|By Marketwired .||
|January 25, 2013 11:14 AM EST||
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.)
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.
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.
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.
Through WebRTC, audio and video communications are being embedded more easily than ever into applications, helping carriers, enterprises and independent software vendors deliver greater functionality to their end users. With today’s business world increasingly focused on outcomes, users’ growing calls for ease of use, and businesses craving smarter, tighter integration, what’s the next step in delivering a richer, more immersive experience? That richer, more fully integrated experience comes about through a Communications Platform as a Service which allows for messaging, screen sharing, video...
Sep. 3, 2015 04:00 AM EDT Reads: 727
Containers are not new, but renewed commitments to performance, flexibility, and agility have propelled them to the top of the agenda today. By working without the need for virtualization and its overhead, containers are seen as the perfect way to deploy apps and services across multiple clouds. Containers can handle anything from file types to operating systems and services, including microservices. What are microservices? Unlike what the name implies, microservices are not necessarily small, but are focused on specific tasks. The ability for developers to deploy multiple containers – thous...
Sep. 3, 2015 03:15 AM EDT
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal today!
Sep. 3, 2015 02:30 AM EDT Reads: 1,677
SYS-CON Events announced today that the "Second Containers & Microservices Expo" will take place November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities.
Sep. 2, 2015 11:45 PM EDT Reads: 644
In his session at @ThingsExpo, Lee Williams, a producer of the first smartphones and tablets, will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater. He will explain how M2M controllers work through wirelessly connected remote controls; and specifically delve into a retrofit option that reverse-engineers control codes of existing conventional controller systems so they don't have to be replaced and are instantly converted to become smart, connected devices.
Sep. 2, 2015 11:15 PM EDT Reads: 235
Akana has announced the availability of the new Akana Healthcare Solution. The API-driven solution helps healthcare organizations accelerate their transition to being secure, digitally interoperable businesses. It leverages the Health Level Seven International Fast Healthcare Interoperability Resources (HL7 FHIR) standard to enable broader business use of medical data. Akana developed the Healthcare Solution in response to healthcare businesses that want to increase electronic, multi-device access to health records while reducing operating costs and complying with government regulations.
Sep. 2, 2015 10:00 PM EDT Reads: 314
SYS-CON Events announced today that IceWarp will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. IceWarp, the leader of cloud and on-premise messaging, delivers secured email, chat, documents, conferencing and collaboration to today's mobile workforce, all in one unified interface
Sep. 2, 2015 06:00 PM EDT Reads: 469
SYS-CON Events announced today that Micron Technology, Inc., a global leader in advanced semiconductor systems, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Micron’s broad portfolio of high-performance memory technologies – including DRAM, NAND and NOR Flash – is the basis for solid state drives, modules, multichip packages and other system solutions. Backed by more than 35 years of technology leadership, Micron's memory solutions enable the world's most innovative computing, consumer,...
Sep. 2, 2015 05:30 PM EDT Reads: 275
SYS-CON Events announced today the Containers & Microservices Bootcamp, being held November 3-4, 2015, in conjunction with 17th Cloud Expo, @ThingsExpo, and @DevOpsSummit at the Santa Clara Convention Center in Santa Clara, CA. This is your chance to get started with the latest technology in the industry. Combined with real-world scenarios and use cases, the Containers and Microservices Bootcamp, led by Janakiram MSV, a Microsoft Regional Director, will include presentations as well as hands-on demos and comprehensive walkthroughs.
Sep. 2, 2015 04:45 PM EDT Reads: 404
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies leverage disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advanced analytics, and DevOps to advance innovation and increase agility. Specializing in designing, imple...
Sep. 2, 2015 04:15 PM EDT Reads: 362
With the Apple Watch making its way onto wrists all over the world, it’s only a matter of time before it becomes a staple in the workplace. In fact, Forrester reported that 68 percent of technology and business decision-makers characterize wearables as a top priority for 2015. Recognizing their business value early on, FinancialForce.com was the first to bring ERP to wearables, helping streamline communication across front and back office functions. In his session at @ThingsExpo, Kevin Roberts, GM of Platform at FinancialForce.com, will discuss the value of business applications on wearable ...
Sep. 2, 2015 04:00 PM EDT
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises are using some form of XaaS – software, platform, and infrastructure as a service.
Sep. 2, 2015 04:00 PM EDT Reads: 1,589
The 3rd International WebRTC Summit, to be held Nov. 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA, announces that its Call for Papers is now open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 15th International Cloud Expo, 6th International Big Data Expo, 3rd International DevOps Summit and 2nd Internet of @ThingsExpo. WebRTC (Web-based Real-Time Communication) is an open source project supported by Google, Mozilla and Opera that aims to enable bro...
Sep. 2, 2015 03:45 PM EDT Reads: 1,569
WebRTC services have already permeated corporate communications in the form of videoconferencing solutions. However, WebRTC has the potential of going beyond and catalyzing a new class of services providing more than calls with capabilities such as mass-scale real-time media broadcasting, enriched and augmented video, person-to-machine and machine-to-machine communications. In his session at @ThingsExpo, Luis Lopez, CEO of Kurento, will introduce the technologies required for implementing these ideas and some early experiments performed in the Kurento open source software community in areas ...
Sep. 2, 2015 02:15 PM EDT
Consumer IoT applications provide data about the user that just doesn’t exist in traditional PC or mobile web applications. This rich data, or “context,” enables the highly personalized consumer experiences that characterize many consumer IoT apps. This same data is also providing brands with unprecedented insight into how their connected products are being used, while, at the same time, powering highly targeted engagement and marketing opportunities. In his session at @ThingsExpo, Nathan Treloar, President and COO of Bebaio, will explore examples of brands transforming their businesses by t...
Sep. 2, 2015 02:00 PM EDT Reads: 273
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
Sep. 2, 2015 01:30 PM EDT Reads: 948
While many app developers are comfortable building apps for the smartphone, there is a whole new world out there. In his session at @ThingsExpo, Narayan Sainaney, Co-founder and CTO of Mojio, will discuss how the business case for connected car apps is growing and, with open platform companies having already done the heavy lifting, there really is no barrier to entry.
Sep. 2, 2015 12:45 PM EDT Reads: 204
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome,” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
Sep. 2, 2015 12:15 PM EDT Reads: 423
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal an...
Sep. 2, 2015 11:30 AM EDT Reads: 2,002
With the proliferation of connected devices underpinning new Internet of Things systems, Brandon Schulz, Director of Luxoft IoT – Retail, will be looking at the transformation of the retail customer experience in brick and mortar stores in his session at @ThingsExpo. Questions he will address include: Will beacons drop to the wayside like QR codes, or be a proximity-based profit driver? How will the customer experience change in stores of all types when everything can be instrumented and analyzed? As an area of investment, how might a retail company move towards an innovation methodolo...
Sep. 2, 2015 11:15 AM EDT Reads: 504