Consolidated Edison, Inc. (ED) announced that it would receive an additional $45 million in smart grid stimulus funds from the U.S. Department of Energy or DOE. The federal stimulus money will help fund a smart grid program that will enable Con Edison to identify, develop, and test new technologies within the electric delivery system that will help build a smarter, more efficient grid.
The DOE smart grid demonstration program award is in addition to the $136 million announced in October, which the company will use to deploy and integrate smart grid technology on the electric system.
The $181 million in smart grid stimulus funds that Con Edison is scheduled to receive will broaden the scope of the company's existing smart grid efforts to modernize the electric grid in the most complex energy market in America.
Con Edison will work with other parties on this project, including the New York City Economic Development Corp., The Boeing Co., and Columbia University. Other parties include Viridity Energy, the Prosser Group, CALM Energy, and Rudin Management Co., Inc.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.