Con Ed shareholders will bear the $37 million cost of cleaning up the July 2007 Midtown steam blast, under a deal approved by the state Public Service Commission.
The settlement, which imposes no monetary fines, penalties or punishment against the company, closes out the state’s investigation of the disastrous explosion, which killed a woman and injured several other people.
Lawyer Kenneth Thompson, who represents two people badly hurt in the blast in suits against Con Ed, called the deal “a complete joke.”
But state law bars the PSC from demanding money damages from Con Ed.