Consolidated Edison, Inc. (ED) Consolidated Edison Clean Energy Webinar (Transcript)

Consolidated Edison, Inc. Clean Energy Webinar Summary Company Overview - Consolidated Edison, Inc. (NYSE:ED) is one of the largest investor-owned utilities in the U.S., providing electric, gas, and steam services to millions in New York and surrounding areas [5][6][7] - The company operates the largest steam system in the U.S. and has been continuously traded on the New York Stock Exchange for over 200 years [5] Core Strategies and Goals - Con Edison is focused on achieving a clean energy future in alignment with New York State's Climate Leadership and Community Protection Act (CLCPA), which mandates a 40% reduction in emissions by 2030 and net-zero emissions by 2050 [17][18] - The company emphasizes operational excellence, safety, and customer trust, with a commitment to diversity, equity, and inclusion [6][7] Reliability and Infrastructure - Con Edison is ranked as the most reliable energy company in the U.S., with its electric delivery system being nine times more reliable than the national average [8] - The company plans to invest approximately $28 billion in infrastructure over the next five years to support the clean energy transition and enhance reliability [72] Clean Energy Commitment - The clean energy commitment includes five main pillars: building a future-ready grid, empowering customers, reimagining the gas system, reducing the company's carbon footprint, and partnering with stakeholders for equitable benefits [14][15] - Investments will focus on renewable energy sources, energy storage solutions, and electrification of heating and transportation [12][14] Climate Change Mitigation - Con Edison is actively working on climate resilience, with a planned investment of $1.3 billion over the next five years to fortify the grid against climate impacts [36][38] - The company is also focused on decarbonizing its steam production and aims for zero direct greenhouse gas emissions from its operations by 2050 [55][56] Customer Engagement and Electrification - The company supports the installation of electric vehicle (EV) charging infrastructure and has budgeted over $800 million for infrastructure incentives [43] - Con Edison has seen significant customer adoption of clean energy alternatives, with projections indicating that 90% of vehicles could be electric by 2035 [41][42] Financial Health and Investment - Con Edison maintains a strong financial foundation, with no long-term parent company debt and a consistent record of dividend increases for 50 consecutive years [70][72] - The company is committed to transparent financial practices and aims to attract capital for ongoing investments in clean energy and infrastructure [68][70] Community and Stakeholder Engagement - Con Edison is dedicated to ensuring that disadvantaged communities benefit from the clean energy transition, with a goal of 35% to 40% of benefits accruing to these communities [18][65] - The company has invested in training programs for diverse students to prepare them for careers in the clean energy sector [62] Conclusion - Con Edison is positioned as a leader in the transition to a clean energy future, with a comprehensive strategy that encompasses reliability, customer engagement, climate resilience, and community involvement [75][77]