Press Release

NEW YORK, July 20, 2006 /PRNewswire-FirstCall/ -- Consolidated Edison, Inc. (Con Edison) [NYSE: ED] today declared a quarterly dividend of 57 - 1/2 cents a share on its common stock, payable September 15, 2006, to stockholders of record as of August 16, 2006.

Consolidated Edison, Inc. is one of the nation's largest investor-owned energy companies, with approximately $12 billion in annual revenues and $25 billion in assets. The company provides a wide range of energy-related products and services to its customers through the following subsidiaries: Consolidated Edison Company of New York, Inc., a regulated utility providing electric, gas, and steam service in New York City and Westchester County, New York; Orange and Rockland Utilities, Inc., a regulated utility serving customers in a 1,350 square mile area in southeastern New York state and adjacent sections of northern New Jersey and northeastern Pennsylvania; Consolidated Edison Solutions, Inc., a retail energy supply and services company; Consolidated Edison Energy, Inc., a wholesale energy supply company; and Consolidated Edison Development, Inc., a company that owns and operates generating plants and participates in other infrastructure projects.

SOURCE Consolidated Edison, Inc. -0- 07/20/2006 /CONTACT: Michael S. Clendenin, +1-212-460-4111/ /Web site: http://www.coned.com /