Regulatory Matters (Tables)

6 Months Ended

Jun. 30, 2020

Regulated Operations [Abstract]

Schedule of Regulatory Assets

Regulatory assets and liabilities at June 30, 2020 and December 31, 2019 were comprised of the following items:

	Con Edison		CECONY
(Millions of Dollars)	2020	2019	2020	2019
Regulatory assets
Unrecognized pension and other postretirement costs	$2,072	$2,541	$1,947	$2,403
Environmental remediation costs	729	732	648	647
Revenue taxes	336	321	322	308
Property tax reconciliation	235	219	230	210
Pension and other postretirement benefits deferrals	229	71	196	47
MTA power reliability deferral	212	248	212	248
Deferred derivative losses	142	83	133	76
System peak reduction and energy efficiency programs	103	131	102	130
Municipal infrastructure support costs	72	75	72	75
Deferred storm costs	70	77	—	—
Brooklyn Queens demand management program	37	39	37	39
Meadowlands heater odorization project	34	35	34	35
Gate station upgrade project	28	19	28	19
Unamortized loss on reacquired debt	24	28	22	26
Recoverable REV demonstration project costs	23	21	21	19
Preferred stock redemption	22	22	22	22
Non-wire alternative projects	14	14	14	14
Workers’ compensation	—	3	—	3
Other	224	180	212	166
Regulatory assets – noncurrent	4,606	4,859	4,252	4,487
Deferred derivative losses	106	128	93	113
Recoverable energy costs	11	—	4	—
Regulatory assets – current	117	128	97	113
Total Regulatory Assets	$4,723	$4,987	$4,349	$4,600
Regulatory liabilities
Future income tax	$2,323	$2,426	$2,175	$2,275
Allowance for cost of removal less salvage	1,035	989	884	843
TCJA net benefits*	379	471	366	454
Net proceeds from sale of property	159	173	159	173
Net unbilled revenue deferrals	155	199	155	199
Energy efficiency portfolio standard unencumbered funds	88	122	85	118
Pension and other postretirement benefit deferrals	72	75	40	46
System benefit charge carrying charge	56	48	50	44
Property tax refunds	38	45	38	45
Unrecognized other postretirement costs	33	9	—	—
BQDM and REV Demo reconciliations	26	27	25	26
Settlement of gas proceedings	22	10	22	10
Sales and use tax refunds	18	8	18	8
Earnings sharing - electric, gas and steam	17	22	10	15
Settlement of prudence proceeding	7	8	7	8
Other	224	195	188	163
Regulatory liabilities – noncurrent	4,652	4,827	4,222	4,427
Refundable energy costs	31	44	8	12
Deferred derivative gains	32	34	31	34
Revenue decoupling mechanism	—	24	—	17
Regulatory liabilities – current	63	102	39	63
Total Regulatory Liabilities	$4,715	$4,929	$4,261	$4,490

* See "Other Regulatory Matters," above.

Schedule of Regulatory Liabilities

Regulatory assets and liabilities at June 30, 2020 and December 31, 2019 were comprised of the following items:

	Con Edison		CECONY
(Millions of Dollars)	2020	2019	2020	2019
Regulatory assets
Unrecognized pension and other postretirement costs	$2,072	$2,541	$1,947	$2,403
Environmental remediation costs	729	732	648	647
Revenue taxes	336	321	322	308
Property tax reconciliation	235	219	230	210
Pension and other postretirement benefits deferrals	229	71	196	47
MTA power reliability deferral	212	248	212	248
Deferred derivative losses	142	83	133	76
System peak reduction and energy efficiency programs	103	131	102	130
Municipal infrastructure support costs	72	75	72	75
Deferred storm costs	70	77	—	—
Brooklyn Queens demand management program	37	39	37	39
Meadowlands heater odorization project	34	35	34	35
Gate station upgrade project	28	19	28	19
Unamortized loss on reacquired debt	24	28	22	26
Recoverable REV demonstration project costs	23	21	21	19
Preferred stock redemption	22	22	22	22
Non-wire alternative projects	14	14	14	14
Workers’ compensation	—	3	—	3
Other	224	180	212	166
Regulatory assets – noncurrent	4,606	4,859	4,252	4,487
Deferred derivative losses	106	128	93	113
Recoverable energy costs	11	—	4	—
Regulatory assets – current	117	128	97	113
Total Regulatory Assets	$4,723	$4,987	$4,349	$4,600
Regulatory liabilities
Future income tax	$2,323	$2,426	$2,175	$2,275
Allowance for cost of removal less salvage	1,035	989	884	843
TCJA net benefits*	379	471	366	454
Net proceeds from sale of property	159	173	159	173
Net unbilled revenue deferrals	155	199	155	199
Energy efficiency portfolio standard unencumbered funds	88	122	85	118
Pension and other postretirement benefit deferrals	72	75	40	46
System benefit charge carrying charge	56	48	50	44
Property tax refunds	38	45	38	45
Unrecognized other postretirement costs	33	9	—	—
BQDM and REV Demo reconciliations	26	27	25	26
Settlement of gas proceedings	22	10	22	10
Sales and use tax refunds	18	8	18	8
Earnings sharing - electric, gas and steam	17	22	10	15
Settlement of prudence proceeding	7	8	7	8
Other	224	195	188	163
Regulatory liabilities – noncurrent	4,652	4,827	4,222	4,427
Refundable energy costs	31	44	8	12
Deferred derivative gains	32	34	31	34
Revenue decoupling mechanism	—	24	—	17
Regulatory liabilities – current	63	102	39	63
Total Regulatory Liabilities	$4,715	$4,929	$4,261	$4,490

* See "Other Regulatory Matters," above.