Consolidated Edison, Inc. · NYSE:ED
Consolidated Edison — Investor Presentation (September 2024)
17 slides from Consolidated Edison's investor presentation, September 2024
Slide 1: Investor Presentation September 2024
Investor Presentation September 2024 1
Slide 2: Available Information and Forward-Looking Statements
Investor Relations Available Information On August 1, 2024, Consolidated Edison, Inc. issued a press release reporting its second quarter 2024 earnings and filed with the Securities and Exchange Commission the company’s second quarter 2024 Form 10-Q. This presentation should be read together with, a
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 1,520 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): $30.8 billion Ratings(b): Baa1 / A- / BBB+ 2024 Total Assets: $68 billion(a) Outlook(b): Stable / Stable / Stable Regulated Energy Delivery FERC Regulated Transmission Consolidated Edison Orange and Rockland Utilities, Inc. Company of New York, Con Edison Tran
Slide 5: Dividend Aristocrat and King
Dividend Aristocrat and King Fifty (50) consecutive years of dividend increases with a CAGR of 5.65% and a target payout of 55% to 65% of adjusted earnings (Non-GAAP) 5 5
Slide 6: Regulatory Environment
Regulatory Environment 6
Slide 7: Conducting Business in New York as a Regulated Entity
Conducting Business in New York as a Regulated Entity Con Edison’s regulated business model contributes to our success through predictability, and has allowed us to increase dividends for 50 consecutive years • Revenue predictability in place for all New York energy services – Revenue decoupling mec
Slide 8: New York State Public Service Commission
New York State Public Service Commission COMISSIONERS Rory Christian (D) Chair and CEO Term: Jun -2021 - Feb-2027 James Alesi (R) Uchenna Bright (D) John Maggiore (D) Denise Sheehan (R) David Valesky (I) Radina Valova (*) Term: Jun-2017 - Feb-2027 Term: Apr-2024 - Feb-2030 Term: Jun-2021 - Feb-2027
Slide 9: NYSPSC's Formulaic ROE Approach: Decisions 2010 – 2024 YTD
NYSPSC’s Formulaic ROE Approach: Decisions 2010 – 2024 YTD Year Month Company ROE Term Year Month Company ROE Term 2010 Mar CECONY Electric 10.15% 3 years 2017 Jan CECONY Electric and Gas 9.00% 3 years Jun Central Hudson Electric and Gas 10.00% 3 years Apr National Fuel Gas 8.70% 1 year Sep CECONY G
Slide 10: O&R Electric & Gas Rate Case Filing Comparison and Timeline
O&R Electric & Gas Rate Case Filing Comparison and Timeline Electric Gas ($ in millions) Case number 24-E-0060 Case number 24-G-0061 May 2024 May 2024 Rate Year 1: Jan 2025 - Dec 2025 Jan 2024 Filing Apr 2024 Update Staff/Intervenor Jan 2024 Filing Apr 2024 Update Staff/Intervenor Testimony Testimon
Slide 11: Anticipated NYSPSC Regulatory Calendar
Anticipated NYSPSC Regulatory Calendar Key Dates 2024 NYSPSC Open Session Schedule September 2024 Open Session September 19, 2024 October 2024 Open Session October 16, 2024 November 2024 Open Session November 14, 2024 December 2024 Open Session December 19, 2024 Pending Proceedings CECONY and O&R Cl
Slide 12: New York City Offshore Wind Public Policy Transmission Need
New York City Offshore Wind Public Policy Transmission Need 12
Slide 13: 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 achieving 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 Climate Leadership and Community
Slide 14: Developers Include CECONY's Brooklyn Clean Energy Hub as Primary Interconnection in 26 of 28 Proposals
Developers Include CECONY’s Brooklyn Clean Energy Hub as Primary Interconnection in 26 of 28 Proposals NYISO released a list of 28 total project proposals submitted by four developers in response to the New York City Public Policy Transmission (NYC PPTN) Need Solicitation. Ten proposals were submitt
Slide 15: CET / New York Transco Submits Proposals for the NYC PPTN
CET / New York Transco Submits Proposals for the NYC PPTN NY Transco, which CET is a member, submitted ten Energy Link NY electric transmission proposals to the NYISO in response to the NYISO’s NYC PPTN to deliver clean energy offshore wind energy to New York City Each NY Transco Energy Link NY prop
Slide 16: Tentative NYISO NYC PPTN Project Selection Timeline
Tentative NYISO NYC PPTN Project Selection Timeline Project selection is expected in the later half of 2025 with a targeted in-service date by 2033 JUN 22, 2023 JUN 17, 2024 JUN 25, 2024 END 3Q 2024 4Q 2024 2Q - 3Q 2025 JAN 1, 2033 NYISO released NYISO deadline for NYISO released a list NYISO expect
Slide 17: Investor Presentation September 2024
Investor Presentation September 2024 17
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