Consolidated Edison, Inc. · NYSE:ED
Consolidated Edison — Investor Presentation (January 2025)
16 slides from Consolidated Edison's investor presentation, January 2025
Slide 1: January 2025 Investor Update
January 2025 Investor Update INTERNAL
Slide 2: Available Information and Forward-Looking Statements
Investor Relations Available Information On November 7, 2024, Consolidated Edison, Inc. issued a press release reporting its third quarter 2024 earnings and filed with the Securities and Exchange Commission the company’s third quarter 2024 Form 10-Q. This presentation should be read together with, a
Slide 3: Organizational Structure
Organizational Structure Market Cap(a): $36.0 billion Ratings(b): Baa1 / A- / BBB+ 2024 Total Assets: $69 billion(a) Outlook(b): Stable / Stable / Stable Regulated Energy Delivery FERC Regulated Transmission Consolidated Edison Orange and Rockland Utilities, Inc. Company of New York, Con Edison Tran
Slide 4: Rate Case Filings Status
Rate Case Filings Status Rate Base(a) Current Plan Current Plan Regulator Status ($ millions) Start Date End Date New York State Public Service Electric $29,362 Jan 2023 Dec 2025 Commission Joint Proposal (JP) (NYSPSC) approved CECONY July 2023 Gas NYSPSC 11,063 Jan 2023 Dec 2025 JP approved Steam N
Slide 5: Summary of O&R Electric & Gas Joint Proposal
Summary of O&R Electric & Gas Joint Proposal In November 2024, O&R, the New York State Department of Public Service and other parties entered into a joint proposal for new electric and gas rate plans for the three-year period January 2025 through December 2027 (the Joint Proposal). The Joint Proposa
Slide 6: O&R Electric & Gas Rate Case Filing Comparison
O&R Electric & Gas Rate Case Filing Comparison(a) Electric Gas ($ in millions) Case number 24-E-0060 Case number 24-G-0061 Jan 2024 Apr 2024 May 2024 Nov 2024 Jan 2024 Apr 2024 May 2024 Nov 2024 Rate Year 1: Jan 2025 - Dec 2025 Filing Update Staff/Intervenor Joint Proposal Filing Update Staff/Interv
Slide 7: Average Rate Base Balances
Average Rate Base Balances ($ in millions) O&R CECONY Actual Forecast 2019 2020 2021 2022 2023 2024E 2025E 2026E 2027E 2028E (a) Electric $21,149 $22,101 $23,614 $24,753 $26,680 $27,923 $29,362 $31,238 $33,301 $36,280 CECONY Gas (a) 6,408 7,110 8,008 8,924 9,692 10,428 11,061 12,008 12,827 13,828 St
Slide 8: Financing Activity in 2024
Financing Activity in 2024 Credit Facilities ($ in millions) Entity Amount Description Con Edison, CECONY and $2,500 In March, the termination date of the companies' $2,500 million revolving credit agreement was O&R extended from March 2028 to March 2029. CECONY $500 In March, CECONY entered into a
Slide 9: Financing Activity in 2024 (continued)
Financing Activity in 2024 (continued) Equity Forward • In December 2024, Con Edison consummated the public offering of 7 million of its common shares at $96.66 per share under an equity forward sales agreement (a) • Settlement of the forward sale agreement is expected to occur by December 31, 2025
Slide 10: NYSPSC & NYISO Proceedings and Developments
NYSPSC & NYISO Proceedings and Developments • In July 2024, Department of Public Service Staff and New York State Energy Research and Development Agency issued(a) a draft Climate Leadership & biennial review of the NYSPSC’s Clean Energy Standard (CES) program, which seeks to reduce the environmental
Slide 11: NYSPSC & NYISO Proceedings and Developments (continued)
NYSPSC & NYISO Proceedings and Developments (continued) Proactive Planning • In August 2024, the NYSPSC commenced a proceeding(a) to proactively identify and develop grid upgrades to meet new demand from transportation and building heating electrification across the State. The new proceeding will in
Slide 12: Proactive Planning for Upgraded Electric Grid Infrastructure
Proactive Planning for Upgraded Electric Grid Infrastructure On August 15, 2024, the NYSPSC directed the Joint Utilities to propose a framework for proactive planning to support transportation and building electrification • The NYSPSC directed each utility to propose by November 13, 2024 urgent infr
Slide 13: CECONY's Urgent Project Proposals Spending Summary
CECONY’s Urgent Project Proposals Spending Summary CECONY’s filing has an estimated cost of approximately $850 million from 2025-2035 Total Capital Request ($ millions) Infrastructure Project/Program Overall 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 Type Name Estimate Zerega Avenue $26
Slide 14: Future Electric Vehicle Charging Hotspots Require Near-term Investments
Future Electric Vehicle Charging Hotspots Require Near-term Investments As part of the November 2024 Proactive Planning Proceeding, filing CECONY identified a total of 14 initial electric vehicle (EV) hotspots with 4 requiring urgent near-term investments • CECONY identified key strategic locations
Slide 15: Local Laws Expected to Drive Increased Requests to Proactively Plan for Electric Heating
Local Laws are Expected to Drive Increased Requests to Proactively Plan for Electric Heating Con Edison’s urgent funding request addresses the need to support expected new loads driven by electrification of heating The map shown indicates areas where increased customer requests for electric heating
Slide 16: INTERNAL
January 2025 Investor Update INTERNAL
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