SYS-CON MEDIA Authors: Elizabeth White, Sean Houghton, Glenn Rossman, Ignacio M. Llorente, Xenia von Wedel

News Feed Item

Con Edison CEO John McAvoy: Customer at Heart of Everything We Do

Tells Shareholders Region's Strong Economy Postions Company for More Growth

NEW YORK, NY -- (Marketwired) -- 05/19/14 -- Citing incentives that encourage people to use less energy, and a $2.5 billion annual investment in system safety and reliability, Consolidated Edison, Inc. (Con Edison) (NYSE: ED) Chairman, President and CEO John McAvoy told company shareholders at today's annual meeting that the "customer must be at the heart of everything we do."

"Over the last five years, nearly 200,000 homeowners and businesses have taken advantage of our energy-efficiency offerings with the help of $150 million in incentives," McAvoy noted. "The work has kept significant carbon emissions out of the atmosphere, the equivalent of taking more than 43,000 cars off the road each year."

McAvoy said Con Edison spends $2.5 billion each year to maintain and upgrade the company's extensive energy infrastructure, noting the company was again recognized as a national winner of a system-wide reliability award in 2013. Con Edison is spending $1 billion over four years to protect its systems from violent weather and new smart grid technology is helping the company operate more efficiently. Increased automation, remote-control technology, and grid sensors closely monitor and operate the company's systems, resulting in fewer, smaller, and shorter outages.

"I believe that the customer must be at the heart of everything we do," said McAvoy. "Whether we are offering ways to save energy at home or work, finding technologies that minimize outages, or campaigning to cut taxes hidden in our bills, our duty is to advocate for and support our customers.

"Giving our customers what they need and want fuels our three-part business strategy. First, we give customers tools and incentives to help them use less energy in their homes and businesses. Next, we maintain high levels of reliability by making wise investments in infrastructure. Finally, we enrich the lives of the 10 million people we serve by giving them green energy choices and supporting local nonprofits."

Regarding the regional economy and growth, McAvoy said Con Edison expects 1.3 percent growth in electric peak demand and 3.3 percent growth in natural gas demand annually over the next five years. He noted residential building permits across the region are expected to rise 43 percent this year, while high tech employment has jumped 21 percent since 2006, almost double the national average.

McAvoy said the company's gas business is growing more rapidly due to lower natural gas prices, environmental advantages over oil, and to New York City regulations that encourage building owners to convert heating systems from oil to gas. In 2013, four times as many large buildings converted to natural gas as two years prior.

He also spoke about investments in security to stay ahead of potential physical and cyber threats to the company's electric, gas, steam, and customer information systems. He noted collaborative efforts undertaken with other industry leaders, law enforcement, and government agencies.

McAvoy said that risks inherent in the energy delivery business can be extremely challenging, discussing the explosion and collapse of two buildings in East Harlem in March. He said Con Edison responded rapidly to the tragedy, meeting with families who lost loved ones, people who were injured or lost their homes, and local businesses that were impacted. The company also provided support and financial assistance to those in need.

"We have been working with the National Transportation Safety Board to identify the cause," McAvoy said. "I assure you that we are committed to understanding what transpired, and will apply what we learn, so we emerge smarter, safer and more resilient."

Consolidated Edison, Inc. is one of the nation's largest investor-owned energy companies, with approximately $12 billion in annual revenues and $41 billion in assets. The company provides a wide range of energy-related products and services to its customers through the following subsidiaries: Consolidated Edison Company of New York, Inc., a regulated utility providing electric, gas, and steam service in New York City and Westchester County, New York; Orange and Rockland Utilities, Inc., a regulated utility serving customers in a 1,350 square mile area in southeastern New York state and adjacent sections of northern New Jersey and northeastern Pennsylvania; Consolidated Edison Solutions, Inc., a retail energy supply and services company; Consolidated Edison Energy, Inc., a wholesale energy services company; and Consolidated Edison Development, Inc., a company that participates in infrastructure projects.

CONNECT WITH US:
Facebook: https://www.facebook.com/ConEdison
Twitter: https://twitter.com/conedison
YouTube: http://www.youtube.com/conedisonny
Flickr: http://www.flickr.com/photos/conedison/sets/72157627767618832/

Contact:
Media Relations
(212) 460-4111

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
ScriptRock makes GuardRail, a DevOps-ready platform for configuration monitoring. Realizing we were spending way too much time digging up, cataloguing, and tracking machine configurations, we began writing our own scripts and tools to handle what is normally an enormous chore. Then we took the concept a step further, giving it a beautiful interface and making it simple enough for our bosses to understand. We named it GuardRail after its function - to allow businesses to move fast and stay sa...
SYS-CON Media announced today that Sematext launched a popular blog feed on DevOps Journal with over 6,000 story reads over the weekend. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done. Sematext is a globally distributed organization that builds innovative Cloud and On Premises solutions for performance monitoring, alerting an...
SYS-CON Events announced today Isomorphic Software, the global leader in high-end, web-based business applications, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Isomorphic Software is the global leader in high-end, web-based business applications. We develop, market, and support the SmartClient & Smart GWT HTML5/Ajax platform, combining the productivity and performance of traditional desktop software ...
In high-production environments where release cycles are measured in hours or minutes — not days or weeks — there's little room for mistakes and no room for confusion. Everyone has to understand what's happening, in real time, and have the means to do whatever is necessary to keep applications up and running optimally. DevOps is a high-stakes world, but done well, it delivers the agility and performance to significantly impact business competitiveness.
"Our premise is Docker is not enough. That's not a bad thing - we actually love Docker. At ActiveState all our products are based on open source technology and Docker is an up-and-coming piece of open source technology," explained Bart Copeland, President & CEO of ActiveState Software, in this SYS-CON.tv interview at DevOps Summit at Cloud Expo®, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover ...
"BSQUARE is in the business of selling software solutions for smart connected devices. It's obvious that IoT has moved from being a technology to being a fundamental part of business, and in the last 18 months people have said let's figure out how to do it and let's put some focus on it, " explained Dave Wagstaff, VP & Chief Architect, at BSQUARE Corporation, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com...
Leysin American School is an exclusive, private boarding school located in Leysin, Switzerland. Leysin selected an OpenStack-powered, private cloud as a service to manage multiple applications and provide development environments for students across the institution. Seeking to meet rigid data sovereignty and data integrity requirements while offering flexible, on-demand cloud resources to users, Leysin identified OpenStack as the clear choice to round out the school's cloud strategy. Additional...
Verizon Enterprise Solutions is simplifying the cloud-purchasing experience for its clients, with the launch of Verizon Cloud Marketplace, a key foundational component of the company's robust ecosystem of enterprise-class technologies. The online storefront will initially feature pre-built cloud-based services from AppDynamics, Hitachi Data Systems, Juniper Networks, PfSense and Tervela. Available globally to enterprises using Verizon Cloud, Verizon Cloud Marketplace provides a one-stop shop fo...
SYS-CON Media announced today that Aruna Ravichandran, VP of Marketing, Application Performance Management and DevOps at CA Technologies, has joined DevOps Journal’s authors. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done. Aruna's inaugural article "Four Essential Cultural Hacks for DevOps Newbies" discusses how to demonstrate the...
The move in recent years to cloud computing services and architectures has added significant pace to the application development and deployment environment. When enterprise IT can spin up large computing instances in just minutes, developers can also design and deploy in small time frames that were unimaginable a few years ago. The consequent move toward lean, agile, and fast development leads to the need for the development and operations sides to work very closely together. Thus, DevOps become...
SYS-CON Events announced today that IDenticard will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. IDenticard™ is the security division of Brady Corp (NYSE: BRC), a $1.5 billion manufacturer of identification products. We have small-company values with the strength and stability of a major corporation. IDenticard offers local sales, support and service to our customers across the United States and Canada...
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, p...
SYS-CON Events announced today that AIC, a leading provider of OEM/ODM server and storage solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. AIC is a leading provider of both standard OTS, off-the-shelf, and OEM/ODM server and storage solutions. With expert in-house design capabilities, validation, manufacturing and production, AIC's broad selection of products are highly flexible and are conf...