Current Expected Credit Losses

12 Months Ended

Dec. 31, 2024

Credit Loss [Abstract]

Current Expected Credit Losses

Current Expected Credit Losses

Allowance for Uncollectible Accounts

The Utilities’ “Account receivable – customers” balance consists of utility bills due (bills are generally due the month following billing) from customers who have energy delivered, generated, or services provided by the Utilities. The balance also reflects the Utilities’ purchase of receivables from energy service companies to support the retail choice programs.

The “Other receivables” balance generally reflects costs billed by the Utilities for goods and services provided to external parties, such as accommodation work for private parties and certain governmental entities, real estate rental and pole attachments.

On March 1, 2023, Con Edison completed the sale of all of the stock of the Clean Energy Businesses. See Note W and Note X. The Clean Energy Businesses’ customer accounts receivable balance generally reflected the management of energy supply assets, energy-efficiency services to government and commercial customers, and the engineering, procurement, and construction services of renewable energy projects. The Clean Energy Businesses calculated an allowance for uncollectible accounts related to their energy services customers based on an aging and customer-specific analysis. The amount of such reserves was not material at December 31, 2022. The Clean Energy Businesses were classified as held for sale as of December 31, 2022.

The Companies develop expected loss estimates using past events data and consider current conditions and future reasonable and supportable forecasts. Changes to the Utilities’ reserve balances that result in write-offs of customer accounts receivable balances above existing rate allowances are not reflected in rates during the term of the current rate plans. For the Utilities’ allowance for uncollectible accounts for customer accounts receivable, which includes accrued unbilled revenue, past events considered include write-offs relative to customer accounts receivable; current conditions include macro-and micro-economic conditions related to trends in the local economy, bankruptcy rates and current and aged customer accounts receivable balances, including final balances, among other factors; and forecasts about the future include assumptions related to the level of write-offs and recoveries. During 2024, Con Edison's and CECONY's allowances for uncollectible accounts increased to $620 million and $605 million, respectively. Generally, the Utilities write off customer accounts receivable as uncollectible 90 days after the account is disconnected for non-payment, or the account is closed during the collection process.

Other receivables allowance for uncollectible accounts is calculated based on a historical average of collections relative to total other receivables, including current receivables. Current macro- and micro-economic conditions are also considered when calculating the current reserve. Probable outcomes of pending litigation, whether favorable or unfavorable to the Companies, are also included in the consideration.

Customer accounts receivable and the associated allowance for uncollectible accounts are included in the line “Accounts receivable – customers” on the Companies’ consolidated balance sheets. Other receivables and the associated allowance for uncollectible accounts are included in “Other receivables” on the consolidated balance sheets.

The table below presents a rollforward by major portfolio segment type for the years ended December 31, 2024, 2023 and 2022:

	For the Year Ended December 31,
	Con Edison						CECONY
	Accounts receivable - customers			Other receivables			Accounts receivable - customers			Other receivables
(Millions of Dollars)	2024	2023	2022	2024	2023	2022	2024	2023	2022	2024	2023	2022
Allowance for credit losses
Beginning Balance at January 1,	$360	$322	$317	$13	$10	$22	$353	$314	$304	$9	$7	$19
Recoveries	21	14	17	—	—	—	17	12	16	—	—	—
Write-offs	(250)	(138)	(103)	—	(5)	(6)	(239)	(131)	(94)	—	(3)	(4)
Reserve adjustments	489	162	91	28	8	(6)	474	158	88	29	5	(8)
Ending Balance December 31,	$620	$360	$322	$41	$13	$10	$605	$353	$314	$38	$9	$7