Con Edison
New York utility holding company listed on the NYSE (ED). Its subsidiaries serve about 3.7 million customers in New York City and Westchester and a 1,300-square-mile area of New York and New Jersey. It sold its clean energy business to RWE in 2023.
Industry: Regulated electric, gas and steam utility | Location: New York, United States | Founded: 1884
About Con Edison
Consolidated Edison, Inc., known as Con Edison, is a New York holding company listed on the New York Stock Exchange under the symbol ED. It has three subsidiaries. Consolidated Edison Company of New York provides electric service in New York City and Westchester County, gas service in parts of the city and Westchester, and steam service in Manhattan, to about 3.7 million customers across 604 square miles. Orange and Rockland Utilities serves a 1,300-square-mile area of southeastern New York and northern New Jersey. Con Edison Transmission invests in electric transmission projects.
According to Wikipedia, the earliest predecessor, the New York Gas Light Company, was incorporated in 1823, and Consolidated Gas Company of New York was formed on 10 November 1884 through a merger of gas companies. It took its present name in 1936, and the holding company was formed in 1998. Timothy P. Cawley is chairman and chief executive. Kirk Andrews succeeded Robert Hoglund as chief financial officer after Hoglund announced his retirement in June 2024, and Matthew Ketschke is president of Con Edison. In September 2026 the company said it had more than 14,000 employees in New York.
On 27 May 2026 Con Edison said it was investing a record USD 3.9 billion in its electric delivery system for the summer.
On 1 October 2022 Con Edison agreed to sell Con Edison Clean Energy Businesses, Inc. to RWE Renewables Americas, a subsidiary of RWE, for USD 6.8 billion, and it completed the sale on 1 March 2023, and in March 2023 used part of the proceeds for a USD 1 billion accelerated share repurchase.
Securities filings put 2025 revenue at USD 16.918 billion and net income at USD 2.023 billion, compared with USD 15.256 billion and USD 1.820 billion in 2024. Net income for common stock was USD 1.726 billion for the first nine months of 2025. The company announced a USD 2 billion at-the-market equity offering programme on 8 May 2026.
A report released on 30 September 2026 put its 2025 economic impact in New York State at USD 24.8 billion.
Leadership
- Timothy P. Cawley, Chairman and Chief Executive Officer
- Kirkland Andrews, Senior Vice President and Chief Financial Officer
- Matthew Ketschke, President, Con Edison
- Tali Farhadian, Director