olli0815/iStock Editorial via Getty Images
Con Edison’s (NYSE:ED) landmark $1.2 billion Reliable Clean City project in Queens received the green light on Thursday from the New York State Public Service Commission. The approval marks a pivotal step in New York’s ambitious agenda to slash greenhouse gas emissions to 85% of 1990 levels by 2050.
According to the regulator, the Idlewild project is instrumental in upholding Con Edison’s (ED) electrical system reliability and serving as connection points for energy storage and upcoming clean energy initiatives. Furthermore, it is poised to address future reliability concerns stemming from escalating energy demands, the PSC emphasized.
Con Edison (ED) expressed profound optimism, noting that the project represents “a decisive stride in constructing the grid of the future.” It is expected to facilitate sustained electrification and revitalization in downtown Jamaica, JFK International Airport, and the Metropolitan Transportation Authority’s bus fleet, the company added.
Exploring the Future with Consolidated Edison
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
