54-730: Consolidated Edison, Inc. , commonly known as Con Edison (stylized as conEdison ) or ConEd , is one of the largest investor-owned energy companies in the United States, with approximately $ 12 billion in annual revenues as of 2017, and over $ 62 billion in assets. The company provides a wide range of energy-related products and services to its customers through its subsidiaries: In 2015, electric revenues accounted for 70.35% of consolidated sales (70.55% in 2014); gas revenues 13.61% (14.96% in 2014); steam revenues 5.01% (4.86% in 2014); and non-utility revenues of 11.02% (9.63% in 2014). In March 1823, Con Edison's earliest corporate predecessor,
108-549: A 1-square-mile (2.6 km) area in lower Manhattan. After the " war of currents ", more than 30 companies were generating and distributing electricity in New York City and Westchester County. But by 1920 there were far fewer, and Consolidated Gas's electricity arm, now called the New York Edison Company, was the leader. In 1936, with electric sales far outstripping gas sales, the company incorporated and
162-743: A Deal , and later into a recording studio called "Power Station" because of its Edison history. In 1996, the studio was renamed Avatar Studios and then in 2017 back to "Power Station". In 1978, Con Edison sold the Excelsior Power Company Building , a former substation on Gold Street in Manhattan's Financial District . It was renovated into an apartment building, and became a New York City designated landmark in 2016. Investor-owned utility Investor-owned utilities ( IOUs ) are private enterprises acting as public utilities . This business-related article
216-586: A dozen companies between 1936 and 1960. Con Edison today is the result of acquisitions , dissolutions , and mergers of more than 170 individual electric , gas , and steam companies. Consolidated Edison acquired land on the Hudson River in Buchanan, NY, in 1954 for the Indian Point nuclear power plant. The first reactor (Indian Point 1) began generating power on September 16, 1962. The reactor
270-568: A population of nearly 9 million. Also in 1998, Consolidated Edison, Inc. acquired Orange & Rockland Utilities, which is operated separately. Con Edison had invested $ 3 billion in solar and wind projects. In September 2017 it was announced that the company would invest $ 1.25 billion in "renewable energy production facilities over the next three years." The company's "renewable portfolio" contained more than 1.5 gigawatts of operating capacity. Seventy-five percent of that capacity came from solar energy. Clean energy accounted for around eight percent of
324-505: A profit of $ 4.2 billion, and increasing executive pay by 82% to $ 17.4 million in 2010 for its top five executives. ● In 2014, Con Edison was named the #1 utility and #16 overall among corporations, in Newsweek ' s Green Rankings, and one of the 50 best companies for Latinas by Latina Style Magazine . In its "Best of the Best" issue in 2015, Hispanic Network Magazine named the company
378-541: A reported nonfunctioning or malfunctioning street light, traffic light or pedestrian Walk/Don't Walk light because of a failure in the power to the affected unit, a stop tag is assigned by Con Ed . When a caller to NYC's 311 asks for followup information about a reported outage, they're told the stop tag number, and told to call Con Ed at 800-752-6633 (800-75-CON-ED). The New York Times wrote that it can take over two years for some repairs. Sometimes an entire fixture must be removed, repaired, then returned. Other times
432-443: A result of the assets swap with RAG AG , RWE gave away its stake in the power company STEAG . It received almost full control of the renewable energy company Harpen AG. The full control of Harpen was achieved in 2005. In 2003, RWE also achieved full control over Thyssengas. In the same year, it decided to divest its American coal company Consol Energy . In 2011, RWE unbundled its transmission system by selling its majority stake in
486-482: A separate company named Innogy , which is listed at the Frankfurt Stock Exchange . The new entity combined RWE subsidiaries RWE Innogy, RWE Deutschland, RWE Effizienz, RWE Vertrieb and RWE Energiedienstleistungen. In March 2018, it was announced that E.ON will acquire Innogy in a complex €43 billion deal of assets swap with RWE. As a result, RWE will take a 16.7% stake in E.ON. Following
540-709: A shareholder in RWE. In 1929, municipalities and the Rhine Province combined their shareholdings into a holding company Kommunale Aufnahmegruppe für Aktien GmbH. In 1920, RWE acquired Niedersächsische Kraftwerke AG, located in Osnabrück . In 1922, it expanded its coal business by acquiring three anthracite mines in Essen and a majority stake in the lignite company Braunkohlen- und Briketwerke Roddergrube AG. In 1923, it acquired its founder company EAG. Three years later,
594-580: A source of important findings which supported the design and operation of commercial nuclear reactors. RWE's nuclear operations started in 1961, when RWE and Bayernwerk (now part of E.ON ) started to build the first German industrial nuclear reactor—the Kahl Nuclear Power Plant . In 1962, they started to build the Gundremmingen Nuclear Power Plant. In 1965, at the request of the surrounding municipalities,
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#1732780117828648-475: A subsidiary of Thames Water. In 2006, RWE sold Thames Water to Kemble Water Limited, a consortium led by Macquarie Group . RWE previously owned American Water , the United States' largest investor-owned water utility, but this was divested in 2008. In 2002, RWE acquired the British electricity and gas utility company Innogy for £3 billion (US$ 4.3 billion). Innogy was subsequently renamed RWE npower plc. As
702-493: A top employer among energy, gas, and oil companies. Con Edison was also selected as one of the top regional utilities by DiversityInc magazine in 2014. In 2016, the company was listed among America's best large employers by Forbes . ● In February 2021, The Energy and Policy Institute criticized Con Edison for touting clean energy while investing in Gas Infrastructure. This is unclean fracked gas. (Fracked gas
756-587: A wide range of energy-related products and services to its customers through two regulated utility subsidiaries and three competitive energy businesses. Under several corporate names, the company has been traded on the NYSE without interruption since 1824—longer than any other NYSE stock. Its largest subsidiary, Consolidated Edison Company of New York, Inc., provides electric, gas, and steam service to more than 3 million customers in New York City and Westchester County, New York, an area of 660 square miles (1,700 km) with
810-617: A €2.6 billion compensation payment to RWE to phase out lignite in the Rhine region. No details of the deal, or its timing, have been released. RWE operates in Asia-Pacific, Europe and the United States. The group is organized around four core areas: In addition to these core areas, there is a Coal/Nuclear segment. In the UK, RWE fully owns RWE Generation UK plc., which operates a number of natural gas and renewable energy power stations across
864-516: Is a stub . You can help Misplaced Pages by expanding it . RWE Europe RWE AG is a German multinational energy company headquartered in Essen . It generates and trades electricity in the Asia-Pacific region, Europe and the United States. In July 2020, RWE completed a far-reaching asset swap deal with E.ON first announced in 2018, whereby the international renewable generation portfolio of E.ON and Innogy were transferred to RWE. The company
918-614: Is around 2 million m of crude oil (about 365,000 BOE ) ) and 3 billion m of natural gas (about 18 million BOE, 49,300 BOE) a day. In March 2015, RWE closed the sale of RWE Dea to a group led by Russian billionaire Mikhail Fridman despite opposition from UK regulators. The $ 5.6 billion deal, announced in 2014, required approval from 14 countries where RWE Dea operates in Europe, the Middle East and Africa. On 1 April 2016, RWE transferred its renewable, network and retail businesses into
972-463: Is methane gas produced by hydraulic fracturing .) The article explained, "A recent analysis of utility executive compensation by the Energy and Policy Institute found that Con Edison’s executive compensation policies include renewable energy growth as components of broader goals, but do not reward executives for reducing greenhouse gas emissions. When a New York City contractor is unable to repair
1026-526: Is threatened by the planned expansion of one of the group's coal mines . RWE also operates some of the largest coal-fired power stations in Europe. In 2018, RWE was the largest producer of carbon dioxide emissions in Europe. Since 2012, environmentalists have protested against RWE because of the Hambach surface mine situated in the area of Hambach Forest . In November 2017, in the lawsuit filed by Bund für Umwelt und Naturschutz Deutschland (BUND),
1080-669: Is via a series of transmission lines owned by the New York Power Authority and neighboring utilities; a more direct connection via the Champlain Hudson Power Express HVDC line is expected to come online in 2025. Con Edison is also interconnected with PSE&G via the Branchburg-Ramapo 500 kV line. Con Ed's distribution voltages are 33 kV, 27 kV, 13 kV, and 4 kV. The 93,000 miles (150,000 km) of underground cable in
1134-560: The Frimmersdorf Power Plant . On 1 May 1933, the executive board including Ernst Henke joined the NSDAP as a unified body. Since autumn 1943, the Essen state police had been investigating Wilhelm Ricken, RWE's technical director and designated general director, for "subversion of the military". The then First Mayor of Essen, Just Dillgardt, who was also second chairman of RWE's supervisory board, had reported Ricken to
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#17327801178281188-531: The Intrepid Sea, Air & Space Museum . ConEd Solutions is a member of Real Estate Board of New York . On January 14, 2009, eleven Con Edison supervisors were arrested for demanding more than $ 1 million in kickbacks related to work done by a construction company that was repairing the Midtown steam pipe eruption of 2007. According to federal prosecutors, the employees had approved payment for work that
1242-668: The New York City steam system , which is the biggest district steam system in the world. Steam traveling through the system is used to heat and cool some of New York's most famous addresses, including the United Nations complex , the Empire State Building , and the Metropolitan Museum of Art . The Smart Meter Project was awarded to Aclara Smart Grid Solutions (electric) and the majority of
1296-530: The Urenco Group with E.ON . The remaining stakes are held by the British and Dutch governments, with one-third each. In 2019, RWE produced a total of 153.2 TWh of electricity from the following sources: 33.2% natural gas , 32% lignite , 13.8% nuclear power , 10.7% renewables , 9.3% hard coal and 1.2% pumped storage . In 2019, the company generated 88.1 Mt of CO 2. Electricity production at
1350-598: The 1990s, RWE acquired a number of assets in the former East Germany , including stakes in the mining company Lausitzer Braunkohle AG (LAUBAG) and the power company VEAG. In 2000, RWE and VEW merged to create a "new" RWE, and stakes in LAUBAG and VEAG (now both merged into Vattenfall Europe ) were sold to avoid competition violation. In 2001, RWE took over the British company Thames Water . In 2002, it acquired American Water Works Company, based in New Jersey, which became
1404-823: The Bronx, Manhattan, and parts of Queens. Gas service in Brooklyn, Staten Island, and the rest of Queens is provided by National Grid USA 's New York City operations, except the Rockaway peninsula, which is serviced by National Grid's Long Island operations. The average volume of gas that travels through Con Edison's gas system annually could fill the Empire State Building nearly 6,100 times. Con Edison produces 30 billion pounds of steam each year through its seven power plants which boil water to 1,000 °F (538 °C) before distributing it to hundreds of buildings in
1458-518: The Con Edison system could wrap around the Earth 3.6 times. Nearly 36,000 miles (58,000 km) of overhead electric wires complement the underground system—enough cable to stretch between New York and Los Angeles 13 times. The Con Edison gas system has nearly 7,200 miles (11,600 km) of pipes—if laid end to end, long enough to reach Paris and back to New York City, and serves Westchester County,
1512-505: The Czech gas transmission network operator, for €1.6 billion to a consortium consisting of Allianz and Borealis . The company (named Transgas A.S. then) was privatized to RWE in 2002. In the 2000s, RWE also acquired energy companies in Poland (STOEN S.A.) and Slovenia (VSE a.s). It also owned RWE Dea (now DEA AG ), which produced some of the oil and gas RWE sold (annual production
1566-742: The German arm of Friends of the Earth , the Higher Administrative Court in Münster ruled to end the tree cutting. According to BUND, Hambach Forest is a habitat type 9160 of annex I of the European Habitats Directive (Council Directive 92/43/EEC of 21 May 1992). Opponents also argue that an environmental impact assessment study for the mine was never conducted. The Administrative Court in Cologne denied
1620-408: The German branch of RWE had the following environmental implications in 2006: 700 μg/kWh radioactive waste and 752 g/kWh CO 2 emissions . In 2007, the company ranked between the 28th and the 29th place of emitters by country. RWE has long been among the top targets of climate activists, in part as a result of a long-running, high-profile battle to preserve a forest in western Germany that
1674-567: The Karnap power plant in Essen started to burn domestic waste. In 1969, RWE acquired a stake in Gelsenkirchener Bergwerks-Aktiengesellschaft which allowed its expansion into the oil industry. However, in 1974, it was sold to VEBA AG . In 1971, founded Gesellschaft für elektrischen Straßenverkehr , a company to develop an electric car for commercial scale production. The prototype presented in 1983
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1728-679: The New York Gas Light Company, was founded by a consortium of New York City investors. A year later, it was listed on the New York Stock Exchange (NYSE). Due to the Board of Aldermen's authority to grant franchises in the City of New York in the early to mid-19th century, interaction with Tammany Hall was required to expand the business. By William M. Tweed 's reign in the late 1860s as the boss of Tammany Hall,
1782-1120: The UK. RWE's last coal-fired power station in the UK, Aberthaw Power Station in South Wales, was closed in March 2020. The company owns the gas-fired power stations Staythorpe in Nottinghamshire, Pembroke in West Wales, Little Barford in Bedfordshire, Great Yarmouth in Norfolk, and Didcot 'B' Station in Oxfordshire. It has previously closed its Didcot 'A' Power Station in Oxfordshire, Littlebrook Power Station in Kent, Fawley Power Station in Hampshire, and Tilbury Power Station in Essex. RWE jointly owns one third of
1836-709: The company acquired a stake in Rheinische Elektrizitäts-Aktiengesellschaft (Rheinelektra) and became a shareholder in the newly established Ruhrgas gas company in exchange of its gas grid. In 1927, RWE and Prussia swapped their holdings in the Brunswick and Cologne coalfields and RWE became an owner of Braunkohlen-Industrie AG Zukunft. In 1932, RWE acquired a majority stake in the coal company Rheinische Aktiengesellschaft für Braunkohlenbergbau (Rheinbraun). In 1936, it acquired Niederrheinische Braunkohlenwerke AG, an operator of
1890-447: The company as one of "America's Most Admired Companies" in the publication's newest corporate ranking survey. In 2003, Con Edison ranked second on the top ten list for electric and gas utilities. ● In December 2011, the non-partisan organization Public Campaign released a report criticizing ConEd for spending $ 1.8 million on lobbying and not paying any taxes during 2008–2010, instead getting $ 127 million in tax rebates, despite making
1944-840: The company's earnings, as of fall 2017. Con Edison sold its clean energy business to RWE in 2023. To support electric vehicles, Con Edison partnered with the company FleetCarma to provide $ 500 in rewards to owners of electric vehicles in New York City and Westchester County, New York. Through this program, Con Edison pays customers to charge their vehicles when energy demand is low. The Con Edison electrical transmission system utilizes voltages of 138 kilovolts (kV), 345 kV, and 500 kV. The company has two 345 kV interconnections with upstate New York that enable it to import power from Hydro-Québec in Canada and one 345 kV interconnection each with Public Service Electric and Gas (PSE&G) in New Jersey and Long Island. Con Edison's connection with Hydro-Québec
1998-477: The last power plant it owned, Consolidated Edison, Inc. became primarily an energy distributor. On January 1, 1998, following the deregulation of the utility industry in New York State, a holding company, Consolidated Edison, Inc., was formed. It is one of the nation's largest investor-owned energy companies, with approximately $ 13 billion in annual revenues and $ 47 billion in assets. The company provides
2052-503: The name was changed to Consolidated Edison Company of New York, Inc. The New York Steam Company began providing service in Lower Manhattan in 1882. Con Edison bought it in 1954, and now operates the largest commercial steam system in the world, providing steam service to nearly 1,600 commercial and residential establishments in Manhattan from Battery Park to 96th Street. Consolidated Edison acquired or merged with more than
2106-552: The necessity of such a study in November 2017, because the permission for the mining operations was given in the 1970s, long before environmental impact assessment studies became mandatory. In October 2018, an estimated 50,000 protesters turned out against the company's planned continued forest clear-cutting for its open-pit coal mine expansion while a court order delayed the process until at least late 2020, to explore if it violated EU environmental regulations. In September 2021, it
2160-461: The plant had installed capacity of 190 megawatts, which made it the largest in Europe. Before World War I , municipalities of Essen, Mülheim an der Ruhr , and Gelsenkirchen , became shareholders in RWE. By the 1920s, Bonn , Cologne , Krefeld , Duisburg , and Düsseldorf also became shareholders and municipalities owned the majority of RWE's shares. In 1925, the Prussian state became
2214-774: The power to authorize franchises lay with the County Board of Supervisors, of which Tweed had been a member. By 1871, Tweed was a member of the board of the Harlem Gas Light Company, a precursor to the Consolidated Edison Company. In 1884, six gas companies combined into the Consolidated Gas Company. In 1901, the Consolidated Gas Company bought Edison Illuminating Company , which had been founded by Thomas Edison in 1880, first supplying electricity to 59 customers in
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2268-467: The purchase of E.ON's renewables business and nuclear electricity generation assets, RWE is expected to become Europe's third-largest renewable energy provider behind Spain's Iberdrola and Italy's Enel , and the second-largest in the market for offshore wind power. On 1 December 2023, it was agreed that RWE would be part of an £11 billion investment in the UK's Dogger Bank wind farm project. The German government received EU approval in late 2023 for
2322-975: The rollout was completed in 2022 with several thousand meters still needing to be changed in 2023 due to customer access issues. ConEd utilized Aclara's metering products for field installation. Over five million electric and gas meters were replaced in this project. Lime green-colored seals were used on electric meters to indicate that the meter was changed by a contractor. ConEd offers a variety of programs and resources for its customers and stakeholders, organized in such categories as, "For Renters", "For Residential Owners", "For Small & Medium Businesses", "For Commercial & Industrial", "Business Partners", "Investors", "Community Affairs", and "Municipalities". Examples of such resources include: Con Edison contributes substantial funding and volunteer hours to many non-profit organizations and learning centers including New York Botanical Garden , Hudson Valley Groundworks Science Barge , Teatown Reservation , Jay Heritage Center , and
2376-488: The same year, it also acquired shareholdings in the tramway companies Bochum-Gelsenkirchener Straßenbahn AG and Rheinische Bahngesellschaft AG. In 1908, RWE signed demarcation contracts with Städtische Elektrizitätswerk Dortmund and Elektrizitätswerk Westfalen AG. Together they created Westfälische Verbands-Elektrizitätswerk AG. RWE contributed to the newly established company by its power station in Dortmund–Kruckel and
2430-517: The state police. Previously, he had received a tip from the then commercial director and fellow board member of Ricken, Friedrich Praedel. This "board member" of RWE is said to have pushed Dillgardt to press charges. Wilhelm Ricken was then arrested on 20 October 1943, and sentenced to death on 8 March 1944, by the Volksgerichtshof (People's Court), partly because of his statement that "the war would end like 1918". On 2 May 1944, Wilhelm Ricken
2484-429: The streets must be torn up to replace underground wiring. Temporary fixes, using what was described as "nothing more than overhead extension cords" (called "Shunts") at times are left in place for an extended period. In 2017 Con Ed committed to repair "at least 90% ... within 90 days." A former Con Edison building on West 53rd Street in Manhattan was converted first into the studio for the television game show Let's Make
2538-706: The supply grid in Witten/Dortmund. Later all these companies formed Vereinigte Elektrizitätswerke Westfalen AG (VEW). In 1909, RWE opened the Reisholz Power Plant and acquired a stake in the tram company Süddeutsche Eisenbahngesellschaft AG. RWE also started to build its own gas supply network in 1909. Deliveries of coal gas to the Bergisches Land region started in 1912. In 1914, RWE opened Vorgebirgszentrale power plant in Hürth . By 1920,
2592-418: The transmission system operator Amprion (RWE Transportnetz Strom GmbH), but keeping 25.1% in the company. On 14 August 2012, RWE AG announced that the company would cut 2,400 more jobs to reduce costs. Previously the company had announced to eliminate 5,000 jobs and 3,000 jobs through divestments as anticipated of closing all nuclear reactors by 2022. In August 2013, RWE completed the disposal of NET4GAS,
2646-446: Was arrested and later admitted to taking bribes that the utility company claimed amounted to $ 10,000. In April 2016, Con Edison agreed to pay over $ 171 million, about 1.5% of its annual revenue, back to its customers in compensation for harm resulting from the bribery. The Public Service Commission had found that Con Edison failed to supervise the employees. Con Edison admitted no wrongdoing. ● In March 2002, Fortune magazine named
2700-877: Was executed in Berlin-Plötzensee. In 2015, a " stumbling block " was placed at this final address in Essen to commemorate Ricken's fate. During World War II, the infrastructure owned by RWE was severely damaged but mostly repaired by 1948. In 1952, the company was excluded from the Allies' control. In 1957, RWE acquired the coal company Neurath AG. RWE and the Bavarian state-owned 'Bayernwerk' joined forces to build Germany's first industrial nuclear reactor . The Kahl experimental nuclear power plant (15 megawatts), constructed right next to RWE's Dettingen hard coal fired power plant, supplied its first electricity in 1962. Until its closure in 1985, this plant would serve as
2754-676: Was founded in Essen in 1898, as Rheinisch-Westfälisches Elektrizitätswerk Aktiengesellschaft (Rhenish-Westphalian Power Plant) by Elektrizitäts-Actien-Gesellschaft vorm. W. Lahmeyer & Company (EAG) and others. The full name was used until 1990 when it was renamed to RWE AG. Its first power station started operating in Essen in 1900. In 1902, EAG sold its shares to a consortium formed by Ruhr industrialists Hugo Stinnes and August Thyssen . In 1906, it expanded its operations beyond Essen by acquiring Elektrizitätswerk Berggeist AG in Brühl , and Bergische Elektrizitätswerke GmbH, Solingen . During
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#17327801178282808-430: Was produced in cooperation with Volkswagen and named City-Stromer . In 1988, RWE again expanded into the oil industry by acquiring Deutsche Texaco, formerly known as Deutsche Erdoel AG, which was renamed RWE-DEA AG für Mineralöl und Chemie (RWE-DEA). RWE was reorganized to hold energy, mining and raw materials; petroleum and chemicals; waste management; mechanical and plant engineering; and construction divisions. In
2862-476: Was shut down on October 31, 1974, because the emergency core cooling system did not meet regulatory requirements. The company built two more reactors at Indian Point during the 1970s: Indian Point 2 and 3. Indian Point 3 was sold to the New York Power Authority in 1975. Entergy acquired Indian Point 2 in November 2000, nine months after a steam generator leak. With the sale of Indian Point 2,
2916-415: Was unnecessary or not performed and promised faster payment for some work performed by the construction company in exchange for the bribes . The FBI had two retired Con Edison employees and the president of the construction company wear recording devices that recorded the suspects demanding bribes of between $ 1000 and $ 5000. Later that year Con Edison sued Brendan Maher, one of the construction supervisors who
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