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Con Edison Co. of NY, Inc.: Con Edison CEO Kevin Burke Optimistic Due to New York's Vitality

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^{Published in Business and Finance on Monday, May 18th 2009 at 13:32 GMT, Last Modified on 2009-05-18 13:32:51 by Market Wire}  

NEW YORK, NY--(Marketwire - May 18, 2009) - Con Edison (NYSE: [ ED ]) Chairman and CEO Kevin Burke told shareholders at the company's annual meeting today that he was optimistic about the company's future because of New York's vitality.

Burke cited the company's EnergyNY Plan for meeting the area's energy needs, noted the company's solid performance, and reminded shareholders that Con Edison raised its annual dividend for the 35th consecutive year.

"With the nation's largest commercial office market and one of its busiest ports, our region attracts many people who want to live and work here," Burke said. "Since the beginning of the decade, the population in our service area has grown by more than 400,000."

Con Edison's CEO also addressed the difficulties the economy posed for everyday New Yorkers and the company's response: "As you all know, the recession has created hardships for many families, as well as businesses large and small, here in New York and across the nation," Burke said.

"To make things easier for our customers," Burke added, "we are offering flexible payment plans, agreements and extensions. We are also helping those with special needs secure grants."

He noted that energy efficiency comprises a critical part of the company's plan to address customers' increasing demand for power, stating that when less energy is consumed, Con Edison can delay building new infrastructure. Energy efficiency, Burke continued, helps customers save energy and reduce bills, and is good for the environment.

Consolidated Edison, Inc. is one of the nation's largest investor-owned energy companies, with approximately $14 billion in annual revenues and $34 billion in assets. The company provides a wide range of energy-related products and services to its customers through its two regulated utility subsidiaries and its three competitive energy businesses. For additional financial, operations and customer service information, visit Consolidated Edison, Inc.'s Web site at [ www.conedison.com ].