Con Edison invests approximately $2.3B to support NYC, Westchester infrastructure reliability during summer – Daily Energy Insider

Published on May 30, 2024 by Dave Kovaleski

Con Edison has invested $2.3 billion on various infrastructure projects in New York City and Westchester County to keep service reliable during the summer.

The projects include the installation of new substation equipment, 28 underground and 69 overhead transformers that regulate voltage, 938 sections of underground and overhead cable, and 241 poles. The company is building an electric delivery system capable of delivering clean energy from solar arrays, wind turbines and other renewable resources to support New York State’s climate goals.

Further, the company is investing in energy efficiency programs, new substations, transmission lines to carry renewable energy, incentives for electric vehicle chargers, and other measures to usher in a clean energy future.

“These critical infrastructure projects support New York’s transition away from fossil fuels and improve the reliability of our grid by helping us meet the increased demand for power as buildings and vehicles become electrified,” Matthew Ketschke, the president of Con Edison, said. “Our investments provide value for every customer and ensure that our grid remains resilient and reliable in the face of extreme weather such as heat waves and storms, which are becoming more frequent and intense due to climate change.”

The company forecasts that the demand for power will peak at 12,800 megawatts this summer. Last year’s peak was 11,565 megawatts, which occurred on July 27, 2023. The all-time record is 13,322 megawatts, which occurred during a heat wave on July 19, 2013.

Also, the company expects bills to be higher than they were last summer. One driver of this is an increase in base delivery rates approved by the New York State Public Service Commission in July 2023. Another is a provision that allows the company to collect revenue to make up for a prior period when the company did not collect as much as expected to support investments.

Thus, a typical New York City residential customer using 350 kilowatt hours per month can expect a 10.9 percent increase from last summer and an average monthly bill of $141.06 from June to September 2024.

In addition, a typical Westchester residential customer using 500 kilowatt hours per month can expect a 12.1 percent increase and an average monthly bill of $172.05 during the summer months.

A typical New York City small business customer using 583 kilowatt hours per month can expect a 7 percent increase and an average monthly bill of $247.02. Meanwhile, a typical New York City commercial customer using 10,800 kilowatt hours per month with a peak demand of 30 kilowatts can expect a 2.9 percent increase and an average monthly bill of $3,077.42.