Burke: Con Ed to Invest $5.3 Billion

Consolidated Edison (ED Quote) CEO Kevin Burke said the energy company will invest $5.3 billion in its regulated utility business over three years.

CEO Burke told Con Ed shareholders at Monday's annual meeting that they need to make continued investments in infrastructure to feed the growth spurred by the New York region's robust economy.

"The demand for energy is rising, in part because the region's economy continues to expand and in part because people are using more energy in their daily lives," Burke said. "We have to make sure that the company's energy infrastructure is sufficiently strong and flexible so that it can supply future energy needs."