NewsCon Edison Media Relations
Contact: D. Joy Faber
Telephone: (212) 460-4111
For Immediate Release: February 1, 2001
CON EDISON PROPOSES ENERGY EFFICIENCY AND COST SAVING PROGRAMS FOR CUSTOMERS
(New York) - Consolidated Edison Company of New York, Inc. (Con Edison) announced today that the company has proposed to the New York Public Service Commission (PSC) a plan to offer customers innovative energy efficiency and cost-saving programs beginning this summer.
“Our new programs will enable individual customers to manage their energy usage in response to market prices of electricity. Customers will save money. At the same time, by reducing energy demand at times of peak load, they will be helping to improve the supply and demand balance in the wholesale electric market,” said Kevin Burke, president of Con Edison. “Our customers are critical partners in ensuring the success of the new programs, which should work to stabilize the price of energy supply.”
The programs, designed for both commercial and residential customers, seek to reduce peak usage this summer season by as much as 70 megawatts, and by as much as 200 megawatts by 2003. Seventy megawatts is approximately equal to the energy needed to power about 70,000 homes. All programs are voluntary and offer incentives to customers to reduce energy consumption during periods of high electric usage.
Each program provides different energy saving opportunities for customers based on their individual usage needs. Once approved by the PSC, the program proposals will be implemented rapidly, in order to be in place prior to the peak summer season.
The program proposals will include:
The Emergency Demand Response Program
Voluntary Real-Time Pricing Program
Demand Bidding Program
Direct Load Control Program
Steam Air Conditioning Program
Con Edison is a subsidiary of Consolidated Edison, Inc. [NYSE: ED], one of the nation’s largest investor-owned energy companies, with approximately $9 billion in annual revenues and $16 billion in assets. The utility provides electric, gas and steam service to more than three million customers in New York City and Westchester County, New York. For additional financial, operations and customer service information, visit Con Edison’s web site at www.coned.com.