News
Con Edison Media Relations
Contact: D. Joy Faber
Telephone: (212) 460-4111
For Immediate Release: May 1, 1998
CON EDISON ENDS FIRST PHASE OF RETAIL CHOICE
WITH HIGH ENROLLMENT; LOTTERY SET FOR UTILITY CUSTOMERS
The Consolidated Edison Company of New York, Inc. (Con Edison)
ended the enrollment period for the first phase of its Retail Choice
program with 75,794 customers applying for participation. This
represents 1,555 megawatts of electric load. The formal enrollment
period ended Thursday, April 30.
Because of the strong customer response, an independent lottery
will be conducted for certain classes once enrollment data is
verified. The formal program will begin June 1. Eligible customers
who applied for the initial phase of the program but were unable to
participate because of the program's over-subscription will receive
preference when selection for the second phase begins.
The program enrollment exceeded all company expectations,
creating customer demand requiring an extension of the original
program limit to add 16,000 customers and 150 megawatts. Customers
who participate in the Retail Choice Program opt to purchase their
electricity from energy service companies (ESCOs) working in Con
dison's service territory of New York City and Westchester County.
"Quite naturally we are pleased with these extraordinary
customer registration figures," said Gary Groscup, Con Edison vice
president, customer operations. "We went out of our way to educate
our customers about this new process of choosing electricity
suppliers. As the numbers prove, New Yorkers like choice," Groscup
said.
A total of 16 ESCOs signed agreements to participate in the
program. One of them, Energis Resources, a full-service ESCO and an
unregulated subsidiary of Public Service Enterprise Group
Incorporated (NYSE: PEG), signed more than 1,000 new commercial and
industrial contracts during the program, including several marquee
clients such as Radio City Music Hall and International Paper.
"Although we are still compiling our final results, Energis
Resources is optimistic about our company's overall performance in
this pilot program," said Paul Yatcko, vice president, Energy Supply,
Energis Resources. "Our experience with the Retail Choice Program
has been exceptionally favorable relative to the competitive
environment. We found that New York customers were well prepared to
take advantage of new options and services as soon as they became
available," Yatcko added.
Retail Choice will be completely phased in over the next several
years, giving all customers the option to choose their electricity
supplier no later than year-end 2001.
Con Edison is one of the nation's largest utility companies,
with more than $7 billion in annual revenues and approximately $15
billion in assets. The company, a subsidiary of Consolidated Edison,
Inc., provides electric, gas and steam service to more than three
million customers in New York City and Westchester County, New York.
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