Tag Archives: investment

Con Ed to invest $250 million to protect equipment against future storms


| mhayes@queenscourier.com

Con Ed has announced that it will secure $250 million for protecting city infrastructure and maintaining reliable service for customers during storms such as Sandy.

“Our commitment would represent an initial infusion of preventive measures [and] we expect that even greater investments will be needed as regional discussions evolve over the coming months and years,” the company said in a statement.

Con Ed invests nearly $2 billion annually in electric, gas and steam systems, but this $250 million will be reserved specifically for measures that can help protect critical equipment from flood damage.

To execute these measures, Con Ed would raise electrical relay houses in substations, install stronger barriers and flood pumps, and potentially put major overhead power lines underground.

“Con Ed recognizes that, in order to withstand a Category 2 hurricane, it needs to significantly harden its . . . systems,” said Mayor Michael Bloomberg. “As this planning work begins, we’ll also have to look to identify steps we can take immediately.”