Consolidated Edison
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| Public | |
| Traded as | |
| Industry | Energy |
| Founded |
1823 as the New York Gas Light Company
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| Headquarters | |
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Area served
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New York metropolitan area |
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Key people
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John McAvoy (CEO) |
| Services |
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| Revenue | 2016:  $13 billion |
| 2015: $2.427 billion |
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| Total assets | 2016: $47 billion |
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Number of employees
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2016: 14,796 total employees for Consolidated Edison, Inc., which includes 13,383 for Con Edison Company of New York, 1,131 for Orange and Rockland Utilities, Inc., and 282 employees for Consolidated Edison's Inc.'s competitive energy businesses. |
| Website | www |
Consolidated Edison, Inc., commonly known as Con Edison or Con Ed, is one of the largest investor-owned energy companies in the United States, with approximately $13 billion in annual revenues as of 2016, and over $47 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%). Though the company provides an indispensable service to New York residents, a number of major incidents and service problems have negatively impacted its reputation with the public.
In 1823, Con Edison’s earliest corporate predecessor, the New York Gas Light Company, was founded by a consortium of New York City investors. A year later, it was listed on the . In 1884, six gas companies combined into the Consolidated Gas Company.
The New York Steam Company began providing service in lower Manhattan in 1882. Today, Con Edison 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.
Con Edison’s electric business also dates back to 1882, when Thomas Edison’s Edison Illuminating Company of New York began supplying electricity to 59 customers in a square-mile area in lower Manhattan. After the “War of Currents”, there were more than 30 companies generating and distributing electricity in New York City and Westchester County. But by 1920 there were far fewer, and the New York Edison Company (then part of Consolidated Gas) was clearly the leader.
In 1936, with electric sales far outstripping gas sales, the company incorporated and the name was changed to Consolidated Edison Company of New York, Inc. The years that followed brought further amalgamations as Consolidated Edison acquired or merged with more than 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.
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Wikipedia