ED · 10-Q · 2026Q2 · Full report
Transmission Investment Program
CONSOLIDATED EDISON INC · 2026-08-06 · Importance 46 · Surprise 42 · No source text
Con Edison Transmission owns interests in New York Transco transmission projects, including Propel NY Energy, a 90-mile project being developed jointly with the New York Power Authority. New York Transco’s share of Propel NY Energy’s estimated cost is $2,200 million, excluding interconnection and certain local transmission-owner projects. The project is expected to increase high-voltage transmission connections between Long Island and the rest of New York State and requires approvals and permits, including from the NYSPSC. Separately, CECONY and Con Edison Transmission agreed in April 2026 to sell their Honeoye gas-storage interests for $5 million in aggregate, subject to NYSPSC approval.
Key facts
- Propel NY Energy project: New York Transco’s share of the estimated cost is $2,200 million (90-mile electric transmission project); Con Edison Transmission's ownership interest in Propel NY Energy is 41.7% of New York Transco's share and its ROE is 11.3% (10.3% plus 1%).
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| assets | positive | probable | +0.6% | Propel NY Energy project: New York Transco’s share of the estimated cost is $2,200 million (90-mile electric transmission project); Con… |
| cash | negative | probable | -0.6% | Propel NY Energy project: New York Transco’s share of the estimated cost is $2,200 million (90-mile electric transmission project); Con… |