Con Edison to spend $29B shoring up NYC area grid as electrification rises

This audio is auto-generated. Please let us know if you have feedback.

Consolidated Edison, Inc. is planning to spend more than $29 billion over the next five years on substations and other grid upgrades to meet rising electrification in its territory covering New York City and parts of its suburbs. Unlike some peer utilities, buildings and transportation — not data centers — are Con Edison’s primary demand drivers.

Consolidated Edison Co. of New York, commonly known as CECONY and by far the larger of ConEd’s two electric utilities, outlined roughly $27.2 billion in capital spending between 2026 and 2030 in a first-quarter earnings presentation released May 7.

Orange & Rockland Utilities, named for the two counties it serves in the western Hudson Valley, is planning about $2.3 billion over the same period, it said. Consolidated Edison Inc.’s total capital spending plan, including investments in gas and steam, through 2030 remained relatively unchanged since last quarter at about $38 billion.

Meanwhile, sales trajectories diverged at the two electric utilities in the first quarter of 2026.