Update on Con Edison Matters Before the PSC

ALBANY, NY (03/04/2010)(readMedia)-- The New York State Public Service Commission (Commission) heard several oral reports from Staff of the Department of Public Service related to a Joint Proposal for multi-year rates for electric service, capital expenditures and on-going audits of Consolidated Edison Company of New York, Inc. (Con Edison). Issues related to a new rate plan and capital investments will be further considered at the Commission's next regularly scheduled public session on March 25, 2010.

An administrative law judge, appointed by the Commission to oversee the development of a rate plan for Con Edison, provided a broad overview of an unopposed Joint Proposal (Case 09-E-0428) by interested parties that provides for a multi-year electric rate plan with levelized base rate increases, austerity measures, controls on capital expenditures and other provisions, to relieve economic burdens on consumers during these challenging recessionary times.

A separate Joint Proposal in Case 07-E-0523 was also discussed which reconciles differences concerning Con Edison's transmission and distribution capital expenditures during the period 2005-2008. Additionally, the Joint Proposal provides for the withdrawal of the company's petition for rehearing in Case 08-E-0539.

Lastly, Staff provided an overview of the status of three audits concerning Con Edison's emergency outage response (Case 06-M-1078), the company's electric, gas and steam construction program planning processes (Case 08-M-0152), and the investigative audit of improper activities by contractors and employees (Case 09-M-0243). Staff has not yet released the results of Phase One of the investigative audit. The 64 audit recommendations regarding Con Edison's emergency outage response, and the 92 audit recommendations regarding the company's construction program planning processes may be viewed on the Commission's www.dps.state.ny.us website by entering the applicable case number in the input box labeled "Search for Case/Matter Number." Many libraries offer free Internet access. Documents may also be obtained from the Commission's files Office, 14th floor, Three Empire State Plaza, Albany, NY 12223 (518-474-2500).

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