Con Edison Acquires Solar Project

TL;DR

Con Ed just bought a solar project, expanding its green energy footprint.

AI Summary

On November 8, 2024, Consolidated Edison, Inc. filed an 8-K report to announce the completion of its acquisition of a solar energy project. The filing does not specify the seller or the financial terms of the transaction. This acquisition is part of Con Edison's strategy to expand its renewable energy portfolio.

Why It Matters

This acquisition signifies Con Edison's continued investment in renewable energy infrastructure, aligning with broader industry trends towards decarbonization and sustainable energy sources.

Risk Assessment

Risk Level: low — The filing is a routine disclosure of an asset acquisition without immediate financial implications or significant operational changes mentioned.

Key Players & Entities

• Consolidated Edison, Inc. (company) — Registrant
• November 8, 2024 (date) — Report Date

FAQ

Key Financial Figures

• $24.8 million — ges Yr. 1 – $(13.1) million (a) Yr. 2 – $24.8 million (a) Yr. 3 – $44.1 million (a) Amortiza
• $44.1 million — n (a) Yr. 2 – $24.8 million (a) Yr. 3 – $44.1 million (a) Amortizations to income of net reg
• $3.9 million — potential incentives of up to: Yr. 1 – $3.9 million Yr. 2 – $4.7 million Yr. 3 – $5.8 milli
• $4.7 million — of up to: Yr. 1 – $3.9 million Yr. 2 – $4.7 million Yr. 3 – $5.8 million Revenue decoupli
• $5.8 million — .9 million Yr. 2 – $4.7 million Yr. 3 – $5.8 million Revenue decoupling mechanisms Continu
• $7.6 million — and other matters are not met: Yr. 1 – $7.6 million Yr. 2 – $8.5 million Yr. 3 – $11.5 mi
• $8.5 million — not met: Yr. 1 – $7.6 million Yr. 2 – $8.5 million Yr. 3 – $11.5 million Regulatory reco
• $11.5 million — million Yr. 2 – $8.5 million Yr. 3 – $11.5 million Regulatory reconciliations Reconcilia
• $1,398 million — ctric average net plant target Yr. 1 – $1,398 million Yr. 2 – $1,471 million Yr. 3 – $1,737
• $1,471 million — target Yr. 1 – $1,398 million Yr. 2 – $1,471 million Yr. 3 – $1,737 million Average rate
• $1,737 million — illion Yr. 2 – $1,471 million Yr. 3 – $1,737 million Average rate base Yr. 1 – $1,293 mill
• $1,293 million — 737 million Average rate base Yr. 1 – $1,293 million Yr. 2 – $1,393 million Yr. 3 – $1,646
• $1,393 million — te base Yr. 1 – $1,293 million Yr. 2 – $1,393 million Yr. 3 – $1,646 million Capital Inves
• $1,646 million — illion Yr. 2 – $1,393 million Yr. 3 – $1,646 million Capital Investments Yr. 1 – $311 mill
• $311 million — 6 million Capital Investments Yr. 1 – $311 million Yr. 2 – $349 million Yr. 3 – $315 mil

Filing Documents

• ed-20241108.htm (8-K) — 61KB
• 0001047862-24-000075.txt ( ) — 217KB
• ed-20241108.xsd (EX-101.SCH) — 2KB
• ed-20241108_def.xml (EX-101.DEF) — 14KB
• ed-20241108_lab.xml (EX-101.LAB) — 26KB
• ed-20241108_pre.xml (EX-101.PRE) — 15KB
• ed-20241108_htm.xml (XML) — 3KB

01 Other Events

Item 8.01 Other Events. In November 2024, a subsidiary of Consolidated Edison, Inc., Orange and Rockland Utilities, Inc. (O&R), the New York State Department of Public Service (NYSDPS) and other parties entered into a joint proposal for new electric and gas rate plans for the three-year period January 2025 through December 2027 (the Joint Proposal). The Joint Proposal is subject to approval by the New York State Public Service Commission (NYSPSC). The following tables contain a summary of the Joint Proposal. O&R New York – Electric Effective period January 2025 – December 2027 Base rate changes Yr. 1 – $(13.1) million (a) Yr. 2 – $24.8 million (a) Yr. 3 – $44.1 million (a) Amortizations to income of net regulatory (assets) and liabilities Yr. 1 – $(4.5) million Yr. 2 – $(5.4) million Yr. 3 – $(6.4) million Other revenue sources Potential earnings adjustment mechanism incentives for energy efficiency and other potential incentives of up to: Yr. 1 – $3.9 million Yr. 2 – $4.7 million Yr. 3 – $5.8 million Revenue decoupling mechanisms Continuation of reconciliation of actual to authorized electric delivery revenues. Recoverable energy costs Continuation of current rate recovery of purchased power and fuel costs. Negative revenue adjustments Potential charges if certain performance targets relating to service, reliability, safety and other matters are not met: Yr. 1 – $7.6 million Yr. 2 – $8.5 million Yr. 3 – $11.5 million Regulatory reconciliations Reconciliation of expenses for pension and other postretirement benefits, environmental remediation costs, property taxes (b), energy efficiency program (c), major storms, low-income bill credits, uncollectible expenses (d), late payment charges (d), and certain other costs to amounts reflected in rates. Net utility plant reconciliations Target levels reflected in rates: Electric average net plant target Yr. 1 – $1,398 million Yr. 2 – $1,471 million Yr. 3 – $1,737 million Average rate base Yr. 1 – $1,

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, each registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CONSOLIDATED EDISON, INC. CONSOLIDATED EDISON COMPANY OF NEW YORK, INC. By /s/ Joseph Miller Joseph Miller Vice President, Controller and Chief Accounting Officer Date: November 8, 2024 -5-

View Full Filing

View this 8-K filing on SEC EDGAR