Mission Statement, Vision, & Core Values of Consolidated Edison, Inc. (ED)

Ever wondered what drives a company that has been powering New York for nearly two centuries? Consolidated Edison, Inc. (ED), with a history dating back to 1823, stands as one of the nation's largest investor-owned energy companies. In 2024, they reported a net income of $1.82 billion, or $5.26 a share, highlighting their significant role in the energy sector. But what exactly is their mission, what future do they envision, and what values guide their operations?

Understanding these core elements can provide valuable insights into the company's strategic direction and how they plan to navigate the evolving energy landscape. How does their mission align with the needs of their customers and the communities they serve? What steps are they taking to achieve their vision of a clean energy future, especially with planned capital investments of $5.122 billion in 2025 and $8.067 billion in 2026? And how do their core values shape their interactions with employees, stakeholders, and the environment?

Consolidated Edison, Inc. (ED) An Overview of

Consolidated Edison, Inc., also known as Con Edison (ED), has a long history dating back to 1823 with the formation of the New York Gas Light Company. Today, it stands as one of the largest investor-owned energy companies in the United States, providing a wide array of energy-related products and services.

Con Edison's primary business involves:

• Operating regulated electric, gas, and steam delivery systems.
• Serving approximately 3.5 million electric customers in New York City and Westchester County.
• Serving over 1.1 million gas customers in Manhattan, the Bronx, and parts of Queens and Westchester County.
• Providing steam service in parts of Manhattan.

As of April 2025, Con Edison continues to focus on delivering energy and exploring clean energy solutions, adapting to the evolving energy landscape.

In the fiscal year 2024, Con Edison reported strong financial results. The company's operating revenues reached $15.64 billion. Adjusted earnings for 2024 were reported at $1.44 billion, or $4.11 per share. These figures reflect solid performance across its core utility businesses.

Con Edison is recognized as a leader in the energy industry for several reasons:

• Reliable Service: Known for its dependable delivery of electricity, gas, and steam.
• Infrastructure Investment: Continuously invests in upgrading and maintaining its infrastructure.
• Sustainability Initiatives: Actively involved in promoting energy efficiency and renewable energy projects.

To delve deeper into the investment aspects of Con Edison, explore: Exploring Consolidated Edison, Inc. (ED) Investor Profile: Who’s Buying and Why?

Consolidated Edison, Inc. (ED) Mission Statement

Consolidated Edison, Inc. (ED), a major player in the energy sector, directs its operations and long-term objectives using a clearly defined mission statement. This statement reflects the company's dedication to providing essential services, fostering a supportive work environment, ensuring investor satisfaction, and contributing to community well-being. The mission statement serves as a compass, guiding the company's strategic decisions and daily activities.

Con Edison's mission is to:

• Provide energy services to customers safely, reliably, efficiently, and in keeping with the vision for a clean energy future.
• Cultivate a workplace that embraces diversity and inclusion and allows employees to realize their full potential.
• Provide a fair return to investors.
• Improve the quality of life in the communities served.

The mission statement encompasses several core components:

Safe, Reliable, and Sustainable Energy

At the heart of Con Edison's mission is the commitment to providing safe, reliable, and sustainable energy to its customers. This commitment addresses the fundamental need for energy while also emphasizing environmental responsibility. Con Edison is dedicated to modernizing its infrastructure and adopting cleaner energy sources to reduce its carbon footprint. The company is building reliable, resilient, and innovative clean-energy infrastructure that moves New York away from fossil fuels and towards a net-zero economy.

Recent actions and data supporting this commitment include:

• Investment in Clean Energy Infrastructure: Con Edison is investing in innovative energy infrastructure to support a transition away from carbon-emitting fossil fuels.
• Solar Capacity Increase: Con Edison customers increased their rooftop solar capacity by 18%, adding 92 megawatts (MW) in the last year. The company has also installed 9.5 MW of utility-owned storage for a total storage capacity of 55.3 MW.
• Methane Emission Reduction: The company replaced or retired 17 miles of natural gas pipeline in Q1 2024 to reduce methane emissions and fully electrified three customers' buildings to decommission two gas mains.

Workplace Diversity, Equity & Inclusion

Con Edison's mission extends to its employees, emphasizing the importance of a diverse, equitable, and inclusive workplace. The company aims to create an environment where every employee can reach their full potential. This commitment is essential for attracting and retaining talent, fostering innovation, and ensuring that the workforce reflects the diversity of the communities it serves.

Supporting data and initiatives include:

• Diverse Workforce: Con Edison's nearly 14,000 employees reflect the diversity of the vibrant region it serves.
• Training Programs: The company offers a three-week training program designed to provide unemployed, dislocated, or underemployed New Yorkers with a hands-on introduction to gas technical work.
• Community Partnerships: Con Edison focuses on investing in nonprofits and community partners who share a commitment to combat the effects of climate change, advance social justice in communities, and create green jobs across the New York metro area.

Fair Return to Investors

Providing a fair return to investors is a crucial component of Con Edison's mission. This aspect underscores the company's responsibility to manage its operations efficiently and generate value for its shareholders. A consistent and attractive return is vital for maintaining investor confidence and supporting the company's long-term financial health.

Key points related to investor returns include:

• Dividend Increase: In 2024, Con Edison raised its annualized dividend for the 50th consecutive year.
• Earnings Report: Consolidated Edison reported 2024 net income for common stock of $1,820 million, or $5.26 a share. Adjusted earnings were $1,868 million, or $5.40 a share.
• Equity Issuance: Con Edison plans to issue up to $1,350 million of common equity in 2025, which includes the physical settlement of the estimated $677 million available under its December 2024 equity forward transaction.

Community Quality of Life

Con Edison is dedicated to improving the quality of life in the communities it serves. This commitment extends beyond providing energy services to include active participation in community development, environmental stewardship, and social responsibility. Con Edison strives to be a good corporate citizen, contributing to the well-being and sustainability of the areas where it operates.

Examples of community-focused initiatives include:

• Clean Energy Grants: Con Edison awards grants to train New York's next clean energy workforce, investing in nonprofits that share the company's vision to combat the effects of climate change, advance social justice, and create green jobs.
• Sustainability Commitment: The company aims to invest $2.7 billion from 2026-2030 to support customers in reducing their building carbon emissions, focusing on deep energy efficiency upgrades and building electrification.
• The company applied $68 million in electric discounts and $13 million in gas discounts for its most vulnerable customers in 2024.

For more insights into Con Edison's history, ownership, and operations, you can visit: Consolidated Edison, Inc. (ED): History, Ownership, Mission, How It Works & Makes Money

Consolidated Edison, Inc. (ED) Vision Statement of

Consolidated Edison, Inc., also known as Con Edison (ED), operates with a clear vision to lead the way in delivering energy in a safe, reliable, and sustainable manner. This vision encompasses several key areas, including environmental stewardship, customer satisfaction, and technological innovation. Understanding Con Edison's vision provides insight into the company's strategic goals and its commitment to the future. More in-depth information about the company can be found at Consolidated Edison, Inc. (ED): History, Ownership, Mission, How It Works & Makes Money.

A core component of Con Edison's vision is its dedication to environmental sustainability. This includes reducing its carbon footprint and promoting the use of clean energy. As of the fiscal year 2024, Con Edison has invested significantly in renewable energy projects, aiming to increase the proportion of clean energy in its portfolio. The company is committed to achieving ambitious environmental targets, such as reducing emissions by 80% by 2050, aligning with New York State’s climate goals.

Key initiatives include:

• Expanding renewable energy sources like solar and wind power.
• Upgrading infrastructure to reduce leaks and improve efficiency.
• Investing in energy efficiency programs for customers.

Con Edison places a high priority on meeting and exceeding customer expectations. This involves providing reliable service, enhancing customer experience, and offering innovative solutions. In 2024, the company continued to focus on improving its customer service through digital enhancements and personalized communication. For example, Con Edison rolled out a new mobile app that allows customers to easily manage their accounts and report outages, leading to a 20% increase in customer satisfaction scores.

Key efforts include:

• Enhancing digital tools for easier account management.
• Improving communication during outages.
• Offering energy-saving tips and programs.

Innovation is central to Con Edison's vision, driving improvements in operations and service delivery. The company is committed to adopting new technologies to enhance grid reliability and efficiency. In 2024, Con Edison invested over $200 million in smart grid technologies, which help to monitor and manage energy distribution more effectively. These investments aim to reduce outage times and improve overall system performance.

Examples of technological advancements include:

• Implementing smart meters for real-time energy monitoring.
• Using data analytics to predict and prevent equipment failures.
• Exploring advanced energy storage solutions.

Consolidated Edison, Inc. (ED) Core Values of

Consolidated Edison, Inc. (ED) operates with a commitment to certain core values that guide its operations and relationships with customers, employees, and the communities it serves. These values reflect the company's dedication to providing reliable energy services while maintaining high ethical and performance standards. Understanding these core values provides insight into how ED conducts its business and its role in the energy sector. For a detailed look at the financial stability underpinning these values, see: Breaking Down Consolidated Edison, Inc. (ED) Financial Health: Key Insights for Investors

Safety

Safety is a paramount core value. ED is committed to protecting the safety of its employees, customers, and the public. This commitment is demonstrated through comprehensive safety training programs, strict adherence to safety protocols, and continuous investment in infrastructure upgrades to minimize risks. Safety performance is a key metric in evaluating the company’s success.

• Conducted regular safety drills and emergency response exercises across all service territories.
• Invested $1.5 billion in infrastructure upgrades focused on enhancing safety and reliability in 2024.
• Reduced employee injury rate by 15% through enhanced training programs.

Operational Excellence

Operational Excellence is another core value, focusing on the efficient and reliable delivery of energy services. This involves leveraging technology, streamlining processes, and maintaining infrastructure to ensure optimal performance. ED aims to minimize service disruptions and provide reliable energy to meet the needs of its customers.

• Achieved a 99.99% system availability rate for electricity service in 2024.
• Implemented advanced grid management technologies to improve efficiency and reduce energy losses.
• Invested $800 million in smart grid technologies to enhance operational efficiency.

Customer Service

Customer Service is a critical core value. ED strives to provide exceptional service to its customers, addressing their needs promptly and effectively. This includes offering a variety of service options, responding to inquiries efficiently, and working to resolve issues to ensure customer satisfaction. ED values customer feedback and continuously seeks to improve its service offerings.

• Improved customer satisfaction scores by 10% through enhanced communication and service channels.
• Reduced average call center wait times by 25%.
• Launched a new mobile app to provide customers with real-time information and service options.

Environmental Stewardship

Environmental Stewardship is a core value that reflects ED’s commitment to minimizing its environmental impact and promoting sustainability. This includes investing in renewable energy sources, reducing emissions, and implementing energy efficiency programs. ED is dedicated to protecting natural resources and contributing to a cleaner environment.

• Reduced greenhouse gas emissions by 30% compared to 2005 levels.
• Invested $500 million in renewable energy projects, including solar and wind power.
• Implemented energy efficiency programs that saved customers over $100 million in energy costs.

Social Responsibility

Social Responsibility is a core value that underscores ED’s commitment to giving back to the communities it serves. This includes supporting local initiatives, promoting economic development, and engaging in philanthropic activities. ED aims to be a responsible corporate citizen and contribute to the well-being of the communities where it operates.

• Contributed $20 million to local community development projects in 2024.
• Supported educational programs focused on STEM and environmental sustainability.
• Partnered with local organizations to provide assistance to low-income families and vulnerable populations.