Press Release

NEW YORK, June 6 /PRNewswire-FirstCall/ -- Consolidated Edison Company of New York, Inc. (Con Edison) announced today that it has issued a Request For Proposals (RFP) seeking qualified respondents to administer a program aimed at reducing electricity use during peak periods by 125 megawatts over five years beginning May 1, 2004. A reduction in peak energy use of 125 megawatts would represent saving the energy required to power 125,000 homes. The company is seeking to achieve these energy-use reductions in selected neighborhoods throughout its service area.

"Over the past several years, we have seen power use throughout our service area growing. Supply, however, has remained relatively unchanged. At the same time, energy use in certain neighborhoods has increased at a faster pace than in others. That growth has necessitated electric delivery improvements in those communities sooner than planned," said Stephen F. Wood, vice president of engineering services for Con Edison.

"We're offering customers in areas where power use is anticipated to continue growing rapidly a creative way to help reduce their electricity use. Customers will realize ongoing savings by lowering their energy costs, and this program also will have environmental benefits," Wood added.

Among the energy-saving measures that may qualify for the program are conversions to energy-efficient lighting, motors, air conditioning systems and refrigeration. The RFP offers financial incentives to spur interest and provides funding to move these energy reducing measures into the marketplace.

A little over a month ago, as a result of an RFP issued last December seeking to purchase 500 megawatts of electric capacity dedicated to New York City, the company awarded a 10-year contract for 500 megawatts of electric capacity and energy to Astoria Energy LLC, a subsidiary of SCS Energy LLC. The power will be supplied from a new, natural gas fired power plant to be built in Astoria, N.Y., which is scheduled to begin providing electricity by May 1, 2006.

Prospective respondents may request a copy of the RFP by sending an e-mail to sales@coned.com.

Con Edison is a subsidiary of Consolidated Edison, Inc. (NYSE: ED), one of the nation's largest investor-owned energy companies, with $9 billion in annual revenues and approximately $19 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 www.coned.com.

SOURCE Consolidated Edison Company of New York, Inc. -0- 06/06/2003 /CONTACT: Joseph Petta of Con Edison, +1-212-460-4111/ /Web site: http://www.coned.com / (ED)