Con Edison has been examining for some time ways to protect our infrastructure and maintain reliable service for our customers during storms such as Sandy.
While we invest nearly $2 billion every year in our electric, gas and steam systems, we have committed in the short term to earmark $250 million specifically on measures that can help protect critical equipment from flood damage. These measures would include raising electrical relay houses in substations, and installing stronger barriers and flood pumps.
Putting major overhead power lines underground is also a consideration and will be examined in greater detail.
While our commitment today would represent an initial infusion of preventive measures, we expect that even greater investments will be needed as regional discussions evolve over the coming months and years.
We appreciate Mayor Bloomberg's leadership on this issue and look forward to continuing our work with his administration.