d California with an aggregate capacity of 23 MW (alternating current (AC)). Con Edison Energy: Con Edison Energy provides services to manage the dispatch, fuel requirements and risk management activities for 4,465 MW of generating plants and merchant transmission in the northeastern United States owned by unrelated parties and manages energy supply assets leased from others. Among other things, the company also provides wholesale hedging and risk management services to Con Edison Solutions and Con Edison Development. Con Edison Development: Con Edison Development develops, owns and operates energy infrastructure. In January 2016, Con Edison Development purchased a company that is the owner of a 106 MW (AC) solar electric production project in Texas. Con Edison Transmission Con Edison Transmission invests in electric and gas transmission projects through its wholly-owned subsidiaries, Consolidated Edison Transmission, LLC (CET Electric) and Con Edison Gas Midstream, LLC (CET Gas). CET Electric, which was formed in 2014, is investing in a company that is expected to own electric transmission assets being developed in New York. CET Gas, which was formed in 2016, is investing in a company developing a proposed gas transmission project in West Virginia and Virginia. CET Electric: In January 2016, Con Edison transferred a wholly-owned subsidiary, CET Electric, to another wholly-owned subsidiary, Con Edison Transmission. In November 2014, CET Electric, along with affiliates of certain other New York transmission owners, formed New York Transco LLC (NY Transco). CET Electric owns a 45.7 percent interest in NY Transco. NY Transco’s transmission projects are expected to be developed initially by CECONY and other New York transmission owners and, subject to New York State Public Service Commission (NYSPSC) approval, sold to NY Transco. CET Gas: In January 2016, Con Edison Transmission formed CET Gas and CET Gas acquired a 12.5 percent ownership interest in Mountain Valley Pipeline, a company developing a proposed gas transmission project in West Virginia and Virginia. Utility Regulation The Utilities (CECONY and O&R) are subject to regulation by the NYSPSC, which under the New York Public Service Law, is authorized to set the terms of service and the rates the Utilities charge for providing service in New York. O&R’s New Jersey subsidiary, RECO, is subject to similar regulation by the New Jersey Board of Public Utilities. O&R’s Pennsylvania subsidiary, Pike, is subject to similar regulation by the Pennsylvania Public Utility Commission. The Utilities are subject to regulation by the Federal Energy Regulatory Commission with respect to electric transmission rates and to regulation by the NYSPSC with respect to electric and gas retail commodity sales and local delivery service. The electric and gas transmission projects in which CET Electric and CET Gas invest are also subject to regulation by the Federal Energy Regulatory Commission. Environmental Matters CECONY has participated for several years in voluntary initiatives with the United States Environmental Protection Agency to reduce its methane and sulfur hexafluoride emissions. CECONY is subject to carbon dioxide emissions regulations established by New York State under the Regional Greenhouse Gas Initiative. Significant Events In April 2016, Crestwood Equity Partners has announced a new joint venture with Consolidated Edison. This is a new partnership with Consolidated Edison around Crestwood's Northeast Storage and Transportation business. As a part of the formation of the joint venture, Crestwood would contribute the existing natural gas storage and transportation business to a new entity, known as Stagecoach Gas Services, and Consolidated Edison will indirectly purchase a 50% equity interest in Stagecoach Gas Services from Crestwood. In June 2016, Consolidated Edison, Inc. and Crestwood Equity Partners LP announced that they have completed the formation of a new joint venture to own and develop Crestwood's existing natural gas pipeline and storage business located in southern New York and northern Pennsylvania. History Conso
consolidated edison inc (ED:New York)
4 Irving Place
New York, NY 10003
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