N.Y. utility proposes $1B plan to protect equipment from storms

If regulators approve a request by Consolidated Edison Co. of New York, the utility will spend $1 billion over four years to make its equipment better able to withstand severe storms. A rate increase was also requested. Work would include “strategic undergrounding and flood protection projects, including building flood walls for certain electric and steam equipment, raising critical equipment, upgrading gas system equipment and accelerating installation of submersible equipment.” Read the SNL Financial story here.