Consolidated Edison Inc.
Con Edison Subsidiary to Sell Pipeline Interest for $357.5 Million
Summary
On November 24, 2025, a subsidiary of Consolidated Edison, Inc. (Con Edison) agreed to sell its 6.6% interest in Mountain Valley Pipeline, LLC, including its interests in the Mountain Valley Pipeline and the Mountain Valley Pipeline Mainline Expansion, to an Ares Management fund for $357.5 million. The transaction is expected to close in the first half of 2026, subject to customary closing conditions and the potential exercise of preferential rights by founding members of MVP. Con Edison expects to use the proceeds to partially offset its common equity needs for 2026 and for other general corporate purposes.
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About Consolidated Edison Inc.
Consolidated Edison Inc. is a prominent utility company responsible for the delivery of energy services in the northeastern United States. Its primary function is the transmission of electricity and natural gas, as well as steam service, primarily serving the densely populated New York metropolitan area. Notably, it operates through its principal subsidiaries such as Consolidated Edison Company of New York, Inc. and Orange and Rockland Utilities, Inc., ensuring reliable energy provisions to millions of residents and businesses. The company is a key player in the energy sector, influencing regional economic activities and supporting essential services through its infrastructure. Consolidated Edison also focuses on advancements in renewable energy initiatives, playing an integral part in regional efforts to transition to sustainable energy solutions. Its prominence in delivering consistent energy supplies makes it a critical component in the market, directly impacting energy policy and regional economic stability.
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