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investing in the energy infrastructure
Con Edison is engaged in a long-term, multibillion-dollar program to enhance and improve its electric, gas, and steam transmission and distribution systems. This level of investment is necessary to enable the company to meet the continually increasing demand driven by more housing, more computers and office equipment, and more air conditioning. Con Edison needs continued investment to provide the infrastructure that sustains the economic growth of the region, while maintaining the company's unparalleled level of reliability. We take our commitment and our responsibility to our customers and to our service area seriously. In addition to investing in our physical assets, Con Edison is simultaneously working towards improving energy efficiency and protecting the environment. We are taking a comprehensive approach to addressing the future energy needs of our customers. So while we are building new substations and transmission lines, we are also encouraging customers to “go green” and we are working with all levels of government to address climate change. For further information about Con Edison's investments and environmental initiatives, please visit www.coned.com/energyNY News and Information Public Service Commission Approves Electric Delivery Rate and Investment Plan Consolidated Edison Company of New York, Inc. received approval from the New York State Public Service Commission for a three-year rate plan, starting April 1, 2010. The new three-year electric delivery rate plan provides long-term rate certainty for customers, and provides funding for Con Edison to continue investments needed to maintain system readiness and operating reliability. The following are answers to some of the most frequently asked questions about the new rates. For more detailed information on the filing, visit Investor Relations. The plan includes a levelized annual increase of approximately $420 million in each of the three years, April 1, 2010 through March 31, 2013. Once again, increased taxes drive a substantial portion of the rate plan, accounting for approximately 30 percent of the overall increase. How will this affect customers’ bills? A typical New York City residential customer using 300 kilowatt-hours of electricity a month would see a total bill increase of approximately $3.63 per month in the first year. A typical Westchester County residential customer, using 450 kilowatt-hours of electricity a month, would see a total bill increase of approximately $5.04 per month in the first year. What is the basis for the new rate increase? The main driving forces are rising property taxes, other taxes and fees, and the need to invest in infrastructure, operating expenses, and pension costs. Is the company taking any steps to reduce costs? The company has worked diligently to hold down the increase in delivery costs, both through measures that reflect greater efficiencies and continued stringent cost-controls, and through financial adjustments spreading costs out to the future. Tough austerity measures to hold down spending also are included in the new rate plan. What steps has the company taken to help customers conserve energy? Recently, Con Edison launched new energy efficiency programs for eligible small businesses and homeowners that include free energy surveys and rebates for those who upgrade their heating, cooling and hot-water systems. For small businesses, Con Edison will provide free energy audits and give substantial rebates to companies that make major energy efficiency upgrades. Residential customers can take advantage of rebates for installing the most efficient heating, cooling and hot-water equipment. Free programmable thermostats are available to customers with central air-conditioning. We are awaiting approval on additional efficiency programs that will give our customers even more ways to better manage their energy use. We also have programs where we pay businesses that help us temporarily reduce their electricity use during heat waves, and other events that strain our electric grid. For more information, visit Energy Efficiency. What programs do you have to help people pay their bills? For more information, visit Customer Central.
Facts About Our Infrastructure
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Energy is vital to New Yorkers' lives and to New York City, which is the financial, corporate, and communications capital of the United States, as well as a leading world destination for business and tourism. Con Edison provides electric, gas, and steam service to 660-square-miles of New York City and Westchester County, an area with a population of more than nine million residents. We are striving to maintain our excellent reliability record and to build for future economic growth and energy demand by making significant investment in our infrastructure.