Consolidated Edison’s (ED) principal business operations are managed by Consolidated Edison Company of New York (or CECONY), Orange & Rockland Utilities, and competitive energy businesses. Below is the operating structure of its subsidiary companies.
CECONY’s principal business operations include regulated electric, gas, and steam delivery businesses. It provides electric services to nearly 3.3 million customers in New York and Westchester County. CECONY also delivers gas to 1.1 million customers in Manhattan, the Bronx, and some parts of Queens. It operates the largest steam distribution system in the United States. It produces and delivers 23,000 MMlb (Million pounds) of steam annually to nearly 1,700 customers in Manhattan.
Orange & Rockland and its subsidiaries Rockland Electric Company (or RECO) and Pike County Light and Power Company (or Pike) provide electric services to 300,000 customers in New York. O&R also delivers gas to 100,000 customers in southeastern New York and adjacent areas of northeastern Pennsylvania.
Competitive energy business
Consolidated Edison handles its competitive energy business through its three wholly-owned subsidiaries: Con Edison Solutions, Con Edison Energy, and Con Edison Development. These subsidiaries serve retail customers by the sale of electricity purchased in wholesale markets and provide energy-related products. This segment accounts for a small portion of contributions in total revenues of ConEd. It results in windfall benefits when the demand for power is high.
Duke Energy (DUK), Con Edison’s largest peer and largest utility (XLU) by market capitalization, serves 7.2 million customers in the Carolinas, Florida, and Ohio. FirstEnergy (FE) by comparison serves 6 million customers in Pennsylvania, New York, and Maryland. American Electric Power (AEP) operates in the same area and serves 5.4 million customers.