It's not easy going green: Con Edison sells fossil-fuel assets at a loss

In a sign of winds quickly shifting across the energy business, Consolidated Edison agreed to sell at a loss natural-gas pipelines and storage facilities acquired less than five years ago.

“Con Edison is leading the transition to the clean energy future,” Chief Executive Timothy Cawley said in a statement Tuesday. “This transaction is consistent with our strategy to deliver on that future.”

In recent years Con Ed had taken steps to remake itself into an environmentally friendly energy provider. It got rid of nearly all of its fossil-fuel burning power generators and its solar generation capacity of 2.2 gigawatts is one of the biggest of any utility. Its goal

→ Continue reading at Crain's New York Business

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