Consolidated Edison said CECONY's electric operating revenues increased $639 million in 2024 compared with 2023, citing as major factors an increase in revenues from the electric rate plan of $558 million and a change in incentives earned under the earnings adjustment mechanisms of $18 million.

10-KAnnual reportFiled Feb 20, 2025Period of report Dec 31, 2024Summary published (UTC) Oct 10, 2026

Key points

AI summary

Consolidated Edison said CECONY's electric operating revenues increased $639 million in 2024 compared with 2023, citing as major factors an increase in revenues from the electric rate plan of $558 million and a change in incentives earned under the earnings adjustment mechanisms of $18 million.
The company said that as of December 31, 2024, CECONY's customer accounts receivable of $2,947 million included aged accounts receivable in excess of 60 days of $1,652 million, and O&R's accounts receivable of $113 million included aged accounts receivable of $32 million. It said the increase in such receivables has affected and is expected to continue to affect liquidity.
Consolidated Edison said CECONY's net interest expense increased $164 million in 2024 compared with 2023, citing as major factors higher interest expense for long-term debt due to higher debt balances of $142 million and short-term debt of $3 million.
The company said the impact of the NYSPSC order denying CECONY's April 2023 petition requesting permission to capitalize costs to implement its new customer billing and information system was reflected in other operations and maintenance expenses of $51 million in 2024 and $38 million in 2023.

Key figures

Fiscal year ended December 31, 2024

Revenue: $15.5B
Operating income: $2.7B
Net income: $1.8B
EPS: $5.24
Operating cash flow: $3.6B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

CECONY Electric Operating Revenues Increased $639 million

Consolidated Edison said CECONY's electric operating revenues increased $639 million in 2024 compared with 2023, citing as major factors an increase in revenues from the electric rate plan of $558 million and a change in incentives earned under the earnings adjustment mechanisms of $18 million.

Source · Based on the MD&A text of the filing

Year-End CECONY Customer Accounts Receivable Aged Over 60 Days: $1,652 million

The company said that as of December 31, 2024, CECONY's customer accounts receivable of $2,947 million included aged accounts receivable in excess of 60 days of $1,652 million, and O&R's accounts receivable of $113 million included aged accounts receivable of $32 million. It said the increase in such receivables has affected and is expected to continue to affect liquidity.

Source · Based on the MD&A text of the filing

CECONY Net Interest Expense Increased $164 million

Consolidated Edison said CECONY's net interest expense increased $164 million in 2024 compared with 2023, citing as major factors higher interest expense for long-term debt due to higher debt balances of $142 million and short-term debt of $3 million.

Source · Based on the MD&A text of the filing

Impact of NYSPSC Denial of CECONY's Request to Capitalize New Customer Billing System Costs

The company said the impact of the NYSPSC order denying CECONY's April 2023 petition requesting permission to capitalize costs to implement its new customer billing and information system was reflected in other operations and maintenance expenses of $51 million in 2024 and $38 million in 2023.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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