Con Edison Reaches Agreement with Iroquois to Enhance Gas Deliverability for NYC

Continues Efforts to Promote Renewables, Energy Efficiency and Alternative Heating Solutions

Con Edison said today that it has executed an agreement with an existing natural gas pipeline to develop and permit a rational solution that would provide needed incremental natural gas capacity to the Bronx and parts of Manhattan and Queens. Demand for natural gas in New York City has grown significantly in recent years. This has been due to conversions of heating systems from oil, as well as economic growth, with developers preferring natural gas in new buildings.

Under the agreement, Iroquois Gas Transmission System, L.P. would provide increased natural gas capacity to Con Edison’s distribution system that serves New York City by upgrading compression facilities on the Iroquois system. These upgrades will enhance Iroquois’ capability to transport much needed natural gas supplies to Con Edison customers. Subject to the necessary permits and approvals, the incremental capacity could be placed in service by November 2023.

This agreement supports continued economic growth in New York City by supplementing existing natural gas capacity without the construction of a new pipeline. When combined with Con Edison’s continued efforts to advance renewables and alternative technologies, the project provides a superior environmental alternative to the continued use of heating oil, and will provide customers with clean, affordable heating and cooking solutions. The project will include numerous industry leading methane reduction measures.

“Increasing gas capacity in our New York City service area provides the most rational, sensible approach to allow an orderly transition to a renewable energy future,” said Tim Cawley, president of Con Edison. “The solution provides the time needed to improve upon and increase the adoption of non-pipeline technology.”

Con Edison is continuing to implement the company’s $223 million Smart Solutions program for customers who are interested in alternatives to natural gas, including incentives to electrify heating systems, upgrade HVAC controls, install geothermal heat pumps or weatherize their homes. The increased gas capacity plan allows more time for technologies to advance, and for customer adoption to increase for alternative heating and cooking solutions.

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 $55 billion in assets. The utility delivers electricity, natural gas and steam to 3.5 million customers in New York City and Westchester County, N.Y. For financial, operations and customer service information, visit conEd.com. For energy efficiency information, visit coned.com/energyefficiency. Also, visit us on Twitter and Facebook.