Press Release

NEW YORK, NY, Sep 30, 2008 (MARKET WIRE via COMTEX News Network) -- Consolidated Edison, Inc. has been cited for environmental excellence in two recent rankings recognizing overall corporate governance efforts for taking responsibility and developing a management approach to address climate change.

Consolidated Edison was ranked second in North America and fourth internationally among 26 multi-utility companies rated in a 2008 survey by Innovest Strategic Value Advisors, an entity providing performance analysis uncovering hidden value for strategic investors.

The company also ranked third among S&P 500 utilities in the worldwide Carbon Disclosure Project's (CDP) 2008 rankings. Since 2000, the CDP, on behalf of institutional investors, has asked the world's largest companies to measure and report carbon emissions while discussing company approaches to climate change and corporate "climate governance" issues.

"We are always pleased to be placed in the top tier of companies undertaking environmental initiatives," said Randolph S. Price, Con Edison's vice president for Environment, Health and Safety. "We are continuing to emphasize a corporate culture that embraces environmental excellence as a personal value for every employee," Price added.

Con Edison's significant carbon emission reductions include a more than 25% drop since 2000, through upgrading electrical equipment, replacing generating equipment with natural-gas-burning combustion turbines, and through implementing cogeneration technologies that reduced greenhouse gas emissions per energy-output unit, among other actions.

The company also is continuing a number of green initiatives and policies to reduce environmental impacts, including:

--  Replacing some types of oil-filled cable with solid-state electrical
    transmission and distribution cables.
--  Reducing methane emissions through enhanced inspections and
    maintenance at gas facilities, and by implementing equipment upgrades.
--  Supporting the Regional Greenhouse Gas Initiative, a first step by
    Northeastern and Mid-Atlantic states toward controlling emissions that
    contribute to global warming.
--  Installing a "green roof" atop its Learning Center in Long Island
    City.
--  Rolling out an EnergyNY program to inform New Yorkers and others about
    ways to save money and energy relative to their energy use and utility
    costs.
--  Supporting local climate change efforts in New York City and
    Westchester County.
--  Establishing a goal to achieve at least 500 MW of demand reduction
    among customers by 2015, the equivalent electrical output of a new power
    plant.
--  Greening its vehicular fleet through use of alternative fuel vehicles,
    including hybrids.

Consolidated Edison, Inc. (NYSE: ED) is one of the nation's largest investor-owned energy companies, with approximately $13 billion in annual revenues and $30 billion in assets. The company provides a wide range of energy-related products and services to its customers through its two regulated utility subsidiaries and its three competitive energy businesses. For additional financial, operations and customer service information, visit Consolidated Edison, Inc.'s Web site at www.conedison.com.

CONTACT:
Media Relations
212-460-4111

SOURCE: Consolidated Edison, Inc.