Consolidated Edison, Inc. · NYSE:ED
Consolidated Edison — Investor Presentation (May 2024)
25 slides from Consolidated Edison's investor presentation, May 2024
Slide 1: Investor Presentation May 2024
Investor Presentation May 2024 1
Slide 2: Investor Relations: Available Information and Forward-Looking Statements
Investor Relations Available Information On May 2, 2024, Consolidated Edison, Inc. issued a press release reporting its first quarter 2024 earnings and filed with the Securities and Exchange Commission the company’s first quarter 2024 Form 10-Q. This presentation should be read together with, and is
Slide 3: Company Highlights
Company Highlights • CECONY delivers electricity to approximately 3.7 million customers, gas to approximately 1.1 million customers and steam to approximately 1,525 customers • O&R delivers electricity to approximately 0.3 million customers and gas to over 0.1 million customers • CECONY operates the
Slide 4: Organizational Structure
Organizational Structure Market Cap(a): $31.4 billion Ratings(b): Baa1 / A- / BBB+ Outlook(b): Stable / Stable / Stable 2024 Total Assets: $67 billion(a) Regulated Energy Delivery FERC Regulated Transmission Consolidated Edison Orange and Rockland Utilities, Inc. Company of New York, Con Edison Tran
Slide 5: Con Edison is Pursuing a Path of Regulated Decarbonization
Con Edison is Pursuing a Path of Regulated Decarbonization 200 plus years as an evolving provider of electricity, natural gas and steam Urgency of climate change and extreme weather events dictate the next stage of our evolution We play a key role in New York State’s transition to a net-zero- emissi
Slide 6: Region's Clean Energy Vision
Region’s Clean Energy Vision Con Edison is a key partner in the region’s clean energy goals —working with customers, regulators, policymakers, and other stakeholders—in reimagining energy for the future. . 2025 •• New York State: 6 GW of solar New York City: 500 MW of energy 2035 • • New York State:
Slide 7: New York State's Ambitious Climate Agenda Calls for Significant Changes to Our System
New York State’s Ambitious Climate Agenda Calls for Significant Changes to Our System Source: Our Progress - New York's Climate Leadership & Community Protection Act (ny.gov) Our Progress - New York's Climate Leadership & Community Protection Act (ny.gov) 7 7 INTERNAL
Slide 8: Our Clean Energy Commitment
Our Clean Energy Commitment Our Clean Energy Commitment represents a blueprint for helping achieve the state’s climate and renewable energy goals Con Edison Clean Energy Commitment 8 8
Slide 9: Regulatory Updates
Regulatory Updates 9
Slide 10: New York State Public Service Commission
New York State Public Service Commission COMISSIONERS Rory Christian (D) Chair and CEO Term: Jun -2021 - Feb-2027 James Alesi (R) Uchenna Bright (D) John Maggiore (D) Denise Sheehan (R) David Valesky (*) Open seat Term: Jun-2017 - Feb-2027 Term: Apr-2024 - Feb-2030 Term: Jun-2021 - Feb-2027 Term: Ap
Slide 11: NYSPSC's Formulaic ROE Approach: Decisions 2010 – 2024 YTD
NYSPSC’s Formulaic ROE Approach: Decisions 2010 – 2024 YTD Year Month Company ROE Term Year Month Company ROE Term 2010 Mar CECONY Electric 10.15% 3 years 2017 Jan CECONY Electric and Gas 9.00% 3 years Jun Central Hudson Electric and Gas 10.00% 3 years Apr National Fuel Gas 8.70% 1 year Sep CECONY G
Slide 12: Summary of O&R Electric & Gas Rate Proposals
Summary of O&R Electric & Gas Rate Proposals On April 5, 2024, O&R filed an update to the January 26, 2024 proposal to the NYSPSC in support of new electric and gas rates to become effective January 1, 2025 Proposed Return on Equity and Equity Ratio Return on equity……………..10.25% Equity ratio……………………
Slide 13: Projected Timeline for O&R Rate Case
Projected Timeline for O&R Rate Case JUN 25, JUN JUN25, 25, JUN 25, JAN 2024 2024 2024 JUN 25, 2024 2025 2024 JAN 26, APR 5, MAY 24, JUN 10, JUN 25, AUG SEPT OCT NOV DEC JAN 1, 2024 2024 2024 2024 2024 2024 2024 2024 2024 2024 2025 Filed with Company Staff/ Rebuttal Evidentiary Initial Final Rate Re
Slide 14: Investment Efforts Supporting Clean Energy Transition
Investment Efforts Supporting Clean Energy Transition 14
Slide 15: Preparing for Future Electric Peak Demand Growth
Preparing for Future Electric Peak Demand Growth From 2023 to 2043 we anticipate CECONY’s peak demand to increase by up to 91%; the degree depends on the timing and extent of technology, policy, and customer adoption 1-5% low-to-zero carbon gaseous-fueled vehicles CECONY and O&R 2043 Projections: •
Slide 16: Approved Investments to Meet Climate Goals
Approved Investments to Meet Climate Goals • $780 million Reliable Clean City transmission infrastructure project under development to deliver renewable energy and facilitate the retirement of fossil peaker generating units • $810 million Brooklyn Clean Energy Hub under development to address local
Slide 17: Meeting Growing Demand
Meeting Growing Demand New Distribution Substations and Transmission Stations Planned (CECONY) Distribution Substations 1. Brooklyn, Gateway Park, 2028 2. Queens, Idlewild Area Station, 2028 Transmission Stations 1. Brooklyn, Vinegar Hill + Plymouth St., 2025 2. Brooklyn, Brooklyn Clean Energy Hub,
Slide 18: Supporting New York State's Offshore Wind Goals
Supporting New York State’s Offshore Wind Goals Meeting New York State’s ambitious climate goal of getting to 100% clean electricity by 2040 requires developing at least 9,000 megawatts (MW) of offshore wind power by 2035 • NYSPSC’s June 2023 order (a) identifies the CLCPA as a public policy require
Slide 19: Increasing Offshore Wind Capacity through Potential Clean Energy Hubs
Increasing Offshore Wind Capacity through Potential Clean Energy Hubs New York City Public Policy Transmission Need Offshore Potential Interconnection Expandable Wind Potential Clean Energy Hubs Point To Capacity Brooklyn Clean Energy 1,500 MW 6,000 MW Hub Astoria Clean Energy Hub 1,500 MW 3,000 MW
Slide 20: Reimagine the Gas System
Reimagine the Gas System 20
Slide 21: Leading a Safe, Environmentally Sound, and Resilient Gas System
Leading a Safe, Environmentally Sound, and Resilient Gas System Our industry-leading efforts emphasize and concentrate on public safety and have reduced emissions from the system dramatically over time • First utility in the nation to utilize smart meter network and detectors for monitoring natural
Slide 22: New York Greenhouse Gas Emissions Reduction Laws
New York Greenhouse Gas Emissions Reduction Laws • NYC Local Law 97: Energy efficiency and greenhouse gas emissions limits for City’s largest buildings beginning in 2024 • NYC Local Law 154: Bans use of fossil fuels for new small buildings* beginning in 2024 and for new large buildings by 2027 • Pla
Slide 23: Developing a Long-term Gas Strategy
Developing a Long-term Gas Strategy Enable a cost-effective clean energy transition by reducing gas sales volumes and supporting low-carbon fuels. Maintain safety, Advocate for reliability, and Prepare customers Facilitate supply Focus on for clean energy practical policy resilience of transformatio
Slide 24: Transform Gas Demand and Supply
Transform Gas Demand and Supply Hybrid Pathway – Total System Throughput and Gas Deep Electrification Pathway – Total System Throughput and Gas Composition (2023 – 2043) Composition (2023 – 2043) • Forecasted ~42% decrease in delivered gas volumes by • Contemplates ~95% reduction in gas system footp
Slide 25: Investor Presentation May 2024
Investor Presentation May 2024 25
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