## Table 0 ##
(a) CECONY’s capital expenditures for environmental protection facilities and related studies were $178 million, $218 million and $224 million in 2013, 2014 and 2015, respectively, and are estimated to be $246 million in 2016.
(b) Estimates do not include amounts for the energy efficiency, demand reduction and combined heat and power programs discussed under “CECONY – Electric Operations – Electric Supply,” above.
The Utilities have an ongoing need to make substantial capital investments primarily to maintain the reliability of their electric, gas and steam delivery systems.
Their estimated construction expenditures also reflect programs that will give customers greater control over their energy usage and bills, help integrate new clean energy technologies into the Utilities’ electric delivery systems and accelerate their gas main replacement program.
Estimated capital expenditures for Con Edison Transmission reflect planned investments in electric and gas transmission projects.
Estimated capital expenditures for the competitive energy businesses reflect planned investments in renewable generation and energy infrastructure projects.
Actual capital expenditures for Con Edison Transmission and the competitive energy businesses could significantly increase or decrease from the amounts estimated depending on market conditions and opportunities.
Contractual Obligations The following table summarizes the Companies’ material obligations at December 31, 2015 to make payments pursuant to contracts.
Long-term debt, capital lease obligations and other noncurrent liabilities are included on their balance sheets.
Operating leases and electricity purchase agreements (for which undiscounted future annual payments are shown) are described in the notes to the financial statements.
acquire operations and facilities from municipalities and other local governments, as they increasingly seek to raise capital and reduce risk.
We realize synergies from consolidating businesses into our existing operations, whether through acquisitions or public-private partnerships, which allow us to reduce capital and expense requirements associated with truck routing, personnel, fleet maintenance, inventories and back-office administration.
Operating Model The goal of our operating model pillar is to deliver a consistent, high quality service to all of our customers through the Republic Way: One Way.
Everywhere.
Every day.
This approach of developing standardized processes with rigorous controls and tracking allows us to leverage our scale and deliver durable operational excellence.
The Republic Way is the key to harnessing the best of what we do as operators and translating that across all facets of our business.
A key enabler of the Republic Way is our organizational structure that fosters a high performance culture by maintaining 360 degree accountability and full profit and loss responsibility with local management, supported by a functional structure to provide subject matter expertise.
This structure allows us to take advantage of our scale by coordinating functionally across all of our markets, while empowering local management to respond to unique market dynamics.
We have rolled out several productivity and cost control initiatives designed to deliver the best service possible to our customers in the most efficient and environmentally sound way.
Fleet Automation Approximately 74% of our residential routes have been converted to automated single driver trucks.
By converting our residential routes to automated service, we reduce labor costs, improve driver productivity, decrease emissions and create a safer work environment for our employees.
Additionally, communities using automated vehicles have higher participation rates in recycling programs, thereby complementing our initiative to expand our recycling capabilities.
Fleet Conversion to Compressed Natural Gas (CNG) Approximately 18% of our fleet operates on natural gas.
We expect to continue our gradual fleet conversion to CNG, our preferred alternative fuel technology, as part of our ordinary annual fleet replacement process.
We believe a gradual fleet conversion is most prudent to realize the full value of our previous fleet investments.
Approximately 36% of our replacement vehicle purchases during 2016 were CNG vehicles.
We believe using CNG vehicles provides us a competitive advantage in communities with strict clean emission initiatives that focus on protecting the environment.
Although upfront capital costs are higher, using CNG reduces our overall fleet operating costs through lower fuel expenses.
As of December 31, 2016, we operated 38 CNG fueling stations.
Standardized Maintenance Based on an industry trade publication, we operate the eighth largest vocational fleet in the United States.
As of December 31, 2016, our average fleet age in years, by line of business, was as follows:
## Table 1 ##
Note 5.
Available-for-Sale Investments The following table summarizes the Company’s available-for-sale investments classified as non-current assets that are carried at fair market value in the consolidated balance sheet at December 31, 2008:
## Table 2 ##
December 31, 2007
## Table 3 ##
The Company’s available-for-sale investments, consisting of auction rate securities at December 31, 2008 and 2007, are exposed to market risk related to changes in conditions in the U. S.  financial markets and in the financial condition of the issuers of these securities.
The Company’s investment in auction rate securities at December 31, 2008 and 2007 had an original cost of $44.7 million.
These auction rate securities consisted of two contingent capital securities that were converted into perpetual preferred stock of Ambac Assurance Corporation (“AMBAC”), the issuer, in December 2008, and three debt instruments issued individually by Primus Financial Products LLC (maturity date 2021), River Lake Insurance Company, a wholly-owned subsidiary of Genworth Financial, Inc.  (maturity date 2033) and Ballantyne Re Plc (maturity date 2036).
These five securities historically were re-auctioned every twenty-eight days, which had provided a liquid market for them.
However, as a result of continuing liquidity concerns affecting capital markets, particularly in the U. S. , specifically for asset-backed securities, every auction held by the issuers for these auction rate securities in 2008 failed.
During 2008, the Company continued to receive all interest and dividend payments, totaling $2.2 million, when due.
The Company accounts for these investments as available-forsale investments and reviews them for impairment in accordance with SFAS No.115, “Accounting for Certain Investments in Debt and Equity Securities,” and other related guidance issued by the FASB and the SEC.
During its impairment review, the Company has evaluated the following: .
in the fourth quarter of 2008, the rating agencies lowered the credit rating on all of the issuers; .
the timeliness and level of interest and dividend payments received from the issuers; .
the duration and severity in the decline in the estimated fair market value of these securities; .
the exercise of AMBAC’s put option, which converted the two contingent capital securities into non-cumulative perpetual preferred stock of AMBAC Assurance in December 31, 2008; .
AMBAC’s cancellation of dividends on its common stock in December 2008; .
Ballantyne’s notification in January 2009 that it was unable to fully fund its upcoming interest payments.
As a result, Ballantyne exercised its option to rely on the insurance protection provided to it by AMBAC (UK), the issuer of an insurance wrap on this debt instrument held by the Company; and .
the ability and intent of the Company to hold these securities for a reasonable period of time sufficient for a recovery of their original cost.
Based on the evaluation discussed above, the Company has determined that all of the securities incurred an other than temporary decline in fair market value.
As a result, in 2008, the Company recorded an other than temporary impairment of the market value of these securities of $34.0 million ($21.8 million, net of taxes) and established a new cost basis of $10.7 million for these securities at December 31, 2008.

<table><tr><td></td><td colspan="3">Actual</td><td colspan="3">Estimate</td></tr><tr><td>(Millions of Dollars)</td><td>2013</td><td>2014</td><td>2015</td><td>2016</td><td>2017</td><td>2018</td></tr><tr><td>Regulated utility construction expenditures</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>CECONY (a)(b)</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Electric</td><td>$1,471</td><td>$1,500</td><td>$1,658</td><td>$1,978</td><td>$2,002</td><td>$1,975</td></tr><tr><td>Gas</td><td>536</td><td>549</td><td>671</td><td>790</td><td>928</td><td>944</td></tr><tr><td>Steam</td><td>128</td><td>83</td><td>106</td><td>97</td><td>69</td><td>72</td></tr><tr><td>Sub-total</td><td>2,135</td><td>2,132</td><td>2,435</td><td>2,865</td><td>2,999</td><td>2,991</td></tr><tr><td>O&R</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Electric</td><td>98</td><td>105</td><td>114</td><td>140</td><td>137</td><td>134</td></tr><tr><td>Gas</td><td>37</td><td>37</td><td>46</td><td>48</td><td>48</td><td>50</td></tr><tr><td>Sub-total</td><td>135</td><td>142</td><td>160</td><td>188</td><td>185</td><td>184</td></tr><tr><td>Total regulated utility construction expenditures</td><td>2,270</td><td>2,274</td><td>2,595</td><td>3,053</td><td>3,184</td><td>3,175</td></tr><tr><td>Con Edison Transmission</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>CET Electric</td><td>—</td><td>—</td><td>—</td><td>58</td><td>—</td><td>—</td></tr><tr><td>CET Gas</td><td>—</td><td>—</td><td>—</td><td>57</td><td>171</td><td>179</td></tr><tr><td>Sub-total</td><td>—</td><td>—</td><td>—</td><td>115</td><td>171</td><td>179</td></tr><tr><td>Competitive energy businesses capital expenditures</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Renewable and energy infrastructure projects</td><td>378</td><td>447</td><td>823</td><td>985</td><td>360</td><td>360</td></tr><tr><td>Sub-total</td><td>378</td><td>447</td><td>823</td><td>985</td><td>360</td><td>360</td></tr><tr><td>Total capital expenditures</td><td>2,648</td><td>2,721</td><td>3,418</td><td>4,153</td><td>3,715</td><td>3,714</td></tr><tr><td>Retirement of long-term securities</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Con Edison – parent company</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td><td>2</td></tr><tr><td>CECONY</td><td>700</td><td>475</td><td>350</td><td>650</td><td>—</td><td>1,200</td></tr><tr><td>O&R</td><td>3</td><td>3</td><td>143</td><td>79</td><td>4</td><td>54</td></tr><tr><td>Competitive energy businesses</td><td>1</td><td>5</td><td>4</td><td>8</td><td>10</td><td>10</td></tr><tr><td>Total retirement of long-term securities</td><td>706</td><td>485</td><td>499</td><td>739</td><td>16</td><td>1,266</td></tr><tr><td>Total capital requirements</td><td>$3,354</td><td>$3,206</td><td>$3,917</td><td>$4,892</td><td>$3,731</td><td>$4,980</td></tr></table>
<table><tr><td></td><td>Approximate Number of Vehicles</td><td>Approximate Average Age</td></tr><tr><td>Residential</td><td>7,300</td><td>7</td></tr><tr><td>Small-container Commercial</td><td>4,400</td><td>7</td></tr><tr><td>Large-container Industrial</td><td>4,100</td><td>9</td></tr><tr><td>Total</td><td>15,800</td><td>7.5</td></tr></table>
<table><tr><td> December 31, 2008</td><td> Original Cost</td><td>Gross Other Than Temporary Impairment</td><td> Estimated Fair Market Value</td></tr><tr><td>Auction rate securities:</td><td></td><td></td><td></td></tr><tr><td>Debt instruments with contractual maturity dates in 2021, 2033, and 2036</td><td>$24.7</td><td>$-17.0</td><td>$7.7</td></tr><tr><td>Non-cumulative perpetual preferred stock</td><td>20.0</td><td>-17.0</td><td>3.0</td></tr><tr><td>Total</td><td>$44.7</td><td>$-34.0</td><td>$10.7</td></tr></table>
<table><tr><td> December 31, 2007</td><td> Cost</td><td>Gross Unrealized Losses</td><td> Estimated Fair Market Value</td></tr><tr><td>Auction rate securities:</td><td></td><td></td><td></td></tr><tr><td>Debt instruments with contractual maturity dates in 2021, 2033, and 2036</td><td>$24.7</td><td>$-0.7</td><td>$24.0</td></tr><tr><td>Contingent capital securities with no maturity dates</td><td>20.0</td><td>-3.2</td><td>16.8</td></tr><tr><td>Total</td><td>$44.7</td><td>$-3.9</td><td>$40.8</td></tr></table>

Question: What will Total capital requirements be like in 2016 if it develops with the same increasing rate as current? (in million)
Answer: 4785.67966