Regulatory Matters (Tables)

9 Months Ended

Sep. 30, 2021

Regulated Operations [Abstract]

Schedule of Regulatory Assets

Regulatory assets and liabilities at September 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	$2,527	$3,241	$2,394	$3,065
Environmental remediation costs	846	865	780	791
Pension and other postretirement benefits deferrals	438	315	382	272
Revenue taxes	385	356	369	342
COVID-19 pandemic deferrals	274	115	269	113
Deferred storm costs	277	195	155	83
Property tax reconciliation	245	241	245	239
MTA power reliability deferral	152	188	152	188
System peak reduction and energy efficiency programs	145	124	145	124
Deferred derivative losses - long term	136	120	124	111
Municipal infrastructure support costs	49	62	49	62
Brooklyn Queens demand management program	35	36	35	36
Meadowlands heater odorization project	30	32	30	32
Preferred stock redemption	20	21	20	21
Non-wire alternative projects	23	18	23	18
Unamortized loss on reacquired debt	17	21	15	19
Recoverable REV demonstration project costs	15	20	14	18
Gate station upgrade project	15	25	15	25
Other	274	200	257	186
Regulatory assets – noncurrent	5,903	6,195	5,473	5,745
Deferred derivative losses - short term	166	190	155	177
Recoverable energy costs	39	76	32	67
Regulatory assets – current	205	266	187	244
Total Regulatory Assets	$6,108	$6,461	$5,660	$5,989
Regulatory liabilities
Future income tax	$2,040	$2,207	$1,896	$2,062
Allowance for cost of removal less salvage	1,114	1,090	950	932
Net unbilled revenue deferrals	184	198	184	198
TCJA net benefits*	167	295	164	286
Net proceeds from sale of property	111	137	111	137
Deferred derivative gains - long term	110	5	101	4
Pension and other postretirement benefit deferrals	98	85	53	46
System benefit charge carrying charge	71	64	63	57
Property tax refunds	35	36	35	35
BQDM and REV Demo reconciliations	26	27	22	25
Sales and use tax refunds	18	16	17	16
Energy efficiency portfolio standard unencumbered funds	17	1	19	—
Earnings sharing - electric, gas and steam	13	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	5	3	5	3
Other	341	297	294	257
Regulatory liabilities – noncurrent	4,379	4,513	3,941	4,094
Deferred derivative gains - short term	451	8	423	7
Refundable energy costs	31	28	5	4
Revenue decoupling mechanism	8	—	—	—
Regulatory liabilities – current	490	36	428	11
Total Regulatory Liabilities	$4,869	$4,549	$4,369	$4,105

* See "Other Regulatory Matters," above.

Schedule of Regulatory Liabilities

Regulatory assets and liabilities at September 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	$2,527	$3,241	$2,394	$3,065
Environmental remediation costs	846	865	780	791
Pension and other postretirement benefits deferrals	438	315	382	272
Revenue taxes	385	356	369	342
COVID-19 pandemic deferrals	274	115	269	113
Deferred storm costs	277	195	155	83
Property tax reconciliation	245	241	245	239
MTA power reliability deferral	152	188	152	188
System peak reduction and energy efficiency programs	145	124	145	124
Deferred derivative losses - long term	136	120	124	111
Municipal infrastructure support costs	49	62	49	62
Brooklyn Queens demand management program	35	36	35	36
Meadowlands heater odorization project	30	32	30	32
Preferred stock redemption	20	21	20	21
Non-wire alternative projects	23	18	23	18
Unamortized loss on reacquired debt	17	21	15	19
Recoverable REV demonstration project costs	15	20	14	18
Gate station upgrade project	15	25	15	25
Other	274	200	257	186
Regulatory assets – noncurrent	5,903	6,195	5,473	5,745
Deferred derivative losses - short term	166	190	155	177
Recoverable energy costs	39	76	32	67
Regulatory assets – current	205	266	187	244
Total Regulatory Assets	$6,108	$6,461	$5,660	$5,989
Regulatory liabilities
Future income tax	$2,040	$2,207	$1,896	$2,062
Allowance for cost of removal less salvage	1,114	1,090	950	932
Net unbilled revenue deferrals	184	198	184	198
TCJA net benefits*	167	295	164	286
Net proceeds from sale of property	111	137	111	137
Deferred derivative gains - long term	110	5	101	4
Pension and other postretirement benefit deferrals	98	85	53	46
System benefit charge carrying charge	71	64	63	57
Property tax refunds	35	36	35	35
BQDM and REV Demo reconciliations	26	27	22	25
Sales and use tax refunds	18	16	17	16
Energy efficiency portfolio standard unencumbered funds	17	1	19	—
Earnings sharing - electric, gas and steam	13	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	5	3	5	3
Other	341	297	294	257
Regulatory liabilities – noncurrent	4,379	4,513	3,941	4,094
Deferred derivative gains - short term	451	8	423	7
Refundable energy costs	31	28	5	4
Revenue decoupling mechanism	8	—	—	—
Regulatory liabilities – current	490	36	428	11
Total Regulatory Liabilities	$4,869	$4,549	$4,369	$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	$2,527	$3,241	$2,394	$3,065
Environmental remediation costs	832	855	765	781
Revenue taxes	364	336	349	323
Deferred derivative losses - long term	136	120	124	111
Other	56	24	56	24
Deferred derivative losses - current	166	190	155	177
Total	$4,081	$4,766	$3,843	$4,481

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