N.Y. Utilities ConEd, Orange & Rockland Must Pay for 2018 Storms

New York State Department of Public Service approved a settlement agreement with Consolidated Edison Inc. for failures by its utilities during winter storms in 2018.

• Settlement includes about $17 million in shareholder funds for ratepayers
• ConEd and Orange & Rockland acknowledged mistakes during March 2018 storms
• Almost 200,000 customers lost power during two storms
• Commission voted 5-0 to approve settlement at meeting Thursday

RELATED: N.Y.’s Cuomo Slams Utilities, Says They Aren’t ‘Too Big to Fail’

To contact the reporter on this story:
Christopher Martin in New York at cmartin11@bloomberg.net

To contact the editors responsible for this story:
Joe Ryan at ...