For intangible assets subject to amortization, the estimated aggregate amortization expense for each of the five succeeding fiscal years is as follows: 2009 - $41.1 million, 2010 - $27.3 million, 2011 - $20.9 million, 2012 - $17.0 million, and 2013 - $12.0 million.
Fees and expenses related to the Merger totaled $102.6 million, principally consisting of investment banking fees, legal fees and stock compensation ($39.4 million as further discussed in Note 10), and are reflected in the 2007 results of operations.
Capitalized debt issuance costs as of the Merger date of $87.4 million for Merger-related financing were reflected in other longterm assets in the consolidated balance sheet.
The following represents the unaudited pro forma results of the Company’s consolidated operations as if the Merger had occurred on February 3, 2007 and February 4, 2006, respectively, after giving effect to certain adjustments, including the depreciation and amortization of the assets acquired based on their estimated fair values and changes in interest expense resulting from changes in consolidated debt (in thousands):
## Table 0 ##
The pro forma information does not purport to be indicative of what the Company’s results of operations would have been if the acquisition had in fact occurred at the beginning of the periods presented, and is not intended to be a projection of the Company’s future results of operations.
Subsequent to the announcement of the Merger Agreement, the Company and its directors, along with other parties, were named in seven putative class actions filed in Tennessee state courts alleging claims for breach of fiduciary duty arising out of the proposed Merger, all as described more fully under “Legal Proceedings” in Note 8 below.3.
Strategic initiatives During 2006, the Company began implementing certain strategic initiatives related to its historical inventory management and real estate strategies, as more fully described below.
Inventory management In November 2006, the Company undertook an initiative to discontinue its historical inventory packaway model for virtually all merchandise by the end of fiscal 2007.
Under the packaway model, certain unsold inventory items (primarily seasonal merchandise) were stored on-site and returned to the sales floor until the items were eventually sold, damaged or discarded.
Through end-of-season and other markdowns, this initiative resulted in the elimination of seasonal, home products and basic clothing packaway merchandise to allow for increased levels of newer, current-season merchandise.
In connection with this strategic change, in the third quarter of 2006 the Company recorded a reserve for lower of cost or market inventory
Notes to the Financial Statements — Continued A summary of changes in the status of the Performance RSUs’ EIP portion during the period ended December 31, 2007 is as follows:
## Table 1 ##
The total expense to be recognized by Con Edison in future periods for unvested Performance RSUs outstanding as of December 31, 2007 is $10 million, including $8 million for Con Edison of New York.
Con Edison has a deferred stock compensation plan for non-officer directors.
Awards under the deferred compensation stock plan are covered by the LTIP.
Each director receives 1,500 stock units annually for service as a director.
These stock units are deferred until the director’s termination of service.
Directors may elect to receive dividend equivalents earned on stock units in cash payments.
Restricted stock units issued under the directors’ deferred compensation plan are considered “equity awards,” because they may only be settled in shares.
Directors immediately vest in units issued to them.
The fair value of the units is determined using the closing price of Con Edison’s common stock on the business day immediately preceding the date of issue.
In the period ended December 31, 2007, approximately 22,386 units were issued.
Stock Purchase Plan The Stock Purchase Plan provides for the Companies to contribute $1 for each $9 invested by their directors, officers or employees to purchase Con Edison common stock under the plan.
Eligible participants may invest up to $25,000 during any calendar year (subject to an additional limitation for officers and employees of not more than 20% of their pay).
Dividends paid on shares held under the plan are reinvested in additional shares unless otherwise directed by the participant.
Participants in the plan immediately vest in shares purchased by them under the plan.
The fair value of the shares of Con Edison common stock purchased under the plan was calculated using the average of the high and low composite sale prices at which shares were traded at the New York Stock Exchange on the trading day immediately preceding such purchase dates.
During 2007, 2006 and 2005, 633,647, 624,751 and 590,413 shares were purchased under the Stock Purchase Plan at a weighted average price of $47.70, $45.33 and $45.05 per share, respectively.
Note N – Financial Information by Business Segment The business segments of each of the Companies were determined based on management’s reporting and decisionmaking requirements in accordance with SFAS No.131, “Disclosures About Segments of an Enterprise and Related Information.
” Con Edison’s principal business segments are Con Edison of New York’s regulated electric, gas and steam utility activities, O&R’s regulated electric and gas utility activities and Con Edison’s competitive businesses.
See Note U.  Con Edison of New York’s principal business segments are its regulated electric, gas and steam utility activities.
All revenues of these business segments, excluding revenues earned by Con Edison Development on certain energy infrastructure projects, which are deemed to be immaterial, are from customers located in the United States of America.
Also, all assets of the business segments, excluding certain investments in energy infrastructure projects by Con Edison Development ($245 million at December 31, 2007), are located in the United States of America.
The accounting policies of the segments are the same as those described in Note A.
Common services shared by the business segments are assigned directly or allocated based on various cost factors, depending on the nature of the service provided.
Notes to the Financial Statements — Continued the unbilled revenues for the future benefit of customers by recording a regulatory liability of $133 million for the difference between the unbilled revenues and energy cost liabilities.
Note C – Capitalization Common Stock At December 31, 2013 and 2012, Con Edison owned all of the issued and outstanding shares of common stock of the Utilities and the competitive energy businesses.
CECONY owns 21,976,200 shares of Con Edison stock, which it purchased prior to 2001 in connection with Con Edison’s stock repurchase plan.
CECONY presents in the financial statements the cost of the Con Edison stock it owns as a reduction of common shareholder’s equity.
Capitalization of Con Edison The outstanding capitalization for each of the Companies is shown on its Consolidated Statement of Capitalization, and for Con Edison includes the Utilities’ outstanding debt.
Preferred Stock of CECONY In May 2012, CECONY redeemed all of its outstanding shares of $5 Cumulative Preferred Stock and Cumulative Preferred Stock ($100 par value).
Dividends In accordance with NYSPSC requirements, the dividends that the Utilities generally pay are limited to not more than 100 percent of their respective income available for dividends calculated on a two-year rolling average basis.
Excluded from the calculation of “income available for dividends” are non-cash charges to income resulting from accounting changes or charges to income resulting from significant unanticipated events.
The restriction also does not apply to dividends paid in order to transfer to Con Edison proceeds from major transactions, such as asset sales, or to dividends reducing each utility subsidiary’s equity ratio to a level appropriate to its business risk.
Long-term Debt Long-term debt maturing in the period 2014-2018 is as follows:
## Table 2 ##
The Utilities have issued $494 million of tax-exempt debt through the New York State Energy Research and Development Authority (NYSERDA) that currently bear interest at a rate determined weekly and is subject to tender by bondholders for purchase by the Utilities.
The carrying amounts and fair values of long-term debt are:
## Table 3 ##
Fair values of long-term debt have been estimated primarily using available market information.
For Con Edison, $11,446 million and $636 million of the fair value of long-term debt at December 31, 2013 are classified as Level 2 and Level 3, respectively.
For CECONY, $10,161 million and $636 million of the fair value of long-term debt at December 31, 2013 are classified as Level 2 and Level 3, respectively (see Note P).
The $636 million of long-term debt classified as Level 3 is CECONY’s tax-exempt, auction-rate securities for which the market is highly illiquid and there is a lack of observable inputs.
At December 31, 2013 and 2012, long-term debt of Con Edison included $22 million and $25 million, respectively, of Transition Bonds issued in 2004 by O&R’s New Jersey utility subsidiary through a special purpose entity.
Significant Debt Covenants The significant debt covenants under the financing arrangements for the notes of Con Edison and the debentures of CECONY are obligations to pay principal and interest when due, covenants not to consolidate with or merge into any other corporation unless certain conditions are met and, for Con Edison’s notes, covenants that Con Edison shall continue its utility business in New York City and shall not permit Con Edison’s ratio of consolidated debt to consolidated capital to exceed 0.675 to 1.
Con Edison’s notes are also subject to cross default provisions with respect to other indebtedness of Con Edison or its material subsidiaries having a then outstanding principal balance in excess of $100 million.
CECONY’s debentures have no cross default provisions.
The tax-exempt financing arrangements of the Utilities are subject to covenants for the CECONY debentures discussed above and the covenants discussed below.
The Companies believe that they were in compliance with their significant debt covenants at December 31, 2013.
The tax-exempt financing arrangements involved the issuance of uncollateralized promissory notes of the Utilities to NYSERDA in exchange for the net proceeds of a like amount of tax-exempt bonds with substantially the same terms sold to the public by NYSERDA.
The tax-exempt financing arrangements include covenants with respect to the tax-exempt status of the financing, including covenants with respect to the use of the facilities financed.
Management’s Discussion and Analysis of Financial Condition and Results of Operations – Continued Electric CECONY’s results of electric operations for the year ended December 31, 2013 compared with the year ended December 31, 2012 is as follows:
## Table 4 ##
CECONY’s electric sales and deliveries, excluding off-system sales, in 2013 compared with 2012 were:
## Table 5 ##
(a) “Residential/Religious” generally includes single-family dwellings, individual apartments in multi-family dwellings, religious organizations and certain other not-for-profit organizations.
CECONY’s electric operating revenues decreased $45 million in 2013 compared with 2012 due primarily to lower net revenues from the electric rate plan and other regulatory matters ($128 million, which includes a decrease of $76 million reflecting the use of certain regulatory liabilities in 2012 to offset a temporary surcharge under the electric rate plan), offset by higher purchased power ($36 million) and fuel costs ($15 million).
CECONY’s revenues from electric sales are subject to a revenue decoupling mechanism, as a result of which delivery revenues generally are not affected by changes in delivery volumes from levels assumed when rates were approved.
Other electric operating revenues generally reflect changes in regulatory assets and liabilities in accordance with the revenue decoupling mechanism and other provisions of the company’s rate plans.
See Note B to the financial statements in Item 8.
Electric delivery volumes in CECONY’s service area decreased 0.5 percent in 2013 compared with 2012.
After adjusting for variations, principally weather and billing days, electric delivery volumes in CECONY’s service area decreased 1.3 percent in 2013 compared with 2012.
CECONY’s electric purchased power costs increased $36 million in 2013 compared with 2012 due to an increase in unit costs ($77 million), offset by a decrease in purchased volumes ($41 million).
Electric fuel costs increased $15 million in 2013 compared with 2012 due to higher unit costs ($10 million) and sendout volumes from the company’s electric generating facilities ($5 million).
CECONY’s electric operating income decreased $98 million in 2013 compared with 2012.
The decrease reflects primarily lower net revenues ($96 million, due primarily to the electric rate plan), higher taxes other than income taxes ($56 million, principally property taxes) and higher depreciation and amortization ($39 million), offset in part by lower operations and maintenance costs ($93 million).
Operations and maintenance expenses primarily reflect a decrease in pension costs ($45 million) in the 2013 period as compared to the 2012 period when certain pension costs that were deferred from earlier periods were recognized under the electric rate plan and lower

<table><tr><td>(In thousands)</td><td>Year EndedFebruary 1,2008</td><td>Year endedFebruary 2,2007</td></tr><tr><td>Revenue</td><td>$9,495,246</td><td>$9,169,822</td></tr><tr><td>Net loss</td><td>-57,939</td><td>-156,188 </td></tr></table>
<table><tr><td></td><td colspan="2"> Con Edison</td><td colspan="2"> Con Edison of New York</td></tr><tr><td></td><td>Units</td><td> Weighted Average Price</td><td>Units</td><td> Weighted Average Price</td></tr><tr><td>Non-vested at 12/31/06</td><td>126,425</td><td>$48.070</td><td>94,025</td><td>$48.070</td></tr><tr><td>Granted</td><td>146,880</td><td>48.550</td><td>108,833</td><td>48.735</td></tr><tr><td>Vested and Exercised</td><td>-69,804</td><td>48.256</td><td>-49,304</td><td>48.275</td></tr><tr><td>Forfeited</td><td>-7,521</td><td>-</td><td>-7,521</td><td>-</td></tr><tr><td>Non-vested at 12/31/07</td><td>195,980</td><td>$48.850</td><td>146,033</td><td>$48.850</td></tr></table>
<table><tr><td> (Millions of Dollars)</td><td> Con Edison</td><td> CECONY</td></tr><tr><td>2014</td><td>$485</td><td>$475</td></tr><tr><td>2015</td><td>500</td><td>350</td></tr><tr><td>2016</td><td>736</td><td>650</td></tr><tr><td>2017</td><td>12</td><td>-</td></tr><tr><td>2018</td><td>1,266</td><td>1,200</td></tr></table>
<table><tr><td></td><td colspan="4"> December 31,</td></tr><tr><td> (Millions of Dollars)</td><td colspan="2"> 2013</td><td colspan="2"> 2012</td></tr><tr><td> Long-Term Debt (including current portion)</td><td> Carrying Amount</td><td> Fair Value</td><td> Carrying Amount</td><td> Fair Value</td></tr><tr><td>Con Edison</td><td>$10,974</td><td>$12,082</td><td>$10,768</td><td>$12,935</td></tr><tr><td>CECONY</td><td>$9,841</td><td>$10,797</td><td>$9,845</td><td>$11,751</td></tr></table>
<table><tr><td></td><td colspan="2"> Twelve Months Ended</td><td></td></tr><tr><td> (Millions of Dollars)</td><td> December 31, 2013</td><td> December 31, 2012</td><td>Variation</td></tr><tr><td>Operating revenues</td><td>$8,131</td><td>$8,176</td><td>$-45</td></tr><tr><td>Purchased power</td><td>1,974</td><td>1,938</td><td>36</td></tr><tr><td>Fuel</td><td>174</td><td>159</td><td>15</td></tr><tr><td>Net revenues</td><td>5,983</td><td>6,079</td><td>-96</td></tr><tr><td>Operations and maintenance</td><td>2,180</td><td>2,273</td><td>-93</td></tr><tr><td>Depreciation and amortization</td><td>749</td><td>710</td><td>39</td></tr><tr><td>Taxes, other than income taxes</td><td>1,459</td><td>1,403</td><td>56</td></tr><tr><td> Electric operating income</td><td>$1,595</td><td>$1,693</td><td>$-98</td></tr></table>
<table><tr><td></td><td colspan="4">Millions of kWhs Delivered</td><td colspan="4">Revenues in Millions</td></tr><tr><td></td><td colspan="2"> Twelve Months Ended</td><td colspan="2"></td><td colspan="2"> Twelve Months Ended</td><td colspan="2"></td></tr><tr><td> Description</td><td> December 31, 2013</td><td> December 31, 2012</td><td>Variation</td><td>Percent Variation</td><td> December 31, 2013</td><td> December 31, 2012</td><td>Variation</td><td>Percent Variation</td></tr><tr><td>Residential/Religious(a)</td><td>10,273</td><td>10,718</td><td>-445</td><td>-4.2%</td><td>$2,773</td><td>$2,749</td><td>$24</td><td>0.9%</td></tr><tr><td>Commercial/Industrial</td><td>9,776</td><td>9,848</td><td>-72</td><td>-0.7</td><td>2,013</td><td>1,971</td><td>42</td><td>2.1</td></tr><tr><td>Retail access customers</td><td>26,574</td><td>25,990</td><td>584</td><td>2.2</td><td>2,683</td><td>2,750</td><td>-67</td><td>-2.4</td></tr><tr><td>NYPA, Municipal Agency and other sales</td><td>10,295</td><td>10,645</td><td>-350</td><td>-3.3</td><td>615</td><td>617</td><td>-2</td><td>-0.3</td></tr><tr><td>Other operating revenues</td><td>-</td><td>-</td><td>-</td><td>-</td><td>47</td><td>89</td><td>-42</td><td>-47.2</td></tr><tr><td> Total</td><td> 56,918</td><td> 57,201</td><td>-283</td><td>-0.5%</td><td>$8,131</td><td>$8,176</td><td>$-45</td><td>-0.6%</td></tr></table>

Question: what is the growth rate of revenue from 2007 to 2008?