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Con Edison Media Relations
Contact: D. Joy Faber
Telephone: (212) 460-4111

For Immediate Release: May 1, 1998


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. \n\n\n\n\n

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