Supporting Ethical Business Practices

Con Edison takes pride in its role as a corporate citizen in our communities. Our employees are committed to providing excellent service while adhering to local, state and federal environmental, health and safety laws, protecting our workforce, the public, and the environment.

Our corporate Code of Conduct is based on our corporate values: service, honesty, concern, courtesy, excellence and teamwork. We have developed six principles for managing our work and maintaining our corporate values. Known as "The Way We Work" these principles include:

Plan the Work and Work the Plan – We plan all activities, track progress, monitor results, and implement lessons learned. Continuous improvement is the goal, helping us maintain high standards for productivity, quality, environmental protection, and safety.

Seek and Accept Responsibility – Our personnel are not afraid to take initiative, to suggest and implement improvements. Our corporate culture empowers us to admit and learn from mistakes, focusing on solving problems rather than laying blame.

Communicate Openly – Our culture is open. We have regular meetings with management and union staff. We share information among our operating areas and with our shareholders and customers freely.

Work in Teams – The company fosters teamwork by respecting the skills, knowledge, and experience of all our employees. We value a strong management-union relationship. We encourage diversity.

Improve Continuously – We strive to increase our efficiency and effectiveness every day. Employees are free to ask questions, to look for ways to improve our work. Just as we maintain and upgrade our hard assets, we offer training to our workforce over the entire length of their careers to ensure that our employees have the knowledge and experience to do their jobs.

Celebrate Success – We believe that success breeds success. We provide quick and positive feedback to all employees, recognizing individual milestones and achievements.

Strong business ethics is a core value of Con Edison. At Con Edison of New York, there are regular messages sent by e-mail to all employees as part of an ongoing "Ethical Quest" series. Each of these communications highlights some different ethical questions about business conduct or relationships with co-workers. Employees are encouraged to review the scenarios, answer questions about the situations described to strengthen understanding of the issue, and discuss the subjects with colleagues.

Recently, all management employees were required to complete an on-line training course in business ethics. Company departments are responsible for conducting ethics training for weekly personnel. Adhering to our Code of Conduct is a condition of employment for all of our employees. We do not tolerate violations of law or corporate policy. We encourage our employees to discuss any and all issues with their supervisors, and provide several ways for employees to confidentially report serious concerns.

In 2008, Con Edison was named in Audit Integrity's Top 100 report, which recognizes companies that show superior corporate integrity. The Top 100 report only includes firms that have consistently high Accounting and Governance Risk ratings based on accounting practices and solid management teams.

The Audit Integrity Top 100 is reserved for companies demonstrating a sound financial footing and exemplary conservative governance. Con Edison maintains all company books and records in complete transparency. The company also ensures that all records accurately, completely, and appropriately reflect transactions and events.