White Plains, NY, March 17, 2003 - ConEdison Solutions, one of the nation's leading energy service providers, today announced the acquisition of the assets of the energy and engineering services division of XENERGY, Inc., a Burlington, Massachusetts-based energy services and consulting company.

 

The XENERGY unit provides consulting and performance contracting services to the federal government.  The transaction provides ConEdison Solutions with Department of Energy and Department of Defense Energy Saving Performance Contracts (ESPC) that allow ConEdison Solutions to be a preferred provider of energy-related services to the federal government. 

 

"This acquisition fortifies ConEdison Solutions' competitive position in the energy services marketplace and expands its role as a provider of energy efficiency services to federal agencies," said JoAnn Ryan, president and CEO of ConEdison Solutions.  "Our team of energy experts will provide an array of services to federal agencies to help them overcome energy-related challenges.  We will build upon XENERGY's strong track record in the field of energy services and consulting."

 

"As an ESPC contractor, ConEdison Solutions can broaden its geographic reach and strengthen its presence in the government sector," said Ms. Ryan.  "Ultimately, these energy services help relieve the burden on taxpayers by reducing energy consumption by the federal government."   
 
The acquisition includes the purchase of contracts for work completed and in progress at Fort Hamilton in Brooklyn, New York, Hanscom Air Force Base in Bedford, Massachusetts, the John F. Kennedy Library in Boston, Massachusetts and other government facilities.  

 

ConEdison Solutions provides a wide range of energy procurement and management services to companies, helping its customers successfully navigate the new competitive energy landscape. ConEdison Solutions also supplies attractively priced electricity, natural gas, and value-oriented services to residential and small business customers.  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 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.