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Rep. Engel - Con Edison Bonuses "An Insult" To Ratepayers


Location: Washington, DC

Congressman Eliot Engel (D-NY-16) issued the following statement after the New York Post reported that four executives at Con Edison split $614,000 in bonuses -- with CEO Kevin Burke receiving $315,400. The bonuses were awarded because of the "significant challenges" they dealt with last year. During last year, Superstorm Sandy ripped through the tri-state area, causing massive damage and leaving hundreds of thousands of homes without power for approximately two weeks.

"Con Edison's response to Superstorm Sandy in my district was abysmal. People don't deserve bonuses based on the unsatisfactory response and arrogance of Con Edison in dealing with the storm. These bonuses are an insult to ratepayers and I urge Con Edison to rethink them. Only three months ago, Con Edison was attempting to raise rates to pay for upgrades in their storm protection procedures. Certainly $614,000 could go a long way towards making such improvements. What exactly did these executives do to earn this money that they weren't being paid to do? Their incompetent preparation and inexcusable response time does not warrant cushy bonuses in my book.

"Perhaps they could enlighten my constituents in Westchester County and the Bronx with these answers since they were unable to light their homes for about two weeks after the storm. I invite Con Edison to announce these bonuses at a town hall meeting in my district. I met with many residents, and heard their horror stories, following the storm. I think that may be enlightening to the Con Ed executives."

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