Consolidated Edison (ConEd), the largest utility in the New York metropolitan area, announced on February 8 that it has created a new holding company, Con Edison Clean Energy Businesses, that brings together its three existing corporations active in America’s competitive energy marketplace: Con Edison Solutions, Con Edison Development and Con Edison Energy.
The recently formed Con Edison Clean Energy Businesses, through its three main subsidiaries, develops, owns and operates renewable and energy infrastructure assets and provides energy-related products and services to wholesale and retail customers. It is headquartered, along with its subsidiaries, in Valhalla, New York.
Specifically, the three divisions that will comprise Con Edison Clean Energy Businesses include:
- Con Edison Solutions is an energy services company that provides renewable energy, sustainability services, cost-effective energy efficiency solutions, demand response, and energy performance contracting. The company serves commercial, industrial, residential and government customers, as well as universities, public school districts, and hospitals nationwide
- Con Edison Development plans, owns and operates renewable and energy infrastructure assets. The division currently owns and operates facilities generating more than 1,350-MW DC / 1,100-MW AC of renewable power across Arizona, California, Iowa, Massachusetts, Minnesota, Nevada, Nebraska, New Jersey, Pennsylvania, Rhode Island, South Dakota and Texas.
- Con Edison Energy is an experienced wholesale power marketer and asset manager, providing customized energy-management services to a broad range of clients. The company is active in the New England, New York, PJM, ERCOT and California ISOs. It provides a comprehensive set of services for energy asset owners that range from consulting and strategic planning to core logistical services such as bidding and scheduling, fuel management, and hedge execution. The company currently provides energy management services to more than 6,200- MW of electric generation. The company’s services are designed to handle all front-, middle- and back-office functions required for merchant and renewable asset owners; as well as for load portfolios.
“Each of the businesses within Con Edison Clean Energy Businesses has an outstanding record of accomplishment, and each is poised for continued growth,” said Mark Noyes, who now serves as CEO of the combined division. “Now with a common leadership team, these three organizations stand ready to fortify our status among the best in the business.”
Noyes has many years of experience with ConEdison where he served in a variety of capacities in both the regulated utility and competitive businesses. In an earlier role as a VP of Con Edison Development, he led the company’s growth into America’s fifth-largest developer, owner, and operator of solar energy infrastructure projects. He began his professional career with the regulated utility, Consolidated Edison Company of New York, where he served in roles for Substation and Transmission Operations, and in technical management at the Waterside Generating Station in Manhattan.