CONSOLIDATED EDISON INC
For the period ended Dec 31, 2024. Filed Feb 20, 2025.
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FY2024 · Filed Feb 20, 2025
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Con Edison Transmission
Con Edison Transmission, through its subsidiaries, invests in electric transmission projects and manages, through joint ventures, both electric and gas assets while seeking to develop electric transmission projects.
The following table presents Con Edison Transmission’s ownership interests in New York Transco’s electric transmission projects.
| Ownership Interest | In-Service Date/Anticipated | Base Return on Common Equity (ROE) plus | Common Equity Ratio | |
|---|---|---|---|---|
| Transmission Owner Transmission Solutions (TOTS) (a) | 45.7% | 2016 | 9.5% plus 0.50% = 10% | 53% |
| New York Energy Solution (NYES) (b) | 45.7% | 2023/2025 | 9.65% plus 1% =10.65% | 53% |
| Propel NY Energy (c) | 41.7% of New York Transco's share | 2030 | 10.3% plus 1% = 11.3% | 53% |
(a)TOTS is a group of three electric power bulk transmission projects ($217 million total cost) constructed on the New York bulk transmission system to increase transfer capability between upstate and downstate New York. In January 2025, New York Transco filed a petition with the FERC requesting an updated base ROE of 10.9 percent.
(b)The NYES project was constructed to relieve transmission congestion between upstate and downstate (estimated cost of approximately $800 million). In June 2024, construction of the Dover Station, an additional network upgrade to support the NYES project, resumed following the reissuance of its permits and is anticipated to be completed by June 2025. In January 2025, New York Transco filed a petition with the FERC requesting an updated base ROE of 10.9 percent.
(c)Propel NY Energy, a project that is under development jointly with the NYPA, is a 90-mile electric transmission project that is expected to increase high voltage transmission connections between Long Island and the rest of New York State. New York Transco’s share of the estimated cost of the Propel NY Energy project is $2,200 million, excluding interconnection costs and the cost of projects expected to be built by local transmission owners, including CECONY. The siting, construction and operation of the project will require approvals and permits from the appropriate governmental agencies and authorities, including the NYSPSC.
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