Consolidated Edison, Inc. · NYSE:ED
Consolidated Edison — Investor Presentation (May 2025)
15 slides from Consolidated Edison's investor presentation, May 2025
Slide 1: Investor Presentation May 2025
Investor Presentation May 2025 1
Slide 2: Available Information and Forward-Looking Statements
Investor Relations Available Information On May 1, 2025, Consolidated Edison, Inc. issued a press release reporting its first quarter 2025 earnings and filed with the Securities and Exchange Commission the company’s first quarter 2025 Form 10-Q. This presentation should be read together with, and is
Slide 3: Organizational Structure
Organizational Structure Market Cap(a): $39.0 billion Issuer Ratings(b): Baa1 / A- / BBB+ 2025 Total Assets: $71 billion(a) Outlook(b): Stable / Stable / Stable Regulated Energy Delivery FERC Regulated Transmission Orange and Rockland Consolidated Edison Utilities, Inc. Company of New York, (O&R) Co
Slide 4: We Deliver Electricity, Gas and Steam
We Deliver Electricity, Gas and Steam • CECONY delivers electricity to approximately 3.7 million customers, gas to approximately 1.1 million customers and steam to approximately 1,500 customers • O&R delivers electricity to approximately 0.3 million customers and gas to over 0.1 million customers •
Slide 5: Setting Industry Standards for Safety, Operational Excellence and the Customer Experience
Setting Industry Standards for Safety, Operational Excellence and the Customer Experience World Class Reliability Resilient Build and • CECONY's service is about 9 times Safety Customer Focused more reliable than the Design U.S. average • ~72% of CECONY's electric • CECONY pioneered state of the • C
Slide 6: Regulatory Updates
Regulatory Updates 6
Slide 7: Utility Regulation in New York State
Utility Regulation in New York State • Revenue predictability ◦ Revenue decoupling mechanism in place for CECONY and O&R New York electric and gas ◦ Weather normalization clause in place for CECONY gas and steam and O&R New York gas • Formulaic approach to return on equity (ROE)(a) ◦ 2/3 Discounted
Slide 8: Rate Case Filing Status
Rate Case Filing Status The Company filed new rate plans for CECONY Electric and Gas in January 2025, and filed updates to the initial requests in April 2025 Rate Base(a) Current Plan Current Plan Regulator Status ($ millions) Start Date End Date New York State Public Service Electric $29,614 Jan 20
Slide 9: New York State Public Service Commission
New York State Public Service Commission Commissioners Rory Christian (D) Chair and CEO Term ends: Feb-2027 Appointed: Jun-2021 James Alesi (R) David Valesky (I) John Maggiore (D) Uchenna Bright (D) Denise Sheehan (R) Radina Valova (U) Term ends: Term ends: Term ends: Term ends: Term ends: Term ends
Slide 10: New York State's Return on Equity Formula
New York State’s Return on Equity Formula The NYSPSC has a formulaic approach to determining ROE for every utility in the state Discounted Cash Flow Model (2/3 weighting) • The Staff employs a dividend discount model for the proxy group and takes the average result D1 D2 D3 D200 Value = (1+R) + (1+R
Slide 11: NYSPSC's ROE Decisions from 2009-2025 YTD
NYSPSC’s ROE Decisions from 2009 -2025 YTD Year Month Company ROE Term Year Month Company ROE Term 2009 Apr CECONY Electric 10.00% 1 year 2016 Jun RGE / NYSEG 9.00% 3 years Dec KeySpan Gas 9.00% 3 years May Niagara Mohawk Gas 10.20% 2 year 2017 Jan CECONY Electric and Gas 9.00% 3 years Jun Central H
Slide 12: Gas System Long-Term Plan
Gas System Long-Term Plan 12
Slide 13: Utilities' Gas System Long-Term Plan
Utilities’ Gas System Long-Term Plan In January 2025, CECONY and O&R submitted the first set of Gas System Long-term Plan deliverables required by the New York State Public Service Commission(a) Filing Date/ Expected Topic Deliverable Filing Date* • Gas Demand Response Program Filed a proposal for a
Slide 14: Maintaining High Standards for a Safe and Reliable Gas System
Maintaining High Standards for a Safe and Reliable Gas System Con Edison is committed to maintaining high standards of safety and efficiency in gas leak response and repair, utilizing advanced technology and proactive measures • CECONY and O&R are installing nation leading Natural Gas Detectors (NGD
Slide 15: Investor Presentation May 2025
Investor Presentation May 2025 15
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