Welcome to our dedicated page for Consolidated Edison news (Ticker: ED), a resource for investors and traders seeking the latest updates and insights on Consolidated Edison stock.
Consolidated Edison, Inc. (Con Edison) (NYSE: ED) generates a steady flow of news as one of the nation’s largest investor-owned energy-delivery companies. Through its subsidiaries Consolidated Edison Company of New York, Inc. (CECONY), Orange and Rockland Utilities, Inc. (O&R), and Con Edison Transmission, Inc., the company provides electric, gas and steam service in and around New York City and parts of New Jersey, and invests in electric and gas transmission assets.
News about ED commonly centers on quarterly earnings releases, where Con Edison reports net income and adjusted earnings, explains major drivers of performance at CECONY, O&R and Con Edison Transmission, and reconciles GAAP results to non‑GAAP measures. These updates often discuss rate base changes, regulatory developments, capital spending and the impact of items such as the sale of the former Clean Energy Businesses and the company’s equity interest in Mountain Valley Pipeline, LLC.
Investors also see frequent announcements on common stock dividends, including declared per‑share amounts and payment schedules, as well as notices about upcoming earnings release dates and investor presentations. Company leadership uses these events to outline strategy, highlight investments in grid reliability and resilience, and describe how the utilities support New York State’s clean energy goals while serving growing electrification in buildings and transportation.
Regulatory and financing developments appear in Con Edison’s news flow as well, including information later detailed in Form 8‑K filings, such as new debenture issuances, bank credit agreements and multi‑year rate proposals for CECONY’s electric and gas businesses. This news page allows readers to follow ED’s financial performance, regulatory milestones, capital plans and governance updates in one place.
Con Edison, in collaboration with Lion Electric and Posi-Plus, is set to introduce the first all-electric bucket truck for utility work in the U.S. Scheduled for delivery in early 2022, this innovative vehicle will perform tasks up to 60 feet high while traveling 130 miles on a single charge. The initiative reflects Con Edison’s commitment to fleet electrification and aims to reduce fossil fuel dependency. The truck will be quieter and will eliminate harmful emissions, aligning with the company's Clean Energy Commitment to provide 100% clean electricity by 2040.
On March 22, 2021, Con Edison announced the installation of solar panels on New York City Housing Authority (NYCHA) rooftops by twelve newly trained installers. These panels will generate approximately 1 megawatt of electricity, benefiting at least 400 low- and moderate-income customers who can save around $120 annually on their bills. The initiative aims to create green jobs and enhance access to clean energy. Con Edison is collaborating with NYCHA and partners like Solar One to promote sustainable energy solutions across the city.
Con Edison reported a 2020 net income of $1,101 million ($3.29/share), a decline from $1,343 million ($4.09/share) in 2019. Adjusted earnings were $1,399 million ($4.18/share), down from $1,438 million ($4.38/share). For Q4 2020, net income fell sharply to $43 million ($0.13/share) from $295 million ($0.89/share) in Q4 2019. The 2021 adjusted EPS guidance is set between $4.15 to $4.35, with a projected 4%-6% annual growth over the next five years. Planned capital investments total $4,018 million for 2021 and $8,114 million for 2022-2023, supported by long-term debt and equity issuance.
Con Edison customers demonstrated significant adoption of solar energy in 2020, completing 5,542 solar arrays that can produce 44.77 megawatts. Overall, more than 35,700 projects have been completed with a capacity of 322 megawatts, avoiding 300,000 tons of carbon emissions. Queens led in project completions, while Westchester had the highest production capacity. A new device, Smart ConnectDER, aims to reduce installation costs by $1,000. Con Edison is also accelerating project approval timelines, further supporting its commitment to clean energy.
Con Edison has launched a comprehensive Climate Change Implementation Plan aimed at enhancing the resilience of its energy delivery systems in New York City and Westchester County. The initiative reflects the recognition of climate vulnerabilities and incorporates climate change projections into operational planning. The company aims to fortify infrastructure against extreme weather, with updates including new flood-design standards and a commitment to provide customers with 100% clean electricity by 2040. Regular assessments and stakeholder feedback will guide ongoing adaptation efforts.
Consolidated Edison, Inc. (NYSE:ED) will report its 2020 earnings on February 18, 2021, after market close. As a major energy-delivery company, Con Edison boasts approximately $13 billion in annual revenues and $60 billion in assets. The company operates through various subsidiaries, including a regulated utility serving New York City and Westchester County, as well as firms specializing in renewable energy and transmission projects.
Consolidated Edison (NYSE: ED) declared a quarterly dividend of 77.5 cents per share, marking a 4 cent annual increase over last year’s $3.06. This dividend is payable on March 15, 2021, to stockholders of record as of February 17, 2021, representing the 47th consecutive annual increase. The company expects 2020 adjusted earnings at the low end of $4.15 to $4.30 per share due to pandemic impacts, with a target dividend payout ratio of 60%-70% of adjusted earnings, potentially exceeding this range in 2021.
Con Edison has expressed strong approval of a recent federal court ruling that reinstates stringent greenhouse gas emission regulations. The utility was involved in the litigation process, emphasizing its commitment to address climate change. Con Edison, a subsidiary of Consolidated Edison, Inc. (NYSE: ED), serves approximately 3.5 million customers across New York City and Westchester County, with annual revenues nearing $13 billion. The company looks forward to collaborating with Congress and the new administration to enact decisive climate actions.
Con Edison is providing a free device, the Smart ConnectDER, to residential customers that can save up to $1,000 when installing solar arrays. This adapter allows customers to avoid costly circuit breaker panel upgrades and simplifies the solar connection process. It is applicable for solar arrays up to 15 kilowatts and reduces installation time by several hours. The initiative, supported by NYSERDA, aims to enhance the adoption of clean energy in New York, with 2,400 devices funded and provided for the program, promoting Con Edison’s vision of 100% clean electricity by 2040.
Con Edison has initiated a project utilizing five electric school buses to supply power to its grid, marking a first in New York State. These e-buses, operated by Lion Electric, can discharge 50 kilowatts collectively, contributing to cleaner air by replacing diesel buses. The project aims to evaluate the potential of e-buses for enhancing air quality and grid reliability. With approximately 1,000 school buses in Westchester and 8,000 in NYC potentially converting to electric, this initiative could significantly impact energy management during peak demand periods while exploring battery longevity effects.