Registration No. 33-48059


                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                               --------------------

                         POST-EFFECTIVE AMENDMENT NO. 1
                                       TO
                                    FORM S-3
                             REGISTRATION STATEMENT
                                      UNDER
                           THE SECURITIES ACT OF 1933
                               --------------------
                  Consolidated Edison Company of New York, Inc.
              (Exact name of Registrant as specified in its charter)

                    New York                              13-5009340
          (State of incorporation)           (I.R.S.Employer Identification No.)

                                 4 Irving Place
                            New York, New York 10003
                                 (212) 460-4600
            (Address,  including zip code,  and telephone  number,  including
               area code, of Registrant's principal executive offices)
                              --------------------

            JOAN S. FREILICH,          or            PETER A. IRWIN, ESQ.
      Senior Vice President and                   Associate General Counsel
          Chief Financial Officer

                                 4 Irving Place
                            New York, New York 10003
                                 (212) 460-4600
                 (Name, address, including zip code, and telephone number,
                        including area code, of agent for service)








     Pursuant to  Registrant's  undertaking  in paragraph  (a)(3) of Item 17 of
this Registration Statement  (No.  33-48059),  Registrant  hereby  amends this
Registration  Statement  to  remove  from   registration   450,000   shares  of
Registrant's  Common Stock ($2.50 par value) that were  registered  pursuant to
this Registration Statement but which remained unsold at the termination of the
offering.


                                   SIGNATURES

      Pursuant to the  requirements  of the Securities  Act of 1933,  Registrant
certifies  that it has  reasonable  grounds  to  believe  that it meets  all the
requirements  for  filing on Form S-3 and has duly  caused  this  Post-Effective
Amendment  to  Registration  Statement  to  be  signed  on  its  behalf  by  the
undersigned, thereunto duly authorized, in the City of New York and State of New
York on the 31st day of December, 1997.

                                 CONSOLIDATED EDISON COMPANY OF NEW YORK, INC.

                                  By: HYMAN SCHOENBLUM
                                      HYMAN SCHOENBLUM
                                      Acting Senior Vice President and
                                          Chief Financial Officer