Con Edison Files New Rate, Investment Plan

NAW Staff, Monday 12 May 2008 - 10:28:01

New York-based Consolidated Edison Co. of New York Inc. (Con Edison) is filing new electric rate and investment plans with the New York State Public Service Commission (PSC) to begin April 1, 2009.

Adding another phase to the company's EnergyNY plan, the rate proposal seeks to address the long-term energy infrastructure investment requirements of New York City and Westchester County, while establishing new permanent demand-reduction and energy efficiency programs. EnergyNY is Con Edison's commitment to offer programs and initiatives that will help New Yorkers go green and invest in the area's energy delivery system.

"New energy-efficiency programs and increased conservation play an essential role in our strategy to meet the long-term energy needs of our customers and to support, in a responsible way, the growth of the region's economy," says Kevin Burke, chairman and CEO of Con Edison.

Con Edison's rate filing offers two proposals to the PSC. The first plan seeks $654 million in additional electric delivery revenues, resulting in a 5.8% average increase in total customer bills.

Con Edison is also proposing an alternative rate plan: a three-year plan that would raise annual revenues by $557 million, increasing total bills by 4.9% in each of the next three years.

As part of the company's overall three-year $5.5 billion capital program to enhance its electric delivery infrastructure, Con Edison is planning the following investments:

- construction and energization of one new transmission station and three new area substations,

- installation of 3,100 miles of high-voltage distribution cable and 3,000 miles of low-voltage distribution,

- installation of 16 new or upgraded transmission feeders, and

- installation of 4,500 distribution transformers and six substation transformers and equipment.

SOURCE: Consolidated Edison Co. of New York Inc.



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