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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 8, 2024
 Consolidated Edison, Inc.
(Exact name of registrant as specified in its charter)
New York 1-14514 13-3965100
(State or Other Jurisdiction
of Incorporation)		 (Commission
File Number)		 (IRS Employer
Identification No.)
4 Irving Place, New York, New York 10003
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (212) 460-4600
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))





Securities Registered Pursuant to Section 12(b) of the Act:

Title of each class Trading SymbolName of each exchange on which registered
Consolidated Edison, Inc., EDNew York Stock Exchange
Common Shares ($.10 par value)


Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐



If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
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Item 8.01Other Events.
In November 2024, a subsidiary of Consolidated Edison, Inc., Orange and Rockland Utilities, Inc. (O&R), the New York State Department of Public Service (NYSDPS) and other parties entered into a joint proposal for new electric and gas rate plans for the three-year period January 2025 through December 2027 (the Joint Proposal). The Joint Proposal is subject to approval by the New York State Public Service Commission (NYSPSC). The following tables contain a summary of the Joint Proposal.

O&R New York – Electric
Effective periodJanuary 2025 – December 2027
Base rate changesYr. 1 – $(13.1) million (a)
Yr. 2 – $24.8 million (a)
Yr. 3 – $44.1 million (a)
Amortizations to income of net
regulatory (assets) and liabilities		Yr. 1 – $(4.5) million
Yr. 2 – $(5.4) million
Yr. 3 – $(6.4) million
Other revenue sources
Potential earnings adjustment mechanism incentives for energy efficiency and other potential incentives of up to:
Yr. 1 – $3.9 million
Yr. 2 – $4.7 million
Yr. 3 – $5.8 million

Revenue decoupling mechanismsContinuation of reconciliation of actual to authorized electric delivery revenues.
Recoverable energy costsContinuation of current rate recovery of purchased power and fuel costs.
Negative revenue adjustmentsPotential charges if certain performance targets relating to service, reliability, safety and other matters are not met:
Yr. 1 – $7.6 million
Yr. 2 – $8.5 million
Yr. 3 – $11.5 million
Regulatory reconciliations
Reconciliation of expenses for pension and other postretirement benefits, environmental remediation costs, property taxes (b), energy efficiency program (c), major storms, low-income bill credits, uncollectible expenses (d), late payment charges (d), and certain other costs to amounts reflected in rates.
Net utility plant reconciliations
Target levels reflected in rates: Electric average net plant target
Yr. 1 – $1,398 million
Yr. 2 – $1,471 million
Yr. 3 – $1,737 million
Average rate base
Yr. 1 – $1,293 million
Yr. 2 – $1,393 million
Yr. 3 – $1,646 million
Capital Investments
Yr. 1 – $311 million
Yr. 2 – $349 million
Yr. 3 – $315 million
Weighted average cost of capital (after-tax)Yr. 1 – 7.25 percent
Yr. 2 – 7.28 percent
Yr. 3 – 7.31 percent
Authorized return on common equity9.75 percent
Earnings sharingMost earnings above an annual earnings threshold of 10.25 percent are to be applied to reduce regulatory assets for environmental remediation and other costs accumulated in the rate year.

Cost of long-term debtYr. 1 – 4.95 percent
Yr. 2 – 5.01 percent
Yr. 3 – 5.08 percent
Common equity ratio48 percent
(a) The Joint Proposal recommends that these base rate changes may be implemented with no change in Yr. 1 and increases of $17.7 million in each of Yr. 2 and Yr. 3.
(b) Deferrals for property taxes are limited to 90 percent of the difference from amounts reflected in rates, subject to an annual maximum for the remaining difference of not more than a maximum number of basis points impact on return on common equity: Yr. 1 - 10.0 basis points; Yr. 2 - 7.5 basis points; and Yr. 3 - 5.0 basis points.
(c) Energy efficiency costs are deferred as regulatory assets and amortized over a 15-year period. Balances are reconciled to the revenue requirement effect of actual level of cost incurred to the rate plan targets. If the NYSPSC authorizes modified energy efficiency spending budgets over the course of the rate plan, O&R will defer the impact of any variance between the level in rates and the authorized budgets for collection or refund to customers in the next base rate case.
(d)    Reconciliation of uncollectible expenses and late payment charges are subject to a combined annual threshold of $0.9 million. Once the threshold is met, O&R will defer the variance between actual uncollectible expense and late payment charge, and the level set forth in rates that is above the threshold. Recovery/refunds will be made via surcharge/sur-credit. Surcharge recovery is subject to an annual cap that produces no more than a 0.5 percent total customer bill impact.


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O&R New York – Gas
Effective periodJanuary 2025 – December 2027
Base rate changesYr. 1 – $3.6 million (a)
Yr. 2 – $18.0 million (a)
Yr. 3 – $16.5 million (a)
Amortization to income of net regulatory liabilitiesYr. 1 – $8.4 million
Yr. 2 – $8.2 million
Yr. 3 – $8 million
Other revenue sourcesPotential positive rate adjustment for gas safety and performance of up to:
Yr. 1 – $1 million
Yr. 2 – $1.1 million
Yr. 3 – $1.2 million
Revenue decoupling mechanismsContinuation of reconciliation of actual to authorized gas delivery revenues.

Recoverable energy costsContinuation of current rate recovery of purchased gas costs.
Negative revenue adjustmentsPotential charges if performance targets relating to service, safety and other matters are not met:
Yr. 1 – $8.4 million
Yr. 2 – $9.4 million
Yr. 3 – $11.1 million
Regulatory reconciliations
Reconciliation of expenses for pension and other postretirement benefits, environmental remediation costs, property taxes (b), energy efficiency program (c), low-income bill credits, uncollectible expenses (d), late payment charges (d), and certain other costs to amounts reflected in rates.
Net utility plant reconciliations
Target levels reflected in rates: Gas average net plant target
Yr. 1 – $877 million
Yr. 2 – $934 million
Yr. 3 – $1,010 million
Average rate baseYr. 1 – $720 million
Yr. 2 – $791 million
Yr. 3 – $863 million
Capital InvestmentsYr. 1 – $121 million
Yr. 2 – $127 million
Yr. 3 – $110 million
Weighted average cost of capital (after-tax)Yr. 1 – 7.25 percent
Yr. 2 – 7.28 percent
Yr. 3 – 7.31 percent
Authorized return on common equity9.75 percent
Earnings sharingMost earnings above an annual earnings threshold of 10.25 percent are to be applied to reduce regulatory assets for environmental remediation and other costs accumulated in the rate year.
Cost of long-term debtYr. 1 – 4.95 percent
Yr. 2 – 5.01 percent
Yr. 3 – 5.08 percent
Common equity ratio48 percent
(a) The Joint Proposal recommends that these base rate changes may be implemented with increases of: Yr. 1 – $10.4 million; Yr. 2 - $10.4 million; and Yr. 3 -$10.4 million.
(b) Deferrals for property taxes are limited to 90 percent of the difference from amounts reflected in rates, subject to an annual maximum for the remaining difference of not more than a maximum number of basis points impact on return on common equity: Yr. 1 - 10.0 basis points; Yr. 2 - 7.5 basis points; and Yr. 3 - 5.0 basis points.
(c)    Energy efficiency costs are deferred as regulatory assets and amortized over a 15-year period. Balances are reconciled to the revenue requirement effect of actual level of cost incurred to the rate plan targets. If the NYSPSC authorizes modified energy efficiency spending budgets over the course of the rate plan, O&R will defer the impact of any variance between the level in rates and the authorized budgets for collection or refund to customers in the next base rate case.
(d)    Reconciliation of uncollectible expenses and late payment charges are subject to a combined annual threshold of $0.5 million. Once the threshold is met, O&R will defer the variance between actual uncollectible expense and late payment charge, and the level set forth in rates that is above the threshold. Recovery/refunds will be made via surcharge/sur-credit. Surcharge recovery is subject to an annual cap that produces no more than a 0.5 percent total customer bill impact.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, each registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
CONSOLIDATED EDISON, INC.
CONSOLIDATED EDISON COMPANY OF NEW YORK, INC.
By /s/ Joseph Miller
 Joseph Miller
 
Vice President, Controller and Chief Accounting Officer
Date: November 8, 2024

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v3.24.3
Cover Page
Nov. 08, 2024
Entity Information [Line Items]  
Document Type 8-K
Document Period End Date Nov. 08, 2024
Entity Registrant Name Consolidated Edison, Inc
Entity Central Index Key 0001047862
Amendment Flag false
Entity Incorporation, State or Country Code NY
Entity File Number 1-14514
Entity Tax Identification Number 13-3965100
Entity Address, Address Line One 4 Irving Place,
Entity Address, City or Town New York,
Entity Address, State or Province NY
Entity Address, Postal Zip Code 10003
City Area Code 212
Local Phone Number 460-4600
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Shares ($.10 par value)
Trading Symbol ED
Security Exchange Name NYSE
Entity Emerging Growth Company false
CECONY  
Entity Information [Line Items]  
Entity Central Index Key 0000023632
Consolidated Edison (NYSE:ED)
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