January 18, 2017 5:16 AM ET

Electric Utilities

Company Overview of Orange and Rockland Utilities, Inc.

Company Overview

Orange and Rockland Utilities, Inc. operates as a regulated electric and gas utility. It transmits and distributes electricity. The company provides electric services in southeastern New York, and the adjacent areas of northern New Jersey and eastern Pennsylvania; and gas services in southeastern New York and adjacent areas of eastern Pennsylvania. It operates 3,994 miles of overhead electric distribution lines; 1,889 miles of underground electric distribution lines; 547 miles of electric transmission lines; and 1,869 miles of gas pipeline. The company serves approximately 300,000 electric customers and 128,000 natural gas customers. It serves residential customers, as well as commercial, in...

One Blue Hill Plaza

Pearl River, NY 10965

United States

Founded in 1899

Phone:

845-352-6000

Key Executives for Orange and Rockland Utilities, Inc.

Chief Executive Officer and President
Age: 51
Chief Financial Officer, Principal Accounting Officer and Controller
Vice President of Operations
Chairman, Chairman of Con Edison, Chief Executive Officer of Con Edison, President of Con Edison and Director of Con Edison
Age: 74
Group President of Energy and Communications - Con Edison
Age: 73
Compensation as of Fiscal Year 2016.

Orange and Rockland Utilities, Inc. Key Developments

Consolidated Edison, Inc., Consolidated Edison Company of New York, Inc. and Orange and Rockland Utilities, Inc. Enter into Credit Agreement

On December 7, 2016, Consolidated Edison, Inc. and its subsidiaries Consolidated Edison Company of New York, Inc. and Orange and Rockland Utilities, Inc. entered into a Credit Agreement, dated as of December 7, 2016, (the Credit Agreement) among the Companies, the lenders party thereto (the Lenders) and Bank of America, N.A., as Administrative Agent. The Credit Agreement terminates the Credit Agreement, dated as of October 27, 2011, among the Companies, the lenders party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent. Under the Credit Agreement, the Lenders committed to provide loans and letters of credit, on a revolving credit basis, in an aggregate amount of up to $2.25 billion of credit available, with the full amount available to Con Edison of New York, $1 billion available to Con Edison (subject to increase up to $1.5 billion) and $200 million available to O&R (subject to increase up to $250 million if the necessary regulatory approvals are requested and obtained), including up to $1.2 billion of letters of credit. Subject to certain conditions, the Companies and one or more Lenders or additional lenders may increase by up to $500 million the aggregate principal amount of loans available under the Credit Agreement, with availability to each of the Companies proportionate to availability prior to the increase. Each Company will be severally obligated with respect to loans made to it, and letters of credit issued on its behalf, under the Credit Agreement. None of the Companies is responsible for the obligations under the Credit Agreement of any company other than itself. The Companies intend to use the Credit Agreement to support their commercial paper programs. Loans and letters of credit issued under the Credit Agreement may also be used for other general corporate purposes. Any borrowings under the Credit Agreement would generally be at variable interest rates. Interest and fees for loans and letters of credit under the Credit Agreement generally reflect the respective credit ratings of the Companies. The Lenders' commitments under the Credit Agreement to make a loan to, or issue a letter of credit on behalf of, a company terminate on December 7, 2021, unless extended for additional one-year terms as provided therein, and are subject to certain conditions, including that there be no Event of Default or event which with notice or the lapse of time would become an Event of Default with respect to that company, that the representations and warranties of the company contained in the Credit Agreement (not including that the company did not have a material adverse change) be true on and as of the date of such loan or issuance and, in the case of Con Edison of New York and O&R, that the company shall have received required regulatory approvals.

Similar Private Companies By Industry

Company Name Region
3 Phases Renewables, LLC United States
Abacus Resources Energy, LLC United States
Access Energy, LLC United States
Adams Electric Cooperative, Inc. United States
Adams-Columbia Electric Cooperative United States

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

The information and data displayed in this profile are created and managed by S&P Global Market Intelligence, a division of S&P Global. Bloomberg.com does not create or control the content. For inquiries, please contact S&P Global Market Intelligence directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Rush University United States
Bloomberg L.P. United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact Orange and Rockland Utilities, Inc., please visit www.oru.com. Company data is provided by S&P Global Market Intelligence. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.