manhattan and was listed on the New York Stock Exchange the following year. During the nineteenth century, the New York gas business developed through a mixture of franchises, competition, consolidation, and relationships with New York City’s political institutions. On November 10, 1884, New York Gas Light merged with several other Manhattan gas companies to create the Consolidated Gas Company of New York. The business later expanded into electricity. In 1901, it purchased Edison Illuminating Company, an enterprise founded in 1880 and associated with Thomas Edison’s early commercial electric-lighting operations. The electric industry initially contained many competing generators and distributors, but consolidation made the company’s electricity business increasingly dominant in New York City and Westchester County. The importance of electricity eventually eclipsed gas lighting. A 1936 company report indicated that electricity generated roughly three-quarters of gross operating revenue. Stockholders therefore approved a name change on March 16, 1936, creating Consolidated Edison Company of New York, Inc. The company continued to absorb, merge with, or otherwise succeed more than 170 electric, gas, and steam enterprises over its broader history. Steam became another important part of the business. The New York Steam Company began service in Lower Manhattan in 1882, and Con Edison acquired it in 1954. The resulting Manhattan district steam network grew into the world’s largest commercial steam system, supplying heating and cooling to a large concentration of buildings between the southern tip of Manhattan and the Upper East Side. Con Edison also entered electric generation, including nuclear power. It acquired land at Buchanan, New York, for the Indian Point facility in 1954. Indian Point 1 began operating in 1962 but was shut down in 1974 after its emergency core-cooling system failed to meet regulatory requirements. Indian Point 3 was sold to the New York Power Authority in 1975. Entergy acquired Indian Point 2 in 2000 after a steam-generator leak. The divestitures left Consolidated Edison, Inc. primarily focused on energy distribution rather than owning generating stations. New York State’s utility restructuring led to the formation of Consolidated Edison, Inc. as a holding company on January 1, 1998. That year the holding company acquired Orange & Rockland Utilities, which continued to operate as a separate regulated utility. The modern organization consists principally of CECONY, Orange and Rockland Utilities, and Con Edison Transmission, together with related energy businesses. In the 2010s, Con Edison invested in solar and wind projects and announced additional renewable-energy investment. The company also developed programs supporting electric vehicles, demand management, customer assistance, and advanced metering. Its smart-meter project replaced more than five million electric and gas meters, with most of the rollout completed by 2022. In 2023, Con Edison sold its clean-energy business to RWE. The company’s history also includes serious infrastructure incidents. The 1977 blackout affected most of New York City. A 1989 steam explosion in Gramercy Park caused deaths, injuries, and asbestos concerns. A 2004 stray-voltage incident killed Jodie Lane and her dog. A 2007 steam-pipe explosion near Grand Central Terminal caused another death and numerous injuries, while a separate Queens gas-main rupture killed Kunta Oza. Hurricane Sandy caused flooding and equipment failures in 2012, and the 2014 East Harlem gas explosion killed eight people. These events brought regulatory, legal, and public scrutiny to the safety and resilience of the company’s aging urban infrastructure.
- 2023
Clean-energy business sold to RWE
[1]Con Edison divested its clean-energy business to RWE.
- 2022
Most smart-meter installations completed
[1]The majority of the company’s large-scale electric and gas smart-meter replacement program was completed.
- 2017
Renewable-energy investment expanded
[1]The company announced a planned investment of $1.25 billion in renewable-energy production facilities over three years.
- 1998
Holding-company structure established
[1]Consolidated Edison, Inc. became the holding company following New York utility restructuring, and it acquired Orange & Rockland Utilities.
- 1977
New York City blackout
[1]Lightning-related equipment and interconnection failures caused a widespread overnight blackout.
- 1962
Indian Point 1 begins generation
[1]The first Indian Point reactor began generating electricity.
- 1954
Steam business acquired and Indian Point land obtained
[1]Con Edison acquired the New York Steam Company and obtained land associated with the future Indian Point nuclear facility.
- 1936
Company adopts the Consolidated Edison name
[1]The company changed its name to Consolidated Edison Company of New York to reflect the growing importance of electricity.
- 1901
Edison Illuminating Company acquired
[1]Consolidated Gas acquired Edison Illuminating Company, strengthening its position in New York’s emerging electric-lighting industry.
- 1884
Consolidated Gas Company of New York formed
[1]New York Gas Light merged with several other gas companies to form Consolidated Gas Company of New York.
Products and positioning
A critical New York energy-infrastructure operator centered on regulated electricity, gas, and steam delivery, system reliability, and the transition toward cleaner energy.
Electric utility
Electricity distribution
Con Edison distributes electricity through a highly dense urban transmission and distribution system serving New York City and Westchester County. The network includes high-voltage interconnections with neighboring utilities and extensive underground and overhead infrastructure. Electricity is the company’s largest operating service and supports residential, commercial, institutional, and industrial customers.
Gas utility
Natural gas distribution
The company distributes natural gas in parts of New York City and Westchester County through a large network of mains and service pipes. Its New York City gas territory includes Manhattan, the Bronx, portions of Queens, and the Rockaway peninsula under a different utility arrangement, while other city areas are served by National Grid.
District energy · 1954
Manhattan district steam
Con Edison operates the Manhattan steam system, one of the largest commercial district-steam networks in the world. Steam is used for heating, cooling, humidification, and process applications in major commercial and institutional buildings, including prominent cultural, governmental, and office properties.
Energy infrastructure
Transmission investments
Con Edison Transmission invests in electric and natural-gas transmission projects. These activities complement the regulated distribution utilities by linking regional energy systems and supporting the movement of electricity and gas into the company’s operating markets.
Customer technology
Smart-metering program
The smart-meter program replaced millions of electric and gas meters with advanced metering equipment. The project was intended to improve billing information, outage awareness, usage visibility, and the management of a more flexible electricity system.
Energy-management service
Electric-vehicle demand-management incentives
Con Edison has supported electric-vehicle adoption and grid smoothing through programs encouraging customers to charge vehicles during lower-demand periods. One program, developed with FleetCarma, offered rewards to qualifying electric-vehicle owners in New York City and Westchester County.
Controversies
2020
New York imposes fines over utility response to 2018 storms
The New York Public Service Commission imposed fines totaling $10.75 million on Con Edison and Orange & Rockland Utility over their preparation for and handling of power outages following the March 2018 storms Riley and Quinn. The settlement also included an agreement by the utilities to implement 144 Commission recommendations.
2014
East Harlem gas explosion
A gas-related explosion destroyed two East Harlem apartment buildings and killed eight people, prompting substantial public and legal scrutiny.
2012
Hurricane Sandy infrastructure failures
Flooding associated with Hurricane Sandy caused a transformer explosion at a Manhattan facility. Orange & Rockland’s restoration response was also criticized after some customers remained without power for an extended period.
2009
Queens manhole and gas-leak explosion
A simultaneous gas leak and electrical-feeder fault caused an explosion in Queens. The incident led Con Edison to revise procedures for responding to outside gas-leak reports.
2007
Grand Central steam-pipe explosion
An 83-year-old steam pipe failed in Midtown Manhattan, killing one person, injuring more than 40, and causing widespread transportation disruption.
2007
Queens gas-main rupture
A ruptured cast-iron gas main critically injured Kunta Oza, who died shortly afterward. Her family later reached a settlement with Con Edison.
2006
Criticism following Queens blackout
Public officials criticized the company’s performance in restoring service after a major Queens blackout.
2004
Jodie Lane stray-voltage death
Jodie Lane and her dog were killed after contact with a service box carrying stray voltage. The incident generated criticism of electrical safety and infrastructure inspection practices.
1989
Gramercy Park steam explosion and asbestos case
A steam-pipe explosion killed three people and injured 24. The incident also involved asbestos contamination concerns; Con Edison later pleaded guilty to making false statements concerning the contamination and paid a fine.
Marketing campaigns
- Electric-vehicle off-peak charging rewards
New York City · Westchester County
Con Edison partnered with FleetCarma on a program that rewarded participating electric-vehicle owners for charging when electricity demand was lower, linking transportation electrification with grid-management objectives.
Outcome. Customer incentive and demand-management program
- CONCERN customer-assistance program
New York service territory
The CONCERN program provides eligible customers with specialized assistance, information about government support, safety guidance, and suggestions for reducing energy costs.
Outcome. Ongoing customer-support resource
- Community partnerships
New York metropolitan region
Con Edison contributes funding and volunteer support to nonprofit, environmental, educational, and cultural organizations, including the New York Botanical Garden, Science Barge, Teatown Reservation, Jay Heritage Center, and Intrepid Sea, Air & Space Museum.
Outcome. Community-affairs and stakeholder-engagement activity
Brand decisions
2023
Sell clean-energy business to RWEM&ABackground
Con Edison reassessed the role of its competitive clean-energy activities relative to its regulated utility and transmission businesses.
Action taken
The company sold its clean-energy business to RWE.
Aftermath
The transaction returned Con Edison’s strategic emphasis to regulated energy delivery and transmission infrastructure.
2017
Expand renewable-energy investmentStrategyBackground
Con Edison sought to grow its renewable portfolio while maintaining its regulated utility operations.
Action taken
The company announced a planned investment of $1.25 billion in renewable-energy production facilities over three years.
Aftermath
The renewable portfolio grew to more than 1.5 gigawatts of operating capacity before the clean-energy business was sold to RWE in 2023.
Planned renewable-energy investment. $1.25 billion planned (2017 announcement covering the following three years)
2000
Exit direct ownership of Indian Point 2StrategyBackground
Con Edison had been reducing its exposure to electric generation after earlier Indian Point asset changes and regulatory developments.
Action taken
Entergy acquired Indian Point 2, leaving Con Edison primarily focused on energy distribution.
Aftermath
The company’s business profile became centered on regulated delivery networks and transmission rather than owned generation.
1998
Create a holding-company structureStrategyBackground
New York State utility deregulation changed the organization and regulatory framework of the electricity industry.
Action taken
Consolidated Edison, Inc. was established as the holding company for regulated utilities and other energy businesses.
Aftermath
The structure enabled the company to operate regulated utilities alongside transmission and competitive energy activities.
1936
Rename the company to reflect electric growthStrategyBackground
Electricity had become the dominant source of operating revenue, reducing the accuracy of the company’s gas-centered name.
Action taken
Stockholders approved the name Consolidated Edison Company of New York.
Aftermath
The new identity reflected the company’s transformation from a gas-lighting enterprise into a diversified electric, gas, and steam utility.
Recent events
- Unconfirmed
Reported
New York imposes fines over utility response to 2018 storms[3]
The New York Public Service Commission imposed fines totaling $10.75 million on Con Edison and Orange & Rockland Utility over their preparation for and handling of power outages following the March 2018 storms Riley and Quinn. The settlement also included an agreement by the utilities to implement 144 Commission recommendations.
Reported
Con Edison reports 2014 earnings[4]
Consolidated Edison, Inc. reported 2014 net income for common stock of $1.092 billion, compared with $1.062 billion in 2013, and earnings from ongoing operations of $1.140 billion.
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