Regulatory Matters (Tables)

6 Months Ended

Jun. 30, 2021

Regulated Operations [Abstract]

Schedule of Regulatory Assets

Regulatory assets and liabilities at June 30, 2021 and December 31, 2020 were comprised of the following items:

	Con Edison		CECONY
(Millions of Dollars)	2021	2020	2021	2020
Regulatory assets
Unrecognized pension and other postretirement costs	$2,750	$3,241	$2,607	$3,065
Environmental remediation costs	852	865	783	791
Pension and other postretirement benefits deferrals	395	315	344	272
Revenue taxes	373	356	357	342
Property tax reconciliation	246	241	246	239
COVID-19 pandemic deferrals	239	115	234	113
Deferred storm costs	225	195	112	83
MTA power reliability deferral	164	188	164	188
System peak reduction and energy efficiency programs	88	124	88	124
Deferred derivative losses	75	120	69	111
Municipal infrastructure support costs	52	62	52	62
Brooklyn Queens demand management program	35	36	35	36
Meadowlands heater odorization project	31	32	31	32
Preferred stock redemption	21	21	21	21
Non-wire alternative projects	19	18	19	18
Unamortized loss on reacquired debt	18	21	16	19
Recoverable REV demonstration project costs	18	20	16	18
Gate station upgrade project	16	25	16	25
Other	272	200	262	186
Regulatory assets – noncurrent	5,889	6,195	5,472	5,745
Deferred derivative losses	161	190	152	177
Recoverable energy costs	23	76	15	67
Regulatory assets – current	184	266	167	244
Total Regulatory Assets	$6,073	$6,461	$5,639	$5,989
Regulatory liabilities
Future income tax	$2,093	$2,207	$1,949	$2,062
Allowance for cost of removal less salvage	1,092	1,090	931	932
Net unbilled revenue deferrals	175	198	175	198
TCJA net benefits*	209	295	204	286
Net proceeds from sale of property	120	137	120	137
Pension and other postretirement benefit deferrals	94	85	51	46
System benefit charge carrying charge	68	64	61	57
Energy efficiency portfolio standard unencumbered funds	37	1	38	—
Property tax refunds	35	36	35	35
BQDM and REV Demo reconciliations	26	27	23	25
Sales and use tax refunds	19	16	18	16
Earnings sharing - electric, gas and steam	14	15	10	10
Unrecognized other postretirement costs	12	11	—	—
Settlement of gas proceedings	11	21	11	21
Settlement of prudence proceeding	6	5	6	5
Workers' compensation	4	3	4	3
Other	363	302	313	261
Regulatory liabilities – noncurrent	4,378	4,513	3,949	4,094
Deferred derivative gains	155	8	144	7
Refundable energy costs	23	28	4	4
Revenue decoupling mechanism	2	—	—	—
Regulatory liabilities – current	180	36	148	11
Total Regulatory Liabilities	$4,558	$4,549	$4,097	$4,105

* See "Other Regulatory Matters," above.

Schedule of Regulatory Liabilities

Regulatory assets and liabilities at June 30, 2021 and December 31, 2020 were comprised of the following items:

	Con Edison		CECONY
(Millions of Dollars)	2021	2020	2021	2020
Regulatory assets
Unrecognized pension and other postretirement costs	$2,750	$3,241	$2,607	$3,065
Environmental remediation costs	852	865	783	791
Pension and other postretirement benefits deferrals	395	315	344	272
Revenue taxes	373	356	357	342
Property tax reconciliation	246	241	246	239
COVID-19 pandemic deferrals	239	115	234	113
Deferred storm costs	225	195	112	83
MTA power reliability deferral	164	188	164	188
System peak reduction and energy efficiency programs	88	124	88	124
Deferred derivative losses	75	120	69	111
Municipal infrastructure support costs	52	62	52	62
Brooklyn Queens demand management program	35	36	35	36
Meadowlands heater odorization project	31	32	31	32
Preferred stock redemption	21	21	21	21
Non-wire alternative projects	19	18	19	18
Unamortized loss on reacquired debt	18	21	16	19
Recoverable REV demonstration project costs	18	20	16	18
Gate station upgrade project	16	25	16	25
Other	272	200	262	186
Regulatory assets – noncurrent	5,889	6,195	5,472	5,745
Deferred derivative losses	161	190	152	177
Recoverable energy costs	23	76	15	67
Regulatory assets – current	184	266	167	244
Total Regulatory Assets	$6,073	$6,461	$5,639	$5,989
Regulatory liabilities
Future income tax	$2,093	$2,207	$1,949	$2,062
Allowance for cost of removal less salvage	1,092	1,090	931	932
Net unbilled revenue deferrals	175	198	175	198
TCJA net benefits*	209	295	204	286
Net proceeds from sale of property	120	137	120	137
Pension and other postretirement benefit deferrals	94	85	51	46
System benefit charge carrying charge	68	64	61	57
Energy efficiency portfolio standard unencumbered funds	37	1	38	—
Property tax refunds	35	36	35	35
BQDM and REV Demo reconciliations	26	27	23	25
Sales and use tax refunds	19	16	18	16
Earnings sharing - electric, gas and steam	14	15	10	10
Unrecognized other postretirement costs	12	11	—	—
Settlement of gas proceedings	11	21	11	21
Settlement of prudence proceeding	6	5	6	5
Workers' compensation	4	3	4	3
Other	363	302	313	261
Regulatory liabilities – noncurrent	4,378	4,513	3,949	4,094
Deferred derivative gains	155	8	144	7
Refundable energy costs	23	28	4	4
Revenue decoupling mechanism	2	—	—	—
Regulatory liabilities – current	180	36	148	11
Total Regulatory Liabilities	$4,558	$4,549	$4,097	$4,105

* See "Other Regulatory Matters," above.

Schedule of Regulatory Assets Not Earning Return

Regulatory Assets Not Earning a Return*

	Con Edison		CECONY
(Millions of Dollars)	2021	2020	2021	2020
Unrecognized pension and other postretirement costs	$2,750	$3,241	$2,607	$3,065
Environmental remediation costs	839	855	770	781
Revenue taxes	353	336	339	323
Deferred derivative losses - long term	75	120	69	111
Other	46	24	46	24
Deferred derivative losses - current	161	190	152	177
Total	$4,224	$4,766	$3,983	$4,481

*This table includes regulatory assets not earning a return for which no cash outlay has been made.