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  "docId": "019dd923-5ca1-7489-b635-fd9d76be0971",
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  "documentTitle": "Business Cost Optimization at Con Edison",
  "authorId": "Bain",
  "authorName": "New York Department of Public Service",
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      "text": "To best compete in the energy business and serve our customers we must reduce our costs",
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      "text": "Safety, operational excellence, and customer experience continue to be our core objectives. Our evaluation of peer utilities clearly indicates that we can accomplish these objectives while reducing costs and working more efficiently. Our responsibility to our customer includes being responsible cost managers. We must prepare for an evolving business model, as customer expectations shift, sales growth declines, and new companies compete in the energy industry. Large organizations add activities and costs over time. We need to regularly review our costs: It is what healthy companies do. We must maintain competitive pricing for our products. That means mitigating total customer bills. We can be more aggressive with capital investments that reduce O&M",
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      "text": "We have completed the enterprise diagnostic and will begin to design priority initiatives. Over 150 employees across organization have worked together over the past 4 months to identify ways to work more efficiently, to increase productivity, and to reduce costs. Approximately 70 savings opportunities were identified and refined across the enterprise. The Utility Steering Team (UST) and core teams assessed all the opportunities and agreed on the priority initiatives for 2018. Priority initiatives will begin being designed in Q1 2018 with the continued support of functional teams as well as a central Program Office that is being put in place to coordinate, support, and track the BCO effort",
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      "text": "We will be consistent with our Values. Through this initiative, we will continue to manage employee levels through reduced hiring, retraining, and reassignment. We will continue to invest in training and professional development for all employees",
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      "text": "The cost optimization effort launched in the fall is underway. Our goal remains to improve the way we work to optimize O&M and capital costs. The first phase of the BCO - understanding our cost and brainstorming savings opportunities - is complete. The program was executed with a long-term and sustainable cost management process in mind",
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