FOR IMMEDIATE RELEASE Contact: Media Relations
May 23, 2019 212-460-4111
10 a.m.
CON EDISON FORECASTS LOWER SUMMER BILLS;
CUSTOMERS CAN SAVE EVEN MORE
WITH ENERGY EFFICIENCY UPGRADES
Company Invests $1.5 Billion in System Upgrades for Hot
Season
NEW YORK - Con Edison is forecasting lower bills for residential
customers during this summer season, compared to last year, as the
energy company invests more than $1.5 billion in its overhead and
underground electric delivery systems to meet usage demands on peak
hot days.
Footage of infrastructure work. Credit Con Edison A typical New
York City residential customer using 350 kilowatt hours per month
can expect a 6.5-percent decrease from $102.84 in 2018 to $96.20 in
the June-to-September period. A typical Westchester residential
customer using 500 kilowatt hours per month can expect an average
decrease of 16.2 percent from $134.68 in 2018 to $112.88.
The projected decrease in residential bills is largely due to
lower supply costs. Con Edison buys electricity on the wholesale
market and provides it to customers at cost.
Monthly bills for business customers are expected to be about
the same as last year. A New York City business customer using
10,800 kilowatt hours with a peak demand of 31 kilowatts can expect
average monthly summer bills to increase slightly from $2,156.55 in
2018 to $2,201.92 this year.
Innovation & Investments
The company is also expanding new and evolving technologies such
as battery storage. In separate projects, batteries are in place in
Westchester, the Bronx and Queens to support the grid on sweltering
summer days.
"We strive to lead the transition to the clean energy future
that our customers want and that new technology makes possible,"
said Tim Cawley, president of Con Edison. "In addition to
developing battery storage and installing smart meters, we're
making it easier for our customers to choose energy efficiency,
solar and other products and services that can help reduce monthly
bills and provide a cleaner environment."
In a Con Edison pilot project, five White Plains electric school
buses, normally idle during the summer months, will have their
batteries fully charged and on standby to provide 75 kilowatts to
the electric grid on peak hot days.
Con Edison has installed a 10.6-megawatt hour (MWh) battery
system on company property in Ozone Park, Queens. Con Edison will
charge the batteries when demand for power is low and then
discharge that power at peak times, taking pressure off the grid.
On City Island, Con Edison has installed a 1-MWh battery system
that will provide power to the grid as needed.
Other investments focus on upgrades and reinforcements,
including 27 network transformers and 58 overhead transformers. The
company also plans to upgrade 61 underground feeder sections and
262 overhead spans. For video footage of infrastructure work, click
here.
Con Edison projects that peak demand for electricity this summer
will reach 13,270 megawatts. The all-time record is 13,322
megawatts, which occurred at 5 p.m. on July 19, 2013.
The company is always exploring new ways to keep service
reliable. Con Edison has installed 4,000 remote monitoring devices
in manholes to detect heat and gas in underground structures. By
detecting heat and gas, the company can help identify needed
repairs before electrical equipment fails. Con Edison also takes
infrared images of underground cables to look for hot spots that
might indicate a repair is needed.
Save More with Energy Efficiency Upgrades
Customers can save money by using less energy. Con Edison offers
customers incentives to make money-saving upgrades to their homes
and businesses. For this summer, Con Edison is offering residential
customers:
A $25 rebate for buying a new Energy Star room air
conditioner;
$25 or more in rewards for enrolling a standard window air
conditioner in the company's Smart AC program;
Up to $90 in rebates and rewards for a Wi-Fi-enabled AC. The
company will provide a free Wi-Fi device that lets a customer
control a room air conditioner through an app;
A $50 rebate for buying a smart thermostat and another $85 for
registering it with Con Edison.
Since 2009, Con Edison's energy efficiency programs have helped
about 650,000 customers make upgrades preventing 5 million tons of
carbon emissions. That's the equivalent of taking more than 1
million cars off the road.
As of 2018, the electric upgrades save nearly 2 million MWh of
usage a year. The electric upgrades have saved 7.8 million MWh
since 2009.
The company also encourages customers to consider whether solar
energy is right for them. Customers have completed nearly 26,000
projects that produce about 248 megawatts of clean, renewable
power. That is equal to 325,500 MWh a year, enough to prevent more
than 230,000 tons of carbon emissions, or the equivalent of taking
49,000 cars off the road.
The customers who have chosen energy efficiency and solar help
Con Edison keep service reliable by lowering the amount of power
flowing on the grid at peak times.
Con Edison is a subsidiary of Consolidated Edison, Inc. [NYSE:
ED], one of the nation's largest investor-owned energy companies,
with approximately $12 billion in annual revenues and $55 billion
in assets. The utility delivers electricity, natural gas and steam
to 3.5 million customers in New York City and Westchester County,
N.Y. For financial, operations and customer service information,
visit www.conEd.com . For energy efficiency information, visit
coned.com/energyefficiency.
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(END) Dow Jones Newswires
May 23, 2019 10:23 ET (14:23 GMT)
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