Keeps Pace With Citywide Capital Improvements
While Rebuilding Lower Manhattan
NEW YORK - Consolidated Edison Company of New York, Inc. (Con Edison) said
today that it is investing $533 million this year in enhancements in its electrical
distribution system throughout New York City and Westchester, as the company
met the challenge to complete permanent underground restoration work in lower
Manhattan in time for Summer 2002.
Company officials announced the ongoing infrastructure improvements as Con
Edison crews removed the last of the 36 miles of emergency street-level electric
cables. They were installed to restore service quickly to businesses and residents
following the World Trade Center terrorist attack of September 11, 2001.
"The unparalleled reliability of Con Edison was evident in our response
to the Trade Center disaster, as our men and women moved swiftly to restore
gas, steam and electric service to lower Manhattan. As we remove the last of
these temporary cables from street level, we have renewed our commitment to
continue making improvements in our energy delivery system throughout our service
territory," said Kevin Burke, president of Con Edison.
Louis Rana, vice president of Manhattan Electric Operations, was joined by
local officials at a Battery Park City news conference as Con Edison crews began
removing final sections of emergency street-level electric cable that was used
to restore service to lower Manhattan.
"We are very proud of the 2,000 men and women who worked around the clock
to get downtown back in business and restore electric, gas and steam service
to customers. There is still more work ahead of us in lower Manhattan, but we
accomplished what we set out to do in time for summer," Rana said.
Battery Park City President and CEO Timothy S. Carey said: "On September
12 we started working with Con Edison to begin the process of recovery at Battery
Park City. The skill and speed with which they tackled this difficult job is
a tribute to everyone at Con Edison. The removal of the last temporary street-level
electric cable marks another step forward for our community. I applaud the tireless
efforts of the company's recovery teams and look forward to working with Con
Edison to build an even better and brighter future for Battery Park City."
Community Board #1 Chairperson Madelyn Wils said: "Con Edison has done
a great job rebuilding our electrical infrastructure here in lower Manhattan
while showing sensitivity to the residents and workers in the area. Their workers
are among the many heroes who came through when we needed them most."
As part of Con Edison's summer preparation, the company's capital program this
year includes investing:
· $408 million on the distribution system, including $85 million for
upgrades to cables and transformers;
· $33 million on transmission upgrades; and
· $92 million on substation installations and circuit breakers.
In addition, the company said it would spend an additional $116 million this
year for repairs and enhancements to the electrical systems that were damaged
or destroyed in lower Manhattan on September 11.
Work completed for the summer season's peak demand period includes:
· replacement of 190 miles of underground and aerial feeder cables;
· replacement of 480 thermally sensitive cable joints;
· installation of 178 new transformers;
· enhancement and upgrading of 7 electrical (4kV) unit substations;
· replacement of switchgear in 2 (4kV) unit substations.
Con Edison is a subsidiary of Consolidated Edison, Inc. [NYSE: ED], one of the
nation's largest investor-owned energy companies, with approximately $10 billion
in annual revenues and $17 billion in assets. The utility provides electric,
gas and steam service to more than three 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.
Contact: Michael Clendenin
May 23, 2002