News Release
May 17, 2001

MARITIMES TO SERVE NEWINGTON, N.H., POWER FACILITY

BOSTON – Maritimes & Northeast Pipeline, L.L.C. (Maritimes) has reached an agreement with Newington Energy, LLC, an affiliate of Consolidated Edison Development Inc., to provide natural gas transportation service to the 525-megawatt power plant currently under construction in Newington, N.H.

Newington Energy broke ground on the natural gas-fired facility in September. Maritimes plans to construct and operate natural gas transmission facilities, including interconnecting piping and metering, from the existing lateral pipeline on Newington Energy’s property to the plant.

"Newington Energy will increase the region's generating capacity in a clean and efficient manner. Maritimes looks forward to delivering the natural gas that will fuel this plant and to helping provide much needed energy to the New England market," said Tom O'Connor, president of M&N Management Co., managing member of Maritimes.

When Newington Energy is completed in 2002, the plant will generate enough power to supply electricity to more than 700,000 homes in New England.

"With natural gas from the Maritimes pipeline, we will be able to produce cleaner, low-cost electricity for the people of New Hampshire and New England," said Michael Madia, vice president of Newington Energy. "Our Newington plant will serve thousands of homes and businesses while contributing to the local economy and the regional energy environment."

Newington Energy, LLC is majority-owned and being developed by Consolidated Edison Development Inc., a wholly owned subsidiary of Consolidated Edison, Inc. [NYSE:ED], one of the nation's largest investor-owned energy companies, with approximately $10 billion in annual revenues and $16 billion in assets. The company provides a wide range of energy-related products and services to its customers through two regulated utility subsidiaries and four competitive energy and telecommunications businesses. For additional financial, operations and customer service information, visit the Consolidated Edison web site at www.conedision.com.

Maritimes and its Canadian affiliate transport natural gas from the Sable project located off the coast of Nova Scotia, Canada, to energy markets in the Canadian Maritimes Provinces and the northeastern United States.

Maritimes is owned by affiliates of Duke Energy (37.5 percent); Westcoast Energy Inc. (37.5 percent); ExxonMobil (12.5 percent); and Emera, Inc. (12.5 percent). For more information, contact Maritimes on the Internet at www.mnp-usa.com.

Contact: Marylee Hanley
Phone: 617/560-1573
24 Hour Phone: 704/382-8333
Email: mhanley@duke-energy.com