Short-Term Borrowing

9 Months Ended

Sep. 30, 2018

Debt Disclosure [Abstract]

Short-Term Borrowing

Short-Term Borrowing

At September 30, 2018, Con Edison had $1,352 million of commercial paper outstanding of which $1,004 million was outstanding under CECONY’s program. The weighted average interest rate at September 30, 2018 was 2.3 percent for both Con Edison and CECONY. At December 31, 2017, Con Edison had $577 million of commercial paper outstanding of which $150 million was outstanding under CECONY’s program. The weighted average interest rate at December 31, 2017 was 1.8 percent for both Con Edison and CECONY.

At September 30, 2018 and December 31, 2017, no loans were outstanding under the credit agreement (Credit Agreement). An immaterial amount of letters of credit were outstanding under the Credit Agreement as of September 30, 2018 and December 31, 2017.