Thu Jun 2, 2011 4:45pm EDT

(Reuters) – New York City’s power company, Consolidated Edison Inc (ED.N), said Thursday it had enough power to meet forecast record power demand this summer.

The company said in a release it invested $1.1 billion to strengthen its electric system for this year, including $814 million for cables, transformers, and network protectors; $63 million on transmission upgrades; and $212 million on new substation installations and related equipment.

“Our work force prepares continuously through the fall, winter and spring to get our system ready for the summer season,” Craig Ivey, president of Con Edison, said in the release.

The company forecast power usage by its more than three million customers in New York City and Westchester County would reach a record peak of 13,275 megawatts (MW) this summer. The current record peak is 13,141 MW set on Aug. 2, 2006.

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