Press Release

NEW YORK, April 26 /PRNewswire/ -- Consolidated Edison Company of New York, Inc. (Con Edison) said today the company is spending $483 million this year on its electrical distribution system as part of a comprehensive program to prepare for the summer of 2001, enhance reliability and improve infrastructure. Over the next five years, the company said it would invest $2.4 billion to upgrade its electric delivery system, which serves New York City and Westchester County.

The 2001 program includes:

• $392 million on the distribution system, including $108 million for upgrades to cables and transformers;

• $17 million on transmission upgrades; and

• $74 million on substation installations and circuit breakers.

"Con Edison's reputation for delivering electricity to our 3.2 million customers is the best in the country, as certified by national utilities' standards. Our reliability is 10 times better than the New York state average, and 15 times better than the national average," said Robert W. Donohue, senior vice president of electric operations for Con Edison.

"To maintain this level of excellence that our customers deserve and have come to know, our continued system reinforcements are critical and vital to the success of our around-the-clock operations," said Donohue.

Ongoing work to prepare for the summer season's peak demand period includes:

• replacing 182 miles of underground and aerial feeder cables;

• replacing 1,833 cable joints;

• installing 256 transformers; and

• enhancing and upgrading 20 electrical (4kV) unit substations.

This year 115 additional employees have been hired to complement the existing workforce in electric operations, maintenance services and substation operations.

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 $16 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 http://www.coned.com.

                    MAKE YOUR OPINION COUNT -- Click Here
               http://tbutton.prnewswire.com/prn/11690X15739275

SOURCE Consolidated Edison Company of New York, Inc.

CONTACT: D. Joy Faber of Con Edison, 212-460-4111/