ED 10-K Annual Reports

Consolidated Edison, Inc. (ED) reported a net income for common stock of $2,023 million, or $5.66 per share, in 2025, a notable increase from $1,820 million, or $5.26 per share, in 2024. This financial growth was driven by robust performance across its primary utility operations, Consolidated Edison Company of New York (CECONY) and Orange & Rockland Utilities (O&R). The company continued its significant investment in upgrading and reinforcing its energy delivery systems, with approximately $4.9 billion invested in 2025, and substantial capital expenditures planned through 2030 to support infrastructure improvements and the transition to a clean energy future. Financially, Con Edison plans to fund its extensive capital requirements through a combination of internally generated funds, long-term debt issuances, and common equity issuances. The company also announced significant rate plan approvals for CECONY covering 2026-2028, which are expected to support its capital investments and provide a fair return to investors. While facing a dynamic regulatory and economic environment, including increasing capital needs for clean energy initiatives and potential supply chain cost pressures, Con Edison remains focused on delivering safe, reliable, and increasingly sustainable energy services to its customers.

Consolidated Edison, Inc. (ED) reported a decrease in net income for common stock in 2024 to $1.82 billion, or $5.26 per share, down from $2.52 billion, or $7.25 per share, in 2023. However, adjusted earnings (non-GAAP) saw an increase to $1.87 billion, or $5.40 per share, from $1.76 billion, or $5.07 per share, in 2023, indicating operational improvements or normalization of certain expenses. The company's utilities significantly invested $4.7 billion in 2024 to upgrade their energy delivery systems, with substantial capital expenditure plans continuing over the next five years, signaling a strong commitment to infrastructure modernization and reliability. Con Edison Transmission is evaluating strategic alternatives for its investments in Mountain Valley Pipeline, LLC (MVP) and Honeoye Storage Corporation (Honeoye), which could impact future strategic direction and financial reporting. The company also continues to manage its capital structure through a combination of internally generated funds and significant debt and equity issuances planned through 2029 to meet its capital requirements. Investors should note the ongoing regulatory processes, including rate plan adjustments and audits, which are critical to the company's financial performance.

Consolidated Edison, Inc. (Con Edison) reported its fiscal year 2023 results, highlighting stable performance from its core regulated utility businesses (CECONY and O&R) despite the sale of its Clean Energy Businesses earlier in the year. CECONY, the primary subsidiary, continued to demonstrate resilience with increased operating revenues in its electric segment, driven by rate increases, while managing higher operating and maintenance expenses. The gas segment saw a decrease in operating revenues, partly due to lower gas purchased for resale. O&R's electric and gas operations also experienced revenue shifts, with electric revenues down slightly and gas revenues seeing a decrease due to lower purchased gas costs. The company's capital investments remain focused on infrastructure upgrades and reliability, with significant expenditures planned for CECONY's electric and gas operations to support New York's clean energy goals and address reliability needs. Con Edison Transmission continues its strategic investments in electric transmission projects, contributing to the broader clean energy transition. The company maintained its financial stability and access to capital markets, with credit ratings remaining solid.

Consolidated Edison, Inc. (ED) operates as a regulated utility primarily through its subsidiaries Consolidated Edison Company of New York, Inc. (CECONY) and Orange and Rockland Utilities, Inc. (O&R), providing electric, gas, and steam services to customers in New York City, Westchester County, and parts of northern New Jersey. The company also has interests in clean energy businesses and electric transmission projects. In a significant development, Con Edison has agreed to sell its Clean Energy Businesses to RWE Renewables America, LLC, a transaction expected to close in the first quarter of 2023. This strategic divestiture allows Con Edison to focus on its core regulated utility operations. The company is committed to investing in reliability, resilience, and clean energy solutions critical for its New York customers, while navigating evolving environmental regulations and clean energy mandates, including New York's Climate Leadership and Community Protection Act.

Consolidated Edison, Inc. (Con Edison) reported its 2021 fiscal year results, highlighting a stable performance from its core utility operations (CECONY and O&R) which form the majority of its business. The company continues to invest in infrastructure to ensure reliability and resilience, particularly in the face of climate change impacts like severe weather events. Con Edison is actively managing its Clean Energy Businesses and Con Edison Transmission segments, with strategic alternatives being considered for the former and impairments noted in the latter due to specific project challenges (e.g., Mountain Valley Pipeline). Regulatory frameworks in New York and New Jersey remain central to operations, influencing rate plans and cost recovery, with the company actively engaged in rate case filings to support future investments. The company's financial position remains solid, supported by consistent dividend payments and access to capital markets, though it is navigating the ongoing impacts of the COVID-19 pandemic on customer payments and supply chains.

Consolidated Edison, Inc. (Con Edison) reported its 2020 fiscal year results, highlighting stable performance from its core regulated utility businesses, Con Edison Company of New York (CECONY) and Orange and Rockland Utilities (O&R). Despite the economic impacts of COVID-19, which led to increased bad debt provisions and reduced business activity, the company's revenue decoupling mechanisms in New York largely insulated its regulated delivery revenues from volume fluctuations. Con Edison's Clean Energy Businesses continued to expand its renewable energy portfolio, contributing positively to overall results, although Con Edison Transmission faced challenges with its investment in the Mountain Valley Pipeline, leading to a significant impairment charge. The company maintained its commitment to shareholder returns through consistent dividend payments and emphasized ongoing investments in infrastructure for reliability and resilience.

Consolidated Edison, Inc. (Con Edison) reported its 2019 annual results, highlighting continued investment in its regulated utility businesses (CECONY and O&R) alongside growth in its clean energy and transmission segments. The company's core operations, primarily CECONY, serve a substantial customer base in New York City and Westchester County with electric, gas, and steam services. O&R provides similar services to customers in southeastern New York and northern New Jersey. The Clean Energy Businesses focus on renewable electric generation and energy infrastructure projects, while Con Edison Transmission invests in electric and gas transmission facilities. Con Edison's financial performance in 2019 reflected the stability of its regulated utility operations, supported by rate plan adjustments and mechanisms like revenue decoupling. While overall net income saw a slight decrease compared to 2018, driven by factors like the Clean Energy Businesses' performance and higher operating expenses, the company maintained its commitment to shareholder value through dividend payments. Significant capital expenditures were directed towards infrastructure reliability, modernization, and clean energy initiatives, funded through a combination of internally generated funds and external borrowings. The company continues to navigate evolving regulatory landscapes, including initiatives like Reforming the Energy Vision (REV), and faces ongoing environmental considerations, particularly related to climate change adaptation and remediation efforts.

Consolidated Edison, Inc. (Con Edison) reported strong performance for the fiscal year ended December 31, 2018, driven primarily by its regulated utility operations in New York City and Westchester County, executed through its subsidiary Consolidated Edison Company of New York (CECONY), and to a lesser extent, Orange and Rockland Utilities (O&R). The company demonstrated resilience through its diverse business segments, including regulated utilities and contracted clean energy assets. Key financial highlights include stable operating revenues from utility operations, supported by effective rate plan mechanisms that mitigate volume fluctuations. Investments in infrastructure, particularly for reliability and resilience, continue to be a strategic focus, contributing to the company's long-term growth outlook. Despite some headwinds from increased operational and maintenance expenses and higher interest expenses, Con Edison managed its capital structure effectively, maintaining a solid common equity ratio and credit ratings.

Consolidated Edison, Inc. (Con Edison) and its subsidiaries, primarily Consolidated Edison Company of New York, Inc. (CECONY) and Orange and Rockland Utilities, Inc. (O&R), reported stable performance in their regulated utility businesses for the fiscal year ending December 31, 2017. The company's core operations in electric, gas, and steam delivery across New York City, Westchester County, and parts of New Jersey are underpinned by regulated rate plans that generally allow for the recovery of operating costs and capital investments, providing a degree of revenue stability. Beyond its utility operations, Con Edison has strategically expanded its Clean Energy Businesses and Con Edison Transmission segments, focusing on renewable energy projects and infrastructure investments. These non-regulated segments contributed to overall revenue, although their performance can be more volatile than the regulated utility segments. The company's financial health remains robust, supported by consistent dividend payouts and a strong commitment to capital expenditures aimed at maintaining and upgrading its extensive infrastructure, ensuring reliable service delivery while adapting to evolving energy landscapes and regulatory frameworks, such as New York's Reforming the Energy Vision (REV) initiative.

Consolidated Edison, Inc. (Con Edison) reported its 2016 fiscal year results, highlighting a stable performance primarily driven by its regulated utility operations in New York City and Westchester County, managed through its subsidiary Consolidated Edison Company of New York (CECONY), and in southeastern New York and northern New Jersey through Orange and Rockland Utilities (O&R). The company continues to invest in infrastructure modernization and clean energy initiatives as part of its "Reforming the Energy Vision" (REV) strategy, aimed at improving efficiency and reliability while embracing distributed energy resources. Con Edison's Clean Energy Businesses also contributed to earnings, particularly through its growing portfolio of renewable energy projects. Financially, Con Edison demonstrated resilience, with its core utility businesses providing a steady stream of revenue and cash flow. The company's commitment to shareholder value is evident in its continued dividend growth. Investments in transmission infrastructure and clean energy projects signal a forward-looking strategy to adapt to evolving energy landscapes and regulatory frameworks, positioning the company for long-term sustainable growth. The company also reported on its capital expenditures, which were significant for infrastructure upgrades and new investments, funded through a combination of operating cash flow and debt.

Consolidated Edison, Inc. (Con Edison) presented a stable financial performance in its 2015 10-K filing, with its core utility operations in New York City and surrounding areas demonstrating resilience. The company's primary business segments, Consolidated Edison Company of New York (CECONY) and Orange and Rockland Utilities (O&R), contributed significantly to overall revenues and net income, benefiting from approved rate plans that allow for the recovery of operating costs and capital investments. Con Edison also continued to expand its presence in competitive energy businesses and transmission projects, aiming to diversify its earnings and capitalize on growth opportunities in renewable energy infrastructure. Financially, Con Edison maintained a solid capital structure and adequate liquidity, supported by consistent cash flows from its regulated operations. The company's forward-looking capital expenditure plans indicated a continued commitment to maintaining and upgrading its utility infrastructure, investing in new energy technologies, and pursuing strategic growth initiatives. Despite facing regulatory reviews and evolving energy policies such as the Reforming the Energy Vision (REV) proceeding, Con Edison demonstrated its ability to adapt and manage its business effectively, with a focus on providing reliable and sustainable energy services to its customers while delivering shareholder value through dividends and earnings growth.

Consolidated Edison, Inc. (Con Edison) reported net income of $1,092 million, or $3.73 per diluted share, for the year ended December 31, 2014. This represents an increase from the $1,062 million, or $3.62 per diluted share, reported in 2013. Earnings from ongoing operations, which exclude certain one-time items, also showed improvement, rising to $1,140 million, or $3.89 per diluted share, from $1,112 million, or $3.80 per diluted share, in the prior year. The company's core utility businesses, primarily CECONY and O&R, continue to be the main drivers of earnings, supported by approved rate plans designed to cover service costs and capital investments. Con Edison is actively investing in its energy delivery systems, with significant capital expenditures planned for 2015. The company anticipates funding these capital requirements through internally generated funds and the issuance of long-term debt, without the need for issuing common equity beyond existing plans. Despite a significant explosion and fire in March 2014 that led to investigations and potential liabilities, the company is navigating regulatory changes and planning for future growth in its service territories.

Consolidated Edison, Inc. (Con Edison) and its subsidiary Consolidated Edison Company of New York, Inc. (CECONY) reported total operating revenues of $12.354 billion for the year ended December 31, 2013. Net income for common stock was $1.062 billion, or $3.61 per diluted share, a decrease from the previous year primarily due to a $95 million charge related to Lease In/Lease Out (LILO) transactions and lower competitive energy business results. The company's regulated utility businesses, CECONY and Orange and Rockland Utilities (O&R), continue to be the primary drivers of earnings, with approved rate plans designed to recover costs and provide a return on invested capital. Con Edison invested significantly in infrastructure upgrades, with CECONY alone investing $2.135 billion in 2013 to enhance its energy delivery systems.

Consolidated Edison, Inc. (Con Edison) and its wholly-owned subsidiary, Consolidated Edison Company of New York, Inc. (CECONY), reported solid financial performance for the fiscal year ended December 31, 2012. The company's regulated utility businesses, CECONY and Orange and Rockland Utilities (O&R), continued to be the primary drivers of earnings, benefiting from approved rate plans designed to recover costs and provide a reasonable return on invested capital. These rate plans include mechanisms like revenue decoupling, which helps stabilize delivery revenues despite fluctuations in energy delivery volumes. Despite a challenging operating environment, including the significant impact of Superstorm Sandy which caused extensive damage and service interruptions, Con Edison demonstrated resilience. The company incurred substantial costs related to storm response and restoration, a portion of which were deferred as regulatory assets for future recovery. Con Edison's competitive energy businesses also contributed to overall results, though their performance can be more volatile due to market dynamics. The company maintained a strong capital structure and liquidity, supporting its ongoing investments in infrastructure upgrades and reliability improvements.

Consolidated Edison, Inc. (Con Edison) and its subsidiary, Consolidated Edison Company of New York, Inc. (CECONY), reported operating revenues of $12.94 billion for the fiscal year ended December 31, 2011, a slight decrease from $13.33 billion in 2010. Net income for Con Edison rose to $1.05 billion, or $3.57 per diluted share, compared to $992 million, or $3.47 per diluted share, in the prior year. The company's regulated utility businesses, CECONY and Orange and Rockland Utilities, Inc. (O&R), continued to be the primary drivers of earnings, benefiting from approved rate plans designed to recover costs and provide a return on invested capital. Con Edison's capital expenditures were significant in 2011, totaling $1.89 billion for regulated utility construction and $114 million for competitive energy businesses, reflecting ongoing investments in infrastructure upgrades and modernization. The company's financial health remains stable, with a common equity ratio of 52.5% for Con Edison and 52.0% for CECONY at year-end 2011, alongside a reported ratio of earnings to fixed charges well above regulatory requirements. The company also highlighted its commitment to environmental sustainability and managing the risks associated with its operations and the energy markets.

Consolidated Edison, Inc. (Con Edison) and its subsidiary, Consolidated Edison Company of New York, Inc. (CECONY), reported solid financial performance for the fiscal year ended December 31, 2010. Con Edison's primary earnings driver remains its regulated utility businesses, CECONY and Orange and Rockland Utilities (O&R), which are expected to continue generating the majority of the company's income. The company reported increased operating revenues for both Con Edison and CECONY, driven by rate plan adjustments and increased energy delivery volumes. Con Edison's net income for common stock rose to $992 million in 2010, an increase from $868 million in 2009, with diluted earnings per share of $3.47. The company highlighted significant investments in upgrading its energy delivery infrastructure, with CECONY investing $1.87 billion and O&R investing $135 million. Con Edison also maintained a stable common equity ratio, around 50%, and demonstrated a consistent ability to access capital markets to fund its operations and investments.

Consolidated Edison, Inc. (Con Edison) and its subsidiary, Consolidated Edison Company of New York, Inc. (CECONY), reported their fiscal year results ending December 31, 2009. The company primarily generates revenue from regulated utility businesses (electricity, gas, and steam delivery) in New York City and surrounding areas, as well as competitive energy businesses. For the year, Con Edison reported net income of $868 million, a decrease from $1,196 million in 2008, largely due to the absence of a significant gain on the sale of electricity generating plants in the prior year and other operational impacts. The company's regulated utility operations remain the core of its earnings. CECONY's electric, gas, and steam rate plans, along with O&R's electric and gas rate plans, are designed to recover costs and provide a regulated return on investment. Con Edison also highlighted its ongoing capital investments in infrastructure upgrades, the impact of regulatory decisions on its rate plans, and its exposure to financial and commodity market risks. Despite a challenging economic environment, the company maintained its commitment to reliable energy services and environmental sustainability.

Consolidated Edison, Inc. (Con Edison) and its subsidiary, Consolidated Edison Company of New York, Inc. (Con Edison of New York), reported on their fiscal year ended December 31, 2008. Con Edison's primary business operations are conducted through its regulated utility subsidiaries, Con Edison of New York and Orange and Rockland Utilities, Inc. (O&R), which together serve millions of customers across New York, New Jersey, and Pennsylvania. The company also engages in competitive energy businesses. Con Edison's financial performance in 2008 showed a net income of $1.196 billion, or $4.37 per diluted share, an increase from $929 million ($3.47 per diluted share) in 2007. This improvement was largely driven by a significant gain from the sale of Con Edison Development's generation projects, which offset ongoing operational costs and market challenges. The utility segments, particularly Con Edison of New York, faced increased operating and maintenance expenses, partially due to reserves for power outages and higher pension costs. Despite these pressures, regulated revenue streams, bolstered by rate adjustments and revenue decoupling mechanisms, provided a degree of stability.

Consolidated Edison, Inc. (Con Edison) and its subsidiary, Consolidated Edison Company of New York, Inc. (Con Edison of New York), filed their combined 2007 10-K on February 22, 2008. The report details the financial performance and operational highlights of the utility holding company and its primary regulated utility subsidiary, which serves the New York City metropolitan area. Con Edison's business is primarily driven by its regulated utility operations, Con Edison of New York and Orange and Rockland Utilities (O&R), which provide electric, gas, and steam services. The company also maintains competitive energy businesses, though utility operations are the core earnings generators. The filing highlights steady operational performance, with a focus on capital investments for infrastructure reliability and growth. Investors can anticipate continued regulatory oversight impacting rates and earnings, as well as a strategic focus on managing operational costs and environmental compliance.

Consolidated Edison, Inc. (Con Edison) and its subsidiary, Consolidated Edison Company of New York, Inc. (Con Edison of New York), filed their 2006 10-K report. The company primarily operates as a regulated utility, providing electricity, gas, and steam to customers in New York City and Westchester County, and also operates electric and gas utility services through Orange and Rockland Utilities, Inc. (O&R) in surrounding areas. Con Edison also has a segment dedicated to competitive energy businesses. Financially, the company demonstrated steady performance, with operating revenues and net income showing growth compared to the previous year, despite milder weather impacting sales volumes. The company highlighted significant capital investments in its utility infrastructure, essential for meeting growing energy demands and maintaining reliability. Regulatory approvals for rate plans are critical to the company's earnings, with new filings anticipated to reflect capital investments. The company also manages market risks through derivative financial instruments and emphasizes its strong liquidity and capital resources.

CONSOLIDATED EDISON INC (ED) filed its 10-K for the fiscal year ending December 31, 2005, on February 22, 2006. The report details the financial performance and operational activities of Consolidated Edison, Inc. and its primary subsidiary, Consolidated Edison Company of New York, Inc. (Con Edison of New York), along with other subsidiaries like Orange and Rockland Utilities, Inc. (O&R). The company operates as a regulated utility, providing electric, gas, and steam services primarily in New York City and surrounding areas, as well as some operations in New Jersey and Pennsylvania. The filing highlights the company's ongoing significant capital investment programs to maintain and upgrade its infrastructure, driven by projected increases in peak electric demand. Financially, the company reported an increase in net income for 2005 compared to 2004, primarily driven by rate increases in its utility segments, warmer weather-related sales, and improved performance in competitive energy businesses, partially offset by higher operating expenses. The company's primary risks include regulatory actions, changes in energy market prices, and the substantial ongoing utility construction program. Con Edison maintained its strong financial position with robust credit ratings and a stable dividend payout.

Consolidated Edison, Inc. (Con Edison) and its subsidiaries, Consolidated Edison Company of New York, Inc. (Con Edison of New York) and Orange and Rockland Utilities, Inc. (O&R), reported stable performance for the fiscal year ended December 31, 2004. The utility segments, which form the core of Con Edison's operations, demonstrated resilience, with Con Edison of New York experiencing a slight decrease in electric operating revenues primarily due to a non-cash regulatory charge, while its gas operations saw a modest increase driven by a new rate plan. O&R's operations also reflected the impact of regulatory adjustments and customer delivery volume changes. The company highlighted significant capital expenditure plans for the upcoming years, focusing on maintaining and upgrading its energy delivery infrastructure to meet growing customer demand and reliability needs. Con Edison also continued its strategy of divesting non-core assets, with the planned sale of Con Edison Communications announced in December 2004. The company maintained its dividend payments to shareholders, underscoring its commitment to returning value while managing its financial obligations.

Consolidated Edison, Inc. (Con Edison) and its subsidiaries, Consolidated Edison Company of New York, Inc. (Con Edison of New York) and Orange and Rockland Utilities, Inc. (O&R), reported their fiscal year 2003 results. The Utilities, which form the core of Con Edison's operations, experienced steady demand for their electric, gas, and steam services, driven by factors like weather and customer growth. Despite facing regulatory rate structures that aim to recover energy costs, the company's financial performance was impacted by operational expenses and strategic decisions within its unregulated subsidiaries. The company's unregulated businesses, which include energy services, development, energy supply, and communications, presented a mixed picture. While Con Edison Solutions saw growth, significant impairment charges were recognized in the telecommunications and generation sectors due to adverse market conditions, impacting overall profitability. Con Edison is focusing on optimizing existing assets within these unregulated segments. Looking ahead, Con Edison and its subsidiaries anticipate continued investment in utility infrastructure to meet growing customer demand and maintain reliability. Regulatory filings for rate increases in gas and steam services are in progress for Con Edison of New York, aiming to reflect updated operational costs. The company remains focused on navigating the evolving regulatory landscape and managing market risks to deliver stable returns to shareholders.

Consolidated Edison, Inc. (Con Edison) filed its 2002 10-K report on February 27, 2003, detailing its operations across regulated utility segments (electric, gas, steam) and unregulated businesses. The report highlights the company's substantial revenue generation from its core regulated utility operations, primarily electricity distribution in New York City and Westchester County, as well as gas and steam services. Con Edison's financial performance in 2002 showed a decrease in earnings per share compared to 2001, largely due to lower operating and maintenance expenses in the regulated segments, offset by certain charges and the impact of economic conditions and weather. The company's balance sheet reflects significant investments in utility plant, with ongoing capital expenditures focused on system restoration, load growth, and reliability improvements. Con Edison's strategy involves managing regulatory environments across New York, New Jersey, and Pennsylvania, while also navigating the increasing competition within the energy sector. The company is actively engaged in transitioning its operations to accommodate market changes, including electric retail access programs. Despite significant environmental and legal proceedings, particularly related to Superfund sites and asbestos claims, Con Edison maintains that these do not materially affect its financial position. The company's financial market risk management focuses on interest rate and commodity price fluctuations. Overall, the report provides a comprehensive overview of Con Edison's operational structure, financial health, and strategic priorities as it operates within a dynamic and regulated industry.

Consolidated Edison, Inc. (Con Edison) and its subsidiaries reported for the fiscal year ended December 31, 2001. Con Edison, Inc. is a holding company with its primary operations through its regulated utility subsidiaries, Consolidated Edison Company of New York, Inc. (Con Edison of New York) and Orange and Rockland Utilities, Inc. (O&R). The company's business segments include regulated electric, gas, and steam operations, alongside its unregulated subsidiaries which focus on energy services, trading, development, and telecommunications. The company's financial performance reflects significant rate reductions implemented in its electric segment, lower energy costs contributing to improved operating income compared to the previous year, and the impact of warmer weather on energy sales. Key developments during the year included the sale of most of Con Edison of New York's electric generating capacity and its nuclear generating unit, which impacted financial reporting through gains and losses that were deferred as regulatory assets and liabilities. The company also noted the impact of the September 11, 2001 attacks on its facilities, with significant costs incurred for restoration and permanent replacement of damaged infrastructure, which are being managed through insurance and regulatory deferrals for future recovery from customers. Overall, Con Edison's operational focus remains on providing essential energy services while navigating industry restructuring and managing capital requirements for infrastructure improvements and reliability.

This filing represents Consolidated Edison Inc.'s (ED) 10-K Annual Report for the fiscal year ending in 1997, filed on March 27, 1998. As a regulated utility, Con Edison's financial performance is largely influenced by its operating environment, including regulatory frameworks and infrastructure investments. The report provides a comprehensive overview of the company's operations, financial condition, and business strategy during this period. Investors should pay close attention to factors affecting revenue generation, operating expenses, capital expenditures, and any regulatory changes that could impact future profitability and dividend sustainability. Key areas of focus for investors would include the company's ability to manage costs effectively while maintaining the reliability of its essential services, its approach to capital investment for maintaining and upgrading its infrastructure, and its success in navigating the evolving regulatory landscape. The company's diversified utility operations, serving a large customer base, are a core strength, but also subject to inherent operational and regulatory risks that are detailed within the full report.