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|Con Edison CEO: Smart Meters, Technology and Renewables Will Improve Service to Customers|
“Our company’s performance continues to be strong and we have encouraging growth and development opportunities as we look ahead,” said McAvoy. “Over the next three years, we expect to be investing over
McAvoy said he was extremely proud of Con Edison’s 15,000 employees, noting that improved safety efforts involving close collaboration with the company’s unions have contributed to record safety performance, with a 70 percent reduction in recordable injuries since 2009. He also lauded employee efforts during the recent March nor’easters, and when employees left their families to assist with restorations in
McAvoy also referred to Con Edison’s strides in improving public safety by introducing new technology and making infrastructure investments, noting the development of sensors placed in underground manholes that can detect deterioration of electric components and alert the company before an equipment failure.
Con Edison’s chairman noted the company is piloting the use of methane detectors in customer homes that will alert them to the presence of natural gas. He also reported the company is ramping up its natural gas main replacement program to 100 miles a year by 2021, and added that the company is working with
McAvoy also highlighted the importance of cyber and physical security, noting focus on prevention, detection, investigation and response. The company works with outside security experts, as well as federal, state and local law enforcement agencies.
McAvoy also said that the company is encouraging incorporation of new technologies and distributed energy resources that support New York State’s Reforming the Energy Vision (REV) initiative. He noted that the new Hudson Yards project on Manhattan’s West Side will include a combined heat and power project that is part of a microgrid. He also cited
He added that technical advancements around battery storage are increasing consumer willingness to purchase electric vehicles, and estimated that by 2025 electric vehicles will constitute 20 percent of all new vehicle sales. He added that Con Edison will invest
McAvoy observed that the company’s emphasis on energy efficiency continues, with over 340,000 customers taking advantage of
The company’s peak natural gas demand is up 30 percent over 6 years, according to Con Edison’s chairman, yet because of uncertainty about the availability of future supply, Con Edison is taking a two-pronged approach to best serve customers’ upcoming needs. First, the company is working to identify the best opportunity to improve the efficiency and effectiveness of existing supplies. The company also is initiating a program that doubles incentives for gas energy efficiency, and is rolling out the first demand response program for gas, where customers will be paid to use less gas at times of peak total use.
The company’s clean energy businesses now have large renewable facilities in 17 states, representing a
Con Edison Transmission invests in both natural gas and electric transmission outside the service area of the regulated utilities. McAvoy noted the Mountain Valley Pipeline, a
McAvoy also alluded to the company’s strong financial performance, mentioning that this was the 44th consecutive year that shareholders received an annual dividend increase.
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