Financials Behind the Sub-Station

If hypothetically the powerplant were removed and replaced, it obviously wouldn’t be for free. This section of the project will concentrate on the vinegar hill substation owned by Con-edison and its finances. For this first subsection of the project, the finances of Con-Ed’s current situation will be analyzed and the possibilities of an educational institution will be estimated and also analyzed. The Con-Edison corporation is one of the largest energy corporations in the world, and they provide electricity for over 10 million people in New York. Con-ed provides energy in three forms; gas, electricity, and steam. The Substation in vinegar Hill produced power with coal burning, and steam, which is evident from the smoke stacks. Unfortunately, four of these stacks had to be removed based on a permit issued by the state of New York because the factory was creating too much pollution. This removal was obviously not free and cost the Con-Ed corp a lot of money, in-fact the maintainance and upkeep of this “useless substation” costs ConEdison around 2.48 million dollars a year, and these expenses do not include the costs of the stacks removal, and other procedures the station needs to do to keep up to date on the environmental laws in New York. In my opinion, this money is wasted because the substation has cased nothing but trouble because there have been several fires and explosions within the facility. However, this money can be used to remodel the substation into a hall of science or a museum, this will not only reduce the costs for maintaining the old substation, but it will bring a lot of profit for Con-Edison.
The Vinegar hill substation should be “transformed” into one of these institutions because the company should put more money into the community due to the little money the company currently donates to the state of New York. The benefits of such institutes doesn’t just make money for Con-Ed, but it will create more jobs, increase the interest of education in the area, create more revenue for the community of Vinegar Hill, and could inspire countless engineers to make a better tomorrow.