Consolidated Edison Inc. is an American company, based in New York City, that focuses on regulated electric, gas and steam delivery businesses.
The company was incorporated in New York State in 1997 and is publicly listed on the New York Stock Exchange (NYSE), under the stock ticker symbol ‘ED’.
It offers its electricity, gas, and steam products and services through its various different subsidiaries.
Its principal subsidiaries are:
Consolidated Edison Company of New York – provides electric service to approximately 3.3 million customers and gas service to approximately 1.1 million customers in New York City and Westchester County. It also offers steam services in the Manhattan area.
Orange & Rockland Utilities’ (O&R) – supplies electric service to around 301,000 customers in southeastern New York, eastern Pennsylvania, and northern New Jersey and gas service to 130,000 customers in the same area.
Con Edison Solutions – provides electricity directly to delivery-service customers of utilities in the Mid-Atlantic and Northeast regions.
Con Edison Development – involved in infrastructure projects. As of 2014, the business has around 150 MW of solar photovoltaic projects in development.
Con Edison Energy – this segment sells energy produced by plants owned, leased, or operated by others.
Overview
- President and CEO: John McAvoy
- Chairman: Kevin Burke
- Type: Public
- Industry: Electricity and Gas
- Listed on the New York Stock Exchange (NYSE)
- NYSE stock ticker symbol: ED
- S&P 500 Component
- Revenue: $12.354 billion USD (2013)
- Net income: $1.062 billion USD (2013)
- Diluted earnings per share: $3.61 USD (2013)
- Employees: 14,648 (across its subsidiaries in 2013)
- Corporate headquarters: 4 Irving Place, New York, New York 10003, USA
- Corporate contact number: (212) 460-4600
- Investor relations email address: [email protected]
- Website: http://www.conedison.com/
| Operating data (in $ millions) | 2013 | 2012 |
| Electric revenue | $8,756 | $8,765 |
| Gas revenue | $1,821 | $1,618 |
| Steam | $683 | $596 |
| Non-utility | $1,094 | $1,209 |
| Total operating revenues | $12,354 | $12,188 |
| Total operating expenses | $10,110 | $9,849 |
| Operating income | $2,244 | $2,339 |
| Other income | $13 | $6 |
| Income before interest and income tax expense | $2,257 | $2,345 |
| Interest expense | $719 | $604 |
| Income before tax expense | $1,538 | $1,741 |
| Income tax expense | $476 | $600 |
| Net income | $1,062 | $1,141 |
| Net income for common stock | $1,062 | $1,138 |
| Comprehensive income | $1,090 | $1,146 |
| Balance sheet data (in $ millions) | ||
| Total assets | $40,647 | $41,209 |
| Long-term debt | $10,489 | $10,062 |
| Total common shareholders’ equity | $12,245 | $11,869 |
| Cash flow data (in $ millions) | ||
| Net cash provided by operating activities | $2,552 | $2,599 |
| Net cash used in investing activities | $(2,659) | $(2,523) |
| Net cash provided by (used in) financing activities | $387 | $(330) |
| Cash and cash equivalents at end of year | $674 | $394 |
| Common share data (in $) | ||
| Basic earnings (loss) per common share | $3.62 | $3.88 |
| Diluted earnings (loss) per common share | $3.61 | $3.86 |
Source: “Consolidated Edison, Inc. 2013 FORM 10-K Annual Report”