Gas

Con Edison Development breaks ground for new power plant

NEWINGTON, N.H., Sept. 14, 2000 — Newington Energy LLC, an affiliate of Consolidated Edison Development Inc. (CED), recently held a groundbreaking ceremony for its 525 MW natural-gas fired power plant in Newington, New Hampshire.

The Newington plant will use state-of-the-art combustion turbines and heat recovery steam generators with a steam turbine for greater efficiency and significantly lower emissions than traditional plants. Upon its completion in

the year 2002, the 40,000 square foot facility will generate enough low-cost power to supply electricity to more than 700,000 New England homes.

“The people at Con Edison Development are pleased to have the opportunity to serve the people of New Hampshire and New England with the Newington facility,” said Stephen Bram, CED chairman. “This new plant will provide power to thousands of homes in the region in an environmentally sound operation. The Newington plant will help satisfy growing energy needs, bolster the local tax base, and contribute to a competitive energy environment in New Hampshire.”

“We were able to break ground for Newington Energy today because state, local and private-sector partners all came together and worked hard to make it happen, recognizing its benefits to the constituents we all serve.”

Headquartered in New York City, CED is a wholly owned subsidiary of Consolidated Edison Inc. and acquires, develops, owns and operates electric generation assets in the Northeast.