ED Consolidated Edison Inc

   By Stephen Nakrosis 
 

More days of extreme heat, increased coastal and inland flooding and heavier coastal storms are among the climate issues which could impact Con Edison's systems and customers in the 21st century, the utility said Friday.

The conclusions come from a report developed by Con Edison in collaboration with consulting firm ICF and Columbia University's Lamont-Doherty Earth Observatory

"We recognize the global scientific consensus that climate change is occurring at an accelerating rate," Con Edison President Tim Cawley said. "While climate change's exact pace and effects are uncertain, the study provides a strong foundation upon which to plan, design, and invest in our energy delivery systems to better protect them and serve our customers."

The study concluded the most significant climate-driven risks to Con Edison's systems are sea level rise, coastal storm surge, inland flooding from intense rainfall, hurricane-strength winds and extreme heat, Con Edison said.

According to the study, the number of days in which maximum temperatures exceed 95 degrees Fahrenheit could rise to 23 a year by 2050, as opposed to four historically. Similarly, the number of days in which humidity would push to heat index to 103 degrees or above could rise to as high as 26 by 2050, compared with two historically.

Increased precipitation and a rise in sea levels could result in more frequent flooding, the report said.

The utility said "electric, gas and steam systems are all subject to increased flooding from coastal storms, while the electric system is also challenged during periods of sustained heat."

Con Edison said it may need to spend as much as $5.2 billion by 2050 to protect electric, gas and other systems from the effects of climate change.

The utility said in the wake of Superstorm Sandy, it spent $1 billion over four years to protect systems. Con Edison also spent $100 million to strengthen electrical systems following a pair of storms in Westchester County in 2018.

Con Edison said it plans to develop a climate change implementation plan by the end of 2020.

Con Edison is a subsidiary of Consolidated Edison, Inc. (ED), and serves customers in New York City and Westchester County.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

December 20, 2019 12:04 ET (17:04 GMT)

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