Consolidated Edison, Inc.
Stock Symbol: ED
4 Irving Place
Consolidated Edison, Inc. Industry:
Consolidated Edison, Inc. Description:
Consolidated Edison, Inc. is one of the nationís largest investor-owned energy companies, with approximately $10 billion in annual revenues and approximately $17 billion in assets. The company provides a wide range of energy-related products and services to its customers through its six subsidiaries: Consolidated Edison Company of New York, Inc., a regulated utility providing electric, gas and steam service to New York City and Westchester County, New York; Orange and Rockland Utilities, Inc., a regulated utility serving customers in a 1,350 square mile area in southeastern New York State, as well as adjacent sections of northern New Jersey and northeastern Pennsylvania; Con Edison Solutions, a retail energy services company; Con Edison Energy, a wholesale energy supply company; Con Edison Development, an infrastructure development company; and Con Edison Communications, a telecommunications infrastructure company.
Consolidated Edison, Inc. Financial Summary:
For the nine months ended 30 September 2005, Consolidated Edison, Inc.'s revenues increased 13% to $8.58B. Net income applicable to Common and from continuing operations increased 18% to $586M. Revenues reflect the continued strengthening of the local economy and Con Edison of New York's new gas and steam rate plan. Net income benefited from lower income tax and a decrease in other interest expenses.
Consolidated Edison, Inc. Business Summary:
Consolidated Edison, Inc. (Con Edison) is the holding company of Consolidated Edison Company of New York, Inc. (Con Edison of New York) and Orange and Rockland Utilities, Inc. (O&R), both of which are regulated utilities. Con Edison of New York provides electric service in all of New York City (except part of Queens) and most of Westchester County. It also provides gas service in Manhattan, the Bronx and parts of Queens and Westchester, and steam service in parts of Manhattan, New York. O&R, along with two subsidiaries, Rockland Electric Company, and Pike County Light & Power Company, provide electric service in southeastern New York, and in adjacent areas of northern New Jersey and eastern Pennsylvania. They also provide gas service in southeastern New York and adjacent areas of eastern Pennsylvania. Con Edison's business segments are Con Edison of New York, O&R and the unregulated businesses of Con Edison's other subsidiaries.