CONTACT: Christine Nevin, ConEdison Solutions
CONTACT: Julia Winkler, The Marino Organization
CON EDISON SOLUTIONS BEATS CT UTILITIES' PRICE
--Promises Savings to Major Electricity Users--
White Plains, NY - December 4, 2006 - ConEdison Solutions, one of America's leading energy service providers, is currently able to offer Connecticut’s largest electricity consumers guaranteed savings on their electric supply costs compared to the prices that will be offered by Connecticut Light & Power and United Illuminating starting on January 1st, 2007.
The company announced the price guarantee after Connecticut Light & Power filed for a rate increase of nearly 19 percent for those customers with greater than 500 kilowatt (kW) maximum monthly demand (referred to as Supplier of Last Resort or “SOLR” customers). The rate filing also included increases of approximately 8.9 percent for customers that use less than 500 kW maximum monthly demand (“Standard Service” customers).
In addition to the Connecticut Light & Power rate increase, United Illuminating has also released their proposed rates. Under the proposal, United Illuminating’s SOLR customers will have their rates increase by over 77 percent and Standard Service customer rates will increase by over 46 percent.
Based in White Plains, New York, ConEdison Solutions entered the Connecticut energy marketplace last month to serve commercial, industrial and government users. The company offers competitively priced electricity and energy management solutions to businesses across the state.
“ConEdison Solutions has the experience, the financial strength and the market knowledge to guarantee price savings to large electricity users in Connecticut,” said Jorge Lopez, president and CEO of ConEdison Solutions. "In an era of increasing price fluctuation in the energy marketplace, this guarantee allows major energy consumers to remain competitive by immunizing themselves against price volatility and market risk.”
Mr. Lopez said that ConEdison Solutions’ prices are also competitive for mid-sized electricity consumers. The company offers a range of pricing options to business and institutional customers, including fixed-price and variable-price options, and flexible contract lengths.
“We are proud to offer Connecticut consumers a range of electric energy options, backed by an unparalleled commitment to customer service,” said Mr. Lopez. “ConEdison Solutions is building an ever stronger presence in the Northeast with its entry into the Connecticut market. With substantial utility energy price increases on the horizon, it appears that we have entered the Nutmeg State at an ideal time for Connecticut businesses.”
Kevin Martinsen, the company’s director of commodity sales, is leading the Connecticut market effort. Mr. Martinsen can be reached at 914-286-7016. Companies switching from their traditional utility to ConEdison Solutions will find the changeover easy, seamless, and without service interruption.
ConEdison Solutions is a leading energy services company that provides cost-effective energy solutions for commercial, industrial, residential and government customers. Based in White Plains, New York, with offices in Burlington, Massachusetts; Cherry Hill, New Jersey; Arlington, Virginia and Houston, Texas, the company's dedicated team of energy professionals delivers a broad range of commodity, consulting, demand-side management, and performance contracting services. ConEdison Solutions creates customized programs and services tailored to help customers achieve their individual energy objectives.
ConEdison Solutions is a subsidiary and registered trademark of Consolidated Edison, Inc. (NYSE: ED). More information can be obtained by calling 1-888-210-8899 or visiting the ConEdison Solutions web site at http://www.conedsolutions.com/. Visit the Consolidated Edison, Inc. web site at http://www.conedison.com/ for information on all Consolidated Edison companies.
