Con Edison Files First-of-its-Kind Report on Investing in Disadvantaged Communities

Nearly half of Con Edison’s clean energy investments benefited disadvantaged communities, according to a first-of-its-kind report the company filed with the Public Service Commission (PSC).

The Investing in Disadvantaged Communities report, to be filed annually with the PSC, will provide the company, government officials, stakeholders, and the public with valuable data to inform implementation of the Climate Leadership and Community Protection Act.

Con Edison serves more than 60 percent of New York State’s disadvantaged communities, making equity-focused planning a top priority.

The 2023 data shows that customers in disadvantaged communities accounted for:

• 49 percent of Con Edison’s Clean Energy Spending investments
• 40 percent of the company’s strategic electric capital investments
• 31 percent of demand response program participants
• 32 percent of distributed energy resource projects

“We are deeply committed to investing in New York’s underserved communities and ensuring that every New Yorker shares in the benefits of a more sustainable grid,” said Matt Ketschke, president of Con Edison. “This report identifies the investments in disadvantaged communities, which make up nearly half of our customer base. In addition, more than half of the nearly 1,700 employees hired by Con Edison last year were from disadvantaged communities. We look forward to a conversation with stakeholders about our work to provide equitable and reliable service for all New Yorkers.”

Through its Clean Energy Commitment, Con Edison is building a resilient electric grid that is capable of delivering 100 percent clean energy by 2040 in support of New York’s climate law.

Elijah Hutchinson, executive director of the New York City Mayor's Office of Climate & Environmental Justice said, “As New York City, New York State, and stakeholders like Con Edison implement the Climate Leadership and Community Protection Act, it’s critical that we target investments in overburdened areas. This means incorporating equity into planning, investments, and decision-making so that all communities get the resources they need to thrive in the face of climate change.”

Disadvantaged communities have been established by the New York State Climate Justice Working Group based on 45 indicators. Disadvantaged communities are communities that face environmental burdens or climate change risks or have population characteristics and health vulnerabilities that can contribute to more severe adverse effects of climate change. Con Edison is committed to ensuring that disadvantaged and historically marginalized communities are centered in the benefits of the state’s historic transition to cleaner, greener sources of energy, cleaner air, and economic opportunities.

For a full copy of the report email dl-press@coned.com.

Con Edison is a subsidiary of Consolidated Edison, Inc. [NYSE: ED], one of the nation’s largest investor-owned energy companies, with approximately $15 billion in annual revenues and $67 billion in assets. The utility delivers electricity, natural gas and steam, and serves 3.7 million customers in New York City and Westchester County. For financial, operations and customer service information, visit conEd.com.