Consolidated Edison

Revenue decoupling, weather normalization clauses, and true-up mechanisms for major costs (property taxes, pensions, environmental, variable-rate debt) make earnings more rule-based than volume-based.

Management targets mid-single-digit adjusted EPS growth tied to an 8 to 9 percent rate-base CAGR driven by electrification, resilience, and transmission. Reliability metrics are top-tier, and rate plans are multi-year. Predictability is high, with residual exposure to storm events, interest costs, and policy decisions.

Sources: company 2025 Q4 materials, 2025 guidance and long-range plan data, ReliabilityOne award.