CONSOLIDATED EDISON INC
For the period ended Apr 8, 2026. Filed Apr 8, 2026.
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Apr 8, 2026 · Filed Apr 8, 2026
Contents
Operating Objectives
"Operating Objective" tracks objectives that are directly linked to specific, pre-established, and measurable goals in four main areas: (i) employee and public safety, (ii) environment and sustainability, (iii) operational excellence, and (iv) customer experience in the operations of Con Edison of New York and Orange & Rockland. The Operating Objective accounts for 35% of the target Weighting for the Named Executive Officers with 30% for Con Edison of New York and 5% for Orange & Rockland, excluding Mr. Ketschke. As the Named Executive Officer with primary responsibility for Con Edison of New York, Mr. Ketschke's target Weighting is 35%.
56 Consolidated Edison, Inc. Proxy Statement
The Compensation Committee believes that the operating objectives support the Company’s mission and priorities – providing a workplace that allows employees to realize their full potential, providing investors with a fair return, and improving the quality of life in the communities served by the Company.
| Employee and Public Safety | We are committed to achieving a zero-harm workplace. We work as a team to protect the safety of the public and each one of us. |
|---|---|
| Environment and Sustainability | We value environmental stewardship and strive to make wise and effective use of natural resources while controlling costs for our customers and creating long-term value for our stockholders. |
| Operational Excellence | We stand behind our work and look for new ways to excel at our jobs. We talk openly about ethical choices, follow all laws, rules, and regulations, adapt to change, and invest in the skills of our employees. |
| Customer Experience | We consider the customer’s point of view, make customer priorities our own, and seek to elevate the experience of doing business with us. |
Consolidated Edison, Inc. Proxy Statement 57
Con Edison of New York
The following table shows the Operating Objective targets and the Con Edison of New York's performance relative to the components. Each operational metric constituting the Operating Objectives is weighted 3.5%. The Named Executive Officers, excluding Mr. Ketschke, have a total Weighting of 30%.
| Performance Hurdles · Payout Leverage · Weighting Earned(11) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Objectives · Operational Metric · Minimum · Target · Maximum · Minimum · Target · Maximum · Year-end Result · Payout Relative to Target · Weighting Earned % | ||||||||||||
| Employee and Public Safety | Significant High Hazard Injuries(1) | 100% workplan | NA | 0 | 50% | N/A | 200% | 2 High Hazard injuries, completed Workplan | 50.0% | 1.8% | ||
| Gas Made Safe(2) | 90.0% | 95.0% | 99.3% | 50% | 100% | 200% | 99.7% | 200% | 7.0% | |||
| Operating Errors (3) | 46 | 42 | 37 | 50% | 100% | 200% | 37 | 200% | 7.0% | |||
| Environment and Sustainability | SF6 Gas Emissions(4) | 7,200 | 6,000 | 5,000 | 50% | 100% | 200% | 4,727 | 200% | 7.0% | ||
| Clean Energy - Lifetime Tons CO2 Reduced(5) | 1,832 | 2,291 | 2,520 | 50% | 100% | 200% | 2,463 | 175.1% | 6.1% | |||
| Operational Excellence | Reliability Performance Metrics(6) | 97% | 98% | 100% | 50% | 100% | 200% | 99.9% | 195.0% | 6.8% | ||
| Capital Project Execution(7) | 14 | 17 | 20 | 50% | 100% | 200% | 20.0 | 200% | 7.0% | |||
| Network and non-network SAIFI/CAIDI and Network SAIDI(8) | 3 | 4 | 4 + <=7.69 (100%) - <=6.16 (200%) performance on Network SAIDI | 75% | 100% | 200% | 4 | 166.7% | 5.8% | |||
| Customer Experience | Call Answer Rate(9) | 65.0% | 67.5% | 69.0% | 50% | 100% | 200% | 71.7% | 200% | 7.0% | ||
| Customer Satisfaction(10) | >=3.65 | 3.85 | >=4.05 | 50% | 100% | 200% | 3.95 | 150% | 5.3% | |||
| 60.8% | ||||||||||||
(1)Significant High Hazard injuries refers to certain hazardous injuries that can occur within Con Edison of New York's operations. Workplan refers to targets set within the organization to prevent high hazard injuries from operations.
(2)Gas Made Safe refers to the work that is done to prevent or eliminate gas leaks.
(3)Operating Errors refers to actions or omissions that did or could have resulted in an unsafe working condition or other negative impacts on operations.
(4)SF6 Gas Emission refers to the company's goal to continue efforts to reduce the amount of SF6 gas lost from operations.
(5)Clean Energy - Lifetime Tons CO2 Reduced refers to the measurement of the lifetime carbon emission reductions from heat pumps installed through Con Edison of New York beneficial electrification programs and electric vehicles enabled by chargers installed through the Con Edison of New York PowerReady Program.
(6)Reliability Performance Metrics refers to goals set internally within the organization to achieve certain performance targets.
(7)Capital Project Execution tracks certain identified projects or programs against their set milestones and cost targets.
(8)Network and non-network SAIFI/CAIDI refers to electric reliability performance targets as measured by network and non-network metrics using SAIDI (System Average Interruption Frequency Index) and CAIDI (Customer Average Interruption Duration Index).
(9)Call Answer Rate refers to the percentage of calls answered by a company representative within a specified time of the customer’s request to speak.
(10)Customer Satisfaction refers to the results of customer satisfaction surveys taken at certain set times.
(11)Actual performance of Con Edison of New York relative to the operating objective targets. The payout relative to the operating objectives target is interpolated for actual performance between the minimum, target, and maximum performance target.
58 Consolidated Edison, Inc. Proxy Statement
Orange & Rockland
The following table shows the Operating Objective targets and the Orange & Rockland's performance relative to the components. Each operational metric constituting the Operating Objectives is weighted 3.5%. The Named Executive Officers, excluding Mr. Ketschke, have a total Weighting of 5%.
| Performance Hurdles · Payout Leverage · Weighting Earned(11) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Objectives · Operational Metric · Minimum · Target · Maximum · Minimum · Target · Maximum · Year-end Result · Payout Relative to Target · Weighting Earned % | ||||||||||||
| Employee and Public Safety | Significant High Hazard Injuries(1) | NA | NA | 0 | N/A | N/A | 200% | 0 | 200% | 7.0% | ||
| Gas Made Safe(2) | >=87% | 92.0% | 95.0% | 50% | 100% | 200% | 94.0% | 167% | 5.8 | |||
| Operating Errors(3) | 6 | 4 | 1 | 50% | 100% | 200% | 4 | 100% | 3.5% | |||
| Environment and Sustainability | Lifetime Gross Energy Savings from HP Technology installed through O&R Clean Heat Program(4) | 375,000 | 500,000 | 625,000 | 50% | 100% | 200% | 679,498 | 200% | 7.0% | ||
| Clean Energy Interconnection(5) | 3 | 4 | all 4 must meet the response target 100% of time | 75% | 100% | 200% | 4 | 200% | 7.0% | |||
| Operational Excellence | Reliability Performance Metrics(6) | N/A | N/A | 100% | N/A | N/A | 200% | 100% | 200% | 7.0% | ||
| Capital Project Execution(7) | 12 | 14 | 16 | 50% | 100% | 200% | 15 | 150% | 5.3% | |||
| Network and non-network SAIFI/CAIDI and Network SAIDI(8) | 3 | 4 | 4, 10% improvement to targets | 75% | 100% | 200% | 4 | 196% | 6.9% | |||
| Customer Experience | Call Answer Rate(9) | 59.0% | 61.0% | > 80% | N/A | 100% | 200% | 70.7% | 151.1% | 5.3% | ||
| PSC Complaint Rate(10) | 1.1 | 1.0 | 0.2 | N/A | 100% | 200% | 0.30 | 187.5% | 6.6% | |||
(1)Significant High Hazard Injuries refers to certain hazardous injuries that can occur within Orange & Rockland's operations.
(2)Gas Made Safe refers to the work that is done to prevent or eliminate gas leaks.
(3)Operating Errors refers to actions or omissions that did or could have resulted in an unsafe working condition or other negative impacts on operations.
(4)Lifetime Gross Energy Savings from Heat Pump Technology refers to reducing the lifetime gross energy savings from heat pump technologies installed.
(5)Clean Energy Interconnections refers to meeting customer expectations for electric vehicle and solar clean energy interconnections.
(6)Reliability Performance Metrics refers to goals set internally within the organization to achieve certain performance targets.
(7)Capital Project Execution tracks certain identified projects or programs against their set milestones for completion and cost targets.
(8)Network and non-network SAIFI/CAIDI refers to electric reliability performance targets as measured by network and non-network metrics using SAIDI (System Average Interruption Frequency Index) and CAIDI (Customer Average Interruption Duration Index).
(9)Call Answer Rate refers to the percentage of calls answered by a company representative within a specified time of the customer’s request to speak.
(10)PSC Complaint Rate refers to Orange & Rockland's compliance with a New York Public Service Commission order targeting certain complaint metrics.
(11)Actual performance of Orange & Rockland relative to the operating objective targets. The payout relative to the operating objectives target is interpolated for actual performance between the minimum, target, and maximum performance target.
Consolidated Edison, Inc. Proxy Statement 59
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.