Consolidated Edison, Inc. (Con Edison) is one of the largest investor-owned energy delivery companies in the United States, with approximately $15 billion in annual revenues for the year ending 2023 and $69 billion in assets as of September 30, 2024 . The company operates primarily through its subsidiaries, providing regulated electric, gas, and steam services . Con Edison's main business activities include energy delivery and transmission, with a significant portion of its revenue generated from electric operations . The company sells energy services through its subsidiaries, focusing on electric, gas, and steam services .
- Consolidated Edison Company of New York, Inc. (CECONY) - Provides regulated electric, gas, and steam services, contributing significantly to the company's overall revenue.
- Orange and Rockland Utilities, Inc. (O&R) - Offers regulated electric and gas services in southeastern New York and northern New Jersey.
- Con Edison Transmission, Inc. - Focuses on electric transmission projects and manages both electric and gas assets, with a minimal revenue contribution compared to the utility segments.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Timothy P. Cawley ExecutiveBoard | Chairman, President, and CEO | Director of American Gas Association, Edison Electric Institute, Partnership for New York City, Trust for Governors Island | Joined ED in 1987; became CEO in December 2020; extensive leadership in utility operations and strategic planning. | View Report → |
Joseph Miller Executive | Vice President, Controller, and CAO | None | Serves as Chief Accounting Officer; signature appears in the most recent 8-K filing from November 2024. | |
Kirkland B. Andrews Executive | Chief Financial Officer | None | Succeeded Robert Hoglund as CFO in July 2024; oversees financial strategy and operations. | |
Robert Sanchez Executive | President, Shared Services (CECONY) | None | Former President & CEO of Orange & Rockland Utilities; transitioned to Shared Services role in April 2024. | |
Armando J. Olivera Board | Director | Director at Fluor Corporation and Lennar Corporation; Trustee Emeritus at Cornell University | Former CEO of Florida Power & Light; extensive experience in utility operations and sustainability. | |
Catherine Zoi Board | Director | Director at Soli Organic, Inc. | Former CEO of EVgo; extensive leadership in clean energy and sustainability sectors; served in the Obama Administration overseeing energy investments. | |
Deirdre Stanley Board | Director | Trustee of Hospital for Special Surgery and The Dalton School | Former EVP and General Counsel at Estée Lauder and Thomson Reuters; extensive legal and corporate governance expertise. | |
Dwight A. McBride Board | Director | Trustee of Institute of International Education; Board Member of Dan David Prize | Academic leader; currently Gerald Early Distinguished Professor at Washington University in St. Louis. | |
Ellen V. Futter Board | Director | Director of Evercore Inc.; Trustee of Brookings Institution, Cold Spring Harbor Laboratory, Memorial Sloan-Kettering Cancer Center | Former President of the American Museum of Natural History; extensive experience in management and operations of public-serving organizations. | |
John F. Killian Board | Director | Trustee of Goldman Sachs Trust II; Trustee Emeriti of Providence College | Former CFO of Verizon Communications; extensive experience in financial reporting and internal auditing. | |
Karol V. Mason Board | Director | President of John Jay College; Director of Southern Poverty Law Center; Advisory Board Member for multiple organizations | President of John Jay College; extensive leadership in education and public service. | |
L. Frederick Sutherland Board | Director | Director at Colliers International and Sterling Check Corp.; Trustee of WHYY, Duke University, and National Constitution Center | Former CFO of Aramark; expertise in financial reporting, risk management, and corporate compliance. | |
Linda S. Sanford Board | Director | Director at Pitney Bowes and Interpublic Group; Trustee of New York Hall of Science | Former Senior VP at IBM; expertise in IT, cybersecurity, and corporate transformation. | |
Michael W. Ranger Board | Director | Senior Managing Director at Diamond Castle Holdings LLC; Trustee of Atlantic Health System | Extensive experience in investment banking and private equity, particularly in the energy sector. | |
William J. Mulrow Board | Director | Senior Advisory Director at Blackstone; Director at JBG Smith Properties and Titan Mining Corporation | Extensive experience in finance and asset management; former Secretary to the Governor of New York. |
Research analysts covering CONSOLIDATED EDISON.
Recent press releases and 8-K filings for ED.
- Serves over 5 million utility customers: CECONY delivers electricity to 3.7 million, gas to 1.1 million, and steam to 1,500 customers; O&R delivers to 0.3 million electric and over 0.1 million gas customers.
- Industry-leading reliability: CECONY’s electric system is nine times more reliable than the U.S. average, with a SAIDI of 106 versus the national 940 minutes.
- Strong financial foundation: As of June 30, 2025, ~$36 billion equity market cap, targeting an 8.2% five-year rate base CAGR, and 51 consecutive years of dividend increases.
- Significant resiliency investments: CECONY has proposed $645 million and O&R $184 million for extreme-weather resiliency projects from 2025–2029.
- Con Edison plans $72 billion in investments over the next decade to maintain system reliability and support electrification, including nine new substations by 2034 for Con Edison Company of New York and 13 new substations by Orange & Rockland Utilities within the same period , aligned with city and state clean-energy mandates.
- The utility expects to shift back from a summer-peaking to a winter-peaking system by the mid-2040s, driven by widespread electrification of heating and transportation.
- Climate resilience initiatives include $645 million over five years for Con Edison Company of New York and $184 million for Orange & Rockland Utilities in storm hardening and grid resiliency projects, approved by the New York PSC in December 2024.
- E-mobility programs have deployed over $1 billion in incentives (Power Ready, Smart Charge, Demonstration) to accelerate EV charging infrastructure, including 424 level 2 chargers in Flushing and 111 fast-charging plugs (24 at JFK Airport).
- Sustainability efforts feature a 98% reduction in SF₆ emissions since 1996 and ongoing R&D into SF₆-free breaker technologies to further cut greenhouse gases.
- Net income for Q2 2025 was $246 million (EPS $0.68), versus $202 million (EPS $0.58) in Q2 2024; adjusted earnings were $240 million (EPS $0.67 vs $0.59).
- For the six months ended June 30, 2025, net income was $1.038 billion (EPS $2.93) versus $922 million (EPS $2.67) in the prior year; adjusted earnings were $1.032 billion (EPS $2.91 vs $2.73).
- Con Edison reaffirmed its 2025 adjusted EPS guidance of $5.50–$5.70 per share.
- The company completed major transmission projects in Brooklyn and Staten Island and secured approval to invest $440 million in five building and transportation electrification projects.
- On March 24, 2025, the company entered into a 364-Day Revolving Credit Agreement to secure up to $500 million in loans, primarily to support its commercial paper program and general corporate purposes.
- The Credit Agreement provides loans at variable interest rates that reflect the company’s credit rating and includes detailed terms regarding default events and termination conditions.
- Corporate counsel confirms that all necessary corporate actions have been taken and the company remains in good standing under New York law.