The battery storage system, which will be in trailers, will hold 5 million watts, enough to power about 5,000 apartments for four hours during a summer peak with high energy demand. The Long Island Lighting Company, which also ranked in the bottom 25 percentile for the 1973 study year, has also criticized the report.Gowanus empty lot becomes modern Con Ed energy hub - The Brooklyn Home ReporterĢ23 Nevins St., now an empty lot, will soon be jumping with electric power, courtesy of Con Edison and Centrica Business Solutions. “I consider this to be a legitimate report and the best effort I can do as an economist,” Mr. Thornton, vice president and treasurer, and Aaron S. Lapsley, who retired as Con Edison president last June, reques? Con Edison's assistance in the study and was answered by two other Con Edison officials, John V. Smith said the letter, addressed to William W. Luce criticized yesterday was being conducted. Smith, reached at his ‘Washington office, said that Con Edison was advised in October, 1974, along with 18 other utilities that the study Mr. Smith was not known by company officials and had “never set foot” in any of Con Edison's facilities. Edward Smith Jr., director of economics for the regulatory commissioners’ organization and author of the report, saying that Mr. Luce said, adding that most utilities did not have underground cable systems, lower kilowatt‐hour use per customer and were not required to burn low sulphur fuel oil, as is Con Edison. “To compare us with prarie utility is of course ridiculous,” Mr.
Luce termed the study, which was based on statistics from 1973, “interesting but not meaningful” and said it lacked validity primarily because, in his opinion, Con Edlson was being compared with utilities that did not have the same characteristics. Although the study emphasized that it was based on experimental modules, with data supplied the Federal Power Commission by the utilities, the industry has reacted angrily to news reports about the ratings. The regulatory group's study found that Con Edison ranked lowest in the bottom 25 percentile of 26 companies with which it was compared in terms of its performance in eight selected categories. It has since been reduced by nearly 50 per cent.
3 power plant to New York State and the timing on its pending rate‐increase request for $456‐million currently pending before the New York State Public Service Commission.Ĭon Edison had a capital budget for the 1974 to 78 period of $3.5‐billion this time year ago. That includes the progress of its negotiations to sell its Indian Point No. The decisions will be based on the company's firiancial performance during the rest of the year, Mr. He also said that the company was considering cutting an additional $100‐million over the same period, as part of a secand plan it had drawn up. The report was compiled by a team of economists under the auspicies of the National Association Of Regulatory Utility Commissioners, an organization of state regulators. The capital budget cuts were disclosed during a news conference called by Mr., Luce at Con Edison's headquarters here at which he sought to discredit a recently reieased report on the performance and efficiency of management of the nation's investor‐owned electric utilities.
Luce, chairman of Con Edison, which serves 2.8 million customers in metropolitan New York, said at news conference that company executives would decide within the next three months whether to make a cut of $280‐million in its capital budget for the next three years. The utility said it had two plans, one that would entail cutting $280‐million and another a total of $380‐million.Ĭharles F. The Consolidated Edison Company said yesterday that it was contemplating another cut in its capital budget.
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