Con Edison Media Relations
May 21, 2012
CON EDISON CEO KEVIN BURKE SAYS COST MANAGEMENT AND REGION'S STRONG ECONOMY DRIVE COMPANY'S SUCCESS
NEW YORK –
Con Edison Chairman and CEO Kevin Burke told shareholders today that the company’s ability to control costs and the vitality of the local economy continue to drive the company’s success.
“We take a hard look at every dollar we spend, every day of the year,” Burke said at the company’s annual meeting. “We also benefit from the strength of the local economy. New York consistently attracts large capital investments, a talented and creative workforce, and millions of tourists.”
Con Edison offers customers a variety of energy efficiency programs, including surveys, rebates and incentives, while spending about $2 billion a year to upgrade its energy-delivery systems and ensure reliable service.
Con Edison won the 2011 National Award for Outstanding Reliability Performance by PA Consulting Group for electricity delivery in 2010. Con Edison also received the organization's ReliabilityOneTM Award for the Northeast Region, as well as an award for Outstanding System-Wide Reliability.
When extreme weather such as summer heat waves and a rare October snowstorm caused customers to lose service in 2011, the 14,000 men and women of Con Edison responded efficiently and professionally.
Con Edison’s earnings per share increased by 10 cents, from $3.49 to $3.59 in 2011. The dividend increased another two cents per share in January, rising to $2.42. Con Edison has now raised its dividend for 38 consecutive years. It is the only utility in the S&P 500 that has done so for more than 30 straight years.
Consolidated Edison, Inc. [NYSE: ED] is one of the nation’s largest investor-owned, energy-delivery companies, with approximately $13 billion in annual revenues and $40 billion in assets. The company provides a wide range of energy-related products and services to its customers through the following subsidiaries: Consolidated Edison Company of New York, Inc., a regulated utility providing electric, gas, and steam service in New York City and Westchester County, New York; Orange and Rockland Utilities, Inc., a regulated utility serving customers in a 1,350 square mile area in southeastern New York State and adjacent sections of northern New Jersey and northeastern Pennsylvania; Con Edison Solutions, a retail energy supply and services company; Con Edison Energy, a wholesale energy supply company; and Con Edison Development, a company that participates in infrastructure projects. For additional financial, operations and customer service information, visit Consolidated Edison Inc.’s Web site at www.conEdison.com.
Consolidated Edison, Inc. is a Dow Jones Sustainability Index (DJSI) company. The global Carbon Disclosure Project (CDP) ranks Consolidated Edison, Inc. as the only utility in the CDP’s S&P 500 2011 Carbon Performance Leadership Index and #1 among S&P 500 utility companies in the 2011 Carbon Disclosure Leadership Index. Consolidated Edison, Inc. also has been recognized for its environmental performance by the U.S. Environmental Protection Agency, the U.S. Department of Energy and other organizations.
For additional financial, operations and customer service information, visit us at www.conEd.com, at our green site, www.coned.com/thepowerofgreen, or find us on Facebook at Power of Green