292872896
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292882996
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<div>
<p style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">The accrued liabilities and
regulatory assets related to Superfund Sites at September 30,
2012 and December 31, 2011 were as follows:</font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 9px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr>
<td width="44%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td valign="bottom" width="3%"></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
<td valign="bottom" width="3%"></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
<td valign="bottom" width="3%"></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
 <font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Con Edison</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>CECONY</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"><b><i>(Millions of
Dollars)</i></b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2012</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2011</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-RIGHT: #000000 1px dotted" valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2012</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2011</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Accrued Liabilities:</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td style="BORDER-RIGHT: #000000 1px dotted" valign="bottom">
<font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Manufactured gas plant
sites</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$466</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$422</font></td>
<td style="BORDER-RIGHT: #000000 1px dotted" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$352</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$307</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Other Superfund Sites</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">71</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">67</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-RIGHT: #000000 1px dotted" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">71</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">66</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Total</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$537</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$489</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-RIGHT: #000000 1px dotted" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$423</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$373</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Regulatory assets</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$722</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$681</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-RIGHT: #000000 1px dotted" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$607</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$564</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
</table>
</div>
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Q3
2012
10-Q
2012-09-30
0001047862
--12-31
ED
CONSOLIDATED EDISON INC
false
Large Accelerated Filer
<div>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: ARIAL" color="#8C8272" size="2"><b>Note E —
Pension Benefits</b></font></p>
<p style="MARGIN-TOP: 2px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: ARIAL" size="2"><b>Net Periodic Benefit
Cost</b></font></p>
<p style="MARGIN-TOP: 2px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">The components of the
Companies’ net periodic benefit costs for the three and nine
months ended September 30, 2012 and 2011 were as
follows:</font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 9px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr>
<td width="72%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
 <font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="14" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>For the Three Months Ended September 30,</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
 <font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Con Edison</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-RIGHT: #8c8272 1px dotted" valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>CECONY</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"><b><i>(Millions of
Dollars)</i></b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2012</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2011</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-LEFT: #8c8272 1px dotted" valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2012</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2011</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Service cost – including
administrative expenses</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   59</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   48</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-LEFT: #8c8272 1px dotted" valign="bottom">
<font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   55</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   45</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Interest cost on projected benefit
obligation</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">137</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">140</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-LEFT: #8c8272 1px dotted" valign="bottom">
<font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">128</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">131</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Expected return on plan
assets</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(176</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(184</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-LEFT: #8c8272 1px dotted" valign="bottom">
<font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(168</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(174</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Amortization of net actuarial
loss</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">177</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">133</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-LEFT: #8c8272 1px dotted" valign="bottom">
<font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">168</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">126</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Amortization of prior service
costs</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">2</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">2</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-LEFT: #8c8272 1px dotted" valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">2</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">NET PERIODIC BENEFIT COST</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 199</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 139</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-LEFT: #8c8272 1px dotted" valign="bottom">
<font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 185</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 128</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Cost capitalized</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(64</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(45</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-LEFT: #8c8272 1px dotted" valign="bottom">
<font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(60</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(42</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Reconciliation to rate
level</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(11</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-LEFT: #8c8272 1px dotted" valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(1</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(11</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Cost charged to operating
expenses</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 135</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   83</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-LEFT: #8c8272 1px dotted" valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 124</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   75</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
</table>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 9px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr>
<td width="72%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
 <font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="14" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>For the Nine Months Ended September 30,</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
 <font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Con Edison</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-RIGHT: #8c8272 1px dotted" valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>CECONY</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"><b><i>(Millions of
Dollars)</i></b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2012</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2011</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-LEFT: #8c8272 1px dotted" valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2012</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2011</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Service cost – including
administrative expenses</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 177</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 142</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-LEFT: #8c8272 1px dotted" valign="bottom">
<font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 165</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 133</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Interest cost on projected benefit
obligation</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">410</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">420</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-LEFT: #8c8272 1px dotted" valign="bottom">
<font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">385</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">393</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Expected return on plan
assets</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(528</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(550</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-LEFT: #8c8272 1px dotted" valign="bottom">
<font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(503</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(524</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Amortization of net actuarial
loss</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">531</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">397</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-LEFT: #8c8272 1px dotted" valign="bottom">
<font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">503</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">376</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Amortization of prior service
costs</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">6</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">6</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-LEFT: #8c8272 1px dotted" valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">4</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">4</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">NET PERIODIC BENEFIT COST</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 596</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 415</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-LEFT: #8c8272 1px dotted" valign="bottom">
<font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 554</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 382</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Amortization of regulatory
asset</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">1</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">1</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-LEFT: #8c8272 1px dotted" valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">1</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">1</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">TOTAL PERIODIC BENEFIT
COST</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 597</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 416</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-LEFT: #8c8272 1px dotted" valign="bottom">
<font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 555</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 383</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Cost capitalized</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(200</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(141</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-LEFT: #8c8272 1px dotted" valign="bottom">
<font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(186</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(131</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Reconciliation to rate
level</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(37</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(68</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-LEFT: #8c8272 1px dotted" valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(36</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(70</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Cost charged to operating
expenses</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 360</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 207</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-LEFT: #8c8272 1px dotted" valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 333</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 182</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
</table>
<p style="MARGIN-TOP: 11px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: ARIAL" size="2"><b>Expected
Contributions</b></font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 2px">
 </p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">The Companies made
contributions to the pension plan during 2012 of $775 million (of
which $721 million was contributed by CECONY). The Companies’
policy is to fund their pension plan’s accounting cost to the
extent tax deductible. During the first nine months of 2012, CECONY
also funded $12 million for the non-qualified supplemental
plan.</font></p>
</div>
709000000
16000000
11000000
304000000
713000000
-1867000000
4000000
-46000000
-8000000
<div>
<p style="MARGIN-TOP: 15px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">A summary, by type and
term, of Con Edison’s total guarantees at September 30,
2012 is as follows:</font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 9px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr>
<td width="35%"></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"><b>Guarantee
Type</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>0 – 3 years</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>4 – 10 years</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>> 10 years</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Total</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom" colspan="14" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b><i>(Millions of
Dollars)</i></b></font></td>
<td valign="bottom"><font size="1"> </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Energy transactions</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$696</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$66</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$764</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Intra-company guarantees</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">15</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">1</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">16</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Other guarantees</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">38</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">5</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">43</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">TOTAL</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$749</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$7</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$67</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$823</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
</table>
</div>
<div>
<p style="margin-top: 9px; margin-bottom: 0px;"><font style="font-family: ARIAL;" size="2" color="#8c8272"><b>Note L — Hurricane Sandy</b></font></p>
<p style="margin-top: 2px; margin-bottom: 0px;"><font style="font-family: Times New Roman;" size="2">In late October 2012, Hurricane Sandy caused extensive damage to the Utilities’ electric distribution system and interrupted service to approximately 950,000 CECONY customers and approximately 250,000 O&R customers. Hurricane Sandy also damaged CECONY’s steam system and interrupted service to many of its steam customers. To restore service to their customers and repair their energy systems, the Utilities are incurring substantial operating costs and making substantial capital expenditures, the amount of which the Utilities are unable to estimate at this time. The Utilities' rate plans provide for operating costs and capital expenditures under different provisions. The Utilities expect that most of their operating expenses attributable to Hurricane Sandy will be deferred for recovery as a regulatory asset under their electric rate plans. The Utilities’ capital expenditures, up to specified levels, are reflected in rates under their rate plans. In addition, CECONY's rate plans, provide that it may request in its next base rate filings to recover additional capital expenditures (provided the company can justify the need for and reasonableness of, and its inability to reasonably avoid, such additional capital expenditures). Under its New York electric rate plan and subject to certain limitations, O&R defers as a regulatory asset the revenue requirement impact of the amount by which actual average net utility plant is different than the average net utility plant reflected in rates. Under the New York rate plans, the Utilities also may petition the NYSPSC for authorization to defer extraordinary expenditures not otherwise addressed in their rate plans. The Utilities’ New York electric rate plans include provisions for revenue decoupling, as a result of which delivery revenues generally are not affected by changes in delivery volumes from levels assumed when rates were approved. The provisions of the Utilities' New York electric plans that impose penalties for operating performance provide for exceptions for major storms and catastrophic events beyond the control of the companies, including natural disasters such as hurricanes and floods. The Utilities expect the NYSPSC to investigate the preparation and performance of New York utilities in connection with Hurricane Sandy.</font></p>
</div>
2440000000
292900000
3000000
14000000
213000000
<div>
<p style="MARGIN-TOP: 2px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">The financial data for the
business segments are as follows:</font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 9px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr>
<td width="53%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="1%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="1%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="1%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="1%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="1%"></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
 <font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="30" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>For the Three Months Ended
September 30,</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
 <font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="6" align="center">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align="center">
<font style="FONT-FAMILY: ARIAL" size="1"><b>Operating</b></font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 1px" align="center">
<font style="FONT-FAMILY: ARIAL" size="1"><b>revenues</b></font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="6" nowrap="nowrap" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Inter-segment<br />
revenues</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Depreciation and<br />
amortization</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="6" align="center">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align="center">
<font style="FONT-FAMILY: ARIAL" size="1"><b>Operating</b></font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 1px" align="center">
<font style="FONT-FAMILY: ARIAL" size="1"><b>income</b></font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"><b><i>(Millions of
Dollars)</i></b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2012</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2011</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2012</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2011</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2012</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2011</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2012</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2011</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">CECONY</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Electric</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$2,611</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$2,644</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$    4</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$    3</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$179</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$166</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$812</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$758</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Gas</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">189</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">197</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">1</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">1</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">31</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">28</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(21</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(23</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Steam</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">68</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">76</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">20</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">20</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">15</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">15</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(37</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(33</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Consolidation adjustments</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(25</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(24</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Total CECONY</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$2,868</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$2,917</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  —</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  —</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$225</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$209</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$754</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$702</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">O&R</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Electric</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   199</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   217</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  —</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  —</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  10</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$    9</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  50</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  44</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Gas</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">27</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">24</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">3</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">3</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(6</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(6</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Total O&R</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   226</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   241</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  —</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  —</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  13</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  12</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  44</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  38</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Competitive energy
businesses</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   344</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   472</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$    2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$    3</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$    2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$    1</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  53</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  16</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Other*</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(1</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(2</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(3</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Total Con Edison</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$3,438</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$3,629</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  —</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  —</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$240</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$222</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$851</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$756</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
</table>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 6px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td valign="top" width="1%" align="left"><font style="FONT-FAMILY: ARIAL" size="1">*</font></td>
<td valign="top" align="left"><font style="FONT-FAMILY: ARIAL" size="1">Parent company expenses, primarily interest, and
consolidation adjustments. Other does not represent a business
segment.</font></td>
</tr>
</table>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 9px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr>
<td width="42%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="1%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="1%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="1%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="1%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="1%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="1%"></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
 <font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="30" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>For the Nine Months Ended September 30,</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
 <font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="6" align="center">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align="center">
<font style="FONT-FAMILY: ARIAL" size="1"><b>Operating</b></font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 1px" align="center">
<font style="FONT-FAMILY: ARIAL" size="1"><b>revenues</b></font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="6" nowrap="nowrap" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Inter-segment<br />
revenues</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="6" nowrap="nowrap" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Depreciation and<br />
amortization</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="6" align="center">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align="center">
<font style="FONT-FAMILY: ARIAL" size="1"><b>Operating</b></font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 1px" align="center">
<font style="FONT-FAMILY: ARIAL" size="1"><b>income</b></font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"><b><i>(Millions of
Dollars)</i></b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2012</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2011</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2012</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2011</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2012</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2011</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2012</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2011</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">CECONY</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Electric</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$6,307</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$6,378</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  11</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$    9</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$527</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$489</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$1,383</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$1,326</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Gas</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">1,017</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">1,156</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">4</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">4</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">89</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">82</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">255</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">212</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Steam</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">414</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">508</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">58</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">59</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">48</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">47</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">40</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">81</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Consolidation adjustments</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(73</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(72</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Total CECONY</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$7,738</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$8,042</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  —</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  —</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$664</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$618</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$1,678</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$1,619</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">O&R</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Electric</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   457</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   507</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  —</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  —</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  28</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  26</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$     74</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$     69</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Gas</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">144</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">153</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">11</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">10</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">26</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">22</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Total O&R</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   601</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   660</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  —</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  —</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  39</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  36</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   100</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$     91</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Competitive energy
businesses</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   954</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$1,286</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$    6</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$    9</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$    6</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$    5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   111</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$     75</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Other*</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(6</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(16</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(6</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(9</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(3</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(4</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Total Con Edison</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$9,287</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$9,972</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  —</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  —</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$709</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$659</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$1,886</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$1,781</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
</table>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 6px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td valign="top" width="1%" align="left"><font style="FONT-FAMILY: ARIAL" size="1">*</font></td>
<td valign="top" align="left"><font style="FONT-FAMILY: ARIAL" size="1">Parent company expenses, primarily interest, and
consolidation adjustments. Other does not represent a business
segment.</font></td>
</tr>
</table>
</div>
-80000000
196000000
821000000
1435000000
455000000
32000000
<div>
<p style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">The managers of the risk
management groups report to the Companies’ Vice President and
Treasurer.</font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 9px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr>
<td width="24%"></td>
<td valign="bottom" width="3%"></td>
<td></td>
<td></td>
<td></td>
<td valign="bottom" width="3%"></td>
<td width="16%"></td>
<td valign="bottom" width="3%"></td>
<td width="34%"></td>
<td valign="bottom" width="3%"></td>
<td></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
 <font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align="center">
<font style="FONT-FAMILY: ARIAL" size="1"><b>Fair Value of</b></font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align="center">
<font style="FONT-FAMILY: ARIAL" size="1"><b>Level 3 at<br />
September 30,<br />
2012</b></font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 1px" align="center">
<font style="FONT-FAMILY: ARIAL" size="1"><b><i>(Millions of Dollars)</i></b></font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="center">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align="center">
<font style="FONT-FAMILY: ARIAL" size="1"><b>Valuation</b></font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 1px" align="center">
<font style="FONT-FAMILY: ARIAL" size="1"><b>Techniques</b></font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Unobservable
Inputs</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Range</b></font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1"><b>Con
Edison—Commodity</b></font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Electricity Swaps</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="top"><font style="FONT-FAMILY: ARIAL" size="1">$</font></td>
<td valign="top" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(9</font></td>
<td valign="top" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="top"><font style="FONT-FAMILY: ARIAL" size="1">Discounted Cash Flow</font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="top"><font style="FONT-FAMILY: ARIAL" size="1">Forward
prices <sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">(1)</sup></font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="top"><font style="FONT-FAMILY: ARIAL" size="1">$22-$64
per<br />
MWH</font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Electricity Wholesale
Contract</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="top"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="top" align="right"><font style="FONT-FAMILY: ARIAL" size="1">4</font></td>
<td valign="top" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="top"><font style="FONT-FAMILY: ARIAL" size="1">Discounted Cash Flow</font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="top">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: ARIAL" size="1">Auction prices <sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">(2)</sup></font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 1px"><font style="FONT-FAMILY: ARIAL" size="1">New Jersey solar renewable energy
credit<br />
(SREC) <sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">(2)</sup></font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="top"><font style="FONT-FAMILY: ARIAL" size="1">$29-$52
per<br />
MWH</font><br />
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 1px"><font style="FONT-FAMILY: ARIAL" size="1">$85 per SREC</font></p>
</td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Standard Offer Capacity
Agreements</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="top"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="top" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(12</font></td>
<td valign="top" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="top"><font style="FONT-FAMILY: ARIAL" size="1">Discounted Cash Flow</font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="top">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: ARIAL" size="1">Forward capacity
prices <sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">(1)</sup></font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: ARIAL" size="1">Forward price
escalator <sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">(1)</sup></font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 1px"><font style="FONT-FAMILY: ARIAL" size="1">Present value factor <sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">(1)</sup></font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="top" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">$166 MW per day</font><br />
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: ARIAL" size="1">0%-3%</font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 1px"><font style="FONT-FAMILY: ARIAL" size="1">1.66%</font></p>
</td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Transmission Congestion Contracts /
Financial Transmission Rights</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top" align="right"><font style="FONT-FAMILY: ARIAL" size="1">14</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<font style="FONT-FAMILY: ARIAL" size="1">Discounted Cash
Flow</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: ARIAL" size="1">Discount to adjust auction prices for
inter-zonal forward price curves <sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">(2)</sup></font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 1px"><font style="FONT-FAMILY: ARIAL" size="1">Discount to adjust auction prices for
historical monthly realized settlements <sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">(2)</sup><br />
Historical line loss factor <sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">(1)</sup></font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1">17.5%-38%</font><br />
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: ARIAL" size="1">(3)%-26.5%</font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 1px"><font style="FONT-FAMILY: ARIAL" size="1">8%</font></p>
</td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Total Con
Edison—Commodity</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<font style="FONT-FAMILY: ARIAL" size="1">$</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(3</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<font size="1"> </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1"><b>CECONY—Commodity</b></font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="top"></td>
<td valign="top"></td>
<td valign="top"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="top"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="top"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="top"></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Transmission Congestion
Contracts</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<font style="FONT-FAMILY: ARIAL" size="1">$</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top" align="right"><font style="FONT-FAMILY: ARIAL" size="1">12</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<font style="FONT-FAMILY: ARIAL" size="1">Discounted Cash
Flow</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: ARIAL" size="1">Discount to adjust auction prices for
inter-zonal forward price curves <sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">(2)</sup></font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 1px"><font style="FONT-FAMILY: ARIAL" size="1">Discount to adjust auction prices for
historical monthly realized settlements <sup style="POSITION: relative; BOTTOM: 0.8ex; VERTICAL-ALIGN: baseline">(2)</sup></font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: ARIAL" size="1">17.5%-38%</font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 1px"><font style="FONT-FAMILY: ARIAL" size="1">(3)%- 26.5%</font></p>
</td>
</tr>
</table>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 6px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td valign="top" width="3%" align="left"><font style="FONT-FAMILY: ARIAL" size="1">(1)</font></td>
<td valign="top" align="left"><font style="FONT-FAMILY: ARIAL" size="1">Generally, increases/(decreases) in this input in
isolation would result in a higher/(lower) fair value
measurement.</font></td>
</tr>
</table>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td valign="top" width="3%" align="left"><font style="FONT-FAMILY: ARIAL" size="1">(2)</font></td>
<td valign="top" align="left"><font style="FONT-FAMILY: ARIAL" size="1">Generally, increases/(decreases) in this input in
isolation would result in a lower/(higher) fair value
measurement.</font></td>
</tr>
</table>
</div>
<div>
<p style="MARGIN-TOP: 9px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px">
<font style="FONT-FAMILY: Times New Roman" size="2">The following
table presents the number of contracts by commodity
type:</font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 9px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr>
<td width="22%"></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td valign="bottom" width="3%"></td>
<td valign="bottom" width="3%"></td>
<td></td>
<td></td>
<td valign="bottom" width="3%"></td>
<td valign="bottom" width="3%"></td>
<td></td>
<td></td>
<td valign="bottom" width="3%"></td>
<td valign="bottom" width="3%"></td>
<td></td>
<td></td>
<td valign="bottom" width="3%"></td>
<td valign="bottom" width="3%"></td>
<td></td>
<td></td>
<td valign="bottom" width="3%"></td>
<td valign="bottom" width="3%"></td>
<td></td>
<td></td>
<td valign="bottom" width="3%"></td>
<td valign="bottom" width="3%"></td>
<td></td>
<td></td>
<td valign="bottom" width="3%"></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
 <font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Electric Derivatives</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2"> <font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="10" align="center">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 1px" align="center">
<font style="FONT-FAMILY: ARIAL" size="1"><b>Gas
Derivatives</b></font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
 <font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Number of<br />
Energy<br />
Contracts (a)</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>MWHs (b)</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Number of<br />
Capacity<br />
Contracts (a)</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>MW-Months (b)</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Number of<br />
Contracts (a)</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>dths (b)</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Total<br />
Number of<br />
Contracts (a)</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Con Edison</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">576</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">12,807,613</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">78</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">10,019</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">635</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">86,541,700</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">1,289</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">CECONY</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">113</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">3,271,000</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">515</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">81,080,000</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">628</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
</table>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 6px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td valign="top" width="3%" align="left"><font style="FONT-FAMILY: ARIAL" size="1">(a)</font></td>
<td valign="top" align="left"><font style="FONT-FAMILY: ARIAL" size="1">Qualifying derivative contracts, which have been
designated as normal purchases or normal sales contracts, are not
reported at fair value under the accounting rules for derivatives
and hedging and, therefore, are excluded from the
table.</font></td>
</tr>
</table>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td valign="top" width="3%" align="left"><font style="FONT-FAMILY: ARIAL" size="1">(b)</font></td>
<td valign="top" align="left"><font style="FONT-FAMILY: ARIAL" size="1">Volumes are reported net of long and short
positions.</font></td>
</tr>
</table>
</div>
379000000
61000000
709000000
3000000
-579000000
1700000
288000000
<div>
<p style="MARGIN-TOP: 11px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: ARIAL" color="#8C8272" size="2"><b>Note F —
Other Postretirement Benefits</b></font></p>
<p style="MARGIN-TOP: 2px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: ARIAL" size="2"><b>Net Periodic Benefit
Cost</b></font></p>
<p style="MARGIN-TOP: 2px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">The components of the
Companies’ net periodic postretirement benefit costs for the
three and nine months ended September 30, 2012 and 2011 were
as follows:</font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 9px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr>
<td width="72%"></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
 <font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="14" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>For the Three Months Ended September 30,</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
 <font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Con Edison</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-RIGHT: #000000 1px dotted" valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>CECONY</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"><b><i>(Millions of
Dollars)</i></b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2012</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2011</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-RIGHT: #8c8272 1px dotted" valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-LEFT: #8c8272 1px dotted" valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2012</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2011</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Service cost</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   6</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-LEFT: #8c8272 1px dotted" valign="bottom">
<font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Interest cost on accumulated other
postretirement benefit obligation</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">18</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">20</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-LEFT: #8c8272 1px dotted" valign="bottom">
<font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">16</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">18</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Expected return on plan
assets</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(21</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(22</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-LEFT: #8c8272 1px dotted" valign="bottom">
<font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(19</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(21</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Amortization of net actuarial
loss</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">24</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">22</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-LEFT: #8c8272 1px dotted" valign="bottom">
<font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">22</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">20</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Amortization of prior service
cost</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(3</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-LEFT: #8c8272 1px dotted" valign="bottom">
<font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(4</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(3</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Amortization of transition
obligation</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">1</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-LEFT: #8c8272 1px dotted" valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">1</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">NET PERIODIC POSTRETIREMENT BENEFIT
COST</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 22</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 25</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-LEFT: #8c8272 1px dotted" valign="bottom">
<font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 20</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 20</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Cost capitalized</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(9</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-LEFT: #8c8272 1px dotted" valign="bottom">
<font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Reconciliation to rate
level</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">3</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">3</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-LEFT: #8c8272 1px dotted" valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">3</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">3</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Cost charged to operating
expenses</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 17</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 19</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-LEFT: #8c8272 1px dotted" valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 16</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 16</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
</table>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 9px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr>
<td width="72%"></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
 <font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="14" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>For the Nine Months Ended September 30,</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
 <font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Con Edison</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-RIGHT: #8c8272 1px dotted" valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>CECONY</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"><b><i>(Millions of
Dollars)</i></b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2012</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2011</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-LEFT: #8c8272 1px dotted" valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2012</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2011</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Service cost</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 20</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 19</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-LEFT: #8c8272 1px dotted" valign="bottom">
<font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 15</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 15</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Interest cost on accumulated other
postretirement benefit obligation</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">55</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">62</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-LEFT: #8c8272 1px dotted" valign="bottom">
<font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">48</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">54</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Expected return on plan
assets</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(64</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(66</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-LEFT: #8c8272 1px dotted" valign="bottom">
<font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(56</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(59</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Amortization of net actuarial
loss</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">73</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">66</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-LEFT: #8c8272 1px dotted" valign="bottom">
<font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">65</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">60</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Amortization of prior service
cost</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(16</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-LEFT: #8c8272 1px dotted" valign="bottom">
<font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(13</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(9</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Amortization of transition
obligation</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">1</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">3</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-LEFT: #8c8272 1px dotted" valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">1</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">3</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">NET PERIODIC POSTRETIREMENT BENEFIT
COST</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 69</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 77</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-LEFT: #8c8272 1px dotted" valign="bottom">
<font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 60</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 64</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Cost capitalized</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(24</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(27</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-LEFT: #8c8272 1px dotted" valign="bottom">
<font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(20</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(22</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Reconciliation to rate
level</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">15</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">12</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-LEFT: #8c8272 1px dotted" valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">12</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">10</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Cost charged to operating
expenses</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 60</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 62</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-LEFT: #8c8272 1px dotted" valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 52</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 52</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
</table>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 11px">
 </p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: ARIAL" size="2"><b>Expected
Contributions</b></font></p>
<p style="MARGIN-TOP: 2px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">Con Edison expects to make
a contribution of $83 million, including $71 million for CECONY, to
the other postretirement benefit plans in 2012. During the first
nine months of 2012, Con Edison contributed $34 million to the
other postretirement benefit plans (of which $28 million was
contributed by CECONY).</font></p>
</div>
950000000
<div>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: ARIAL" color="#8C8272" size="2"><b>Note J —
Derivative Instruments and Hedging Activities</b></font></p>
<p style="MARGIN-TOP: 2px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">Under the accounting rules
for derivatives and hedging, derivatives are recognized on the
balance sheet at fair value, unless an exception is available under
the accounting rules. Certain qualifying derivative contracts have
been designated as normal purchases or normal sales contracts.
These contracts are not reported at fair value under the accounting
rules.</font></p>
<p style="MARGIN-TOP: 11px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: ARIAL" size="2"><b>Energy Price
Hedging</b></font></p>
<p style="MARGIN-TOP: 2px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">Con Edison’s
subsidiaries hedge market price fluctuations associated with
physical purchases and sales of electricity, natural gas, and steam
by using derivative instruments, including futures, forwards, basis
swaps, options, transmission congestion contracts and financial
transmission rights contracts. The fair values of the
Companies’ commodity derivatives at September 30, 2012
and December 31, 2011 were as follows:</font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 9px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr>
<td width="42%"></td>
<td valign="bottom" width="3%"></td>
<td></td>
<td></td>
<td valign="bottom" width="3%"></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
 <font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Con Edison</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>CECONY</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"><b><i>(Millions of
Dollars)</i></b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2012</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2011</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-RIGHT: #000000 1px dotted" valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2012</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2011</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Fair value of net derivative
assets/(liabilities) – gross</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$(92</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$(249</font></td>
<td style="BORDER-RIGHT: #000000 1px dotted" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$(48</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$(144</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Impact of netting of cash
collateral</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">59</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">110</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-RIGHT: #000000 1px dotted" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">33</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">46</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Fair value of net derivative
assets/(liabilities) – net</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$(33</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$(139</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-RIGHT: #000000 1px dotted" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$(15</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  (98</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
</tr>
</table>
<p style="MARGIN-TOP: 11px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: ARIAL" size="2"><b>Credit Exposure</b></font></p>
<p style="MARGIN-TOP: 2px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">The Companies are exposed
to credit risk related to transactions entered into primarily for
the various energy supply and hedging activities by the Utilities
and the competitive energy businesses. The Companies use credit
policies to manage this risk, including an established credit
approval process, monitoring of counterparty limits, netting
provisions within agreements, collateral or prepayment
arrangements, credit insurance and credit default swaps.</font></p>
<p style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">At September 30, 2012,
Con Edison and CECONY had $118 million and $13 million of credit
exposure in connection with energy supply and hedging activities,
net of collateral, respectively. Con Edison’s net credit
exposure consisted of $44 million with investment-grade
counterparties, $25 million with commodity exchange brokers, $47
million with independent system operators and $2 million with
non-rated counterparties. CECONY’s net credit exposure
consisted of $3 million with investment-grade counterparties and
$10 million with commodity exchange brokers.</font></p>
<p style="MARGIN-TOP: 11px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: ARIAL" size="2"><b>Economic Hedges</b></font></p>
<p style="MARGIN-TOP: 2px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">The Companies enter into
certain derivative instruments that do not qualify or are not
designated as hedges under the accounting rules for derivatives and
hedging. However, management believes these instruments represent
economic hedges that mitigate exposure to fluctuations in commodity
prices.</font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 6px">
 </p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">The fair values of the
Companies’ commodity derivatives at September 30, 2012
were:</font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 9px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr>
<td width="44%"></td>
<td valign="bottom" width="1%"></td>
<td width="39%"></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"><b><i>(Millions of
Dollars)</i></b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"><b>Fair Value of
Commodity Derivatives (a)<br />
Balance Sheet Location</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Con<br />
Edison</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>CECONY</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Derivative Assets</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Current</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">Other
current assets</font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   91</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 30</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Long-term</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1">Other deferred charges
and non-current assets</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">19</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">10</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top" colspan="3">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Total derivative assets</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 110</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 40</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top" colspan="3">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Impact of netting</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(59</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(13</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top" colspan="3">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Net derivative assets</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   51</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 27</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
</table>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 9px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr>
<td width="44%"></td>
<td valign="bottom" width="1%"></td>
<td width="39%"></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Derivative Liabilities</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Current</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">Fair
value of derivative liabilities</font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 149</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 60</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Long-term</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1">Fair value of derivative
liabilities</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">53</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">28</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top" colspan="3">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Total derivative
liabilities</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 202</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 88</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top" colspan="3">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Impact of netting</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(118</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(46</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top" colspan="3">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Net derivative liabilities</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   84</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 42</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
</table>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 6px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td valign="top" width="3%" align="left"><font style="FONT-FAMILY: ARIAL" size="1">(a)</font></td>
<td valign="top" align="left"><font style="FONT-FAMILY: ARIAL" size="1">Qualifying derivative contracts, which have been
designated as normal purchases or normal sales contracts, are not
reported at fair value under the accounting rules for derivatives
and hedging and, therefore, are excluded from the
table.</font></td>
</tr>
</table>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><font size="1"> </font></p>
<p style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">The fair values of the
Companies’ commodity derivatives at December 31, 2011
were:</font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 9px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr>
<td width="44%"></td>
<td valign="bottom" width="1%"></td>
<td width="39%"></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"><b><i>(Millions of
Dollars)</i></b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"><b>Fair Value of
Commodity Derivatives (a)<br />
Balance Sheet Location</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Con<br />
Edison</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>CECONY</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Derivative Assets</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Current</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">Other
current assets</font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 139</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  16</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Long-term</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1">Other deferred charges
and non-current assets</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">26</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">14</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top" colspan="3">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Total derivative assets</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 165</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  30</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top" colspan="3">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Impact of netting</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(95</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(6</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top" colspan="3">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Net derivative assets</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   70</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  24</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Derivative Liabilities</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Current</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">Fair
value of derivative liabilities</font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 331</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$127</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Long-term</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1">Fair value of derivative
liabilities</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">83</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">48</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top" colspan="3">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Total derivative
liabilities</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 414</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$175</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top" colspan="3">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Impact of netting</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(205</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(53</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top" colspan="3">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Net derivative liabilities</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 209</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$122</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
</table>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 6px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td valign="top" width="3%" align="left"><font style="FONT-FAMILY: ARIAL" size="1">(a)</font></td>
<td valign="top" align="left"><font style="FONT-FAMILY: ARIAL" size="1">Qualifying derivative contracts, which have been
designated as normal purchases or normal sales contracts, are not
reported at fair value under the accounting rules for derivatives
and hedging and, therefore, are excluded from the
table.</font></td>
</tr>
</table>
<p style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">The Utilities generally
recover all of their prudently incurred fuel, purchased power and
gas cost, including hedging gains and losses, in accordance with
rate provisions approved by the applicable state utility
commissions. In accordance with the accounting rules for regulated
operations, the Utilities record a regulatory asset or liability to
defer recognition of unrealized gains and losses on their electric
and gas derivatives. As gains and losses are realized in future
periods, they will be recognized as purchased power, gas and fuel
costs in the Companies’ consolidated income statements. Con
Edison’s competitive energy businesses record realized and
unrealized gains and losses on their derivative contracts in
earnings in the reporting period in which they occur.</font></p>
<p style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">The following tables
present the changes in the fair values of commodity derivatives
that have been deferred or recognized in earnings for the three and
nine months ended September 30, 2012:</font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 9px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr>
<td width="43%"></td>
<td valign="bottom" width="2%"></td>
<td width="39%"></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td valign="bottom" width="3%"></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="10" align="center">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align="center">
<font style="FONT-FAMILY: ARIAL" size="1"><b>Realized and
Unrealized Gains/(Losses) on Commodity Derivatives
(a)</b></font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 1px" align="center">
<font style="FONT-FAMILY: ARIAL" size="1"><b>Deferred or Recognized
in Income for the Three Months Ended September 30,
2012</b></font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"><b><i>(Millions of
Dollars)</i></b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"><b>Balance Sheet
Location</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Con<br />
Edison</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>CECONY</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top" colspan="10">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Pre-tax gains/(losses) deferred in
accordance with accounting rules for regulated
operations:</font></p>
</td>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">  </font></p>
</td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Current</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">Deferred derivative gains</font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Long-term</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1">Deferred derivative
gains</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">1</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">1</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: ARIAL" size="1">Total deferred
gains/(losses)</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   6</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   6</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Current</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">Deferred derivative losses</font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 51</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 42</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Current</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">Recoverable energy costs</font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(60</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(52</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Long-term</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1">Deferred derivative
losses</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">22</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">20</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: ARIAL" size="1">Total deferred
gains/(losses)</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 13</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 10</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 4em"><font style="FONT-FAMILY: ARIAL" size="1">Net deferred
gains/(losses)</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 19</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 16</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"><b>Income Statement
Location</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top" colspan="10">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Pre-tax gain/(loss) recognized in
income</font></p>
</td>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">  </font></p>
</td>
</tr>
<tr>
<td valign="top"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">Purchased power expense</font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   9</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">(b) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  —</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">Gas
purchased for resale</font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1">Non-utility
revenue</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">1</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">(b) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Total pre-tax gain/(loss) recognized
in income</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 10</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  —</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
</table>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 6px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td valign="top" width="3%" align="left"><font style="FONT-FAMILY: ARIAL" size="1">(a)</font></td>
<td valign="top" align="left"><font style="FONT-FAMILY: ARIAL" size="1">Qualifying derivative contracts, which have been
designated as normal purchases or normal sales contracts, are not
reported at fair value under the accounting rules for derivatives
and hedging and, therefore, are excluded from the
table.</font></td>
</tr>
</table>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td valign="top" width="3%" align="left"><font style="FONT-FAMILY: ARIAL" size="1">(b)</font></td>
<td valign="top" align="left"><font style="FONT-FAMILY: ARIAL" size="1">For the three months ended September 30, 2012, Con
Edison recorded in purchased power expense an unrealized pre-tax
gain/(loss) of $30 million.</font></td>
</tr>
</table>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><font size="1"> </font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 9px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr>
<td width="44%"></td>
<td valign="bottom" width="1%"></td>
<td width="40%"></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="10" align="center">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align="center">
<font style="FONT-FAMILY: ARIAL" size="1"><b>Realized and
Unrealized Gains/(Losses) on Commodity Derivatives
(a)</b></font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 1px" align="center">
<font style="FONT-FAMILY: ARIAL" size="1"><b>Deferred or Recognized
in Income for the Nine Months Ended September 30,
2012</b></font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"><b><i>(Millions of
Dollars)</i></b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"><b>Balance Sheet
Location</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Con<br />
Edison</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>CECONY</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top" colspan="10">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Pre-tax gains/(losses) deferred in
accordance with accounting rules for regulated
operations:</font></p>
</td>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">  </font></p>
</td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Current</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">Deferred derivative gains</font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$     5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$     5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Long-term</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1">Deferred derivative
gains</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">1</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">1</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: ARIAL" size="1">Total deferred
gains/(losses)</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$     6</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$     6</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Current</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">Deferred derivative losses</font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   89</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   78</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Current</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">Recoverable energy costs</font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(187</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(164</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Long-term</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1">Deferred derivative
losses</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">13</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">19</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: ARIAL" size="1">Total deferred
gains/(losses)</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  (85</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  (67</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 4em"><font style="FONT-FAMILY: ARIAL" size="1">Net deferred
gains/(losses)</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  (79</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  (61</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"><b>Income Statement
Location</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top" colspan="10">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Pre-tax gain/(loss) recognized in
income</font></p>
</td>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">  </font></p>
</td>
</tr>
<tr>
<td valign="top"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">Purchased power expense</font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  (49</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">)(b) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$    —</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">Gas
purchased for resale</font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1">Non-utility
revenue</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(11</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">)(b) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Total pre-tax gain/(loss) recognized
in income</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  (62</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$    —</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
</table>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 6px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td valign="top" width="3%" align="left"><font style="FONT-FAMILY: ARIAL" size="1">(a)</font></td>
<td valign="top" align="left"><font style="FONT-FAMILY: ARIAL" size="1">Qualifying derivative contracts, which have been
designated as normal purchases or normal sales contracts, are not
reported at fair value under the accounting rules for derivatives
and hedging and, therefore, are excluded from the
table.</font></td>
</tr>
</table>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td valign="top" width="3%" align="left"><font style="FONT-FAMILY: ARIAL" size="1">(b)</font></td>
<td valign="top" align="left"><font style="FONT-FAMILY: ARIAL" size="1">For the nine months ended September 30, 2012, Con
Edison recorded in non-utility revenues and purchased power expense
an unrealized pre-tax gain/(loss) of $(13) million and $75 million,
respectively.</font></td>
</tr>
</table>
<p style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">The following tables
present the changes in the fair values of commodity derivatives
that have been deferred or recognized in earnings for the three and
nine months ended September 30, 2011:</font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 9px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr>
<td width="43%"></td>
<td valign="bottom" width="2%"></td>
<td width="39%"></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td valign="bottom" width="3%"></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="10" align="center">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align="center">
<font style="FONT-FAMILY: ARIAL" size="1"><b>Realized and
Unrealized Gains/(Losses) on Commodity Derivatives
(a)</b></font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 1px" align="center">
<font style="FONT-FAMILY: ARIAL" size="1"><b>Deferred or Recognized
in Income for the Three Months Ended September 30,
2011</b></font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"><b><i>(Millions of
Dollars)</i></b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"><b>Balance Sheet
Location</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Con<br />
Edison</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>CECONY</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top" colspan="10">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Pre-tax gains/(losses) deferred in
accordance with accounting rules for regulated
operations:</font></p>
</td>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">  </font></p>
</td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Current</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">Deferred derivative gains</font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  (2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  (1</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Long-term</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1">Regulatory
liabilities</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">1</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">1</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: ARIAL" size="1">Total deferred
gains/(losses)</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  (1</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  —</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Current</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">Deferred derivative losses</font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 12</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Current</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">Recoverable energy costs</font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(75</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(53</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Long-term</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1">Regulatory
assets</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">10</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">6</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: ARIAL" size="1">Total deferred
gains/(losses)</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$(53</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$(40</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 4em"><font style="FONT-FAMILY: ARIAL" size="1">Net deferred
gains/(losses)</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$(54</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$(40</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"><b>Income Statement
Location</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top" colspan="10">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Pre-tax gain/(loss) recognized in
income</font></p>
</td>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">  </font></p>
</td>
</tr>
<tr>
<td valign="top"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">Purchased power expense</font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 29</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">(b) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  —</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">Gas
purchased for resale</font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">6</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1">Non-utility
revenue</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">5</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">(b) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Total pre-tax gain/(loss) recognized
in income</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 40</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  —</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
</table>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 6px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td valign="top" width="3%" align="left"><font style="FONT-FAMILY: ARIAL" size="1">(a)</font></td>
<td valign="top" align="left"><font style="FONT-FAMILY: ARIAL" size="1">Qualifying derivative contracts, which have been
designated as normal purchases or normal sales contracts, are not
reported at fair value under the accounting rules for derivatives
and hedging and, therefore, are excluded from the
table.</font></td>
</tr>
</table>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td valign="top" width="3%" align="left"><font style="FONT-FAMILY: ARIAL" size="1">(b)</font></td>
<td valign="top" align="left"><font style="FONT-FAMILY: ARIAL" size="1">For the three months ended September 30, 2011, Con
Edison recorded in non-utility revenues and purchased power expense
an unrealized pre-tax gain/(loss) of $(10) million and $(1)
million, respectively.</font></td>
</tr>
</table>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><font size="1"> </font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 9px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr>
<td width="44%"></td>
<td valign="bottom" width="1%"></td>
<td width="39%"></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="10" align="center">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align="center">
<font style="FONT-FAMILY: ARIAL" size="1"><b>Realized and
Unrealized Gains/(Losses) on Commodity Derivatives
(a)</b></font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 1px" align="center">
<font style="FONT-FAMILY: ARIAL" size="1"><b>Deferred or Recognized
in Income for the Nine Months Ended September 30,
2011</b></font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"><b><i>(Millions of
Dollars)</i></b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"><b>Balance Sheet
Location</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Con<br />
Edison</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>CECONY</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top" colspan="10">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Pre-tax gains/(losses) deferred in
accordance with accounting rules for regulated
operations:</font></p>
</td>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">  </font></p>
</td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Current</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">Deferred derivative gains</font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$    —</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$    —</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Long-term</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1">Regulatory
liabilities</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">3</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">3</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: ARIAL" size="1">Total deferred
gains/(losses)</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$     3</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$     3</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Current</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">Deferred derivative losses</font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   80</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   60</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Current</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">Recoverable energy costs</font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(177</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(134</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Long-term</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1">Regulatory
assets</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">38</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">27</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: ARIAL" size="1">Total deferred
gains/(losses)</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  (59</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  (47</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 4em"><font style="FONT-FAMILY: ARIAL" size="1">Net deferred
gains/(losses)</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  (56</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  (44</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"><b>Income Statement
Location</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top" colspan="10">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Pre-tax gain/(loss) recognized in
income</font></p>
</td>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">  </font></p>
</td>
</tr>
<tr>
<td valign="top"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">Purchased power expense</font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   81</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">(b) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$    —</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1">Gas
purchased for resale</font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">17</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1">Non-utility
revenue</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">22</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">(b) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Total pre-tax gain/(loss) recognized
in income</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 120</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$    —</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
</table>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 6px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td valign="top" width="3%" align="left"><font style="FONT-FAMILY: ARIAL" size="1">(a)</font></td>
<td valign="top" align="left"><font style="FONT-FAMILY: ARIAL" size="1">Qualifying derivative contracts, which have been
designated as normal purchases or normal sales contracts, are not
reported at fair value under the accounting rules for derivatives
and hedging and, therefore, are excluded from the
table.</font></td>
</tr>
</table>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td valign="top" width="3%" align="left"><font style="FONT-FAMILY: ARIAL" size="1">(b)</font></td>
<td valign="top" align="left"><font style="FONT-FAMILY: ARIAL" size="1">For the nine months ended September 30, 2011, Con
Edison recorded in non-utility revenues and purchased power expense
an unrealized pre-tax gain/(loss) of $(35) million and $59 million,
respectively.</font></td>
</tr>
</table>
<p style="MARGIN-TOP: 9px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px">
<font style="FONT-FAMILY: Times New Roman" size="2">As of
September 30, 2012, Con Edison had 1,289 contracts, including
628 CECONY contracts, which were considered to be derivatives under
the accounting rules for derivatives and hedging (excluding
qualifying derivative contracts, which have been designated as
normal purchases or normal sales contracts). The following table
presents the number of contracts by commodity type:</font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 9px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr>
<td width="22%"></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td valign="bottom" width="3%"></td>
<td valign="bottom" width="3%"></td>
<td></td>
<td></td>
<td valign="bottom" width="3%"></td>
<td valign="bottom" width="3%"></td>
<td></td>
<td></td>
<td valign="bottom" width="3%"></td>
<td valign="bottom" width="3%"></td>
<td></td>
<td></td>
<td valign="bottom" width="3%"></td>
<td valign="bottom" width="3%"></td>
<td></td>
<td></td>
<td valign="bottom" width="3%"></td>
<td valign="bottom" width="3%"></td>
<td></td>
<td></td>
<td valign="bottom" width="3%"></td>
<td valign="bottom" width="3%"></td>
<td></td>
<td></td>
<td valign="bottom" width="3%"></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
 <font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Electric Derivatives</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2"> <font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="10" align="center">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 1px" align="center">
<font style="FONT-FAMILY: ARIAL" size="1"><b>Gas
Derivatives</b></font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
 <font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Number of<br />
Energy<br />
Contracts (a)</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>MWHs (b)</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Number of<br />
Capacity<br />
Contracts (a)</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>MW-Months (b)</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Number of<br />
Contracts (a)</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>dths (b)</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Total<br />
Number of<br />
Contracts (a)</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Con Edison</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">576</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">12,807,613</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">78</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">10,019</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">635</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">86,541,700</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">1,289</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">CECONY</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">113</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">3,271,000</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">515</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">81,080,000</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">628</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
</table>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 6px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td valign="top" width="3%" align="left"><font style="FONT-FAMILY: ARIAL" size="1">(a)</font></td>
<td valign="top" align="left"><font style="FONT-FAMILY: ARIAL" size="1">Qualifying derivative contracts, which have been
designated as normal purchases or normal sales contracts, are not
reported at fair value under the accounting rules for derivatives
and hedging and, therefore, are excluded from the
table.</font></td>
</tr>
</table>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td valign="top" width="3%" align="left"><font style="FONT-FAMILY: ARIAL" size="1">(b)</font></td>
<td valign="top" align="left"><font style="FONT-FAMILY: ARIAL" size="1">Volumes are reported net of long and short
positions.</font></td>
</tr>
</table>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 9px">
 </p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">The Companies also enter
into electric congestion and gas basis swap contracts to hedge the
congestion and transportation charges which are associated with
electric and gas contracts and hedged volumes.</font></p>
<p style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">The collateral requirements
associated with the clearing and settlement of derivative
transactions are included in net cash flows from operating
activities in the Companies’ consolidated statement of cash
flows. Most derivative instrument contracts contain provisions that
may require the Companies to provide collateral on derivative
instruments in net liability positions. The amount of collateral to
be provided will depend on the fair value of the derivative
instruments and the Companies’ credit ratings.</font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><font size="1"> </font></p>
<p style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">The aggregate fair value of
all derivative instruments with credit-risk-related contingent
features that are in a net liability position and collateral posted
at September 30, 2012, and the additional collateral that
would have been required to be posted had the lowest applicable
credit rating been reduced one level and to below investment grade
were:</font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 9px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr>
<td width="78%"></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"><b><i>(Millions of
Dollars)</i></b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Con Edison (a)</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" nowrap="nowrap" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>CECONY (a)</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Aggregate fair value – net
liabilities</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$62</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$41</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Collateral posted</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$14</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  9</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Additional collateral (b) (downgrade
one level from current ratings (c))</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ —</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ —</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Additional collateral (b) (downgrade
to below investment grade from current ratings (c))</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$85</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">(d) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$45</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">(d) </font></td>
</tr>
</table>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 6px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td valign="top" width="3%" align="left"><font style="FONT-FAMILY: ARIAL" size="1">(a)</font></td>
<td valign="top" align="left"><font style="FONT-FAMILY: ARIAL" size="1">Non-derivative transactions for the purchase and sale of
electricity and gas and qualifying derivative instruments, which
have been designated as normal purchases or normal sales, are
excluded from the table. These transactions primarily include
purchases of electricity from independent system operators. In the
event the Utilities and Con Edison’s competitive energy
businesses were no longer extended unsecured credit for such
purchases, the Companies would be required to post collateral,
which at September 30, 2012, would have amounted to an
estimated $25 million for Con Edison. For certain other such
non-derivative transactions, the Companies could be required to
post collateral under certain circumstances, including in the event
counterparties had reasonable grounds for insecurity.</font></td>
</tr>
</table>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td valign="top" width="3%" align="left"><font style="FONT-FAMILY: ARIAL" size="1">(b)</font></td>
<td valign="top" align="left"><font style="FONT-FAMILY: ARIAL" size="1">The Companies measure the collateral requirements by
taking into consideration the fair value amounts of derivative
instruments that contain credit-risk-related contingent features
that are in a net liabilities position plus amounts owed to
counterparties for settled transactions and amounts required by
counterparties for minimum financial security. The fair value
amounts represent unrealized losses, net of any unrealized gains
where the Companies have a legally enforceable right of
setoff.</font></td>
</tr>
</table>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td valign="top" width="3%" align="left"><font style="FONT-FAMILY: ARIAL" size="1">(c)</font></td>
<td valign="top" align="left"><font style="FONT-FAMILY: ARIAL" size="1">The current ratings are Moody’s, S&P and Fitch
long-term credit rating of, as applicable, Con Edison
(Baa1/BBB+/BBB+), CECONY (A3/A-/A-) or O&R (Baa1/A-/A-). Credit
ratings assigned by rating agencies are expressions of opinions
that are subject to revision or withdrawal at any time by the
assigning rating agency.</font></td>
</tr>
</table>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td valign="top" width="3%" align="left"><font style="FONT-FAMILY: ARIAL" size="1">(d)</font></td>
<td valign="top" align="left"><font style="FONT-FAMILY: ARIAL" size="1">Derivative instruments that are net assets have been
excluded from the table. At September 30, 2012, if Con Edison
had been downgraded to below investment grade, it would have been
required to post additional collateral for such derivative
instruments of $27 million.</font></td>
</tr>
</table>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 11px">
 </p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Interest Rate
Swap</b></font></p>
<p style="MARGIN-TOP: 2px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">O&R has an interest
rate swap pursuant to which it pays a fixed-rate of 6.09 percent
and receives a LIBOR-based variable rate. The fair value of this
interest rate swap at September 30, 2012 was an unrealized
loss of $6 million, which has been included in Con Edison’s
consolidated balance sheet as a noncurrent liability/fair value of
derivative liabilities and a regulatory asset. The increase in the
fair value of the swap for the three and nine months ended
September 30, 2012 was $1 million and $2 million,
respectively. In the event O&R’s credit rating was
downgraded to BBB- or lower by S&P or Baa3 or lower by
Moody’s, the swap counterparty could elect to terminate the
agreement and, if it did so, the parties would then be required to
settle the transaction.</font></p>
</div>
-28000000
1886000000
53000000
118000000
<div>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">The carrying amounts and
fair values of long-term debt are:</font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 9px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr>
<td width="65%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="1%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"><b><i>(Millions of
Dollars)</i></b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>September 30, 2012</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>December 31, 2011</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"><b>Long-Term Debt
(including current portion)</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align="center">
<font style="FONT-FAMILY: ARIAL" size="1"><b>Carrying</b></font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 1px" align="center">
<font style="FONT-FAMILY: ARIAL" size="1"><b>Amount</b></font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Fair<br />
Value</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align="center">
<font style="FONT-FAMILY: ARIAL" size="1"><b>Carrying</b></font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 1px" align="center">
<font style="FONT-FAMILY: ARIAL" size="1"><b>Amount</b></font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Fair<br />
Value</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Con Edison</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$10,769</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$13,197</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$10,673</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$12,744</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">CECONY</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  9,845</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$12,001</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  9,745</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$11,593</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
</table>
</div>
<div>
<p style="MARGIN-TOP: 2px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">For the three and nine
months ended September 30, 2012 and 2011, basic and diluted
EPS for Con Edison are calculated as follows:</font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 9px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr>
<td width="69%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="1%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
 <font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>For the Three Months<br />
Ended September 30,</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>For the Nine Months<br />
Ended September 30,</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"><b><i>(Millions of
Dollars, except per share amounts/Shares in
Millions)</i></b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2012</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2011</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2012</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2011</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Net income for common
stock</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   440</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   383</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   931</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   860</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Weighted average common shares
outstanding – basic</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">292.9</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">292.9</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">292.9</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">292.5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Add: Incremental shares attributable
to effect of potentially dilutive securities</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">1.7</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">1.7</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">1.7</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">1.7</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Adjusted weighted average common
shares outstanding – diluted</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">294.6</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">294.6</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">294.6</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">294.2</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Net income for common stock per
common share – basic</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  1.50</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  1.31</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  3.18</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  2.94</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Net income for common stock per
common share – diluted</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  1.49</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  1.30</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  3.16</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  2.92</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
</table>
</div>
8000000
3.18
314000000
-1000000
5000000
3000000
344000000
239000000
934000000
4000000
<div>
<p style="MARGIN-TOP: 11px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: ARIAL" color="#8C8272" size="2"><b>Note G —
Environmental Matters</b></font></p>
<p style="MARGIN-TOP: 2px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: ARIAL" size="2"><b>Superfund Sites</b></font></p>
<p style="MARGIN-TOP: 2px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">Hazardous substances, such
as asbestos, polychlorinated biphenyls (PCBs) and coal tar, have
been used or generated in the course of operations of the Utilities
and their predecessors and are present at sites and in facilities
and equipment they currently or previously owned, including sites
at which gas was manufactured or stored.</font></p>
<p style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">The Federal Comprehensive
Environmental Response, Compensation and Liability Act of 1980 and
similar state statutes (Superfund) impose joint and several
liability, regardless of fault, upon generators of hazardous
substances for investigation and remediation costs (which include
costs of demolition, removal, disposal, storage, replacement,
containment, and monitoring) and natural resource damages.
Liability under these laws can be material and may be imposed for
contamination from past acts, even though such past acts may have
been lawful at the time they occurred. The sites at which the
Utilities have been asserted to have liability under these laws,
including their manufactured gas plant sites and any neighboring
areas to which contamination may have migrated, are referred to
herein as “Superfund Sites.”</font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><font size="1"> </font></p>
<p style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">For Superfund Sites where
there are other potentially responsible parties and the Utilities
are not managing the site investigation and remediation, the
accrued liability represents an estimate of the amount the
Utilities will need to pay to investigate and, where determinable,
discharge their related obligations. For Superfund Sites (including
the manufactured gas plant sites) for which one of the Utilities is
managing the investigation and remediation, the accrued liability
represents an estimate of the company’s share of undiscounted
cost to investigate the sites and, for sites that have been
investigated in whole or in part, the cost to remediate the sites,
if remediation is necessary and if a reasonable estimate of such
cost can be made. Remediation costs are estimated in light of the
information available, applicable remediation standards, and
experience with similar sites.</font></p>
<p style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">The accrued liabilities and
regulatory assets related to Superfund Sites at September 30,
2012 and December 31, 2011 were as follows:</font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 9px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr>
<td width="44%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td valign="bottom" width="3%"></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
<td valign="bottom" width="3%"></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
<td valign="bottom" width="3%"></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
 <font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Con Edison</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>CECONY</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"><b><i>(Millions of
Dollars)</i></b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2012</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2011</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-RIGHT: #000000 1px dotted" valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2012</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2011</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Accrued Liabilities:</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td style="BORDER-RIGHT: #000000 1px dotted" valign="bottom">
<font size="1"> </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Manufactured gas plant
sites</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$466</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$422</font></td>
<td style="BORDER-RIGHT: #000000 1px dotted" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$352</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$307</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Other Superfund Sites</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">71</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">67</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-RIGHT: #000000 1px dotted" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">71</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">66</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Total</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$537</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$489</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-RIGHT: #000000 1px dotted" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$423</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$373</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Regulatory assets</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$722</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$681</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-RIGHT: #000000 1px dotted" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$607</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$564</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
</table>
<p style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">Most of the accrued
Superfund Site liability relates to sites that have been
investigated, in whole or in part. However, for some of the sites,
the extent and associated cost of the required remediation has not
yet been determined. As investigations progress and information
pertaining to the required remediation becomes available, the
Utilities expect that additional liability may be accrued, the
amount of which is not presently determinable but may be material.
Under their current rate agreements, the Utilities are permitted to
recover or defer as regulatory assets (for subsequent recovery
through rates) certain site investigation and remediation costs. In
February 2011, the NYSPSC initiated a proceeding to examine the
existing mechanisms pursuant to which utilities recover such costs
and possible alternatives.</font></p>
<p style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">Environmental remediation
costs incurred and insurance recoveries received related to
Superfund Sites for the three and nine months ended
September 30, 2012 and 2011, were as follows:</font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 9px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr>
<td width="40%"></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td valign="bottom" width="6%"></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td valign="bottom" width="6%"></td>
<td valign="bottom" width="6%"></td>
<td></td>
<td></td>
<td valign="bottom" width="6%"></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
 <font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="14" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>For the Three Months Ended September 30,</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
 <font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Con Edison</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-RIGHT: #000000 1px dotted" valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>CECONY</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"><b><i>(Millions of
Dollars)</i></b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2012</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2011</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-RIGHT: #000000 1px dotted" valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2012</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2011</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Remediation costs incurred</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$3</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$9</font></td>
<td style="BORDER-RIGHT: #000000 1px dotted" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$1</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$9</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Insurance recoveries
received</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-RIGHT: #000000 1px dotted" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
</table>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 9px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr>
<td width="40%"></td>
<td valign="bottom" width="3%"></td>
<td></td>
<td></td>
<td valign="bottom" width="3%"></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
<td valign="bottom" width="5%"></td>
<td></td>
<td></td>
<td valign="bottom" width="5%"></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
 <font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="14" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>For the Nine Months Ended September 30,</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
 <font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Con Edison</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-RIGHT: #000000 1px dotted" valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>CECONY</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"><b><i>(Millions of
Dollars)</i></b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2012</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2011</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-RIGHT: #000000 1px dotted" valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2012</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2011</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Remediation costs incurred</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$18</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$24</font></td>
<td style="BORDER-RIGHT: #000000 1px dotted" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$15</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$22</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Insurance recoveries
received</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-RIGHT: #000000 1px dotted" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
</table>
<p style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">In 2010, CECONY estimated
that for its manufactured gas plant sites, its aggregate
undiscounted potential liability for the investigation and
remediation of coal tar and/or other manufactured gas plant-related
environmental contaminants could range up to $1.9 billion. In 2010,
O&R estimated that for its manufactured gas plant sites, each
of which has been investigated, the aggregate undiscounted
potential liability for the remediation of such contaminants could
range up to $200 million. These estimates were based on the
assumption that there is contamination at all sites, including
those that have not yet been fully investigated and additional
assumptions about the extent of the contamination and the type and
extent of the remediation that may be required. Actual experience
may be materially different.</font></p>
<p style="MARGIN-TOP: 11px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: ARIAL" size="2"><b>Asbestos
Proceedings</b></font></p>
<p style="MARGIN-TOP: 2px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">Suits have been brought in
New York State and federal courts against the Utilities and many
other defendants, wherein a large number of plaintiffs sought large
amounts of compensatory and punitive damages for deaths and
injuries allegedly caused by exposure to asbestos at various
premises of the Utilities. The suits that have been resolved, which
are many, have been resolved without any payment by the Utilities,
or for amounts that were not, in the aggregate, material to them.
The amounts specified in all the remaining thousands of suits total
billions of dollars; however, the Utilities believe that these
amounts are greatly exaggerated, based on the disposition of
previous claims. In 2010, CECONY estimated that its aggregate
undiscounted potential liability for these suits and additional
suits that may be brought over the next 15 years is $10 million.
The estimate was based upon a combination of modeling, historical
data analysis and risk factor assessment. Actual experience may be
materially different. In addition, certain current and former
employees have claimed or are claiming workers’ compensation
benefits based on alleged disability from exposure to asbestos.
Under its current rate agreements, CECONY is permitted to defer as
regulatory assets (for subsequent recovery through rates) costs
incurred for its asbestos lawsuits and workers’ compensation
claims. The accrued liability for asbestos suits and workers’
compensation proceedings (including those related to asbestos
exposure) and the amounts deferred as regulatory assets for the
Companies at September 30, 2012 and December 31, 2011
were as follows:</font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 9px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr>
<td width="48%"></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
<td valign="bottom" width="4%"></td>
<td></td>
<td></td>
<td valign="bottom" width="4%"></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
 <font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Con Edison</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>CECONY</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"><b><i>(Millions of
Dollars)</i></b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2012</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2011</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-RIGHT: #000000 1px dotted" valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2012</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2011</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Accrued liability – asbestos
suits</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$10</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$10</font></td>
<td style="BORDER-RIGHT: #000000 1px dotted" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$10</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$10</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Regulatory assets – asbestos
suits</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$10</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$10</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-RIGHT: #000000 1px dotted" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$10</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$10</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Accrued liability –
workers’ compensation</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$94</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$98</font></td>
<td style="BORDER-RIGHT: #000000 1px dotted" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$89</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$93</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Regulatory assets –
workers’ compensation</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$19</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$23</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-RIGHT: #000000 1px dotted" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$19</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$23</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
</table>
</div>
83000000
3.16
1.815
13000000
<div>
<p style="MARGIN-TOP: 2px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">The components of the
Companies’ net periodic postretirement benefit costs for the
three and nine months ended September 30, 2012 and 2011 were
as follows:</font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 9px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr>
<td width="72%"></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
 <font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="14" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>For the Three Months Ended September 30,</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
 <font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Con Edison</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-RIGHT: #000000 1px dotted" valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>CECONY</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"><b><i>(Millions of
Dollars)</i></b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2012</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2011</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-RIGHT: #8c8272 1px dotted" valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-LEFT: #8c8272 1px dotted" valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2012</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2011</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Service cost</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   6</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-LEFT: #8c8272 1px dotted" valign="bottom">
<font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Interest cost on accumulated other
postretirement benefit obligation</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">18</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">20</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-LEFT: #8c8272 1px dotted" valign="bottom">
<font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">16</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">18</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Expected return on plan
assets</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(21</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(22</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-LEFT: #8c8272 1px dotted" valign="bottom">
<font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(19</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(21</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Amortization of net actuarial
loss</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">24</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">22</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-LEFT: #8c8272 1px dotted" valign="bottom">
<font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">22</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">20</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Amortization of prior service
cost</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(5</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(3</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-LEFT: #8c8272 1px dotted" valign="bottom">
<font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(4</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(3</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Amortization of transition
obligation</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">1</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-LEFT: #8c8272 1px dotted" valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">1</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">NET PERIODIC POSTRETIREMENT BENEFIT
COST</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 22</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 25</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-LEFT: #8c8272 1px dotted" valign="bottom">
<font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 20</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 20</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Cost capitalized</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(8</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(9</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-LEFT: #8c8272 1px dotted" valign="bottom">
<font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Reconciliation to rate
level</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">3</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">3</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-LEFT: #8c8272 1px dotted" valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">3</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">3</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Cost charged to operating
expenses</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 17</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 19</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-LEFT: #8c8272 1px dotted" valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 16</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 16</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
</table>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 9px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr>
<td width="72%"></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
 <font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="14" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>For the Nine Months Ended September 30,</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
 <font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Con Edison</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-RIGHT: #8c8272 1px dotted" valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>CECONY</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"><b><i>(Millions of
Dollars)</i></b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2012</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2011</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-LEFT: #8c8272 1px dotted" valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2012</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>2011</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Service cost</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 20</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 19</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-LEFT: #8c8272 1px dotted" valign="bottom">
<font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 15</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 15</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Interest cost on accumulated other
postretirement benefit obligation</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">55</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">62</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-LEFT: #8c8272 1px dotted" valign="bottom">
<font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">48</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">54</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Expected return on plan
assets</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(64</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(66</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-LEFT: #8c8272 1px dotted" valign="bottom">
<font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(56</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(59</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Amortization of net actuarial
loss</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">73</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">66</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-LEFT: #8c8272 1px dotted" valign="bottom">
<font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">65</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">60</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Amortization of prior service
cost</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(16</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-LEFT: #8c8272 1px dotted" valign="bottom">
<font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(13</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(9</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Amortization of transition
obligation</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">1</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">3</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-LEFT: #8c8272 1px dotted" valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">1</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">3</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">NET PERIODIC POSTRETIREMENT BENEFIT
COST</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 69</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 77</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-LEFT: #8c8272 1px dotted" valign="bottom">
<font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 60</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 64</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Cost capitalized</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(24</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(27</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-LEFT: #8c8272 1px dotted" valign="bottom">
<font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(20</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(22</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Reconciliation to rate
level</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">15</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">12</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-LEFT: #8c8272 1px dotted" valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">12</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">10</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Cost charged to operating
expenses</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 60</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 62</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid; BORDER-LEFT: #8c8272 1px dotted" valign="bottom"><font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 52</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 52</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
</table>
</div>
294600000
<div>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: ARIAL" color="#8C8272" size="2"><b>Note C —
Capitalization</b></font></p>
<p style="MARGIN-TOP: 2px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">In March 2012, CECONY
issued $400 million of 4.20 percent 30-year debentures, $239
million of the net proceeds from the sale of which were used to
redeem on May 1, 2012 all outstanding shares of its $5 Cumulative
Preferred Stock and Cumulative Preferred Stock ($100 par value). In
November 2012, CECONY purchased $225 million of its tax-exempt debt
that was subject to mandatory tender.</font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 9px">
 </p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">The carrying amounts and
fair values of long-term debt are:</font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 9px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr>
<td width="65%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="1%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="2%"></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"><b><i>(Millions of
Dollars)</i></b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>September 30, 2012</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>December 31, 2011</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"><b>Long-Term Debt
(including current portion)</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align="center">
<font style="FONT-FAMILY: ARIAL" size="1"><b>Carrying</b></font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 1px" align="center">
<font style="FONT-FAMILY: ARIAL" size="1"><b>Amount</b></font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Fair<br />
Value</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align="center">
<font style="FONT-FAMILY: ARIAL" size="1"><b>Carrying</b></font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 1px" align="center">
<font style="FONT-FAMILY: ARIAL" size="1"><b>Amount</b></font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Fair<br />
Value</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Con Edison</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$10,769</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$13,197</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$10,673</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$12,744</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">CECONY</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  9,845</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$12,001</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  9,745</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$11,593</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
</table>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><font size="1"> </font></p>
<p style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">Fair values of long-term
debt have been estimated primarily using available market
information. For Con Edison, $12,561 million and $636 million of
the fair value of long-term debt at September 30, 2012 are
classified as Level 2 and Level 3, respectively. For CECONY,
$11,365 million and $636 million of the fair value of long-term
debt at September 30, 2012 are classified as Level 2 and Level
3, respectively (see Note K). 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.</font></p>
</div>
-350000000
3000000
<div>
<p style="MARGIN-TOP: 11px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: ARIAL" color="#8C8272" size="2"><b>Note K —
Fair Value Measurements</b></font></p>
<p style="MARGIN-TOP: 2px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">The accounting rules for
fair value measurements and disclosures define fair value as the
price that would be received to sell an asset or paid to transfer a
liability in an orderly transaction between market participants at
the measurement date in a principal or most advantageous market.
Fair value is a market-based measurement that is determined based
on inputs, which refer broadly to assumptions that market
participants use in pricing assets or liabilities. These inputs can
be readily observable, market corroborated, or generally
unobservable firm inputs. The Companies often make certain
assumptions that market participants would use in pricing the asset
or liability, including assumptions about risk, and the risks
inherent in the inputs to valuation techniques. The Companies use
valuation techniques that maximize the use of observable inputs and
minimize the use of unobservable inputs.</font></p>
<p style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">The accounting rules for
fair value measurements and disclosures established a fair value
hierarchy, which prioritizes the inputs to valuation techniques
used to measure fair value in three broad levels. The rules require
that assets and liabilities be classified in their entirety based
on the level of input that is significant to the fair value
measurement. Assessing the significance of a particular input may
require judgment considering factors specific to the asset or
liability, and may affect the valuation of the asset or liability
and their placement within the fair value hierarchy. The Companies
classify fair value balances based on the fair value hierarchy
defined by the accounting rules for fair value measurements and
disclosures as follows:</font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 2px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td width="1%"><font size="1"> </font></td>
<td valign="top" width="1%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2"><font style="FONT-FAMILY: Times New Roman" color="#8C8272" size="2">•</font></font></td>
<td valign="top" width="1%"><font size="1"> </font></td>
<td valign="top" align="left">
<p align="left"><font style="FONT-FAMILY: Times New Roman" size="2">Level 1 – Consists of assets or liabilities whose value
is based on unadjusted quoted prices in active markets at the
measurement date. An active market is one in which transactions for
assets or liabilities occur with sufficient frequency and volume to
provide pricing information on an ongoing basis. This category
includes contracts traded on active exchange markets valued using
unadjusted prices quoted directly from the exchange.</font></p>
</td>
</tr>
</table>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 2px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td width="1%"><font size="1"> </font></td>
<td valign="top" width="1%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2"><font style="FONT-FAMILY: Times New Roman" color="#8C8272" size="2">•</font></font></td>
<td valign="top" width="1%"><font size="1"> </font></td>
<td valign="top" align="left">
<p align="left"><font style="FONT-FAMILY: Times New Roman" size="2">Level 2 – Consists of assets or liabilities valued using
industry standard models and based on prices, other than quoted
prices within Level 1, that are either directly or indirectly
observable as of the measurement date. The industry standard models
consider observable assumptions including time value, volatility
factors, and current market and contractual prices for the
underlying commodities, in addition to other economic measures.
This category includes contracts traded on active exchanges or in
over-the-counter markets priced with industry standard
models.</font></p>
</td>
</tr>
</table>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 2px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td width="1%"><font size="1"> </font></td>
<td valign="top" width="1%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2"><font style="FONT-FAMILY: Times New Roman" color="#8C8272" size="2">•</font></font></td>
<td valign="top" width="1%"><font size="1"> </font></td>
<td valign="top" align="left">
<p align="left"><font style="FONT-FAMILY: Times New Roman" size="2">Level 3 – Consists of assets or liabilities whose fair
value is estimated based on internally developed models or
methodologies using inputs that are generally less readily
observable and supported by little, if any, market activity at the
measurement date. Unobservable inputs are developed based on the
best available information and subject to cost benefit constraints.
This category includes contracts priced using models that are
internally developed and contracts placed in illiquid markets. It
also includes contracts that expire after the period of time for
which quoted prices are available and internal models are used to
determine a significant portion of the value.</font></p>
</td>
</tr>
</table>
<p style="MARGIN-TOP: 9px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">Effective January 1,
2012, the Companies adopted Accounting Standards Update (ASU)
No. 2011-04, “Fair Value Measurement (Topic 820):
Amendments to Achieve Common Fair Value Measurement and Disclosure
Requirements in U.S. GAAP and IFRSs.” The amendments expand
existing disclosure requirements for fair value measurements and
make other amendments. For fair value measurements in Level 3, this
update requires the Companies to provide a description of the
valuation process in place, a quantitative disclosure of
unobservable inputs and assumptions used in the measurement as well
as a narrative description of the sensitivity of the fair value to
changes in unobservable inputs and interrelationships between those
inputs. The update also requires the Companies to disclose any
transfers between Levels 1 and 2 of fair value hierarchy
measurements and the reasons for the transfers.</font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 9px">
 </p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">Assets and liabilities
measured at fair value on a recurring basis as of
September 30, 2012 are summarized below.</font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 9px">
 </p>
<table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr>
<td width="38%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="1%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="1%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="1%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="1%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="1%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="1%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="1%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="1%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="1%"></td>
<td valign="bottom" width="1%"></td>
<td></td>
<td></td>
<td valign="bottom" width="1%"></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
 <font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Level 1</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Level 2</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Level 3</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="6" align="center">
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align="center">
<font style="FONT-FAMILY: ARIAL" size="1"><b>Netting</b></font></p>
<p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 1px" align="center">
<font style="FONT-FAMILY: ARIAL" size="1"><b>Adjustments
(4)</b></font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="6" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Total</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"><b><i>(Millions of
Dollars)</i></b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Con<br />
Edison</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>CECONY</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Con<br />
Edison</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>CECONY</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Con<br />
Edison</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>CECONY</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Con<br />
Edison</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>CECONY</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>Con<br />
Edison</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: ARIAL" size="1"><b>CECONY</b></font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Derivative assets:</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Commodity (1)</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$    2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  48</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  16</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   47</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 12</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  (46</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  (3</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   51</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  27</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Transfer in (5) (6)</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">24</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">24</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Transfer out (5) (6)</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(24</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(24</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Commodity Total</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$    2</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  2</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  72</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  16</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   23</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 12</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  (46</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  (3</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 51</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  27</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Other assets</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">103</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">96</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">1</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">105</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">95</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">208</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">192</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Transfer in (5) (6)</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">105</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">95</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">105</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">95</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Transfer out (5) (6)</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(105</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(95</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(105</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(95</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: ARIAL" size="1">Other assets (3)</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$103</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$96</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$105</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  96</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$    —</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  —</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$    —</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  —</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 208</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$192</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Total</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$105</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$98</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$177</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$112</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   23</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 12</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  (46</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  (3</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$ 259</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$219</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: ARIAL" size="1">Derivative liabilities:</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
<td valign="bottom"></td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Commodity</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$    4</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  1</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$114</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  68</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   71</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   9</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$(105</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$(36</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   84</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  42</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: ARIAL" size="1">Transfer in (5) (6)</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">7</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">50</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">12</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">3</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">3</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">60</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">22</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: ARIAL" size="1">Transfer out (5) (6)</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(2</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(10</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(10</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(48</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(12</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(60</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(22</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
</tr>
<tr bgcolor="#E5E5E5">
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: ARIAL" size="1">Commodity Total (1)</font></p>
</td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$9</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  8</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$154</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  70</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   26</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  —</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$(105</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$(36</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$   84</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom">
<font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">$  42</font></td>
<td style="BORDER-BOTTOM: #8c8272 1px solid" valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
</tr>
<tr>
<td valign="top">
<p style="TEXT-INDENT: -1em; MARGIN-LEFT: 2em"><font style="FONT-FAMILY: ARIAL" size="1">Interest rate contract</font></p>
</td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">—</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">  </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" size="1">(2</font></td>
<td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: ARIAL" size="1">) </font></td>
<td valign="bottom"><font size="1"> </font></td>
<td valign="bottom"><font style="FONT-FAMILY: ARIAL" size="1"> </font></td>
<td valign="bottom" align="right"><font style="FONT-FAMILY: ARIAL" si