White Plains, NY, May 12, 2004 - ConEdison Solutions, one of the nation's leading energy service providers, was one of several winners of an Internet-based "reverse" energy auction to provide low-cost energy supply to a number of executive branch departments and agencies in the state of Maryland. The company won a significant amount of the shares auctioned, which was 40 percent of the total state energy business available in the auction.

 

On April 1, state officials announced that the White Plains-based firm had won the largest share of energy contracts in a competition with five other deregulated energy suppliers vying for the state's business.

 

ConEdison Solutions' representatives said the company had won approval to provide 95 megawatts of a total of approximately 220 megawatts at stake in the auction sponsored by the Maryland Department of General Services. 

 

"Maryland's selection of ConEdison Solutions confirms our status as a national leader in energy procurement," said JoAnn F. Ryan, president and CEO of ConEdison Solutions.  "When the time came for Maryland to determine the best way taxpayers could benefit from the increasingly deregulated energy marketplace, the state turned to ConEdison Solutions."

 

State officials project that Maryland taxpayers will experience energy cost savings of $3 million over the next two years through the unprecedented deregulation initiative.  As one of Maryland's largest power consumers, the auction was designed to allow the state to lock in the lowest possible rates before price caps expire on June 30. 

 

"Thanks to this auction, we are optimistic the state will be able to avoid unpredictable and costly electric rate increases," Maryland Governor Robert L. Ehrlich, Jr. said in a news release issued April 1.  "These contracts help avoid price spikes and ensure that Maryland taxpayers are paying the lowest possible rates for their state government's energy needs."

 

ConEdison Solutions offers deregulated electricity that helps control cost volatility and can also reduce its customer's overall energy expenditures.

 

ConEdison Solutions only recently entered the Maryland electricity market and, according to Ms. Ryan, will offer a variety of retail electricity products to government, commercial and industrial customers in that state.

 

"Businesses throughout Maryland have a new opportunity to exercise control over their energy budgets," said Ms. Ryan.  "ConEdison Solutions' offers will be attractive to Maryland energy users because of our customer-friendly billing methods, ease of doing business with us and our commitment to customer service."

 

With respect to the auction results, Boyd K. Rutherford, Secretary of Department of General Services, said in the April 1 news release that the procurement would allow the state to reduce the impact of what it expects will be increasingly higher costs for energy.

 

"This first-of-its-kind auction was able to take advantage of the competitive electricity market," said Mr. Rutherford.  "Our intent was to mitigate increases, and we have done that by avoiding spending more than $3 million over the next two years."

 

ConEdison Solutions currently supplies competitively priced energy and energy management services to commercial, industrial, government and residential customers throughout the Northeast and Mid-Atlantic regions. Some of its clients include the U.S. Postal Service, the U.S. Department of Energy, and many of New York City's most prominent commercial property management companies.

 

Based in White Plains, New York, with offices in Burlington, MA, Cherry Hill, NJ, and Arlington, VA, the company's dedicated team of energy professionals delivers a broad range of commodity, consulting, demand-side management and performance contracting services. 

 

ConEdison Solutions is a subsidiary and registered trademark of Consolidated Edison, Inc. (NYSE: ED).  More information is available at www.conedsolutions.com.  You can also visit the Consolidated Edison, Inc. website at www.conedison.com for information on all of the Consolidated Edison companies.