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

For Immediate Release: April 1, 1997

Megawatt-Hour Store Becomes a Power Marketer--
Expects to Move Up the Power Marketer's List in 1997

Con Edison's request to become a power marketer was approved by the Federal Energy Regulatory Commission (FERC) on March 14, 1997. The company can now sell at market-based rates and derive profit for its customers and shareholders as a power marketer. Formerly, the company was restricted to doing business at cost-based rates, which are set by FERC tariff at the incremental cost of power, plus a small margin.

"Now that we're a marketer, I expect to increase our sales and purchases and better our ranking on the annual Power Markets Week(PMW)list in 1997. This will mean better deals for our existing and future customers," said Ken Bekman, Con Edison's Megawatt-Hour Store Proprietor. PMW publishes an annual list of power marketer sales and purchases nationwide.

"In 1996, we sold 3.9 million megawatt-hours of electricity to power marketers and utilities in the New York tri-state area," said Bekman. "This would have made us the 13th largest power marketer in the country based on sales, and the eighth largest based on purchases of 9.7 million megawatt-hours, if we had been classified as a marketer," he added.

The Megawatt-Hour Store began operation in 1993, and quickly became a major player in the bulk-power market. The approval of the FERC filing will enable trading activities to be conducted in a larger geographic area. 1996 sales of 3.9 million megawatt-hours of electricity represents enough power to light up almost one million homes.

The Store is building a new state-of-the-art bulk-power trading floor at the company's corporate headquarters located at 4 Irving Place, New York City. Fuel procurement for Con Edison's fossil power plants has been integrated with bulk power trading in order to create arbitrage opportunities between fuel and electricity.

Parties wishing to conduct bulk power or fuel transactions through Con Edison's Megawatt-Hour Store can call Ken Bekman at 1-888-MEGAWAT (1-888-634-2928).

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