Consolidated Edison increased its capital spending to $5 billion in 2025, up from $4.73 billion in 2024, focusing on upgrades to electric, gas and steam delivery systems in southeastern New York and parts of New Jersey. The company has laid out a $38 billion investment plan for 2026–2030 and aims to commit a total of $72 billion over the next decade to modernize its grid and improve service resilience.

The company operates under rate plans approved by state regulators, which set caps on the revenues and returns it can collect. If actual operating costs or storm restoration expenses exceed regulatory allowances or are deemed imprudent, Consolidated Edison may not recover those amounts from customers, creating potential earnings volatility.

Through these infrastructure investments, Consolidated Edison intends to enhance service reliability, strengthen system resilience and progress toward its target of net-zero carbon emissions by 2050. Successful execution of the capital program and favorable rate-plan outcomes will be key drivers of long-term shareholder value.