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.
County Line Wind and Maine Power Express have partnered to bid clean energy from Maine into the Massachusetts Clean Energy RFP. County Line Wind is a 630 MW wind facility located on forestry lands in Penobscot and Aroostook Counties in northern Maine. The Maine Power Express (MPX), is a proposed 1,040 MW HVDC transmission line to be 100% buried underground in an existing energy corridor and underwater, direct to Boston, MA. MPX is a partnership of Maine Power Express, LLC, and Con Edison Transmission, Inc. The Massachusetts Clean Energy RFP calls for up to 20-year PPA for delivered renewable energy.
The company sees transmission opportunities for growing local generation resources like solar and wind energy.
CET operates Con Edison Gas Pipeline and Storage, LLC, which invests in gas pipeline and storage businesses.
In January of 2016, 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. As proposed, the project is a 2 billion cubic feet per day natural gas pipeline system that spans approximately 301 miles from northwestern West Virginia to southern Virginia as an interstate pipeline that will be regulated by the Federal Energy Regulatory Commission (FERC). The agreement has 20-year fixed-price agreements for the pipeline's entire capacity rights.
CET formed a joint venture with Crestwood Equity Partners, known as Stagecoach Gas Services. The joint-venture assets provides a critical link between natural gas supply and the high demand for gas in the Northeast. Stagecoach Gas Services operates 41 billion cubic feet of storage capacity and approximately 185 miles of pipeline. CET purchased the 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.
Honeoye Gas Storage is a 6.7 Bcf natural gas storage field located in Ontario County, New York. Honeoye has operated as a FERC regulated facility since 1975 and provides contracted storage services to major Northeast utilities. The storage field, a Medina age reservoir found at a depth of 27,500 feet, covers an area that is about 12 miles east-west and six miles north-south. There are 27 operating wells, 12 observation wells, 19 miles of gathering lines, 27,500 hp of compression and a 10.5 mile pipeline running north to the Tennessee Gas Pipeline. Con Edison Transmission owns a 71.2% stake in Honeoye Gas Storage.