ConEd Plans 28 New Substations by 2035 Amid Growing Demand for Electricity in New York City

Electricity sales revenue rose more than 10% year over year at Consolidated Edison Company of New York and Orange & Rockland Utilities, the two electric utility subsidiaries owned by Consolidated Edison, Inc. The combined revenue of the two companies topped $3.1 billion in the three months ending June 30, up from $2.78 billion in the second quarter of 2025. The increasing demand for electricity in New York City and surrounding areas is driven by the growth of new buildings and commercial customers. ConEd said that new buildings are requesting as much as 25% more electric load than older buildings, and the company is gearing up to serve larger commercial customers, including a new Major League Soccer stadium and entertainment complex in Queens, John F. Kennedy International Airport, and a new mixed-use community, industrial park, and all-electric food distribution center in the Hunts Point section of the Bronx. To meet this growing demand, ConEd plans to invest in 28 new substations by 2035 across its two electric utilities' territories. This investment is part of a capital expenditure plan that includes about $37.2 billion in spending on the CECONY and O&R distribution networks. The company's capital expenditure plan comes as its customers plan for compliance with strict state and city climate policies, including New York City's Local Law 97, which requires owners of buildings larger than 25,000 square feet to cut greenhouse gas emissions 40% by 2030 and reach net zero by 2050. ConEd's investment in new substations is aimed at further strengthening reliability and system resilience, including preparing the network for periods of extreme heat. The company is also committed to keeping its service affordable for all customers while continuing to support New York's clean energy transition. CECONY's largely underground distribution network has seen 8.5 times fewer customer interruptions and about five times fewer interruption minutes than the national average for U.S. utilities. While the future appears secure for its electric utilities, the outlook for ConEd's natural gas utilities is hazier. The company said that the long-term future of the Utilities' gas businesses depends upon the role that natural gas or other gaseous fuels will play in facilitating New York State's and New York City's climate goals. ## ConEd's Investment in New Substations ConEd's investment in new substations is a significant step towards meeting the growing demand for electricity in New York City and surrounding areas. The company's capital expenditure plan includes about $37.2 billion in spending on the CECONY and O&R distribution networks, which will enable it to invest in 28 new substations by 2035. ## Challenges Ahead While ConEd's investment in new substations is aimed at strengthening reliability and system resilience, the company still faces challenges ahead. The outlook for its natural gas utilities is hazier, and the company is continuing to assess the impact of a new state law that requires utilities to present rate case proposals that keep costs below the rate of inflation. ## Conclusion ConEd's investment in new substations is a significant step towards meeting the growing demand for electricity in New York City and surrounding areas. The company's commitment to keeping its service affordable for all customers while continuing to support New York's clean energy transition is a positive development for the region. However, the company still faces challenges ahead, including the outlook for its natural gas utilities and the impact of new state laws on its rate case proposals.