Press Release

NEW YORK, Aug. 23 /PRNewswire/ -- Consolidated Edison Company of New York, Inc. (Con Edison) today launched EnergyShare, an energy fund to assist low-income residential customers who are experiencing financial difficulties and possible termination of electrical service. The program, which will be administered by the non-sectarian 501 (c) (3) human services agency HeartShare, will give one-time grants of up to $200 to qualifying homeowners or renters.

"At Con Edison we are committed to help our customers cope with significant bill increases prompted by the high prices we are paying in the wholesale market for their energy supply this summer," said Marilyn Caselli, Con Edison's Vice President for Customer Operations. "By establishing EnergyShare we are reaching out to low-income residential customers who are having a hard time coping with unexpected significant bill increases due to extraordinary market conditions."

Qualifications for an EnergyShare grant include:

    *     Active Disconnect Notice on the Con Edison account
    *     Accounts where good faith payments have been made in the past
    *     Eligibility for governmental financial assistance.  For example,
          Supplemental Security Income (SSI), Public Assistance, Disability,
          etc.
    *     Federally established Home Energy Assistance Program (HEAP) monthly
          income eligibility.  For example, $1,454 or less for one person;
          $1,901 or less for two; $2,348 for three, etc.

Applications for the EnergyShare grants will be available at locations in the five boroughs and Westchester. For further information, customers should contact HeartShare at: 1 (877) 480-7427.

Last week, Con Edison announced other initiatives to help residential and small to mid-size business customers with their electricity bills:

    *     Level Billing is now open to small and mid-size business customers.
          Currently, about 100,000 residential customers are enrolled in Con
          Edison's Level Billing Program.
    *     All Late Payment Charges assessed from July 3rd through August 30th
          will be cancelled.  This is expected to save customers approximately
          $4 million.

Chartered in 1914, HeartShare Human Services of New York currently assists more than 11,000 children, families and adults in programs ranging from foster care and adoption to community-based family service centers, day care, universal pre-K, youth services, school-based after class and weekend Beacon programs, services for individuals and their families affected by HIV/AIDS, and to a continuum of services for children and adults diagnosed with developmental disabilities.

Consolidated Edison Company of N.Y. is a subsidiary of Consolidated Edison, Inc., one of the nation's largest investor-owned energy companies, with approximately $8 billion in annual revenues and more than $16 billion in assets. The company provides a wide range of energy-related products and services to its customers through two regulated utility subsidiaries and four competitive energy and telecommunications businesses. For additional financial, operations and customer service information, visit the Consolidated Edison Inc. Web site at http://www.conedison.com. SOURCE Consolidated Edison Company of New York, Inc.

CONTACT: Brenda Perez of Consolidated Edison Company of New York, Inc., 212-460-4111/