CON EDISON INVESTS

 $1.5 BILLION FOR SUMMER ’09

Incentives for Customers to Reduce Energy Use

NEW YORK – Consolidated Edison Company of New York, Inc. (Con Edison) is investing approximately $1.5 billion this year to upgrade and reinforce its electric delivery system, including upgrading multiple transformers, and replacing and installing approximately 2,000 miles of electrical cable – more than enough cable to extend from New York City to Denver.

The $1.5 billion in overall system investments this year includes:

•  $905 million on the distribution system for cables, transformers and network protectors;
  
•  $222 million on transmission upgrades and system reliability; and 
  
•  $347 million on new substation installations and related equipment.
  

Con Edison expects to spend more than $7 billion over the next five years on its electric delivery system to maintain reliability and support economic growth projected in its service area. 

“Despite the economic downturn, we continue to invest in our electric delivery system to maintain reliable service for the 9 million people we serve.  Our crews have been working through the winter months, getting our substations, transmission lines and local distribution cables ready to handle the needs of our customers when the weather turns hot and air conditioners start running,” said Louis L. Rana, president and chief operating officer of Con Edison.  “We continue to encourage our customers to conserve energy, and to learn how to make their homes and businesses as energy efficient as possible.”

Additional electric delivery system improvements and upgrades for this summer include the installation of approximately 2,000 miles of primary and secondary cable; the installation of approximately 3,000 transformers; and the reinforcement or addition of 248 feeders, or circuits that bring power from substations to neighborhoods.

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Summer Preparedness 2009                                                        Page two

This summer Con Edison is forecasting a peak electricity demand of 13,750 megawatts in its service area, including a projected peak of 11,945 megawatts for New York City and 1,805 megawatts for Westchester County.  The record peak – 13,141 megawatts – was set at 5 p.m. on Aug. 2, 2006.

One new area substation is online this year, providing over 100 megawatts of electricity to midtown Manhattan and additional capacity for future load growth.  One megawatt can power approximately 1,000 homes.

Customers are still advised to conserve energy year round, but particularly during periods of excessive high heat and humidity. Conservation also can help customers save money on their electric bills. Several helpful tips can be found at www.conEd.com/thepowerofgreen.

Financial incentives are available to customers who help to maintain service reliability by using less energy. Customers who can reduce a minimum of 50 kilowatts when requested can receive payment for their energy reduction. For more information, visit www.conEd.com/dr.

Customers with central air-conditioning systems can manage their energy use with a free programmable thermostat that can adjust the temperature remotely through the Internet. To receive the thermostat call toll-free 1-866-521-8600, or request online at www.conEd.com/cool

 
To help its customers report service problems more quickly, customers can still call the company at 1-800-75-CONED. They also can report service problems online at www.conEd.com.

For more information, visit the Con Edison home page at www.conEd.comand click on the Summer Preparedness 2009 link.

Con Edison is a subsidiary of Consolidated Edison, Inc. [NYSE: ED], one of the nation’s largest investor-owned energy companies, with approximately $14 billion in annual revenues and $34 billion in assets. The utility provides electric, gas and steam service to more than 3 million customers in New York City and Westchester County, New York. For additional financial, operations and customer service information, visit Con Edison’s Web site at www.conEd.com.

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