Regulatory Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2020

The below table provides a summary of the proposed delivery rate increases and delivery rate percentages, including rate levelization and excluding energy efficiency, which is a pass-through, for all four businesses:


	Year 1				Year 2				Year 3
	Rate Increase		Delivery Rate %		Rate Increase		Delivery Rate %		Rate Increase		Delivery Rate %
Utility	(Millions)		Increase		(Millions)		Increase		(Millions)		Increase
NYSEG Electric	$	34.7	4.6	%	$	71.51	9.1	%	$	79.4	9.1	%
NYSEG Gas	$	—	—	%	$	1.58	0.8	%	$	3.3	1.6	%
RG&E Electric	$	10.7	2.4	%	$	22.92	5.2	%	$	25.4	5.2	%
RG&E Gas	$	—	—	%	$	—	—	%	$	2.4	1.3	%

Schedule of Current and Non-Current Regulatory Assets

Regulatory assets as of September 30, 2020 and December 31, 2019, respectively, consisted of:


	September 30,		December 31,
As of	2020		2019
(Millions)
Pension and other post-retirement benefits cost deferrals	$	101	$	125
Pension and other post-retirement benefits	963		1,061
Storm costs	418		272
Rate adjustment mechanism	16		79
Revenue decoupling mechanism	56		19
Transmission revenue reconciliation mechanism	9		5
Contracts for differences	90		92
Hardship programs	26		29
Plant decommissioning	—		5
Deferred purchased gas	14		25
Deferred transmission expense	14		11
Environmental remediation costs	278		277
Debt premium	88		97
Unamortized losses on reacquired debt	27		29
Unfunded future income taxes	408		399
Federal tax depreciation normalization adjustment	149		153
Asset retirement obligation	21		17
Deferred meter replacement costs	25		27
COVID-19 cost recovery	2		—
Other	138		139
Total regulatory assets	2,843		2,861
Less: current portion	252		294
Total non-current regulatory assets	$	2,591	$	2,567

Schedule of Current and Non-Current Regulatory Liabilities

Regulatory liabilities as of September 30, 2020 and December 31, 2019, respectively, consisted of:


	September 30,		December 31,
As of	2020		2019
(Millions)
Energy efficiency portfolio standard	$	72	$	72
Gas supply charge and deferred natural gas cost	4		11
Pension and other post-retirement benefits cost deferrals	69		80
Carrying costs on deferred income tax bonus depreciation	32		49
Carrying costs on deferred income tax - Mixed Services 263(a)	11		15
2017 Tax Act	1,550		1,548
Revenue decoupling mechanism	10		17
Accrued removal obligations	1,181		1,173
Asset sale gain account	10		10
Economic development	27		27
Positive benefit adjustment	35		37
Theoretical reserve flow thru impact	10		14
Deferred property tax	52		17
Net plant reconciliation	23		23
Debt rate reconciliation	83		67
Rate refund – FERC ROE proceeding	33		32
Transmission congestion contracts	24		23
Merger-related rate credits	14		16
Accumulated deferred investment tax credits	26		13
Asset retirement obligation	16		14
Earning sharing provisions	26		28
Middletown/Norwalk local transmission network service collections	18		18
Low income programs	29		33
Non-firm margin sharing credits	15		16
New York 2018 winter storm settlement	11		11
Other	175		159
Total regulatory liabilities	3,556		3,523
Less: current portion	214		242
Total non-current regulatory liabilities	$	3,342	$	3,281