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Con Edison Public Information
Richard D. Mulieri, Director
(mulierir@coned.com)
Telephone: (212) 460-4111, Office Hours,
(212) 460-6981, All Other Times

For Immediate Release: January 16, 1997

CON EDISON TO FREEZE GAS RATES FOR FOUR YEARS

An agreement that will freeze Con Edison's rates for natural gas through September 2000 was approved yesterday by the New York State Public Service Commission.

Con Edison's plan to freeze gas rates represents a substantial reduction in the real price of gas service paid by customers, since base rates will remain frozen while inflation is expected to continue at about 3 percent annually. Company officials say that the rate freeze was made possible because of the success of Con Edison's marketing efforts in both traditional and new markets, coupled with its aggressive cost-cutting program. While base rates (Con Edison's charges for distribution and customer service) are frozen for the four-year period of the agreement, actual bills will continue to be subject to changes in the market price of natural gas. In addition to freezing rates, the agreement enables Con Edison to offer customers a range of competitive services, including choice of gas suppliers, tailored pricing, appliance repair and financing.

A typical Con Edison customer using 8 therms of natural gas for cooking now pays an average bill of $18.50 per month. Residential gas heating customers using 300 therms a month will pay an estimated average of $268 monthly during the current heating season, which runs from November through March.




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