There have been a lot of competitors rising up in recent years-- I know, because they call me even though I am on the "Do Not Call"list which I believe also covers people like them.
Oh yes, shown above is the wonderful clock tower of their HQ building on East Fourteenth Street in Manhattan...
Let's see what we can find out about Con Ed-- you know, it never even occurred to do any research about it really until today when I was looking at the clock tower!
Well, not as much on Wikipedia as I would have liked, but you will get the idea
From Wikipedia, the free encyclopedia
- "ConEd" redirects here. It is not to be confused with ComEd (Commonwealth Edison) in Illinois.
 |
|
| Type | Public |
|---|---|
| Traded as | NYSE: ED S&P 500 Component |
| Industry | Energy |
| Founded | 1823 (as New York Gas Light Company) |
| Headquarters | 4 Irving Place, New York City, New York, U.S. |
| Area served | New York metropolitan area |
| Key people | Kevin Burke |
| Services | Electricity, Gas, and Steam |
| Revenue |  $13.32 billion (2010) |
| Operating income | $2.12 billion (2010) |
| Total assets | $36.14 billion (2010) |
| Employees | 15,180 (2010) |
| Website | www.coned.com |
- Consolidated Edison Company of New York, Inc., a regulated utility providing electric, gas, and steam service in New York City and Westchester County, New York;
- Orange and Rockland Utilities, Inc., a regulated utility serving customers in a 1,350-square-mile (3,500 km2) area in southeastern New York and adjacent sections of northern New Jersey and northeastern Pennsylvania;
- Con Edison Solutions, a retail energy supply and services company;
- Con Edison Energy, a wholesale energy supply company; and
- Con Edison Development, a company that owns and operates generating plants and participates in other infrastructure projects.
History
In 1823, Con Edison’s earliest corporate predecessor, the New York Gas Light Company, was founded by a consortium of New York City investors. A year later, it was listed on the New York Stock Exchange. In 1884, six gas companies combined into the Consolidated Gas Company.
Con Edison’s electric business also dates back to 1882, when Thomas Edison’s Edison Illuminating Company of New York began supplying electricity to 59 customers in a square-mile area in lower Manhattan. After the “War of Currents”, there were more than 30 companies generating and distributing electricity in New York City and Westchester County. But by 1920 there were far fewer, and the New York Edison Company (then part of Consolidated Gas) was clearly the leader.
In 1936, with electric sales far outstripping gas sales, the company incorporated and the name was changed to Consolidated Edison Company of New York, Inc. The years that followed brought further amalgamations as Consolidated Edison acquired or merged with more than a dozen companies between 1936 and 1960. Con Edison today is the result of acquisitions, dissolutions and mergers of more than 170 individual electric, gas and steam companies.
On January 1, 1998, following the deregulation of the utility industry in New York state, a holding company, Consolidated Edison, Inc., was formed. It is one of the nation’s largest investor-owned energy companies, with approximately $14 billion in annual revenues and $33 billion in assets. The company provides a wide range of energy-related products and services to its customers through two regulated utility subsidiaries and three competitive energy businesses. Under a number of corporate names, the company has been traded on the NYSE without interruption since 1824—longer than any other NYSE stock. Its largest subsidiary, Consolidated Edison Company of New York, Inc. provides electric, gas and steam service to more than 3 million customers in New York City and Westchester County, New York, an area of 660 square miles (1,700 km2) with a population of nearly 9 million.
Systems
ElectricalThe Con Edison electrical transmission system utilizes voltages of 138,000 volts, 345,000 volts and 500,000 volts. The company has two 345 kV interconnections with upstate New York that enable it to import power from Hydro-Québec in Canada and one 345 kV interconnection each with Public Service Electric and Gas in New Jersey and LIPA on Long Island. Con Edison is also interconnected with Public Service Electric and Gas via the Branchburg-Ramapo 500,000 volt line. Con Ed's distribution voltages are 33,000, 27,000 and 13,800 volts.
The 93,000 miles (150,000 km) of underground cable in the Con Edison system could wrap around the Earth 3.6 times. Nearly 36,000 miles (58,000 km) of overhead electric wires complement the underground system—enough cable to stretch between New York and Los Angeles 13 times.[2]
Gas
The Con Edison gas system has nearly 7,200 miles (11,600 km) of pipes—if laid end to end, long enough to reach Paris and back to New York City, and serves Westchester County, the Bronx, and Manhattan. Gas service in the other boroughs is provided by National Grid USA. The average volume of gas that travels through Con Edison’s gas system annually could fill the Empire State Building nearly 6,100 times.[3]
Steam
Main article: New York City steam system
Con Edison produces 30 billion pounds of steam each year through its
seven power plants which boil water to 1,000 °F (538 °C) before pumping
it to hundreds of buildings in the New York City steam system, which is the biggest district steam system in the world.[4] Steam traveling through the system is used to heat and cool some of New York’s most famous addresses, including the United Nations complex, the Empire State Building, and the Metropolitan Museum of Art.[5]Headquarters
Warren & Wetmore's 26-story tower—topped by a "Tower of Light" designed to look like a miniature temple and capped by a bronze lantern which lights up at night[6]—was added between 1926 and 1929.
Major accidents
- 1989: A steam pipe explosion in Gramercy Park killed three, injured 24 and required the evacuation of a damaged apartment building due to high levels of asbestos in the air. Workers had failed to drain water from the pipe before turning the steam on. The utility also eventually pleaded guilty to lying about the absence of asbestos contamination, and paid a $2 million fine.[9]
- 2004: In Manhattan, stray voltage killed a woman walking her dog in the East Village when she stepped on an electrified metal plate.[10]
- 2007: On July 18 an explosion occurred in midtown Manhattan near Grand Central Terminal when an 83-year-old Con Edison steam pipe failed, resulting in one death, over 40 injuries, as well as subway and surface disruptions.[11]
- 2007: The day before Thanksgiving, an explosion critically burned Queens resident Kunta Oza when an 80-year-old cast iron gas main ruptured. Oza died on Thanksgiving Day, and her family later settled with Con Edison for $3.75 million.[12]
- 2009: Another gas explosion claimed a life in Queens while Con Edison personnel were on the scene. There was a leak in a manhole and a fault in an electrical feeder at the same time. The fault in the feeder caused the explosion due to the sparks being generated. When the mechanic opened the manhole more oxygen entered and the explosion took place.[citation needed] Due to that event Con Edison has changed its procedure on outside gas leak calls.[13]
- 2012: On October 29, flooding from Hurricane Sandy caused a transformer explosion at a Con-Ed plant on New York City's East Side. [14][15]
Corporate leadership
- Kevin Burke, Chairman and Chief Executive Officer
- Craig S. Ivey, President
- Robert Hoglund, Senior Vice President and Chief Financial Officer
- Carole Sobin, Secretary
- Robert Muccilo, Vice President, Controller and Chief Accounting Officer
- Scott L. Sanders, Vice President and Treasurer
- Elizabeth D. Moore, General Counsel
Miscellany
- A former Con Edison building on 48th Street in Manhattan was converted first into the studio for the television game show Let's Make a Deal, and later into a recording studio called “The Power Station” because of its Edison history. In 1996, the studio was renamed Avatar Studios.
Awards and criticism
In March 2002, Fortune magazine named the company as one of "America's Most Admired Companies" in the publication's newest corporate ranking survey. Con Edison ranked second on the top ten list for electric and gas utilities.[16]In December 2011, the non-partisan organization Public Campaign released a report criticizing ConEd for spending $1.8 million on lobbying and not paying any taxes during 2008–2010, instead getting $127 million in tax rebates, despite making a profit of $4.2 billion, and increasing executive pay by 82% to $17.4 million in 2010 for its top five executives.[17]
Con Edison's subsidiary, Orange & Rockland Utilities, was criticized for its response to Hurricane Sandy in October 2012. Some customers experienced a loss of electrical power for 11 days.[18]
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