Con Edison Transmission, Inc. (CET) invests in electric and gas transmission projects. These investments will help expand and diversify Con Edison's energy portfolio to provide greater access to energy supplies and more competitive pricing for customers.
The company was established in January 2016 after parent company Consolidated Edison, Inc. identified electric and gas transmission as two key areas of expertise and focus for the business. The company anticipates growth in the need for electric and gas transmission projects to meet the nation's changing energy priorities.
CET falls under the oversight of the Federal Energy Regulatory Commission.
CET operates Consolidated Edison Transmission, LLC, to invest in electric transmission, including the company's investments with New York Transco, LLC.
New York Transco is developing a portfolio of transmission upgrade projects in New York State to fulfill the goals of the New York Energy Highway Initiative, focused on developing electric transmission to meet future electricity needs of all New Yorkers.
The company sees transmission opportunities for growing local generation resources like solar energy.
CET operates Con Edison Gas Midstream, LLC, which invests in gas pipeline and storage businesses.
In January, Con Edison Transmission announced its first investment in the natural gas infrastructure with the Mountain Valley Pipeline, a new project that will deliver natural gas to the northeast and southeast markets when it is completed in 2018. The agreement has 20-year fixed-price agreements for the pipeline's entire capacity rights.
CET is purchasing a 50-percent stake in a gas pipeline and storage business in Pennsylvania and New York, worth $2 billion. CET is forming the joint venture with Crestwood Equity Partners. Known as Stagecoach Gas Services, the project provides a critical link between natural gas fields and the high demand for gas in the Northeast. CET purchased 50-percent equity interest in the Pennsylvania-Southern New York gas pipeline and storage business for about $975 million, with an implied market value of almost $2 billion.