The city has asked businesses to keep their thermostats set at 78 degrees.
"It's just a smart caution," Mayor Bill de Blasio said, adding that Con Edison is not predicting an overload situation.
Con Ed president Tim Cawley said he is "very confident" the power system is ready to perform.
"We expect demands this weekend to rival all-time weekend peaks," he said. "The system overall peaks on a weekday."
WATCH: Con Edison offers tips, addresses heat wave power concerns
His confidence comes despite last Saturday's power outage that kept a section of Manhattan's West Side in the dark for several hours.
"All of the infrastructure associated with that event, the power carrying infrastructure, is back in service," Cawley said.
When asked what the temperature was at Con Edison's headquarters, Cawley did not miss a beat - 78 degrees.
Cawley said he has been asked by politicians all week about the system's redundancy following last weekend's power outage.
"I feel really great about it," he said. "I feel very good about it."
Approximately 4,000 Con Edison employees are currently on the streets working on and monitoring underground cables, overhead wires, substation equipment and transmission lines.
Cawley said they are ready to jump on any outages as soon as they occur.
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