Business value is a critical component of sustainability and Con Edison undertakes a number of initiatives to ensure the continued growth of our value. The company’s Enterprise Risk Management (ERM) program was established to identify, assess, manage, and monitor its major operations and administrative risks. This is done based on established criteria for the severity of an event, the likelihood of its occurrence, and the programs in place to control the event or reduce the impact. Our auditing program also assists with mitigating risk to confirm regulatory compliance, that proper procedural requirements are correctly implemented, and to gather information that can help drive continuing improvement.
The energy infrastructure itself is vital to our business value. We forecast growth in both our electric and natural gas demand and require maintenance on the electric, natural gas, and steam systems to ensure that they are working to the best of their ability. We plan to invest more than $1.7B a year in our infrastructure and continually look to identify ways that we can innovate and modernize our business to better provide energy services to our customers safely, efficiently, and in environmentally sound manner.