Last Year's New York Subway Outage Will Cost ConEd $202 Million
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The New York subway station power failure last year that sent commuters into an uproar and triggered a state investigation will end up costing utility owner Consolidated Edison Inc. $202 million.
State regulators ordered ConEd’s Consolidated Edison Co. of New York utility to take measures including maintenance on equipment that serves the subway system. The New York-based company said in a filing late Thursday that it incurred $65 million in costs last year as a result and expects to rack up another $137 million in costs in 2018.