Con Edison unit to sell 6.6% stake in Mountain Valley Pipeline

According to a regulatory filing, on November 24, 2025, a Consolidated Edison (ED)subsidiary entered into a purchase and sale agreement pursuant to which Con Edison Seller agreed to sell its approximately 6.6% interest in Mountain Valley Pipeline, LLC, which includes Con Edison Seller’s interest in the Mountain Valley Pipeline and the Mountain Valley Pipeline Mainline Expansion, to an Ares Management (ARES) fund for $357.5M. The base purchase price will be reduced for certain accrued taxes, performance assurances, and other items, including distributions received before closing of the Transaction, and increased for capital contributions made by Con Edison Seller during the period between signing of the Purchase and Sale Agreement and closing of the Transaction. The Transaction is expected to close in the first half of 2026, subject to customary closing conditions. The Transaction is also subject to the potential exercise of certain preferential rights of the founding members of MVP. Con Edison anticipates that the proceeds from the Transaction will be used to partially offset its common equity needs for 2026 and for other general corporate purposes.