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ConEd, NYS Reach $153M Benchmark Settlement

Consolidated Edison Inc. reached a $153.3 million settlement with New York State, making it the largest of its kind in state history. The settlement comes after a 2014 natural gas explosion killed eight people in Manhattan. So reports Yahoo.

The settlement does not address individual civil claims related to the explosion. A National Transportation Safety Board report cited a faulty connection between two ConEd gas pipes and a hole in a nearby sewer line New York City officials knew about for years as contributing factors.

ConEd did not admit to breaking any laws or contributing to the cause of the explosion, according to the settlement agreement.  

Read the full article from Yahoo.

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