Con Ed Pays the Bill on Steam Pipe Explosion

Con Edison has agreed to pay $24 million in damages caused by the steam pipe explosion near Grand Central Station last year. Con Ed will not pass along any of those costs to customers and in addition agreed to return to customers anything beyond $24 million that it wins in pending legal settlements related to the explosion. City Councilman Eric Giola spoke out in favor of the settlement saying Con Ed's “mistakes and bad management don’t just cost New Yorkers money, they also cost lives.”