(Recasts, updates number injured, stock prices) NEW YORK, July 19 (Reuters) - Consolidated Edison <ED.N> should feel little long-term financial impact from its steam pipe explosion that rocked New York City during Wednesday's evening rush hour, analysts told Reuters on Thursday. An 83-year-old steam pipe burst underground in midtown Manhattan about 6 p.m. EDT on Wednesday, creating a geyser of brownish water, steam and debris. One person died of cardiac arrest and more than 30 others were injured, some seriously. ConEd shares slipped 10 cents to $45.62 in afternoon trading on the New York Stock Exchange, after rising slightly earlier in the session. Utility analysts said maintaining such an aging, underground system is a difficult task. "Unfortunately, it's impossible for (ConEd) to stay ahead because the pipes are very old and underground," said Barry Abramson, an analyst at Gabelli Asset Management. "This kind of situation could happen anywhere," Daniele Seitz, an industry expert at Dahlman Rose said, adding, "the steam infrastructure is probably the oldest you can think of." ConEd and New York authorities said that while debris from the blast contained asbestos, no airborne samples of the dangerous carcinogen were detected. Though the company will have costs from clean-up and liabilities, the amount should be affordable given ConEd's size. More important, however, will be managing its public image, especially with regulators who determine future rate increases. "They have to handle this well to make sure their public image is not damaged," Abramson said, "So far, so good." The steam unit is a minor part of ConEd total business, contributing only about 5 percent of its revenue, and is used for industrial purposes. Since most buildings in New York City are now residential or commercial rather than industrial, Seitz questioned the continued interest in maintaining the steam delivery business. "Wondering if it's worthwhile to repair a system that very few people are using now," Seitz said. (Reporting by Lisa Lee)
