(Bloomberg) — Consolidated Edison Inc. is proposing to invest $903 million to fortify its network in New York City and Westchester County against severe weather.
The expenditures, to take place between 2025 and 2029, would replace about 103 miles (166 kilometers) of overhead wires and 36 miles (58 kilometers) of underground wires to minimize outages due to contact with trees or debris, the company said in a statement.
Con Edison is among utilities across the US to harden networks from the impacts of catastrophic weather that have led to deadly power failures. New York has faced threats including from Hurricane Ida and Tropical Storm Isaias in recent years.
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The company expects the investment would add $173 million to customers’ bills within the period, resulting in a residential bill increase of about $1.12 per month for those using 280 kilowatt hours to about $1.70 for a customer using 425 kilowatt hours.
“Extreme weather in our region is an increasingly urgent threat,” said Con Edison Chief Executive Officer Tim Cawley. “We must continue to make investments in our system to serve our customers in higher temperatures and more frequent and severe storm conditions.”
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2023-11-21 21:54:26
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