Press Release

CON EDISON EXPECTS LOWER GAS PRICES THIS WINTER NEW YORK --

Consolidated Edison Company of New York, Inc. (Con Edison)
announced today that customers can expect lower gas bills this winter.
Lower demand, due in part to warmer temperatures this fall, and increased
production have resulted in an abundance of gas supplies and higher gas storage levels at this time. With supply up and demand stable, residential customers can expect lower bills by up to 12 percent,
commercial customers by up to 13 percent.

"We are pleased that our customers will be able to heat their homes this winter without worrying about the high gas prices that they experienced last year," said Con Edison's Marilyn Caselli, vice president of customer operations. "Higher production this year, with more gas in storage, means that Con Edison's 1.1 million gas customers should see lower bills during this heating season." Con Edison reminds customers that, even with projected lower gas costs, the amount of energy they use determines what their gas bills will be. Simple conservation measures will allow customers to save more this winter. * Set thermostat at 68 degrees in daytime, 60 degrees at night.

* Open curtains and blinds to let the sun in.

* Tape clear plastic over windows to conserve heat.

* Don't block radiators or other heating devices.

* Run ceiling fans at slow speed to mix warm air in the room.

* Shop around for energy. You can buy gas as well as electricity from other energy supply companies.

Customers can also benefit from Con Edison's programs for assistance with their bills through the winter months. For information on Level Billing, energy grants for needy families, and payment plan options for those who have difficulty paying their winter bills, please call 1 (800) 75-CONED. 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 .