Con Edison Forecasts Lower Summer Bills, Despite Tax Increases, but Urges New Yorkers to Conserve Energy

NEW YORK, NY, May 04, 2009 (MARKET WIRE via COMTEX) -- ED | Quote | Chart | News | PowerRating -- Con Edison estimates summer electric bills will drop overall compared with last year due to lower energy supply costs, but the company urges customers to save even more money, and to save the environment, by continuing to conserve energy.

Con Edison is estimating that a typical monthly bill for a New York City residential customer using 350 kilowatt hours (kWh) per month will average about $96.27 for the June-September period, down from $104.23 a month for the same period last year, a 7.6 percent decrease.

Customers in Westchester, who typically use 500 kWh per month, can expect to see their average monthly residential bills for the June-September period drop to $118.15 from $127.13, a 7.1 percent decrease.

Medium-sized business customers in New York City using 10,800 kWh per month also can expect to see lower overall bills this summer, seeing an average monthly bill of $2,496.45, instead of $2,859.23, a 12.7 percent decrease.

The lower summer bills projections come despite recent property tax-increases and a special state assessment that's rising over 500 percent. While the Public Service Commission recently approved an increase in the rate charged for the delivery of electricity, the higher rate is largely to cover higher taxes and fees that the utility must collect for the government.

Energy supply costs usually constitute the largest portion of Con Edison customer bills. The energy supply costs are a direct pass-through to the customer, with no mark-up by Con Edison. Energy supply costs typically constitute between 50 to 60 percent of a customer's summer bill, while approximately 20 percent is devoted to city, state, and federal taxes and government imposed fees. The balance of customer bills goes towards Con Edison costs associated with delivering its customers' energy and maintaining its system.

"With energy supply prices dropping, we encourage our customers to take this opportunity to make sure their homes are as energy efficient as possible. They should consider purchasing Energy Star air conditioners and appliances, installing compact fluorescent bulbs, checking out our remote thermostat program and, in general, conserving energy as much as possible," said Marilyn Caselli, senior vice president of Customer Operations."

Con Edison offers several tips and Web site links to help customers learn how to use energy wisely and manage their bills:

reduce the amount of energy you use. Visit www.conEd.com/thepowerofgreen for conservation tips.

enroll in the company's Level Payment Plan and spread payments evenly over the year. Visit www.conEd.com/customercentral.levelpayment.asp

choose your own energy supplier with Power Your Way. Visit www.poweryourway.com.

Con Edison offers extensions for customers who are finding it hard to pay. Visit www.conEd.com/customercentral/paymentextensions.asp.

Con Edison is a subsidiary of Consolidated Edison, Inc. (NYSE: ED), one of the nation's largest investor-owned energy companies, with approximately $14 billion in annual revenues and $33 billion in assets. The utility provides electric, gas, and steam service to more than 3 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.

Contact:
Media Relations
212-460-4111

SOURCE: Con Edison Co. of NY, Inc.

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