Earlier this month, the company applied for $172 million in federal funding for smart grid projects. The stimulus money would help fund an overall $435 million smart grid program.

A smart grid integrates information and communication technology into electricity generation, delivery, and consumption, making systems cleaner, safer, and more reliable and efficient. The stimulus funds would broaden the scope of Con Edison's existing smart grid efforts to modernize the electric grid.

With one of the highest load densities in the world, New York City, its suburbs, and New Jersey represent the most complex and diverse test bed for urban and suburban smart grid performance. Smart grid technologies would help Con Edison's 3 million customers use energy more efficiently, support alternative energy sources, enable wide spread adoption of electric vehicle charging, and enhance reliability to all customers including major medical facilities, transportation systems, financial institutions, and media centers.

To help make important aspects of a local smart grid a reality, Con Edison will work with several parties in this latest filing that calls for testing various types of innovative smart grid technologies in a large-scale demonstration project.

Numerous elements make up the demonstration project. Some parts include:

--  Working with the New York City Economic Development Corporation and
Viridity Energy to optimize advanced building technologies and solar
generation from City owned properties, such as the Brooklyn Army Terminal,
into clean, virtual power generation.

--  Working with The Boeing Company to create a comprehensive middleware
communications and cyber security network that will serve as the common
operating environment and command and control network of an enhanced Con
Edison smart grid, the same technology in use by the United States
Department of Defense.

--  Working with Columbia University, The Prosser Group and CALM Energy on
technology that allows a smart grid to increase use of renewable energy,
provides intelligent energy storage, incorporates preventive maintenance
and self healing capabilities to avoid system failures.

--  Working with Rudin Management Company Inc. customers to demonstrate
emergency response and energy efficiency improvements.

The objective is to build a smart grid prototype that would enable Con Edison to demonstrate many high-tech and intelligent components, including two-way communication between the company and the customer. The pilot will also enable new technologies that can increase reliability, adaptability and efficiency in grid operation.

This comprehensive demonstration project is intended to also show how new technologies can lower costs for consumers in the most complex energy market in America, while lowering carbon dioxide and other greenhouse emissions. Con Edison and its team will work toward delivering a smart grid expandable to every electric system throughout the country.

The DOE plans to distribute $3.9 billion in Recovery Act funds for smart grid projects through two funding opportunities. The first provides $3.3 billion to deploy and implement smart grid technologies across the country. The second provides $615 million for smart grid demonstration projects.

For more information about Con Edison's smart grid efforts, visit www.conEd.com.

Con Edison, O&R and Rockland are subsidiaries 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 conEd.com.

Contact:
Media Relations
212-460-4111

SOURCE: Consolidated Edison, Inc.