On It Every Day Con Edison Delivers 6 Con Edison Annual Report 2003 The computers, printers, home enter- tainment systems, air conditioners, refrigerators, hair dryers, and other devices that are so integral to our The large number of commercial build- ing projects throughout our service area vividly illustrates the continuing development of the re gion — and the demand for energy it represents. These include a 48-story office build- Each new project means new opportunities for our customers and new business for Con Edison. ing at 7 Times Square in Manhattan, a 32-story state court building now rising in downtown Brooklyn, and the $350 million, residential-retail White Plains City Center. In Rockland County, construction of a $100 million research and development facility for Avon Products, Inc., is underway. The electronic landscape of our lives continues to change. In our homes and workplaces, at our favorite stores and children’s schools, even in the way we pay our bills and move from place to place — more electronic equipment and devices are being used than at any time in the past. In 2003, for example, the number of high- speed lines connecting homes and businesses to the Internet increased 45 percent nationwide. And in the last three years an estimated 80 million electronic game systems were purchased in the United States. According to many indicators, the economy of our region is turning the corner. Businesses ar e hiring in New York City and the surr ounding area. Residential property values in New York City are more than 20 percent higher than a year ago, and the demand for housing has increased throughout the city as well as in Westchester Orange, Rockland, and Bergen counties. Steady increases in construction, retail, and tourism are helping drive this gr owth. PA Consulting Group recognizes Con Edison’s sustained leadership and achievement in the area of electric reliability. Working in the most challenging urban conditions, the company consis- tently provides its customers with the highest levels of service. quality of life require a reliable supply of energy Such a supply is equally important to meet the needs of new businesses putting down roots in our area, for the new homes and apart- ments that house a steadily increasing population, and for developers plan- ning large-scale r esidential and com- mercial projects. As the Public Service Commission recently noted, “it is indis- putable that Con Edison provides a vital foundation to the economies of the city the state, and the nation.” Every hour of every day, the metropoli- tan New York City area, the world’s most demanding marketplace, relies on the power Con Edison provides. And every hour of every day, it is Con Edison’s job to deliver that power. This is a responsibility we’ve carried out successfully for more than 180 years. Derek HasBrouck, Senior Partner, PA Consulting Group