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Con Edison Invests Over $1 Billion to Prepare for Summer Heat & Storms(Marketwire Via Acquire Media NewsEdge) NEW YORK, NY -- (Marketwired) -- 06/03/14 -- Con Edison is investing $1.3 billion this year for summer reliability, upgrading its electric delivery system for New York City and Westchester County. The company is also in the second year of a four-year, $1billion fortification program to protect New Yorkers from the next major storm. (Click http://bit.ly/T9PiIa for video of company crews preparing the electrical system for the summer). "This is the time of year when millions of air conditioners are turned on, adding to the other electrical needs of home and office like laptops, iPads, high-speed network servers, docking stations and cell phone chargers," said Craig Ivey, president of Con Edison. "We want our customers to enjoy the summer by using energy wisely, and our electric delivery system investments will provide the service reliability our customers demand and deserve for the hot days ahead." Con Edison's summer investments will help meet energy demand from new growth in its service area. Residential building permits are expected to rise 43 percent this year in the region. Additionally, New York City's population reached a record high of 8.4 million last year. There is also an increase in professional and business services, plus growth in the education, health, retail, and hospitality sectors. Ready for Summer/Major Storms Con Edison has invested at least $1billion to prepare for summer each year since 2005. System-wide infrastructure improvements underway for summer 2014 include installation of 22 network transformers; three new major electric delivery feeders; 69 overhead transformers; reinforcement of 69 feeders, 49 underground sections, and 266 overhead spans, and the replacement of 11 miles of underground and aerial feeder cables with new electric lines. Power supplies are sufficient to meet this summer's expected electric demand. The electric peak-demand forecast for this summer in Con Edison's service area is 13,675megawatts (MW). The record -- 13,322 MW -- was set on July 19, 2013 at 5 p.m. An additional $230million will be spent this year on storm-hardening projects. Cornerstones of Con Edison's four-year, $1 billion storm improvement plan for New York City and Westchester County include advancing smart grid designs to help reduce customer outages, building and installing protective barriers around critical equipment, and redesigning two underground electrical networks in lower Manhattan, and one in Brooklyn. The storm-hardening plan, created in 2013 following Hurricane Sandy, will help better protect customers and equipment from extremely harsh weather events. Conserve & Save on Higher Summer Bills Con Edison's delivery rate remains virtually flat from last year; however, power supply prices, which the company does not control, are higher than last summer. A typical New York City residential customer using 350 kWhrs per month, can expect average monthly summer bills to rise from $106.08 in 2013 to $112.41 this year, or 6 percent. A typical Westchester residential customer using 500 kWhrs per month, can expect average monthly summer bills to rise from $129.94 in 2013 to $139.66 this year, or 7.5 percent. A typical business customer using 10,800 kWhrs per month, can expect average summer bills to rise from $2,468.90 to $2,581.19, or 4.6 percent. Con Edison reminds customers that they can help control their bills by using energy wisely, setting air conditioner thermostats at 78 degrees, and following energy savings tips at conEd.com/waystosave. Con Edison's Green Team is also offering an array of rebates and incentives to help customers save energy and money. The company has programs for residential, multifamily, and business customers. For information on all Con Edison's energy efficiency programs, visit conEd.com/greenteam. A/C Savings Programs Residential customers who purchase an ENERGY STAR® room air conditioner can get rebates of $25. Special remote-control technology is also available for customers using either central air conditioning systems or window air conditioners. Residential and small business customers can get free smart thermostats if they have a central air conditioning system. The thermostats allow Con Edison to remotely adjust the amount of electricity a central air-conditioning system uses. Con Edison will make those adjustments when it needs to reduce electricity use, and a customer can override the company's adjustment. Con Edison estimates there are over 6.5 million window air conditioners in New York City, which contribute to 20 percent of summertime electricity demand. The Cool NYC modlet helps customers monitor their window air conditioner energy use and control it in real-time from any browser or smart phone. This is a cost-effective way to encourage customers to use energy wisely while achieving significant electricity savings. A customer can override the company's adjustment. To learn about both programs, visit: http://www.coned.com/energyefficiency/default.asp Report Your Outage New features on the mobile version of the conEd.com website can be downloaded on Con Edison's new free iPhone and Android app, My conEdison, to report and check the status of a power problem, and view the company's interactive online outage map. The app will also allow customers to report and check the status of outages, plus pay their bills, view their billing and payment histories, and report meter readings. Customers can follow Con Edison on Twitter or like us on Facebook for general outage updates, safety tips and storm preparation information. Customers can also report downed power lines, outages, and check service restoration status at conEd.com or by calling 1-800-75-CONED (1-800-752-6633). When reporting an outage, customers should have their Con Edison account number available, if possible, and report whether their neighbors also have lost power. Customers who report outages will be called by Con Edison with their estimated restoration times as they become available. Con Edison is a subsidiary of Consolidated Edison, Inc. (NYSE: ED), one of the nation's largest investor-owned energy companies, with approximately $12 billion in annual revenues and $41 billion in assets. The utility provides electric, gas and steam service to more than three million customers in New York City and Westchester County, New York. For additional financial, operations and customer service information, visit us on the Web at conEd.com, at our green site, conEd.com/waystosave, or find us on Facebook at Con Edison. CONNECT WITH US:Facebook: https://www.facebook.com/ConEdison Twitter: https://twitter.com/conedison YouTube: http://www.youtube.com/conedisonny Flickr: http://www.flickr.com/photos/conedison/sets/72157627767618832/ Contact: Media Relations 212-460-4111 Source: Con Edison Co. of NY, Inc. |