Gov. Cuomo has announced a $153.3 million settlement with Con Edison in connection with the East Harlem gas explosion that killed 8 people and injured 50 others in 2014.
It's the largest gas safety-related settlement in state history, according to Cuomo, and was approved by the New York State Public Service Commission.
The settlement includes a fund of over $25 million to benefit Con Edison customers. It's not yet clear how it will be used or disbursed; the utility plans to conduct outreach to gas customers to solicit ideas.
The rest of the settlement will cover costs related to leak response-related activites, gas safety public education, emergency payments to residents and businesses immediately following the explosion, and expenses related to remediating leak-prone gas pipes.
Con Edison shareholders will pay for the inspection and repair of gas pipes improperly installed in the natural gas distribution system.
The settlement doesn't resolve the individual civil lawsuits related to the explosion.
Con Edison was found to have violated state safety regulations leading up to and following the blast on March 12, 2014, according to a 2015 report by the Department of Public Service.
The National Traffic Safety Board found similar safety failings by Con Edison, but the federal agency does not have the authority to issue financial penalties against Con Ed.
Con Edison provides gas service to about 1.1 million customers in Manhattan, the Bronx, parts of Queens and Westchester. It also provides electricity to about 3.4 million customers in New York City and Westchester.