ED Consolidated Edison Inc.

Con Edison Proposing New ‘Smart’ Solutions for Gas Reliability, Environmental Benefits

Con Edison Proposing New ‘Smart’ Solutions for Gas Reliability, Environmental Benefits

NEW YORK, Oct. 01, 2018 (GLOBE NEWSWIRE) -- Con Edison is proposing to invest in renewable natural gas and offer new incentives for customers who upgrade their heating equipment or install heat pumps to reduce natural gas usage. The company’s proposal comes at a time when the need for natural gas has grown rapidly in New York City and Westchester County.

“This program will help us maintain reliable service so that our customers can keep their homes and businesses warm and comfortable, while helping to support state and local energy goals,” said Marc Huestis, Con Edison’s senior vice president, Gas Operations. “However, these measures do not eliminate the need for a new natural gas pipeline to keep up with our region’s energy needs.”

Con Edison’s proposal to the New York State Department of Public Service includes measures to offset peak-day gas demand by 84,500 dekatherms, enough to avoid greenhouse gas emissions equivalent to 5 million tons of carbon dioxide over the life of the program.

The measures – which were proposed by respondents to a Con Edison competitive solicitation - include:

  • The construction of up to three renewable gas facilities that would turn food waste, sludge, yard and other waste into natural gas. These projects would reduce the need for conventional natural gas by up to 7,100 dekatherms on a peak winter day.
  • Payments to encourage customers to invest in energy efficient heating equipment to replace older, less efficient equipment. These measures would reduce peak winter-day demand by up to 25,000 dekatherms.
  • Payments that reduce upfront costs for customers who invest in heat pumps to electrify their heating systems. This program would reduce peak winter day demand by up to 12,400 dekatherms.
  • The construction of two to five compressed natural gas (CNG) and liquefied natural gas (LNG) storage sites in Westchester County. The supply would reduce the need for conventional natural gas pipeline supplies by 40,000 dekatherms on peak winter days.

The company is seeking $305 million in funding for the program. The maximum increase in the gas bill when the program funds are fully spent around 2025 would be approximately 1.5 percent for an average residential or small business customer. For a typical residential heating customer, this would be about $2 per month. But that does not include savings and environmental benefits the company expects the program to produce for customers.

Renewable natural gas is produced without combustion and with little odor outside the facility. The process reduces emissions of methane, a greenhouse gas, which would otherwise occur if the food waste were put in a landfill.

The energy efficiency incentives build on programs the company already offers for upgrades by residential, business and multi-family customers. Con Edison will target some of the incentives toward low-income customers and government buildings.

The plan to work with customers to electrify their space heating is an important part of the proposal. The plan calls for installing ground-source heat pumps at up to 8,800 single-family homes in Westchester County and air-source heat pumps at up to 1,000 small and mid-sized multi-family buildings currently using fuel oil for heating in the Bronx and other areas of Con Edison’s service territory.

The company would also provide incentives for heat pumps at more than 1,000 small commercial and large residential facilities in the region. The company would target some of these efforts at buildings housing low-income tenants.

Con Edison is working with potential partners to identify possible locations for the renewable natural gas, CNG and LNG facilities.

The CNG and LNG storage plants would accept fuel transported by trucks. The fuel would be stored and flow into Con Edison’s gas distribution system on winter days when demand is high. The LNG would be stored in tanks. On cold winter days, the supply would be replenished with additional deliveries by truck.

Con Edison is a subsidiary of Consolidated Edison, Inc. (NYSE: ED), one of the nation’s largest investor-owned energy companies, with approximately $12 billion in annual revenues and $49 billion in assets. The utility delivers electricity, natural gas and steam to 3.4 million customers in New York City and Westchester County, N.Y. For financial, operations and customer service information, visit conEd.com. For energy efficiency information, visit . Also, visit us on and

CONNECT WITH US:

Facebook: 

Twitter: 

YouTube: 

Contact:    

Media Relations

212-460-4111

EN
01/10/2018

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Consolidated Edison Inc.

Dave Nicoski ... (+2)
  • Dave Nicoski
  • Ross LaDuke

Vermilion Compass: Weekly Equity Strategy

Upgrade Staples to Overweight; Downgrading Services We maintain our near-term bullish outlook on the S&P 500 (SPX) and Russell 2000 (IWM), which has remained in place since 4/22/25, aside from one week (11/19/25-11/25/25) when we went to neutral. We will stay near-term bullish as long as crucial support levels of 6780-6824 on SPX and $255-$257 on IWM continue to hold; every minor dip below these levels has been for no longer than a day, before buyers have stepped-in. We continue to see more det...

Consolidated Edison Company of New York, Inc.: Joint proposal rate set...

While allowing a higher return on equity, the joint proposal will reduce cash flow benefits from certain categories in each year of the 2026-28 rate plan.

Moody's Ratings announces completion of a periodic review of ratings o...

Moody's Ratings (Moody's) has completed a periodic review of the ratings of Consolidated Edison, Inc., Consolidated Edison Company of New York, Inc. and other ratings that are associated with these issuers. The review was conducted through a rating committee held on 26 September 2025 in which we re...

Dave Nicoski ... (+2)
  • Dave Nicoski
  • Ross LaDuke

Vermilion Compass: Weekly Equity Strategy

S&P 500 and Nasdaq 100 Testing Initial Support In last week's 2/25/25 Compass, we discussed our expectation for near-term downside as the S&P 500 and Nasdaq 100 (QQQ) displayed several bearish short-term developments. We also said it likely means at least another 2-4 weeks of consolidation, and that if the S&P 500 remains below 6100 and 6150 resistances, do not be surprised if there is a test of the bottom of the range at either 5770-5850 or 5600-5670, where we would be buyers (though we need 5...

Dave Nicoski ... (+2)
  • Dave Nicoski
  • Ross LaDuke

Vital Signs: Actionable charts

In this product we rank the most positive and negative domestic stocks, filter the symbols by market-cap and trading volume, and then divide the companies into sectors and groups. We then manually look through charts leadership/changes, bottoms-up/top-down ideas, short-term patterns that may have long-term significance, etc. We believe you will find this product valuable as significant price and relative moves begin in the daily charts.

ResearchPool Subscriptions

Get the most out of your insights

Get in touch