Con Edison has been powering New York for nearly 200 years, dating back to our start as the New York Gas Light Company in 1823. Since then, we have built upon a foundation of strong leadership and sound strategy to become the world-class utility we are today. We are proud of the award-winning reliable service we have provided for generations to our customers, shareholders, employees, and communities.
Operationally, safety and sustainability are at the forefront of everything we do. Our employees work to ensure a zero-harm environment for the public, our employees, and the environment. In 2014, we reduced customer emissions through initiatives such as oil-to-gas conversions and energy efficiency improvements. Our infrastructure investments gave our customers greater control and expanded their energy choices. These initiatives not only benefit our customers, but they improve our community and better protect and preserve our environment.
Con Edison has been powering New York for nearly 200 years, and we rely on our sustainability strategy to prepare us for the next 200. Keeping our company viable for the future will allow us to continue to deliver the world-class service our customers expect and deserve. We know people are looking for more energy choices, and we must adjust our business model to meet their needs. All the while, we must operate in the most environmentally responsible way and continue to improve the fabric of our communities.
Con Edison has been committed to the concepts of sustainability for over two decades – we have learned from our challenges and are proud of our successes. We recognize that sustainability is a journey, and while we have achieved much, we continue to look for ways to improve and meet the needs of our stakeholders.
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In December 2013, the New York State Public Service Commission announced that it would transform its regulation of the distribution system. This effort would drive change through five core policy objectives.
From our early history lighting gas lamps to today’s cutting edge electric vehicle and smart-grid technologies, Con Edison has powered New York for 200 years. A population of nearly ten million across New York City and nearby counties depend on us to provide safe, reliable, and affordable energy to light and warm their homes, run their businesses, and help the region grow. The theme of this year’s sustainability report – 5 Businesses, 1 Goal: Evolving for the Future – is reflective of our changing industry, customer needs, and regulator priorities.
Con Edison’s strategy is to deliver reliable energy services and provide a stable foundation for supporting New York’s economy. At Con Edison, we have two strategic documents – our Integrated Long Range Plan and our Sustainability Strategy. These companion documents work together to identify ways that we can add value for all of our stakeholders through the services we provide, our different business models, and our commitment to excellence in all that we do.
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The five companies and respective businesses that comprise Con Edison are influenced by many factors that are difficult to predict, and that involve uncertainties that may materially affect actual operating results, cash flows and financial condition. The companies have established an enterprise risk management program to identify, assess, manage and monitor its major business risks based on established criteria for the severity of an event, the likelihood of its occurrence, and the programs in place to control the event or reduce the impact.
