Consolidated Edison Competitive Intelligence & Landscape

Consolidated Edison (coned.com) is a major energy company that operates one of the world's largest energy delivery systems, serving 10 million people in New York City and Westchester County [coned.com/en/about-us/company-information]. Founded in 1823 as the New York Gas Light company, Con Edison has a nearly two-century legacy of providing essential energy services to the Greater New York area [coned.com/en/about-us/careers/about-our-company].

The company's core services include electric, gas, and steam distribution.

Con Edison powers 3.6 million electric customers across a 604-square-mile service territory and distributes natural gas to 1.1 million customers in Manhattan, the Bronx, Queens, and Westchester County, making it one of the largest gas distribution companies in the United States [coned.com/en/about-us/corporate-facts]. They also offer solutions for managing energy costs, tracking usage, and provide tips for lowering energy bills, alongside exploring clean energy programs and supporting electric heating and cooling and electric vehicles [coned.com].

Con Edison is committed to investing in a reliable, resilient, and affordable energy future for its customers [coned.com]. Beyond energy delivery, the company is involved in community affairs, partnerships, and educational outreach. They also emphasize safety regarding gas, electric, steam, and carbon monoxide, and provide resources for outage prevention and recovery [coned.com].

Consolidated Edison (coned.com) offers various rate plans for its electric and natural gas services in New York City and Westchester, covering the cost of energy usage, infrastructure, and operations, including taxes and supply prices, which fluctuate based on weather, demand, and market conditions [https://www.coned.com/en/accounts-billing/your-bill/your-guide-to-rates].

For electricity, Con Edison provides several optional rate plans beyond the standard residential rate. These include Time-of-Use (TOU) rates, which allow residential and business customers to potentially pay less during off-peak times [https://www.coned.com/en/accounts-billing/your-bill/time-of-use]. Owners of electric vehicles (EVs) can enroll in the EV-TOU rate [https://www.coned.com/en/accounts-billing/consolidated-rate-form], which offers specific pricing for charging at home, separate from the standard residential rate where supply and delivery prices vary by season and usage [https://www.coned.com/en/our-energy-future/electric-vehicles/electric-vehicles-and-your-bill]. Another option is the Smart Energy Plan (SEP), which charges a flat delivery rate based on electricity usage (kWh) regardless of the time of use, though delivery costs can also be influenced by the simultaneous use of multiple devices [https://www.coned.com/en/accounts-billing/smart-energy-plan]. A smart meter is required for eligibility for some plans [https://www.coned.com/en/accounts-billing/consolidated-rate-form]. The Steady Use Rate (SUR) is an alternative for customers who use a lot of electricity consistently without major spikes, charging based on kilowatts (kW) rather than kilowatt-hours (kWh) and potentially offering savings compared to the Standard Electric Rate [https://www.coned.com/en/accounts-billing/steady-use-rate].

For natural gas, Con Edison has a Schedule for Gas Service and provides tariff rate summaries and historical rates [https://www.coned.com/en/rates-tariffs/rates/natural-gas]. Current natural gas rates include a base rate of $33.23 for the first 3 therms (or less) per month, with an additional $1.8732 per therm for excess usage over 3 therms. Firm Sales Customers are also subject to various surcharges, including Merchant Function Charge (MFC), System Benefits Charge (SBC), and Arrears Management Program Recovery Surcharge [https://www.coned.com/-/media/files/coned/documents/rates/gas/allrates.pdf].

Con Edison also offers a Budget Billing payment plan, which allows most residential and multifamily customers to spread their energy payments evenly throughout the year, helping to manage costs and avoid seasonal spikes [https://prodcde10.coned.com/en/accounts-billing/payment-plans-assistance/budget-billing]. The company is actively investing in its energy grid and offering affordability programs and efficiency tools to help customers manage their energy use and costs [https://www.coned.com/en/accounts-billing/your-bill/about-con-edisons-rates].

Consolidated Edison (coned.com) actively recruits individuals across various fields, signaling a strategic focus on bolstering its workforce for future energy demands. The company maintains a dedicated "Careers" section on its website, highlighting opportunities in energy, gas, and steam sectors [coned.com/en/about-us/careers]. This approach is consistent with their mission to power New York City and Westchester, a commitment that necessitates continuous investment in human capital [coned.com].

Con Edison emphasizes attracting diverse talent, including recent college graduates for roles in infrastructure, cybersecurity, technology, transmission, and clean energy policy [coned.com/en/about-us/careers/opportunities-for-recent-college-graduates]. They also actively recruit military veterans, recognizing their valuable knowledge, skills, and leadership experience, with over 720 veterans currently employed [coned.com/en/about-us/careers/veterans]. The company offers a competitive benefits package, including medical, dental, vision, parental leave, and 401(k) plans, to attract and retain employees [coned.com/en/about-us/careers/why-work-here].

While specific layoff data for Consolidated Edison (coned.com) is not readily available in the provided sources, the emphasis on continuous hiring and a robust career section suggests a stable or growing workforce. The company's consistent investment in energy infrastructure and clean energy initiatives, as highlighted on its homepage, further indicates a strategic need for a strong and skilled workforce rather than a pattern of significant reductions [coned.com].

Consolidated Edison (coned.com) demonstrates robust financial performance, playing a significant role in New York's economy. In 2023, the company contributed an estimated $22.6 billion in economic impact to New York State, reflecting a 20 percent increase ($3.8 billion) over 2021, driven by investments in clean energy transition and system resiliency [coned.com/en/about-us/media-center/news/2024/08-15/con-edison-is-an-economic-engine-powering-new-york-jobs-clean-energy-transition]. The company also supports 38,600 jobs within the state and allocated $1.1 billion to contracts with businesses in New York City and Westchester County [coned.com/en/about-us/media-center/news/2024/08-15/con-edison-is-an-economic-engine-powering-new-york-jobs-clean-energy-transition].

For the first quarter of 2025, Con Edison reported a net income for common stock of $791 million, or $2.26 per share, an increase from $720 million, or $2.08 per share, in the same period of 2024. Adjusted earnings (non-GAAP) also rose to $792 million, or $2.26 per share, in 2025, up from $742 million, or $2.15 per share, in 2024 [coned.com/en/about-us/media-center/news/2025/05-01/con-edison-reports-2025-first-quarter-earnings]. Looking at the full year 2024, the company reported a net income for common stock of $1,820 million, or $5.26 per share, and adjusted earnings of $1,868 million, or $5.40 per share [coned.com/en/about-us/media-center/news/2025/02-20/con-edison-reports-2024-earnings]. In the second quarter of 2025, net income for common stock was $246 million, or $0.68 per share, compared to $202 million, or $0.58 per share, in the 2024 second quarter [coned.com/es/about-us/media-center/news/2025/08-07/con-edison-reports-2025-second-quarter-earnings].

In terms of fundraising and M&A activity, Consolidated Edison, Inc. (NYSE: ED) has engaged in common share offerings to support its operations and investments. In both February and December 2026, the company announced public offerings of 7,000,000 common shares [coned.com/en/about-us/media-center/news/2026/02-23/con-edison-announces-common-share-offering-with-a-forward-component, coned.com/en/about-us/media-center/news/2024/12-03/con-edison-announces-common-share-offering-with-a-forward-component]. These offerings involved a forward sale agreement where shares were sold to an underwriter, J.P. Morgan Securities LLC. Additionally, Con Edison announced a $2 billion At-The-Market (ATM) Equity Offering Program [coned.com/en/about-us/media-center/news]. The company consistently makes substantial investments, including $3.9 billion in system upgrades for summer 2026 [coned.com/en/about-us/media-center/news], underscoring its commitment to reliable and resilient energy infrastructure in New York [coned.com].

Consolidated Edison (coned.com) actively participates in and hosts various events, ranging from educational conferences and technical meetings to hands-on training and informational webinars. The company organizes Community Resources Conferences, which are virtual education events tailored for government, nonprofit, and community care professionals. These conferences feature presentations by Con Edison employees and other experts on a variety of helpful topics [https://www.coned.com/en/community-affairs/customer-outreach/outreach-events].

Con Edison also holds events related to its Commercial and Industrial (C&I) programs, including kickoff webinars and monthly meetings for participating contractors [https://prodcde10.coned.com/en/save-money/rebates-incentives-tax-credits/participating-contractor-resources-and-directory/incentives-and-resources/news-and-events] [https://www.coned.com/-/media/files/coned/documents/save-energy-money/rebates-incentives-tax-credits/rebates-incentives-tax-credits-for-commercial-industrial-buildings-customers/commercial-and-industrial-program/ci-program-launch-webinar.pdf]. These events often cover program updates, incentives, and co-branding opportunities. For its steam customers, Con Edison provides free Hands-on Steam Training Seminars and Log On & Learn Webinars that cover best practices for using steam service equipment, including safety, efficiency, and maintenance [https://www.coned.com/en/commercial-industrial/steam/steam-events].

In line with its clean energy initiatives, Con Edison issues Requests for Information (RFI) for Clean and Non-Emitting Reliability Solutions [https://www.coned.com/en/business-partners/business-opportunities/non-emitting-solutions]. To support these RFIs, the company hosts NYC Reliability Request for Information Webinars and Technical Conferences to explain requirements, discuss the NYC Reliability Needs Report, and answer questions from energy developers, aggregators, and technology providers [https://www.coned.com/-/media/a2358913df6248baa3d86862d67acd9d.ashx] [https://www.coned.com/-/media/files/coned/documents/business-partners/business-opportunities/non-emitting-reliability-solutions/nyc-reliability-tech-conference-slides.pdf].

Furthermore, Con Edison engages with electric marketers through events like the Annual Electric Marketer Meeting, which includes discussions on retail access system issues, enterprise updates, and the Retail Access Modernization Project (RAMP) [https://www.coned.com/-/media/files/coned/documents/business-partners/escos-news/2025/36-annual-electric-marketer-meeting.pdf]. These diverse event participations highlight Con Edison's commitment to community engagement, technical education, and fostering partnerships in the energy sector.