Freehold, NJ, August 13, 2003 - With the state's largest energy consumers facing removal of state-imposed caps on their electricity prices, Monmouth County has selected ConEdison Solutions -- one of the nation's leading energy service providers -- to supply power to four of its most energy-intensive facilities..

 

County officials project that the ten-month electricity contract with ConEdison Solutions will reduce county energy bills by approximately $125,000.

 

Marking the county's entrance into New Jersey's increasingly deregulated energy marketplace, ConEdison Solutions will supply electricity to Brookdale Community College in Lincroft, the Monmouth County Courthouse in Freehold, the Monmouth County Reclamation Center in Tinton Falls, and the Monmouth Materials Processing and Recovery Facility in Neptune.

 

The new supplier was selected through a competitive bidding process. The switch from Jersey Central Power & Light, a regulated utility, took effect August 1.

 

"We are proud to participate in this cost-effective energy partnership with Monmouth County," said JoAnn Ryan, president and CEO of ConEdison Solutions. "The county is helping lead the way in securing benefits from the deregulated energy marketplace."

 

Beginning August 1, the state's 1,750 largest energy consumers were required to begin paying variable, deregulated energy prices that reflect market fluctuations. Major energy users failing to make the switch from traditional utilities, are also being required to pay an added fee based on the amount of power they consume.

 

Under the terms of the state's phased-in deregulation program, additional segments of New Jersey's commercial, industrial and institutional sectors will, in coming years, be induced to switch to private, state-registered energy suppliers like ConEdison Solutions.

 

ConEdison Solutions' "indexed" pricing program for Monmouth County guarantees to keep prices lower than traditional utility rates for the full term of the contract. By purchasing their electricity supply from ConEdison Solutions, the county will now pay less than it would have paid if it had stayed with its utility.

 

In addition to the indexed-rate pricing plan, Ryan said the company offers a fixed pricing alternative that protects users against price increases and facilitates the long-term budgeting of energy expenses.

 

ConEdison Solutions, which is pursuing energy supply contract opportunities with a number of New Jersey corporations and institutions, provides a wide range of energy procurement and management services that help commercial, industrial, government and residential customers gain maximum advantage from today's competitive energy marketplace.

 

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 website at http://www.conedsolutions.com/.  You can also visit the Consolidated Edison, Inc. website at http://www.conedison.com/ for information on all of the Consolidated Edison companies.