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infrastructure investment programs while maintaining strong financial performance. 

## Preparing for Tomorrow Today 

We operate our business for the long term. That means we do not — and will not — sacrifice our financial health, or jeopardize the reliable delivery of energy on which our customers so depend, for the sake of short-term gains. 

Over the decades, Con Edison has established a record of financial health and stability, and of reliable service. We have worked hard to earn and retain the trust and respect of customers, shareholders, and all our stakeholders. Today we’re building, maintaining, and improving an energy system that affirms our commitment to the region’s future — and to our customers’ present needs. We are planning for tomorrow today. 

As we do so, I know that we can draw upon deep and significant resources. These include the commitment and skills of our 

employees; the wise counsel  of our board of directors; the constructive relationships we have with regulators, public officials, and community  leaders; and the strong long-term  support of you, our investors. T ogether, we can look forward to  the coming years with confidence. 

Eugene R. McGrath Chairman, President, and Chief Executive Officer 

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