Con Edison earmarks $1B for storm protection
Con Edison has filed plans with the New York State Public Service Commission (PSC) for significant infrastructure investment to protect critical equipment from devastating storms like Superstorm Sandy.
As part of the $1 billion plan, $250 million will be spent this year and next on storm protection measures. An additional $550 is earmarked for the following years.
Con Edison has proposed putting flood-proof equipment in low-lying areas, building higher flood walls around facilities, reinforcing overhead equipment and putting some overhead lines underground to limit outages during storms.
To provide initial funding, Con Edison proposed one-year delivery rates for electric, gas and steam services.
Con Edison President Craig S. Ivey said, "Although the economy is improving, we are still working diligently to hold down costs for our customers. 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 plans will be reviewed in 11 months.
- see the filings
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