Con Edison efforts to enhance energy efficiency, safety, reliability highlight shareholder address
Consolidated Edison (Con Edison) CEO John McAvoy discussed the impact of smart meters on customer energy usage, the integration of renewables and distributed energy resources, efforts to improve public safety, and investments in natural gas and electric transmission during a shareholder meeting on Monday.
Con Edison is in the second year of smart meter installation across the service areas of the company’s two regulated utility companies, Con Edison Co. of New York and Orange & Rockland, that enable customers to monitor energy usage in near real-time. McAvoy said the company plans to complete smart meter rollout across its service areas by 2022.
“Our company’s performance continues to be strong, and we have encouraging growth and development opportunities as we look ahead,” McAvoy said. “Over the next three years, we expect to be investing over $9.5 billion in our systems. Much of that investment is focused on improving safety, reliability and reducing risk.”
McAvoy highlighted Con Edison investments in infrastructure, including the development of sensors placed in underground manholes to detect deteriorating electric components before equipment failures. Additionally, Con Edison plans to replace 100 miles of natural gas mains per year through 2021 and is installing methane detectors in customer homes.
In response to New York State’s Reforming the Energy Vision (REV) initiative to generate 50 percent of electricity from renewable sources by 2030, Con Edison has also developed and integrated new technology to support more distributed energy resources. McAvoy noted the company’s recent completion of the Hudson Yards project on Manhattan’s West Side, which incorporates combined heat and power into a microgrid, and the Marcus Garvey Village in Brooklyn, which includes solar panels, a fuel cell, and battery storage into a microgrid.
Overall, 340,000 Con Edison customers have used $350 million in energy efficiency incentives since 2009, resulting in 1.4 million tons of carbon emission reductions. The company’s peak natural gas demand is also up 30 percent over the last six years. McAvoy outlined a two-pronged strategy to improve efficiency and effectiveness and to double incentives for gas energy efficiency going forward.
Cyber and physical security were also identified as Con Edison priorities, and McAvoy noted collaboration with outside experts and federal, state and local law enforcement agencies.