Con Edison to pay $171 million for bribery and kickbacks

Posted at 4:27 AM, Apr 21, 2016
and last updated 2016-04-21 04:27:17-04

ALBANY, N.Y. — New York state’s largest utility will pay $171 million to its customers for bribery and kickback schemes uncovered by federal officials.

The New York State Public Service Commission announced the settlement with Consolidated Edison on Wednesday.

The agreement comes seven years after 10 Con Edison supervisors and employees and one retired supervisor were arrested by federal officials for arranging to have the utility pay inflated claims by a contractor in return for more than $1 million in bribes and kickbacks to the employees over a nine-year period.

Con Edison has approximately 3.3 million electric customers, 1.1 million gas customers and 1,685 steam customers in the metropolitan New York City area.

Under the terms of the agreement, Con Edison admitted no wrongdoing.