Welcome!

Web 2.0 Authors: Bernard Golden, Greg Ness, Roger Strukhoff, Lori MacVittie, Carmen Gonzalez

News Feed Item

Con Edison Offers Plans to Protect Customers and Energy Systems From Major Storms

Submits Rate Proposals as Part of Investments in Reliability

NEW YORK, NY -- (Marketwire) -- 01/25/13 -- Con Edison submitted plans today for major investments to protect critical equipment and customers from devastating storms like Superstorm Sandy that have struck Greater New York in recent years.

The company provided the New York State Public Service Commission (PSC) with details on long-term projects -- including putting flood-proof equipment in low-lying areas, building higher flood walls around facilities, reinforcing overhead equipment and/or putting some overhead lines underground to limit outages during storms.

The plans call for $1 billion in investments (click here: http://www.coned.com/documents/2013-rate-filings/$1-Billion-Storm-Investments.pdf) through 2016, some of which could be recovered through federal funding. As part of the $1 billion, Con Edison has already committed to spend $250 million this year and next on storm protection measures. The company said it was also committed to providing customers with more accurate, individual restoration times, as well as offering text messaging and other mobile communications for customers who prefer them.

To provide initial funding for the storm-protection effort, Con Edison proposed one-year delivery rates for electric, gas and steam services. The submission of new rate plans, which was delayed due to the company's focus on recovery from Sandy, reflects Con Edison's cost-control efforts and its obligation to invest in its systems for customers.

Con Edison President Craig S. Ivey said the company has sharpened its focus on controlling costs in recent years. The 13,000 men and women of Con Edison weave cost-consciousness into every task and project, Ivey said.

"Although the economy is improving, we are still working diligently to hold down costs for our customers," Ivey said. "At the same time, the increased frequency and damage of storms assaulting our area presents a major challenge. We must invest in our systems in new ways to maintain the safe, reliable service our customers deserve."

The rate plans, subject to an 11-month review by the PSC and other interested parties, would cover the period January 1, 2014 to December 31, 2014. (To view the filings, click here: http://www.coned.com/publicissues/2013ratefilings.asp.)

Electric Service

The filing seeks an additional $375 million in revenue to run the electric delivery system, the company's smallest electric delivery rate request since 2004, which would represent an overall customer bill increase of 3.3 percent. The typical monthly bill for a New York City resident (300kWhr) would rise from $81.64 to $84.55; for a typical Westchester residential customer (450 kWhr), the monthly bill would rise from $114.41 to $118.00. The typical monthly bill for a small business (600kWhr) would rise from $157.55 to $169.31.

The company expects the increase to be mitigated when certain contracts with non-utility generator units begin to expire in 2014. The expiration of these contracts is expected to save customers an estimated $46 million in 2014, and more in future years.

The filing also includes plans for approximately $800 million of storm-protection capital expenditures through 2016 for the electric system, including projects to place certain overhead distribution lines below ground; increase the height of flood walls for certain facilities; raise critical equipment; install submersible equipment; install additional switches and related smart grid technology; and reconfigure certain distribution networks.

Gas Service

For gas service, the filing seeks an additional $25 million in revenue, the smallest gas rate request by the company since 2000, which would result in an overall customer bill increase of 1.3 percent. The typical monthly gas heating bill for a residential heating customer would rise from $187.68 to $190.35. Businesses would see an increase from $349.24 to $351.88 per month.

The gas revenue increase the company is seeking is due to gas infrastructure needs. These include the connection to a new Spectra gas transmission pipeline in Lower Manhattan, and the construction of a 10-mile gas main from the Bronx to White Plains to improve the safety and reliability of Con Edison's gas distribution system.

Con Edison expects its natural gas infrastructure to grow significantly in the coming years due to the rapidly increasing gas usage resulting from oil-to-gas conversions. The conversions are due to both the declining cost of natural gas and to New York City's Clean Heat program that requires large buildings that burn No. 6 and No. 4 heating oil to discontinue their use over the next 20 years. The company expects that many large buildings will switch their heating systems to natural gas, producing additional revenues that should more than offset the company's investment in gas infrastructure to support these conversions.

The filing also includes plans for approximately $100 million of storm-protection capital expenditures through 2016 for the gas system, including projects for cover plates and remote emergency generators to address possible tunnel flooding and check valves to prevent water infiltration that could lead to over-pressurization of piping and equipment.

Steam Service

For steam service, the company is seeking a decrease of $5 million in revenue. This decrease would come in addition to an estimated $66 million in annual fuel cost savings as a result of the conversion of two Con Edison steam plants from burning fuel oil to burning natural gas.

These delivery rate and fuel cost reductions reflect the company's proactive approach to reduce steam system costs, and their combined effect is equivalent to an overall decrease in customers' bills of approximately 10.1 percent.

The filing also includes plans for approximately $100 million of storm-protection capital expenditures through 2016 for the steam system, including projects to install or increase the height of existing gates or barriers around facilities, seal perimeter walls and doors, and relocate equipment.

While today's submissions are for one-year rate plans, Con Edison said it was open to discussions to develop a multi-year rate plan for each service, with aggregate revenue targets for its electric, gas and steam systems of $272 million in 2015 and $351 million in 2016.

To hold down costs for customers, Con Edison has delayed or replaced new capital investments with targeted demand side management programs and works with customers to reduce their energy usage through energy-efficiency programs. Employees are paying a greater share of their health-insurance premiums, even as health-care costs rise.

The company has also improved how it prioritizes and manages work. An example is a new work management program for Electric Operations that is expected to save $45 million of capital and O&M expenses annually once fully deployed in late 2014.

Further, customers now pay a special charge called the Temporary18-a assessment due to a 2009 law that required the PSC to collect an additional assessment from utilities. The surcharge is scheduled to expire in March 2014. If the surcharge is not extended as recently proposed, customers would save approximately $128 million annually on electric, gas and steam services, reducing the impact of storm hardening costs.

The rate plans also reflect company actions to address new cyber security standards, including additional electronic and physical perimeters around critical cyber assets; upgrading control systems associated with critical infrastructure equipment by enhancing system monitoring; and establishing dedicated cyber security personnel who will be responsible for implementing and monitoring the company's improved cyber security policies and procedures.

The filing marks the first time Con Edison has filed rate plans simultaneously for electric, gas and steam services. The company believes this will produce efficiency in resolving questions and issues that apply to more than one service.

The rate plans and additional information are available at www.conEd.com/publicissues.

Con Edison is a subsidiary of Consolidated Edison, Inc. (NYSE: ED), one of the nation's largest investor-owned energy companies, with approximately $13 billion in annual revenues and $40 billion in assets. The utility provides electric, gas and steam service to more than three million customers in New York City and Westchester County, New York. For additional financial, operations and customer service information, visit conEd.com, our green site, conEd.com/thepowerofgreen, or Facebook at Power of Green.

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.

@ThingsExpo Stories
Samsung VP Jacopo Lenzi, who headed the company's recent SmartThings acquisition under the auspices of Samsung's Open Innovaction Center (OIC), answered a few questions we had about the deal. This interview was in conjunction with our interview with SmartThings CEO Alex Hawkinson. IoT Journal: SmartThings was developed in an open, standards-agnostic platform, and will now be part of Samsung's Open Innovation Center. Can you elaborate on your commitment to keep the platform open? Jacopo Lenzi: Samsung recognizes that true, accelerated innovation cannot be driven from one source, but requires a...
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at Internet of @ThingsExpo, James Kirkland, Chief Architect for the Internet of Things and Intelligent Systems at Red Hat, will describe how to revoluti...
The Internet of Things will greatly expand the opportunities for data collection and new business models driven off of that data. In her session at Internet of @ThingsExpo, Esmeralda Swartz, CMO of MetraTech, will discuss how for this to be effective you not only need to have infrastructure and operational models capable of utilizing this new phenomenon, but increasingly service providers will need to convince a skeptical public to participate. Get ready to show them the money! Speaker Bio: Esmeralda Swartz, CMO of MetraTech, has spent 16 years as a marketing, product management, and busin...
SYS-CON Events announced today that Red Hat, the world's leading provider of open source solutions, will exhibit at Internet of @ThingsExpo, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Red Hat is the world's leading provider of open source software solutions, using a community-powered approach to reliable and high-performing cloud, Linux, middleware, storage and virtualization technologies. Red Hat also offers award-winning support, training, and consulting services. As the connective hub in a global network of enterprises, partners, a...
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at Internet of @ThingsExpo, Robin Raymond, Chief Architect at Hookflash Inc., will walk through the shifting landscape of traditional telephone a...
SYS-CON Events announced today that Matrix.org has been named “Silver Sponsor” of Internet of @ThingsExpo, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Matrix is an ambitious new open standard for open, distributed, real-time communication over IP. It defines a new approach for interoperable Instant Messaging and VoIP based on pragmatic HTTP APIs and WebRTC, and provides open source reference implementations to showcase and bootstrap the new standard. Our focus is on simplicity, security, and supporting the fullest feature set.
BSQUARE is a global leader of embedded software solutions. We enable smart connected systems at the device level and beyond that millions use every day and provide actionable data solutions for the growing Internet of Things (IoT) market. We empower our world-class customers with our products, services and solutions to achieve innovation and success. For more information, visit www.bsquare.com.
How do APIs and IoT relate? The answer is not as simple as merely adding an API on top of a dumb device, but rather about understanding the architectural patterns for implementing an IoT fabric. There are typically two or three trends: Exposing the device to a management framework Exposing that management framework to a business centric logic • Exposing that business layer and data to end users. This last trend is the IoT stack, which involves a new shift in the separation of what stuff happens, where data lives and where the interface lies. For instance, it’s a mix of architectural style...
SYS-CON Events announced today that SOA Software, an API management leader, will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. SOA Software is a leading provider of API Management and SOA Governance products that equip business to deliver APIs and SOA together to drive their company to meet its business strategy quickly and effectively. SOA Software’s technology helps businesses to accelerate their digital channels with APIs, drive partner adoption, monetize their assets, and achieve a...
From a software development perspective IoT is about programming "things," about connecting them with each other or integrating them with existing applications. In his session at @ThingsExpo, Yakov Fain, co-founder of Farata Systems and SuranceBay, will show you how small IoT-enabled devices from multiple manufacturers can be integrated into the workflow of an enterprise application. This is a practical demo of building a framework and components in HTML/Java/Mobile technologies to serve as a platform that can integrate new devices as they become available on the market.
SYS-CON Events announced today that Utimaco will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Utimaco is a leading manufacturer of hardware based security solutions that provide the root of trust to keep cryptographic keys safe, secure critical digital infrastructures and protect high value data assets. Only Utimaco delivers a general-purpose hardware security module (HSM) as a customizable platform to easily integrate into existing software solutions, embed business logic and build s...
Connected devices are changing the way we go about our everyday life, from wearables to driverless cars, to smart grids and entire industries revolutionizing business opportunities through smart objects, capable of two-way communication. But what happens when objects are given an IP-address, and we rely on that connection, sometimes with our lives? How do we secure those vast data infrastructures and safe-keep the privacy of sensitive information? This session will outline how each and every connected device can uphold a core root of trust via a unique cryptographic signature – a “bir...
Internet of @ThingsExpo Silicon Valley announced on Thursday its first 12 all-star speakers and sessions for its upcoming event, which will take place November 4-6, 2014, at the Santa Clara Convention Center in California. @ThingsExpo, the first and largest IoT event in the world, debuted at the Javits Center in New York City in June 10-12, 2014 with over 6,000 delegates attending the conference. Among the first 12 announced world class speakers, IBM will present two highly popular IoT sessions, which will take place November 4-6, 2014 at the Santa Clara Convention Center in Santa Clara, Calif...
Almost everyone sees the potential of Internet of Things but how can businesses truly unlock that potential. The key will be in the ability to discover business insight in the midst of an ocean of Big Data generated from billions of embedded devices via Systems of Discover. Businesses will also need to ensure that they can sustain that insight by leveraging the cloud for global reach, scale and elasticity.
WebRTC defines no default signaling protocol, causing fragmentation between WebRTC silos. SIP and XMPP provide possibilities, but come with considerable complexity and are not designed for use in a web environment. In his session at Internet of @ThingsExpo, Matthew Hodgson, technical co-founder of the Matrix.org, will discuss how Matrix is a new non-profit Open Source Project that defines both a new HTTP-based standard for VoIP & IM signaling and provides reference implementations.

SUNNYVALE, Calif., Oct. 20, 2014 /PRNewswire/ -- Spansion Inc. (NYSE: CODE), a global leader in embedded systems, today added 96 new products to the Spansion® FM4 Family of flexible microcontrollers (MCUs). Based on the ARM® Cortex®-M4F core, the new MCUs boast a 200 MHz operating frequency and support a diverse set of on-chip peripherals for enhanced human machine interfaces (HMIs) and machine-to-machine (M2M) communications. The rich set of periphera...

SYS-CON Events announced today that Aria Systems, the recurring revenue expert, has been named "Bronze Sponsor" of SYS-CON's 15th International Cloud Expo®, which will take place on November 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Aria Systems helps leading businesses connect their customers with the products and services they love. Industry leaders like Pitney Bowes, Experian, AAA NCNU, VMware, HootSuite and many others choose Aria to power their recurring revenue business and deliver exceptional experiences to their customers.
The Internet of Things (IoT) is going to require a new way of thinking and of developing software for speed, security and innovation. This requires IT leaders to balance business as usual while anticipating for the next market and technology trends. Cloud provides the right IT asset portfolio to help today’s IT leaders manage the old and prepare for the new. Today the cloud conversation is evolving from private and public to hybrid. This session will provide use cases and insights to reinforce the value of the network in helping organizations to maximize their company’s cloud experience.
The Internet of Things (IoT) is making everything it touches smarter – smart devices, smart cars and smart cities. And lucky us, we’re just beginning to reap the benefits as we work toward a networked society. However, this technology-driven innovation is impacting more than just individuals. The IoT has an environmental impact as well, which brings us to the theme of this month’s #IoTuesday Twitter chat. The ability to remove inefficiencies through connected objects is driving change throughout every sector, including waste management. BigBelly Solar, located just outside of Boston, is trans...
SYS-CON Events announced today that Matrix.org has been named “Silver Sponsor” of Internet of @ThingsExpo, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Matrix is an ambitious new open standard for open, distributed, real-time communication over IP. It defines a new approach for interoperable Instant Messaging and VoIP based on pragmatic HTTP APIs and WebRTC, and provides open source reference implementations to showcase and bootstrap the new standard. Our focus is on simplicity, security, and supporting the fullest feature set.