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Con Edison Media Relations
Contact: Joe Petta
Telephone: (212) 460-4111

For Immediate Release: February 9, 1998

CON EDISON CAN NOW EXPORT POWER TO CANADA UNDER A NEW LICENSE

Con Edisonís Megawatt-Hour Store, one of the nationís largest power marketers, announced today that it received an export license from the US Department of Energy (DOE) to trade power directly with Canada. Power generated by Con Edison power plants or bought by the companyís Megawatt-Hour Store can now cross the United States-Canadian border on any transmission line, provided the transaction is scheduled in advance.

The Megawatt-Hour Store power traders will be able to sell electricity to the Canadian provinces of Ontario, Quebec and New Brunswick on a daily, weekly or monthly basis. Either party will be able to arrange such delivery by reserving transmission capacity via the OASIS computer program. OASIS, which stands for Open Access Same Time Information System, allows utilities and power marketers to reserve space on transmission lines in order to deliver their power from one location to another.

"The DOE export license will enhance our ability to sell excess electric energy in the expanding marketplace and provide an economic benefit to our customers in New York City and Westchester County." said Michael Forte, Con Edisonís general manager of the Megawatt-Hour Store.

Prior to receiving the export license, Con Edison bought and sold power under an existing diversity contract with Hydro-Quebec. The contract, which runs until the end of 1998, allows Con Edison to receive power from Quebec during the summer and then return it during the winter. The power delivered under the diversity contract requires a specific transmission route and its transactions must be billed through a third party, which is different from the new export license.

Consolidated Edison Company of New York, Inc. is one of the nationís largest utility companies, with more than $7 billion in annual revenues and $15 billion in assets. The company, a subsidiary of Con Edison, Inc., provides electric, gas and steam service to more than three million customers in New York City and Westchester County, New York. \n\n\n\n\n

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