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Article: PSC APPROVES $37M CON EDISON SETTLEMENT
- Article from:
- US Fed News Service, Including US State News
- Article date:
- November 12, 2008
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The New York State Public Service Commission issued the following news release:
The New York State Public Service Commission (Commission) at its regular monthly meeting discussed items relative to the steam pipe rupture of Consolidated Edison Company of New York, Inc.'s (Con Edison) distribution system at the corner of East 41st Street and Lexington Avenue in Manhattan on July 18, 2007. Today, the Commission at its meeting approved a $37 million settlement to resolve its prudence investigation to evaluate Con Edison's actions and practices relating to the 2007 steam incident.
"The public interest is well-served in approving the settlement since it precludes Con Edison from recovering from ...