10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

x Quarterly Report Pursuant To Section 13 or 15(d) of the Securities Exchange Act of 1934

FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2013

OR

¨ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the transition period from                      to                     

Commission File Number	Exact name of registrant as specified in its charter and principal office address and telephone number	State of Incorporation	I.R.S. Employer ID. Number
1-14514	Consolidated Edison, Inc.	New York	13-3965100
	4 Irving Place, New York, New York 10003
	(212) 460-4600
1-1217	Consolidated Edison Company of New York, Inc.	New York	13-5009340
	4 Irving Place, New York, New York 10003
	(212) 460-4600

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Consolidated Edison, Inc. (Con Edison)	Yes x	No ¨
Consolidated Edison of New York, Inc. (CECONY)	Yes x	No ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Con Edison	Yes x	No ¨
CECONY	Yes x	No ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer”, “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Con Edison
Large accelerated filer x	Accelerated filer ¨	Non-accelerated filer ¨	Smaller reporting company ¨
CECONY
Large accelerated filer ¨	Accelerated filer ¨	Non-accelerated filer x	Smaller reporting company ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Con Edison	Yes ¨	No x
CECONY	Yes ¨	No x

As of October 30, 2013, Con Edison had outstanding 292,888,192 Common Shares ($.10 par value). All of the outstanding common equity of CECONY is held by Con Edison.

Filing Format

This Quarterly Report on Form 10-Q is a combined report being filed separately by two different registrants: Consolidated Edison, Inc. (Con Edison) and Consolidated Edison Company of New York, Inc. (CECONY). CECONY is a subsidiary of Con Edison and, as such, the information in this report about CECONY also applies to Con Edison. As used in this report, the term the “Companies” refers to Con Edison and CECONY. However, CECONY makes no representation as to the information contained in this report relating to Con Edison or the subsidiaries of Con Edison other than itself.

Glossary of Terms

The following is a glossary of frequently used abbreviations or acronyms that are used in the Companies’ SEC reports:

Con Edison Companies
Con Edison	Consolidated Edison, Inc.
CECONY	Consolidated Edison Company of New York, Inc.
Con Edison Development	Consolidated Edison Development, Inc.
Con Edison Energy	Consolidated Edison Energy, Inc.
Con Edison Solutions	Consolidated Edison Solutions, Inc.
O&R	Orange and Rockland Utilities, Inc.
Pike	Pike County Light & Power Company
RECO	Rockland Electric Company
The Companies	Con Edison and CECONY
The Utilities	CECONY and O&R
Regulatory Agencies, Government Agencies, and Quasi-governmental Not-for-Profits
EPA	U. S. Environmental Protection Agency
FERC	Federal Energy Regulatory Commission
IRS	Internal Revenue Service
ISO-NE	ISO New England Inc.
NJBPU	New Jersey Board of Public Utilities
NJDEP	New Jersey Department of Environmental Protection
NYISO	New York Independent System Operator
NYPA	New York Power Authority
NYSAG	New York State Attorney General
NYSDEC	New York State Department of Environmental Conservation
NYSERDA	New York State Energy Research and Development Authority
NYSPSC	New York State Public Service Commission
NYSRC	New York State Reliability Council, LLC
PAPUC	Pennsylvania Public Utility Commission
PJM	PJM Interconnection LLC
SEC	U.S. Securities and Exchange Commission
Accounting
ABO	Accumulated Benefit Obligation
ASU	Accounting Standards Update
FASB	Financial Accounting Standards Board
LILO	Lease In/Lease Out
OCI	Other Comprehensive Income
SFAS	Statement of Financial Accounting Standards
VIE	Variable interest entity
Environmental
CO2	Carbon dioxide
GHG	Greenhouse gases
MGP Sites	Manufactured gas plant sites
PCBs	Polychlorinated biphenyls
PRP	Potentially responsible party
SO2	Sulfur dioxide
Superfund	Federal Comprehensive Environmental Response, Compensation and Liability Act of 1980 and similar state statutes

2

Units of Measure
AC	Alternating current
dths	Dekatherms
kV	Kilovolt
kWh	Kilowatt-hour
mdths	Thousand dekatherms
MMlbs	Million pounds
MVA	Megavolt ampere
MW	Megawatt or thousand kilowatts
MWH	Megawatt hour
Other
AFDC	Allowance for funds used during construction
COSO	Committee of Sponsoring Organizations of the Treadway Commission
EMF	Electric and magnetic fields
ERRP	East River Repowering Project
Fitch	Fitch Ratings
First Quarter Form 10-Q	The Companies’ combined Quarterly Report on Form 10-Q for the quarterly period ended March 31 of the current year
Form 10-K	The Companies’ combined Annual Report on Form 10-K for the year ended December 31, 2012
LTIP	Long Term Incentive Plan
Moody’s	Moody’s Investors Service
S&P	Standard & Poor’s Financial Services LLC
Second Quarter Form 10-Q	The Companies’ combined Quarterly Report on Form 10-Q for the quarterly period ended June 30 of the current year
Third Quarter Form 10-Q	The Companies’ combined Quarterly Report on Form 10-Q for the quarterly period ended September 30 of the current year
VaR	Value-at-Risk

3

TABLE OF CONTENTS

		PAGE
PART I—Financial Information
ITEM 1	Financial Statements (Unaudited)
	Con Edison
	Consolidated Income Statement		6
	Consolidated Statement of Comprehensive Income		7
	Consolidated Statement of Cash Flows		8
	Consolidated Balance Sheet		9
	Consolidated Statement of Common Shareholders’ Equity		11
	CECONY
	Consolidated Income Statement		12
	Consolidated Statement of Comprehensive Income		13
	Consolidated Statement of Cash Flows		14
	Consolidated Balance Sheet		15
	Consolidated Statement of Common Shareholder’s Equity		17
	Notes to Financial Statements (Unaudited)		18
ITEM 2	Management’s Discussion and Analysis of Financial Condition and Results of Operations		48
ITEM 3	Quantitative and Qualitative Disclosures About Market Risk		80
ITEM 4	Controls and Procedures		80
PART II—Other Information
ITEM 1	Legal Proceedings		81
ITEM 1A	Risk Factors		81
ITEM 2	Unregistered Sales of Equity Securities and Use of Proceeds		82
ITEM 6	Exhibits		83
	Signatures		85

4

FORWARD-LOOKING STATEMENTS

This report includes forward-looking statements intended to qualify for the safe-harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are statements of future expectation and not facts. Words such as “expects,” “estimates,” “anticipates,” “intends,” “believes,” “plans,” “will” and similar expressions identify forward-looking statements. Forward-looking statements are based on information available at the time the statements are made, and accordingly speak only as of that time. Actual results or developments might differ materially from those included in the forward-looking statements because of various risks, including:

• the failure to operate energy facilities safely and reliably could adversely affect the Companies;

• the failure to properly complete construction projects could adversely affect the Companies;

• the failure of processes and systems and the performance of employees and contractors could adversely affect the Companies;

• the Companies are extensively regulated and are subject to penalties;

• the Utilities’ rate plans may not provide a reasonable return;

• the Companies may be adversely affected by changes to the Utilities’ rate plans;

• the Companies are exposed to risks from the environmental consequences of their operations;

• a disruption in the wholesale energy markets or failure by an energy supplier could adversely affect the Companies;

• the Companies have substantial unfunded pension and other postretirement benefit liabilities;

• Con Edison’s ability to pay dividends or interest depends on dividends from its subsidiaries;

• the Companies require access to capital markets to satisfy funding requirements;

• a cyber attack could adversely affect the Companies; and

• the Companies also face other risks that are beyond their control.

5

Consolidated Edison, Inc.

CONSOLIDATED INCOME STATEMENT (UNAUDITED)

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2013			2012			2013			2012
	(Millions of Dollars/Except Share Data)
OPERATING REVENUES
Electric	$	2,822		$	2,810		$	6,799		$	6,762
Gas		225			216			1,333			1,161
Steam		72			68			522			414
Non-utility		365			344			833			950
TOTAL OPERATING REVENUES		3,484			3,438			9,487			9,287
OPERATING EXPENSES
Purchased power		946			930			2,421			2,440
Fuel		56			59			261			213
Gas purchased for resale		74			56			443			314
Other operations and maintenance		795			826			2,400			2,365
Depreciation and amortization		258			240			764			709
Taxes, other than income taxes		500			476			1,431			1,360
TOTAL OPERATING EXPENSES		2,629			2,587			7,720			7,401
OPERATING INCOME		855			851			1,767			1,886
OTHER INCOME (DEDUCTIONS)
Investment and other income		8			4			19			14
Allowance for equity funds used during construction		1			1			2			3
Other deductions		(4	)		(3	)		(12	)		(13	)
TOTAL OTHER INCOME (DEDUCTIONS)		5			2			9			4
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE		860			853			1,776			1,890
INTEREST EXPENSE
Interest on long-term debt		145			146			433			440
Other interest		2			6			143			17
Allowance for borrowed funds used during construction		(1	)		—			(1	)		(2	)
NET INTEREST EXPENSE		146			152			575			455
INCOME BEFORE INCOME TAX EXPENSE		714			701			1,201			1,435
INCOME TAX EXPENSE		250			261			373			501
NET INCOME		464			440			828			934
Preferred stock dividend requirements of subsidiary		—			—			—			(3	)
NET INCOME FOR COMMON STOCK	$	464		$	440		$	828		$	931
Net income for common stock per common share—basic	$	1.58		$	1.50		$	2.83		$	3.18
Net income for common stock per common share—diluted	$	1.58		$	1.49		$	2.81		$	3.16
DIVIDENDS DECLARED PER SHARE OF COMMON STOCK	$	0.615		$	0.605		$	1.845		$	1.815
AVERAGE NUMBER OF SHARES OUTSTANDING—BASIC (IN MILLIONS)		292.9			292.9			292.9			292.9
AVERAGE NUMBER OF SHARES OUTSTANDING—DILUTED (IN MILLIONS)		294.3			294.6			294.3			294.6

The accompanying notes are an integral part of these financial statements.

6

Consolidated Edison, Inc.

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (UNAUDITED)

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2013		2012		2013		2012
	(Millions of Dollars)
NET INCOME		$464		$440		$828		$934
OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAXES
Pension plan liability adjustments, net of $1 and $4 in 2013 and $1 and $5 taxes in 2012, respectively		2		2		7		8
TOTAL OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAXES		2		2		7		8
COMPREHENSIVE INCOME		466		442		835		942
Preferred stock dividend requirements of subsidiary		—		—		—		(3	)
COMPREHENSIVE INCOME FOR COMMON STOCK		$466		$442		$835		$939

The accompanying notes are an integral part of these financial statements.

7

Consolidated Edison, Inc.

CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED)

	For the Nine Months Ended September 30,
	2013			2012
	(Millions of Dollars)
OPERATING ACTIVITIES
Net Income	$	828		$	934
PRINCIPAL NON-CASH CHARGES/(CREDITS) TO INCOME
Depreciation and amortization		764			709
Deferred income taxes		116			344
Rate case amortization and accruals		1			32
Common equity component of allowance for funds used during construction		(2	)		(3	)
Net derivative (gains)/losses		(6	)		(61	)
Pre-tax gains on the termination of LILO transactions		(95	)		—
Other non-cash items (net)		46			(53	)
CHANGES IN ASSETS AND LIABILITIES
Accounts receivable – customers, less allowance for uncollectibles		(51	)		(196	)
Special deposits		(305	)		—
Materials and supplies, including fuel oil and gas in storage		(38	)		1
Other receivables and other current assets		(8	)		54
Prepayments		(362	)		(288	)
Accounts payable		(193	)		18
Pensions and retiree benefits obligations		665			713
Pensions and retiree benefits contributions		(887	)		(821	)
Accrued taxes		217			(80	)
Accrued interest		171			46
Superfund and environmental remediation costs (net)		(6	)		7
Deferred charges, noncurrent assets and other regulatory assets		(6	)		183
Deferred credits and other regulatory liabilities		291			83
Other assets		51			—
Other liabilities		47			16
NET CASH FLOWS FROM OPERATING ACTIVITIES		1,238			1,638
INVESTING ACTIVITIES
Utility construction expenditures		(1,701	)		(1,450	)
Cost of removal less salvage		(144	)		(118	)
Non-utility construction expenditures		(149	)		(68	)
Investments in solar energy projects		(174	)		(258	)
Proceeds from grants related to solar energy projects		88			27
Increase in restricted cash		(15	)		—
Proceeds from the termination of LILO transactions		200			—
NET CASH FLOWS USED IN INVESTING ACTIVITIES		(1,895	)		(1,867	)
FINANCING ACTIVITIES
Net proceeds of short-term debt		681			340
Preferred stock redemption		—			(239	)
Issuance of long-term debt		919			400
Retirement of long-term debt		(707	)		(304	)
Issuance of common shares for stock plans, net of repurchases		(4	)		(16	)
Debt issuance costs		(12	)		(4	)
Common stock dividends		(540	)		(524	)
Preferred stock dividends		—			(3	)
NET CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES		337			(350	)
CASH AND TEMPORARY CASH INVESTMENTS:
NET CHANGE FOR THE PERIOD		(320	)		(579	)
BALANCE AT BEGINNING OF PERIOD		394			648
BALANCE AT END OF PERIOD	$	74		$	69
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid during the period for:
Interest	$	372		$	379
Income taxes	$	27		$	46

The accompanying notes are an integral part of these financial statements.

8

Consolidated Edison, Inc.

CONSOLIDATED BALANCE SHEET (UNAUDITED)

	September 30, 2013		December 31, 2012
	(Millions of Dollars)
ASSETS
CURRENT ASSETS
Cash and temporary cash investments	$	74	$	394
Special deposits		375		70
Accounts receivable – customers, less allowance for uncollectible accounts of $95 and $94 in 2013 and 2012, respectively		1,273		1,222
Accrued unbilled revenue		425		516
Other receivables, less allowance for uncollectible accounts of $8 and $10 in 2013 and 2012, respectively		257		228
Fuel oil, gas in storage, materials and supplies, at average cost		368		330
Prepayments		521		159
Deferred tax assets – current		186		296
Regulatory assets		46		74
Other current assets		179		162
TOTAL CURRENT ASSETS		3,704		3,451
INVESTMENTS		444		467
UTILITY PLANT, AT ORIGINAL COST
Electric		23,041		22,376
Gas		5,388		5,120
Steam		2,117		2,049
General		2,301		2,302
TOTAL		32,847		31,847
Less: Accumulated depreciation		6,952		6,573
Net		25,895		25,274
Construction work in progress		1,450		1,027
NET UTILITY PLANT		27,345		26,301
NON-UTILITY PLANT
Non-utility property, less accumulated depreciation of $84 and $68 in 2013 and 2012, respectively		581		555
Construction work in progress		29		83
NET PLANT		27,955		26,939
OTHER NONCURRENT ASSETS
Goodwill		429		429
Intangible assets, less accumulated amortization of $4 in 2013 and 2012		4		2
Regulatory assets		9,190		9,705
Other deferred charges and noncurrent assets		238		216
TOTAL OTHER NONCURRENT ASSETS		9,861		10,352
TOTAL ASSETS	$	41,964	$	41,209

The accompanying notes are an integral part of these financial statements.

9

Consolidated Edison, Inc.

CONSOLIDATED BALANCE SHEET (UNAUDITED)

	September 30, 2013		December 31, 2012
	(Millions of Dollars)
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES
Long-term debt due within one year	$	483	$	706
Notes payable		1,220		539
Accounts payable		925		1,215
Customer deposits		316		304
Accrued taxes		379		162
Accrued interest		324		153
Accrued wages		93		94
Fair value of derivative liabilities		25		47
Regulatory liabilities		117		183
Uncertain income tax liabilities		—		44
Other current liabilities		491		498
TOTAL CURRENT LIABILITIES		4,373		3,945
NONCURRENT LIABILITIES
Obligations under capital leases		2		2
Provision for injuries and damages		195		149
Pensions and retiree benefits		3,816		4,678
Superfund and other environmental costs		512		545
Asset retirement obligations		164		159
Fair value of derivative liabilities		29		31
Uncertain income tax liabilities		8		—
Other noncurrent liabilities		120		125
TOTAL NONCURRENT LIABILITIES		4,846		5,689
DEFERRED CREDITS AND REGULATORY LIABILITIES
Deferred income taxes and investment tax credits		8,481		8,372
Regulatory liabilities		1,557		1,202
Other deferred credits		48		70
TOTAL DEFERRED CREDITS AND REGULATORY LIABILITIES		10,086		9,644
LONG-TERM DEBT		10,493		10,062
COMMON SHAREHOLDERS’ EQUITY (See Statement of Common Shareholders’ Equity)		12,166		11,869
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	41,964	$	41,209

The accompanying notes are an integral part of these financial statements.

10

Consolidated Edison, Inc.

CONSOLIDATED STATEMENT OF COMMON SHAREHOLDERS’ EQUITY (UNAUDITED)

	Common Stock					Additional Paid-In Capital			Retained Earnings			Treasury Stock						Capital Stock Expense			Accumulated Other Comprehensive Income/(Loss)
(Millions of Dollars/Except Share Data)	Shares			Amount								Shares			Amount									Total
BALANCE AS OF DECEMBER 31, 2011		292,888,521		$	32	$	4,991		$	7,568			23,194,075			$(1,033	)		$(64	)		$(58	)		$11,436
Net income for common stock										277															277
Common stock dividends										(177	)														(177	)
Issuance of common shares for stock plans, net of repurchases		(7,225	)										7,225			(2	)								(2	)
Preferred stock redemption																			4						4
Other comprehensive income																						7			7
BALANCE AS OF MARCH 31, 2012		292,881,296		$	32	$	4,991		$	7,668			23,201,300			$(1,035	)		$(60	)		$(51	)		$11,545
Net income for common stock										214															214
Common stock dividends										(178	)														(178	)
Issuance of common shares for stock plans, net of repurchases		1,700											(1,700	)					(1	)					(1	)
Other comprehensive loss																						(1	)		(1	)
BALANCE AS OF JUNE 30, 2012		292,882,996		$	32	$	4,991		$	7,704			23,199,600			$(1,035	)		$(61	)		$(52	)		$11,579
Net income for common stock										440															440
Common stock dividends										(177	)														(177	)
Issuance of common shares for stock plans, net of repurchases		(11,100	)										11,100			(2	)								(2	)
Other comprehensive income																						2			2
BALANCE AS OF SEPTEMBER 30, 2012		292,871,896		$	32	$	4,991		$	7,967			23,210,700			$(1,037	)		$(61	)		$(50	)		$11,842
BALANCE AS OF DECEMBER 31, 2012		292,871,896		$	32	$	4,991		$	7,997			23,210,700			$(1,037	)		$(61	)		$(53	)		$11,869
Net income for common stock										192															192
Common stock dividends										(180	)														(180	)
Issuance of common shares for stock plans, net of repurchases		95,468					(2	)					(95,468	)		7									5
Other comprehensive income																						3			3
BALANCE AS OF MARCH 31, 2013		292,967,364		$	32	$	4,989		$	8,009			23,115,232			$(1,030	)		$(61	)		$(50	)		$11,889
Net income for common stock										172															172
Common stock dividends										(180	)														(180	)
Issuance of common shares for stock plans, net of repurchases		(4,078	)				1						4,078			(1	)								—
Other comprehensive income																						2			2
BALANCE AS OF JUNE 30, 2013		292,963,286		$	32	$	4,990		$	8,001			23,119,310			$(1,031	)		$(61	)		$(48	)		$11,883
Net income for common stock										464															464
Common stock dividends										(180	)														(180	)
Issuance of common shares for stock plans, net of repurchases		(34,931	)										34,931			(3	)								(3	)
Other comprehensive income																						2			2
BALANCE AS OF SEPTEMBER 30, 2013		292,928,355		$	32	$	4,990		$	8,285			23,154,241			$(1,034	)		$(61	)		$(46	)		$12,166

The accompanying notes are an integral part of these financial statements.

11

Consolidated Edison Company of New York, Inc.

CONSOLIDATED INCOME STATEMENT (UNAUDITED)

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2013			2012			2013			2012
	(Millions of Dollars)
OPERATING REVENUES
Electric	$	2,622		$	2,611		$	6,309		$	6,307
Gas		199			189			1,190			1,017
Steam		72			68			522			414
TOTAL OPERATING REVENUES		2,893			2,868			8,021			7,738
OPERATING EXPENSES
Purchased power		624			604			1,548			1,554
Fuel		56			59			261			213
Gas purchased for resale		58			45			376			264
Other operations and maintenance		686			725			2,102			2,065
Depreciation and amortization		237			225			705			664
Taxes, other than income taxes		480			456			1,370			1,300
TOTAL OPERATING EXPENSES		2,141			2,114			6,362			6,060
OPERATING INCOME		752			754			1,659			1,678
OTHER INCOME (DEDUCTIONS)
Investment and other income		1			2			7			6
Allowance for equity funds used during construction		1			—			1			2
Other deductions		(3	)		(2	)		(10	)		(10	)
TOTAL OTHER INCOME (DEDUCTIONS)		(1	)		—			(2	)		(2	)
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE		751			754			1,657			1,676
INTEREST EXPENSE
Interest on long-term debt		127			130			384			395
Other interest		1			8			12			19
Allowance for borrowed funds used during construction		—			—			(1	)		(1	)
NET INTEREST EXPENSE		128			138			395			413
INCOME BEFORE INCOME TAX EXPENSE		623			616			1,262			1,263
INCOME TAX EXPENSE		222			227			431			436
NET INCOME		401			389			831			827
Preferred stock dividend requirements		—			—			—			(3	)
NET INCOME FOR COMMON STOCK	$	401		$	389		$	831		$	824

The accompanying notes are an integral part of these financial statements.

12

Consolidated Edison Company of New York, Inc.

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (UNAUDITED)

	For the Three Month Ended September 30,				For the Nine Months Ended September 30,
	2013		2012		2013		2012
	(Millions of Dollars)
NET INCOME	$	401	$	389	$	831	$	827
OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAXES
Pension plan liability adjustments, net of $(1) taxes in 2012		—		—		—		(2	)
TOTAL OTHER COMPREHENSIVE INCOME, NET OF TAXES		—		—		—		(2	)
COMPREHENSIVE INCOME	$	401	$	389	$	831	$	825

The accompanying notes are an integral part of these financial statements.

13

Consolidated Edison Company of New York, Inc.

CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED)

	For the Nine Months Ended September 30,
	2013			2012
	(Millions of Dollars)
OPERATING ACTIVITIES
Net income	$	831		$	827
PRINCIPAL NON-CASH CHARGES/(CREDITS) TO INCOME
Depreciation and amortization		705			664
Deferred income taxes		364			220
Rate case amortization and accruals		1			32
Common equity component of allowance for funds used during construction		(1	)		(2	)
Other non-cash items (net)		(72	)		84
CHANGES IN ASSETS AND LIABILITIES
Accounts receivable—customers, less allowance for uncollectibles		(39	)		(197	)
Materials and supplies, including fuel oil and gas in storage		(26	)		12
Other receivables and other current assets		(27	)		(41	)
Prepayments		(347	)		(308	)
Accounts payable		(180	)		50
Pensions and retiree benefits obligations		616			639
Pensions and retiree benefits contributions		(830	)		(761	)
Superfund and environmental remediation costs (net)		(6	)		7
Accrued taxes		(92	)		40
Accrued interest		43			46
Deferred charges, noncurrent assets and other regulatory assets		63			84
Deferred credits and other regulatory liabilities		302			88
Other liabilities		64			(21	)
NET CASH FLOWS FROM OPERATING ACTIVITIES		1,369			1,463
INVESTING ACTIVITIES
Utility construction expenditures		(1,614	)		(1,368	)
Cost of removal less salvage		(139	)		(115	)
NET CASH FLOWS USED IN INVESTING ACTIVITIES		(1,753	)		(1,483	)
FINANCING ACTIVITIES
Net proceeds of short-term debt		621			332
Preferred stock redemption		—			(239	)
Issuance of long-term debt		700			400
Retirement of long-term debt		(700	)		(300	)
Debt issuance costs		(7	)		(4	)
Dividend to parent		(545	)		(512	)
Preferred stock dividends		—			(3	)
NET CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES		69			(326	)
CASH AND TEMPORARY CASH INVESTMENTS:
NET CHANGE FOR THE PERIOD		(315	)		(346	)
BALANCE AT BEGINNING OF PERIOD		353			372
BALANCE AT END OF PERIOD	$	38		$	26
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid during the period for:
Interest	$	336		$	344
Income taxes	$	117		$	50

The accompanying notes are an integral part of these financial statements.

14

Consolidated Edison Company of New York, Inc.

CONSOLIDATED BALANCE SHEET (UNAUDITED)

	September 30, 2013		December 31, 2012
	(Millions of Dollars)
ASSETS
CURRENT ASSETS
Cash and temporary cash investments	$	38	$	353
Special deposits		86		65
Accounts receivable – customers, less allowance for uncollectible accounts of $89 and $87 in 2013 and 2012, respectively		1,147		1,108
Other receivables, less allowance for uncollectible accounts of $6 and $9 in 2013 and 2012, respectively		142		106
Accrued unbilled revenue		329		406
Accounts receivable from affiliated companies		35		61
Fuel oil, gas in storage, materials and supplies, at average cost		311		285
Prepayments		428		81
Regulatory assets		42		60
Deferred tax assets – current		123		193
Other current assets		60		69
TOTAL CURRENT ASSETS		2,741		2,787
INVESTMENTS		231		207
UTILITY PLANT AT ORIGINAL COST
Electric		21,680		21,079
Gas		4,794		4,547
Steam		2,117		2,049
General		2,123		2,126
TOTAL		30,714		29,801
Less: Accumulated depreciation		6,357		6,009
Net		24,357		23,792
Construction work in progress		1,373		947
NET UTILITY PLANT		25,730		24,739
NON-UTILITY PROPERTY
Non-utility property, less accumulated depreciation of $25 in 2013 and 2012		5		6
NET PLANT		25,735		24,745
OTHER NONCURRENT ASSETS
Regulatory assets		8,497		8,972
Other deferred charges and noncurrent assets		171		174
TOTAL OTHER NONCURRENT ASSETS		8,668		9,146
TOTAL ASSETS	$	37,375	$	36,885

The accompanying notes are an integral part of these financial statements.

15

Consolidated Edison Company of New York, Inc.

CONSOLIDATED BALANCE SHEET (UNAUDITED)

	September 30, 2013		December 31, 2012
	(Millions of Dollars)
LIABILITIES AND SHAREHOLDER’S EQUITY
CURRENT LIABILITIES
Long-term debt due within one year	$	475	$	700
Notes payable		1,042		421
Accounts payable		737		989
Accounts payable to affiliated companies		16		22
Customer deposits		304		292
Accrued taxes		20		37
Accrued taxes to affiliated companies		140		215
Accrued interest		176		133
Accrued wages		89		84
Fair value of derivative liabilities		19		28
Uncertain income tax liabilities		—		36
Regulatory liabilities		86		145
Other current liabilities		419		410
TOTAL CURRENT LIABILITIES		3,523		3,512
NONCURRENT LIABILITIES
Obligations under capital leases		2		2
Provision for injuries and damages		188		141
Pensions and retiree benefits		3,414		4,220
Superfund and other environmental costs		403		433
Asset retirement obligations		163		158
Fair value of derivative liabilities		7		11
Other noncurrent liabilities		109		115
TOTAL NONCURRENT LIABILITIES		4,286		5,080
DEFERRED CREDITS AND REGULATORY LIABILITIES
Deferred income taxes and investment tax credits		7,888		7,452
Regulatory liabilities		1,431		1,077
Other deferred credits		43		67
TOTAL DEFERRED CREDITS AND REGULATORY LIABILITIES		9,362		8,596
LONG-TERM DEBT		9,366		9,145
COMMON SHAREHOLDER’S EQUITY (See Statement of Common Shareholder’s Equity)		10,838		10,552
TOTAL LIABILITIES AND SHAREHOLDER’S EQUITY	$	37,375	$	36,885

The accompanying notes are an integral part of these financial statements.

16

Consolidated Edison Company of New York, Inc.

CONSOLIDATED STATEMENT OF COMMON SHAREHOLDER’S EQUITY (UNAUDITED)

	Common Stock				Additional Paid-In Capital		Retained Earnings			Repurchased Con Edison Stock			Capital Stock Expense			Accumulated Other Comprehensive Income/(Loss)			Total
(Millions of Dollars/Except Share Data)	Shares		Amount
BALANCE AS OF DECEMBER 31, 2011		235,488,094	$	589	$	4,234	$	6,429		$	(962)		$	(64)		$	(8	)	$	10,218
Net income								276												276
Common stock dividend to parent								(171	)											(171	)
Cumulative preferred dividends								(3	)											(3	)
Preferred stock redemption														4						4
Other comprehensive income																	—			—
BALANCE AS OF MARCH 31, 2012		235,488,094	$	589	$	4,234	$	6,531		$	(962)		$	(60)		$	(8	)	$	10,324
Net income								163												163
Common stock dividend to parent								(171	)											(171	)
Other comprehensive loss																	(2	)		(2	)
BALANCE AS OF JUNE 30, 2012		235,488,094	$	589	$	4,234	$	6,523		$	(962)		$	(60)		$	(10	)	$	10,314
Net income								389												389
Common stock dividend to parent								(171	)											(171	)
Cumulative preferred dividends								—												—
Other comprehensive loss																	—			—
BALANCE AS OF SEPTEMBER 30, 2012		235,488,094	$	589	$	4,234	$	6,741		$	(962)		$	(60)		$	(10	)	$	10,532
BALANCE AS OF DECEMBER 31, 2012		235,488,094	$	589	$	4,234	$	6,761		$	(962)		$	(61)		$	(9	)	$	10,552
Net income								277												277
Common stock dividend to parent								(182	)											(182	)
Other comprehensive income																	—			—
BALANCE AS OF MARCH 31, 2013		235,488,094	$	589	$	4,234	$	6,856		$	(962	)	$	(61	)	$	(9	)	$	10,647
Net income								153												153
Common stock dividend to parent								(182	)											(182	)
Other comprehensive income																	—			—
BALANCE AS OF JUNE 30, 2013	$	235,488,094	$	589	$	4,234	$	6,827		$	(962	)	$	(61	)	$	(9	)	$	10,618
Net income								401												401
Common stock dividend to parent								(181	)											(181	)
Other comprehensive income																	—			—
BALANCE AS OF SEPTEMBER 30, 2013	$	235,488,094	$	589	$	4,234	$	7,047		$	(962	)	$	(61	)	$	(9	)	$	10,838

The accompanying notes are an integral part of these financial statements.

17

NOTES TO THE FINANCIAL STATEMENTS (UNAUDITED)

General

These combined notes accompany and form an integral part of the separate consolidated financial statements of each of the two separate registrants: Consolidated Edison, Inc. and its subsidiaries (Con Edison) and Consolidated Edison Company of New York, Inc. and its subsidiaries (CECONY). CECONY is a subsidiary of Con Edison and as such its financial condition and results of operations and cash flows, which are presented separately in the CECONY consolidated financial statements, are also consolidated, along with those of Con Edison’s other utility subsidiary, Orange and Rockland Utilities, Inc. (O&R), and Con Edison’s competitive energy businesses (discussed below) in Con Edison’s consolidated financial statements. The term “Utilities” is used in these notes to refer to CECONY and O&R.

As used in these notes, the term “Companies” refers to Con Edison and CECONY and, except as otherwise noted, the information in these combined notes relates to each of the Companies. However, CECONY makes no representation as to information relating to Con Edison or the subsidiaries of Con Edison other than itself.

The separate interim consolidated financial statements of each of the Companies are unaudited but, in the opinion of their respective managements, reflect all adjustments (which include only normally recurring adjustments) necessary for a fair presentation of the results for the interim periods presented. The Companies’ separate interim consolidated financial statements should be read together with their separate audited financial statements (including the combined notes thereto) included in Item 8 of their combined Annual Report on Form 10-K for the year ended December 31, 2012 and their separate unaudited financial statements (including the combined notes thereto) included in Part I, Item 1 of their combined Quarterly Reports on Form 10-Q for the quarterly periods ended March 31, 2013 and June 30, 2013.

Con Edison has two regulated utility subsidiaries: CECONY and O&R. CECONY provides electric service and gas service in New York City and Westchester County. The company also provides steam service in parts of Manhattan. O&R, along with its regulated utility subsidiaries, provides electric service in southeastern New York and adjacent areas of northern New Jersey and eastern Pennsylvania and gas service in southeastern New York and adjacent areas of eastern Pennsylvania. Con Edison has the following competitive energy businesses: Consolidated Edison Solutions, Inc. (Con Edison Solutions), a retail energy services company that sells electricity and also offers energy-related services; Consolidated Edison Energy, Inc. (Con Edison Energy), a wholesale energy services company; and Consolidated Edison Development, Inc. (Con Edison Development), a company that develops and participates in infrastructure projects.

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Note A — Summary of Significant Accounting Policies

Reclassifications and Revisions

Prior period amounts have been reclassified where necessary to conform to the current period presentation.

Con Edison’s consolidated statement of cash flows for the six months ended June 30, 2013, incorrectly reduced net cash flows from financing activities and increased net cash flows from operating activities by an amount equal to the $108 million of net cash proceeds from the termination of the 1999 LILO transaction. A revision will be made on Con Edison’s consolidated statement of cash flows for the six months ended June 30, 2013 when the company files its Form 10-Q for the quarterly period ended June 30, 2014. The company does not deem this revision material to its consolidated financial statements for the six months ended June 30, 2013.

Earnings Per Common Share

For the three and nine months ended September 30, 2013 and 2012, basic and diluted earnings per share (EPS) for Con Edison are calculated as follows:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
(Millions of Dollars, except per share amounts/Shares in Millions)	2013		2012		2013		2012
Net income for common stock	$	464	$	440	$	828	$	931
Weighted average common shares outstanding – basic		292.9		292.9		292.9		292.9
Add: Incremental shares attributable to effect of potentially dilutive securities		1.4		1.7		1.4		1.7
Adjusted weighted average common shares outstanding – diluted		294.3		294.6		294.3		294.6
Net income for common stock per common share – basic	$	1.58	$	1.50	$	2.83	$	3.18
Net income for common stock per common share – diluted	$	1.58	$	1.49	$	2.81	$	3.16

The computation of diluted EPS for the three and nine months ended September 30, 2013 and 2012 excludes immaterial amounts of performance share awards which were not included because of their anti-dilutive effect.

Changes in Accumulated Other Comprehensive Income by Component

For the three and nine months ended September 30, 2013, changes to accumulated other comprehensive income (OCI) for Con Edison and CECONY are as follows:

(Millions of Dollars)	Con Edison			CECONY
Accumulated OCI, net of taxes, at December 31, 2012	$	(53	)	$	(9	)
OCI before reclassifications, net of tax of $1 and $- for Con Edison and CECONY, respectively		1			—
Amounts reclassified from accumulated OCI related to pension plan liabilities, net of tax of $1 and $- for Con Edison and CECONY, respectively (a)(b)		2			—
Total OCI, net of taxes, at March 31, 2013	$	3		$	—
Accumulated OCI, net of taxes, at March 31, 2013 (b)	$	(50	)	$	(9	)
OCI before reclassifications		—			—
Amounts reclassified from accumulated OCI related to pension plan liabilities, net of tax of $1 and $- for Con Edison and CECONY, respectively (a)(b)		2			—
Total OCI, net of taxes, at June 30, 2013	$	2		$	—
Accumulated OCI, net of taxes, at June 30, 2013 (b)	$	(48	)	$	(9	)
OCI before reclassifications		—			—
Amounts reclassified from accumulated OCI related to pension plan liabilities, net of tax of $1 and $- for Con Edison and CECONY, respectively (a)(b)		2			—
Total OCI, net of taxes, at September 30, 2013	$	2		$	—
Accumulated OCI, net of taxes, at September 30, 2013 (b)	$	(46	)	$	(9	)

(a) For the portion of unrecognized pension and other postretirement benefit costs relating to the regulated Utilities, costs are recorded into, and amortized out of, regulatory assets instead of OCI. The net actuarial losses and prior service costs recognized during the period are included in the computation of net periodic pension and other postretirement benefit cost. See Notes E and F.

(b) Tax reclassified from accumulated OCI is reported in the income tax expense line item of the income statement.

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Note B — Regulatory Matters

Rate Agreements

CECONY – Electric, Gas and Steam

In January 2013, CECONY filed requests for electric, gas and steam rate changes, effective January 1, 2014. The company requested electric and gas rate increases of $375 million and $25 million, respectively, and a steam rate decrease of $5 million, reflecting, among other things, a return on common equity of 10.35 percent and a common equity ratio of approximately 50 percent. In August 2013, the New York State Public Service Commission (NYSPSC) staff submitted its initial briefs which support decreases in the company’s electric, gas and steam rates of $146 million, $95 million and $10 million, respectively, reflecting, among other things, a return on common equity of 8.7 percent and a common equity ratio of 48 percent. In September 2013, the company submitted its reply briefs supporting increases in its electric, gas and steam rates of $418 million, $27 million and $8 million, respectively, reflecting, among other things, a return on common equity of 10.1 percent and a common equity ratio of approximately 50 percent. In October 2013, the NYSPSC’s Chief Administrative Law Judge appointed a settlement judge to assist in settlement discussions among the parties in these rate proceedings. There is no assurance that there will be a settlement, and any settlement would be subject to NYSPSC approval. Also, in October 2013, the company agreed to extend by one month the date by which the NYSPSC is required to issue a decision on the company’s rate requests, subject to a “make whole” provision that would keep the company and its customers in the same position they would have been absent the extension.

Other Regulatory Matters

In February 2009, the NYSPSC commenced a proceeding to examine the prudence of certain CECONY expenditures following the arrests of employees for accepting illegal payments from a construction contractor. Subsequently, additional employees were arrested for accepting illegal payments from materials suppliers and an engineering firm. The arrested employees were terminated by the company and have pled guilty or been convicted. Pursuant to NYSPSC orders, a portion of the company’s revenues (currently, $249 million, $32 million and $6 million on an annual basis for electric, gas and steam service, respectively) is being collected subject to potential refund to customers. The amount of electric revenues collected subject to refund, which was established in a different proceeding, and the amount of gas and steam revenues collected subject to refund were not established as indicative of the company’s potential liability in this proceeding. At September 30, 2013, the company had collected an estimated $1,318 million from customers subject to potential refund in connection with this proceeding. In January 2013, a NYSPSC consultant reported its estimate, with which the company does not agree, of $208 million of overcharges with respect to a substantial portion of the company’s construction expenditures from January 2000 to January 2009. The company is disputing the consultant’s estimate, including its determinations as to overcharges regarding specific construction expenditures it selected to review and its methodology of extrapolating such determinations over a substantial portion of the construction expenditures

20

during this period. The NYSPSC’s consultant has not reviewed the company’s other expenditures. The company and NYSPSC staff are exploring a settlement in this proceeding. There is no assurance that there will be a settlement, and any settlement would be subject to NYSPSC approval. At September 30, 2013, the company had a $16 million regulatory liability for refund to customers of amounts recovered from vendors, arrested employees and insurers relating to this matter. The company is unable to estimate the amount, if any, by which any refund required by the NYSPSC may exceed this regulatory liability. The company currently estimates that any refund required by the NYSPSC could range in amount from the $16 million regulatory liability up to an amount based on the NYSPSC consultant’s $208 million estimate of overcharges.

In late October 2012, Superstorm Sandy caused extensive damage to the Utilities’ electric distribution system and interrupted service to approximately 1.4 million customers. Superstorm Sandy also damaged CECONY’s steam system and interrupted service to many of its steam customers. As of September 30, 2013, CECONY and O&R incurred response and restoration costs for Superstorm Sandy of $471 million and $92 million, respectively (including capital expenditures of $143 million and $15 million, respectively). Most of the costs that were not capitalized were deferred for recovery as a regulatory asset under the Utilities’ electric rate plans. See “Regulatory Assets and Liabilities,” below. The Utilities’ New York electric rate plans include provisions for revenue decoupling, as a result of which delivery revenues generally are not affected by changes in delivery volumes from levels assumed when rates were approved. The provisions of the Utilities’ New York electric plans that impose penalties for operating performance provide for exceptions for major storms and catastrophic events beyond the control of the companies, including natural disasters such as hurricanes and floods. The NYSPSC is investigating, and the New York State Attorney General investigated, the preparation and performance of the Utilities in connection with Superstorm Sandy and other major storms.

In June 2013, a commission appointed by the Governor of New York issued its final report on utility storm preparation and response. The commission identified deficiencies in the performance of the Utilities and other New York utilities and made recommendations regarding, among other things, preparation and response to flooding; estimation of customer restoration times; reliability of website outage maps; coordination with local governments and providers of other utility services; availability and allocation of staffing and other resources (including the utility industry’s mutual aid process); and communications with affected communities and local officials. The commission’s report also addressed the Long Island Power Authority, energy efficiency programs, utility infrastructure investment and regulatory deficiencies.

In March 2013, the New Jersey Board of Public Utilities established a proceeding to review the prudency of costs incurred by New Jersey utilities, including Rockland Electric Company (RECO, an O&R subsidiary), in response to major storm events in 2011 and 2012. At September 30, 2013, RECO had $28 million of storm costs deferred for recovery as a regulatory asset and had incurred $6 million of capital expenditures related to the storms.

21

Regulatory Assets and Liabilities

Regulatory assets and liabilities at September 30, 2013 and December 31, 2012 were comprised of the following items:

	Con Edison				CECONY
(Millions of Dollars)	2013		2012		2013		2012
Regulatory assets
Unrecognized pension and other postretirement costs		$5,011		$5,677		$4,779		$5,407
Future income tax		2,035		1,922		1,929		1,831
Environmental remediation costs		704		730		591		615
Deferred storm costs		451		432		340		309
Pension and other postretirement benefits deferrals		229		183		201		154
Revenue taxes		191		176		182		170
Surcharge for New York State assessment		119		73		113		68
Net electric deferrals		88		102		88		102
Unamortized loss on reacquired debt		67		74		64		70
Deferred derivative losses – long-term		34		40		13		20
O&R transition bond charges		34		39		—		—
Preferred stock redemption		28		29		28		29
Property tax reconciliation		20		16		—		—
Workers’ compensation		16		19		16		19
Other		163		193		153		178
Regulatory assets – long-term		9,190		9,705		8,497		8,972
Deferred derivative losses – current		45		69		42		60
Recoverable energy costs – current		1		5		—		—
Regulatory assets – current		46		74		42		60
Total Regulatory Assets		$9,236		$9,779		$8,539		$9,032
Regulatory liabilities
Allowance for cost of removal less salvage		$   522		$   503		$   436		$   420
Property tax reconciliation		290		187		290		187
Property tax refunds		130		7		129		6
Net unbilled revenue deferrals		104		136		104		136
Long-term interest rate reconciliation		94		62		94		62
World Trade Center settlement proceeds		62		62		62		62
Carrying charges on T&D net plant – electric and steam		30		31		20		13
Expenditure prudence proceeding		16		14		16		14
Other		309		200		280		177
Regulatory liabilities – long-term		1,557		1,202		1,431		1,077
Refundable energy costs – current		64		82		36		48
Revenue decoupling mechanism		51		72		49		68
Deferred derivative gains – current		2		—		1		—
Electric surcharge offset		—		29		—		29
Regulatory liabilities – current		117		183		86		145
Total Regulatory Liabilities		$1,674		$1,385		$1,517		$1,222

“Deferred storm costs” represent response and restoration costs, other than capital expenditures, in connection with Superstorm Sandy and other major storms that were deferred by the Utilities. See “Other Regulatory Matters,” above.

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Note C — Capitalization

In February 2013, CECONY issued $700 million aggregate principal amount of 3.95 percent 30-year debentures and redeemed at maturity $500 million of 4.875 percent 10-year debentures. In June 2013, CECONY redeemed at maturity $200 million of 3.85 percent 10-year debentures. In April 2013, a Con Edison Development subsidiary issued $219 million aggregate principal amount of 4.78 percent senior notes secured by the company’s California solar energy projects. The notes have a weighted average life of 15 years and final maturity of 2037.

The carrying amounts and fair values of long-term debt are:

(Millions of Dollars)	September 30, 2013				December 31, 2012
Long-Term Debt (including current portion)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Con Edison		$10,976		$12,213		$10,768		$12,935
CECONY		$  9,841		$10,925		$  9,845		$11,751

Fair values of long-term debt have been estimated primarily using available market information. For Con Edison, $11,577 million and $636 million of the fair value of long-term debt at September 30, 2013 are classified as Level 2 and Level 3, respectively. For CECONY, $10,289 million and $636 million of the fair value of long-term debt at September 30, 2013 are classified as Level 2 and Level 3, respectively (see Note L). The $636 million of long-term debt classified as Level 3 is CECONY’s tax-exempt, auction-rate securities for which the market is highly illiquid and there is a lack of observable inputs.

Note D — Short-Term Borrowing

At September 30, 2013, Con Edison had $1,220 million of commercial paper outstanding of which $1,042 million was outstanding under CECONY’s program. The weighted average interest rate was 0.3 percent for both Con Edison and CECONY. At December 31, 2012, Con Edison had $539 million of commercial paper outstanding of which $421 million was outstanding under CECONY’s program. The weighted average interest rate was 0.3 percent for both Con Edison and CECONY. At September 30, 2013 and December 31, 2012, no loans were outstanding under the Companies’ credit agreement and $29 million (including $11 million for CECONY) and $131 million (including $121 million for CECONY) of letters of credit were outstanding, respectively, under the credit agreement. In 2013, the termination date under the credit agreement was extended from October 2016 to October 2017 with respect to lenders with aggregate commitments under the credit agreement of approximately $2.1 billion.

23

Note E — Pension Benefits

Net Periodic Benefit Cost

The components of the Companies’ net periodic benefit costs for the three and nine months ended September 30, 2013 and 2012 were as follows:

	For the Three Months Ended September 30,
	Con Edison						CECONY
(Millions of Dollars)	2013			2012			2013			2012
Service cost – including administrative expenses		$    67			$    59			$    62			$    55
Interest cost on projected benefit obligation		134			137			126			128
Expected return on plan assets		(187	)		(176	)		(178	)		(168	)
Recognition of net actuarial loss		208			177			197			168
Recognition of prior service costs		1			2			1			2
NET PERIODIC BENEFIT COST		$ 223			$ 199			$ 208			$ 185
Amortization of regulatory asset		1			—			1			—
TOTAL PERIODIC BENEFIT COST		$ 224			$ 199			$ 209			$ 185
Cost capitalized		(86	)		(64	)		(78	)		(60	)
Reconciliation to rate level		(31	)		—			(34	)		(1	)
Cost charged to operating expenses		$ 107			$ 135			$   97			$ 124

	For the Nine Months Ended September 30,
	Con Edison						CECONY
(Millions of Dollars)	2013			2012			2013			2012
Service cost – including administrative expenses		$ 200			$ 177			$ 186			$ 165
Interest cost on projected benefit obligation		403			410			377			385
Expected return on plan assets		(563	)		(528	)		(534	)		(503	)
Recognition of net actuarial loss		624			531			591			503
Recognition of prior service costs		4			6			3			4
NET PERIODIC BENEFIT COST		$ 668			$ 596			$ 623			$ 554
Amortization of regulatory asset		2			1			2			1
TOTAL PERIODIC BENEFIT COST		$ 670			$ 597			$ 625			$ 555
Cost capitalized		(256	)		(200	)		(241	)		(186	)
Reconciliation to rate level		(55	)		(37	)		(56	)		(36	)
Cost charged to operating expenses		$ 359			$ 360			$ 328			$ 333

Contributions

The Companies made contributions to the pension plan during 2013 of $867 million (of which $810 million was contributed by CECONY). The Companies’ policy is to fund their accounting cost to the extent tax deductible. During the first nine months of 2013, CECONY also funded $11 million for the non-qualified supplemental plans.

Note F — Other Postretirement Benefits

Net Periodic Benefit Cost

The components of the Companies’ net periodic postretirement benefit costs for the three and nine months ended September 30, 2013 and 2012 were as follows:

	For the Three Months Ended September 30,
	Con Edison						CECONY
(Millions of Dollars)	2013			2012			2013			2012
Service cost		$   6			$   6			$   5			$   5
Interest cost on accumulated other postretirement benefit obligation		13			18			12			16
Expected return on plan assets		(19	)		(21	)		(17	)		(19	)
Recognition of net actuarial loss		16			24			14			22
Recognition of prior service cost		(7	)		(5	)		(6	)		(4	)
NET PERIODIC POSTRETIREMENT BENEFIT COST		$   9			$ 22			$   8			$ 20
Cost capitalized		(3	)		(8	)		(3	)		(7	)
Reconciliation to rate level		14			3			12			3
Cost charged to operating expenses		$ 20			$ 17			$ 17			$ 16

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	For the Nine Months Ended September 30,
	Con Edison						CECONY
(Millions of Dollars)	2013			2012			2013			2012
Service cost		$ 18			$  20			$ 14			$ 15
Interest cost on accumulated other postretirement benefit obligation		40			55			34			48
Expected return on plan assets		(58	)		(64	)		(51	)		(56	)
Recognition of net actuarial loss		48			73			43			65
Recognition of prior service cost		(20	)		(16	)		(17	)		(13	)
Recognition of transition obligation		—			1			—			1
NET PERIODIC POSTRETIREMENT BENEFIT COST		$ 28			$  69			$ 23			$ 60
Cost capitalized		(10	)		(24	)		(9	)		(20	)
Reconciliation to rate level		43			15			37			12
Cost charged to operating expenses		$ 61			$  60			$ 51			$ 52

Contributions

Con Edison made a contribution of $9 million, nearly all of which is for CECONY, to the other postretirement benefit plans in 2013.

Note G — Environmental Matters

Superfund Sites

Hazardous substances, such as asbestos, polychlorinated biphenyls (PCBs) and coal tar, have been used or generated in the course of operations of the Utilities and their predecessors and are present at sites and in facilities and equipment they currently or previously owned, including sites at which gas was manufactured or stored.

The Federal Comprehensive Environmental Response, Compensation and Liability Act of 1980 and similar state statutes (Superfund) impose joint and several liability, regardless of fault, upon generators of hazardous substances for investigation and remediation costs (which include costs of demolition, removal, disposal, storage, replacement, containment, and monitoring) and natural resource damages. Liability under these laws can be material and may be imposed for contamination from past acts, even though such past acts may have been lawful at the time they occurred. The sites at which the Utilities have been asserted to have liability under these laws, including their manufactured gas plant sites and any neighboring areas to which contamination may have migrated, are referred to herein as “Superfund Sites.”

For Superfund Sites where there are other potentially responsible parties and the Utilities are not managing the site investigation and remediation, the accrued liability represents an estimate of the amount the Utilities will need to pay to investigate and, where

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determinable, discharge their related obligations. For Superfund Sites (including the manufactured gas plant sites) for which one of the Utilities is managing the investigation and remediation, the accrued liability represents an estimate of the company’s share of undiscounted cost to investigate the sites and, for sites that have been investigated in whole or in part, the cost to remediate the sites, if remediation is necessary and if a reasonable estimate of such cost can be made. Remediation costs are estimated in light of the information available, applicable remediation standards, and experience with similar sites.

The accrued liabilities and regulatory assets related to Superfund Sites at September 30, 2013 and December 31, 2012 were as follows:

	Con Edison				CECONY
(Millions of Dollars)	2013		2012		2013		2012
Accrued Liabilities:
Manufactured gas plant sites		$439		$462		$332		$351
Other Superfund Sites		73		83		71		82
Total		$512		$545		$403		$433
Regulatory assets		$704		$730		$591		$615

Most of the accrued Superfund Site liability relates to sites that have been investigated, in whole or in part. However, for some of the sites, the extent and associated cost of the required remediation has not yet been determined. As investigations progress and information pertaining to the required remediation becomes available, the Utilities expect that additional liability may be accrued, the amount of which is not presently determinable but may be material. Under their current rate agreements, the Utilities are permitted to recover or defer as regulatory assets (for subsequent recovery through rates) certain site investigation and remediation costs.

Environmental remediation costs incurred and insurance recoveries received related to Superfund Sites for the three and nine months ended September 30, 2013 and 2012 were as follows:

	For the Three Months Ended September 30,
	Con Edison				CECONY
(Millions of Dollars)	2013		2012		2013		2012
Remediation costs incurred		$10		$3		$10		$1
Insurance recoveries received		—		—		—		—

	For the Nine Months Ended September 30,
	Con Edison				CECONY
(Millions of Dollars)	2013		2012		2013		2012
Remediation costs incurred		$35		$18		$30		$15
Insurance recoveries received		—		—		—		—

In 2010, CECONY estimated that for its manufactured gas plant sites, its aggregate undiscounted potential liability for the investigation and remediation of coal tar and/or other manufactured gas plant-related

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environmental contaminants could range up to $1.9 billion. In 2010, O&R estimated that for its manufactured gas plant sites, each of which has been investigated, the aggregate undiscounted potential liability for the remediation of such contaminants could range up to $200 million. These estimates were based on the assumption that there is contamination at all sites, including those that have not yet been fully investigated and additional assumptions about the extent of the contamination and the type and extent of the remediation that may be required. Actual experience may be materially different.

Asbestos Proceedings

Suits have been brought in New York State and federal courts against the Utilities and many other defendants, wherein a large number of plaintiffs sought large amounts of compensatory and punitive damages for deaths and injuries allegedly caused by exposure to asbestos at various premises of the Utilities. The suits that have been resolved, which are many, have been resolved without any payment by the Utilities, or for amounts that were not, in the aggregate, material to them. The amounts specified in all the remaining thousands of suits total billions of dollars; however, the Utilities believe that these amounts are greatly exaggerated, based on the disposition of previous claims. In 2010, CECONY estimated that its aggregate undiscounted potential liability for these suits and additional suits that may be brought over the next 15 years is $10 million. The estimate was based upon a combination of modeling, historical data analysis and risk factor assessment. Actual experience may be materially different. In addition, certain current and former employees have claimed or are claiming workers’ compensation benefits based on alleged disability from exposure to asbestos. Under its current rate agreements, CECONY is permitted to defer as regulatory assets (for subsequent recovery through rates) costs incurred for its asbestos lawsuits and workers’ compensation claims. The accrued liability for asbestos suits and workers’ compensation proceedings (including those related to asbestos exposure) and the amounts deferred as regulatory assets for the Companies at September 30, 2013 and December 31, 2012 were as follows:

	Con Edison				CECONY
(Millions of Dollars)	2013		2012		2013		2012
Accrued liability – asbestos suits		$10		$10		$10		$10
Regulatory assets – asbestos suits		$10		$10		$10		$10
Accrued liability – workers’ compensation		$91		$94		$86		$89
Regulatory assets – workers’ compensation		$16		$19		$16		$19

Note H — Other Material Contingencies

Manhattan Steam Main Rupture

In July 2007, a CECONY steam main located in midtown Manhattan ruptured. It has been reported that one person died and others were injured as a result of the incident. Several buildings in the area were damaged. Debris from the incident included dirt and mud containing asbestos. The response to the incident required the closing of several buildings and streets for various periods. Approximately 90 suits are pending against the company seeking generally unspecified compensatory and, in some cases, punitive damages, for personal injury, property damage and business

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interruption. The company has notified its insurers of the incident and believes that the policies in force at the time of the incident will cover the company’s costs to satisfy its liability to others in connection with the suits. At September 30, 2013, the company has accrued its estimated liability for the suits of $50 million and an insurance receivable in the same amount.

Lease In/Lease Out Transactions

In each of 1997 and 1999, Con Edison Development entered into transactions in which it leased property and then immediately subleased the properties back to the lessor (termed “Lease In/Lease Out,” or LILO transactions). The transactions respectively involved electric generating and gas distribution facilities in the Netherlands, with a total investment of $259 million. The transactions were financed with $93 million of equity and $166 million of non-recourse, long-term debt secured by the underlying assets. In accordance with the accounting rules for leases, Con Edison accounted for the two LILO transactions as leveraged leases. Accordingly, the company’s investment in these leases, net of non-recourse debt, was carried as a single amount in Con Edison’s consolidated balance sheet and income was recognized pursuant to a method that incorporated a level rate of return for those years when net investment in the lease was positive.

On audit of Con Edison’s tax return for 1997, the Internal Revenue Service (IRS) disallowed tax losses in connection with the 1997 LILO transaction and assessed the company a $0.3 million income tax deficiency. On audits of Con Edison’s 1998 through 2011 tax returns, the IRS disallowed $574 million of tax losses taken with respect to both LILO transactions. In December 2005, Con Edison paid the $0.3 million deficiency asserted by the IRS for the tax year 1997 with respect to the 1997 LILO transaction. In April 2006, the company paid interest of $0.2 million associated with the deficiency and commenced an action in the United States Court of Federal Claims, entitled Consolidated Edison Company of New York, Inc. v. United States, to obtain a refund of tax and interest. A trial was completed in November 2007. In October 2009, the court issued a decision in favor of the company concluding that the 1997 LILO transaction was, in substance, a true lease that possessed economic substance, the loans relating to the lease constituted bona fide indebtedness, and the deductions for the 1997 LILO transactions claimed by the company in its 1997 federal income tax return are allowable. In January 2013, the United States Court of Appeals for the Federal Circuit reversed the October 2009 trial court decision and disallowed the tax losses claimed by the company relating to the 1997 LILO transaction. In March 2013, the Court of Appeals denied the company’s request to grant rehearing en banc of the January 2013 decision. In June 2013, Con Edison entered into a closing agreement with the IRS regarding the 1997 and 1999 LILO transactions.

As a result of the January 2013 Court of Appeals decision, in the three months ended March 31, 2013, Con Edison recorded an after-tax charge of $150 million to reflect, as required by the accounting rules for leveraged lease transactions, the recalculation of the

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accounting effect of the LILO transactions based on the revised after-tax cash flows projected from the inception of the leveraged leases as well as the interest on the potential tax liability resulting from the disallowance of federal and state income tax losses with respect to the LILO transactions (see “Uncertain Tax Positions” in Note I). In June 2013, the 1999 LILO transaction was terminated, as a result of which the company realized a $29 million gain (after-tax) and received net cash proceeds of $108 million. In August 2013, the 1997 LILO transaction was terminated, resulting in a $26 million gain (after-tax) and net cash proceeds of $92 million. The effect on Con Edison’s consolidated income statement is as follows:

(Millions of Dollars)	For the Three Months Ended September 30, 2013			For the Nine Months Ended September 30, 2013
Increase/(decrease) to non-utility operating revenues	$	44		$	(27	)
(Increase)/decrease to other interest expense		—			(131	)
Income tax benefit/(expense)		(18	)		63
Total increase/(decrease) in net income	$	26		$	(95	)

The transactions did not impact earnings in 2012.

At September 30, 2013, the company had terminated its LILO transactions and no longer had an investment recorded for these leases in its consolidated balance sheet. At December 31, 2012, the company’s net investment in the LILO transactions was $(76) million, comprised of a $228 million gross investment less $304 million of deferred tax liabilities.

In January 2013, to defray interest charges, the company deposited $447 million with federal and state tax agencies relating primarily to the potential tax liability from these LILO transactions in past tax years and interest thereon. In June 2013, at the company’s request, the IRS returned $95 million of the deposit. In August 2013, an additional $30 million of the deposit was returned from the IRS at the company’s request. In the third quarter of 2013, the IRS completed its audits for the tax years 1998 through 2011 and the company expects to apply a portion of the remaining deposited amounts against its federal tax liability during the fourth quarter of 2013. The company is currently amending its state tax returns for all years covered by the LILOs, and expects that the balance of the deposit will be applied to satisfy its related state tax liability.

Other Contingencies

See “Other Regulatory Matters” in Note B and “Uncertain Tax Positions” in Note I.

Guarantees

Con Edison and its subsidiaries enter into various agreements providing financial or performance assurance primarily to third parties on behalf of their subsidiaries. Maximum amounts guaranteed by Con Edison totaled $1,272 million and $859 million at September 30, 2013 and December 31, 2012, respectively.

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A summary, by type and term, of Con Edison’s total guarantees at September 30, 2013 is as follows:

Guarantee Type	0 – 3 years		4 – 10 years		> 10 years		Total
	(Millions of Dollars)
Energy transactions	$	705	$	52	$	25	$	782
Solar energy projects		443		—		4		447
Intra-company guarantees		16		—		—		16
Other guarantees		27		—		—		27
Total	$	1,191	$	52	$	29	$	1,272

Energy Transactions — Con Edison guarantees payments on behalf of its competitive energy businesses in order to facilitate physical and financial transactions in gas, pipeline capacity, transportation, oil, electricity, renewable energy credits and energy services. To the extent that liabilities exist under the contracts subject to these guarantees, such liabilities are included in Con Edison’s consolidated balance sheet.

Solar Energy Projects — Con Edison and Con Edison Development guarantee payments associated with the investment in solar energy generation facilities on behalf of their wholly-owned subsidiaries. In addition, Con Edison Development has entered into a guarantee ($80 million maximum) on behalf of an entity in which it has a 50 percent interest (see Note M) in connection with the construction of solar energy generation facilities. Con Edison Development also provided $4 million in guarantees to Travelers Insurance Company for indemnity agreements for surety bonds in connection with the construction and operation of solar energy facilities performed by its subsidiaries.

Intra-company Guarantees — Con Edison guarantees electricity sales made by Con Edison Energy and Con Edison Solutions to O&R and CECONY.

Other Guarantees — Con Edison and Con Edison Development also guarantee the following:

• $2 million relates to guarantees issued by Con Edison to CECONY covering a former Con Edison subsidiary’s lease payment to use CECONY’s conduit system in accordance with a tariff approved by the NYSPSC and a guarantee issued by Con Edison to a landlord to guarantee the former subsidiary’s obligations under a building lease. The former subsidiary is obligated to reimburse Con Edison for any payments made under these guarantees. This obligation is fully secured by letters of credit;

• $25 million for guarantees provided by Con Edison to Travelers Insurance Company for indemnity agreements for surety bonds in connection with energy service projects performed by Con Edison Solutions; and

• Con Edison, on behalf of Con Edison Solutions, as a retail electric provider, issued a guarantee to the Public Utility Commission of Texas with no specified limitation on the amount guaranteed, covering the payment of all obligations of a retail electric provider. Con Edison’s estimate of the maximum potential obligation is $5 million as of September 30, 2013.

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Note I — Income Tax

Con Edison’s income tax expense decreased to $250 million for the three months ended September 30, 2013, from $261 million for the three months ended September 30, 2012. The effective tax rates for the three months ended September 30, 2013 and 2012 were 35 percent and 37 percent, respectively. The decrease in the effective tax rate in 2013 is due primarily to reductions in liabilities for uncertain tax positions related to the completion of the IRS audits in the third quarter of 2013 (see “Uncertain Tax Positions,” below) and favorable tax adjustments recorded in conjunction with filing Con Edison’s 2012 consolidated federal tax return in September. The favorable tax adjustments are primarily due to higher flow-through federal income tax benefits related to plant and higher renewable energy tax credits.

Con Edison’s income tax expense decreased to $373 million for the nine months ended September 30, 2013, from $501 million for the nine months ended September 30, 2012. The effective tax rates for the nine months ended September 30, 2013 and 2012 were 31 percent and 35 percent, respectively. The decrease in the effective tax rate in 2013 is due primarily to the favorable tax adjustments discussed above and the impact of comparable favorable reconciling items on reduced income before income tax expense in the 2013 period compared with the 2012 period. Additionally, in the first quarter of 2013, the IRS accepted on audit the company’s claim for manufacturing tax deductions. This deduction, plus higher state income taxes in 2012, also resulted in a reduction in the 2013 effective tax rate.

CECONY’s income tax expense decreased to $222 million for the three months ended September 30, 2013, from $227 million for the three months ended September 30, 2012. The effective tax rates for the three months ended September 30, 2013 and 2012 were 36 percent and 37 percent, respectively. CECONY’s income tax expense decreased to $431 million for the nine months ended September 30, 2013, from $436 million for the nine months ended September 30, 2012. The effective tax rates for the nine months ended September 30, 2013 and 2012 were 34 percent and 35 percent, respectively. The decreases in the effective tax rates for the three and nine months ended September 30, 2013, are due primarily to higher flow-through federal income tax benefits ($7 million) reflected in CECONY’s federal tax return filed in September.

In September 2013, the IRS issued final regulations that provide guidance on the appropriate tax treatment of costs incurred to acquire, produce or improve tangible property. The new regulations, effective beginning in 2014, permit an acceleration of tax deductions for certain materials and supplies recorded as inventory for financial accounting purposes. The application of these regulations is not expected to have a material impact on the Companies’ financial position, results of operations or liquidity.

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Uncertain Tax Positions

During the first quarter of 2013, the IRS accepted Con Edison’s deductions for repair costs to utility plant (the “repair allowance deductions”). As a result of this settlement, Con Edison and CECONY reduced their estimated liabilities for prior year uncertain tax positions by $72 million and $66 million, respectively, with a corresponding increase to accumulated deferred income tax liabilities. In addition, as a result of the January 2013 Court of Appeals decision (see “Lease In/Lease Out Transactions” in Note H), Con Edison increased its estimated prior year liabilities for federal and state uncertain tax positions by $238 million in the first quarter of 2013, with a corresponding reduction to accumulated deferred income tax liabilities. In June 2013, Con Edison entered into a closing agreement with the IRS regarding the 1997 and 1999 LILO transactions, as a result of which the company decreased its estimated prior year liabilities for federal and state uncertain tax positions by $238 million in the second quarter of 2013, with a corresponding increase to its current income tax liability. These changes to the Companies’ estimated liabilities for uncertain tax positions had no impact on income tax expense for the nine months ended September 30, 2013.

In the third quarter of 2013, the IRS completed its audits for the tax years 1998 through 2011 and the Companies recognized approximately $13 million of income tax benefits ($7 million for CECONY), including $6 million that favorably affected Con Edison’s effective tax rate for the three and nine months ended September 30, 2013. There were no material changes to the Companies’ estimated liabilities for uncertain tax positions during the nine months ended September 30, 2012. At September 30, 2013, the estimated liabilities for uncertain tax positions for Con Edison were $8 million and an immaterial amount for CECONY.

The Companies recognize interest on liabilities for uncertain tax positions in interest expense and would recognize penalties, if any, in operating expenses in the Companies’ consolidated income statements. In the first quarter of 2013, Con Edison recognized $126 million of interest expense ($131 million related to the LILO transactions, less a reduction of $5 million in accrued interest expense primarily associated with repair allowance deductions). In the third quarter of 2013, the Companies’ reversed $5 million ($3 million for CECONY) in accrued interest expense associated with reducing the Companies’ estimated liabilities for uncertain tax positions. The Companies’ accrued interest on uncertain tax positions at September 30, 2013 and December 31, 2012 was immaterial.

The Companies reasonably expect to resolve an immaterial amount of their uncertain tax positions with the IRS within the next twelve months, and accordingly, Con Edison has reflected its estimated liability for uncertain tax positions as noncurrent liabilities on its consolidated balance sheet. At September 30, 2013, the total amount of unrecognized tax benefits that, if recognized, would affect the Companies’ effective tax rate is $5 million for Con Edison and an immaterial amount for CECONY.

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Note J — Financial Information by Business Segment

The financial data for the business segments are as follows:

	For the Three Months Ended September 30,
	Operating revenues				Inter-segment revenues						Depreciation and amortization				Operating income
(Millions of Dollars)	2013		2012		2013			2012			2013		2012		2013			2012
CECONY
Electric	$	2,622	$	2,611	$	4		$	4		$	188	$	179	$	811		$	812
Gas		199		189		1			1			33		31		(24	)		(21	)
Steam		72		68		22			20			16		15		(35	)		(37	)
Consolidation adjustments		—		—		(27	)		(25	)		—		—		—			—
Total CECONY	$	2,893	$	2,868	$	—		$	—		$	237	$	225	$	752		$	754
O&R
Electric	$	200	$	199	$	—		$	—		$	10	$	10	$	46		$	50
Gas		26		27		—			—			4		3		(7	)		(6	)
Total O&R	$	226	$	226	$	—		$	—		$	14	$	13	$	39		$	44
Competitive energy businesses	$	365	$	344	$	—		$	2		$	6	$	2	$	63		$	53
Other*		—		—		—			(2	)		1		—		1			—
Total Con Edison	$	3,484	$	3,438	$	—		$	—		$	258	$	240	$	855		$	851

* Parent company expenses, primarily interest, and consolidation adjustments. Other does not represent a business segment.

	For the Nine Months Ended September 30,
	Operating revenues						Inter-segment revenues						Depreciation and amortization				Operating income
(Millions of Dollars)	2013			2012			2013			2012			2013		2012		2013		2012
CECONY
Electric	$	6,309		$	6,307		$	12		$	11		$	559	$	527	$	1,307	$	1,383
Gas		1,190			1,017			4			4			97		89		272		255
Steam		522			414			60			58			49		48		80		40
Consolidation adjustments		—			—			(76	)		(73	)		—		—		—		—
Total CECONY	$	8,021		$	7,738		$	—		$	—		$	705	$	664	$	1,659	$	1,678
O&R
Electric	$	492		$	457		$	—		$	—		$	31	$	28	$	81	$	74
Gas		143			144			—			—			11		11		20		26
Total O&R	$	635		$	601		$	—		$	—		$	42	$	39	$	101	$	100
Competitive energy businesses	$	834		$	954		$	4		$	6		$	16	$	6	$	7	$	111
Other*		(3	)		(6	)		(4	)		(6	)		1		—		—		(3	)
Total Con Edison	$	9,487		$	9,287		$	—		$	—		$	764	$	709	$	1,767	$	1,886

* Parent company expenses, primarily interest, and consolidation adjustments. Other does not represent a business segment.

Note K – Derivative Instruments and Hedging Activities

Under the accounting rules for derivatives and hedging, derivatives are recognized on the balance sheet at fair value, unless an exception is available under the accounting rules. Certain qualifying derivative contracts have been designated as normal purchases or normal sales contracts. These contracts are not reported at fair value under the accounting rules.

Energy Price Hedging

Con Edison’s subsidiaries hedge market price fluctuations associated with physical purchases and sales of electricity, natural gas, and steam by using derivative instruments including futures, forwards, basis swaps, options, transmission congestion contracts and financial transmission rights contracts.

Effective January 1, 2013, the Companies adopted Accounting Standards Updates (ASUs) No. 2011-11, “Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities” and No. 2013-01, “Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities”. The

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amendments require the Companies to disclose certain quantitative information concerning financial and derivative instruments that are offset in the balance sheet and a description of the rights of setoff, including the nature of such rights, associated with recognized assets and liabilities that are subject to an enforceable master netting arrangement or similar agreement.

The Companies enter into master agreements for their commodity derivatives. These agreements typically provide setoff in the event of contract termination. In such case, generally the non-defaulting or non-affected party’s payable will be set-off by the other party’s payable. The non-defaulting party will customarily notify the defaulting party within a specific time period and come to an agreement on the early termination amount.

The fair values of the Companies’ commodity derivatives including the offsetting of assets and liabilities at September 30, 2013 were:

(Millions of Dollars)
Commodity Derivatives	Gross Amounts of Recognized Assets/(Liabilities)			Gross Amounts Offset in the Statement of Financial Position			Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position			Gross Amounts Not Offset in the Statement of Financial Position				Net Amount
										Financial instruments		Cash collateral received
Con Edison
Derivative assets	$	80		$	(52	)	$	28	(a)	$	—	$	—	$	28	(a)
Derivative liabilities		(124	)		74			(50	)		—		—		(50	)
Net derivative assets/(liabilities)	$	(44	)	$	22		$	(22	)(a)	$	—	$	—	$	(22	)(a)
CECONY
Derivative assets	$	27		$	(18	)	$	9	(a)	$	—	$	—	$	9	(a)
Derivative liabilities		(58	)		33			(25	)		—		—		(25	)
Net derivative assets/(liabilities)	$	(31	)	$	15		$	(16	)(a)	$	—	$	—	$	(16	)(a)

(a) At September 30, 2013, Con Edison and CECONY had margin deposits of $34 million and $14 million, respectively, classified as derivative assets in the balance sheet, but not included in the table. As required by an exchange, a margin is collateral, typically cash, that the holder of a derivative instrument has to deposit in order to transact on an exchange and to cover its potential losses with its broker or the exchange.

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The fair values of the Companies’ commodity derivatives including the offsetting of assets and liabilities at December 31, 2012 were:

(Millions of Dollars)
Commodity Derivatives	Gross Amounts of Recognized Assets/ (Liabilities)			Gross Amounts Offset in the Statement of Financial Position			Net Amounts of Assets/ (Liabilities) Presented in the Statement of Financial Position			Gross Amounts Not Offset in the Statement of Financial Position				Net Amount
										Financial instruments		Cash collateral received
Con Edison
Derivative assets	$	86		$	(57	)	$	29	(a)	$	—	$	—	$	29	(a)
Derivative liabilities		(176	)		104			(72	)		—		—		(72	)
Net derivative assets/(liabilities)	$	(90	)	$	47		$	(43	)(a)	$	—	$	—	$	(43	)(a)
CECONY
Derivative assets	$	27		$	(15	)	$	12	(a)	$	—	$	—	$	12	(a)
Derivative liabilities		(83	)		44			(39	)		—		—		(39	)
Net derivative assets/(liabilities)	$	(56	)	$	29		$	(27	)(a)	$	—	$	—	$	(27	)(a)

(a) At December 31, 2012, Con Edison and CECONY had margin deposits of $37 million and $18 million, respectively, classified as derivative assets in the balance sheet, but not included in the table. As required by an exchange, a margin is collateral, typically cash, that the holder of a derivative instrument has to deposit in order to transact on an exchange and to cover its potential losses with its broker or the exchange.

Credit Exposure

The Companies are exposed to credit risk related to transactions entered into primarily for the various energy supply and hedging activities by the Utilities and the competitive energy businesses. The Companies use credit policies to manage this risk, including an established credit approval process, monitoring of counterparty limits, netting provisions within agreements, collateral or prepayment arrangements, credit insurance and credit default swaps.

At September 30, 2013, Con Edison and CECONY had $110 million and $14 million of credit exposure in connection with energy supply and hedging activities, net of collateral, respectively. Con Edison’s net credit exposure consisted of $42 million with independent system operators, $37 million with commodity exchange brokers, $30 million with investment-grade counterparties and $1 million with non-investment grade or non-rated counterparties. CECONY’s entire net credit exposure was with commodity exchange brokers.

Economic Hedges

The Companies enter into certain derivative instruments that do not qualify or are not designated as hedges under the accounting rules for derivatives and hedging. However, management believes these instruments represent economic hedges that mitigate exposure to fluctuations in commodity prices.

The fair values of the Companies’ commodity derivatives at September 30, 2013 were:

(Millions of Dollars)	Fair Value of Commodity Derivatives(a) Balance Sheet Location	Con Edison			CECONY
Derivative Assets
Current	Other current assets	$	55		$	18
Long-term	Other deferred charges and noncurrent assets		25			9
Total derivative assets		$	80		$	27
Impact of netting			(18	)		(4	)
Net derivative assets		$	62		$	23
Derivative Liabilities
Current	Fair value of derivative liabilities	$	71		$	40
Long-term	Fair value of derivative liabilities		53			18
Total derivative liabilities		$	124		$	58
Impact of netting			(74	)		(33	)
Net derivative liabilities		$	50		$	25

(a) Qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts, are not reported at fair value under the accounting rules for derivatives and hedging and, therefore, are excluded from the table.

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The fair values of the Companies’ commodity derivatives at December 31, 2012 were:

(Millions of Dollars)	Fair Value of Commodity Derivatives(a) Balance Sheet Location	Con Edison			CECONY
Derivative Assets
Current	Other current assets	$	64		$	18
Long-term	Other deferred charges and noncurrent assets		22			9
Total derivative assets		$	86		$	27
Impact of netting			(20	)		3
Net derivative assets		$	66		$	30
Derivative Liabilities
Current	Fair value of derivative liabilities	$	122		$	58
Long-term	Fair value of derivative liabilities		54			25
Total derivative liabilities		$	176		$	83
Impact of netting			(104	)		(44	)
Net derivative liabilities		$	72		$	39

(a) Qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts, are not reported at fair value under the accounting rules for derivatives and hedging and, therefore, are excluded from the table.

The Utilities generally recover all of their prudently incurred fuel, purchased power and gas cost, including hedging gains and losses, in accordance with rate provisions approved by the applicable state utility commissions. In accordance with the accounting rules for regulated operations, the Utilities record a regulatory asset or liability to defer recognition of unrealized gains and losses on their electric and gas derivatives. As gains and losses are realized in future periods, they will be recognized as purchased power, gas and fuel costs in the Companies’ consolidated income statements. Con Edison’s competitive energy businesses record realized and unrealized gains and losses on their derivative contracts in earnings in the reporting period in which they occur.

The following tables present the changes in the fair values of commodity derivatives that have been deferred or recognized in earnings for the three and nine months ended September 30, 2013:

Realized and Unrealized Gains/(Losses) on Commodity Derivatives(a) Deferred or Recognized in Income for the Three Months Ended September 30, 2013
(Millions of Dollars)	Balance Sheet Location	Con Edison			CECONY
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Current	Deferred derivative gains	$	—		$	—
Long-term	Deferred derivative gains		—			—
Total deferred gains/(losses)		$	—		$	—
Current	Deferred derivative losses	$	11		$	9
Current	Recoverable energy costs		(19	)		(17	)
Long-term	Deferred derivative losses		6			7
Total deferred gains/(losses)		$	(2	)	$	(1	)
Net deferred gains/(losses)		$	(2	)	$	(1	)
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense	$	3	(b)	$	—
	Gas purchased for resale		(6	)		—
	Non-utility revenue		7			—
Total pre-tax gain/(loss) recognized in income		$	4		$	—

(a) Qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts, are not reported at fair value under the accounting rules for derivatives and hedging and, therefore, are excluded from the table.

(b) For the three months ended September 30, 2013, Con Edison recorded in purchased power expense an unrealized pre-tax gain of $6 million.

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Realized and Unrealized Gains/(Losses) on Commodity Derivatives(a) Deferred or Recognized in Income for the Nine Months Ended September 30, 2013
(Millions of Dollars)	Balance Sheet Location	Con Edison			CECONY
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Current	Deferred derivative gains		$     1			$     1
Long-term	Deferred derivative gains		—			—
Total deferred gains/(losses)			$     1			$     1
Current	Deferred derivative losses		$   24			$   19
Current	Recoverable energy costs		(22	)		(19	)
Long-term	Deferred derivative losses		3			7
Total deferred gains/(losses)			$     5			$     7
Net deferred gains/(losses)			$     6			$     8
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense		$   32	(b)		$    —
	Gas purchased for resale		(17	)		—
	Non-utility revenue		8			—
Total pre-tax gain/(loss) recognized in income			$   23			$    —

(a) Qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts, are not reported at fair value under the accounting rules for derivatives and hedging and, therefore, are excluded from the table.

(b) For the nine months ended September 30, 2013, Con Edison recorded in purchased power expense an unrealized pre-tax gain of $22 million.

The following tables present the changes in the fair values of commodity derivatives that have been deferred or recognized in earnings for the three and nine months ended September 30, 2012:

Realized and Unrealized Gains/(Losses) on Commodity Derivatives(a) Deferred or Recognized in Income for the Three Months Ended September 30, 2012
(Millions of Dollars)	Balance Sheet Location	Con Edison			CECONY
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Current	Deferred derivative gains		$     5			$     5
Long-term	Deferred derivative gains		1			1
Total deferred gains/(losses)			$     6			$     6
Current	Deferred derivative losses		$   51			$   42
Current	Recoverable energy costs		(60	)		(52	)
Long-term	Deferred derivative losses		22			20
Total deferred gains/(losses)			$   13			$   10
Net deferred gains/(losses)			$   19			$   16
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense		$     9	(b)		$    —
	Gas purchased for resale		—			—
	Non-utility revenue		1			—
Total pre-tax gain/(loss) recognized in income			$   10			$    —

(a) Qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts, are not reported at fair value under the accounting rules for derivatives and hedging and, therefore, are excluded from the table.

(b) For the three months ended September 30, 2012, Con Edison recorded in purchased power expense an unrealized pre-tax gain of $30 million.

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Realized and Unrealized Gains/(Losses) on Commodity Derivatives(a) Deferred or Recognized in Income for the Nine Months Ended September 30, 2012
(Millions of Dollars)	Balance Sheet Location	Con Edison			CECONY
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Current	Deferred derivative gains		$     5			$     5
Long-term	Deferred derivative gains		1			1
Total deferred gains/(losses)			$     6			$     6
Current	Deferred derivative losses		$   89			$   78
Current	Recoverable energy costs		(187	)		(164	)
Long-term	Deferred derivative losses		13			19
Total deferred gains/(losses)			$  (85	)		$  (67	)
Net deferred gains/(losses)			$  (79	)		$  (61	)
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense		$  (49	)(b)		$    —
	Gas purchased for resale		(2	)		—
	Non-utility revenue		(11	)(b)		—
Total pre-tax gain/(loss) recognized in income			$  (62	)		$    —

(a) Qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts, are not reported at fair value under the accounting rules for derivatives and hedging and, therefore, are excluded from the table.

(b) For the nine months ended September 30, 2012, Con Edison recorded in non-utility revenues and purchased power expense an unrealized pre-tax gain/(loss) of $(13) million and $75 million, respectively.

As of September 30, 2013, Con Edison had 1,187 contracts, including 628 CECONY contracts, which were considered to be derivatives under the accounting rules for derivatives and hedging (excluding qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts). The following table presents the number of contracts by commodity type:

	Electric Derivatives								Gas Derivatives
	Number of Energy Contracts (a)		MWHs (b)		Number of Capacity Contracts (a)		MWs (b)		Number of Contracts (a)		Dths (b)		Total Number Of Contracts (a)
Con Edison		470		13,643,994		83		11,625		634		79,090,035		1,187
CECONY		82		3,127,600		4		1,200		542		75,470,000		628

(a) Qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts, are not reported at fair value under the accounting rules for derivatives and hedging and, therefore, are excluded from the table.

(b) Volumes are reported net of long and short positions.

The Companies also enter into electric congestion and gas basis swap contracts to hedge the congestion and transportation charges which are associated with electric and gas contracts and hedged volumes.

The collateral requirements associated with, and settlement of, derivative transactions are included in net cash flows from operating activities in the Companies’ consolidated statement of cash flows. Most derivative instrument contracts contain provisions that may require the Companies to provide collateral on derivative instruments in net liability positions. The amount of collateral to be provided will depend on the fair value of the derivative instruments and the Companies’ credit ratings.

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The aggregate fair value of all derivative instruments with credit-risk-related contingent features that are in a net liability position and collateral posted at September 30, 2013, and the additional collateral that would have been required to be posted had the lowest applicable credit rating been reduced one level and to below investment grade were:

(Millions of Dollars)	Con Edison (a)			CECONY (a)
Aggregate fair value – net liabilities		$31			$25
Collateral posted		$ —			$ —
Additional collateral (b) (downgrade one level from current ratings)		$ —			$ —
Additional collateral (b) (downgrade to below investment grade from current ratings)		$42	(c)		$29	(c)

(a) Non-derivative transactions for the purchase and sale of electricity and gas and qualifying derivative instruments, which have been designated as normal purchases or normal sales, are excluded from the table. These transactions primarily include purchases of electricity from independent system operators. In the event the Utilities and Con Edison’s competitive energy businesses were no longer extended unsecured credit for such purchases, the Companies would be required to post collateral, which at September 30, 2013, would have amounted to an estimated $35 million and $14 million for Con Edison and CECONY, respectively. For certain other such non-derivative transactions, the Companies could be required to post collateral under certain circumstances, including in the event counterparties had reasonable grounds for insecurity.

(b) The Companies measure the collateral requirements by taking into consideration the fair value amounts of derivative instruments that contain credit-risk-related contingent features that are in a net liabilities position plus amounts owed to counterparties for settled transactions and amounts required by counterparties for minimum financial security. The fair value amounts represent unrealized losses, net of any unrealized gains where the Companies have a legally enforceable right of setoff.

(c) Derivative instruments that are net assets have been excluded from the table. At September 30, 2013, if Con Edison had been downgraded to below investment grade, it would have been required to post additional collateral for such derivative instruments of $37 million.

Interest Rate Swap

O&R has an interest rate swap pursuant to which it pays a fixed-rate of 6.09 percent and receives a LIBOR-based variable rate. The fair value of this interest rate swap at September 30, 2013 was an unrealized loss of $3 million, which has been included in Con Edison’s consolidated balance sheet as a noncurrent liability/fair value of derivative liabilities and a regulatory asset. The increase in the fair value of the swap for the three and nine months ended September 30, 2013 was $1 million and $3 million, respectively. In the event O&R’s credit rating was downgraded to BBB- or lower by S&P or Baa3 or lower by Moody’s, the swap counterparty could elect to terminate the agreement and, if it did so, the parties would then be required to settle the transaction.

Note L — Fair Value Measurements

The accounting rules for fair value measurements and disclosures define fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date in a principal or most advantageous market. Fair value is a market-based measurement that is determined based on inputs, which refer broadly to assumptions that market participants use in pricing assets or liabilities. These inputs can be readily observable, market corroborated, or generally unobservable firm inputs. The Companies often make certain assumptions that market participants would use in pricing the asset or liability, including assumptions about risk, and the risks inherent in the inputs to valuation techniques. The Companies use valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs.

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The accounting rules for fair value measurements and disclosures established a fair value hierarchy, which prioritizes the inputs to valuation techniques used to measure fair value in three broad levels. The rules require that assets and liabilities be classified in their entirety based on the level of input that is significant to the fair value measurement. Assessing the significance of a particular input may require judgment considering factors specific to the asset or liability, and may affect the valuation of the asset or liability and their placement within the fair value hierarchy. The Companies classify fair value balances based on the fair value hierarchy defined by the accounting rules for fair value measurements and disclosures as follows:

• Level 1 – Consists of assets or liabilities whose value is based on unadjusted quoted prices in active markets at the measurement date. An active market is one in which transactions for assets or liabilities occur with sufficient frequency and volume to provide pricing information on an ongoing basis. This category includes contracts traded on active exchange markets valued using unadjusted prices quoted directly from the exchange.

• Level 2 – Consists of assets or liabilities valued using industry standard models and based on prices, other than quoted prices within Level 1, that are either directly or indirectly observable as of the measurement date. The industry standard models consider observable assumptions including time value, volatility factors, and current market and contractual prices for the underlying commodities, in addition to other economic measures. This category includes contracts traded on active exchanges or in over-the-counter markets priced with industry standard models.

• Level 3 – Consists of assets or liabilities whose fair value is estimated based on internally developed models or methodologies using inputs that are generally less readily observable and supported by little, if any, market activity at the measurement date. Unobservable inputs are developed based on the best available information and subject to cost benefit constraints. This category includes contracts priced using models that are internally developed and contracts placed in illiquid markets. It also includes contracts that expire after the period of time for which quoted prices are available and internal models are used to determine a significant portion of the value.

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Assets and liabilities measured at fair value on a recurring basis as of September 30, 2013 are summarized below.

	Level 1				Level 2				Level 3				Netting Adjustments(d)				Total
(Millions of Dollars)	Con Edison		CECONY		Con Edison		CECONY		Con Edison		CECONY		Con Edison		CECONY		Con Edison		CECONY
Derivative assets:
Commodity (a)(e)	$	1	$	1	$	52	$	6	$	9	$	8	$	—	$	8	$	62	$	23
Other assets (c)(e)		129		122		108		98		—		—		—		—		237		220
Total	$	130	$	123	$	160	$	104	$	9	$	8	$	—	$	8	$	299	$	243
Derivative liabilities:
Commodity (a)(e)	$	9	$	9	$	74	$	37	$	23	$	—	$	(56)	$	(21)	$	50	$	25
Interest rate contract (b)(e)		—		—		3		—		—		—		—		—		3		—
Total	$	9	$	9	$	77	$	37	$	23	$	—	$	(56)	$	(21)	$	53	$	25

(a) A portion of the commodity derivatives categorized in Level 3 is valued using an internally developed model with observable inputs. The models also include some less readily observable inputs resulting in the classification of the entire contract as Level 3. See Note K.

(b) See Note K.

(c) Other assets are comprised of assets such as life insurance contracts within the deferred compensation plan and non-qualified retirement plans.

(d) Amounts represent the impact of legally-enforceable master netting agreements that allow the Companies to net gain and loss positions and cash collateral held or placed with the same counterparties.

(e) The Companies’ policy is to recognize transfers into and transfers out of the levels at the end of the reporting period. There were no transfers between levels 1, 2, and 3 for the nine months ended September 30, 2013.

Assets and liabilities measured at fair value on a recurring basis as of December 31, 2012 are summarized below.

	Level 1				Level 2				Level 3				Netting Adjustments(d)						Total
(Millions of Dollars)	Con Edison		CECONY		Con Edison		CECONY		Con Edison		CECONY		Con Edison			CECONY			Con Edison		CECONY
Derivative assets:
Commodity (a)(e)	$	—	$	—	$	43	$	8	$	33	$	10		$(10	)		$12		$	66	$	30
Other assets (c)(e)(f)		106		99		107		98		—		—		—			—			213		197
Total	$	106	$	99	$	150	$	106	$	33	$	10		$(10	)		$12		$	279	$	227
Derivative liabilities:
Commodity (a)(e)(h)	$	12	$	12	$	116	$	62	$	38	$	—		$(94	)		$(35	)	$	72	$	39
Interest rate contract (b)(e)(g)		—		—		6		—		—		—		—			—			6		—
Total	$	12	$	12	$	122	$	62	$	38	$	—		$(94	)		$(35	)	$	78	$	39

(a) A significant portion of the commodity derivative contracts categorized in Level 3 is valued using either an industry acceptable model or an internally developed model with observable inputs. The models also include some less readily observable inputs resulting in the classification of the entire contract as Level 3. See Note K.

(b) See Note K.

(c) Other assets are comprised of assets such as life insurance contracts within the deferred compensation plan and non-qualified retirement plans.

(d) Amounts represent the impact of legally-enforceable master netting agreements that allow the Companies to net gain and loss positions and cash collateral held or placed with the same counterparties.

(e) The Companies’ policy is to recognize transfers into and transfers out of the levels at the end of the reporting period.

(f) On March 31, 2012, other assets of $105 million for Con Edison and $95 million for CECONY were transferred from Level 3 to Level 2 because of reassessment of the levels in the fair value hierarchy within which certain inputs fall as of March 31, 2012.

(g) On March 31, 2012, interest rate contract of $8 million was transferred from Level 3 to Level 2 because of reassessment of the levels in the fair value hierarchy within which certain inputs fall.

(h) During 2012, Con Edison transferred commodity derivative contract liabilities of $2 million from Level 1 to Level 2, $9 million from Level 2 to Level 1, $2 million from Level 2 to Level 3, and $11 million from Level 3 to Level 2 because of reassessment of the levels in the fair value hierarchy within which certain inputs fall.

The employees in the risk management groups of the Utilities and the competitive energy businesses develop and maintain the Companies’ valuation policies and procedures for, and verify pricing and fair value valuation of, commodity derivatives. Under the Companies’ policies and procedures, multiple independent sources of information are obtained for forward price curves used to value commodity derivatives. Fair value and changes in fair value of commodity derivatives are reported on a monthly basis to the Companies’ risk committees, comprised of officers and employees of the Companies that oversee energy hedging at the Utilities and the competitive energy businesses. The managers of the risk management groups report to the Companies’ Vice President and Treasurer.

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	Fair Value of Level 3 at September 30, 2013 (Millions of Dollars)				Valuation Techniques	Unobservable Inputs	Range
Con Edison—Commodity
Electricity		$	(6	)	Discounted Cash Flow	Forward energy prices (a)	$24-$99 per MWH
Standard Offer Capacity Agreements			(17	)	Discounted Cash Flow	Forward capacity prices (a) Present value factor (a)	$119-$248 MW -day 2.64%
Transmission Congestion Contracts / Financial Transmission Rights			9		Discounted Cash Flow	Discount to adjust auction prices for inter-zonal forward price curves (b)	(5.8)%-42.4%
						Discount to adjust auction prices for historical monthly realized settlements (b)	(102.4)%-49.2%
						Inter-zonal forward price curves adjusted for historical zonal losses (b)	$1.56-$2.16
Total Con Edison—Commodity		$	(14	)
CECONY— Commodity
Transmission Congestion Contracts		$	8		Discounted Cash Flow	Discount to adjust auction prices for inter-zonal forward price curves (b)	(5.8)%-42.4%
						Discount to adjust auction prices for historical monthly realized settlements (b)	(102.4)%-49.2%

(a) Generally, increases/(decreases) in this input in isolation would result in a higher/(lower) fair value measurement.

(b) Generally, increases/(decreases) in this input in isolation would result in a lower/(higher) fair value measurement.

The table listed below provides a reconciliation of the beginning and ending net balances for assets and liabilities measured at fair value as of September 30, 2013 and 2012 and classified as Level 3 in the fair value hierarchy:

	For Three Months Ended September 30, 2013
				Total Gains/(Losses)— Realized and Unrealized
(Millions of Dollars)	Beginning Balance as of July 1, 2013			Included in Earnings			Included in Regulatory Assets and Liabilities		Purchases		Issuances		Sales		Settlements		Transfer In/Out of Level 3		Ending Balance as of September 30, 2013
Con Edison
Derivatives:
Commodity	$	(6	)	$	(3	)	$	(2)	$	5	$	—	$	—	$	(8)	$	—	$	(14	)
CECONY
Derivatives:
Commodity	$	8		$	2		$	(1)	$	5	$	—	$	—	$	(6)	$	—	$	8

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	For Nine Months Ended September 30, 2013
				Total Gains/(Losses)— Realized and Unrealized
(Millions of Dollars)	Beginning Balance as of January 1, 2013			Included in Earnings		Included in Regulatory Assets and Liabilities		Purchases		Issuances		Sales		Settlements		Transfer In/Out of Level 3		Ending Balance as of September 30, 2013
Con Edison
Derivatives:
Commodity	$	(5	)	$	5	$	1	$	12	$	—	$	—	$	(27)	$	—	$	(14	)
CECONY
Derivatives:
Commodity	$	10		$	9	$	—	$	10	$	—	$	—	$	(21)	$	—	$	8

	For the Three Months Ended September 30, 2012
			Total Gains/(Losses)— Realized and Unrealized
(Millions of Dollars)	Beginning Balance as of July 1, 2012		Included in Earnings		Included in Regulatory Assets and Liabilities		Purchases		Issuances		Sales		Settlements		Transfer In/Out of Level 3		Ending Balance as of September 30, 2012
Con Edison
Derivatives:
Commodity	$	(61)	$	(15)	$	19	$	7	$	—	$	—	$	25	$	22	$	(3	)
CECONY
Derivatives:
Commodity	$	(10)	$	(9)	$	8	$	7	$	—	$	—	$	5	$	11	$	12

	For the Nine Months Ended September 30, 2012
				Total Gains/(Losses)— Realized and Unrealized
(Millions of Dollars)	Beginning Balance as of January 1, 2012			Included in Earnings			Included in Regulatory Assets and Liabilities		Purchases		Issuances		Sales		Settlements		Transfer In/Out of Level 3			Ending Balance as of September 30, 2012
Con Edison
Derivatives:
Commodity	$	(62	)	$	(97	)	$	11	$	18	$	—	$	—	$	106	$	21		$	(3	)
Interest rate contract		(8	)		(1	)		—		—		—		—		1		8	(b)		—
Other assets(a)		99			3			3		—		—		—		—		(105	)(b)		—
Total	$	29		$	(95	)	$	14	$	18	$	—	$	—	$	107	$	(76	)	$	(3	)
CECONY
Derivatives:
Commodity	$	(7	)	$	(25	)	$	8	$	15	$	—	$	—	$	12	$	9	(b)	$	12
Other assets(a)		90			3			2		—		—		—		—		(95	)(b)		—
Total	$	83		$	(22	)	$	10	$	15	$	—	$	—	$	12	$	(86	)	$	12

(a) Amounts included in earnings are reported in investment and other income on the consolidated income statement.

(b) Other assets and interest rate contract were transferred as of March 31, 2012.

For the Utilities, realized gains and losses on Level 3 commodity derivative assets and liabilities are reported as part of purchased power, gas and fuel costs. The Utilities generally recover these costs in accordance with rate provisions approved by the applicable state

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public utilities commissions. Unrealized gains and losses for commodity derivatives are generally deferred on the consolidated balance sheet in accordance with the accounting rules for regulated operations.

For the competitive energy businesses, realized and unrealized gains and losses on Level 3 commodity derivative assets and liabilities are reported in non-utility revenues (immaterial and $2 million loss) and purchased power costs ($4 million loss and $2 million gain) on the consolidated income statement for the three months ended September 30, 2013 and 2012, respectively. Realized and unrealized gains and losses on Level 3 commodity derivative assets and liabilities are reported in non-utility revenues ($2 million loss and $11 million loss) and purchased power costs (immaterial and $42 million loss) on the consolidated income statement for the nine months ended September 30, 2013 and 2012, respectively. The change in fair value relating to Level 3 commodity derivative assets and liabilities held at September 30, 2013 and 2012 is included in non-utility revenues (immaterial and $2 million loss) and purchased power costs ($5 million loss and $16 million gain) on the consolidated income statement for the three months ended September 30, 2013 and 2012, respectively. For the nine months ended September 30, 2013 and 2012, the change in fair value relating to Level 3 commodity derivative assets and liabilities is included in non-utility revenues ($2 million loss and $11 million loss) and purchased power costs ($3 million loss and $40 million gain) on the consolidated income statement, respectively.

The accounting rules for fair value measurements and disclosures require consideration of the impact of nonperformance risk (including credit risk) from a market participant perspective in the measurement of the fair value of assets and liabilities. At September 30, 2013, the Companies determined that nonperformance risk would have no material impact on their financial position or results of operations. To assess nonperformance risk, the Companies considered information such as collateral requirements, master netting arrangements, letters of credit and parent company guarantees, and applied a market-based method by using the counterparty (for an asset) or the Companies’ (for a liability) credit default swaps rates.

Note M — Variable Interest Entities

Con Edison has variable interests in Copper Mountain Solar 2 Holdings, LLC (CMS 2) and Mesquite Solar 1 Holdings, LLC (MS 1), non-consolidated entities in which Con Edison Development purchased a 50 percent membership interest in July and September 2013, respectively. CMS 2 owns a project company that is developing a 150 MW (AC) solar energy project (with 92 MW currently in service) in Nevada. MS 1 owns a project company that owns a 150 MW (AC) solar energy project in Arizona. Electricity generated by the projects is sold to Pacific Gas and Electric Company pursuant to long-term power purchase agreements. Con Edison is not the primary beneficiary of these variable interest entities since the power to direct the activities that most significantly impact the economics of CMS 2 and MS 1 is shared equally between Con Edison Development and a third party.

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At September 30, 2013, Con Edison’s consolidated balance sheet includes $76 million and $104 million in investments (including earnings) related to CMS 2 and MS 1, respectively, which assessed in accordance with the accounting rules for variable interest entities, is Con Edison’s current maximum exposure to loss in the entities. In addition, Con Edison and Con Edison Development have issued certain guarantees to third parties in connection with the CMS 2 and MS 1 projects. See “Guarantees” in Note H.

Note N — Asset Retirement Obligations

The Companies account for retirement obligations on their assets in accordance with the accounting rules for asset retirement obligations.

The Companies recorded asset retirement obligations associated with the removal of asbestos and asbestos-containing material in their buildings (other than generating station and substation building structures themselves), electric equipment, and steam and gas distribution systems. The Companies also recorded asset retirement obligations relating to gas pipelines abandoned in place. The estimates of future liabilities were developed using historical information, and where available, quoted prices from outside contractors.

The Companies did not record an asset retirement obligation for the removal of asbestos associated with the generating station and substation building structures themselves. For these building structures, the Companies were unable to reasonably estimate their asset retirement obligations because the Companies were unable to estimate the undiscounted retirement costs or the retirement dates and settlement dates. The amount of the undiscounted retirement costs could vary considerably depending on the disposition method for the building structures, and the method has not been determined. The Companies anticipate continuing to use these building structures in their businesses for an indefinite period, and so the retirement dates and settlement dates are not determinable.

The accrued liability for asset retirement obligations and the regulatory liabilities for allowance for cost of removal less salvage for the Companies at September 30, 2013 and December 31, 2012 were as follows:

	Con Edison				CECONY
(Millions of Dollars)	2013		2012		2013		2012
Accrued liability — asset retirement obligations		$164		$159		$163		$158
Regulatory liabilities — allowance for cost of removal less salvage		$522		$503		$436		$420

Note O — New Financial Accounting Standards

In December 2011 and January 2013, the Financial Accounting Standards Board (FASB) issued amendments to address and clarify the scope of the balance sheet off-setting disclosure guidance within Accounting Standards Codification (ASC) 210, “Balance Sheet.” ASU No. 2011-11 and ASU No. 2013-01, “Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities,” provide guidance that requires a reporting

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entity to disclose certain quantitative information concerning financial and derivative instruments that are offset in the balance sheet and a description of the rights of setoff, including the nature of such rights, associated with recognized assets and liabilities that are subject to an enforceable master netting arrangement or similar agreement. ASU No. 2013-01 clarifies that financial instruments subject to the disclosure guidance are (1) derivatives accounted for in accordance with ASC 815, Derivatives and Hedging, (2) repurchase agreements and reverse purchase agreements and (3) securities borrowing and securities lending transactions that are either offset in accordance with ASC Section 210-20-45 or Section 815-10-45 or subject to an enforceable master netting arrangement or similar agreement. A reporting entity electing gross presentation of such assets and liabilities in its balance sheet will still be subject to the same disclosure requirements. Both ASUs are applicable for fiscal years beginning on or after January 1, 2013, interim periods within those fiscal years, and retrospectively for all comparative periods presented. The application of this guidance does not have a material impact on the Companies’ financial position, results of operations and liquidity. See Note K.

In February 2013, the FASB issued amendments to improve the reporting of reclassifications out of accumulated OCI through ASU No. 2013-02, “Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income.” The amendments require an entity to provide information either on the face of the financial statements or in a single footnote on significant amounts reclassified out of accumulated OCI and the related income statement line items to the extent an amount is reclassified in its entirety to net income under U.S. GAAP. For significant items not reclassified to net income in their entirety, an entity is required to cross-reference to other disclosures that provide additional information. For public entities, the amendments are effective prospectively for reporting periods beginning after December 15, 2012. The application of this guidance does not have a material impact on the Companies’ financial position, results of operations and liquidity. See Note A.

In July 2013, the FASB issued ASU No. 2013-10, “Derivatives and Hedging (Topic 815): Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes (a consensus of the FASB Emerging Issues Task Force).” The new guidance permits designating the Federal Funds Effective Swap Rate as a benchmark interest rate for hedge accounting. Previously, only the U.S. Treasury and LIBOR rates were allowed under the hedge accounting rules in U.S. GAAP. The new guidance also eliminates the restriction on using different benchmark interest rates for similar hedges. The amendments are effective prospectively for qualifying new or redesignated hedging relationships entered into on or after July 17, 2013. The application of this guidance does not have a material impact on the Companies’ financial position, results of operations and liquidity.

In July 2013, the FASB issued ASU No. 2013-11, “Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit when a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit

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Carryforward Exists (a Consensus of the FASB Emerging Issues Task Force).” The amendments require a liability related to an unrecognized tax benefit to be presented on a net basis with its associated deferred tax asset when utilization of such deferred tax assets is required or expected in the event the uncertain tax position is disallowed. Otherwise, the unrecognized tax benefit will be presented as a liability and will not be netted against deferred tax assets. For public entities, the amendments are effective prospectively for fiscal years, and interim periods within those years, beginning after December 15, 2013. The application of this guidance is not expected to have a material impact on the Companies’ financial position, results of operations and liquidity. See Note I.

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Item 2: Management’s Discussion and Analysis of Financial Condition and Results of Operations

This combined management’s discussion and analysis of financial condition and results of operations (MD&A) relates to the consolidated financial statements (the Third Quarter Financial Statements) included in this report of two separate registrants: Con Edison, Inc. (Con Edison) and Consolidated Edison Company of New York, Inc. (CECONY). This MD&A should be read in conjunction with the financial statements and the notes thereto. As used in this report, the term the “Companies” refers to Con Edison and CECONY. CECONY is a subsidiary of Con Edison and, as such, information in this MD&A about CECONY applies to Con Edison.

This MD&A should be read in conjunction with the Third Quarter Financial Statements and the notes thereto and the MD&A in Item 7 of the Companies’ combined Annual Report on Form 10-K for the year ended December 31, 2012 (File Nos. 1-14514 and 1-1217, the Form 10-K) and the MD&A in Part 1, Item 2 of the Companies’ combined Quarterly Report on Form 10-Q for the quarterly periods ended March 31, 2013 and June 30, 2013 (File Nos. 1-14514 and 1-1217).

Information in any item of this report referred to in this discussion and analysis is incorporated by reference herein. The use of terms such as “see” or “refer to” shall be deemed to incorporate by reference into this discussion and analysis the information to which reference is made.

Con Edison, incorporated in New York State in 1997, is a holding company which owns all of the outstanding common stock of CECONY, Orange and Rockland Utilities, Inc. (O&R) and the competitive energy businesses. As used in this report, the term the “Utilities” refers to CECONY and O&R.

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CECONY’s principal business operations are its regulated electric, gas and steam delivery businesses. O&R’s principal business operations are its regulated electric and gas delivery businesses. The competitive energy businesses sell electricity to retail and wholesale customers, provide certain energy-related services, and participate in energy infrastructure projects.

Con Edison’s strategy is to provide reliable energy services, maintain public and employee safety, promote energy efficiency, and develop cost-effective ways of performing its business. Con Edison seeks to be a responsible steward of the environment and enhance its relationships with customers, regulators and members of the communities it serves.

CECONY

Electric

CECONY provides electric service to approximately 3.3 million customers in all of New York City (except part of Queens) and most of Westchester County, an approximately 660 square mile service area with a population of more than nine million.

On July 19, 2013, the electric peak demand in CECONY’s service area reached a new record of 13,322 MW, exceeding the previous record of 13,189 MW reached on July 22, 2011.

The company estimates that, under design weather conditions, the 2013 service area peak demand was 13,500 MW, whereas the forecasted service area peak demand for 2013 was 13,200 MW. In October 2013, the company estimated its forecast of average annual growth of the peak electric demand in the company’s service area over the next five years at design conditions to be approximately 1.4 percent above the 13,500 MW.

Gas

CECONY delivers gas to approximately 1.1 million customers in Manhattan, the Bronx and parts of Queens and Westchester County.

In June 2013, the company decreased its five-year forecast of average annual growth of the peak gas demand in its service area at design conditions from approximately 4.3 percent (for 2013 to 2017) to 3.8 percent (for 2014 to 2018). The decrease reflects, among other things, that the new five-year forecast no longer covers 2013, the first year in which there was a significant increase in oil to gas conversions following changes to New York City regulations that will phase out the use of certain types of heating oil.

Steam

CECONY operates the largest steam distribution system in the United States by producing and delivering approximately 20,000 MMlbs of steam annually to approximately 1,717 customers in parts of Manhattan.

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O&R

Electric

O&R and its utility subsidiaries, Rockland Electric Company (RECO) and Pike County Light & Power Company (Pike) (together referred to herein as O&R) provide electric service to approximately 0.3 million customers in southeastern New York and in adjacent areas of northern New Jersey and northeastern Pennsylvania, an approximately 1,350 square mile service area.

Gas

O&R delivers gas to over 0.1 million customers in southeastern New York and adjacent areas of northeastern Pennsylvania.

Competitive Energy Businesses

Con Edison pursues competitive energy opportunities through three wholly-owned subsidiaries: Con Edison Solutions, Con Edison Energy and Con Edison Development. These businesses include the sales and related hedging of electricity to retail and wholesale customers, sales of certain energy-related products and services, and participation in energy infrastructure projects. At September 30, 2013, Con Edison’s equity investment in its competitive energy businesses was $466 million and their assets amounted to $1,277 million.

Certain financial data of Con Edison’s businesses is presented below:

	Three Months Ended September 30, 2013									Nine Months Ended September 30, 2013										At September 30, 2013
(Millions of Dollars, except percentages)	Operating Revenues					Net Income for Common Stock				Operating Revenues					Net Income for Common Stock					Assets
CECONY		$2,893		83	%		$401	87	%		$8,021		84	%		$831		100	%		$37,375	89	%
O&R		226		7	%		19	4	%		635		7	%		56		7	%		2,613	6	%
Total Utilities		3,119		90	%		420	91	%		8,656		91	%		887		107	%		39,988	95	%
Con Edison Solutions (a)		287		8	%		6	1	%		769		8	%		7		1	%		282	1	%
Con Edison Energy (a)		12		—	%		2	—	%		46		1	%		3		—	%		71	—	%
Con Edison Development (b)		67		2	%		32	7	%		23		—	%		(65	)	(8	)%		919	2	%
Other (c)		(1	)	—	%		4	1	%		(7	)	—	%		(4	)	—	%		704	2	%
Total Con Edison		$3,484		100	%		$464	100	%		$9,487		100	%		$828		100	%		$41,964	100	%

(a) Net income from the competitive energy businesses for the three and nine months ended September 30, 2013 includes $4 million and $12 million, respectively, of net after-tax mark-to-market gains/(losses) (Con Edison Solutions, $4 million and $13 million and Con Edison Energy, $0 million and $(1) million).

(b) Includes an after-tax gain/(charge) of $26 million and $(95) million relating to the lease in/lease out (LILO) transactions for the three and nine months ended September 30, 2013, respectively, and a tax benefit of $15 million resulting from the acceptance by the Internal Revenue Service (IRS) of the company’s claim for manufacturing tax deductions for the nine months ended September 30, 2013 (see Notes H and I to the Third Quarter Financial Statements).

(c) Represents inter-company and parent company accounting. See “Results of Operations,” below.

Con Edison’s net income for common stock for the three months ended September 30, 2013 was $464 million or $1.58 a share ($1.58 on a diluted basis) compared with $440 million or $1.50 a share ($1.49 on a diluted basis) for the three months ended September 30, 2012. Net income for common stock for the nine months ended September 30, 2013 was $828 million or $2.83 a share ($2.81 on a diluted basis) compared with earnings of $931 million or $3.18 a share ($3.16 on a diluted basis) for the nine months ended September 30, 2012. See “Results of Operations – Summary,” below. For segment financial information, see Note J to the Third Quarter Financial Statements and “Results of Operations,” below.

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Results of Operations — Summary

Net income for common stock for the three and nine months ended September 30, 2013 and 2012 was as follows:

	Three Months Ended September 30,					Nine Months Ended September 30,
(Millions of Dollars)	2013		2012			2013			2012
CECONY		$401		$389			$831			$824
O&R		19		24			56			54
Competitive energy businesses (a)		40		31			(55	)		65
Other (b)		4		(4	)		(4	)		(12	)
Con Edison		$464		$440			$828			$931

(a) Includes an after-tax gain/(charge) of $26 million and $(95) million relating to the LILO transactions for the three and nine months ended September 30, 2013, respectively, and a tax benefit of $15 million resulting from the acceptance by the IRS of the company’s claim for manufacturing tax deductions for the nine months ended September 30, 2013 (see Notes H and I to the Third Quarter Financial Statements). Also includes $4 million and $17 million of net after-tax mark-to-market gains for the three months ended September 30, 2013 and 2012, respectively, and $12 million and $35 million of net after-tax mark-to-market gains for the nine months ended September 30, 2013 and 2012, respectively.

(b) Consists of inter-company and parent company accounting.

The Companies’ results of operations for three and nine months ended September 30, 2013, as compared with the 2012 periods, reflect changes in the rate plans of Con Edison’s utility subsidiaries, increases in certain operations and maintenance expenses, depreciation and property taxes and for the nine months ended September 30, 2013, the weather impact on steam revenues. The results of operations include the operating results of the competitive energy businesses, including net mark-to-market effects.

Operations and maintenance expenses reflect primarily higher surcharges for assessments and fees that are collected in revenues from customers and higher operating costs attributable to weather-related events, offset in part by healthcare costs in the 2013 periods, as compared to 2012. Depreciation and property taxes were higher in the 2013 periods reflecting primarily the impact from higher utility plant balances.

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The following table presents the estimated effect on earnings per share and net income for common stock for the three and nine months ended 2013 as compared with the 2012 period, resulting from these and other major factors:

	Three Months Variation						Nine Months Variation
	Earnings per Share			Net Income for Common Stock (Millions of Dollars)			Earnings per Share			Net Income for Common Stock (Millions of Dollars)
CECONY (a)
Rate plans (b)	$	(0.02	)	$	(5	)	$	0.16		$	48
Weather impact on steam revenues		(0.01	)		(2	)		0.09			27
Operations and maintenance expenses (b)		0.08			24			(0.07	)		(23	)
Depreciation, property taxes and other tax matters (c)		(0.05	)		(16	)		(0.18	)		(53	)
Other		0.04			11			0.03			8
Total CECONY		0.04			12			0.03			7
O&R		(0.01	)		(5	)		—			2
Competitive energy businesses (d)		0.03			9			(0.41	)		(120	)
Other, including parent company expenses (c)		0.02			8			0.03			8
Total variations	$	0.08		$	24			$(0.35	)		$(103	)

(a) Under the revenue decoupling mechanisms in CECONY’s electric and gas rate plans and the weather-normalization clause applicable to the gas business, revenues are generally not affected by changes in delivery volumes from levels assumed when rates were approved. Under CECONY’s rate plans, pension and other postretirement costs and certain other costs are reconciled to amounts reflected in rates for such costs.

(b) The rate plan variations include a decrease in revenues in the three and nine months ended September 30, 2013, as compared to the 2012 periods when revenues reflected the use of certain regulatory liabilities to offset a temporary surcharge under CECONY’s electric rate plan ($27 million, after-tax, or $0.09 a share). The variations in operations and maintenance expenses include a decrease in pension costs in the three and nine months ended September 30, 2013, as compared to the 2012 periods when certain pension costs that were deferred from earlier periods were recognized under CECONY’s electric rate plan ($20 million, after-tax, or $0.07 a share and $18 million, after-tax, or $0.06 a share, respectively).

(c) Variations for the three and nine months ended September 30 reflect certain federal income tax benefits and related interest in the 2013 periods for Con Edison (parent company): $7 million or $0.02 a share; CECONY: $9 million or $0.03 a share. See Note I to the Third Quarter Financial Statements.

(d) These variations include, for the three months ended September 30, an after-tax gain of $26 million or $0.09 a share in 2013 relating to the LILO transactions (see Notes H and I to the Third Quarter Financial Statements) and reflect after-tax net mark-to-market gains of $4 million or $0.01 a share in 2013 and after-tax net mark-to-market gains of $17 million or $0.06 a share in 2012. These variations include, for the nine months ended September 30, an after-tax charge of $95 million or $0.32 a share in 2013 relating to the LILO transactions, a tax benefit of $15 million or $0.05 a share in 2013 resulting from the acceptance by the IRS of the company’s claim for manufacturing tax deductions (see Notes H and I to the Third Quarter Financial Statements) and reflect after-tax net mark-to-market gains of $12 million or $0.04 a share in 2013 and after-tax net mark-to-market gains of $35 million or $0.12 a share in 2012.

See “Results of Operations” below for further discussion and analysis of results of operations.

Liquidity and Capital Resources

The Companies’ liquidity reflects cash flows from operating, investing and financing activities, as shown on their respective consolidated statement of cash flows and as discussed below.

Changes in the Companies’ cash and temporary cash investments resulting from operating, investing and financing activities for the nine months ended September 30, 2013 and 2012 are summarized as follows:

Con Edison

	Con Edison									CECONY
(Millions of Dollars)	2013			2012			Variance			2013			2012			Variance
Operating activities	$	1,238		$	1,638		$	(400	)	$	1,369		$	1,463		$	(94	)
Investing activities		(1,895	)		(1,867	)		(28	)		(1,753	)		(1,483	)		(270	)
Financing activities		337			(350	)		687			69			(326	)		395
Net change		(320	)		(579	)		259			(315	)		(346	)		31
Balance at beginning of period		394			648			(254	)		353			372			(19	)
Balance at end of period	$	74		$	69		$	5		$	38		$	26		$	12

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Cash Flows from Operating Activities

The Utilities’ cash flows from operating activities reflect principally their energy sales and deliveries and cost of operations. The volume of energy sales and deliveries is dependent primarily on factors external to the Utilities, such as growth of customer demand, weather, market prices for energy, economic conditions and measures that promote energy efficiency. Under the revenue decoupling mechanisms in CECONY’s electric and gas rate plans and O&R’s New York electric and gas rate plans, changes in delivery volumes from levels assumed when rates were approved may affect the timing of cash flows but not net income. The prices at which the Utilities provide energy to their customers are determined in accordance with their rate agreements. In general, changes in the Utilities’ cost of purchased power, fuel and gas may affect the timing of cash flows but not net income because the costs are recovered in accordance with rate agreements.

Net income is the result of cash and non-cash (or accrual) transactions. Only cash transactions affect the Companies’ cash flows from operating activities. Principal non-cash charges include depreciation and deferred income tax expense. Principal non-cash credits include amortizations of certain net regulatory liabilities. Non-cash charges or credits may also be accrued under the revenue decoupling and cost reconciliation mechanisms in the Utilities’ electric and gas rate plans in New York.

Net cash flows from operating activities for the nine months ended September 30, 2013 for Con Edison and CECONY were $400 million and $94 million lower, respectively, than in 2012. The decrease in net cash flows for Con Edison reflects a special deposit the company made with federal and state tax agencies relating primarily to the LILO transactions. See “Lease In/Lease Out Transactions” in Note H to the Third Quarter Financial Statements. The decrease in net cash flows is also due to the increased pension contributions in 2013 ($91 million for Con Edison and $88 million for CECONY). The Companies contributed $878 million and $787 million (of which $821 million and $733 million was contributed by CECONY) to the pension plan during 2013 and 2012, respectively.

The change in net cash flows also reflects the timing of payments for and recovery of energy costs. This timing is reflected within changes to accounts receivable – customers, recoverable energy costs and accounts payable balances.

The changes in regulatory assets principally reflect changes in deferred pension costs in accordance with the accounting rules for retirement benefits.

Cash Flows Used in Investing Activities

Net cash flows used in investing activities for Con Edison and CECONY were $28 million and $270 million higher, respectively, for the nine months ended September 30, 2013 compared with the 2012 period. The changes for Con Edison and CECONY reflect primarily increased utility construction expenditures in 2013. In addition, for Con Edison, the change reflects

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increased non-utility construction expenditures, offset by the proceeds from the termination of the LILO transactions and the receipt of grants related to solar energy projects. See “Lease In/Lease Out Transactions” in Note H to the Third Quarter Financial Statements.

Cash Flows from Financing Activities

Net cash flows from financing activities for Con Edison and CECONY were $687 million and $395 million higher, respectively, in the nine months ended September 30, 2013 compared with the 2012 period.

In February 2013, CECONY issued $700 million of 3.95 percent 30-year debentures, the net proceeds from the sale of which were used to repay short-term borrowings and for other general corporate purposes. In February 2013, CECONY redeemed at maturity $500 million of 4.875 percent 10-year debentures. In June 2013, CECONY redeemed at maturity $200 million of 3.85 percent 10-year debentures.

In March 2012, CECONY issued $400 million 4.20 percent 30-year debentures, $239 million of the net proceeds from the sale of which were used to redeem all outstanding shares of its $5 Cumulative Preferred Stock and Cumulative Preferred Stock ($100 par value). In July 2012, CECONY redeemed at maturity $300 million of 5.625 percent 10-year debentures.

In April 2013, a Con Edison Development subsidiary issued $219 million aggregate principal amount of 4.78 percent senior notes secured by the company’s California solar energy projects. The notes have a weighted average life of 15 years and final maturity of 2037.

Cash flows from financing activities of the Companies also reflect commercial paper issuance. The commercial paper amounts outstanding at September 30, 2013 and 2012 and the average daily balances for the nine months ended September 30, 2013 and 2012 for Con Edison and CECONY were as follows:

	2013						2012
(Millions of Dollars, except Weighted Average Yield)	Outstanding at September 30			Daily average			Outstanding at September 30			Daily average
Con Edison		$1,220			$901			$340			$116
CECONY		$1,042			$557			$332			$112
Weighted average yield		0.3	%		0.3	%		0.3	%		0.3	%

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Other Changes in Assets and Liabilities

The following table shows changes in certain assets and liabilities at September 30, 2013, compared with December 31, 2012.

	Con Edison			CECONY
(Millions of Dollars)	2013 vs. 2012 Variance			2013 vs. 2012 Variance
Assets
Prepayments	$	362		$	347
Special deposits		305			21
Regulatory asset — Unrecognized pension and other postretirement costs		(666	)		(628	)
Liabilities
Notes payable	$	681		$	621
Accrued taxes		217			(17	)
Accrued interest		171			43
Deferred income taxes and investment tax credits		109			436
Pension and retiree benefits		(862	)		(806	)

Prepayments

The increase in prepayments for Con Edison and CECONY reflects the portion allocable to the 2013 fourth quarter of CECONY’s July 2013 payment of its New York City semi-annual property taxes.

Special Deposits, Accrued Taxes and Accrued Interest

The increases in Con Edison’s special deposits, accrued taxes and accrued interest reflect the impact of the LILO transactions. See Notes H and I to the Third Quarter Financial Statements.

Regulatory Asset for Unrecognized Pension, Notes Payable and Other Postretirement Costs and Noncurrent Liability for Pension and Retiree Benefits

The decrease in the regulatory asset for unrecognized pension and other postretirement costs and the noncurrent liability for pension and retiree benefits reflects the final actuarial valuation of the pension and other retiree benefit plans as measured at December 31, 2012, in accordance with the accounting rules for retirement benefits. The change in the regulatory asset also reflects the amortization of accounting costs. The decrease in the noncurrent liability for pension and retiree benefits and the increase in notes payable reflect in part contributions to the plans made by the Utilities in 2013. See Notes B, E and F to the Third Quarter Financial Statements.

Deferred Income Taxes and Investment Tax Credits

The increase in the liability for deferred income taxes and investment tax credits reflects the timing of the deduction of expenditures for utility plant which resulted in amounts being collected from customers to pay income taxes in advance of when the income tax payments will be required. For Con Edison, the increase was offset by the reduction in accumulated deferred income tax liabilities corresponding to the increase in accrued taxes with respect to the LILO transactions. See “Uncertain Tax Positions” in Note I to the Third Quarter Financial Statements.

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Capital Requirements and Resources

In October 2013, the NYSPSC approved transmission projects and energy efficiency and demand response programs to address concerns associated with potential closure of the nuclear power plants at the Indian Point Energy Center (which is owned by Entergy Corporation subsidiaries). The transmission projects, which also address transmission congestion between upstate and downstate and make available more generation from Staten Island, are scheduled to be placed into service by 2016. CECONY is to develop two of the transmission projects. The aggregate estimated cost of the CECONY projects, which has not been included in CECONY’s reported estimates of its construction expenditures, is $371 million. The projects are expected to be transferred to the proposed New York Transco that is to be owned by affiliates of the owners of transmission facilities in New York (including the Utilities). The NYSPSC also endorsed the method by which the costs and benefits associated with the projects will be allocated among load serving entities and filed with the Federal Energy Regulatory Commission (FERC). Additional authorizations will be required from the NYSPSC, FERC and other Federal, state and local agencies.

Con Edison has increased its estimate of capital expenditures in 2013 by its competitive energy businesses from $253 million to $400 million. See Note M to the Third Quarter Financial Statements.

For each of the Companies, the ratio of earnings to fixed charges (Securities and Exchange Commission basis) for the nine months ended September 30, 2013 and 2012 and the twelve months ended December 31, 2012 was:

	Ratio of Earnings to Fixed Charges
	For the Nine Months Ended September 30, 2013			For the Nine Months Ended September 30, 2012		For the Twelve Months Ended December 31, 2012
Con Edison		3.0	(a)		3.9		3.7
CECONY		4.0			3.9		3.7

(a) The decrease from prior period reflects the impact of the LILO transactions. See Notes H and I to the Third Quarter Financial Statements.

For each of the Companies, the common equity ratio at September 30, 2013 and December 31, 2012 was:

	Common Equity Ratio (Percent of total capitalization)
	September 30, 2013		December 31, 2012
Con Edison		53.7		54.1
CECONY		53.6		53.6

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Off-Balance Sheet Arrangements

The Companies have no off-balance sheet arrangements other than a guarantee ($80 million maximum) issued by Con Edison Development on behalf of an entity in which it acquired a 50 percent interest in July 2013 (see Notes H and M to the Third Quarter Financial Statements). The entity was formed to develop, construct and operate a photovoltaic solar energy generation facility with a capacity of 150 MW (AC) (with 92 MW (AC) currently in service). Con Edison Development is not the primary beneficiary of this entity since the power to direct the activities that most significantly impact the economics of the facility is shared equally between Con Edison Development and a third party. Currently, no payments are due under the guarantee. Con Edison Development’s share of the entity’s net income is included in Con Edison’s consolidated income statement.

Regulatory Matters

In November 2012, the Governor of New York established a commission to review actions taken by New York utilities relating to emergency weather events, including Superstorm Sandy and other major storms, and to make recommendations regarding, among other things, the oversight, management and legal framework governing power delivery services in New York. See “Other Regulatory Matters” in Note B to the Third Quarter Financial Statements. In March 2013, following the issuance of recommendations by the commission and submission by the Governor of a bill to the State legislature, the New York Public Service Law was amended to, among other things, authorize the NYSPSC to (i) levy expanded penalties against combination gas and electric utilities; (ii) review, at least every five years, an electric utility’s capability to provide safe, adequate and reliable service, order the utility to comply with additional and more stringent terms of service than existed prior to the review, assess the continued operation of the utility as the provider of electric service in its service territory and propose, and act upon, such measures as are necessary to ensure safe and adequate service; and (iii) based on findings of repeated violations of the New York Public Service Law or rules or regulations adopted thereto that demonstrate a failure of a combination gas and electric utility to continue to provide safe and adequate service, revoke or modify an operating certificate issued to the utility by the NYSPSC (following consideration of certain factors, including public interest and standards deemed necessary by the NYSPSC to ensure continuity of service, and due process).

In August 2013, the NYSPSC approved emergency response plans submitted by the Utilities, subject to certain modifications. Pursuant to the amended New York Public Service Law, each electric utility is required to submit to the NYSPSC annually a plan for the reasonably prompt restoration of service in the case of widespread outages in the utility’s service territory due to storms or other events beyond the control of the utility. If, after evidentiary hearings or other investigatory proceedings, the NYSPSC finds that the utility failed to implement its plan reasonably, the NYSPSC may deny recovery of any part of the service restoration costs caused by such failure.

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Financial and Commodity Market Risks

The Companies are subject to various risks and uncertainties associated with financial and commodity markets. The most significant market risks include interest rate risk, commodity price risk, credit risk and investment risk.

Interest Rate Risk

The interest rate risk relates primarily to variable rate debt and to new debt financing needed to fund capital requirements, including the construction expenditures of the Utilities and maturing debt securities. Con Edison and its businesses manage interest rate risk through the issuance of mostly fixed-rate debt with varying maturities and through opportunistic refinancing of debt. Con Edison and CECONY estimate that at September 30, 2013, a 10 percent increase in interest rates applicable to its variable rate debt would result in an increase in annual interest expense of $1 million. Under CECONY’s current gas, steam and electric rate plans, variations in actual long-term debt interest rates are reconciled to levels reflected in rates. Under O&R’s current New York rate plans, variations in actual tax-exempt (and under the gas rate plan, taxable) long-term debt interest expense are reconciled to the level set in rates.

In addition, from time to time, Con Edison and its businesses enter into derivative financial instruments to hedge interest rate risk on certain debt securities. See “Interest Rate Swap” in Note K to the Third Quarter Financial Statements.

Commodity Price Risk

Con Edison’s commodity price risk relates primarily to the purchase and sale of electricity, gas and related derivative instruments. The Utilities and Con Edison’s competitive energy businesses apply risk management strategies to mitigate their related exposures. See Note K to the Third Quarter Financial Statements.

Con Edison estimates that, as of September 30, 2013, a 10 percent decline in market prices would result in a decline in fair value of $47 million for the derivative instruments used by the Utilities to hedge purchases of electricity and gas, of which $39 million is for CECONY and $8 million is for O&R. Con Edison expects that any such change in fair value would be largely offset by directionally opposite changes in the cost of the electricity and gas purchased. In accordance with provisions approved by state regulators, the Utilities generally recover from customers the costs they incur for energy purchased for their customers, including gains and losses on certain derivative instruments used to hedge energy purchased and related costs.

Con Edison’s competitive energy businesses use a value-at-risk (VaR) model to assess the market risk of their electricity and gas commodity fixed-price purchase and sales commitments, physical forward contracts and commodity derivative instruments. VaR represents the potential change in fair value of instruments or the portfolio due to changes in market factors, for a specified time period and confidence level. These businesses estimate VaR across their electricity and natural gas commodity businesses using a delta-normal variance/covariance model with a 95 percent confidence level. Since the VaR calculation involves complex methodologies and estimates and

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assumptions that are based on past experience, it is not necessarily indicative of future results. VaR for transactions associated with hedges and commodity contracts, assuming a one-day holding period, for the nine months ended September 30, 2013 and the year ended December 31, 2012, respectively, was as follows:

95% Confidence Level, One-Day Holding Period	September 30, 2013		December 31, 2012
	(Millions of Dollars)
Average for the period	$	1	$	1
High		1		2
Low		—		—

Credit Risk

The Companies are exposed to credit risk related to transactions entered into primarily for the various energy supply and hedging activities by the Utilities and the competitive energy businesses. Credit risk relates to the loss that may result from a counterparty’s nonperformance. The Companies use credit policies to manage this risk, including an established credit approval process, monitoring of counterparty limits, netting provisions within agreements and collateral or prepayment arrangements, credit insurance and credit default swaps. The Companies measure credit risk exposure as the replacement cost for open energy commodity and derivative positions plus amounts owed from counterparties for settled transactions. The replacement cost of open positions represents unrealized gains, net of any unrealized losses where the Companies have a legally enforceable right of setoff. See “Credit Exposure” in Note K to the Third Quarter Financial Statements.

The Utilities had $17 million of credit exposure in connection with energy supply and hedging activities, net of collateral, at September 30, 2013, of which $16 million was with commodity exchange brokers and $1 million was with investment grade counterparties.

Con Edison’s competitive energy businesses had $93 million of credit exposure in connection with energy supply and hedging activities, net of collateral, at September 30, 2013, of which $42 million was with independent system operators, $29 million was with investment grade counterparties, $21 million was with commodity exchange brokers and $1 million was with non-investment grade or non-rated counterparties.

Investment Risk

The Companies’ investment risk relates to the investment of plan assets for their pension and other postretirement benefit plans. The Companies’ current investment policy for pension plan assets includes investment targets of 60 percent equities and 40 percent fixed income and other securities. At September 30, 2013, the pension plan investments consisted of 60 percent equity and 40 percent fixed income and other securities.

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Material Contingencies

For information concerning potential liabilities arising from the Companies’ material contingencies, see Notes B, G, and H to the Third Quarter Financial Statements.

Results of Operations

See “Results of Operations – Summary,” above.

Results of operations reflect, among other things, the Companies’ accounting policies and rate plans that limit the rates the Utilities can charge their customers. Under the revenue decoupling mechanisms currently applicable to CECONY’s electric and gas businesses and O&R’s electric and gas businesses in New York, the Utilities’ delivery revenues generally will not be affected by changes in delivery volumes from levels assumed when rates were approved. Revenues for CECONY’s steam business and O&R’s businesses in New Jersey and Pennsylvania are affected by changes in delivery volumes resulting from weather, economic conditions and other factors.

In general, the Utilities recover on a current basis the fuel, gas purchased for resale and purchased power costs they incur in supplying energy to their full-service customers. Accordingly, such costs do not generally affect the Companies’ results of operations. Management uses the term “net revenues” (operating revenues less such costs) to identify changes in operating revenues that may affect the Companies’ results of operations. Management believes that, although “net revenues” may not be a measure determined in accordance with accounting principles generally accepted in the United States of America, the measure facilitates the analysis by management and investors of the Companies’ results of operations.

Con Edison’s principal business segments are CECONY’s regulated utility activities, O&R’s regulated utility activities and Con Edison’s competitive energy businesses. CECONY’s principal business segments are its regulated electric, gas and steam utility activities. A discussion of the results of operations by principal business segment for the three and nine months ended September 30, 2013 and 2012 follows. For additional business segment financial information, see Note J to the Third Quarter Financial Statements.

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Three Months Ended September 30, 2013 Compared with Three Months Ended September 30, 2012

The Companies’ results of operations (which were discussed above under “Results of Operations – Summary”) in 2013 compared with 2012 were:

	CECONY						O&R						Competitive Energy Businesses and Other(a)						Con Edison(b)
(Millions of Dollars)	Increases (Decreases) Amount			Increases (Decreases) Percent			Increases (Decreases) Amount			Increases (Decreases) Percent			Increases (Decreases) Amount			Increases (Decreases) Percent			Increases (Decreases) Amount			Increases (Decreases) Percent
Operating revenues	$	25			0.9	%	$	—			—	%	$	21			6.1	%	$	46			1.3	%
Purchased power		20			3.3			(2	)		(2.9	)		(2	)		(0.8	)		16			1.7
Fuel		(3	)		(5.1	)		—			—			—			—			(3	)		(5.1	)
Gas purchased for resale		13			28.9			(1	)		(9.1	)		6			Large			18			32.1
Operating revenues less purchased power, fuel and gas purchased for resale (net revenues)		(5	)		(0.2	)		3			2.1			17			19.3			15			0.6
Other operations and maintenance		(39	)		(5.4	)		7			9.7			1			3.4			(31	)		(3.8	)
Depreciation and amortization		12			5.3			1			7.7			5			Large			18			7.5
Taxes, other than income taxes		24			5.3			—			—			—			—			24			5.0
Operating income		(2	)		(0.3	)		(5	)		(11.4	)		11			20.8			4			0.5
Other income less deductions		(1	)		Large			—			—			4			Large			3			Large
Net interest expense		(10	)		(7.2	)		2			33.3			2			25.0			(6	)		(3.9	)
Income before income tax expense		7			1.1			(7	)		(18.4	)		13			27.7			13			1.9
Income tax expense		(5	)		(2.2	)		(2	)		(14.3	)		(4	)		(20.0	)		(11	)		(4.2	)
Net income		12			3.1			(5	)		(20.8	)		17			63.0			24			5.5
Preferred stock dividend requirements		—			—			—			—			—			—			—			—
Net income for common stock	$	12			3.1	%	$	(5	)		(20.8	)%	$	17			63.0	%	$	24			5.5	%

(a) Includes inter-company and parent company accounting.

(b) Represents the consolidated financial results of Con Edison and its businesses.

CECONY

	Three Months Ended September 30, 2013										Three Months Ended September 30, 2012
(Millions of Dollars)	Electric		Gas			Steam			2013 Total		Electric		Gas			Steam			2012 Total		2013-2012 Variation
Operating revenues	$	2,622	$	199		$	72		$	2,893	$	2,611	$	189		$	68		$	2,868	$	25
Purchased power		615		—			9			624		597		—			7			604		20
Fuel		45		—			11			56		42		—			17			59		(3	)
Gas purchased for resale		—		58			—			58		—		45			—			45		13
Net revenues		1,962		141			52			2,155		1,972		144			44			2,160		(5	)
Operations and maintenance		565		75			46			686		601		81			43			725		(39	)
Depreciation and amortization		188		33			16			237		179		31			15			225		12
Taxes, other than income taxes		398		57			25			480		380		53			23			456		24
Operating income	$	811	$	(24	)	$	(35	)	$	752	$	812	$	(21	)	$	(37	)	$	754	$	(2	)

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Electric

CECONY’s results of electric operations for the three months ended September 30, 2013 compared with the 2012 period is as follows:

	Three Months Ended
(Millions of Dollars)	September 30, 2013		September 30, 2012		Variation
Operating revenues	$	2,622	$	2,611	$	11
Purchased power		615		597		18
Fuel		45		42		3
Net revenues		1,962		1,972		(10	)
Operations and maintenance		565		601		(36	)
Depreciation and amortization		188		179		9
Taxes, other than income taxes		398		380		18
Electric operating income	$	811	$	812		$(1	)

CECONY’s electric sales and deliveries, excluding off-system sales, for the three months ended September 30, 2013 compared with the 2012 period were:

	Millions of kWhs Delivered										Revenues in Millions
	Three Months Ended										Three Months Ended
Description	September 30, 2013		September 30, 2012		Variation			Percent Variation			September 30, 2013			September 30, 2012			Variation			Percent Variation
Residential/Religious(a)		3,460		3,735		(275	)		(7.4	)%	$	931		$	959			$(28	)		(2.9	)%
Commercial/Industrial		2,835		2,908		(73	)		(2.5	)		622			616			6			1.0
Retail access customers		7,889		7,874		15			0.2			889			894			(5	)		(0.6	)
NYPA, Municipal Agency and other sales		2,853		2,957		(104	)		(3.5	)		200			202			(2	)		(1.0	)
Other operating revenues		—		—		—			—			(20	)		(60	)		40			66.7
Total		17,037		17,474		(437	)		(2.5	)%	$	2,622		$	2,611		$	11			0.4	%

(a) “Residential/Religious” generally includes single-family dwellings, individual apartments in multi-family dwellings, religious organizations and certain other not-for-profit organizations.

CECONY’s electric operating revenues increased $11 million in the three months ended September 30, 2013 compared with the 2012 period due primarily to higher purchased power costs ($18 million) and fuel costs ($3 million), offset in part by lower revenues from the electric rate plan ($19 million, which includes a decrease of $45 million reflecting the use of certain regulatory liabilities in 2012 to offset a temporary surcharge under the electric rate plan). CECONY’s revenues from electric sales are subject to a revenue decoupling mechanism, as a result of which delivery revenues generally are not affected by changes in delivery volumes from levels assumed when rates were approved. Other electric operating revenues generally reflect changes in regulatory assets and liabilities in accordance with the revenue decoupling mechanism and other provisions of the company’s rate plans.

Electric delivery volumes in CECONY’s service area decreased 2.5 percent in the three months ended September 30, 2013 compared with the 2012 period. After adjusting for variations, principally weather and billing days, electric delivery volumes in CECONY’s service area decreased 2.2 percent in the three months ended September 30, 2013 compared with the 2012 period.

CECONY’s electric purchased power costs increased $18 million in the three months ended September 30, 2013 compared with the 2012 period due to an increase in unit costs ($29 million), offset by a decrease in purchased volumes ($11 million). Electric fuel costs increased $3 million in the three months ended September 30, 2013 compared with the 2012 period due to higher unit costs ($7 million), offset by lower sendout volumes from the company’s electric generating facilities ($4 million).

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CECONY’s electric operating income decreased $1 million in the three months ended September 30, 2013 compared with the 2012 period. The decrease reflects primarily lower net revenues ($10 million, due primarily to the electric rate plan), higher taxes other than income taxes ($18 million, principally property taxes) and higher depreciation and amortization ($9 million), offset by lower operations and maintenance costs ($36 million). Operations and maintenance expenses primarily reflect a decrease in pension costs ($30 million) in the 2013 period as compared to the 2012 period when certain pension costs that were deferred from earlier periods were recognized under the electric rate plan and increases in surcharges for assessments and fees that are collected in revenues from customers ($7 million).

Gas

CECONY’s results of gas operations for the three months ended September 30, 2013 compared with the 2012 period is as follows:

	Three Months Ended
(Millions of Dollars)	September 30, 2013			September 30, 2012			Variation
Operating revenues	$	199		$	189		$	10
Gas purchased for resale		58			45			13
Net revenues		141			144			(3	)
Operations and maintenance		75			81			(6	)
Depreciation and amortization		33			31			2
Taxes, other than income taxes		57			53			4
Gas operating income	$	(24	)	$	(21	)	$	(3	)

CECONY’s gas sales and deliveries, excluding off-system sales, for the three months ended September 30, 2013 compared with the 2012 period were:

	Thousands of dths Delivered										Revenues in Millions
	Three Months Ended										Three Months Ended
Description	September 30, 2013		September 30, 2012		Variation			Percent Variation			September 30, 2013			September 30, 2012		Variation			Percent Variation
Residential		3,405		2,971		434			14.6	%		$90			$75		$15			20.0	%
General		3,423		3,415		8			0.2			47			38		9			23.7
Firm transportation		7,090		6,752		338			5.0			53			47		6			12.8
Total firm sales and transportation		13,918		13,138		780			5.9			190			160		30			18.8
Interruptible sales (a)		2,341		1,217		1,124			92.4			3			—		3			Large
NYPA		13,844		13,716		128			0.9			—			1		(1	)		Large
Generation plants		23,447		29,644		(6,197	)		(20.9	)		7			10		(3	)		(30.0	)
Other		4,833		4,791		42			0.9			7			9		(2	)		(22.2	)
Other operating revenues		—		—		—			—			(8	)		9		(17	)		Large
Total		58,383		62,506		(4,123	)		(6.6	)%		$199			$189		$10			5.3	%

^(a)  Includes 1,530 and 280 thousands of dths for the 2013 and 2012 periods, respectively, which are also reflected in firm transportation and other.

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CECONY’s gas operating revenues increased $10 million in the three months ended September 30, 2013 compared with the 2012 period due primarily to an increase in gas purchased for resale costs ($13 million), offset in part by lower revenues from the gas rate plan ($1 million). CECONY’s revenues from gas sales are subject to a weather normalization clause and a revenue decoupling mechanism as a result of which delivery revenues are generally not affected by changes in delivery volumes from levels assumed when rates were approved. Other gas operating revenues generally reflect changes in regulatory assets and liabilities in accordance with the company’s rate plans.

CECONY’s sales and transportation volumes for firm customers increased 5.9 percent in the three months ended September 30, 2013 compared with the 2012 period. After adjusting for variations, principally weather and billing days, firm gas sales and transportation volumes in the company’s service area increased 6.2 percent in the three months ended September 30, 2013.

CECONY’s purchased gas cost increased $13 million in the three months ended September 30, 2013 compared with the 2012 period due to higher unit costs ($14 million), offset by lower sendout volumes ($1 million).

CECONY’s gas operating income decreased $3 million in the three months ended September 30, 2013 compared with the 2012 period. The decrease reflects higher taxes other than income taxes ($4 million, principally property taxes), lower net revenues ($3 million) and higher depreciation and amortization ($2 million), offset by lower operations and maintenance expense ($6 million).

Steam

CECONY’s results of steam operations for the three months ended September 30, 2013 compared with the 2012 period is as follows:

	Three Months Ended
(Millions of Dollars)	September 30, 2013			September 30, 2012			Variation
Operating revenues	$	72		$	68		$	4
Purchased power		9			7			2
Fuel		11			17			(6	)
Net revenues		52			44			8
Operations and maintenance		46			43			3
Depreciation and amortization		16			15			1
Taxes, other than income taxes		25			23			2
Steam operating income	$	(35	)	$	(37	)	$	2

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CECONY’s steam sales and deliveries for the three months ended September 30, 2013 compared with the 2012 period were:

	Millions of Pounds Delivered										Revenues in Millions
	Three Months Ended										Three Months Ended
Description	September 30, 2013		September 30, 2012		Variation			Percent Variation			September 30, 2013			September 30, 2012			Variation			Percent Variation
General		16		15		1			6.7	%	$	2		$	2		$	—			—	%
Apartment house		903		816		87			10.7			19			17			2			11.8
Annual power		3,112		3,487		(375	)		(10.8	)		58			59			(1	)		(1.7	)
Other operating revenues		—		—		—			—			(7	)		(10	)		3			30.0
Total		4,031		4,318		(287	)		(6.6	)%	$	72		$	68		$	4			5.9	%

CECONY’s steam operating revenues increased $4 million in the three months ended September 30, 2013 compared with the 2012 period due primarily to the net change in rates under the steam rate plans ($11 million) and higher purchased power costs ($2 million), offset in part by lower fuel costs ($6 million) and the weather impact on revenues ($2 million). Other steam operating revenues generally reflect changes in regulatory assets and liabilities in accordance with the company’s rate plans.

Steam sales and delivery volumes decreased 6.6 percent in the three months ended September 30, 2013 compared with the 2012 period. After adjusting for variations, principally weather and billing days, steam sales and deliveries decreased 7.1 percent in the three months ended September 30, 2013, reflecting lower average normalized use per customer.

CECONY’s steam fuel costs decreased $6 million in the three months ended September 30, 2013 compared with the 2012 period due to lower unit costs ($5 million) and sendout volumes ($1 million). Steam purchased power costs increased $2 million in the three months ended September 30, 2013 compared with the 2012 period due to an increase in unit costs ($2 million).

Steam operating income increased $2 million in the three months ended September 30, 2013 compared with the 2012 period. The increase reflects primarily higher net revenues ($8 million), offset in part by higher operations and maintenance expense ($3 million, due primarily to higher pension expense ($5 million), offset in part by lower surcharges for assessments and fees that are collected in revenues from customers ($1 million)), higher taxes, other than income taxes ($2 million, principally property taxes) and higher depreciation and amortization ($1 million).

Net Interest Expense

Net interest expense decreased $10 million in the three months ended September 30, 2013 compared with the 2012 period due primarily to lower accrued interest as a result of certain federal income tax benefits. See Note I to the Third Quarter Financial Statements.

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Income Taxes

Income taxes decreased $5 million in the three months ended September 30, 2013 compared with the 2012 period. See Note I to the Third Quarter Financial Statements.

O&R

	Three Months Ended September 30, 2013							Three Months Ended September 30, 2012
(Millions of Dollars)	Electric		Gas			2013 Total		Electric		Gas			2012 Total		2013-2012 Variation
Operating revenues	$	200	$	26		$	226	$	199	$	27		$	226	$	—
Purchased power		68		—			68		70		—			70		(2	)
Gas purchased for resale		—		10			10		—		11			11		(1	)
Net revenues		132		16			148		129		16			145		3
Operations and maintenance		64		15			79		57		15			72		7
Depreciation and amortization		10		4			14		10		3			13		1
Taxes, other than income taxes		12		4			16		12		4			16		—
Operating income	$	46		$(7	)	$	39	$	50		$(6	)	$	44		$(5	)

Electric

O&R’s results of electric operations for the three months ended September 30, 2013 compared with the 2012 period is as follows:

	Three Months Ended
(Millions of Dollars)	September 30, 2013		September 30, 2012		Variation
Operating revenues	$	200	$	199	$	1
Purchased power		68		70		(2	)
Net revenues		132		129		3
Operations and maintenance		64		57		7
Depreciation and amortization		10		10		—
Taxes, other than income taxes		12		12		—
Electric operating income	$	46	$	50		$(4	)

O&R’s electric sales and deliveries, excluding off-system sales, for the three months ended September 30, 2013 compared with the 2012 period were:

	Millions of kWhs Delivered										Revenues in Millions
	Three Months Ended										Three Months Ended
Description	September 30, 2013		September 30, 2012		Variation			Percent Variation			September 30, 2013		September 30, 2012		Variation			Percent Variation
Residential/Religious(a)		508		550		(42	)		(7.6	)%	$	94	$	97	$	(3	)		(3.1	)%
Commercial/Industrial		240		247		(7	)		(2.8	)		38		38		—			—
Retail access customers		889		885		4			0.5			61		59		2			3.4
Public authorities		28		32		(4	)		(12.5	)		3		3		—			—
Other operating revenues		—		—		—			—			4		2		2			Large
Total		1,665		1,714		(49	)		(2.9	)%	$	200	$	199	$	1			0.5	%

(a) “Residential/Religious” generally includes single-family dwellings, individual apartments in multi-family dwellings, religious organizations and certain other not-for-profit organizations.

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O&R’s electric operating revenues increased $1 million in the three months ended September 30, 2013 compared with the 2012 period due primarily to higher revenues from the New York electric rate plan ($4 million), offset in part by lower purchased power costs ($2 million). O&R’s New York electric delivery revenues are subject to a revenue decoupling mechanism, as a result of which delivery revenues are generally not affected by changes in delivery volumes from levels assumed when rates were approved. O&R’s electric sales in New Jersey and Pennsylvania are not subject to a decoupling mechanism, and as a result, changes in such volumes do impact revenues. Other electric operating revenues generally reflect changes in regulatory assets and liabilities in accordance with the company’s electric rate plan.

Electric delivery volumes in O&R’s service area decreased 2.9 percent in the three months ended September 30, 2013 compared with the 2012 period. After adjusting for variations, principally weather and billing days, electric delivery volumes in O&R’s service area decreased 2.6 percent in the three months ended September 30, 2013 compared with the 2012 period.

Electric operating income decreased $4 million in the three months ended September 30, 2013 compared with the 2012 period. The decrease reflects primarily higher operations and maintenance expense ($7 million, due primarily to an increase in the storm costs ($3 million) and surcharges for assessments and fees that are collected in revenues from customers ($2 million)), offset by higher net revenues ($3 million).

Gas

O&R’s results of gas operations for the three months ended September 30, 2013 compared with the 2012 period is as follows:

	Three Months Ended
(Millions of Dollars)	September 30, 2013			September 30, 2012			Variation
Operating revenues		$26			$27			$(1	)
Gas purchased for resale		10			11			(1	)
Net revenues		16			16			—
Operations and maintenance		15			15			—
Depreciation and amortization		4			3			1
Taxes, other than income taxes		4			4			—
Gas operating income		$(7	)		$(6	)		$(1	)

O&R’s gas sales and deliveries, excluding off-system sales, for the three months ended September 30, 2013 compared with the 2012 period were:

	Thousands of dths Delivered										Revenues in Millions
	Three Months Ended										Three Months Ended
Description	September 30, 2013		September 30, 2012		Variation			Percent Variation			September 30, 2013		September 30, 2012		Variation			Percent Variation
Residential		481		433		48			11.1	%	$	9	$	8	$	1			12.5	%
General		114		103		11			10.7			1		1		—			—
Firm transportation		1,050		910		140			15.4			10		9		1			11.1
Total firm sales and transportation		1,645		1,446		199			13.8			20		18		2			11.1
Interruptible sales		959		995		(36	)		(3.6	)		—		1		(1	)		Large
Generation plants		979		444		535			Large			—		—		—			—
Other		65		65		—			—			—		—		—			—
Other operating revenues		—		—		—			—			6		8		(2	)		(25.0	)
Total		3,648		2,950		698			23.7	%	$	26	$	27		$(1	)		(3.7)	%

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O&R’s gas operating revenues decreased $1 million in the three months ended September 30, 2013 compared with the 2012 period due primarily to the decrease in gas purchased for resale in 2013 ($1 million). O&R’s New York revenues from gas sales are subject to a revenue decoupling mechanism as a result of which delivery revenues are generally not affected by changes in delivery volumes from levels assumed when rates were approved.

Sales and transportation volumes for firm customers increased 13.8 percent in the three months ended September 30, 2013 compared with the 2012 period. After adjusting for variations, principally weather and billing days, total firm sales and transportation volumes increased 3.1 percent in the three months ended September 30, 2013 compared with the 2012 period.

Gas operating income decreased $1 million in the three months ended September 30, 2013 compared with the 2012 period. The decrease reflects primarily higher depreciation and amortization ($1 million).

Competitive Energy Businesses

The competitive energy businesses’ results of operations for the three months ended September 30, 2013 compared with the 2012 period is as follows:

	Three Months Ended
(Millions of Dollars)	September 30, 2013		September 30, 2012		Variation
Operating revenues	$	365	$	344	$	21
Purchased power		255		256		(1	)
Gas purchased for resale		6		—		6
Net revenues		104		88		16
Operations and maintenance		31		29		2
Depreciation and amortization		6		2		4
Taxes, other than income taxes		4		4		—
Operating income	$	63	$	53	$	10

The competitive energy businesses’ operating revenues increased $21 million in the three months ended September 30, 2013 compared with the 2012 period, due primarily to the gain on termination of a LILO transaction ($45 million, see “Lease In/Lease Out Transactions” in Note H to the Third Quarter Financial Statements), offset by lower electric retail and wholesale revenues. Electric retail revenues decreased $30 million, due to lower sales volume ($43 million), offset by higher unit prices ($13 million). Electric wholesale revenues decreased $14 million in the three

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months ended September 30, 2013 as compared with the 2012 period, due to lower sales volumes. Solar revenues increased $17 million in the three months ended September 30, 2013 as compared with the 2012 period reflecting an increase in solar energy projects in service. Other revenues increased $3 million in the three months ended September 30, 2013 as compared with the 2012 period.

Purchased power costs decreased $1 million in the three months ended September 30, 2013 compared with the 2012 period, due primarily to lower volumes ($51 million, offset by higher unit prices ($26 million) and changes in mark-to-market values ($24 million)).

Operating income increased $10 million in 2013 compared with 2012 due primarily to the gain on termination of a LILO transaction ($45 million), offset in part by net mark-to-market effects ($24 million), higher depreciation and amortization ($4 million), lower net revenues ($5 million) and higher operations and maintenance expense ($2 million).

Other

For Con Edison, “Other” also includes inter-company eliminations relating to operating revenues and operating expenses.

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Nine Months Ended September 30, 2013 Compared with Nine Months Ended September 30, 2012

The Companies’ results of operations (which were discussed above under “Results of Operations – Summary”) in 2013 compared with 2012 were:

	CECONY						O&R						Competitive Energy Businesses and Other(a)						Con Edison(b)
(Millions of Dollars)	Increases (Decreases) Amount			Increases (Decreases) Percent			Increases (Decreases) Amount			Increases (Decreases) Percent			Increases (Decreases) Amount			Increases (Decreases) Percent			Increases (Decreases) Amount			Increases (Decreases) Percent
Operating revenues	$	283			3.7	%	$	34			5.7	%		$(117	)		(12.3	)%	$	200			2.2	%
Purchased power		(6	)		(0.4	)		19			12.7			(32	)		(4.3	)		(19	)		(0.8	)
Fuel		48			22.5			—			—			—			—			48			22.5
Gas purchased for resale		112			42.4			2			4.2			15			Large			129			41.1
Operating revenues less purchased power, fuel and gas purchased for resale (net revenues)		129			2.3			13			3.2			(100	)		(47.6	)		42			0.7
Operations and maintenance		37			1.8			6			2.7			(8	)		(9.9	)		35			1.5
Depreciation and amortization		41			6.2			3			7.7			11			Large			55			7.8
Taxes, other than income taxes		70			5.4			3			6.7			(2	)		(13.3	)		71			5.2
Operating income		(19	)		(1.1	)		1			1.0			(101	)		(93.5	)		(119	)		(6.3	)
Other income less deductions		—			—			1			Large			4			66.7			5			Large
Net interest expense		(18	)		(4.4	)		7			31.8			131			Large			120			26.4
Income before income tax expense		(1	)		(0.1	)		(5	)		(6.4	)		(228	)		Large			(234	)		(16.3	)
Income tax expense		(5	)		(1.1	)		(7	)		(29.2	)		(116	)		Large			(128	)		(25.5	)
Net income		4			0.5			2			3.7			(112	)		Large			(106	)		(11.3	)
Preferred stock dividend requirements		(3	)		Large			—			—			—			—			(3	)		Large
Net income for common stock	$	7			0.8	%	$	2			3.7	%		$(112	)		Large			$(103	)		(11.1	)%

(a) Includes inter-company and parent company accounting.

(b) Represents the consolidated financial results of Con Edison and its businesses.

CECONY

	Nine Months Ended September 30, 2013								Nine Months Ended September 30, 2012
(Millions of Dollars)	Electric		Gas		Steam		2013 Total		Electric		Gas		Steam		2012 Total		2013-2012 Variation
Operating revenues	$	6,309	$	1,190	$	522	$	8,021	$	6,307	$	1,017	$	414	$	7,738	$	283
Purchased power		1,515		—		33		1,548		1,527		—		27		1,554		(6	)
Fuel		139		—		122		261		122		—		91		213		48
Gas purchased for resale		—		376		—		376		—		264		—		264		112
Net revenues		4,655		814		367		5,836		4,658		753		296		5,707		129
Operations and maintenance		1,681		262		159		2,102		1,691		242		132		2,065		37
Depreciation and amortization		559		97		49		705		527		89		48		664		41
Taxes, other than income taxes		1,108		183		79		1,370		1,057		167		76		1,300		70
Operating income	$	1,307	$	272	$	80	$	1,659	$	1,383	$	255	$	40	$	1,678		$(19	)

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Electric

CECONY’s results of electric operations for the nine months ended September 30, 2013 compared with the 2012 period is as follows:

	Nine Months Ended
(Millions of Dollars)	September 30, 2013		September 30, 2012		Variation
Operating revenues	$	6,309	$	6,307	$	2
Purchased power		1,515		1,527		(12	)
Fuel		139		122		17
Net revenues		4,655		4,658		(3	)
Operations and maintenance		1,681		1,691		(10	)
Depreciation and amortization		559		527		32
Taxes, other than income taxes		1,108		1,057		51
Electric operating income	$	1,307	$	1,383		$(76	)

CECONY’s electric sales and deliveries, excluding off-system sales, for the nine months ended September 30, 2013 compared with the 2012 period were:

	Millions of kWhs Delivered										Revenues in Millions
	Nine Months Ended										Nine Months Ended
Description	September 30, 2013		September 30, 2012		Variation			Percent Variation			September 30, 2013		September 30, 2012		Variation			Percent Variation
Residential/Religious(a)		8,025		8,393		(368	)		(4.4	)%	$	2,154	$	2,147	$	7			0.3	%
Commercial/Industrial		7,488		7,561		(73	)		(1.0	)		1,548		1,526		22			1.4
Retail access customers		20,238		19,768		470			2.4			2,073		2,117		(44	)		(2.1	)
NYPA, Municipal Agency and other sales		7,794		8,233		(439	)		(5.3	)		474		477		(3	)		(0.6	)
Other operating revenues		—		—		—			—			60		40		20			50.0
Total		43,545		43,955		(410	)		(0.9	)%	$	6,309	$	6,307	$	2			—	%

(a) “Residential/Religious” generally includes single-family dwellings, individual apartments in multi-family dwellings, religious organizations and certain other not-for-profit organizations.

CECONY’s electric operating revenues increased $2 million in the nine months ended September 30, 2013 compared with the 2012 period due primarily to higher fuel costs ($17 million), offset in part by lower purchased power costs ($12 million) and lower revenues from the electric rate plan ($3 million, which includes a decrease of $45 million reflecting the use of certain regulatory liabilities in 2012 to offset a temporary surcharge under the electric rate plan). CECONY’s revenues from electric sales are subject to a revenue decoupling mechanism, as a result of which delivery revenues generally are not affected by changes in delivery volumes from levels assumed when rates were approved. Other electric operating revenues generally reflect changes in regulatory assets and liabilities in accordance with the revenue decoupling mechanism and other provisions of the company’s rate plans.

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Electric delivery volumes in CECONY’s service area decreased 0.9 percent in the nine months ended September 30, 2013 compared with the 2012 period. After adjusting for variations, principally weather and billing days, electric delivery volumes in CECONY’s service area decreased 1.5 percent in the nine months ended September 30, 2013 compared with the 2012 period.

CECONY’s electric purchased power costs decreased $12 million in the nine months ended September 30, 2013 compared with the 2012 period due to a decrease in purchased volumes ($82 million), offset by an increase in unit costs ($70 million). Electric fuel costs increased $17 million in the nine months ended September 30, 2013 compared with the 2012 period due to higher unit costs ($16 million) and sendout volumes from the company’s electric generating facilities ($1 million).

CECONY’s electric operating income decreased $76 million in the nine months ended September 30, 2013 compared with the 2012 period. The decrease reflects primarily higher taxes other than income taxes ($51 million, principally property taxes), higher depreciation and amortization ($32 million), lower net revenues ($3 million, due primarily to the electric rate plan), offset in part by lower operations and maintenance costs ($10 million). Operations and maintenance expenses reflect a decrease in pension costs ($22 million) in the 2013 period as compared to the 2012 period when certain pension costs that were deferred from earlier periods were recognized under the electric rate plan, offset in part by higher operating costs attributable to weather-related events ($13 million).

Gas

CECONY’s results of gas operations for the nine months ended September 30, 2013 compared with the 2012 period is as follows:

	Nine Months Ended
(Millions of Dollars)	September 30, 2013		September 30, 2012		Variation
Operating revenues	$	1,190	$	1,017	$	173
Gas purchased for resale		376		264		112
Net revenues		814		753		61
Operations and maintenance		262		242		20
Depreciation and amortization		97		89		8
Taxes, other than income taxes		183		167		16
Gas operating income	$	272	$	255	$	17

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CECONY’s gas sales and deliveries, excluding off-system sales, for the nine months ended September 30, 2013 compared with the 2012 period were:

	Thousands of dths Delivered										Revenues in Millions
	Nine Months Ended										Nine Months Ended
Description	September 30, 2013		September 30, 2012		Variation			Percent Variation			September 30, 2013			September 30, 2012			Variation			Percent Variation
Residential		28,795		24,590		4,205			17.1	%	$	542		$	450		$	92			20.4	%
General		21,515		18,012		3,503			19.4			253			211			42			19.9
Firm transportation		45,329		38,620		6,709			17.4			308			284			24			8.5
Total firm sales and transportation		95,639		81,222		14,417			17.8			1,103			945			158			16.7
Interruptible sales (a)		7,956		4,542		3,414			75.2			40			24			16			66.7
NYPA		37,011		34,285		2,726			8.0			2			2			—			—
Generation plants		49,766		63,161		(13,395	)		(21.2	)		19			23			(4	)		(17.4	)
Other		18,576		17,128		1,448			8.5			40			30			10			33.3
Other operating revenues		—		—		—			—			(14	)		(7	)		(7	)		Large
Total		208,948		200,338		8,610			4.3	%	$	1,190		$	1,017		$	173			17.0	%

(a) Includes 3,727 and 461 thousands of dths for the 2013 and 2012 period, respectively, which are also reflected in firm transportation and other.

CECONY’s gas operating revenues increased $173 million in the nine months ended September 30, 2013 compared with the 2012 period due primarily to an increase in gas purchased for resale costs ($112 million) and higher revenues from the gas rate plan ($54 million). CECONY’s revenues from gas sales are subject to a weather normalization clause and a revenue decoupling mechanism as a result of which delivery revenues are generally not affected by changes in delivery volumes from levels assumed when rates were approved. Other gas operating revenues generally reflect changes in regulatory assets and liabilities in accordance with the company’s rate plans.

CECONY’s sales and transportation volumes for firm customers increased 17.8 percent in the nine months ended September 30, 2013 compared with the 2012 period. After adjusting for variations, principally weather and billing days, firm gas sales and transportation volumes in the company’s service area increased 3.2 percent in the nine months ended September 30, 2013.

CECONY’s purchased gas cost increased $112 million in the nine months ended September 30, 2013 compared with the 2012 period due to higher unit costs ($58 million) and sendout volumes ($54 million).

CECONY’s gas operating income increased $17 million in the nine months ended September 30, 2013 compared with the 2012 period. The increase reflects primarily higher net revenue ($61 million), offset by higher operations and maintenance expense ($20 million, due primarily to an increase in the surcharges for assessments and fees that are collected in revenues from customers ($25 million), offset in part by lower healthcare costs ($3 million)), higher taxes other than income taxes ($16 million, principally property taxes and local revenue taxes) and higher depreciation and amortization ($8 million).

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Steam

CECONY’s results of steam operations for the nine months ended September 30, 2013 compared with the 2012 period is as follows:

	Nine Months Ended
(Millions of Dollars)	September 30, 2013		September 30, 2012		Variation
Operating revenues	$	522	$	414	$	108
Purchased power		33		27		6
Fuel		122		91		31
Net revenues		367		296		71
Operations and maintenance		159		132		27
Depreciation and amortization		49		48		1
Taxes, other than income taxes		79		76		3
Steam operating income	$	80	$	40	$	40

CECONY’s steam sales and deliveries for the nine months ended September 30, 2013 compared with the 2012 period were:

	Millions of Pounds Delivered									Revenues in Millions
	Nine Months Ended									Nine Months Ended
Description	September 30, 2013		September 30, 2012		Variation		Percent Variation			September 30, 2013			September 30, 2012			Variation		Percent Variation
General		400		308		92		29.9	%	$	24		$	18		$	6		33.3	%
Apartment house		4,630		3,858		772		20.0			146			112			34		30.4
Annual power		11,658		10,999		659		6.0			383			315			68		21.6
Other operating revenues		—		—		—		—			(31	)		(31	)		—		—
Total		16,688		15,165		1,523		10.0	%	$	522		$	414		$	108		26.1	%

CECONY’s steam operating revenues increased $108 million in the nine months ended September 30, 2013 compared with the 2012 period due primarily to the weather impact on revenues ($44 million), higher fuel costs ($31 million), the net change in rates under the steam rate plans ($28 million) and higher purchased power costs ($6 million). Other steam operating revenues generally reflect changes in regulatory assets and liabilities in accordance with the company’s rate plans.

Steam sales and delivery volumes increased 10.0 percent in the nine months ended September 30, 2013 compared with the 2012 period. After adjusting for variations, principally weather and billing days, steam sales and deliveries decreased 4.0 percent in the nine months ended September 30, 2013, reflecting lower average normalized use per customer.

CECONY’s steam fuel costs increased $31 million in the nine months ended September 30, 2013 compared with the 2012 period due to higher unit costs ($20 million) and sendout volumes ($11 million). Steam purchased power costs increased $6 million in the nine months ended September 30, 2013 compared with the 2012 period due to an increase in unit costs ($6 million).

Steam operating income increased $40 million in the nine months ended September 30, 2013 compared with the 2012 period. The increase reflects primarily higher net revenues ($71 million), offset in part by higher operations and maintenance expense ($27 million, due primarily to higher pension expense ($21 million) and higher surcharges for assessments and fees

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that are collected in revenues from customers ($3 million)), higher taxes other than income taxes ($3 million, principally local revenue taxes), and higher depreciation and amortization ($1 million).

Net Interest Expense

Net interest expense decreased $18 million in the nine months ended September 30, 2013 compared with the 2012 period due primarily to lower interest charges on long-term debt and lower accrued interest as a result of certain federal income tax benefits. See Note I to the Third Quarter Financial Statements.

O&R

	Nine Months Ended September 30, 2013						Nine Months Ended September 30, 2012
(Millions of Dollars)	Electric		Gas		2013 Total		Electric		Gas		2012 Total		2013-2012 Variation
Operating revenues	$	492	$	143	$	635	$	457	$	144	$	601	$	34
Purchased power		169		—		169		150		—		150		19
Gas purchased for resale		—		50		50		—		48		48		2
Net revenues		323		93		416		307		96		403		13
Operations and maintenance		176		49		225		171		48		219		6
Depreciation and amortization		31		11		42		28		11		39		3
Taxes, other than income taxes		35		13		48		34		11		45		3
Operating income	$	81	$	20	$	101	$	74	$	26	$	100	$	1

Electric

O&R’s results of electric operations for the nine months ended September 30, 2013 compared with the 2012 period is as follows:

	Nine Months Ended
(Millions of Dollars)	September 30, 2013		September 30, 2012		Variation
Operating revenues	$	492	$	457	$	35
Purchased power		169		150		19
Net revenues		323		307		16
Operations and maintenance		176		171		5
Depreciation and amortization		31		28		3
Taxes, other than income taxes		35		34		1
Electric operating income	$	81	$	74	$	7

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O&R’s electric sales and deliveries, excluding off-system sales, for the nine months ended September 30, 2013 compared with the 2012 period were:

	Millions of kWhs Delivered										Revenues in Millions
	Nine Months Ended										Nine Months Ended
Description	September 30, 2013		September 30, 2012		Variation			Percent Variation			September 30, 2013		September 30, 2012		Variation		Percent Variation
Residential/Religious(a)		1,235		1,297		(62	)		(4.8	)%	$	224	$	210	$	14		6.7	%
Commercial/Industrial		667		736		(69	)		(9.4	)		100		94		6		6.4
Retail access customers		2,394		2,315		79			3.4			148		138		10		7.2
Public authorities		79		89		(10	)		(11.2	)		8		7		1		14.3
Other operating revenues		—		—		—			—			12		8		4		50.0
Total		4,375		4,437		(62	)		(1.4	)%	$	492	$	457	$	35		7.7	%

(a) “Residential/Religious” generally includes single-family dwellings, individual apartments in multi-family dwellings, religious organizations and certain other not-for-profit organizations.

O&R’s electric operating revenues increased $35 million in the nine months ended September 30, 2013 compared with the 2012 period due primarily to higher purchased power costs ($19 million) and higher revenues from the New York electric rate plan ($11 million). O&R’s New York electric delivery revenues are subject to a revenue decoupling mechanism, as a result of which delivery revenues are generally not affected by changes in delivery volumes from levels assumed when rates were approved. O&R’s electric sales in New Jersey and Pennsylvania are not subject to a decoupling mechanism, and as a result, changes in such volumes do impact revenues. Other electric operating revenues generally reflect changes in regulatory assets and liabilities in accordance with the company’s electric rate plan.

Electric delivery volumes in O&R’s service area decreased 1.4 percent in the nine months ended September 30, 2013 compared with the 2012 period. After adjusting for variations, principally weather and billing days, electric delivery volumes in O&R’s service area decreased 1.6 percent in the nine months ended September 30, 2013 compared with the 2012 period.

Electric operating income increased $7 million in the nine months ended September 30, 2013 compared with the 2012 period. The increase reflects primarily higher net revenues ($16 million), offset by higher operations and maintenance expense ($5 million, due primarily to an increase in the surcharges for assessments and fees that are collected in revenues from customers), higher depreciation and amortization ($3 million) and higher taxes other than income taxes ($1 million).

Gas

O&R’s results of gas operations for the nine months ended September 30, 2013 compared with the 2012 period is as follows:

	Nine Months Ended
(Millions of Dollars)	September 30, 2013		September 30, 2012		Variation
Operating revenues	$	143	$	144		$(1	)
Gas purchased for resale		50		48		2
Net revenues		93		96		(3	)
Operations and maintenance		49		48		1
Depreciation and amortization		11		11		—
Taxes, other than income taxes		13		11		2
Gas operating income	$	20	$	26		$(6	)

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O&R’s gas sales and deliveries, excluding off-system sales, for the nine months ended September 30, 2013 compared with the 2012 period were:

	Thousands of dths Delivered										Revenues in Millions
	Nine Months Ended										Nine Months Ended
Description	September 30, 2013		September 30, 2012		Variation			Percent Variation			September 30, 2013		September 30, 2012		Variation			Percent Variation
Residential		4,894		4,114		780			19.0	%	$	66	$	59	$	7			11.9	%
General		1,066		827		239			28.9			12		10		2			20.0
Firm transportation		8,186		6,860		1,326			19.3			55		54		1			1.9
Total firm sales and transportation		14,146		11,801		2,345			19.9			133		123		10			8.1
Interruptible sales		3,116		3,250		(134	)		(4.1	)		2		3		(1	)		(33.3	)
Generation plants		1,345		444		901			Large			—		—		—			—
Other		600		506		94			18.6			—		—		—			—
Other operating revenues		—		—		—			—			8		18		(10	)		(55.6	)
Total		19,207		16,001		3,206			20.0	%	$	143	$	144		$(1	)		(0.7	)%

O&R’s gas operating revenues decreased $1 million in the nine months ended September 30, 2013 compared with the 2012 period due primarily to the gas rate plan, offset in part by the increase in gas purchased for resale ($2 million). O&R’s New York revenues from gas sales are subject to a weather normalization clause and a revenue decoupling mechanism as a result of which delivery revenues are generally not affected by changes in delivery volumes from levels assumed when rates were approved.

Sales and transportation volumes for firm customers increased 19.9 percent in the nine months ended September 30, 2013 compared with the 2012 period. After adjusting for variations, principally weather and billing days, total firm sales and transportation volumes increased 0.5 percent in the nine months ended September 30, 2013 compared with the 2012 period.

Gas operating income decreased $6 million in the nine months ended September 30, 2013 compared with the 2012 period. The decrease reflects primarily lower net revenues ($3 million), higher taxes other than income taxes ($2 million) and higher operations and maintenance expense ($1 million).

Income Taxes

Income taxes decreased $7 million in the nine months ended September 30, 2013 compared with the 2012 period due primarily to changes in estimates of accumulated deferred income taxes.

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Competitive Energy Businesses

The competitive energy businesses’ results of operations for the nine months ended September 30, 2013 compared with the 2012 period is as follows:

	Nine Months Ended
(Millions of Dollars)	September 30, 2013		September 30, 2012		Variation
Operating revenues	$	834	$	954		$(120	)
Purchased power		705		736		(31	)
Gas purchased for resale		17		2		15
Net revenues		112		216		(104	)
Operations and maintenance		76		85		(9	)
Depreciation and amortization		16		6		10
Taxes, other than income taxes		13		14		(1	)
Operating income	$	7	$	111		$(104	)

The competitive energy businesses’ operating revenues decreased $120 million in the nine months ended September 30, 2013 compared with the 2012 period, due primarily to the impact of the termination of the LILO transactions ($27 million, see “Lease In/Lease Out Transactions” in Note H to the Third Quarter Financial Statements) and lower electric retail and wholesale revenues. Electric retail revenues decreased $87 million, due to lower sales volume ($115 million), offset by higher unit prices ($28 million). Electric wholesale revenues decreased $48 million in the nine months ended September 30, 2013 as compared with the 2012 period, due to lower sales volumes ($41 million) and unit prices ($7 million). Net mark-to-market values decreased $40 million in the nine months ended September 30, 2013 as compared with the 2012 period, of which $53 million in losses are reflected in purchased power costs and $13 million in gains are reflected in revenues. Solar revenues increased $31 million in the nine months ended September 30, 2013 as compared with the 2012 period reflecting an increase in solar energy projects in service. Other revenues decreased $2 million in the nine months ended September 30, 2013 as compared with the 2012 period.

Purchased power costs decreased $31 million in the nine months ended September 30, 2013 compared with the 2012 period, due primarily to lower volumes ($149 million), offset by higher unit prices ($65 million) and changes in mark-to-market values ($53 million).

Operating income decreased $104 million in 2013 compared with 2012 due primarily to net mark-to-market effects ($40 million), lower net revenues ($37 million) and the impact of the termination of the LILO transactions ($27 million).

Net Interest Expense

Net interest expense increased $132 million in the nine months ended September 30, 2013 compared with the 2012 period, due primarily to the impact of the LILO transactions. See Notes H and I to the Third Quarter Financial Statements.

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Income Taxes

Income taxes decreased $112 million in the nine months ended September 30, 2013 compared with the 2012 period, due primarily to lower income before income tax expense and a tax benefit resulting from the acceptance by the IRS of the company’s claim for manufacturing tax deductions (see Note I to the Third Quarter Financial Statements).

Other

For Con Edison, “Other” also includes inter-company eliminations relating to operating revenues and operating expenses.

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Item 3: Quantitative and Qualitative Disclosures About Market Risk

For information about the Companies’ primary market risks associated with activities in derivative financial instruments, other financial instruments and derivative commodity instruments, see “Financial and Commodity Market Risks,” in Part I, Item 2 of this report, which information is incorporated herein by reference.

Item 4: Controls and Procedures

The Companies maintain disclosure controls and procedures designed to provide reasonable assurance that the information required to be disclosed in the reports that they submit to the Securities and Exchange Commission (SEC) is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the SEC. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Securities Exchange Act of 1934, as amended, is accumulated and communicated to the issuer’s management, including its principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure. For each of the Companies, its management, with the participation of its principal executive officer and principal financial officer, has evaluated its disclosure controls and procedures as of the end of the period covered by this report and, based on such evaluation, has concluded that the controls and procedures are effective to provide such reasonable assurance. Reasonable assurance is not absolute assurance, however, and there can be no assurance that any design of controls or procedures would be effective under all potential future conditions, regardless of how remote.

There was no change in the Companies’ internal control over financial reporting that occurred during the Companies’ most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Companies’ internal control over financial reporting.

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Part II Other Information

Item 1: Legal Proceedings

For information about certain legal proceedings affecting the Companies, see Notes B, G and H to the financial statements in Part I, Item 1 of this report, which information is incorporated herein by reference and the following paragraphs.

CECONY - Superfund – Gowanus Canal

In September 2013, the U.S. Environmental Protection Agency (EPA) issued its record of decision for the Gowanus Canal Superfund Site. The EPA concluded that there was significant contamination at the site, including polycyclic aromatic hydrocarbons, polychlorinated biphenyls (PCBs), pesticides, metals, and volatile organic compounds. The EPA selected a remedy for the site that includes dredging, capping and disposal of contaminated sediments. The EPA estimated the cost of the selected remedy to be $506.1 million (and indicated the actual cost could be significantly higher or lower). The EPA has identified 35 potentially responsible parties (PRPs) with respect to the site, including CECONY (which the EPA indicated has facilities that may be a source of PCBs at the site). The EPA is seeking to have one or more of the PRPs, by December 2013, agree to perform the remedial design for the selected remedy. Absent such agreement, the EPA stated that it will proceed with its enforcement options, which may include performing the work itself (the cost of which the PRPs may be liable for) and/or requiring one or more of the PRPs to perform the remedial design. CECONY is unable to predict its exposure to liability with respect to the site.

O&R - Superfund - Newark Bay

In August 2013, O&R agreed to pay less than $100,000 to settle claims against O&R by Tierra Solutions, Inc. and Maxus Energy Corporation seeking equitable contribution for removal and cleanup costs, punitive damages, penalties, and economic losses allegedly arising from contamination allegedly released to the “Newark Bay Complex,” a system of waterways including Newark Bay, the Arthur Kill, the Kill Van Kull, and lower portions of the Passaic and Hackensack Rivers.

Item 1A: Risk Factors

There were no material changes in the Companies’ risk factors compared to those disclosed in Item 1A of the Form 10-K other than the resolution of the Internal Revenue Service’s disallowance of substantial tax deductions taken by the company. See “Lease In/Lease Out Transactions” in Note H and Note I to the Third Quarter Financial Statements.

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Item 2: Unregistered Sales of Equity Securities and Use of Proceeds

ISSUER PURCHASES OF EQUITY SECURITIES

Period	Total Number of Shares (or Units) Purchased*		Average Price Paid per Share (or Unit)		Total Number of Shares (or Units) Purchased as Part of Publicly Announced Plans or Programs		Maximum Number (or Appropriate Dollar Value) of Shares (or Units) that May Yet Be Purchased Under the Plans or Programs
July 1, 2013 to July 31, 2013		187,066	$	59.95		—		—
August 1, 2013 to August 31, 2013		45,964		58.20		—		—
September 1, 2013 to September 30, 2013		—		—		—		—
Total		233,030	$	59.60		—		—

* Represents Con Edison common shares purchased in open-market transactions. The number of shares purchased approximated the number of treasury shares used for the company’s employee stock plans.

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Item 6: Exhibits

CON EDISON

Exhibit 10.1.1	Consolidated Edison, Inc. Long Term Incentive Plan (incorporated by reference to Exhibit 10 to Con Edison’s Current Report on Form 8-K, dated May 20, 2013 – File No. 1-14514).
Exhibit 10.1.2	Form of Performance Unit Award for Officers under the Consolidated Edison, Inc. Long Term Incentive Plan.
Exhibit 10.1.3	Extension Agreement, effective August 29, 2013, among CECONY, Con Edison, O&R, the lenders party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent (incorporated by reference to Exhibit 10 to Con Edison’s Current Report on Form 8-K, dated August 29, 2013 – File No. 1-14514).
Exhibit 10.1.4	Extension Agreement, effective October 23, 2013, among CECONY, Con Edison, O&R, the lender party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent.
Exhibit 10.1.5	Amendment, executed effective as of October 23, 2013, to The Consolidated Edison Retirement Plan.
Exhibit 10.1.6	Amendment, executed effective as of October 23, 2013, to The Consolidated Edison Thrift Plan.
Exhibit 12.1	Statement of computation of Con Edison’s ratio of earnings to fixed charges for the nine-month periods ended September 30, 2013 and 2012, and the 12-month period ended December 31, 2012.
Exhibit 31.1.1	Rule 13a-14(a)/15d-14(a) Certifications – Chief Executive Officer.
Exhibit 31.1.2	Rule 13a-14(a)/15d-14(a) Certifications – Chief Financial Officer.
Exhibit 32.1.1	Section 1350 Certifications – Chief Executive Officer.
Exhibit 32.1.2	Section 1350 Certifications – Chief Financial Officer.
Exhibit 101.INS	XBRL Instance Document.
Exhibit 101.SCH	XBRL Taxonomy Extension Schema.
Exhibit 101.CAL	XBRL Taxonomy Extension Calculation Linkbase.
Exhibit 101.DEF	XBRL Taxonomy Extension Definition Linkbase.
Exhibit 101.LAB	XBRL Taxonomy Extension Label Linkbase.
Exhibit 101.PRE	XBRL Taxonomy Extension Presentation Linkbase.

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CECONY

Exhibit 12.2	Statement of computation of CECONY’s ratio of earnings to fixed charges for the nine-month periods ended September 30, 2013 and 2012, and the 12-month period ended December 31, 2012.
Exhibit 31.2.1	Rule 13a-14(a)/15d-14(a) Certifications – Chief Executive Officer.
Exhibit 31.2.2	Rule 13a-14(a)/15d-14(a) Certifications – Chief Financial Officer.
Exhibit 32.2.1	Section 1350 Certifications – Chief Executive Officer.
Exhibit 32.2.2	Section 1350 Certifications – Chief Financial Officer.
Exhibit 101.INS	XBRL Instance Document.
Exhibit 101.SCH	XBRL Taxonomy Extension Schema.
Exhibit 101.CAL	XBRL Taxonomy Extension Calculation Linkbase.
Exhibit 101.DEF	XBRL Taxonomy Extension Definition Linkbase.
Exhibit 101.LAB	XBRL Taxonomy Extension Label Linkbase.
Exhibit 101.PRE	XBRL Taxonomy Extension Presentation Linkbase.

Pursuant to Item 601(b)(4)(iii)(A) of Regulation S-K, instruments defining the rights of holders of long-term debt of Con Edison’s subsidiaries other than CECONY, the total amount of which does not exceed ten percent of the total assets of Con Edison and its subsidiaries on a consolidated basis, are not filed as exhibits to Con Edison’s Form 10-K or Form 10-Q. Con Edison agrees to furnish to the SEC upon request a copy of any such instrument.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, each Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	CONSOLIDATED EDISON, INC.
	CONSOLIDATED EDISON COMPANY OF NEW YORK, INC.
DATE: November 4, 2013	By	/s/ Robert Hoglund
		Robert Hoglund Senior Vice President, Chief Financial Officer and Duly Authorized Officer

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EX-10.1.2

Exhibit 10.1.2

CONSOLIDATED EDISON, INC.

Performance Unit Award for Officers

CEI hereby grants an award of Performance Units (the “Units”) to «FirstName»«LastName» (the “Employee”) under the Consolidated Edison, Inc. Long Term Incentive Plan, effective as of May 20, 2013, as may be amended from time to time (the “Plan”) as follows:

Date of Grant	Target Number	Performance Period	Vesting Date
«Date»	«PBRS» Units	«Performance Years»	«Date»

This Award is subject to the terms and conditions set forth herein and in the Plan. The terms of this Award are subject in all respects to the provisions of the Plan, which are incorporated herein by reference. All capitalized terms not otherwise defined herein shall have the same meanings as set forth in the Plan.

Each Performance Unit shall represent the right, upon vesting, to receive one share of Common Stock (“Share”), the cash value of one Share, or a combination thereof. The cash value of a Performance Unit shall equal the closing price of a Share on the NYSE in the Consolidated Reporting System for the trading day immediately prior to the applicable Vesting Date. If no trading of Shares occurred on such trading date, CEI will use the closing price of a Share in the Consolidated Reporting System as reported for the last preceding day on which sales of Shares have been reported shall be used.

Performance Targets: (a) Total Shareholder Return (TSR). Fifty percent of the Performance Units will be earned based on the Company’s TSR compared to the «Date»Compensation Peer Group¹ over the Performance Period. The maximum payout of the Performance Units that may be earned upon attainment of the TSR portion is set forth in Schedule A. In the event that the companies that make up the «Date» Compensation Peer Group change during the Performance Period, the Management Development and Compensation Committee (the “Committee”) will use the «Date» Compensation Peer Group as constituted on the Date of Grant. If a company ceases to be publicly traded before the end of the Performance Period, that company’s total shareholder return will not be used to calculate the payout of the Performance Units.

(b) Adjusted Target Incentive Fund. The remaining fifty percent of the Performance Units will be earned based on the average of the Adjusted Target Incentive Fund as defined in the Consolidated Edison Company of New York, Inc.

¹  The companies that comprise the Compensation Peer Group will be determined by the Committee at the Date of Grant.

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2005 Executive Incentive Plan, as amended from time to time (“Executive Incentive Plan”) expressed as a percentage of the Target Incentive Fund as defined in the Executive Incentive Plan for each year in the Performance Period.

(c) Determination of Award Amount. The actual number of Performance Units to be paid to the Employee can range from 0 to «Number» percent of the above Target Number of Performance Units. Subject to Section 1 below, after the close of the Performance Period, the Committee will determine whether the Performance Targets have been met in accordance with the terms of the Plan and this Agreement and, if applicable, certify the performance in accordance with the requirements of Code Section 162(m) The Committee also has the authority in accordance with Section 12 below, to recover Shares or amounts paid with respect to the Performance Units after they have been paid.

(d) Unfunded promise to pay. The Performance Units represent general, unsecured liabilities of the Company and shall not confer any right, title or interest in any assets of the Company and does not require a segregation of any assets of the Company.

1. Consequences of Separation from Service and Death. In the event of the Employee’s “separation from service” from the Company and its Affiliates as determined under the default provisions of Code Section 409A (“Separation from Service”) or upon his/her death prior to the Vesting Date, the Employee’s rights will be as set forth below:

a. If the Employee incurs a Separation from Service other than by reason of Retirement, Disability or death, or a deemed Separation from Service while on an approved leave of absence (a “Leave Separation”), during a Performance Period, his/her Performance Units will be cancelled and forfeited without payment.

b. If the Employee dies during the Performance Period, payment (if any) of his/her Performance Units will be prorated based on his or her actual period of Service from the Date of Grant to the Employee’s date of death. The Employee’s beneficiaries or the Employee’s estate, as the case may be, shall receive payment of the Performance Units within 90 days following the Employee’s death. The determination of the attainment of the performance factors will be made by the Vice President of Human Resources of Consolidated Edison Company of New York, Inc. (the “Vice President”) using the indicators as of the end of the month in which the date of death occurs for the TSR and using the prior fiscal year(s) Adjusted Target Incentive Fund expressed as a percentage of the prior year(s) approved payout percentage of his or her Executive Incentive Plan Award.

c. If the Employee incurs a Separation from Service by reason of Retirement³ or Disability during the Performance Period, then payment (if

2

any) of his/her Performance Units will be prorated based on the actual period of Service from the Date of Grant to the date of the Employee’s Disability or Retirement, and shall be based on actual performance achieved under the performance factors through the end of the Performance Period. The Employee, or if the Employee is legally incapacitated, the Employee’s legal representative, shall receive payment of the Performance Units within 90 days following the Vesting Date.

d. If the Employee is deemed to have incurred a Separation from Service by reason of a Leave Separation during the Performance Period, then payment (if any) of his/her Performance Units will be prorated based on the actual period of Service from the Date of Grant to the date of the Employee’s deemed Separation from Service, and shall be based on actual performance achieved under the performance factors through the end of the Performance Period; provided, however, that if the Employee returns to employment with the Company during the Performance Period, his/her Performance Units will be recalculated based on his/her actual period of Service including the period during which the Employee is on an approved leave of absence. The Employee, or if the Employee is legally incapacitated, the Employee’s legal representative, shall receive payment of the Performance Units within 90 days following the Vesting Date.

2. Form of Payout. Subject to Section 3 below, the Performance Units will be paid in a lump sum, either in Shares, in cash, or a combination, pursuant to an election made by the Employee on a form prescribed by the Vice President. The Employee’s election will be effective only when filed with the Vice President prior to December 31 of the year before the Date of Grant, and shall be subject to the Committee’s discretion. Subject to the Committee’s discretion, cash may also be deferred into the Company Deferred Income Plan (the “DIP”).

3. Deferrals. Subject to the Committee’s discretion, the Employee will have a one-time election to defer the receipt of the cash value of the Performance Units into the DIP or to defer the right to convert the Performance Units into Shares and to receive them, or a combination thereof pursuant to an election made by the Employee on a form prescribed by the Vice President. The Employee’s deferral election will be subject to, and made in accordance with, the terms and conditions of the DIP.

4. Voting and Dividend or Dividend Equivalent Rights.

a. The Employee shall not be entitled to any voting rights with respect to the Performance Units awarded. Furthermore, the Employee shall not be entitled to any dividend or Dividend Equivalent payments until the Performance Units vest.

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b. If the Employee receives Shares on the Vesting Date, he or she will be entitled to receive dividends on the Shares when dividends are otherwise paid.

c. If, however, the Employee elects prior to the Date of Grant to defer the right to convert the Performance Units into Shares and to receive them, he or she will be entitled to receive Dividend Equivalents payments on the Performance Units once the Performance Units vest. These Dividend Equivalent payments can be received as additional Shares, cash, or as cash deferred into the DIP.

d. If on the Vesting Date, the Employee receives a cash payment or previously elected to defer the cash value into the DIP, he or she will not receive Dividend Equivalent payments.

e. Dividend Equivalent payments are made on the Dividend Payment Date, which is the date CEI pays any dividend on outstanding Shares based on the number of Performance Units held by the Employee as of the record date for such dividend.

5. Deferral Election for Dividend Equivalent Payments. A deferral of Dividend Equivalent payments in connection with a deferral of the Performance Units must be made at the same time as the deferral of the receipt of the Performance Units and is subject to the same requirements and conditions as set forth in section 3 above. Subject to the Committee’s discretion, at that time, the Employee may elect to receive the Dividend Equivalent payments as additional Shares of Common Stock to be distributed or deferred to a future date, or as cash to be distributed or deferred into the DIP.

6. No Right to Continued Employment. Nothing contained herein shall constitute a contract of employment between the Company and the Employee and this Agreement shall not be deemed to be consideration for, or a condition of, continued employment of the Employee or affect any right of the Company to terminate the Employee’s employment.

7. Leave of Absence. If the Employee is officially granted a leave of absence for illness, military or governmental service or other reasons by the Company or its subsidiaries, for purposes of this Award, such leave of absence shall not be treated as a Separation from Service except to the extent required pursuant to Section 409A.

8. Payment. Subject to any deferral election and except as provided in Section 1 herein, the Company shall pay the Employee (a) the cash value of the Shares represented by the Performance Units, (b) the Shares, or (c) a combination of cash and Shares during the 90 day period following the Vesting Date. Prior to vesting, the Performance Units represent an unfunded and unsecured promise to pay the Employee the cash value of Shares, Shares or a combination thereof upon vesting.

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9. Transferability. Except as may otherwise be authorized by the Committee in accordance with the Plan, the Performance Units shall not be subject to alienation, sale, transfer, assignment, pledge, encumbrance, attachment, execution, levy, garnishment or other legal process by creditors of the Employee, the Employee’s beneficiary or by the Employee. Any attempted transfers shall be null and void and of no effect.

10. Tax Withholding. Pursuant to such methodology as determined by the Committee, the Company shall have the authority to make such provision and take such steps as it deems necessary or appropriate for the withholding of any taxes that the Company is required by law or regulation of any governmental authority, whether federal, state or local, domestic or foreign, to withhold in connection with the Performance Units.

11. Administration. Except as otherwise expressly provided in the Plan, the Plan Administrator shall have full and final power and authority with respect to this Agreement as it has with respect to the Plan. Any interpretation of this Agreement by the Plan Administrator and any decision made by the Plan Administrator with respect to this Agreement shall be final and binding on all parties. References to the Plan Administrator in this Agreement shall be read to include a reference to any delegate of the Plan Administrator.

12. Electronic Delivery. The Company may, in its sole discretion, deliver any documents related to Performance Units by electronic means or request the Employee’s consent to participate in the Plan by electronic means. The Employee hereby consents to receive such documents by electronic delivery and agrees to participate in the Plan through an on-line or electronic system established and maintained by the Company or another third party designated by the Company.

13. Amendment. The Committee may at any time and from time to time alter, amend, suspend or terminate the Plan, this Agreement or the Performance Units, in whole or in part, as it may deem advisable, except no such action (i) that would require the consent of the Board and/or the stockholders of CEI pursuant to Code Section 162(m) or any other Applicable Laws, the listing requirement of any national securities exchange or national market system on which are listed any of CEI’s equity securities shall be effective without such consent; and (ii) may be taken without the written consent of the Employee, which materially adversely affects his or her rights concerning the Performance Units, except as such termination, suspension or amendment of this Agreement is required by Applicable Laws.

14. Code Section 409A.

a. The Plan and this Agreement are intended to satisfy the applicable requirements of Section 409A or an applicable exemption to Section

5

409A and shall be administered and interpreted consistent with such intent. If the Committee determines in good faith that any provision contained in the Plan or herein does not satisfy such requirements or could otherwise cause any person to recognize additional taxes, penalties or interest under Section 409A, or could otherwise contravene the applicable provisions of Section 409A, the Committee will modify, to the maximum extent practicable, the original intent of the applicable provision without violation of the requirements of Section 409A (Section 409A Compliance), and, notwithstanding any provision herein to the contrary, the Committee shall have broad authority to amend or to modify this agreement, without advance notice to or consent by any person, to the extent necessary or desirable to ensure Section 409A Compliance. Any determination by the Committee shall be final and binding on all parties.

b. Notwithstanding anything in the Plan or herein to the contrary, if the Employee is a “specified employee” for purposes of Section 409A, as determined under the Company’s established methodology for determining specified employees, on the date on which the Employee incurs a Separation from Service, any payment hereunder that is deemed to be a “deferral of compensation” subject to Section 409A and is payable on the Employee’s Separation from Service shall be paid or commence to be paid on the fifteenth business day after the date that is six months following the Employee’s Separation from Service, provided, however, that a payment delayed pursuant to this clause (b) shall commence earlier in the event of the Employee’s death prior to the end of the six-month period.

15. Recoupment of Awards. The Employee’s Performance Units are subject to the Company’s Recoupment Policy, as amended from time to time or any Company recoupment policies or procedures that may be required under Applicable Laws.

a. Under this Recoupment Policy, appropriate actions, as determined by the Committee, will be undertaken by the Company to recoup the Excess Award Amount, as defined below, received by the Employee when:

1. The Audit Committee of CEI determines that CEI is required to prepare an accounting restatement due to its material noncompliance with any financial reporting requirement under the securities laws (a “Restatement”);

2 The Employee received the Performance Unit during the three-year period preceding the date on which CEI is required to prepare a Restatement; and

6

3 The amount of the Performance Units received by the Employee, based on the erroneous data, was in excess of what would have been paid to the Employee under the Restatement (the “Excess Award Amount”).

b. As consideration for the receipt of the Performance Units, the Employee agrees that any prior Award granted under the terms of the Plan or any prior long-term incentive plan of the Company is subject to this Recoupment Policy.

16. Miscellaneous. In the event of a conflict between this document and the Plan, the terms and conditions of the Plan shall control. The Employee may request a copy of the Plan from the Vice President at any time.

By accepting this Award in accordance with the procedures established by the Company, the Employee has indicated that he/she has received, read, understood and accepted the terms, conditions and restrictions of this Agreement and the Plan and he/she consents to, the terms of this Award and any actions taken under the Plan by CEI, the Board, the Committee or the Plan Administrator.

«FirstName»«LastName»

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Schedule A

“Total Shareholder Return” percentage is the weighting earned based on the cumulative change in Company Total Shareholder Returns over the Performance Period beginning «Date»and ending on «Date» compared with the Company’s Compensation Peer Group as constituted on the Date of Grant. In the event that the companies that make up the Compensation Peer Group change during the Performance Period, the Committee will use the Compensation Peer Group as constituted on the Date of Grant. If a company ceases to be publicly traded before the end of the Performance Period, that company’s total shareholder returns will not be used to calculate the payout of the Performance Units.

The levels of Performance Units will be earned as follows:

Company Percentile Rating Percentage
Payout of
Shares Awarded

8

EX-10.1.4

Exhibit 10.1.4

EXTENSION AGREEMENT

JPMorgan Chase Bank, N.A.

    as Administrative Agent

    under the Credit Agreement

    referred to below

Ladies and Gentlemen:

The undersigned hereby agrees to extend, effective October 23, 2013, the Termination Date under the Credit Agreement dated as of October 27, 2011 (as further amended from time to time, the “Credit Agreement”) among Consolidated Edison Company of New York, Inc., Consolidated Edison, Inc. Orange and Rockland Utilities, Inc., the Lenders party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent, for one year to October 27, 2017 and by their acceptance hereof the Borrowers hereby confirm that the conditions set forth in Section 2.19(b)(i) and (ii) of the Credit Agreement are satisfied as to such extension. Terms defined in the Credit Agreement are used herein with the same meaning.

This Extension Agreement shall be construed in accordance with and governed by the law of the State of New York.

Signature pages to follow

UBS LOAN FINANCE, LLC,     as Lender
By:	/s/ Lana Gifas
Name:	Lana Gifas
Title:	Director
By:	/s/ Jennifer Anderson
Name:	Jennifer Anderson
Title:	Associate Director

2

Agreed and accepted:

CONSOLIDATED EDISON COMPANY OF     NEW YORK, INC.
By:	/s/ Scott Sanders
Name:	Scott Sanders
Title:	Vice President and Treasurer
CONSOLIDATED EDISON, INC.
By:	/s/ Scott Sanders
Name:	Scott Sanders
Title:	Vice President and Treasurer
ORANGE AND ROCKLAND UTILITIES, INC.
By:	/s/ Yukari Saegusa
Name:	Yukari Saegusa
Title:	Treasurer
JPMORGAN CHASE BANK, N.A., as     Administrative Agent
By:	/s/ Peter Christensen
Name:	Peter Christensen
Title:	Vice President

3

EX-10.1.5

Exhibit 10.1.5

AMENDMENT TO

THE CONSOLIDATED EDISON

RETIREMENT PLAN

Taking Into Account the Changes

Resulting from the 2013 – 2017

Collective Bargaining Contract

Between Local 3 and CECONY

1

Amendment Number 1. The Introduction is amended, to add at the end of that Section:

As a result of the June 2013 collective bargaining negotiations between Local 3 and CECONY, the Retirement Plan is being amended to adopt a “Pension Choice” temporary program during which certain existing Local 3 members will have a choice between continuing their participation in the Retirement Plan for their pension benefits or transferring out of the Retirement Plan and earning future pension benefits under a new Defined Contribution Pension Formula. The Pension Choice program will also be extended to newly hired Local 3 members who will be given a choice to earn their pension benefits (1) under the Cash Balance Pension Formula of the Retirement Plan or (2) under the new Defined Contribution Pension Formula. Additionally, the Retirement Plan is being amended to make as the normal form of pension benefit for benefits accruing after June 30, 2014, a non-subsidized joint and 50% survivor annuity for certain CECONY Weekly Participants.

Amendment Number 2. Article II, Participation, Section 2.01 Participation Requirements, is amended by adding a new subsection (h), a new subsection (i), and a new subsection (j) to read as follows:

(h) Each CECONY Weekly Employee who: (i) is a member of Local 3; (ii) was hired on or after January 1, 2010, and before June 30, 2013; and (iii) is actively employed as of June 30, 2013 (“PC Participant”) will be given an opportunity to make a “Pension Choice (“PC”),” as set forth below. The Pension Choice temporary program will end on December 31, 2015, and no further Pension Choices submitted by a PC Participant will be accepted after December 31, 2015.

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1. Pension Choice For PC Participant:

A. The Pension Choice temporary program provides a one-time opportunity for each PC Participant to make an irrevocable election to transfer out of the Cash Balance Pension Formula in the Retirement Plan and into the “Defined Contribution Pension Formula (“DCPF”),” as described in the Consolidated Edison Thrift Savings Plan (“Thrift Savings Plan”).

B. The election period for a PC Participant will begin no later than January 1, 2014, and will end on December 31, 2015 (“PC Election Period”). Beginning on and after January 1, 2016, the Pension Choice will end for a PC Participant and no new elections will be accepted.

C. If a PC Participant elects to transfer out of the Cash Balance Pension Formula and into the Defined Contribution Pension Formula during the first two months of a calendar quarter, he or she will cease active participation in the Retirement Plan as of the last day of that calendar quarter. However, if he or she submitted an election form after the second month of the calendar quarter, he or she will cease participation in the Retirement Plan as of the last day of the next following calendar quarter. His or her last day of active participation in the Retirement Plan will be the last day of the calendar quarter immediately preceding the first day of the calendar quarter in which he or she becomes covered under the Defined Contribution Pension Formula (“Transfer Date”). In no event, will a PC Participant be credited with service under both the Cash Balance Pension Formula and the Defined Contribution Pension Formula.

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D. If a PC Participant is married and makes an election to transfer out of the Cash Balance Pension Formula, his or her spouse must consent in writing to the transfer on the election form submitted by the PC Participant.

E. A PC Participant who takes no action during the PC Election Period will remain in the Cash Balance Pension Formula.

F. As of the Transfer Date, a PC Participant who elects to transfer out of the Cash Balance Pension Formula will have no additional future compensation credits credited to his or her Cash Balance Pension benefit.

G. As of his or her Transfer Date, the PC Participant will continue to receive only interest credits to his or her Cash Balance Pension benefit until the date that he or she begins distribution from the Retirement Plan.

(i) Each CECONY Weekly Employee who is a member of Local 3 and is hired on or after June 30, 2013 will be given a “Pension Choice,” election as soon as administratively practicable after being hired and will have up to 60 days to make a one-time irrevocable election to be covered under the Cash Balance Pension Formula in the Retirement Plan. If he or she elects to be covered under the Cash Balance Pension Formula in the Retirement Plan, he or she will be subject to the same terms and conditions as a CECONY Weekly Participant who is a member of Local 3 covered under the Cash Balance Pension Formula. Such individual will not be given another Pension Choice.

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A. Beginning as of July 1, 2013, participation in the Retirement Plan for a newly hired (or rehired) CECONY Weekly Employee who is a member of Local 3 is limited to such person who makes an affirmative Pension Choice election to participate in the Cash Balance Pension Formula.

B. If a Local 3 member affirmatively elects to participate in the Cash Balance Pension Formula, he or she will receive service credit under the Cash Balance Pension Formula beginning on his or her hire date.

j. Each CECONY Weekly Employee, who is a member of Local 3, was not actively employed on June 30, 2013, and is rehired on or after June 30, 2013, will be treated as follows:

A. If, prior to his or her rehire date, he or she took a Cash Out or Single Sum Lump Sum Payment, he or she will be given a Pension Choice as set forth in Section i above. If he or she elects to participate in the Cash Balance Pension Formula, he or she will be given past service credit for vesting but not for determining the applicable compensation accrual rate.

B. If, prior to his or her rehire date, he or she was covered under the Final Average Pay or Total Salary Pension Formula, and he or she did not take a Cash Out or Single Sum Lump Sum Payment, upon his or her rehire date, he or she will commence participation under the formula under which he or she previously was covered.

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Amendment Number 3. Article V, Automatic Form of Payment, Section 5.01, Automatic Form of Payment, Subsection (b) CECONY Participants, Subsection (b), Married Participants, is amended by adding a new subsection (b)(5) to read as follows:

(5) Effective July 1, 2014, a CECONY Weekly Participant who (i) is a member of Local 3, (ii) was hired on or before June 26, 2005, and (iii) is covered under the Final Average Pay Formula or the Total Pay Formula, will have as his or her normal form of benefit that part of his or her pension benefit allowance that accrues after June 30, 2014 (“Post-June 2014 Pension Accruals”) calculated as follows. Effective July 1, 2014, for the part of the pension benefit allowance that is attributable to the Post-June 2014 Pension Accruals, the normal form of pension benefit allowance for such a Local 3 married CECONY Weekly Participant will be a qualified joint and 50% survivor annuity that is the actuarial equivalent of the single life annuity. If such CECONY Weekly Participant elects an optional form of payment, the part of his or her pension benefit allowance attributable to the Post-June 2014 Pension Accruals will also be the actuarial equivalent, as set forth in the applicable Table in Appendix A, of the single life annuity.

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IN WITNESS WHEREOF, the undersigned has caused this instrument to be executed effective as of October 23, 2013

/s/ Mary Adamo

Mary Adamo

Vice President of Human Resources

Consolidated Edison Company of New York, Inc.

And the Plan Administrator of the Retirement Plan

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EX-10.1.6

Exhibit 10.1.6

AMENDMENT TO

THE CONSOLIDATED EDISON

THRIFT SAVINGS PLAN

Taking Into Account:

The Changes Resulting from the 2013 – 2017 Collective Bargaining Contract between the International Brotherhood of Electrical Workers, Local 3 and Consolidated Edison Company Of New York, Inc.

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Amendment Number 1. The Introduction is amended to add at the end of the Section:

In accordance with the collective bargaining agreement between the International Brotherhood of Electrical Workers, AFL-CIO, and its Local 3 and Consolidated Edison Company of New York, Inc., dated June 30, 2013, through July 1, 2017, the Thrift Savings Plan is being amended to take into account: (i) a new Defined Contribution Pension Formula (“DCPF”); (ii) the entry of certain Local 3 Employees transferring from the Consolidated Edison Retirement Plan into the DCPF; (iii) the increase in the maximum Participating Contributions (contributions subject to an employer matching contribution); and (iv) the increase in the percentage — from 50% to either 75% or 100% — of the employer matching contributions for certain Local 3 Employees.

The newly adopted DCPF will be incorporated into the Thrift Savings Plan document. Many of the provisions, terms, and conditions of the 401(k) Formula and 401(m) Formula will apply to each Participant covered under the DCPF. If there is a difference between whether, or the manner in which, a provision, term, or condition will apply under the DCPF, the difference will be indicated.

The Thrift Savings Plan document serves as a single tax-qualified defined contribution plan under Internal Code Section 401(a), incorporating several formulas.

Amendment Number 2. Article I, Definitions, is amended by adding the following new definitions in their correct alphabetical order:

Compensation Credit Contributions means the contributions made on behalf of a Participant by the Employer under the Defined Contribution Pension Formula.

DCPF Account means the account into which is credited a Participant’s Compensation Credit Contributions and the earnings and losses associated with the DCPF Account.

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Amendment Number 3. Article I, Definitions, is amended by amending the following definitions to read as follows:

Account Balance is amended by adding at the end of the paragraph the following:

Effective on and after July 2013, Account Balance includes a Participant’s DCPF Account; provided, however, that Account Balance does not include a Participant’s DCPF Account if such DCPF Account is specifically excluded or is otherwise excluded on account of the application of the federal tax law. For example, Account Balance does not include a Participant’s DCPF Account for purposes of nondiscrimination testing under the ADP – 401(k) testing or the ACP – 401(m) testing. Account Balance does include a Participant’s DCPF Account for purposes of the investment management of a Participant’s Account Balance.

Employer Matching Contribution is amended by adding at the end of the paragraph the following:

Effective on and after July 2013, Employer Matching Contribution does not include an Employer Compensation Credit Contribution.

Amendment Number 4. Article II, Eligibility and Participation, Section 2.01, Eligibility, is amended by adding a Subsection (d), to read as follows:

(d) Only certain Employees, as more fully described in Article XV, are eligible to participate in the Defined Contribution Pension Formula. Article II does not apply or govern the terms or conditions for eligibility under or participation in the Defined Contribution Pension Formula.

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Amendment Number 5. A new Article XV, Defined Contribution Pension Formula, is added after Article XIV, to read as follows:

Article XV

Defined Contribution Pension Formula

15.01 Defined Contribution Pension Formula – Establishment

a. Effective as of July 1, 2013, the Company has established the Defined Contribution Pension Formula (“DCPF”) which is a separate defined contribution pension formula negotiated and agreed upon by Local 3 and CECONY.

b. Except as otherwise provided in this Article XV, the provisions in the Thrift Savings Plan that would apply to a defined contribution pension formula, such as the sections setting forth Plan Administration apply to the DCPF and are not repeated in this Article XV.

15.02 Participation in the DCPF for a Local 3 Employee – Pension Choice

a. Each Local 3 Employee who is hired on or after June 30, 2013, will have a period of time to make a Pension Choice election to be covered under the cash balance pension formula in the Retirement Plan or to be covered under this DCPF. He or she will receive information regarding the Pension Choice as soon as practicable following his or her date of hire.

b. If he or she makes no election by the end of the 60-day period, he or she will become a Participant in the DCPF. He or she will begin participation after completing three months of service in the first month of the immediately following calendar quarter, or if not administratively practicable, in the first month of the next following calendar quarter.

c. Entry dates are the first day of each calendar quarter.

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d. Whether such Local 3 Employee elects to participate or is deemed to have elected to participate, his or her Pension Choice is irrevocable.

15.03 Participation Rules for a Local 3 Employee Transferring From the Retirement Plan

a. An individual who: (i) is a Local 3 Employee; (ii) covered under the cash balance pension formula in the Retirement Plan; and (iii) has elected to transfer out of the cash balance pension formula in the Retirement Plan and into the DCPF, will become covered under the DCPF as soon as practicable following the date that his or her Pension Choice election form has been properly submitted.

b. If such Local 3 Employee makes and properly submits his or her Pension Choice election in the first or second month of a calendar quarter, he or she will begin participation on the first day of the next calendar quarter. If he or she submits his or her Pension Choice election in the third month of a calendar quarter, he or she will begin participation in the first month of the immediately following second calendar quarter.

c. Entry dates are the first day of a calendar quarter.

d. Each Participant who has transferred from the cash balance formula will be credited with his or her Years of Service since his or her date of hire with the Employer for the purpose of determining his or her vested status.

e. Each Participant who has transferred from the cash balance formula will be credited with his or her Years of Service since his or her date of hire with the Employer for the purpose of determining his or her points for Compensation Credits.

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15.04 Defined Contribution Pension Formula

a. The Company will contribute at the end of each calendar quarter (end of March, June, September, and December), or as soon as administratively practicable, a Compensation Credit on behalf of each Participant covered under the DCPF in accordance with the following formula:

Points (Age Plus Service)*as of the Allocation Date	Percentage of Compensation** Earned in the quarter			Plus	Percentage of year-to-date Compensation** that exceeds the Social Security Wage Base
Under 35		4.00	%			4.00	%
35 – 49		5.00	%			4.00	%
50 – 64		6.00	%			4.00	%
Over 64		7.00	%			4.00	%

* Points are based on age and service at the end of each calendar quarter.

** Compensation means basic straight-time compensation plus Sunday premium pay, night shift, and midnight shift differential premium pay, calculated to the nearest whole dollar.

a. Basic straight-time compensation is determined based on the Participant’s rate of pay in the last pay period in the Calendar quarter. Sunday premium pay, night shift, and midnight shift differential premium pay are based on amounts actually earned during the preceding calendar quarter.

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b. A Participant whose termination of employment occurs in the first or second month of a calendar quarter shall receive an allocation for such calendar quarter. He or she will receive an allocation equal to a pro rata quarterly allocation based on age, years of Accredited Service, and the Compensation he or she received in such calendar quarter at his or her termination of employment. The Participant will receive his or her applicable percentage times her or his Compensation as of the date of termination of employment. Additionally, if the Participant has exceeded the Social Security Taxable Wage Base, he or she will receive an additional 4% allocation on the Compensation in the calendar quarter that has exceeded the Social Security Taxable Wage Base.

c. For any period of an authorized, unpaid leave of absence for which the Participant receives Accredited Service (up to but not to exceed six months), the Participant shall receive Compensation Credits to his or her DCPF Account. The Compensation Credits shall be determined on the assumption that the Participant continued to receive during the leave period his or her Compensation (excluding any Sunday premium pay and night shift and midnight shift differential premium pay during the calendar quarter ) based on the rate of pay in effect for such Participant immediately prior to such leave of absence.

15.05 Participant Investment Directions and Choices for the DCPF Account

a. The first Employer’s Compensation Credit Contributions to a Participant’s DCPF Account will be invested in the default investment option under the Thrift Savings Plan (“Qualified Default Investment Alternative”). Until the Participant directs otherwise, all future compensation credit contributions will continue to be invested in the Qualified Default Investment alternative. A Participant’s entire DCPF Account, whether or not vested, is available for Participant investment direction.

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b. Each Participant is entitled to direct the investment of his or her Defined Contribution Pension Formula Account, in any or all of the investment funds available under, and in such manner and on such terms and conditions as set forth under the 401 (k) Formula.

c. The DCPF Account cannot be invested in the Company Stock Fund.

d. Each Participant is fully responsible for the investment directions and asset allocations of his or her DCPF Account. The Company is not responsible for how the DCPF Account is invested or for any or all losses resulting from the investment decisions made by the Participant.

e. While many of the other provisions, terms and conditions included in the Thrift Savings Plan apply to this Article XV, and acknowledging redundancy, the following Sections of Article IV and Article V apply to the DCPF Account: Sections 4.01, 4.03, 4.04, 4.06, 5.01, 5.02, 5.05, 5.06, 5.07 and 5.08.

15.06 Vesting in Compensation Credit Contributions

a. Each Participant will be 100% vested in his or her DCPF Account upon completion of three years of vesting service.

b. If his or her DCPF Account is not yet 100% vested, he or she will become 100% vested upon attainment of normal retirement age (age 65).

c. A Participant who terminates employment before becoming 100% vested will forfeit his or her DCPF Account.

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15.07 Form and Timing of Distributions

a. Timing of Distributions Upon termination from employment with the Company and any Affiliate, distributions will be made as follows:

I. if the vested portion of the Participant’s Account Balance equals or is less than $1,000, his or her DCPF Account will be distributed in a single lump sum as soon as practicable ; or

II. unless and until the Participant requests an earlier distribution, if distribution will be deferred until April 1 of the calendar year following the calendar year in which the Participant attains age 65.

III. Termination of employment entitling a Participant to a distribution does not occur in the event of a corporate transaction in which there is a transfer of the Account Balances of Participants affected by the corporate transaction to a plan maintained or created by the affected Participant’s new employer.

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b. The Participant may elect an immediate or deferred distribution, subject to Code Section 401 (a)(9), Article XIV, if applicable, and, in such manner and on such conditions as may be prescribed by the Plan Administrator, any of the following:

I. a distribution of the Participant’s Vested Account Balance in a single lump sum;

II. monthly, quarterly or annual periodic installment payments in a fixed dollar amount or fixed percentage amount; or

III. a distribution of all or part.

c. If a Participant’s distribution is deferred until April 1 of the calendar year following the calendar year in which the Participant attains again 70 ¹⁄₂, the Participant may elect, in such manner and on such condition as may be presented by the Plan administrator;

I. a distribution in a single lump sum, or

II. a distribution in the required minimum amounts and over the applicable distribution period prescribed under the Code’s minimum distribution rules. If the Participant fails to make an election, the distribution shall be made in quarterly installments.

d. Any distribution of less than all of a Participant’s Vested Account Balance shall be made pro-rata from the Investment Funds in which the Account Balance in invested.

15.08 Death Benefits

a. If a Participant dies before his or her distribution has begun, a death benefit equal to the vested DCPF Account will be payable to the Participant’s Beneficiary.

b. If the Participant is married on his or her date of death, his or her Beneficiary is his or her Surviving Spouse.

c. If the Participant is not married on his or her date of death, his or her Beneficiary will be the person he or she has designated.

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d. His or her Beneficiary may elect a form and timing of payment so long as his or her election complies with the distribution rules codified in Code Section 401(a)(9) and the final regulations set forth in Treasury Regulations 1.401(a)(9) as in effect at the time of the distribution. The Beneficiary’s benefit will be paid as soon as practicable following the Participant’s date of death. If the Surviving Spouse is the Beneficiary he or she may defer a distribution up to the date the Participant would have attained age 65, in accordance with Code Section 401(a)(9).

e. If the vested Participant is not married at his or her death and there is no surviving Beneficiary or a Beneficiary has not been designated, the death benefit shall be payable to the Participant’s estate or legal representative.

15.09 Proof of Death and Right of Beneficiary or Other Person

The Plan Administrator and/or the recordkeeper may require and rely upon such proof of death and such evidence of the right of any Beneficiary or other person to receive the value of the vested DCPF Account as the Plan Administrator or recordkeeper may deem proper. His or her determination of the right of that Beneficiary or other person to receive payment will be conclusive.

15.10 Distribution Limitation

All distributions shall conform to the regulations issued under Code Section 401(a)(9), including the incidental death benefit provisions of Code Section 401(a)(9)(G). Such regulations override any Plan provision that is inconsistent with Code Section 401(a)(9).

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Amendment Number 6. Article III, Section 3.05, Participating Contributions Eligible for Employer Matching Contributions, subsection (a) Employer Matching Contributions for a CECONY Weekly Participant, is amended, effective January 1, 2014, by adding after the last sentence in subsection (a) the following new subsections:

i. The contribution that a CECONY Weekly Participant who is a Local 3 Employee may make may not exceed: (1) $1.33 per hour for any payroll period beginning on or after January 1, 2014; (2) $1.37 per hour for any payroll period beginning on or after January 1, 2015; (3) $1.41 per hour for any payroll period beginning on or after January 1, 2016; and (4) $1.45 per hour for any payroll period beginning on or after January 1, 2017.

ii. Beginning with the first payroll period on or after January 1, 2014, or as soon as administratively practicable thereafter, the Employer will contribute, on behalf of each CECONY Weekly Participant who (i) is a Local 3 Employee, (ii) covered under the cash balance formula of the Retirement Plan, and (iii) elects to make Contributions for a payroll period, an Employer Matching Contribution equal to 75% of his or her Participating Contributions for each payroll period.

iii. Beginning with the first payroll period on or after January 1, 2014, or as soon as administratively practicable thereafter, the Employer will contribute, on behalf of each CECONY Weekly Participant who is a Local 3 Employee, covered under the DCPF, and elects to make contributions for a payroll period, Employer Matching Contribution equal to 100% of his or her Participating Contributions for each payroll period.

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IN WITNESS WHEREOF, the undersigned has caused this instrument to be executed effective as of October 23, 2013

/s/ Mary Adamo

Mary Adamo

Vice President of Human Resources

Consolidated Edison Company of New York, Inc.

And the Plan Administrator of the Thrift Savings Plan

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EX-12.1

Exhibit 12.1

Consolidated Edison, Inc.

Ratio of Earnings to Fixed Charges

(Millions of Dollars)

	For the Nine Months Ended September 30, 2013			For the Twelve Months Ended December 31, 2012		For the Nine Months Ended September 30, 2012
Earnings
Net Income for Common Stock	$	828		$	1,138	$	931
Preferred Stock Dividend		—			3		3
(Income) or Loss from Equity Investees		(5	)		4		(4	)
Minority Interest Loss		—			—		—
Income Tax		373			600		501
Pre-Tax Income	$	1,196		$	1,745	$	1,431
Add: Fixed Charges*		597			638		484
Add: Distributed Income of Equity Investees		—			—		—
Subtract: Interest Capitalized		—			—		—
Subtract: Pre-Tax Preferred Stock Dividend Requirement		—			5		5
Earnings	$	1,793		$	2,378	$	1,910
* Fixed Charges
Interest on Long-term Debt	$	421		$	568	$	429
Amortization of Debt Discount, Premium and Expense		12			18		12
Interest Capitalized		—			—		—
Other Interest		143			20		17
Interest Component of Rentals		21			27		21
Pre-Tax Preferred Stock Dividend Requirement		—			5		5
Fixed Charges	$	597		$	638	$	484
Ratio of Earnings to Fixed Charges		3.0			3.7		3.9

EX-12.2

Exhibit 12.2

Consolidated Edison Company of New York, Inc.

Ratio of Earnings to Fixed Charges

(Millions of Dollars)

	For the Nine Months Ended September 30, 2013		For the Twelve Months Ended December 31, 2012		For the Nine Months Ended September 30, 2012
Earnings
Net Income for Common Stock	$	831	$	1,014	$	824
Preferred Stock Dividend		—		3		3
(Income) or Loss from Equity Investees		—		—		—
Minority Interest Loss		—		—		—
Income Tax		431		529		436
Pre-Tax Income	$	1,262	$	1,546	$	1,263
Add: Fixed Charges*		415		573		434
Add: Distributed Income of Equity Investees		—		—		—
Subtract: Interest Capitalized		—		—		—
Subtract: Pre-Tax Preferred Stock Dividend Requirement		—		—		—
Earnings	$	1,677	$	2,119	$	1,697
* Fixed Charges
Interest on Long-term Debt	$	373	$	508	$	383
Amortization of Debt Discount, Premium and Expense		11		17		12
Interest Capitalized		—		—		—
Other Interest		12		22		19
Interest Component of Rentals		19		26		20
Pre-Tax Preferred Stock Dividend Requirement		—		—		—
Fixed Charges	$	415	$	573	$	434
Ratio of Earnings to Fixed Charges		4.0		3.7		3.9

EX-31.1.1

Exhibit 31.1.1

CERTIFICATIONS

I, Kevin Burke, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2013 of Consolidated Edison, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent function):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: November 4, 2013

/s/ Kevin Burke

Kevin Burke

Chairman, President and Chief Executive Officer

EX-31.1.2

Exhibit 31.1.2

CERTIFICATIONS

I, Robert Hoglund, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2013 of Consolidated Edison, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent function):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: November 4, 2013

/s/ Robert Hoglund

Robert Hoglund

Senior Vice President and Chief Financial Officer

EX-31.2.1

Exhibit 31.2.1

CERTIFICATIONS

I, Kevin Burke, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2013 of Consolidated Edison Company of New York, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent function):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: November 4, 2013

/s/ Kevin Burke

Kevin Burke

Chairman and Chief Executive Officer

EX-31.2.2

Exhibit 31.2.2

CERTIFICATIONS

I, Robert Hoglund, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2013 of Consolidated Edison Company of New York, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent function):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: November 4, 2013

/s/ Robert Hoglund

Robert Hoglund

Senior Vice President and Chief Financial Officer

EX-32.1.1

Exhibit 32.1.1

Certification Required Under Section 906 of the Sarbanes-Oxley Act of 2002

I, Kevin Burke, the Chief Executive Officer of Consolidated Edison, Inc. (the “Company”) certify that the Company’s Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2013, which this statement accompanies, (the “Form 10-Q”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m or 78o(d)) and that the information contained in the Form 10-Q fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ Kevin Burke

Kevin Burke

Dated: November 4, 2013

EX-32.1.2

Exhibit 32.1.2

Certification Required Under Section 906 of the Sarbanes-Oxley Act of 2002

I, Robert Hoglund, the Chief Financial Officer of Consolidated Edison, Inc. (the “Company”) certify that the Company’s Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2013, which this statement accompanies, (the “Form 10-Q”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m or 78o(d)) and that the information contained in the Form 10-Q fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ Robert Hoglund

Robert Hoglund

Dated: November 4, 2013

EX-32.2.1

Exhibit 32.2.1

Certification Required Under Section 906 of the Sarbanes-Oxley Act of 2002

I, Kevin Burke, the Chief Executive Officer of Consolidated Edison Company of New York, Inc. (the “Company”) certify that the Company’s Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2013, which this statement accompanies, (the “Form 10-Q”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m or 78o(d)) and that the information contained in the Form 10-Q fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ Kevin Burke

Kevin Burke

Dated: November 4, 2013

EX-32.2.2

Exhibit 32.2.2

Certification Required Under Section 906 of the Sarbanes-Oxley Act of 2002

I, Robert Hoglund, the Chief Financial Officer of Consolidated Edison Company of New York, Inc. (the “Company”) certify that the Company’s Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2013, which this statement accompanies, (the “Form 10-Q”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m or 78o(d)) and that the information contained in the Form 10-Q fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ Robert Hoglund

Robert Hoglund

Dated: November 4, 2013

XML

Other Material Contingencies

9 Months Ended

Sep. 30, 2013

Other Material Contingencies

Note H — Other Material Contingencies

Manhattan Steam Main Rupture

In July 2007, a CECONY steam main located in midtown Manhattan ruptured. It has been reported that one person died and others were injured as a result of the incident. Several buildings in the area were damaged. Debris from the incident included dirt and mud containing asbestos. The response to the incident required the closing of several buildings and streets for various periods. Approximately 90 suits are pending against the company seeking generally unspecified compensatory and, in some cases, punitive damages, for personal injury, property damage and business interruption. The company has notified its insurers of the incident and believes that the policies in force at the time of the incident will cover the company’s costs to satisfy its liability to others in connection with the suits. At September 30, 2013, the company has accrued its estimated liability for the suits of $50 million and an insurance receivable in the same amount.

Lease In/Lease Out Transactions

In each of 1997 and 1999, Con Edison Development entered into transactions in which it leased property and then immediately subleased the properties back to the lessor (termed “Lease In/Lease Out,” or LILO transactions). The transactions respectively involved electric generating and gas distribution facilities in the Netherlands, with a total investment of $259 million. The transactions were financed with $93 million of equity and $166 million of non-recourse, long-term debt secured by the underlying assets. In accordance with the accounting rules for leases, Con Edison accounted for the two LILO transactions as leveraged leases. Accordingly, the company’s investment in these leases, net of non-recourse debt, was carried as a single amount in Con Edison’s consolidated balance sheet and income was recognized pursuant to a method that incorporated a level rate of return for those years when net investment in the lease was positive.

On audit of Con Edison’s tax return for 1997, the Internal Revenue Service (IRS) disallowed tax losses in connection with the 1997 LILO transaction and assessed the company a $0.3 million income tax deficiency. On audits of Con Edison’s 1998 through 2011 tax returns, the IRS disallowed $574 million of tax losses taken with respect to both LILO transactions. In December 2005, Con Edison paid the $0.3 million deficiency asserted by the IRS for the tax year 1997 with respect to the 1997 LILO transaction. In April 2006, the company paid interest of $0.2 million associated with the deficiency and commenced an action in the United States Court of Federal Claims, entitled Consolidated Edison Company of New York, Inc. v. United States, to obtain a refund of tax and interest. A trial was completed in November 2007. In October 2009, the court issued a decision in favor of the company concluding that the 1997 LILO transaction was, in substance, a true lease that possessed economic substance, the loans relating to the lease constituted bona fide indebtedness, and the deductions for the 1997 LILO transactions claimed by the company in its 1997 federal income tax return are allowable. In January 2013, the United States Court of Appeals for the Federal Circuit reversed the October 2009 trial court decision and disallowed the tax losses claimed by the company relating to the 1997 LILO transaction. In March 2013, the Court of Appeals denied the company’s request to grant rehearing en banc of the January 2013 decision. In June 2013, Con Edison entered into a closing agreement with the IRS regarding the 1997 and 1999 LILO transactions.

As a result of the January 2013 Court of Appeals decision, in the three months ended March 31, 2013, Con Edison recorded an after-tax charge of $150 million to reflect, as required by the accounting rules for leveraged lease transactions, the recalculation of the accounting effect of the LILO transactions based on the revised after-tax cash flows projected from the inception of the leveraged leases as well as the interest on the potential tax liability resulting from the disallowance of federal and state income tax losses with respect to the LILO transactions (see “Uncertain Tax Positions” in Note I). In June 2013, the 1999 LILO transaction was terminated, as a result of which the company realized a $29 million gain (after-tax) and received net cash proceeds of $108 million. In August 2013, the 1997 LILO transaction was terminated, resulting in a $26 million gain (after-tax) and net cash proceeds of $92 million. The effect on Con Edison’s consolidated income statement is as follows:

(Millions of Dollars)	For the Three Months Ended September 30, 2013			For the Nine Months Ended September 30, 2013
Increase/(decrease) to non-utility operating revenues	$	44		$	(27	)
(Increase)/decrease to other interest expense		—			(131	)
Income tax benefit/(expense)		(18	)		63
Total increase/(decrease) in net income	$	26		$	(95	)

The transactions did not impact earnings in 2012.

At September 30, 2013, the company had terminated its LILO transactions and no longer had an investment recorded for these leases in its consolidated balance sheet. At December 31, 2012, the company’s net investment in the LILO transactions was $(76) million, comprised of a $228 million gross investment less $304 million of deferred tax liabilities.

In January 2013, to defray interest charges, the company deposited $447 million with federal and state tax agencies relating primarily to the potential tax liability from these LILO transactions in past tax years and interest thereon. In June 2013, at the company’s request, the IRS returned $95 million of the deposit. In August 2013, an additional $30 million of the deposit was returned from the IRS at the company’s request. In the third quarter of 2013, the IRS completed its audits for the tax years 1998 through 2011 and the company expects to apply a portion of the remaining deposited amounts against its federal tax liability during the fourth quarter of 2013. The company is currently amending its state tax returns for all years covered by the LILOs, and expects that the balance of the deposit will be applied to satisfy its related state tax liability.

Other Contingencies

See “Other Regulatory Matters” in Note B and “Uncertain Tax Positions” in Note I.

Guarantees

Con Edison and its subsidiaries enter into various agreements providing financial or performance assurance primarily to third parties on behalf of their subsidiaries. Maximum amounts guaranteed by Con Edison totaled $1,272 million and $859 million at September 30, 2013 and December 31, 2012, respectively.

A summary, by type and term, of Con Edison’s total guarantees at September 30, 2013 is as follows:

Guarantee Type	0 – 3 years		4 – 10 years		> 10 years		Total
	(Millions of Dollars)
Energy transactions	$	705	$	52	$	25	$	782
Solar energy projects		443		—		4		447
Intra-company guarantees		16		—		—		16
Other guarantees		27		—		—		27
Total	$	1,191	$	52	$	29	$	1,272

Energy Transactions — Con Edison guarantees payments on behalf of its competitive energy businesses in order to facilitate physical and financial transactions in gas, pipeline capacity, transportation, oil, electricity, renewable energy credits and energy services. To the extent that liabilities exist under the contracts subject to these guarantees, such liabilities are included in Con Edison’s consolidated balance sheet.

Solar Energy Projects — Con Edison and Con Edison Development guarantee payments associated with the investment in solar energy generation facilities on behalf of their wholly-owned subsidiaries. In addition, Con Edison Development has entered into a guarantee ($80 million maximum) on behalf of an entity in which it has a 50 percent interest (see Note M) in connection with the construction of solar energy generation facilities. Con Edison Development also provided $4 million in guarantees to Travelers Insurance Company for indemnity agreements for surety bonds in connection with the construction and operation of solar energy facilities performed by its subsidiaries.

Intra-company Guarantees — Con Edison guarantees electricity sales made by Con Edison Energy and Con Edison Solutions to O&R and CECONY.

Other Guarantees — Con Edison and Con Edison Development also guarantee the following:

• $2 million relates to guarantees issued by Con Edison to CECONY covering a former Con Edison subsidiary’s lease payment to use CECONY’s conduit system in accordance with a tariff approved by the NYSPSC and a guarantee issued by Con Edison to a landlord to guarantee the former subsidiary’s obligations under a building lease. The former subsidiary is obligated to reimburse Con Edison for any payments made under these guarantees. This obligation is fully secured by letters of credit;

• $25 million for guarantees provided by Con Edison to Travelers Insurance Company for indemnity agreements for surety bonds in connection with energy service projects performed by Con Edison Solutions; and

• Con Edison, on behalf of Con Edison Solutions, as a retail electric provider, issued a guarantee to the Public Utility Commission of Texas with no specified limitation on the amount guaranteed, covering the payment of all obligations of a retail electric provider. Con Edison’s estimate of the maximum potential obligation is $5 million as of September 30, 2013.

CECONY [Member]

Other Material Contingencies

Note H — Other Material Contingencies

Manhattan Steam Main Rupture

In July 2007, a CECONY steam main located in midtown Manhattan ruptured. It has been reported that one person died and others were injured as a result of the incident. Several buildings in the area were damaged. Debris from the incident included dirt and mud containing asbestos. The response to the incident required the closing of several buildings and streets for various periods. Approximately 90 suits are pending against the company seeking generally unspecified compensatory and, in some cases, punitive damages, for personal injury, property damage and business interruption. The company has notified its insurers of the incident and believes that the policies in force at the time of the incident will cover the company’s costs to satisfy its liability to others in connection with the suits. At September 30, 2013, the company has accrued its estimated liability for the suits of $50 million and an insurance receivable in the same amount.

Lease In/Lease Out Transactions

In each of 1997 and 1999, Con Edison Development entered into transactions in which it leased property and then immediately subleased the properties back to the lessor (termed “Lease In/Lease Out,” or LILO transactions). The transactions respectively involved electric generating and gas distribution facilities in the Netherlands, with a total investment of $259 million. The transactions were financed with $93 million of equity and $166 million of non-recourse, long-term debt secured by the underlying assets. In accordance with the accounting rules for leases, Con Edison accounted for the two LILO transactions as leveraged leases. Accordingly, the company’s investment in these leases, net of non-recourse debt, was carried as a single amount in Con Edison’s consolidated balance sheet and income was recognized pursuant to a method that incorporated a level rate of return for those years when net investment in the lease was positive.

On audit of Con Edison’s tax return for 1997, the Internal Revenue Service (IRS) disallowed tax losses in connection with the 1997 LILO transaction and assessed the company a $0.3 million income tax deficiency. On audits of Con Edison’s 1998 through 2011 tax returns, the IRS disallowed $574 million of tax losses taken with respect to both LILO transactions. In December 2005, Con Edison paid the $0.3 million deficiency asserted by the IRS for the tax year 1997 with respect to the 1997 LILO transaction. In April 2006, the company paid interest of $0.2 million associated with the deficiency and commenced an action in the United States Court of Federal Claims, entitled Consolidated Edison Company of New York, Inc. v. United States, to obtain a refund of tax and interest. A trial was completed in November 2007. In October 2009, the court issued a decision in favor of the company concluding that the 1997 LILO transaction was, in substance, a true lease that possessed economic substance, the loans relating to the lease constituted bona fide indebtedness, and the deductions for the 1997 LILO transactions claimed by the company in its 1997 federal income tax return are allowable. In January 2013, the United States Court of Appeals for the Federal Circuit reversed the October 2009 trial court decision and disallowed the tax losses claimed by the company relating to the 1997 LILO transaction. In March 2013, the Court of Appeals denied the company’s request to grant rehearing en banc of the January 2013 decision. In June 2013, Con Edison entered into a closing agreement with the IRS regarding the 1997 and 1999 LILO transactions.

As a result of the January 2013 Court of Appeals decision, in the three months ended March 31, 2013, Con Edison recorded an after-tax charge of $150 million to reflect, as required by the accounting rules for leveraged lease transactions, the recalculation of the accounting effect of the LILO transactions based on the revised after-tax cash flows projected from the inception of the leveraged leases as well as the interest on the potential tax liability resulting from the disallowance of federal and state income tax losses with respect to the LILO transactions (see “Uncertain Tax Positions” in Note I). In June 2013, the 1999 LILO transaction was terminated, as a result of which the company realized a $29 million gain (after-tax) and received net cash proceeds of $108 million. In August 2013, the 1997 LILO transaction was terminated, resulting in a $26 million gain (after-tax) and net cash proceeds of $92 million. The effect on Con Edison’s consolidated income statement is as follows:

(Millions of Dollars)	For the Three Months Ended September 30, 2013			For the Nine Months Ended September 30, 2013
Increase/(decrease) to non-utility operating revenues	$	44		$	(27	)
(Increase)/decrease to other interest expense		—			(131	)
Income tax benefit/(expense)		(18	)		63
Total increase/(decrease) in net income	$	26		$	(95	)

The transactions did not impact earnings in 2012.

At September 30, 2013, the company had terminated its LILO transactions and no longer had an investment recorded for these leases in its consolidated balance sheet. At December 31, 2012, the company’s net investment in the LILO transactions was $(76) million, comprised of a $228 million gross investment less $304 million of deferred tax liabilities.

In January 2013, to defray interest charges, the company deposited $447 million with federal and state tax agencies relating primarily to the potential tax liability from these LILO transactions in past tax years and interest thereon. In June 2013, at the company’s request, the IRS returned $95 million of the deposit. In August 2013, an additional $30 million of the deposit was returned from the IRS at the company’s request. In the third quarter of 2013, the IRS completed its audits for the tax years 1998 through 2011 and the company expects to apply a portion of the remaining deposited amounts against its federal tax liability during the fourth quarter of 2013. The company is currently amending its state tax returns for all years covered by the LILOs, and expects that the balance of the deposit will be applied to satisfy its related state tax liability.

Other Contingencies

See “Other Regulatory Matters” in Note B and “Uncertain Tax Positions” in Note I.

Guarantees

Con Edison and its subsidiaries enter into various agreements providing financial or performance assurance primarily to third parties on behalf of their subsidiaries. Maximum amounts guaranteed by Con Edison totaled $1,272 million and $859 million at September 30, 2013 and December 31, 2012, respectively.

A summary, by type and term, of Con Edison’s total guarantees at September 30, 2013 is as follows:

Guarantee Type	0 – 3 years		4 – 10 years		> 10 years		Total
	(Millions of Dollars)
Energy transactions	$	705	$	52	$	25	$	782
Solar energy projects		443		—		4		447
Intra-company guarantees		16		—		—		16
Other guarantees		27		—		—		27
Total	$	1,191	$	52	$	29	$	1,272

Energy Transactions — Con Edison guarantees payments on behalf of its competitive energy businesses in order to facilitate physical and financial transactions in gas, pipeline capacity, transportation, oil, electricity, renewable energy credits and energy services. To the extent that liabilities exist under the contracts subject to these guarantees, such liabilities are included in Con Edison’s consolidated balance sheet.

Solar Energy Projects — Con Edison and Con Edison Development guarantee payments associated with the investment in solar energy generation facilities on behalf of their wholly-owned subsidiaries. In addition, Con Edison Development has entered into a guarantee ($80 million maximum) on behalf of an entity in which it has a 50 percent interest (see Note M) in connection with the construction of solar energy generation facilities. Con Edison Development also provided $4 million in guarantees to Travelers Insurance Company for indemnity agreements for surety bonds in connection with the construction and operation of solar energy facilities performed by its subsidiaries.

Intra-company Guarantees — Con Edison guarantees electricity sales made by Con Edison Energy and Con Edison Solutions to O&R and CECONY.

Other Guarantees — Con Edison and Con Edison Development also guarantee the following:

• $2 million relates to guarantees issued by Con Edison to CECONY covering a former Con Edison subsidiary’s lease payment to use CECONY’s conduit system in accordance with a tariff approved by the NYSPSC and a guarantee issued by Con Edison to a landlord to guarantee the former subsidiary’s obligations under a building lease. The former subsidiary is obligated to reimburse Con Edison for any payments made under these guarantees. This obligation is fully secured by letters of credit;

• $25 million for guarantees provided by Con Edison to Travelers Insurance Company for indemnity agreements for surety bonds in connection with energy service projects performed by Con Edison Solutions; and

• Con Edison, on behalf of Con Edison Solutions, as a retail electric provider, issued a guarantee to the Public Utility Commission of Texas with no specified limitation on the amount guaranteed, covering the payment of all obligations of a retail electric provider. Con Edison’s estimate of the maximum potential obligation is $5 million as of September 30, 2013.

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Other Material Contingencies - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	1 Months Ended			3 Months Ended							9 Months Ended
	Aug. 31, 2013	Jun. 30, 2013	Jan. 31, 2013	Mar. 31, 2013	Sep. 30, 2013 Lawsuits	Dec. 31, 2012	Sep. 30, 2013 Con Edison [Member]	Aug. 31, 2013 IRS [Member]	Jun. 30, 2013 IRS [Member]	Sep. 30, 2013 Insurance Receivables [Member]	Sep. 30, 2013 Tax deficiency paid in December 2005 [Member]	Sep. 30, 2013 Interest in April 2006 [Member]	Sep. 30, 2013 Leases [Member]	Sep. 30, 2013 Energy [Member]	Sep. 30, 2013 Solar Energy Projects [Member]	Sep. 30, 2013 Construction [Member]
Operating Leased Assets [Line Items]
Number of suits pending against the company					90
Estimated accrued liability for suits										$ 50
Insurance receivable for suits					50
Total investment in electric generating and gas distribution facilities					259
Transactions financed with equity					93
Transactions financed with non-recourse					166
Tax deficiency paid to IRS											0.3
Interest paid related to tax deficiency												0.2
Disallowed deduction											574
Estimated charge after-tax				150
Gain from LILO transaction termination	26	29
Proceeds from the termination of a LILO transaction	92	108
The company's net investment in LILO transactions						(76)
Gross investment in LILO transactions						228
Deferred tax liabilities						304
Defray of interest charges relating to potential tax liability			447
Returned deposit from IRS					375	70		30	95
Guarantee obligations maximum exposure					1,272	859									80
Percentage of membership interest							50.00%
Guarantees issued													2	25		4
Maximum potential obligation					$ 5

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Consolidated Statement of Comprehensive Income (Parenthetical) (USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Pension plan liability adjustments, taxes	$ 1	$ 1	$ 4	$ 5
CECONY [Member]
Pension plan liability adjustments, taxes				$ (1)

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Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2013

Summary of Significant Accounting Policies

Note A — Summary of Significant Accounting Policies

Reclassifications and Revisions

Prior period amounts have been reclassified where necessary to conform to the current period presentation.

Con Edison’s consolidated statement of cash flows for the six months ended June 30, 2013, incorrectly reduced net cash flows from financing activities and increased net cash flows from operating activities by an amount equal to the $108 million of net cash proceeds from the termination of the 1999 LILO transaction. A revision will be made on Con Edison’s consolidated statement of cash flows for the six months ended June 30, 2013 when the company files its Form 10-Q for the quarterly period ended June 30, 2014. The company does not deem this revision material to its consolidated financial statements for the six months ended June 30, 2013.

Earnings Per Common Share

For the three and nine months ended September 30, 2013 and 2012, basic and diluted earnings per share (EPS) for Con Edison are calculated as follows:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
(Millions of Dollars, except per share amounts/Shares in Millions)	2013		2012		2013		2012
Net income for common stock	$	464	$	440	$	828	$	931
Weighted average common shares outstanding – basic		292.9		292.9		292.9		292.9
Add: Incremental shares attributable to effect of potentially dilutive securities		1.4		1.7		1.4		1.7
Adjusted weighted average common shares outstanding – diluted		294.3		294.6		294.3		294.6
Net income for common stock per common share – basic	$	1.58	$	1.50	$	2.83	$	3.18
Net income for common stock per common share – diluted	$	1.58	$	1.49	$	2.81	$	3.16

The computation of diluted EPS for the three and nine months ended September 30, 2013 and 2012 excludes immaterial amounts of performance share awards which were not included because of their anti-dilutive effect.

Changes in Accumulated Other Comprehensive Income by Component

For the three and nine months ended September 30, 2013, changes to accumulated other comprehensive income (OCI) for Con Edison and CECONY are as follows:

(Millions of Dollars)	Con Edison			CECONY
Accumulated OCI, net of taxes, at December 31, 2012	$	(53	)	$	(9	)
OCI before reclassifications, net of tax of $1 and $- for Con Edison and CECONY, respectively		1			—
Amounts reclassified from accumulated OCI related to pension plan liabilities, net of tax of $1 and $- for Con Edison and CECONY, respectively (a)(b)		2			—
Total OCI, net of taxes, at March 31, 2013	$	3		$	—
Accumulated OCI, net of taxes, at March 31, 2013 (b)	$	(50	)	$	(9	)
OCI before reclassifications		—			—
Amounts reclassified from accumulated OCI related to pension plan liabilities, net of tax of $1 and $- for Con Edison and CECONY, respectively (a)(b)		2			—
Total OCI, net of taxes, at June 30, 2013	$	2		$	—
Accumulated OCI, net of taxes, at June 30, 2013 (b)	$	(48	)	$	(9	)
OCI before reclassifications		—			—
Amounts reclassified from accumulated OCI related to pension plan liabilities, net of tax of $1 and $- for Con Edison and CECONY, respectively (a)(b)		2			—
Total OCI, net of taxes, at September 30, 2013	$	2		$	—
Accumulated OCI, net of taxes, at September 30, 2013 (b)	$	(46	)	$	(9	)

(a) For the portion of unrecognized pension and other postretirement benefit costs relating to the regulated Utilities, costs are recorded into, and amortized out of, regulatory assets instead of OCI. The net actuarial losses and prior service costs recognized during the period are included in the computation of net periodic pension and other postretirement benefit cost. See Notes E and F.

(b) Tax reclassified from accumulated OCI is reported in the income tax expense line item of the income statement.

CECONY [Member]

Summary of Significant Accounting Policies

Note A — Summary of Significant Accounting Policies

Reclassifications and Revisions

Prior period amounts have been reclassified where necessary to conform to the current period presentation.

Con Edison’s consolidated statement of cash flows for the six months ended June 30, 2013, incorrectly reduced net cash flows from financing activities and increased net cash flows from operating activities by an amount equal to the $108 million of net cash proceeds from the termination of the 1999 LILO transaction. A revision will be made on Con Edison’s consolidated statement of cash flows for the six months ended June 30, 2013 when the company files its Form 10-Q for the quarterly period ended June 30, 2014. The company does not deem this revision material to its consolidated financial statements for the six months ended June 30, 2013.

Earnings Per Common Share

For the three and nine months ended September 30, 2013 and 2012, basic and diluted earnings per share (EPS) for Con Edison are calculated as follows:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
(Millions of Dollars, except per share amounts/Shares in Millions)	2013		2012		2013		2012
Net income for common stock	$	464	$	440	$	828	$	931
Weighted average common shares outstanding – basic		292.9		292.9		292.9		292.9
Add: Incremental shares attributable to effect of potentially dilutive securities		1.4		1.7		1.4		1.7
Adjusted weighted average common shares outstanding – diluted		294.3		294.6		294.3		294.6
Net income for common stock per common share – basic	$	1.58	$	1.50	$	2.83	$	3.18
Net income for common stock per common share – diluted	$	1.58	$	1.49	$	2.81	$	3.16

The computation of diluted EPS for the three and nine months ended September 30, 2013 and 2012 excludes immaterial amounts of performance share awards which were not included because of their anti-dilutive effect.

Changes in Accumulated Other Comprehensive Income by Component

For the three and nine months ended September 30, 2013, changes to accumulated other comprehensive income (OCI) for Con Edison and CECONY are as follows:

(Millions of Dollars)	Con Edison			CECONY
Accumulated OCI, net of taxes, at December 31, 2012	$	(53	)	$	(9	)
OCI before reclassifications, net of tax of $1 and $- for Con Edison and CECONY, respectively		1			—
Amounts reclassified from accumulated OCI related to pension plan liabilities, net of tax of $1 and $- for Con Edison and CECONY, respectively (a)(b)		2			—
Total OCI, net of taxes, at March 31, 2013	$	3		$	—
Accumulated OCI, net of taxes, at March 31, 2013 (b)	$	(50	)	$	(9	)
OCI before reclassifications		—			—
Amounts reclassified from accumulated OCI related to pension plan liabilities, net of tax of $1 and $- for Con Edison and CECONY, respectively (a)(b)		2			—
Total OCI, net of taxes, at June 30, 2013	$	2		$	—
Accumulated OCI, net of taxes, at June 30, 2013 (b)	$	(48	)	$	(9	)
OCI before reclassifications		—			—
Amounts reclassified from accumulated OCI related to pension plan liabilities, net of tax of $1 and $- for Con Edison and CECONY, respectively (a)(b)		2			—
Total OCI, net of taxes, at September 30, 2013	$	2		$	—
Accumulated OCI, net of taxes, at September 30, 2013 (b)	$	(46	)	$	(9	)

(a) For the portion of unrecognized pension and other postretirement benefit costs relating to the regulated Utilities, costs are recorded into, and amortized out of, regulatory assets instead of OCI. The net actuarial losses and prior service costs recognized during the period are included in the computation of net periodic pension and other postretirement benefit cost. See Notes E and F.

(b) Tax reclassified from accumulated OCI is reported in the income tax expense line item of the income statement.

XML

New Financial Accounting Standards

9 Months Ended

Sep. 30, 2013

New Financial Accounting Standards

Note O — New Financial Accounting Standards

In December 2011 and January 2013, the Financial Accounting Standards Board (FASB) issued amendments to address and clarify the scope of the balance sheet off-setting disclosure guidance within Accounting Standards Codification (ASC) 210, “Balance Sheet.” ASU No. 2011-11 and ASU No. 2013-01, “Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities,” provide guidance that requires a reporting entity to disclose certain quantitative information concerning financial and derivative instruments that are offset in the balance sheet and a description of the rights of setoff, including the nature of such rights, associated with recognized assets and liabilities that are subject to an enforceable master netting arrangement or similar agreement. ASU No. 2013-01 clarifies that financial instruments subject to the disclosure guidance are (1) derivatives accounted for in accordance with ASC 815, Derivatives and Hedging, (2) repurchase agreements and reverse purchase agreements and (3) securities borrowing and securities lending transactions that are either offset in accordance with ASC Section 210-20-45 or Section 815-10-45 or subject to an enforceable master netting arrangement or similar agreement. A reporting entity electing gross presentation of such assets and liabilities in its balance sheet will still be subject to the same disclosure requirements. Both ASUs are applicable for fiscal years beginning on or after January 1, 2013, interim periods within those fiscal years, and retrospectively for all comparative periods presented. The application of this guidance does not have a material impact on the Companies’ financial position, results of operations and liquidity. See Note K.

In February 2013, the FASB issued amendments to improve the reporting of reclassifications out of accumulated OCI through ASU No. 2013-02, “Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income.” The amendments require an entity to provide information either on the face of the financial statements or in a single footnote on significant amounts reclassified out of accumulated OCI and the related income statement line items to the extent an amount is reclassified in its entirety to net income under U.S. GAAP. For significant items not reclassified to net income in their entirety, an entity is required to cross-reference to other disclosures that provide additional information. For public entities, the amendments are effective prospectively for reporting periods beginning after December 15, 2012. The application of this guidance does not have a material impact on the Companies’ financial position, results of operations and liquidity. See Note A.

In July 2013, the FASB issued ASU No. 2013-10, “Derivatives and Hedging (Topic 815): Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes (a consensus of the FASB Emerging Issues Task Force).” The new guidance permits designating the Federal Funds Effective Swap Rate as a benchmark interest rate for hedge accounting. Previously, only the U.S. Treasury and LIBOR rates were allowed under the hedge accounting rules in U.S. GAAP. The new guidance also eliminates the restriction on using different benchmark interest rates for similar hedges. The amendments are effective prospectively for qualifying new or redesignated hedging relationships entered into on or after July 17, 2013. The application of this guidance does not have a material impact on the Companies’ financial position, results of operations and liquidity.

In July 2013, the FASB issued ASU No. 2013-11, “Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit when a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (a Consensus of the FASB Emerging Issues Task Force).” The amendments require a liability related to an unrecognized tax benefit to be presented on a net basis with its associated deferred tax asset when utilization of such deferred tax assets is required or expected in the event the uncertain tax position is disallowed. Otherwise, the unrecognized tax benefit will be presented as a liability and will not be netted against deferred tax assets. For public entities, the amendments are effective prospectively for fiscal years, and interim periods within those years, beginning after December 15, 2013. The application of this guidance is not expected to have a material impact on the Companies’ financial position, results of operations and liquidity. See Note I.

CECONY [Member]

New Financial Accounting Standards

Note O — New Financial Accounting Standards

In December 2011 and January 2013, the Financial Accounting Standards Board (FASB) issued amendments to address and clarify the scope of the balance sheet off-setting disclosure guidance within Accounting Standards Codification (ASC) 210, “Balance Sheet.” ASU No. 2011-11 and ASU No. 2013-01, “Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities,” provide guidance that requires a reporting entity to disclose certain quantitative information concerning financial and derivative instruments that are offset in the balance sheet and a description of the rights of setoff, including the nature of such rights, associated with recognized assets and liabilities that are subject to an enforceable master netting arrangement or similar agreement. ASU No. 2013-01 clarifies that financial instruments subject to the disclosure guidance are (1) derivatives accounted for in accordance with ASC 815, Derivatives and Hedging, (2) repurchase agreements and reverse purchase agreements and (3) securities borrowing and securities lending transactions that are either offset in accordance with ASC Section 210-20-45 or Section 815-10-45 or subject to an enforceable master netting arrangement or similar agreement. A reporting entity electing gross presentation of such assets and liabilities in its balance sheet will still be subject to the same disclosure requirements. Both ASUs are applicable for fiscal years beginning on or after January 1, 2013, interim periods within those fiscal years, and retrospectively for all comparative periods presented. The application of this guidance does not have a material impact on the Companies’ financial position, results of operations and liquidity. See Note K.

In February 2013, the FASB issued amendments to improve the reporting of reclassifications out of accumulated OCI through ASU No. 2013-02, “Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income.” The amendments require an entity to provide information either on the face of the financial statements or in a single footnote on significant amounts reclassified out of accumulated OCI and the related income statement line items to the extent an amount is reclassified in its entirety to net income under U.S. GAAP. For significant items not reclassified to net income in their entirety, an entity is required to cross-reference to other disclosures that provide additional information. For public entities, the amendments are effective prospectively for reporting periods beginning after December 15, 2012. The application of this guidance does not have a material impact on the Companies’ financial position, results of operations and liquidity. See Note A.

In July 2013, the FASB issued ASU No. 2013-10, “Derivatives and Hedging (Topic 815): Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes (a consensus of the FASB Emerging Issues Task Force).” The new guidance permits designating the Federal Funds Effective Swap Rate as a benchmark interest rate for hedge accounting. Previously, only the U.S. Treasury and LIBOR rates were allowed under the hedge accounting rules in U.S. GAAP. The new guidance also eliminates the restriction on using different benchmark interest rates for similar hedges. The amendments are effective prospectively for qualifying new or redesignated hedging relationships entered into on or after July 17, 2013. The application of this guidance does not have a material impact on the Companies’ financial position, results of operations and liquidity.

In July 2013, the FASB issued ASU No. 2013-11, “Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit when a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (a Consensus of the FASB Emerging Issues Task Force).” The amendments require a liability related to an unrecognized tax benefit to be presented on a net basis with its associated deferred tax asset when utilization of such deferred tax assets is required or expected in the event the uncertain tax position is disallowed. Otherwise, the unrecognized tax benefit will be presented as a liability and will not be netted against deferred tax assets. For public entities, the amendments are effective prospectively for fiscal years, and interim periods within those years, beginning after December 15, 2013. The application of this guidance is not expected to have a material impact on the Companies’ financial position, results of operations and liquidity. See Note I.

XML

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) (USD $) In Millions, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Con Edison [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	$ 299	$ 279
Total liabilities	53	78
CECONY [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	243	227
Total liabilities	25	39
Commodity [Member] | Con Edison [Member] | Derivatives Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	62	66
Commodity [Member] | Con Edison [Member] | Derivatives Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	50	72
Commodity [Member] | CECONY [Member] | Derivatives Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	23	30
Commodity [Member] | CECONY [Member] | Derivatives Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	25	39
Other assets [Member] | Con Edison [Member] | Derivatives Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	237	213
Other assets [Member] | CECONY [Member] | Derivatives Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	220	197
Interest rate contract [Member] | Con Edison [Member] | Derivatives Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	3	6
Interest rate contract [Member] | CECONY [Member] | Derivatives Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities
Level 1 [Member] | Con Edison [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	130	106
Total liabilities	9	12
Level 1 [Member] | CECONY [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	123	99
Total liabilities	9	12
Level 1 [Member] | Commodity [Member] | Con Edison [Member] | Derivatives Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	1
Level 1 [Member] | Commodity [Member] | Con Edison [Member] | Derivatives Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	9	12
Level 1 [Member] | Commodity [Member] | CECONY [Member] | Derivatives Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	1
Level 1 [Member] | Commodity [Member] | CECONY [Member] | Derivatives Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	9	12
Level 1 [Member] | Other assets [Member] | Con Edison [Member] | Derivatives Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	129	106
Level 1 [Member] | Other assets [Member] | CECONY [Member] | Derivatives Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	122	99
Level 1 [Member] | Interest rate contract [Member] | Con Edison [Member] | Derivatives Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities
Level 1 [Member] | Interest rate contract [Member] | CECONY [Member] | Derivatives Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities
Level 2 [Member] | Con Edison [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	160	150
Total liabilities	77	122
Level 2 [Member] | CECONY [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	104	106
Total liabilities	37	62
Level 2 [Member] | Commodity [Member] | Con Edison [Member] | Derivatives Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	52	43
Level 2 [Member] | Commodity [Member] | Con Edison [Member] | Derivatives Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	74	116
Level 2 [Member] | Commodity [Member] | CECONY [Member] | Derivatives Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	6	8
Level 2 [Member] | Commodity [Member] | CECONY [Member] | Derivatives Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	37	62
Level 2 [Member] | Other assets [Member] | Con Edison [Member] | Derivatives Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	108	107
Level 2 [Member] | Other assets [Member] | CECONY [Member] | Derivatives Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	98	98
Level 2 [Member] | Interest rate contract [Member] | Con Edison [Member] | Derivatives Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	3	6
Level 2 [Member] | Interest rate contract [Member] | CECONY [Member] | Derivatives Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities
Level 3 [Member] | Con Edison [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	9	33
Total liabilities	23	38
Level 3 [Member] | CECONY [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	8	10
Total liabilities
Level 3 [Member] | Commodity [Member] | Con Edison [Member] | Derivatives Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	9	33
Level 3 [Member] | Commodity [Member] | Con Edison [Member] | Derivatives Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	23	38
Level 3 [Member] | Commodity [Member] | CECONY [Member] | Derivatives Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	8	10
Level 3 [Member] | Commodity [Member] | CECONY [Member] | Derivatives Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities
Level 3 [Member] | Other assets [Member] | Con Edison [Member] | Derivatives Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets
Level 3 [Member] | Other assets [Member] | CECONY [Member] | Derivatives Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets
Level 3 [Member] | Interest rate contract [Member] | Con Edison [Member] | Derivatives Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities
Level 3 [Member] | Interest rate contract [Member] | CECONY [Member] | Derivatives Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities
Netting Adjustments [Member] | Con Edison [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets		(10)
Total liabilities	(56)	(94)
Netting Adjustments [Member] | CECONY [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	8	12
Total liabilities	(21)	(35)
Netting Adjustments [Member] | Commodity [Member] | Con Edison [Member] | Derivatives Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		(10)
Netting Adjustments [Member] | Commodity [Member] | Con Edison [Member] | Derivatives Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	(56)	(94)
Netting Adjustments [Member] | Commodity [Member] | CECONY [Member] | Derivatives Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	8	12
Netting Adjustments [Member] | Commodity [Member] | CECONY [Member] | Derivatives Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	(21)	(35)
Netting Adjustments [Member] | Other assets [Member] | Con Edison [Member] | Derivatives Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets
Netting Adjustments [Member] | Other assets [Member] | CECONY [Member] | Derivatives Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets
Netting Adjustments [Member] | Interest rate contract [Member] | Con Edison [Member] | Derivatives Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities
Netting Adjustments [Member] | Interest rate contract [Member] | CECONY [Member] | Derivatives Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities

XML

Income Tax - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended				9 Months Ended
	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Operating Loss Carryforwards [Line Items]
INCOME TAX EXPENSE	$ 250			$ 261	$ 373	$ 501
Effective tax rate	35.00%			37.00%	31.00%	35.00%
Estimated federal and state uncertain tax positions	8		72		8
Decrease in estimated prior year liabilities		238
Interest charges related to uncertain tax positions			126
Reduced interest expenses	5
Interest charges related to uncertain tax position, LILO transaction			131
Unrecognized tax benefits amount	5				5
Federal and State [Member]
Operating Loss Carryforwards [Line Items]
Estimated federal and state uncertain tax positions			238
CECONY [Member]
Operating Loss Carryforwards [Line Items]
INCOME TAX EXPENSE	222			227	431	436
Effective tax rate	36.00%			37.00%	34.00%	35.00%
Federal income tax benefits	7
Estimated federal and state uncertain tax positions			66
Reduced interest expenses	3		5
Con Edison [Member]
Operating Loss Carryforwards [Line Items]
INCOME TAX EXPENSE	$ 6				$ 6

XML

Income Tax

9 Months Ended

Sep. 30, 2013

Income Tax

Note I — Income Tax

Con Edison’s income tax expense decreased to $250 million for the three months ended September 30, 2013, from $261 million for the three months ended September 30, 2012. The effective tax rates for the three months ended September 30, 2013 and 2012 were 35 percent and 37 percent, respectively. The decrease in the effective tax rate in 2013 is due primarily to reductions in liabilities for uncertain tax positions related to the completion of the IRS audits in the third quarter of 2013 (see “Uncertain Tax Positions,” below) and favorable tax adjustments recorded in conjunction with filing Con Edison’s 2012 consolidated federal tax return in September. The favorable tax adjustments are primarily due to higher flow-through federal income tax benefits related to plant and higher renewable energy tax credits.

Con Edison’s income tax expense decreased to $373 million for the nine months ended September 30, 2013, from $501 million for the nine months ended September 30, 2012. The effective tax rates for the nine months ended September 30, 2013 and 2012 were 31 percent and 35 percent, respectively. The decrease in the effective tax rate in 2013 is due primarily to the favorable tax adjustments discussed above and the impact of comparable favorable reconciling items on reduced income before income tax expense in the 2013 period compared with the 2012 period. Additionally, in the first quarter of 2013, the IRS accepted on audit the company’s claim for manufacturing tax deductions. This deduction, plus higher state income taxes in 2012, also resulted in a reduction in the 2013 effective tax rate.

CECONY’s income tax expense decreased to $222 million for the three months ended September 30, 2013, from $227 million for the three months ended September 30, 2012. The effective tax rates for the three months ended September 30, 2013 and 2012 were 36 percent and 37 percent, respectively. CECONY’s income tax expense decreased to $431 million for the nine months ended September 30, 2013, from $436 million for the nine months ended September 30, 2012. The effective tax rates for the nine months ended September 30, 2013 and 2012 were 34 percent and 35 percent, respectively. The decreases in the effective tax rates for the three and nine months ended September 30, 2013, are due primarily to higher flow-through federal income tax benefits ($7 million) reflected in CECONY’s federal tax return filed in September.

In September 2013, the IRS issued final regulations that provide guidance on the appropriate tax treatment of costs incurred to acquire, produce or improve tangible property. The new regulations, effective beginning in 2014, permit an acceleration of tax deductions for certain materials and supplies recorded as inventory for financial accounting purposes. The application of these regulations is not expected to have a material impact on the Companies’ financial position, results of operations or liquidity.

Uncertain Tax Positions

During the first quarter of 2013, the IRS accepted Con Edison’s deductions for repair costs to utility plant (the “repair allowance deductions”). As a result of this settlement, Con Edison and CECONY reduced their estimated liabilities for prior year uncertain tax positions by $72 million and $66 million, respectively, with a corresponding increase to accumulated deferred income tax liabilities. In addition, as a result of the January 2013 Court of Appeals decision (see “Lease In/Lease Out Transactions” in Note H), Con Edison increased its estimated prior year liabilities for federal and state uncertain tax positions by $238 million in the first quarter of 2013, with a corresponding reduction to accumulated deferred income tax liabilities. In June 2013, Con Edison entered into a closing agreement with the IRS regarding the 1997 and 1999 LILO transactions, as a result of which the company decreased its estimated prior year liabilities for federal and state uncertain tax positions by $238 million in the second quarter of 2013, with a corresponding increase to its current income tax liability. These changes to the Companies’ estimated liabilities for uncertain tax positions had no impact on income tax expense for the nine months ended September 30, 2013.

In the third quarter of 2013, the IRS completed its audits for the tax years 1998 through 2011 and the Companies recognized approximately $13 million of income tax benefits ($7 million for CECONY), including $6 million that favorably affected Con Edison’s effective tax rate for the three and nine months ended September 30, 2013. There were no material changes to the Companies’ estimated liabilities for uncertain tax positions during the nine months ended September 30, 2012. At September 30, 2013, the estimated liabilities for uncertain tax positions for Con Edison were $8 million and an immaterial amount for CECONY.

The Companies recognize interest on liabilities for uncertain tax positions in interest expense and would recognize penalties, if any, in operating expenses in the Companies’ consolidated income statements. In the first quarter of 2013, Con Edison recognized $126 million of interest expense ($131 million related to the LILO transactions, less a reduction of $5 million in accrued interest expense primarily associated with repair allowance deductions). In the third quarter of 2013, the Companies’ reversed $5 million ($3 million for CECONY) in accrued interest expense associated with reducing the Companies’ estimated liabilities for uncertain tax positions. The Companies’ accrued interest on uncertain tax positions at September 30, 2013 and December 31, 2012 was immaterial.

The Companies reasonably expect to resolve an immaterial amount of their uncertain tax positions with the IRS within the next twelve months, and accordingly, Con Edison has reflected its estimated liability for uncertain tax positions as noncurrent liabilities on its consolidated balance sheet. At September 30, 2013, the total amount of unrecognized tax benefits that, if recognized, would affect the Companies’ effective tax rate is $5 million for Con Edison and an immaterial amount for CECONY.

CECONY [Member]

Income Tax

Note I — Income Tax

Con Edison’s income tax expense decreased to $250 million for the three months ended September 30, 2013, from $261 million for the three months ended September 30, 2012. The effective tax rates for the three months ended September 30, 2013 and 2012 were 35 percent and 37 percent, respectively. The decrease in the effective tax rate in 2013 is due primarily to reductions in liabilities for uncertain tax positions related to the completion of the IRS audits in the third quarter of 2013 (see “Uncertain Tax Positions,” below) and favorable tax adjustments recorded in conjunction with filing Con Edison’s 2012 consolidated federal tax return in September. The favorable tax adjustments are primarily due to higher flow-through federal income tax benefits related to plant and higher renewable energy tax credits.

Con Edison’s income tax expense decreased to $373 million for the nine months ended September 30, 2013, from $501 million for the nine months ended September 30, 2012. The effective tax rates for the nine months ended September 30, 2013 and 2012 were 31 percent and 35 percent, respectively. The decrease in the effective tax rate in 2013 is due primarily to the favorable tax adjustments discussed above and the impact of comparable favorable reconciling items on reduced income before income tax expense in the 2013 period compared with the 2012 period. Additionally, in the first quarter of 2013, the IRS accepted on audit the company’s claim for manufacturing tax deductions. This deduction, plus higher state income taxes in 2012, also resulted in a reduction in the 2013 effective tax rate.

CECONY’s income tax expense decreased to $222 million for the three months ended September 30, 2013, from $227 million for the three months ended September 30, 2012. The effective tax rates for the three months ended September 30, 2013 and 2012 were 36 percent and 37 percent, respectively. CECONY’s income tax expense decreased to $431 million for the nine months ended September 30, 2013, from $436 million for the nine months ended September 30, 2012. The effective tax rates for the nine months ended September 30, 2013 and 2012 were 34 percent and 35 percent, respectively. The decreases in the effective tax rates for the three and nine months ended September 30, 2013, are due primarily to higher flow-through federal income tax benefits ($7 million) reflected in CECONY’s federal tax return filed in September.

In September 2013, the IRS issued final regulations that provide guidance on the appropriate tax treatment of costs incurred to acquire, produce or improve tangible property. The new regulations, effective beginning in 2014, permit an acceleration of tax deductions for certain materials and supplies recorded as inventory for financial accounting purposes. The application of these regulations is not expected to have a material impact on the Companies’ financial position, results of operations or liquidity.

Uncertain Tax Positions

During the first quarter of 2013, the IRS accepted Con Edison’s deductions for repair costs to utility plant (the “repair allowance deductions”). As a result of this settlement, Con Edison and CECONY reduced their estimated liabilities for prior year uncertain tax positions by $72 million and $66 million, respectively, with a corresponding increase to accumulated deferred income tax liabilities. In addition, as a result of the January 2013 Court of Appeals decision (see “Lease In/Lease Out Transactions” in Note H), Con Edison increased its estimated prior year liabilities for federal and state uncertain tax positions by $238 million in the first quarter of 2013, with a corresponding reduction to accumulated deferred income tax liabilities. In June 2013, Con Edison entered into a closing agreement with the IRS regarding the 1997 and 1999 LILO transactions, as a result of which the company decreased its estimated prior year liabilities for federal and state uncertain tax positions by $238 million in the second quarter of 2013, with a corresponding increase to its current income tax liability. These changes to the Companies’ estimated liabilities for uncertain tax positions had no impact on income tax expense for the nine months ended September 30, 2013.

In the third quarter of 2013, the IRS completed its audits for the tax years 1998 through 2011 and the Companies recognized approximately $13 million of income tax benefits ($7 million for CECONY), including $6 million that favorably affected Con Edison’s effective tax rate for the three and nine months ended September 30, 2013. There were no material changes to the Companies’ estimated liabilities for uncertain tax positions during the nine months ended September 30, 2012. At September 30, 2013, the estimated liabilities for uncertain tax positions for Con Edison were $8 million and an immaterial amount for CECONY.

The Companies recognize interest on liabilities for uncertain tax positions in interest expense and would recognize penalties, if any, in operating expenses in the Companies’ consolidated income statements. In the first quarter of 2013, Con Edison recognized $126 million of interest expense ($131 million related to the LILO transactions, less a reduction of $5 million in accrued interest expense primarily associated with repair allowance deductions). In the third quarter of 2013, the Companies’ reversed $5 million ($3 million for CECONY) in accrued interest expense associated with reducing the Companies’ estimated liabilities for uncertain tax positions. The Companies’ accrued interest on uncertain tax positions at September 30, 2013 and December 31, 2012 was immaterial.

The Companies reasonably expect to resolve an immaterial amount of their uncertain tax positions with the IRS within the next twelve months, and accordingly, Con Edison has reflected its estimated liability for uncertain tax positions as noncurrent liabilities on its consolidated balance sheet. At September 30, 2013, the total amount of unrecognized tax benefits that, if recognized, would affect the Companies’ effective tax rate is $5 million for Con Edison and an immaterial amount for CECONY.

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Other Postretirement Benefits - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Schedule Of Other Postretirement Benefits [Line Items]
Contributions	$ 887	$ 821
Other Postretirement Benefits [Member]
Schedule Of Other Postretirement Benefits [Line Items]
Contributions	9
CECONY [Member]
Schedule Of Other Postretirement Benefits [Line Items]
Contributions	830	761
CECONY [Member] | Other Postretirement Benefits [Member]
Schedule Of Other Postretirement Benefits [Line Items]
Contributions	$ 9

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Financial Information by Business Segment - Financial Data for Business Segments (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Segment Reporting Information [Line Items]
Operating revenues	$ 3,484	$ 3,438	$ 9,487	$ 9,287
Inter-segment revenues
Depreciation and amortization	258	240	764	709
Operating income	855	851	1,767	1,886
Competitive energy businesses [Member]
Segment Reporting Information [Line Items]
Operating revenues	365	344	834	954
Inter-segment revenues		2	4	6
Depreciation and amortization	6	2	16	6
Operating income	63	53	7	111
Other [Member]
Segment Reporting Information [Line Items]
Operating revenues			(3)	(6)
Inter-segment revenues		(2)	(4)	(6)
Depreciation and amortization	1		1
Operating income	1			(3)
CECONY [Member]
Segment Reporting Information [Line Items]
Operating revenues	2,893	2,868	8,021	7,738
Inter-segment revenues
Depreciation and amortization	237	225	705	664
Operating income	752	754	1,659	1,678
CECONY [Member] | Operating Segments [Member] | CECONY - Electric [Member]
Segment Reporting Information [Line Items]
Operating revenues	2,622	2,611	6,309	6,307
Inter-segment revenues	4	4	12	11
Depreciation and amortization	188	179	559	527
Operating income	811	812	1,307	1,383
CECONY [Member] | Operating Segments [Member] | CECONY - Gas [Member]
Segment Reporting Information [Line Items]
Operating revenues	199	189	1,190	1,017
Inter-segment revenues	1	1	4	4
Depreciation and amortization	33	31	97	89
Operating income	(24)	(21)	272	255
CECONY [Member] | Operating Segments [Member] | CECONY - Steam [Member]
Segment Reporting Information [Line Items]
Operating revenues	72	68	522	414
Inter-segment revenues	22	20	60	58
Depreciation and amortization	16	15	49	48
Operating income	(35)	(37)	80	40
CECONY [Member] | Consolidation adjustments [Member]
Segment Reporting Information [Line Items]
Operating revenues
Inter-segment revenues	(27)	(25)	(76)	(73)
Depreciation and amortization
Operating income
O&R [Member]
Segment Reporting Information [Line Items]
Operating revenues	226	226	635	601
Inter-segment revenues
Depreciation and amortization	14	13	42	39
Operating income	39	44	101	100
O&R [Member] | Operating Segments [Member] | CECONY - Electric [Member]
Segment Reporting Information [Line Items]
Operating revenues	200	199	492	457
Inter-segment revenues
Depreciation and amortization	10	10	31	28
Operating income	46	50	81	74
O&R [Member] | Operating Segments [Member] | CECONY - Gas [Member]
Segment Reporting Information [Line Items]
Operating revenues	26	27	143	144
Inter-segment revenues
Depreciation and amortization	4	3	11	11
Operating income	$ (7)	$ (6)	$ 20	$ 26

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Summary of Significant Accounting Policies - Changes in Accumulated Other Comprehensive Income by Component (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended				9 Months Ended
	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Accumulated OCI, net of taxes	$ (48)	$ (50)	$ (53)		$ (53)
OCI before reclassifications, net of tax			1
Amounts reclassified from accumulated OCI related to pension plan liabilities, net of tax of $1 and $- for Con Edison and CECONY, respectively	2	2	2
TOTAL OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAXES	2	2	3	2	7	8
Accumulated OCI, net of taxes	(46)	(48)	(50)		(46)
CECONY [Member]
Accumulated OCI, net of taxes	(9)	(9)	(9)		(9)
OCI before reclassifications, net of tax
Amounts reclassified from accumulated OCI related to pension plan liabilities, net of tax of $1 and $- for Con Edison and CECONY, respectively
TOTAL OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAXES						(2)
Accumulated OCI, net of taxes	$ (9)	$ (9)	$ (9)		$ (9)

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Capitalization (Tables)

9 Months Ended

Sep. 30, 2013

Regulated Operations [Abstract]

Carrying Amounts and Fair Values of Long-Term Debt

The carrying amounts and fair values of long-term debt are:

(Millions of Dollars)	September 30, 2013				December 31, 2012
Long-Term Debt (including current portion)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Con Edison		$10,976		$12,213		$10,768		$12,935
CECONY		$  9,841		$10,925		$  9,845		$11,751

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Regulatory Matters (Tables)

9 Months Ended

Sep. 30, 2013

Text Block [Abstract]

Regulatory Assets and Liabilities

Regulatory Assets and Liabilities

Regulatory assets and liabilities at September 30, 2013 and December 31, 2012 were comprised of the following items:

	Con Edison				CECONY
(Millions of Dollars)	2013		2012		2013		2012
Regulatory assets
Unrecognized pension and other postretirement costs		$5,011		$5,677		$4,779		$5,407
Future income tax		2,035		1,922		1,929		1,831
Environmental remediation costs		704		730		591		615
Deferred storm costs		451		432		340		309
Pension and other postretirement benefits deferrals		229		183		201		154
Revenue taxes		191		176		182		170
Surcharge for New York State assessment		119		73		113		68
Net electric deferrals		88		102		88		102
Unamortized loss on reacquired debt		67		74		64		70
Deferred derivative losses – long-term		34		40		13		20
O&R transition bond charges		34		39		—		—
Preferred stock redemption		28		29		28		29
Property tax reconciliation		20		16		—		—
Workers’ compensation		16		19		16		19
Other		163		193		153		178
Regulatory assets – long-term		9,190		9,705		8,497		8,972
Deferred derivative losses – current		45		69		42		60
Recoverable energy costs – current		1		5		—		—
Regulatory assets – current		46		74		42		60
Total Regulatory Assets		$9,236		$9,779		$8,539		$9,032
Regulatory liabilities
Allowance for cost of removal less salvage		$   522		$   503		$   436		$   420
Property tax reconciliation		290		187		290		187
Property tax refunds		130		7		129		6
Net unbilled revenue deferrals		104		136		104		136
Long-term interest rate reconciliation		94		62		94		62
World Trade Center settlement proceeds		62		62		62		62
Carrying charges on T&D net plant – electric and steam		30		31		20		13
Expenditure prudence proceeding		16		14		16		14
Other		309		200		280		177
Regulatory liabilities – long-term		1,557		1,202		1,431		1,077
Refundable energy costs – current		64		82		36		48
Revenue decoupling mechanism		51		72		49		68
Deferred derivative gains – current		2		—		1		—
Electric surcharge offset		—		29		—		29
Regulatory liabilities – current		117		183		86		145
Total Regulatory Liabilities		$1,674		$1,385		$1,517		$1,222

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Pension Benefits - Additional Information (Detail) (Pension benefits [Member], USD $) In Millions, unless otherwise specified	9 Months Ended
	Sep. 30, 2013
Defined Benefit Plan Disclosure [Line Items]
Contributions	$ 867
Funds made to non-qualified supplemental plan	11
CECONY [Member]
Defined Benefit Plan Disclosure [Line Items]
Contributions	$ 810

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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2013

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value on Recurring Basis

Assets and liabilities measured at fair value on a recurring basis as of September 30, 2013 are summarized below.

	Level 1				Level 2				Level 3				Netting Adjustments(d)				Total
(Millions of Dollars)	Con Edison		CECONY		Con Edison		CECONY		Con Edison		CECONY		Con Edison		CECONY		Con Edison		CECONY
Derivative assets:
Commodity (a)(e)	$	1	$	1	$	52	$	6	$	9	$	8	$	—	$	8	$	62	$	23
Other assets (c)(e)		129		122		108		98		—		—		—		—		237		220
Total	$	130	$	123	$	160	$	104	$	9	$	8	$	—	$	8	$	299	$	243
Derivative liabilities:
Commodity (a)(e)	$	9	$	9	$	74	$	37	$	23	$	—	$	(56)	$	(21)	$	50	$	25
Interest rate contract (b)(e)		—		—		3		—		—		—		—		—		3		—
Total	$	9	$	9	$	77	$	37	$	23	$	—	$	(56)	$	(21)	$	53	$	25

(a) A portion of the commodity derivatives categorized in Level 3 is valued using an internally developed model with observable inputs. The models also include some less readily observable inputs resulting in the classification of the entire contract as Level 3. See Note K.

(b) See Note K.

(c) Other assets are comprised of assets such as life insurance contracts within the deferred compensation plan and non-qualified retirement plans.

(d) Amounts represent the impact of legally-enforceable master netting agreements that allow the Companies to net gain and loss positions and cash collateral held or placed with the same counterparties.

(e) The Companies’ policy is to recognize transfers into and transfers out of the levels at the end of the reporting period. There were no transfers between levels 1, 2, and 3 for the nine months ended September 30, 2013.

Assets and liabilities measured at fair value on a recurring basis as of December 31, 2012 are summarized below.

	Level 1				Level 2				Level 3				Netting Adjustments(d)						Total
(Millions of Dollars)	Con Edison		CECONY		Con Edison		CECONY		Con Edison		CECONY		Con Edison			CECONY			Con Edison		CECONY
Derivative assets:
Commodity (a)(e)	$	—	$	—	$	43	$	8	$	33	$	10		$(10	)		$12		$	66	$	30
Other assets (c)(e)(f)		106		99		107		98		—		—		—			—			213		197
Total	$	106	$	99	$	150	$	106	$	33	$	10		$(10	)		$12		$	279	$	227
Derivative liabilities:
Commodity (a)(e)(h)	$	12	$	12	$	116	$	62	$	38	$	—		$(94	)		$(35	)	$	72	$	39
Interest rate contract (b)(e)(g)		—		—		6		—		—		—		—			—			6		—
Total	$	12	$	12	$	122	$	62	$	38	$	—		$(94	)		$(35	)	$	78	$	39

(a) A significant portion of the commodity derivative contracts categorized in Level 3 is valued using either an industry acceptable model or an internally developed model with observable inputs. The models also include some less readily observable inputs resulting in the classification of the entire contract as Level 3. See Note K.

(b) See Note K.

(c) Other assets are comprised of assets such as life insurance contracts within the deferred compensation plan and non-qualified retirement plans.

(d) Amounts represent the impact of legally-enforceable master netting agreements that allow the Companies to net gain and loss positions and cash collateral held or placed with the same counterparties.

(e) The Companies’ policy is to recognize transfers into and transfers out of the levels at the end of the reporting period.

(f) On March 31, 2012, other assets of $105 million for Con Edison and $95 million for CECONY were transferred from Level 3 to Level 2 because of reassessment of the levels in the fair value hierarchy within which certain inputs fall as of March 31, 2012.

(g) On March 31, 2012, interest rate contract of $8 million was transferred from Level 3 to Level 2 because of reassessment of the levels in the fair value hierarchy within which certain inputs fall.

(h) During 2012, Con Edison transferred commodity derivative contract liabilities of $2 million from Level 1 to Level 2, $9 million from Level 2 to Level 1, $2 million from Level 2 to Level 3, and $11 million from Level 3 to Level 2 because of reassessment of the levels in the fair value hierarchy within which certain inputs fall.

Schedule of Commodity Derivatives

The managers of the risk management groups report to the Companies’ Vice President and Treasurer.

	Fair Value of Level 3 at September 30, 2013 (Millions of Dollars)				Valuation Techniques	Unobservable Inputs	Range
Con Edison—Commodity
Electricity		$	(6	)	Discounted Cash Flow	Forward energy prices (a)	$24-$99 per MWH
Standard Offer Capacity Agreements			(17	)	Discounted Cash Flow	Forward capacity prices (a) Present value factor (a)	$119-$248 MW -day 2.64%
Transmission Congestion Contracts / Financial Transmission Rights			9		Discounted Cash Flow	Discount to adjust auction prices for inter-zonal forward price curves (b)	(5.8)%-42.4%
						Discount to adjust auction prices for historical monthly realized settlements (b)	(102.4)%-49.2%
						Inter-zonal forward price curves adjusted for historical zonal losses (b)	$1.56-$2.16
Total Con Edison—Commodity		$	(14	)
CECONY— Commodity
Transmission Congestion Contracts		$	8		Discounted Cash Flow	Discount to adjust auction prices for inter-zonal forward price curves (b)	(5.8)%-42.4%
						Discount to adjust auction prices for historical monthly realized settlements (b)	(102.4)%-49.2%

(a) Generally, increases/(decreases) in this input in isolation would result in a higher/(lower) fair value measurement.

(b) Generally, increases/(decreases) in this input in isolation would result in a lower/(higher) fair value measurement.

Reconciliation of Beginning and Ending Net Balances for Assets and Liabilities Measured at Level 3 Fair Value

The table listed below provides a reconciliation of the beginning and ending net balances for assets and liabilities measured at fair value as of September 30, 2013 and 2012 and classified as Level 3 in the fair value hierarchy:

	For Three Months Ended September 30, 2013
				Total Gains/(Losses)— Realized and Unrealized
(Millions of Dollars)	Beginning Balance as of July 1, 2013			Included in Earnings			Included in Regulatory Assets and Liabilities		Purchases		Issuances		Sales		Settlements		Transfer In/Out of Level 3		Ending Balance as of September 30, 2013
Con Edison
Derivatives:
Commodity	$	(6	)	$	(3	)	$	(2)	$	5	$	—	$	—	$	(8)	$	—	$	(14	)
CECONY
Derivatives:
Commodity	$	8		$	2		$	(1)	$	5	$	—	$	—	$	(6)	$	—	$	8

	For Nine Months Ended September 30, 2013
				Total Gains/(Losses)— Realized and Unrealized
(Millions of Dollars)	Beginning Balance as of January 1, 2013			Included in Earnings		Included in Regulatory Assets and Liabilities		Purchases		Issuances		Sales		Settlements		Transfer In/Out of Level 3		Ending Balance as of September 30, 2013
Con Edison
Derivatives:
Commodity	$	(5	)	$	5	$	1	$	12	$	—	$	—	$	(27)	$	—	$	(14	)
CECONY
Derivatives:
Commodity	$	10		$	9	$	—	$	10	$	—	$	—	$	(21)	$	—	$	8

	For the Three Months Ended September 30, 2012
			Total Gains/(Losses)— Realized and Unrealized
(Millions of Dollars)	Beginning Balance as of July 1, 2012		Included in Earnings		Included in Regulatory Assets and Liabilities		Purchases		Issuances		Sales		Settlements		Transfer In/Out of Level 3		Ending Balance as of September 30, 2012
Con Edison
Derivatives:
Commodity	$	(61)	$	(15)	$	19	$	7	$	—	$	—	$	25	$	22	$	(3	)
CECONY
Derivatives:
Commodity	$	(10)	$	(9)	$	8	$	7	$	—	$	—	$	5	$	11	$	12

	For the Nine Months Ended September 30, 2012
				Total Gains/(Losses)— Realized and Unrealized
(Millions of Dollars)	Beginning Balance as of January 1, 2012			Included in Earnings			Included in Regulatory Assets and Liabilities		Purchases		Issuances		Sales		Settlements		Transfer In/Out of Level 3			Ending Balance as of September 30, 2012
Con Edison
Derivatives:
Commodity	$	(62	)	$	(97	)	$	11	$	18	$	—	$	—	$	106	$	21		$	(3	)
Interest rate contract		(8	)		(1	)		—		—		—		—		1		8	(b)		—
Other assets(a)		99			3			3		—		—		—		—		(105	)(b)		—
Total	$	29		$	(95	)	$	14	$	18	$	—	$	—	$	107	$	(76	)	$	(3	)
CECONY
Derivatives:
Commodity	$	(7	)	$	(25	)	$	8	$	15	$	—	$	—	$	12	$	9	(b)	$	12
Other assets(a)		90			3			2		—		—		—		—		(95	)(b)		—
Total	$	83		$	(22	)	$	10	$	15	$	—	$	—	$	12	$	(86	)	$	12

(a) Amounts included in earnings are reported in investment and other income on the consolidated income statement.

(b) Other assets and interest rate contract were transferred as of March 31, 2012.

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Regulatory Matters - Other Regulatory Matters - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	1 Months Ended			9 Months Ended
	Sep. 30, 2013	Aug. 31, 2013	Jan. 31, 2013	Sep. 30, 2013	Dec. 31, 2012
Schedule Of Regulatory Assets And Liabilities [Line Items]
Revenues from electric				$ 249
Revenues from gas				32
Revenues from steam service				6
Potential refund to customers				1,318
Overcharges of construction expenditures				208
Refund amount	16			16
Regulatory asset	9,236			9,236	9,779
Minimum [Member]
Schedule Of Regulatory Assets And Liabilities [Line Items]
Refund amount	16			16
Maximum [Member]
Schedule Of Regulatory Assets And Liabilities [Line Items]
Overcharges of construction expenditures				208
Storm Damage [Member]
Schedule Of Regulatory Assets And Liabilities [Line Items]
Number of customers interrupted electric distribution service				1,400,000
Rockland Electric Company [Member] | Storm Costs [Member]
Schedule Of Regulatory Assets And Liabilities [Line Items]
Regulatory asset	28			28
Capital expenditures				6
CECONY [Member]
Schedule Of Regulatory Assets And Liabilities [Line Items]
Electric rate increases	418		375
Gas rate increases	27		25
Steam rate decreases		10	5
Return on common equity	10.10%	8.70%	10.35%
Common equity ratio	50.00%	48.00%	50.00%
Electric rate decreases		146
Gas rate decreases		95
Steam rate increases	8
Response and restoration costs				471
Capital expenditures				143
Regulatory asset	8,539			8,539	9,032
O&R [Member]
Schedule Of Regulatory Assets And Liabilities [Line Items]
Response and restoration costs				92
Capital expenditures				$ 15

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Environmental Matters - Accrued Liabilities and Regulatory Assets (Detail) (USD $) In Millions, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Accrued Liabilities:
Regulatory assets	$ 9,236	$ 9,779
Manufactured gas plant sites [Member]
Accrued Liabilities:
Accrued Liabilities	439	462
Other Superfund Sites [Member]
Accrued Liabilities:
Accrued Liabilities	73	83
Superfund Sites [Member]
Accrued Liabilities:
Accrued Liabilities	512	545
Regulatory assets	704	730
CECONY [Member]
Accrued Liabilities:
Regulatory assets	8,539	9,032
CECONY [Member] | Manufactured gas plant sites [Member]
Accrued Liabilities:
Accrued Liabilities	332	351
CECONY [Member] | Other Superfund Sites [Member]
Accrued Liabilities:
Accrued Liabilities	71	82
CECONY [Member] | Superfund Sites [Member]
Accrued Liabilities:
Accrued Liabilities	403	433
Regulatory assets	$ 591	$ 615

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Other Material Contingencies (Tables)

9 Months Ended

Sep. 30, 2013

Commitments And Contingencies Disclosure [Abstract]

Schedule of Leveraged Lease Transactions Effect on Consolidated Income Statement

The effect on Con Edison’s consolidated income statement is as follows:

(Millions of Dollars)	For the Three Months Ended September 30, 2013			For the Nine Months Ended September 30, 2013
Increase/(decrease) to non-utility operating revenues	$	44		$	(27	)
(Increase)/decrease to other interest expense		—			(131	)
Income tax benefit/(expense)		(18	)		63
Total increase/(decrease) in net income	$	26		$	(95	)

Total Guarantees

A summary, by type and term, of Con Edison’s total guarantees at September 30, 2013 is as follows:

Guarantee Type	0 – 3 years		4 – 10 years		> 10 years		Total
	(Millions of Dollars)
Energy transactions	$	705	$	52	$	25	$	782
Solar energy projects		443		—		4		447
Intra-company guarantees		16		—		—		16
Other guarantees		27		—		—		27
Total	$	1,191	$	52	$	29	$	1,272

XML

Derivative Instruments and Hedging Activities - Number of Derivative Contracts by Commodity Type (Detail)	9 Months Ended
	Sep. 30, 2013 Contract
Derivatives, Fair Value [Line Items]
Number of Capacity Contracts	1,187
CECONY [Member]
Derivatives, Fair Value [Line Items]
Number of Capacity Contracts	628
Electric Derivatives [Member]
Derivatives, Fair Value [Line Items]
Number of Energy Contracts	470
MWHs	13,643,994
Number of Capacity Contracts	83
MWs	11,625
Electric Derivatives [Member] | CECONY [Member]
Derivatives, Fair Value [Line Items]
Number of Energy Contracts	82
MWHs	3,127,600
Number of Capacity Contracts	4
MWs	1,200
Gas Derivatives [Member]
Derivatives, Fair Value [Line Items]
Number of Energy Contracts	634
Dths	79,090,035
Number of Capacity Contracts	1,187
Gas Derivatives [Member] | CECONY [Member]
Derivatives, Fair Value [Line Items]
Number of Energy Contracts	542
Dths	75,470,000
Number of Capacity Contracts	628

XML

Variable Interest Entities - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	1 Months Ended		9 Months Ended	1 Months Ended	9 Months Ended
	Jul. 31, 2013 CMS 2 [Member]	Sep. 30, 2013 CMS 2 [Member]	Sep. 30, 2013 CMS 2 [Member] NEVADA MW	Sep. 30, 2013 MS 1 [Member]	Sep. 30, 2013 MS 1 [Member] Arizona [Member] MW
Variable Interest Entity [Line Items]
Percentage of variable interests	50.00%			50.00%
Solar energy project			150		150
Solar energy in service			92
Investments including earnings		$ 76		$ 104

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Derivative Instruments and Hedging Activities - Changes in Fair Values of Commodity Derivatives (Parenthetical) (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Purchased power expense [Member]
Derivatives, Fair Value [Line Items]
Unrealized gain/(loss) on derivatives	$ 6	$ 30	$ 22	$ 75
Non-utility revenue [Member]
Derivatives, Fair Value [Line Items]
Unrealized gain/(loss) on derivatives				$ (13)

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Capitalization - Carrying Amounts and Fair Values of Long-Term Debt (Detail) (USD $) In Millions, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Carrying Amount	$ 10,976	$ 10,768
Fair Value	12,213	12,935
CECONY [Member]
Carrying Amount	9,841	9,845
Fair Value	$ 10,925	$ 11,751

XML

Fair Value Measurements - Schedule of Commodity Derivatives (Detail) (USD $)	9 Months Ended
	Sep. 30, 2013
Electricity [Member]
Financial Instruments [Line Items]
Valuation Techniques	Discounted Cash Flow
Standard Offer Capacity Agreements [Member]
Financial Instruments [Line Items]
Valuation Techniques	Discounted Cash Flow
Transmission Congestion Contracts / Financial Transmission Rights [Member]
Financial Instruments [Line Items]
Valuation Techniques	Discounted Cash Flow
Minimum [Member] | Present Value Factor [Member]
Financial Instruments [Line Items]
Unobservable Inputs Range in percentage	2.64%
Minimum [Member] | Discount to Adjust Auction Prices for Inter-Zonal Forward Price Curves [Member]
Financial Instruments [Line Items]
Unobservable Inputs Range in percentage	(5.80%)
Minimum [Member] | Discount to Adjust Auction Prices for Historical Monthly Realized Settlements [Member]
Financial Instruments [Line Items]
Unobservable Inputs Range in percentage	(102.40%)
Minimum [Member] | Inter-Zonal Forward Price Curves and for Historical Zonal Losses [Member]
Financial Instruments [Line Items]
Unobservable Inputs Range in percentage	1.56%
Unobservable Inputs Range	$ 1.56
Minimum [Member] | Forward energy prices [Member]
Financial Instruments [Line Items]
Unobservable Inputs Range	24
Minimum [Member] | Forward capacity prices [Member] | Standard Offer Capacity Agreements [Member]
Financial Instruments [Line Items]
Unobservable Inputs Range	119
Maximum [Member] | Discount to Adjust Auction Prices for Inter-Zonal Forward Price Curves [Member]
Financial Instruments [Line Items]
Unobservable Inputs Range in percentage	42.40%
Maximum [Member] | Discount to Adjust Auction Prices for Historical Monthly Realized Settlements [Member]
Financial Instruments [Line Items]
Unobservable Inputs Range in percentage	49.20%
Maximum [Member] | Inter-Zonal Forward Price Curves and for Historical Zonal Losses [Member]
Financial Instruments [Line Items]
Unobservable Inputs Range in percentage	2.16%
Unobservable Inputs Range	2.16
Maximum [Member] | Forward energy prices [Member]
Financial Instruments [Line Items]
Unobservable Inputs Range	99
Maximum [Member] | Forward capacity prices [Member] | Standard Offer Capacity Agreements [Member]
Financial Instruments [Line Items]
Unobservable Inputs Range	248
Level 3 [Member]
Financial Instruments [Line Items]
Fair Value of commodity derivatives	(14,000,000)
Level 3 [Member] | Electricity [Member]
Financial Instruments [Line Items]
Fair Value of commodity derivatives	(6,000,000)
Level 3 [Member] | Standard Offer Capacity Agreements [Member]
Financial Instruments [Line Items]
Fair Value of commodity derivatives	(17,000,000)
Level 3 [Member] | Transmission Congestion Contracts / Financial Transmission Rights [Member]
Financial Instruments [Line Items]
Fair Value of commodity derivatives	9,000,000
CECONY [Member] | Transmission Congestion Contracts [Member]
Financial Instruments [Line Items]
Valuation Techniques	Discounted Cash Flow
CECONY [Member] | Minimum [Member] | Discount to Adjust Auction Prices for Inter-Zonal Forward Price Curves [Member]
Financial Instruments [Line Items]
Unobservable Inputs Range in percentage	(5.80%)
CECONY [Member] | Minimum [Member] | Discount to Adjust Auction Prices for Historical Monthly Realized Settlements [Member]
Financial Instruments [Line Items]
Unobservable Inputs Range in percentage	(102.40%)
CECONY [Member] | Maximum [Member] | Discount to Adjust Auction Prices for Inter-Zonal Forward Price Curves [Member]
Financial Instruments [Line Items]
Unobservable Inputs Range in percentage	42.40%
CECONY [Member] | Maximum [Member] | Discount to Adjust Auction Prices for Historical Monthly Realized Settlements [Member]
Financial Instruments [Line Items]
Unobservable Inputs Range in percentage	49.20%
CECONY [Member] | Level 3 [Member] | Transmission Congestion Contracts [Member]
Financial Instruments [Line Items]
Fair Value of commodity derivatives	$ 8,000,000

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Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2013

Accounting Policies [Abstract]

Earnings Per Common Share

For the three and nine months ended September 30, 2013 and 2012, basic and diluted earnings per share (EPS) for Con Edison are calculated as follows:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
(Millions of Dollars, except per share amounts/Shares in Millions)	2013		2012		2013		2012
Net income for common stock	$	464	$	440	$	828	$	931
Weighted average common shares outstanding – basic		292.9		292.9		292.9		292.9
Add: Incremental shares attributable to effect of potentially dilutive securities		1.4		1.7		1.4		1.7
Adjusted weighted average common shares outstanding – diluted		294.3		294.6		294.3		294.6
Net income for common stock per common share – basic	$	1.58	$	1.50	$	2.83	$	3.18
Net income for common stock per common share – diluted	$	1.58	$	1.49	$	2.81	$	3.16

Changes in Accumulated Other Comprehensive Income by Component

For the three and nine months ended September 30, 2013, changes to accumulated other comprehensive income (OCI) for Con Edison and CECONY are as follows:

(Millions of Dollars)	Con Edison			CECONY
Accumulated OCI, net of taxes, at December 31, 2012	$	(53	)	$	(9	)
OCI before reclassifications, net of tax of $1 and $- for Con Edison and CECONY, respectively		1			—
Amounts reclassified from accumulated OCI related to pension plan liabilities, net of tax of $1 and $- for Con Edison and CECONY, respectively (a)(b)		2			—
Total OCI, net of taxes, at March 31, 2013	$	3		$	—
Accumulated OCI, net of taxes, at March 31, 2013 (b)	$	(50	)	$	(9	)
OCI before reclassifications		—			—
Amounts reclassified from accumulated OCI related to pension plan liabilities, net of tax of $1 and $- for Con Edison and CECONY, respectively (a)(b)		2			—
Total OCI, net of taxes, at June 30, 2013	$	2		$	—
Accumulated OCI, net of taxes, at June 30, 2013 (b)	$	(48	)	$	(9	)
OCI before reclassifications		—			—
Amounts reclassified from accumulated OCI related to pension plan liabilities, net of tax of $1 and $- for Con Edison and CECONY, respectively (a)(b)		2			—
Total OCI, net of taxes, at September 30, 2013	$	2		$	—
Accumulated OCI, net of taxes, at September 30, 2013 (b)	$	(46	)	$	(9	)

(a) For the portion of unrecognized pension and other postretirement benefit costs relating to the regulated Utilities, costs are recorded into, and amortized out of, regulatory assets instead of OCI. The net actuarial losses and prior service costs recognized during the period are included in the computation of net periodic pension and other postretirement benefit cost. See Notes E and F.

(b) Tax reclassified from accumulated OCI is reported in the income tax expense line item of the income statement.

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Consolidated Balance Sheet (USD $) In Millions, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
NON-UTILITY PLANT
Non-utility property, less accumulated depreciation	$ 581	$ 555
Construction work in progress	29	83
NET PLANT	27,955	26,939
OTHER NONCURRENT ASSETS
Goodwill	429	429
Intangible assets, less accumulated amortization of $4 in 2013 and 2012	4	2
Regulatory assets	9,190	9,705
Other deferred charges and noncurrent assets	238	216
TOTAL OTHER NONCURRENT ASSETS	9,861	10,352
TOTAL ASSETS	41,964	41,209
CURRENT ASSETS
Cash and temporary cash investments	74	394
Special deposits	375	70
Accounts receivable - customers, less allowance for uncollectible accounts	1,273	1,222
Other receivables, less allowance for uncollectible accounts	257	228
Accrued unbilled revenue	425	516
Fuel oil, gas in storage, materials and supplies, at average cost	368	330
Prepayments	521	159
Regulatory assets	46	74
Deferred tax assets - current	186	296
Other current assets	179	162
TOTAL CURRENT ASSETS	3,704	3,451
INVESTMENTS	444	467
UTILITY PLANT, AT ORIGINAL COST
General	2,301	2,302
TOTAL	32,847	31,847
Less: Accumulated depreciation	6,952	6,573
Net	25,895	25,274
Construction work in progress	1,450	1,027
NET UTILITY PLANT	27,345	26,301
CURRENT LIABILITIES
Long-term debt due within one year	483	706
Notes payable	1,220	539
Accounts payable	925	1,215
Customer deposits	316	304
Accrued taxes	379	162
Accrued interest	324	153
Accrued wages	93	94
Fair value of derivative liabilities	25	47
Uncertain income tax liabilities		44
Regulatory liabilities	117	183
Other current liabilities	491	498
TOTAL CURRENT LIABILITIES	4,373	3,945
NONCURRENT LIABILITIES
Obligations under capital leases	2	2
Provision for injuries and damages	195	149
Pensions and retiree benefits	3,816	4,678
Superfund and other environmental costs	512	545
Asset retirement obligations	164	159
Fair value of derivative liabilities	29	31
Uncertain income tax liabilities	8
Other noncurrent liabilities	120	125
TOTAL NONCURRENT LIABILITIES	4,846	5,689
DEFERRED CREDITS AND REGULATORY LIABILITIES
Deferred income taxes and investment tax credits	8,481	8,372
Regulatory liabilities	1,557	1,202
Other deferred credits	48	70
TOTAL DEFERRED CREDITS AND REGULATORY LIABILITIES	10,086	9,644
LONG-TERM DEBT	10,493	10,062
COMMON SHAREHOLDER'S EQUITY (See Statement of Common Shareholder's Equity)	12,166	11,869
TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY	41,964	41,209
CECONY [Member]
NON-UTILITY PLANT
Non-utility property, less accumulated depreciation	5	6
NET PLANT	25,735	24,745
OTHER NONCURRENT ASSETS
Regulatory assets	8,497	8,972
Other deferred charges and noncurrent assets	171	174
TOTAL OTHER NONCURRENT ASSETS	8,668	9,146
TOTAL ASSETS	37,375	36,885
CURRENT ASSETS
Cash and temporary cash investments	38	353
Special deposits	86	65
Accounts receivable - customers, less allowance for uncollectible accounts	1,147	1,108
Other receivables, less allowance for uncollectible accounts	142	106
Accrued unbilled revenue	329	406
Accounts receivable from affiliated companies	35	61
Fuel oil, gas in storage, materials and supplies, at average cost	311	285
Prepayments	428	81
Regulatory assets	42	60
Deferred tax assets - current	123	193
Other current assets	60	69
TOTAL CURRENT ASSETS	2,741	2,787
INVESTMENTS	231	207
UTILITY PLANT, AT ORIGINAL COST
General	2,123	2,126
TOTAL	30,714	29,801
Less: Accumulated depreciation	6,357	6,009
Net	24,357	23,792
Construction work in progress	1,373	947
NET UTILITY PLANT	25,730	24,739
CURRENT LIABILITIES
Long-term debt due within one year	475	700
Notes payable	1,042	421
Accounts payable	737	989
Accounts payable to affiliated companies	16	22
Customer deposits	304	292
Accrued taxes	20	37
Accrued taxes to affiliated companies	140	215
Accrued interest	176	133
Accrued wages	89	84
Fair value of derivative liabilities	19	28
Uncertain income tax liabilities		36
Regulatory liabilities	86	145
Other current liabilities	419	410
TOTAL CURRENT LIABILITIES	3,523	3,512
NONCURRENT LIABILITIES
Obligations under capital leases	2	2
Provision for injuries and damages	188	141
Pensions and retiree benefits	3,414	4,220
Superfund and other environmental costs	403	433
Asset retirement obligations	163	158
Fair value of derivative liabilities	7	11
Other noncurrent liabilities	109	115
TOTAL NONCURRENT LIABILITIES	4,286	5,080
DEFERRED CREDITS AND REGULATORY LIABILITIES
Deferred income taxes and investment tax credits	7,888	7,452
Regulatory liabilities	1,431	1,077
Other deferred credits	43	67
TOTAL DEFERRED CREDITS AND REGULATORY LIABILITIES	9,362	8,596
LONG-TERM DEBT	9,366	9,145
COMMON SHAREHOLDER'S EQUITY (See Statement of Common Shareholder's Equity)	10,838	10,552
TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY	37,375	36,885
Electric [Member]
UTILITY PLANT, AT ORIGINAL COST
Utility plant, at original cost	23,041	22,376
Electric [Member] | CECONY [Member]
UTILITY PLANT, AT ORIGINAL COST
Utility plant, at original cost	21,680	21,079
Gas [Member]
UTILITY PLANT, AT ORIGINAL COST
Utility plant, at original cost	5,388	5,120
Gas [Member] | CECONY [Member]
UTILITY PLANT, AT ORIGINAL COST
Utility plant, at original cost	4,794	4,547
Steam [Member]
UTILITY PLANT, AT ORIGINAL COST
Utility plant, at original cost	2,117	2,049
Steam [Member] | CECONY [Member]
UTILITY PLANT, AT ORIGINAL COST
Utility plant, at original cost	$ 2,117	$ 2,049

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Consolidated Statement of Common Shareholders' Equity (USD $) In Millions, except Share data	Total	CECONY [Member]	Common Stock [Member]	Common Stock [Member] CECONY [Member]	Additional Paid-In Capital [Member]	Additional Paid-In Capital [Member] CECONY [Member]	Retained Earnings [Member]	Retained Earnings [Member] CECONY [Member]	Treasury Stock [Member]	Capital Stock Expense [Member]	Capital Stock Expense [Member] CECONY [Member]	Accumulated Other Comprehensive Income/(Loss) [Member]	Accumulated Other Comprehensive Income/(Loss) [Member] CECONY [Member]	Repurchased Con Edison Stock [Member] CECONY [Member]
BALANCE at Dec. 31, 2011	$ 11,436	$ 10,218	$ 32	$ 589	$ 4,991	$ 4,234	$ 7,568	$ 6,429	$ (1,033)	$ (64)	$ (64)	$ (58)	$ (8)	$ (962)
BALANCE (In Shares) at Dec. 31, 2011			292,888,521	235,488,094					23,194,075
Net income for common stock	277						277
NET INCOME		276						276
Common stock dividends	(177)	(171)					(177)	(171)
Issuance of common shares for stock plans, net of repurchases	(2)								(2)
Cumulative preferred dividends		(3)						(3)
Issuance of common shares for stock plans, net of repurchases (In Shares)			(7,225)						7,225
Preferred stock redemption	4	4								4	4
Other comprehensive income (loss)	7											7
BALANCE at Mar. 31, 2012	11,545	10,324	32	589	4,991	4,234	7,668	6,531	(1,035)	(60)	(60)	(51)	(8)	(962)
BALANCE (In Shares) at Mar. 31, 2012			292,881,296	235,488,094					23,201,300
BALANCE at Dec. 31, 2011	11,436	10,218		589	4,991	4,234								(962)
BALANCE (In Shares) at Dec. 31, 2011				235,488,094
Net income for common stock	931	824
NET INCOME	934	827
Cumulative preferred dividends	(3)	(3)
BALANCE at Sep. 30, 2012	11,842	10,532		589	4,991	4,234				(61)	(60)		(10)	(962)
BALANCE (In Shares) at Sep. 30, 2012				235,488,094
BALANCE at Mar. 31, 2012	11,545	10,324	32	589	4,991	4,234	7,668	6,531	(1,035)	(60)		(51)	(8)	(962)
BALANCE (In Shares) at Mar. 31, 2012			292,881,296	235,488,094					23,201,300
Net income for common stock	214						214
NET INCOME		163						163
Common stock dividends	(178)	(171)					(178)	(171)
Issuance of common shares for stock plans, net of repurchases	(1)									(1)
Issuance of common shares for stock plans, net of repurchases (In Shares)			1,700						(1,700)
Other comprehensive income (loss)	(1)	(2)										(1)	(2)
BALANCE at Jun. 30, 2012	11,579	10,314	32	589	4,991	4,234	7,704	6,523	(1,035)	(61)	(60)	(52)	(10)	(962)
BALANCE (In Shares) at Jun. 30, 2012			292,882,996	235,488,094					23,199,600
Net income for common stock	440	389					440
NET INCOME	440	389						389
Common stock dividends	(177)	(171)					(177)	(171)
Issuance of common shares for stock plans, net of repurchases	(2)								(2)
Issuance of common shares for stock plans, net of repurchases (In Shares)			(11,100)						11,100
Other comprehensive income (loss)	2											2
BALANCE at Sep. 30, 2012	11,842	10,532	32	589	4,991	4,234	7,967	6,741	(1,037)	(61)	(60)	(50)	(10)	(962)
BALANCE (In Shares) at Sep. 30, 2012			292,871,896	235,488,094					23,210,700
BALANCE at Dec. 31, 2012	11,869	10,552	32	589	4,991	4,234	7,997	6,761	(1,037)	(61)	(61)	(53)	(9)	(962)
BALANCE (In Shares) at Dec. 31, 2012			292,871,896	235,488,094					23,210,700
Net income for common stock	192						192
NET INCOME		277						277
Common stock dividends	(180)	(182)					(180)	(182)
Issuance of common shares for stock plans, net of repurchases	5				(2)				7
Issuance of common shares for stock plans, net of repurchases (In Shares)			95,468						(95,468)
Other comprehensive income (loss)	3											3
BALANCE at Mar. 31, 2013	11,889	10,647	32	589	4,989	4,234	8,009	6,856	(1,030)	(61)	(61)	(50)	(9)	(962)
BALANCE (In Shares) at Mar. 31, 2013			292,967,364	235,488,094					23,115,232
BALANCE at Dec. 31, 2012	11,869	10,552		589		4,234				(61)	(61)		(9)	(962)
BALANCE (In Shares) at Dec. 31, 2012				235,488,094
Net income for common stock	828	831
NET INCOME	828	831
BALANCE at Sep. 30, 2013	12,166	10,838		589	4,990	4,234				(61)	(61)		(9)	(962)
BALANCE (In Shares) at Sep. 30, 2013				235,488,094
BALANCE at Mar. 31, 2013	11,889	10,647	32	589	4,989	4,234	8,009	6,856	(1,030)	(61)	(61)	(50)	(9)	(962)
BALANCE (In Shares) at Mar. 31, 2013			292,967,364	235,488,094					23,115,232
Net income for common stock	172						172
NET INCOME		153						153
Common stock dividends	(180)	(182)					(180)	(182)
Issuance of common shares for stock plans, net of repurchases					1				(1)
Issuance of common shares for stock plans, net of repurchases (In Shares)			(4,078)						4,078
Other comprehensive income (loss)	2											2
BALANCE at Jun. 30, 2013	11,883	10,618	32	589	4,990	4,234	8,001	6,827	(1,031)	(61)	(61)	(48)	(9)	(962)
BALANCE (In Shares) at Jun. 30, 2013			292,963,286	235,488,094					23,119,310
Net income for common stock	464	401					464
NET INCOME	464	401						401
Common stock dividends	(180)	(181)					(180)	(181)
Issuance of common shares for stock plans, net of repurchases	(3)								(3)
Issuance of common shares for stock plans, net of repurchases (In Shares)			(34,931)						34,931
Other comprehensive income (loss)	2											2
BALANCE at Sep. 30, 2013	$ 12,166	$ 10,838	$ 32	$ 589	$ 4,990	$ 4,234	$ 8,285	$ 7,047	$ (1,034)	$ (61)	$ (61)	$ (46)	$ (9)	$ (962)
BALANCE (In Shares) at Sep. 30, 2013			292,928,355	235,488,094					23,154,241

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Regulatory Matters

9 Months Ended

Sep. 30, 2013

Regulatory Matters

Note B — Regulatory Matters

Rate Agreements

CECONY – Electric, Gas and Steam

In January 2013, CECONY filed requests for electric, gas and steam rate changes, effective January 1, 2014. The company requested electric and gas rate increases of $375 million and $25 million, respectively, and a steam rate decrease of $5 million, reflecting, among other things, a return on common equity of 10.35 percent and a common equity ratio of approximately 50 percent. In August 2013, the New York State Public Service Commission (NYSPSC) staff submitted its initial briefs which support decreases in the company’s electric, gas and steam rates of $146 million, $95 million and $10 million, respectively, reflecting, among other things, a return on common equity of 8.7 percent and a common equity ratio of 48 percent. In September 2013, the company submitted its reply briefs supporting increases in its electric, gas and steam rates of $418 million, $27 million and $8 million, respectively, reflecting, among other things, a return on common equity of 10.1 percent and a common equity ratio of approximately 50 percent. In October 2013, the NYSPSC’s Chief Administrative Law Judge appointed a settlement judge to assist in settlement discussions among the parties in these rate proceedings. There is no assurance that there will be a settlement, and any settlement would be subject to NYSPSC approval. Also, in October 2013, the company agreed to extend by one month the date by which the NYSPSC is required to issue a decision on the company’s rate requests, subject to a “make whole” provision that would keep the company and its customers in the same position they would have been absent the extension.

Other Regulatory Matters

In February 2009, the NYSPSC commenced a proceeding to examine the prudence of certain CECONY expenditures following the arrests of employees for accepting illegal payments from a construction contractor. Subsequently, additional employees were arrested for accepting illegal payments from materials suppliers and an engineering firm. The arrested employees were terminated by the company and have pled guilty or been convicted. Pursuant to NYSPSC orders, a portion of the company’s revenues (currently, $249 million, $32 million and $6 million on an annual basis for electric, gas and steam service, respectively) is being collected subject to potential refund to customers. The amount of electric revenues collected subject to refund, which was established in a different proceeding, and the amount of gas and steam revenues collected subject to refund were not established as indicative of the company’s potential liability in this proceeding. At September 30, 2013, the company had collected an estimated $1,318 million from customers subject to potential refund in connection with this proceeding. In January 2013, a NYSPSC consultant reported its estimate, with which the company does not agree, of $208 million of overcharges with respect to a substantial portion of the company’s construction expenditures from January 2000 to January 2009. The company is disputing the consultant’s estimate, including its determinations as to overcharges regarding specific construction expenditures it selected to review and its methodology of extrapolating such determinations over a substantial portion of the construction expenditures during this period. The NYSPSC’s consultant has not reviewed the company’s other expenditures. The company and NYSPSC staff are exploring a settlement in this proceeding. There is no assurance that there will be a settlement, and any settlement would be subject to NYSPSC approval. At September 30, 2013, the company had a $16 million regulatory liability for refund to customers of amounts recovered from vendors, arrested employees and insurers relating to this matter. The company is unable to estimate the amount, if any, by which any refund required by the NYSPSC may exceed this regulatory liability. The company currently estimates that any refund required by the NYSPSC could range in amount from the $16 million regulatory liability up to an amount based on the NYSPSC consultant’s $208 million estimate of overcharges.

In late October 2012, Superstorm Sandy caused extensive damage to the Utilities’ electric distribution system and interrupted service to approximately 1.4 million customers. Superstorm Sandy also damaged CECONY’s steam system and interrupted service to many of its steam customers. As of September 30, 2013, CECONY and O&R incurred response and restoration costs for Superstorm Sandy of $471 million and $92 million, respectively (including capital expenditures of $143 million and $15 million, respectively). Most of the costs that were not capitalized were deferred for recovery as a regulatory asset under the Utilities’ electric rate plans. See “Regulatory Assets and Liabilities,” below. The Utilities’ New York electric rate plans include provisions for revenue decoupling, as a result of which delivery revenues generally are not affected by changes in delivery volumes from levels assumed when rates were approved. The provisions of the Utilities’ New York electric plans that impose penalties for operating performance provide for exceptions for major storms and catastrophic events beyond the control of the companies, including natural disasters such as hurricanes and floods. The NYSPSC is investigating, and the New York State Attorney General investigated, the preparation and performance of the Utilities in connection with Superstorm Sandy and other major storms.

In June 2013, a commission appointed by the Governor of New York issued its final report on utility storm preparation and response. The commission identified deficiencies in the performance of the Utilities and other New York utilities and made recommendations regarding, among other things, preparation and response to flooding; estimation of customer restoration times; reliability of website outage maps; coordination with local governments and providers of other utility services; availability and allocation of staffing and other resources (including the utility industry’s mutual aid process); and communications with affected communities and local officials. The commission’s report also addressed the Long Island Power Authority, energy efficiency programs, utility infrastructure investment and regulatory deficiencies.

In March 2013, the New Jersey Board of Public Utilities established a proceeding to review the prudency of costs incurred by New Jersey utilities, including Rockland Electric Company (RECO, an O&R subsidiary), in response to major storm events in 2011 and 2012. At September 30, 2013, RECO had $28 million of storm costs deferred for recovery as a regulatory asset and had incurred $6 million of capital expenditures related to the storms.

Regulatory Assets and Liabilities

Regulatory assets and liabilities at September 30, 2013 and December 31, 2012 were comprised of the following items:

	Con Edison				CECONY
(Millions of Dollars)	2013		2012		2013		2012
Regulatory assets
Unrecognized pension and other postretirement costs		$5,011		$5,677		$4,779		$5,407
Future income tax		2,035		1,922		1,929		1,831
Environmental remediation costs		704		730		591		615
Deferred storm costs		451		432		340		309
Pension and other postretirement benefits deferrals		229		183		201		154
Revenue taxes		191		176		182		170
Surcharge for New York State assessment		119		73		113		68
Net electric deferrals		88		102		88		102
Unamortized loss on reacquired debt		67		74		64		70
Deferred derivative losses – long-term		34		40		13		20
O&R transition bond charges		34		39		—		—
Preferred stock redemption		28		29		28		29
Property tax reconciliation		20		16		—		—
Workers’ compensation		16		19		16		19
Other		163		193		153		178
Regulatory assets – long-term		9,190		9,705		8,497		8,972
Deferred derivative losses – current		45		69		42		60
Recoverable energy costs – current		1		5		—		—
Regulatory assets – current		46		74		42		60
Total Regulatory Assets		$9,236		$9,779		$8,539		$9,032
Regulatory liabilities
Allowance for cost of removal less salvage		$   522		$   503		$   436		$   420
Property tax reconciliation		290		187		290		187
Property tax refunds		130		7		129		6
Net unbilled revenue deferrals		104		136		104		136
Long-term interest rate reconciliation		94		62		94		62
World Trade Center settlement proceeds		62		62		62		62
Carrying charges on T&D net plant – electric and steam		30		31		20		13
Expenditure prudence proceeding		16		14		16		14
Other		309		200		280		177
Regulatory liabilities – long-term		1,557		1,202		1,431		1,077
Refundable energy costs – current		64		82		36		48
Revenue decoupling mechanism		51		72		49		68
Deferred derivative gains – current		2		—		1		—
Electric surcharge offset		—		29		—		29
Regulatory liabilities – current		117		183		86		145
Total Regulatory Liabilities		$1,674		$1,385		$1,517		$1,222

“Deferred storm costs” represent response and restoration costs, other than capital expenditures, in connection with Superstorm Sandy and other major storms that were deferred by the Utilities. See “Other Regulatory Matters,” above.

CECONY [Member]

Regulatory Matters

Note B — Regulatory Matters

Rate Agreements

CECONY – Electric, Gas and Steam

In January 2013, CECONY filed requests for electric, gas and steam rate changes, effective January 1, 2014. The company requested electric and gas rate increases of $375 million and $25 million, respectively, and a steam rate decrease of $5 million, reflecting, among other things, a return on common equity of 10.35 percent and a common equity ratio of approximately 50 percent. In August 2013, the New York State Public Service Commission (NYSPSC) staff submitted its initial briefs which support decreases in the company’s electric, gas and steam rates of $146 million, $95 million and $10 million, respectively, reflecting, among other things, a return on common equity of 8.7 percent and a common equity ratio of 48 percent. In September 2013, the company submitted its reply briefs supporting increases in its electric, gas and steam rates of $418 million, $27 million and $8 million, respectively, reflecting, among other things, a return on common equity of 10.1 percent and a common equity ratio of approximately 50 percent. In October 2013, the NYSPSC’s Chief Administrative Law Judge appointed a settlement judge to assist in settlement discussions among the parties in these rate proceedings. There is no assurance that there will be a settlement, and any settlement would be subject to NYSPSC approval. Also, in October 2013, the company agreed to extend by one month the date by which the NYSPSC is required to issue a decision on the company’s rate requests, subject to a “make whole” provision that would keep the company and its customers in the same position they would have been absent the extension.

Other Regulatory Matters

In February 2009, the NYSPSC commenced a proceeding to examine the prudence of certain CECONY expenditures following the arrests of employees for accepting illegal payments from a construction contractor. Subsequently, additional employees were arrested for accepting illegal payments from materials suppliers and an engineering firm. The arrested employees were terminated by the company and have pled guilty or been convicted. Pursuant to NYSPSC orders, a portion of the company’s revenues (currently, $249 million, $32 million and $6 million on an annual basis for electric, gas and steam service, respectively) is being collected subject to potential refund to customers. The amount of electric revenues collected subject to refund, which was established in a different proceeding, and the amount of gas and steam revenues collected subject to refund were not established as indicative of the company’s potential liability in this proceeding. At September 30, 2013, the company had collected an estimated $1,318 million from customers subject to potential refund in connection with this proceeding. In January 2013, a NYSPSC consultant reported its estimate, with which the company does not agree, of $208 million of overcharges with respect to a substantial portion of the company’s construction expenditures from January 2000 to January 2009. The company is disputing the consultant’s estimate, including its determinations as to overcharges regarding specific construction expenditures it selected to review and its methodology of extrapolating such determinations over a substantial portion of the construction expenditures during this period. The NYSPSC’s consultant has not reviewed the company’s other expenditures. The company and NYSPSC staff are exploring a settlement in this proceeding. There is no assurance that there will be a settlement, and any settlement would be subject to NYSPSC approval. At September 30, 2013, the company had a $16 million regulatory liability for refund to customers of amounts recovered from vendors, arrested employees and insurers relating to this matter. The company is unable to estimate the amount, if any, by which any refund required by the NYSPSC may exceed this regulatory liability. The company currently estimates that any refund required by the NYSPSC could range in amount from the $16 million regulatory liability up to an amount based on the NYSPSC consultant’s $208 million estimate of overcharges.

In late October 2012, Superstorm Sandy caused extensive damage to the Utilities’ electric distribution system and interrupted service to approximately 1.4 million customers. Superstorm Sandy also damaged CECONY’s steam system and interrupted service to many of its steam customers. As of September 30, 2013, CECONY and O&R incurred response and restoration costs for Superstorm Sandy of $471 million and $92 million, respectively (including capital expenditures of $143 million and $15 million, respectively). Most of the costs that were not capitalized were deferred for recovery as a regulatory asset under the Utilities’ electric rate plans. See “Regulatory Assets and Liabilities,” below. The Utilities’ New York electric rate plans include provisions for revenue decoupling, as a result of which delivery revenues generally are not affected by changes in delivery volumes from levels assumed when rates were approved. The provisions of the Utilities’ New York electric plans that impose penalties for operating performance provide for exceptions for major storms and catastrophic events beyond the control of the companies, including natural disasters such as hurricanes and floods. The NYSPSC is investigating, and the New York State Attorney General investigated, the preparation and performance of the Utilities in connection with Superstorm Sandy and other major storms.

In June 2013, a commission appointed by the Governor of New York issued its final report on utility storm preparation and response. The commission identified deficiencies in the performance of the Utilities and other New York utilities and made recommendations regarding, among other things, preparation and response to flooding; estimation of customer restoration times; reliability of website outage maps; coordination with local governments and providers of other utility services; availability and allocation of staffing and other resources (including the utility industry’s mutual aid process); and communications with affected communities and local officials. The commission’s report also addressed the Long Island Power Authority, energy efficiency programs, utility infrastructure investment and regulatory deficiencies.

In March 2013, the New Jersey Board of Public Utilities established a proceeding to review the prudency of costs incurred by New Jersey utilities, including Rockland Electric Company (RECO, an O&R subsidiary), in response to major storm events in 2011 and 2012. At September 30, 2013, RECO had $28 million of storm costs deferred for recovery as a regulatory asset and had incurred $6 million of capital expenditures related to the storms.

Regulatory Assets and Liabilities

Regulatory assets and liabilities at September 30, 2013 and December 31, 2012 were comprised of the following items:

	Con Edison				CECONY
(Millions of Dollars)	2013		2012		2013		2012
Regulatory assets
Unrecognized pension and other postretirement costs		$5,011		$5,677		$4,779		$5,407
Future income tax		2,035		1,922		1,929		1,831
Environmental remediation costs		704		730		591		615
Deferred storm costs		451		432		340		309
Pension and other postretirement benefits deferrals		229		183		201		154
Revenue taxes		191		176		182		170
Surcharge for New York State assessment		119		73		113		68
Net electric deferrals		88		102		88		102
Unamortized loss on reacquired debt		67		74		64		70
Deferred derivative losses – long-term		34		40		13		20
O&R transition bond charges		34		39		—		—
Preferred stock redemption		28		29		28		29
Property tax reconciliation		20		16		—		—
Workers’ compensation		16		19		16		19
Other		163		193		153		178
Regulatory assets – long-term		9,190		9,705		8,497		8,972
Deferred derivative losses – current		45		69		42		60
Recoverable energy costs – current		1		5		—		—
Regulatory assets – current		46		74		42		60
Total Regulatory Assets		$9,236		$9,779		$8,539		$9,032
Regulatory liabilities
Allowance for cost of removal less salvage		$   522		$   503		$   436		$   420
Property tax reconciliation		290		187		290		187
Property tax refunds		130		7		129		6
Net unbilled revenue deferrals		104		136		104		136
Long-term interest rate reconciliation		94		62		94		62
World Trade Center settlement proceeds		62		62		62		62
Carrying charges on T&D net plant – electric and steam		30		31		20		13
Expenditure prudence proceeding		16		14		16		14
Other		309		200		280		177
Regulatory liabilities – long-term		1,557		1,202		1,431		1,077
Refundable energy costs – current		64		82		36		48
Revenue decoupling mechanism		51		72		49		68
Deferred derivative gains – current		2		—		1		—
Electric surcharge offset		—		29		—		29
Regulatory liabilities – current		117		183		86		145
Total Regulatory Liabilities		$1,674		$1,385		$1,517		$1,222

“Deferred storm costs” represent response and restoration costs, other than capital expenditures, in connection with Superstorm Sandy and other major storms that were deferred by the Utilities. See “Other Regulatory Matters,” above.

XML

Asset Retirement Obligations - Accrued Liability for Asset Retirement Obligations and Regulatory Liabilities (Detail) (USD $) In Millions, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Regulatory Liabilities [Line Items]
Accrued liability - asset retirement obligations	$ 164	$ 159
Regulatory liabilities - allowance for cost of removal less salvage	1,557	1,202
Allowance for Cost Removal Less Salvage [Member]
Regulatory Liabilities [Line Items]
Regulatory liabilities - allowance for cost of removal less salvage	522	503
CECONY [Member]
Regulatory Liabilities [Line Items]
Accrued liability - asset retirement obligations	163	158
Regulatory liabilities - allowance for cost of removal less salvage	1,431	1,077
CECONY [Member] | Allowance for Cost Removal Less Salvage [Member]
Regulatory Liabilities [Line Items]
Regulatory liabilities - allowance for cost of removal less salvage	$ 436	$ 420

XML

General

9 Months Ended

Sep. 30, 2013

General

General

These combined notes accompany and form an integral part of the separate consolidated financial statements of each of the two separate registrants: Consolidated Edison, Inc. and its subsidiaries (Con Edison) and Consolidated Edison Company of New York, Inc. and its subsidiaries (CECONY). CECONY is a subsidiary of Con Edison and as such its financial condition and results of operations and cash flows, which are presented separately in the CECONY consolidated financial statements, are also consolidated, along with those of Con Edison’s other utility subsidiary, Orange and Rockland Utilities, Inc. (O&R), and Con Edison’s competitive energy businesses (discussed below) in Con Edison’s consolidated financial statements. The term “Utilities” is used in these notes to refer to CECONY and O&R.

As used in these notes, the term “Companies” refers to Con Edison and CECONY and, except as otherwise noted, the information in these combined notes relates to each of the Companies. However, CECONY makes no representation as to information relating to Con Edison or the subsidiaries of Con Edison other than itself.

The separate interim consolidated financial statements of each of the Companies are unaudited but, in the opinion of their respective managements, reflect all adjustments (which include only normally recurring adjustments) necessary for a fair presentation of the results for the interim periods presented. The Companies’ separate interim consolidated financial statements should be read together with their separate audited financial statements (including the combined notes thereto) included in Item 8 of their combined Annual Report on Form 10-K for the year ended December 31, 2012 and their separate unaudited financial statements (including the combined notes thereto) included in Part I, Item 1 of their combined Quarterly Reports on Form 10-Q for the quarterly periods ended March 31, 2013 and June 30, 2013.

Con Edison has two regulated utility subsidiaries: CECONY and O&R. CECONY provides electric service and gas service in New York City and Westchester County. The company also provides steam service in parts of Manhattan. O&R, along with its regulated utility subsidiaries, provides electric service in southeastern New York and adjacent areas of northern New Jersey and eastern Pennsylvania and gas service in southeastern New York and adjacent areas of eastern Pennsylvania. Con Edison has the following competitive energy businesses: Consolidated Edison Solutions, Inc. (Con Edison Solutions), a retail energy services company that sells electricity and also offers energy-related services; Consolidated Edison Energy, Inc. (Con Edison Energy), a wholesale energy services company; and Consolidated Edison Development, Inc. (Con Edison Development), a company that develops and participates in infrastructure projects.

CECONY [Member]

General

General

These combined notes accompany and form an integral part of the separate consolidated financial statements of each of the two separate registrants: Consolidated Edison, Inc. and its subsidiaries (Con Edison) and Consolidated Edison Company of New York, Inc. and its subsidiaries (CECONY). CECONY is a subsidiary of Con Edison and as such its financial condition and results of operations and cash flows, which are presented separately in the CECONY consolidated financial statements, are also consolidated, along with those of Con Edison’s other utility subsidiary, Orange and Rockland Utilities, Inc. (O&R), and Con Edison’s competitive energy businesses (discussed below) in Con Edison’s consolidated financial statements. The term “Utilities” is used in these notes to refer to CECONY and O&R.

As used in these notes, the term “Companies” refers to Con Edison and CECONY and, except as otherwise noted, the information in these combined notes relates to each of the Companies. However, CECONY makes no representation as to information relating to Con Edison or the subsidiaries of Con Edison other than itself.

The separate interim consolidated financial statements of each of the Companies are unaudited but, in the opinion of their respective managements, reflect all adjustments (which include only normally recurring adjustments) necessary for a fair presentation of the results for the interim periods presented. The Companies’ separate interim consolidated financial statements should be read together with their separate audited financial statements (including the combined notes thereto) included in Item 8 of their combined Annual Report on Form 10-K for the year ended December 31, 2012 and their separate unaudited financial statements (including the combined notes thereto) included in Part I, Item 1 of their combined Quarterly Reports on Form 10-Q for the quarterly periods ended March 31, 2013 and June 30, 2013.

Con Edison has two regulated utility subsidiaries: CECONY and O&R. CECONY provides electric service and gas service in New York City and Westchester County. The company also provides steam service in parts of Manhattan. O&R, along with its regulated utility subsidiaries, provides electric service in southeastern New York and adjacent areas of northern New Jersey and eastern Pennsylvania and gas service in southeastern New York and adjacent areas of eastern Pennsylvania. Con Edison has the following competitive energy businesses: Consolidated Edison Solutions, Inc. (Con Edison Solutions), a retail energy services company that sells electricity and also offers energy-related services; Consolidated Edison Energy, Inc. (Con Edison Energy), a wholesale energy services company; and Consolidated Edison Development, Inc. (Con Edison Development), a company that develops and participates in infrastructure projects.

XML

Regulatory Matters - Regulatory Assets and Liabilities (Detail) (USD $) In Millions, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Regulatory Assets [Line Items]
Regulatory assets	$ 46	$ 74
Regulatory assets - long-term	9,190	9,705
Regulatory assets - current	46	74
Total Regulatory Assets	9,236	9,779
Regulatory liabilities	117	183
Regulatory liabilities - long-term	1,557	1,202
Regulatory liabilities - current	117	183
Total Regulatory Liabilities	1,674	1,385
Unrecognized Pension and Other Postretirement Costs [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	5,011	5,677
Future Income Tax [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	2,035	1,922
Environmental Remediation Costs [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	704	730
Deferred Storm Costs [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	451	432
Pension and Other Postretirement Benefits Deferrals [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	229	183
Revenue Taxes [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	191	176
Surcharge for New York State Assessment [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	119	73
Net Electric Deferrals [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	88	102
Unamortized Loss on Reacquired Debt [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	67	74
Deferred Derivative Losses - Long-Term [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	34	40
O&R Transition Bond Charges [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	34	39
Preferred Stock Redemption [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	28	29
Property Tax Reconciliation [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	20	16
Regulatory liabilities - long-term	290	187
Workers' compensation [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	16	19
Other [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	163	193
Deferred Derivative Losses - Current [Member]
Regulatory Assets [Line Items]
Regulatory assets	45	69
Regulatory assets - current	45	69
Recoverable Energy Costs - Current [Member]
Regulatory Assets [Line Items]
Regulatory assets	1	5
Regulatory assets - current	1	5
Allowance for Cost Removal Less Salvage [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - long-term	522	503
Property Tax Refunds [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - long-term	130	7
Net Unbilled Revenue Deferrals [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - long-term	104	136
Long-Term Interest Rate Reconciliation [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - long-term	94	62
World Trade Center Settlement Proceeds [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - long-term	62	62
Carrying Charges on Transmission and Distribution Net Plant Electric and Steam [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - long-term	30	31
Expenditure Prudence Proceeding [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - long-term	16	14
Other [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - long-term	309	200
Refundable Energy Costs - Current [Member]
Regulatory Assets [Line Items]
Regulatory liabilities	64	82
Regulatory liabilities - current	64	82
Revenue Decoupling Mechanism [Member]
Regulatory Assets [Line Items]
Regulatory liabilities	51	72
Regulatory liabilities - current	51	72
Deferred Derivative Gains - Current [Member]
Regulatory Assets [Line Items]
Regulatory liabilities	2
Regulatory liabilities - current	2
Electric Surcharge Offset [Member]
Regulatory Assets [Line Items]
Regulatory liabilities		29
Regulatory liabilities - current		29
CECONY [Member]
Regulatory Assets [Line Items]
Regulatory assets	42	60
Regulatory assets - long-term	8,497	8,972
Regulatory assets - current	42	60
Total Regulatory Assets	8,539	9,032
Regulatory liabilities	86	145
Regulatory liabilities - long-term	1,431	1,077
Regulatory liabilities - current	86	145
Total Regulatory Liabilities	1,517	1,222
CECONY [Member] | Unrecognized Pension and Other Postretirement Costs [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	4,779	5,407
CECONY [Member] | Future Income Tax [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	1,929	1,831
CECONY [Member] | Environmental Remediation Costs [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	591	615
CECONY [Member] | Deferred Storm Costs [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	340	309
CECONY [Member] | Pension and Other Postretirement Benefits Deferrals [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	201	154
CECONY [Member] | Revenue Taxes [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	182	170
CECONY [Member] | Surcharge for New York State Assessment [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	113	68
CECONY [Member] | Net Electric Deferrals [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	88	102
CECONY [Member] | Unamortized Loss on Reacquired Debt [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	64	70
CECONY [Member] | Deferred Derivative Losses - Long-Term [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	13	20
CECONY [Member] | Preferred Stock Redemption [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	28	29
CECONY [Member] | Property Tax Reconciliation [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - long-term	290	187
CECONY [Member] | Workers' compensation [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	16	19
CECONY [Member] | Other [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	153	178
CECONY [Member] | Deferred Derivative Losses - Current [Member]
Regulatory Assets [Line Items]
Regulatory assets	42	60
Regulatory assets - current	42	60
CECONY [Member] | Allowance for Cost Removal Less Salvage [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - long-term	436	420
CECONY [Member] | Property Tax Refunds [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - long-term	129	6
CECONY [Member] | Net Unbilled Revenue Deferrals [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - long-term	104	136
CECONY [Member] | Long-Term Interest Rate Reconciliation [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - long-term	94	62
CECONY [Member] | World Trade Center Settlement Proceeds [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - long-term	62	62
CECONY [Member] | Carrying Charges on Transmission and Distribution Net Plant Electric and Steam [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - long-term	20	13
CECONY [Member] | Expenditure Prudence Proceeding [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - long-term	16	14
CECONY [Member] | Other [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - long-term	280	177
CECONY [Member] | Refundable Energy Costs - Current [Member]
Regulatory Assets [Line Items]
Regulatory liabilities	36	48
Regulatory liabilities - current	36	48
CECONY [Member] | Revenue Decoupling Mechanism [Member]
Regulatory Assets [Line Items]
Regulatory liabilities	49	68
Regulatory liabilities - current	49	68
CECONY [Member] | Deferred Derivative Gains - Current [Member]
Regulatory Assets [Line Items]
Regulatory liabilities	1
Regulatory liabilities - current	1
CECONY [Member] | Electric Surcharge Offset [Member]
Regulatory Assets [Line Items]
Regulatory liabilities		29
Regulatory liabilities - current		$ 29

XML

Pension Benefits (Tables) (Pension benefits [Member])

9 Months Ended

Sep. 30, 2013

Pension benefits [Member]

Companies' Net Periodic Benefit Costs

The components of the Companies’ net periodic benefit costs for the three and nine months ended September 30, 2013 and 2012 were as follows:

	For the Three Months Ended September 30,
	Con Edison						CECONY
(Millions of Dollars)	2013			2012			2013			2012
Service cost – including administrative expenses		$    67			$    59			$    62			$    55
Interest cost on projected benefit obligation		134			137			126			128
Expected return on plan assets		(187	)		(176	)		(178	)		(168	)
Recognition of net actuarial loss		208			177			197			168
Recognition of prior service costs		1			2			1			2
NET PERIODIC BENEFIT COST		$ 223			$ 199			$ 208			$ 185
Amortization of regulatory asset		1			—			1			—
TOTAL PERIODIC BENEFIT COST		$ 224			$ 199			$ 209			$ 185
Cost capitalized		(86	)		(64	)		(78	)		(60	)
Reconciliation to rate level		(31	)		—			(34	)		(1	)
Cost charged to operating expenses		$ 107			$ 135			$   97			$ 124

	For the Nine Months Ended September 30,
	Con Edison						CECONY
(Millions of Dollars)	2013			2012			2013			2012
Service cost – including administrative expenses		$ 200			$ 177			$ 186			$ 165
Interest cost on projected benefit obligation		403			410			377			385
Expected return on plan assets		(563	)		(528	)		(534	)		(503	)
Recognition of net actuarial loss		624			531			591			503
Recognition of prior service costs		4			6			3			4
NET PERIODIC BENEFIT COST		$ 668			$ 596			$ 623			$ 554
Amortization of regulatory asset		2			1			2			1
TOTAL PERIODIC BENEFIT COST		$ 670			$ 597			$ 625			$ 555
Cost capitalized		(256	)		(200	)		(241	)		(186	)
Reconciliation to rate level		(55	)		(37	)		(56	)		(36	)
Cost charged to operating expenses		$ 359			$ 360			$ 328			$ 333

XML

Financial Information by Business Segment (Tables)

9 Months Ended

Sep. 30, 2013

Segment Reporting [Abstract]

Financial Data for Business Segments

The financial data for the business segments are as follows:

	For the Three Months Ended September 30,
	Operating revenues				Inter-segment revenues						Depreciation and amortization				Operating income
(Millions of Dollars)	2013		2012		2013			2012			2013		2012		2013			2012
CECONY
Electric	$	2,622	$	2,611	$	4		$	4		$	188	$	179	$	811		$	812
Gas		199		189		1			1			33		31		(24	)		(21	)
Steam		72		68		22			20			16		15		(35	)		(37	)
Consolidation adjustments		—		—		(27	)		(25	)		—		—		—			—
Total CECONY	$	2,893	$	2,868	$	—		$	—		$	237	$	225	$	752		$	754
O&R
Electric	$	200	$	199	$	—		$	—		$	10	$	10	$	46		$	50
Gas		26		27		—			—			4		3		(7	)		(6	)
Total O&R	$	226	$	226	$	—		$	—		$	14	$	13	$	39		$	44
Competitive energy businesses	$	365	$	344	$	—		$	2		$	6	$	2	$	63		$	53
Other*		—		—		—			(2	)		1		—		1			—
Total Con Edison	$	3,484	$	3,438	$	—		$	—		$	258	$	240	$	855		$	851

* Parent company expenses, primarily interest, and consolidation adjustments. Other does not represent a business segment.

	For the Nine Months Ended September 30,
	Operating revenues						Inter-segment revenues						Depreciation and amortization				Operating income
(Millions of Dollars)	2013			2012			2013			2012			2013		2012		2013		2012
CECONY
Electric	$	6,309		$	6,307		$	12		$	11		$	559	$	527	$	1,307	$	1,383
Gas		1,190			1,017			4			4			97		89		272		255
Steam		522			414			60			58			49		48		80		40
Consolidation adjustments		—			—			(76	)		(73	)		—		—		—		—
Total CECONY	$	8,021		$	7,738		$	—		$	—		$	705	$	664	$	1,659	$	1,678
O&R
Electric	$	492		$	457		$	—		$	—		$	31	$	28	$	81	$	74
Gas		143			144			—			—			11		11		20		26
Total O&R	$	635		$	601		$	—		$	—		$	42	$	39	$	101	$	100
Competitive energy businesses	$	834		$	954		$	4		$	6		$	16	$	6	$	7	$	111
Other*		(3	)		(6	)		(4	)		(6	)		1		—		—		(3	)
Total Con Edison	$	9,487		$	9,287		$	—		$	—		$	764	$	709	$	1,767	$	1,886

* Parent company expenses, primarily interest, and consolidation adjustments. Other does not represent a business segment.

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Fair Value Measurements - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Gain (loss) on Level 3 energy derivative assets				$ 95
Competitive energy businesses [Member] | Other Income [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Gain (loss) on Level 3 energy derivative assets			(2)
Gain (loss) on Level 3 energy derivative liabilities		(2)		(11)
Fair value, assets measured on recurring basis, change in unrealized gain (loss)		(2)	(2)	(11)
Competitive energy businesses [Member] | Purchased power expense [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Gain (loss) on Level 3 energy derivative assets	(4)
Gain (loss) on Level 3 energy derivative liabilities		2		(42)
Fair value, assets measured on recurring basis, change in unrealized gain (loss)	$ (5)	$ 16	$ (3)	$ 40

XML

Summary of Significant Accounting Policies - Earnings Per Common Share (Detail) (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended						9 Months Ended
	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Sep. 30, 2013	Sep. 30, 2012
Earnings Per Share [Abstract]
Net income for common stock	$ 464	$ 172	$ 192	$ 440	$ 214	$ 277	$ 828	$ 931
Weighted average common shares outstanding - basic	292.9			292.9			292.9	292.9
Add: Incremental shares attributable to effect of potentially dilutive securities	1.4			1.7			1.4	1.7
Adjusted weighted average common shares outstanding - diluted	294.3			294.6			294.3	294.6
Net income for common stock per common share - basic	$ 1.58			$ 1.50			$ 2.83	$ 3.18
Net income for common stock per common share - diluted	$ 1.58			$ 1.49			$ 2.81	$ 3.16

XML

Fair Value Measurements - Reconciliation of Beginning and Ending Net Balances for Assets and Liabilities Measured at Level 3 Fair Value (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning Balance				$ 29
Included in Earnings				(95)
Included in Regulatory Assets and Liabilities				14
Purchases				18
Issuances
Sales
Settlements				107
Transfer In/Out of Level 3				(76)
Ending Balance		(3)		(3)
Commodity [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning Balance	(6)	(61)	(5)	(62)
Included in Earnings	(3)	(15)	5	(97)
Included in Regulatory Assets and Liabilities	(2)	19	1	11
Purchases	5	7	12	18
Issuances
Sales
Settlements	(8)	25	(27)	106
Transfer In/Out of Level 3		22		21
Ending Balance	(14)	(3)	(14)	(3)
Interest rate contract [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning Balance				(8)
Included in Earnings				(1)
Included in Regulatory Assets and Liabilities
Purchases
Issuances
Sales
Settlements				1
Transfer In/Out of Level 3				8
Ending Balance
Other assets [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning Balance				99
Included in Earnings				3
Included in Regulatory Assets and Liabilities				3
Purchases
Issuances
Sales
Settlements
Transfer In/Out of Level 3				(105)
Ending Balance
CECONY [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning Balance				83
Included in Earnings				(22)
Included in Regulatory Assets and Liabilities				10
Purchases				15
Issuances
Sales
Settlements				12
Transfer In/Out of Level 3				(86)
Ending Balance		12		12
CECONY [Member] | Commodity [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning Balance	8	(10)	10	(7)
Included in Earnings	2	(9)	9	(25)
Included in Regulatory Assets and Liabilities	(1)	8		8
Purchases	5	7	10	15
Issuances
Sales
Settlements	(6)	5	(21)	12
Transfer In/Out of Level 3		11		9
Ending Balance	8	12	8	12
CECONY [Member] | Other assets [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning Balance				90
Included in Earnings				3
Included in Regulatory Assets and Liabilities				2
Purchases
Issuances
Sales
Settlements
Transfer In/Out of Level 3				(95)
Ending Balance

XML

Other Material Contingencies - Total Guarantees (Detail) (USD $) In Millions, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Guarantor Obligations [Line Items]
Total guarantees, by type and term	$ 1,272	$ 859
Energy transactions [Member]
Guarantor Obligations [Line Items]
Total guarantees, by type and term	782
Solar energy projects [Member]
Guarantor Obligations [Line Items]
Total guarantees, by type and term	447
Intra-company guarantees [Member]
Guarantor Obligations [Line Items]
Total guarantees, by type and term	16
Other guarantees [Member]
Guarantor Obligations [Line Items]
Total guarantees, by type and term	27
0 - 3 years [Member]
Guarantor Obligations [Line Items]
Total guarantees, by type and term	1,191
0 - 3 years [Member] | Energy transactions [Member]
Guarantor Obligations [Line Items]
Total guarantees, by type and term	705
0 - 3 years [Member] | Solar energy projects [Member]
Guarantor Obligations [Line Items]
Total guarantees, by type and term	443
0 - 3 years [Member] | Intra-company guarantees [Member]
Guarantor Obligations [Line Items]
Total guarantees, by type and term	16
0 - 3 years [Member] | Other guarantees [Member]
Guarantor Obligations [Line Items]
Total guarantees, by type and term	27
4 - 10 years [Member]
Guarantor Obligations [Line Items]
Total guarantees, by type and term	52
4 - 10 years [Member] | Energy transactions [Member]
Guarantor Obligations [Line Items]
Total guarantees, by type and term	52
4 - 10 years [Member] | Solar energy projects [Member]
Guarantor Obligations [Line Items]
Total guarantees, by type and term
4 - 10 years [Member] | Intra-company guarantees [Member]
Guarantor Obligations [Line Items]
Total guarantees, by type and term
4 - 10 years [Member] | Other guarantees [Member]
Guarantor Obligations [Line Items]
Total guarantees, by type and term
Greater than 10 years [Member]
Guarantor Obligations [Line Items]
Total guarantees, by type and term	29
Greater than 10 years [Member] | Energy transactions [Member]
Guarantor Obligations [Line Items]
Total guarantees, by type and term	25
Greater than 10 years [Member] | Solar energy projects [Member]
Guarantor Obligations [Line Items]
Total guarantees, by type and term	4
Greater than 10 years [Member] | Intra-company guarantees [Member]
Guarantor Obligations [Line Items]
Total guarantees, by type and term
Greater than 10 years [Member] | Other guarantees [Member]
Guarantor Obligations [Line Items]
Total guarantees, by type and term

XML

Environmental Matters - Environmental Remediation Costs (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Accrued Environmental Remediation Costs [Line Items]
Remediation costs incurred	$ 10	$ 3	$ 35	$ 18
Insurance recoveries received
CECONY [Member]
Accrued Environmental Remediation Costs [Line Items]
Remediation costs incurred	10	1	30	15
Insurance recoveries received

XML

Pension Benefits - Companies' Net Periodic Benefit Costs (Detail) (Pension benefits [Member], USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Defined Benefit Plan Disclosure [Line Items]
Service cost - including administrative expenses	$ 67	$ 59	$ 200	$ 177
Interest cost on projected benefit obligation	134	137	403	410
Expected return on plan assets	(187)	(176)	(563)	(528)
Recognition of net actuarial loss	208	177	624	531
Recognition of prior service costs	1	2	4	6
NET PERIODIC BENEFIT COST	223	199	668	596
Amortization of regulatory asset	1		2	1
TOTAL PERIODIC BENEFIT COST	224	199	670	597
Cost capitalized	(86)	(64)	(256)	(200)
Reconciliation to rate level	(31)		(55)	(37)
Cost charged to operating expenses	107	135	359	360
CECONY [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost - including administrative expenses	62	55	186	165
Interest cost on projected benefit obligation	126	128	377	385
Expected return on plan assets	(178)	(168)	(534)	(503)
Recognition of net actuarial loss	197	168	591	503
Recognition of prior service costs	1	2	3	4
NET PERIODIC BENEFIT COST	208	185	623	554
Amortization of regulatory asset	1		2	1
TOTAL PERIODIC BENEFIT COST	209	185	625	555
Cost capitalized	(78)	(60)	(241)	(186)
Reconciliation to rate level	(34)	(1)	(56)	(36)
Cost charged to operating expenses	$ 97	$ 124	$ 328	$ 333

XML

Consolidated Statement of Comprehensive Income (USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
NET INCOME	$ 464	$ 440	$ 828	$ 934
OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAXES
Pension plan liability adjustments, net	2	2	7	8
TOTAL OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAXES	2	2	7	8
COMPREHENSIVE INCOME	466	442	835	942
Preferred stock dividend requirements of subsidiary				(3)
COMPREHENSIVE INCOME FOR COMMON STOCK	466	442	835	939
CECONY [Member]
NET INCOME	401	389	831	827
OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAXES
Pension plan liability adjustments, net				(2)
TOTAL OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAXES				(2)
COMPREHENSIVE INCOME	401	389	831	825
Preferred stock dividend requirements of subsidiary				$ (3)

XML

Pension Benefits

9 Months Ended

Sep. 30, 2013

Pension Benefits

Note E — Pension Benefits

Net Periodic Benefit Cost

The components of the Companies’ net periodic benefit costs for the three and nine months ended September 30, 2013 and 2012 were as follows:

	For the Three Months Ended September 30,
	Con Edison						CECONY
(Millions of Dollars)	2013			2012			2013			2012
Service cost – including administrative expenses		$    67			$    59			$    62			$    55
Interest cost on projected benefit obligation		134			137			126			128
Expected return on plan assets		(187	)		(176	)		(178	)		(168	)
Recognition of net actuarial loss		208			177			197			168
Recognition of prior service costs		1			2			1			2
NET PERIODIC BENEFIT COST		$ 223			$ 199			$ 208			$ 185
Amortization of regulatory asset		1			—			1			—
TOTAL PERIODIC BENEFIT COST		$ 224			$ 199			$ 209			$ 185
Cost capitalized		(86	)		(64	)		(78	)		(60	)
Reconciliation to rate level		(31	)		—			(34	)		(1	)
Cost charged to operating expenses		$ 107			$ 135			$   97			$ 124

	For the Nine Months Ended September 30,
	Con Edison						CECONY
(Millions of Dollars)	2013			2012			2013			2012
Service cost – including administrative expenses		$ 200			$ 177			$ 186			$ 165
Interest cost on projected benefit obligation		403			410			377			385
Expected return on plan assets		(563	)		(528	)		(534	)		(503	)
Recognition of net actuarial loss		624			531			591			503
Recognition of prior service costs		4			6			3			4
NET PERIODIC BENEFIT COST		$ 668			$ 596			$ 623			$ 554
Amortization of regulatory asset		2			1			2			1
TOTAL PERIODIC BENEFIT COST		$ 670			$ 597			$ 625			$ 555
Cost capitalized		(256	)		(200	)		(241	)		(186	)
Reconciliation to rate level		(55	)		(37	)		(56	)		(36	)
Cost charged to operating expenses		$ 359			$ 360			$ 328			$ 333

Contributions

The Companies made contributions to the pension plan during 2013 of $867 million (of which $810 million was contributed by CECONY). The Companies’ policy is to fund their accounting cost to the extent tax deductible. During the first nine months of 2013, CECONY also funded $11 million for the non-qualified supplemental plans.

CECONY [Member]

Pension Benefits

Note E — Pension Benefits

Net Periodic Benefit Cost

The components of the Companies’ net periodic benefit costs for the three and nine months ended September 30, 2013 and 2012 were as follows:

	For the Three Months Ended September 30,
	Con Edison						CECONY
(Millions of Dollars)	2013			2012			2013			2012
Service cost – including administrative expenses		$    67			$    59			$    62			$    55
Interest cost on projected benefit obligation		134			137			126			128
Expected return on plan assets		(187	)		(176	)		(178	)		(168	)
Recognition of net actuarial loss		208			177			197			168
Recognition of prior service costs		1			2			1			2
NET PERIODIC BENEFIT COST		$ 223			$ 199			$ 208			$ 185
Amortization of regulatory asset		1			—			1			—
TOTAL PERIODIC BENEFIT COST		$ 224			$ 199			$ 209			$ 185
Cost capitalized		(86	)		(64	)		(78	)		(60	)
Reconciliation to rate level		(31	)		—			(34	)		(1	)
Cost charged to operating expenses		$ 107			$ 135			$   97			$ 124

	For the Nine Months Ended September 30,
	Con Edison						CECONY
(Millions of Dollars)	2013			2012			2013			2012
Service cost – including administrative expenses		$ 200			$ 177			$ 186			$ 165
Interest cost on projected benefit obligation		403			410			377			385
Expected return on plan assets		(563	)		(528	)		(534	)		(503	)
Recognition of net actuarial loss		624			531			591			503
Recognition of prior service costs		4			6			3			4
NET PERIODIC BENEFIT COST		$ 668			$ 596			$ 623			$ 554
Amortization of regulatory asset		2			1			2			1
TOTAL PERIODIC BENEFIT COST		$ 670			$ 597			$ 625			$ 555
Cost capitalized		(256	)		(200	)		(241	)		(186	)
Reconciliation to rate level		(55	)		(37	)		(56	)		(36	)
Cost charged to operating expenses		$ 359			$ 360			$ 328			$ 333

Contributions

The Companies made contributions to the pension plan during 2013 of $867 million (of which $810 million was contributed by CECONY). The Companies’ policy is to fund their accounting cost to the extent tax deductible. During the first nine months of 2013, CECONY also funded $11 million for the non-qualified supplemental plans.

XML

Consolidated Statement of Cash Flows (USD $) In Millions, unless otherwise specified	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
OPERATING ACTIVITIES
NET INCOME	$ 828	$ 934
PRINCIPAL NON-CASH CHARGES/(CREDITS) TO INCOME
Depreciation and amortization	764	709
Deferred income taxes	116	344
Rate case amortization and accruals	1	32
Common equity component of allowance for funds used during construction	(2)	(3)
Net derivative (gains)/losses	(6)	(61)
Pre-tax gains on the termination of LILO transactions	(95)
Other non-cash items (net)	46	(53)
CHANGES IN ASSETS AND LIABILITIES
Accounts receivable - customers, less allowance for uncollectibles	(51)	(196)
Special deposits	(305)
Materials and supplies, including fuel oil and gas in storage	(38)	1
Other receivables and other current assets	(8)	54
Prepayments	(362)	(288)
Accounts payable	(193)	18
Pensions and retiree benefits obligations	665	713
Pensions and retiree benefits contributions	(887)	(821)
Accrued taxes	217	(80)
Accrued interest	171	46
Superfund and environmental remediation costs (net)	(6)	7
Deferred charges, noncurrent assets and other regulatory assets	(6)	183
Deferred credits and other regulatory liabilities	291	83
Other assets	51
Other liabilities	47	16
NET CASH FLOWS FROM OPERATING ACTIVITIES	1,238	1,638
INVESTING ACTIVITIES
Utility construction expenditures	(1,701)	(1,450)
Cost of removal less salvage	(144)	(118)
Non-utility construction expenditures	(149)	(68)
Investments in solar energy projects	(174)	(258)
Proceeds from grants related to solar energy projects	88	27
Increase in restricted cash	(15)
Proceeds from the termination of LILO transactions	200
NET CASH FLOWS USED IN INVESTING ACTIVITIES	(1,895)	(1,867)
FINANCING ACTIVITIES
Net proceeds of short-term debt	681	340
Preferred stock redemption		(239)
Issuance of long-term debt	919	400
Retirement of long-term debt	(707)	(304)
Issuance of common shares for stock plans, net of repurchases	(4)	(16)
Debt issuance costs	(12)	(4)
Common stock dividends	(540)	(524)
Preferred stock dividends		(3)
NET CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES	337	(350)
CASH AND TEMPORARY CASH INVESTMENTS:
NET CHANGE FOR THE PERIOD	(320)	(579)
BALANCE AT BEGINNING OF PERIOD	394	648
BALANCE AT END OF PERIOD	74	69
Cash paid during the period for:
Interest	372	379
Income taxes	27	46
CECONY [Member]
OPERATING ACTIVITIES
NET INCOME	831	827
PRINCIPAL NON-CASH CHARGES/(CREDITS) TO INCOME
Depreciation and amortization	705	664
Deferred income taxes	364	220
Rate case amortization and accruals	1	32
Common equity component of allowance for funds used during construction	(1)	(2)
Other non-cash items (net)	(72)	84
CHANGES IN ASSETS AND LIABILITIES
Accounts receivable - customers, less allowance for uncollectibles	(39)	(197)
Materials and supplies, including fuel oil and gas in storage	(26)	12
Other receivables and other current assets	(27)	(41)
Prepayments	(347)	(308)
Accounts payable	(180)	50
Pensions and retiree benefits obligations	616	639
Pensions and retiree benefits contributions	(830)	(761)
Accrued taxes	(92)	40
Accrued interest	43	46
Superfund and environmental remediation costs (net)	(6)	7
Deferred charges, noncurrent assets and other regulatory assets	63	84
Deferred credits and other regulatory liabilities	302	88
Other liabilities	64	(21)
NET CASH FLOWS FROM OPERATING ACTIVITIES	1,369	1,463
INVESTING ACTIVITIES
Utility construction expenditures	(1,614)	(1,368)
Cost of removal less salvage	(139)	(115)
NET CASH FLOWS USED IN INVESTING ACTIVITIES	(1,753)	(1,483)
FINANCING ACTIVITIES
Net proceeds of short-term debt	621	332
Preferred stock redemption		(239)
Issuance of long-term debt	700	400
Retirement of long-term debt	(700)	(300)
Debt issuance costs	(7)	(4)
Dividend to parent	(545)	(512)
Preferred stock dividends		(3)
NET CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES	69	(326)
CASH AND TEMPORARY CASH INVESTMENTS:
NET CHANGE FOR THE PERIOD	(315)	(346)
BALANCE AT BEGINNING OF PERIOD	353	372
BALANCE AT END OF PERIOD	38	26
Cash paid during the period for:
Interest	336	344
Income taxes	$ 117	$ 50

XML

Derivative Instruments and Hedging Activities - Fair Values of Commodity Derivatives Including Offsetting of Assets and Liabilities (Detail) (USD $) In Millions, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Derivatives, Fair Value [Line Items]
Gross Amounts of Recognized Assets/(Liabilities)	$ (44)	$ (90)
Gross Amounts Offset in the Statement of Financial Position	22	47
Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position	(22)	(43)
Net Amount	(22)	(43)
Derivative assets [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts of Recognized Assets/(Liabilities)	80	86
Gross Amounts Offset in the Statement of Financial Position	(52)	(57)
Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position	28	29
Net Amount	28	29
Derivative liabilities [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts of Recognized Assets/(Liabilities)	(124)	(176)
Gross Amounts Offset in the Statement of Financial Position	74	104
Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position	(50)	(72)
Net Amount	(50)	(72)
Financial instruments [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts Not Offset in the Statement of Financial Position
Financial instruments [Member] | Derivative assets [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts Not Offset in the Statement of Financial Position
Financial instruments [Member] | Derivative liabilities [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts Not Offset in the Statement of Financial Position
Cash collateral received [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts Not Offset in the Statement of Financial Position
Cash collateral received [Member] | Derivative assets [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts Not Offset in the Statement of Financial Position
Cash collateral received [Member] | Derivative liabilities [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts Not Offset in the Statement of Financial Position
CECONY [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts of Recognized Assets/(Liabilities)	(31)	(56)
Gross Amounts Offset in the Statement of Financial Position	15	29
Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position	(16)	(27)
Net Amount	(16)	(27)
CECONY [Member] | Derivative assets [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts of Recognized Assets/(Liabilities)	27	27
Gross Amounts Offset in the Statement of Financial Position	(18)	(15)
Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position	9	12
Net Amount	9	12
CECONY [Member] | Derivative liabilities [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts of Recognized Assets/(Liabilities)	(58)	(83)
Gross Amounts Offset in the Statement of Financial Position	33	44
Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position	(25)	(39)
Net Amount	(25)	(39)
CECONY [Member] | Financial instruments [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts Not Offset in the Statement of Financial Position
CECONY [Member] | Financial instruments [Member] | Derivative assets [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts Not Offset in the Statement of Financial Position
CECONY [Member] | Financial instruments [Member] | Derivative liabilities [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts Not Offset in the Statement of Financial Position
CECONY [Member] | Cash collateral received [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts Not Offset in the Statement of Financial Position
CECONY [Member] | Cash collateral received [Member] | Derivative assets [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts Not Offset in the Statement of Financial Position
CECONY [Member] | Cash collateral received [Member] | Derivative liabilities [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts Not Offset in the Statement of Financial Position

XML

Consolidated Income Statement (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
OPERATING REVENUES
Electric	$ 2,822	$ 2,810	$ 6,799	$ 6,762
Gas	225	216	1,333	1,161
Steam	72	68	522	414
Non-utility	365	344	833	950
TOTAL OPERATING REVENUES	3,484	3,438	9,487	9,287
OPERATING EXPENSES
Purchased power	946	930	2,421	2,440
Fuel	56	59	261	213
Gas purchased for resale	74	56	443	314
Other operations and maintenance	795	826	2,400	2,365
Depreciation and amortization	258	240	764	709
Taxes, other than income taxes	500	476	1,431	1,360
TOTAL OPERATING EXPENSES	2,629	2,587	7,720	7,401
OPERATING INCOME	855	851	1,767	1,886
OTHER INCOME (DEDUCTIONS)
Investment and other income	8	4	19	14
Allowance for equity funds used during construction	1	1	2	3
Other deductions	(4)	(3)	(12)	(13)
TOTAL OTHER INCOME (DEDUCTIONS)	5	2	9	4
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE	860	853	1,776	1,890
INTEREST EXPENSE
Interest on long-term debt	145	146	433	440
Other interest	2	6	143	17
Allowance for borrowed funds used during construction	(1)		(1)	(2)
NET INTEREST EXPENSE	146	152	575	455
INCOME BEFORE INCOME TAX EXPENSE	714	701	1,201	1,435
INCOME TAX EXPENSE	250	261	373	501
NET INCOME	464	440	828	934
Cumulative preferred dividends				(3)
NET INCOME FOR COMMON STOCK	464	440	828	931
Net income for common stock per common share-basic	$ 1.58	$ 1.50	$ 2.83	$ 3.18
Net income for common stock per common share-diluted	$ 1.58	$ 1.49	$ 2.81	$ 3.16
DIVIDENDS DECLARED PER SHARE OF COMMON STOCK	$ 0.615	$ 0.605	$ 1.845	$ 1.815
AVERAGE NUMBER OF SHARES OUTSTANDING-BASIC (IN MILLIONS)	292.9	292.9	292.9	292.9
AVERAGE NUMBER OF SHARES OUTSTANDING-DILUTED (IN MILLIONS)	294.3	294.6	294.3	294.6
CECONY [Member]
OPERATING REVENUES
Electric	2,622	2,611	6,309	6,307
Gas	199	189	1,190	1,017
Steam	72	68	522	414
TOTAL OPERATING REVENUES	2,893	2,868	8,021	7,738
OPERATING EXPENSES
Purchased power	624	604	1,548	1,554
Fuel	56	59	261	213
Gas purchased for resale	58	45	376	264
Other operations and maintenance	686	725	2,102	2,065
Depreciation and amortization	237	225	705	664
Taxes, other than income taxes	480	456	1,370	1,300
TOTAL OPERATING EXPENSES	2,141	2,114	6,362	6,060
OPERATING INCOME	752	754	1,659	1,678
OTHER INCOME (DEDUCTIONS)
Investment and other income	1	2	7	6
Allowance for equity funds used during construction	1		1	2
Other deductions	(3)	(2)	(10)	(10)
TOTAL OTHER INCOME (DEDUCTIONS)	(1)		(2)	(2)
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE	751	754	1,657	1,676
INTEREST EXPENSE
Interest on long-term debt	127	130	384	395
Other interest	1	8	12	19
Allowance for borrowed funds used during construction			(1)	(1)
NET INTEREST EXPENSE	128	138	395	413
INCOME BEFORE INCOME TAX EXPENSE	623	616	1,262	1,263
INCOME TAX EXPENSE	222	227	431	436
NET INCOME	401	389	831	827
Cumulative preferred dividends				(3)
NET INCOME FOR COMMON STOCK	$ 401	$ 389	$ 831	$ 824

XML

Environmental Matters - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2010
CECONY [Member] | Asbestos Proceedings [Member]
Accrued Environmental Remediation Costs [Line Items]
Estimated undiscounted asbestos liability	$ 10
Estimated undiscounted asbestos liability in year	15 years
CECONY [Member] | Superfund Sites [Member] | Manufactured Gas Plant Sites [Member]
Accrued Environmental Remediation Costs [Line Items]
Estimated aggregate undiscounted potential liability related environmental contaminants	1,900.0
O&R [Member] | Superfund Sites [Member] | Manufactured Gas Plant Sites [Member]
Accrued Environmental Remediation Costs [Line Items]
Estimated aggregate undiscounted potential liability related environmental contaminants	$ 200.0

XML

Other Postretirement Benefits (Tables) (Other Postretirement Benefits [Member])

9 Months Ended

Sep. 30, 2013

Other Postretirement Benefits [Member]

Net Periodic Postretirement Benefit Costs

The components of the Companies’ net periodic postretirement benefit costs for the three and nine months ended September 30, 2013 and 2012 were as follows:

	For the Three Months Ended September 30,
	Con Edison						CECONY
(Millions of Dollars)	2013			2012			2013			2012
Service cost		$   6			$   6			$   5			$   5
Interest cost on accumulated other postretirement benefit obligation		13			18			12			16
Expected return on plan assets		(19	)		(21	)		(17	)		(19	)
Recognition of net actuarial loss		16			24			14			22
Recognition of prior service cost		(7	)		(5	)		(6	)		(4	)
NET PERIODIC POSTRETIREMENT BENEFIT COST		$   9			$ 22			$   8			$ 20
Cost capitalized		(3	)		(8	)		(3	)		(7	)
Reconciliation to rate level		14			3			12			3
Cost charged to operating expenses		$ 20			$ 17			$ 17			$ 16

	For the Nine Months Ended September 30,
	Con Edison						CECONY
(Millions of Dollars)	2013			2012			2013			2012
Service cost		$ 18			$  20			$ 14			$ 15
Interest cost on accumulated other postretirement benefit obligation		40			55			34			48
Expected return on plan assets		(58	)		(64	)		(51	)		(56	)
Recognition of net actuarial loss		48			73			43			65
Recognition of prior service cost		(20	)		(16	)		(17	)		(13	)
Recognition of transition obligation		—			1			—			1
NET PERIODIC POSTRETIREMENT BENEFIT COST		$ 28			$  69			$ 23			$ 60
Cost capitalized		(10	)		(24	)		(9	)		(20	)
Reconciliation to rate level		43			15			37			12
Cost charged to operating expenses		$ 61			$  60			$ 51			$ 52

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Asset Retirement Obligations

9 Months Ended

Sep. 30, 2013

Asset Retirement Obligations

Note N — Asset Retirement Obligations

The Companies account for retirement obligations on their assets in accordance with the accounting rules for asset retirement obligations.

The Companies recorded asset retirement obligations associated with the removal of asbestos and asbestos-containing material in their buildings (other than generating station and substation building structures themselves), electric equipment, and steam and gas distribution systems. The Companies also recorded asset retirement obligations relating to gas pipelines abandoned in place. The estimates of future liabilities were developed using historical information, and where available, quoted prices from outside contractors.

The Companies did not record an asset retirement obligation for the removal of asbestos associated with the generating station and substation building structures themselves. For these building structures, the Companies were unable to reasonably estimate their asset retirement obligations because the Companies were unable to estimate the undiscounted retirement costs or the retirement dates and settlement dates. The amount of the undiscounted retirement costs could vary considerably depending on the disposition method for the building structures, and the method has not been determined. The Companies anticipate continuing to use these building structures in their businesses for an indefinite period, and so the retirement dates and settlement dates are not determinable.

The accrued liability for asset retirement obligations and the regulatory liabilities for allowance for cost of removal less salvage for the Companies at September 30, 2013 and December 31, 2012 were as follows:

	Con Edison				CECONY
(Millions of Dollars)	2013		2012		2013		2012
Accrued liability — asset retirement obligations		$164		$159		$163		$158
Regulatory liabilities — allowance for cost of removal less salvage		$522		$503		$436		$420

CECONY [Member]

Asset Retirement Obligations

Note N — Asset Retirement Obligations

The Companies account for retirement obligations on their assets in accordance with the accounting rules for asset retirement obligations.

The Companies recorded asset retirement obligations associated with the removal of asbestos and asbestos-containing material in their buildings (other than generating station and substation building structures themselves), electric equipment, and steam and gas distribution systems. The Companies also recorded asset retirement obligations relating to gas pipelines abandoned in place. The estimates of future liabilities were developed using historical information, and where available, quoted prices from outside contractors.

The Companies did not record an asset retirement obligation for the removal of asbestos associated with the generating station and substation building structures themselves. For these building structures, the Companies were unable to reasonably estimate their asset retirement obligations because the Companies were unable to estimate the undiscounted retirement costs or the retirement dates and settlement dates. The amount of the undiscounted retirement costs could vary considerably depending on the disposition method for the building structures, and the method has not been determined. The Companies anticipate continuing to use these building structures in their businesses for an indefinite period, and so the retirement dates and settlement dates are not determinable.

The accrued liability for asset retirement obligations and the regulatory liabilities for allowance for cost of removal less salvage for the Companies at September 30, 2013 and December 31, 2012 were as follows:

	Con Edison				CECONY
(Millions of Dollars)	2013		2012		2013		2012
Accrued liability — asset retirement obligations		$164		$159		$163		$158
Regulatory liabilities — allowance for cost of removal less salvage		$522		$503		$436		$420

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Short-Term Borrowing - Additional Information (Detail) (USD $)	9 Months Ended	12 Months Ended
	Sep. 30, 2013	Dec. 31, 2012
Short-term Debt [Line Items]
Commercial paper, outstanding	$ 1,220,000,000	$ 539,000,000
Weighted average interest rate	0.30%	0.30%
Loans outstanding under the credit agreement
Letters of credit outstanding under the credit agreement	29,000,000	131,000,000
Aggregate commitments under the credit agreement	2,100,000,000
Previously Reported [Member]
Short-term Debt [Line Items]
Credit agreement termination date	Oct. 31, 2016
Currently Reported [Member]
Short-term Debt [Line Items]
Credit agreement termination date	Oct. 31, 2017
CECONY [Member]
Short-term Debt [Line Items]
Commercial paper, outstanding	1,042,000,000	421,000,000
Weighted average interest rate	0.30%	0.30%
Letters of credit outstanding under the credit agreement	$ 11,000,000	$ 121,000,000

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Other Material Contingencies - Schedule of Leveraged Lease Transactions Effect on Consolidated Income Statement (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2013
Leveraged Lease [Line Items]
Total increase/(decrease) in net income	$ 26	$ (95)
Increase/(decrease) to non-utility operating revenues [Member]
Leveraged Lease [Line Items]
Total increase/(decrease) in net income	44	(27)
(Increase)/decrease to other interest expense [Member]
Leveraged Lease [Line Items]
Total increase/(decrease) in net income		(131)
Income tax benefit/(expense) [Member]
Leveraged Lease [Line Items]
Total increase/(decrease) in net income	$ (18)	$ 63

XML

Derivative Instruments and Hedging Activities - Aggregate Fair Value of All Derivative Instruments with Credit-Risk-Related Contingent Features (Detail) (USD $) In Millions, unless otherwise specified	Sep. 30, 2013
Derivatives, Fair Value [Line Items]
Aggregate fair value - net liabilities	$ 31
Collateral posted
Additional Collateral Required Due To Loss Of Unsecured Credit [Member]
Derivatives, Fair Value [Line Items]
Collateral posted	35
Additional collateral
Additional Collateral Aggregate Fair Value Down below Investment Grade [Member]
Derivatives, Fair Value [Line Items]
Collateral posted	37
Additional collateral	42
CECONY [Member]
Derivatives, Fair Value [Line Items]
Aggregate fair value - net liabilities	25
Collateral posted
CECONY [Member] | Additional Collateral Required Due To Loss Of Unsecured Credit [Member]
Derivatives, Fair Value [Line Items]
Collateral posted	14
Additional collateral
CECONY [Member] | Additional Collateral Aggregate Fair Value Down below Investment Grade [Member]
Derivatives, Fair Value [Line Items]
Additional collateral	$ 29

XML

Summary of Significant Accounting Policies - Changes in Accumulated Other Comprehensive Income by Component (Parenthetical) (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013
OCI before reclassifications, Tax			$ 1
Amounts reclassified from accumulated OCI related to pension plan liabilities, Tax	1	1	1
CECONY [Member]
OCI before reclassifications, Tax
Amounts reclassified from accumulated OCI related to pension plan liabilities, Tax

XML

Asset Retirement Obligations (Tables)

9 Months Ended

Sep. 30, 2013

Asset Retirement Obligation Disclosure [Abstract]

Accrued Liability for Asset Retirement Obligations and Regulatory Liabilities

The accrued liability for asset retirement obligations and the regulatory liabilities for allowance for cost of removal less salvage for the Companies at September 30, 2013 and December 31, 2012 were as follows:

	Con Edison				CECONY
(Millions of Dollars)	2013		2012		2013		2012
Accrued liability — asset retirement obligations		$164		$159		$163		$158
Regulatory liabilities — allowance for cost of removal less salvage		$522		$503		$436		$420

XML

Summary of Significant Accounting Policies - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	6 Months Ended
	Jun. 30, 2013
Regulatory Assets [Abstract]
Reduction in net cash flow from financing activities instead of operating activities	$ 108

XML

Short-Term Borrowing

9 Months Ended

Sep. 30, 2013

Short-Term Borrowing

Note D — Short-Term Borrowing

At September 30, 2013, Con Edison had $1,220 million of commercial paper outstanding of which $1,042 million was outstanding under CECONY’s program. The weighted average interest rate was 0.3 percent for both Con Edison and CECONY. At December 31, 2012, Con Edison had $539 million of commercial paper outstanding of which $421 million was outstanding under CECONY’s program. The weighted average interest rate was 0.3 percent for both Con Edison and CECONY. At September 30, 2013 and December 31, 2012, no loans were outstanding under the Companies’ credit agreement and $29 million (including $11 million for CECONY) and $131 million (including $121 million for CECONY) of letters of credit were outstanding, respectively, under the credit agreement. In 2013, the termination date under the credit agreement was extended from October 2016 to October 2017 with respect to lenders with aggregate commitments under the credit agreement of approximately $2.1 billion.

CECONY [Member]

Short-Term Borrowing

Note D — Short-Term Borrowing

At September 30, 2013, Con Edison had $1,220 million of commercial paper outstanding of which $1,042 million was outstanding under CECONY’s program. The weighted average interest rate was 0.3 percent for both Con Edison and CECONY. At December 31, 2012, Con Edison had $539 million of commercial paper outstanding of which $421 million was outstanding under CECONY’s program. The weighted average interest rate was 0.3 percent for both Con Edison and CECONY. At September 30, 2013 and December 31, 2012, no loans were outstanding under the Companies’ credit agreement and $29 million (including $11 million for CECONY) and $131 million (including $121 million for CECONY) of letters of credit were outstanding, respectively, under the credit agreement. In 2013, the termination date under the credit agreement was extended from October 2016 to October 2017 with respect to lenders with aggregate commitments under the credit agreement of approximately $2.1 billion.

XML

Derivative Instruments and Hedging Activities - Changes in Fair Values of Commodity Derivatives (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Total deferred gains/(losses)		$ 6	$ 1	$ 6
Total deferred gains/(losses)	(2)	13	5	(85)
Net deferred gains/(losses)	(2)	19	6	(79)
Pre-tax gain/(loss) recognized in income
Total pre-tax gain/(loss) recognized in income	4	10	23	(62)
Deferred derivative gains, Current [Member]
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Total deferred gains/(losses)		5	1	5
Regulatory liabilities, Long-term [Member]
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Total deferred gains/(losses)		1		1
Deferred derivative losses, Current [Member]
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Total deferred gains/(losses)	11	51	24	89
Recoverable energy costs, Current [Member]
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Total deferred gains/(losses)	(19)	(60)	(22)	(187)
Regulatory assets, Long-term [Member]
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Total deferred gains/(losses)	6	22	3	13
CECONY [Member]
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Total deferred gains/(losses)		6	1	6
Total deferred gains/(losses)	(1)	10	7	(67)
Net deferred gains/(losses)	(1)	16	8	(61)
Pre-tax gain/(loss) recognized in income
Total pre-tax gain/(loss) recognized in income
CECONY [Member] | Deferred derivative gains, Current [Member]
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Total deferred gains/(losses)		5	1	5
CECONY [Member] | Regulatory liabilities, Long-term [Member]
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Total deferred gains/(losses)		1		1
CECONY [Member] | Deferred derivative losses, Current [Member]
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Total deferred gains/(losses)	9	42	19	78
CECONY [Member] | Recoverable energy costs, Current [Member]
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Total deferred gains/(losses)	(17)	(52)	(19)	(164)
CECONY [Member] | Regulatory assets, Long-term [Member]
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Total deferred gains/(losses)	7	20	7	19
Purchased power expense [Member]
Pre-tax gain/(loss) recognized in income
Total pre-tax gain/(loss) recognized in income	3	9	32	(49)
Purchased power expense [Member] | CECONY [Member]
Pre-tax gain/(loss) recognized in income
Total pre-tax gain/(loss) recognized in income
Gas purchased for resale [Member]
Pre-tax gain/(loss) recognized in income
Total pre-tax gain/(loss) recognized in income	(6)		(17)	(2)
Gas purchased for resale [Member] | CECONY [Member]
Pre-tax gain/(loss) recognized in income
Total pre-tax gain/(loss) recognized in income
Non-utility revenue [Member]
Pre-tax gain/(loss) recognized in income
Total pre-tax gain/(loss) recognized in income	7	1	8	(11)
Non-utility revenue [Member] | CECONY [Member]
Pre-tax gain/(loss) recognized in income
Total pre-tax gain/(loss) recognized in income

XML

Environmental Matters (Tables)

9 Months Ended

Sep. 30, 2013

Environmental Remediation Obligations [Abstract]

Accrued Liabilities and Regulatory Assets

The accrued liabilities and regulatory assets related to Superfund Sites at September 30, 2013 and December 31, 2012 were as follows:

	Con Edison				CECONY
(Millions of Dollars)	2013		2012		2013		2012
Accrued Liabilities:
Manufactured gas plant sites		$439		$462		$332		$351
Other Superfund Sites		73		83		71		82
Total		$512		$545		$403		$433
Regulatory assets		$704		$730		$591		$615

Environmental Remediation Costs

Environmental remediation costs incurred and insurance recoveries received related to Superfund Sites for the three and nine months ended September 30, 2013 and 2012 were as follows:

	For the Three Months Ended September 30,
	Con Edison				CECONY
(Millions of Dollars)	2013		2012		2013		2012
Remediation costs incurred		$10		$3		$10		$1
Insurance recoveries received		—		—		—		—

	For the Nine Months Ended September 30,
	Con Edison				CECONY
(Millions of Dollars)	2013		2012		2013		2012
Remediation costs incurred		$35		$18		$30		$15
Insurance recoveries received		—		—		—		—

Accrued Liability for Asbestos Suits and Workers' Compensation Proceedings

The accrued liability for asbestos suits and workers’ compensation proceedings (including those related to asbestos exposure) and the amounts deferred as regulatory assets for the Companies at September 30, 2013 and December 31, 2012 were as follows:

	Con Edison				CECONY
(Millions of Dollars)	2013		2012		2013		2012
Accrued liability – asbestos suits		$10		$10		$10		$10
Regulatory assets – asbestos suits		$10		$10		$10		$10
Accrued liability – workers’ compensation		$91		$94		$86		$89
Regulatory assets – workers’ compensation		$16		$19		$16		$19

XML

Capitalization - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	1 Months Ended					1 Months Ended					9 Months Ended
	Apr. 30, 2013	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2013 Level 2 [Member]	Sep. 30, 2013 Level 3 [Member]	Jun. 30, 2013 CECONY [Member]	Feb. 28, 2013 CECONY [Member]	Sep. 30, 2013 CECONY [Member]	Dec. 31, 2012 CECONY [Member]	Sep. 30, 2013 CECONY [Member] Level 2 [Member]	Sep. 30, 2013 CECONY [Member] Level 3 [Member]
Schedule of Capitalization [Line Items]
Debentures issued							$ 700
Debentures interest rate	4.78%						3.95%
Period of debentures							30 years
Redeemable debentures						200	500
Redeemable debentures interest rate						3.85%	4.875%
Period of redeemable debentures						10 years	10 years
Senior notes issued	219
Senior notes weighted average life	15 years
Senior notes maturity date	2037
Long-term debt, fair value		12,213	12,935	11,577	636			10,925	11,751	10,289	636
Tax - exempt debt											$ 636

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Environmental Matters

9 Months Ended

Sep. 30, 2013

Environmental Matters

Note G — Environmental Matters

Superfund Sites

Hazardous substances, such as asbestos, polychlorinated biphenyls (PCBs) and coal tar, have been used or generated in the course of operations of the Utilities and their predecessors and are present at sites and in facilities and equipment they currently or previously owned, including sites at which gas was manufactured or stored.

The Federal Comprehensive Environmental Response, Compensation and Liability Act of 1980 and similar state statutes (Superfund) impose joint and several liability, regardless of fault, upon generators of hazardous substances for investigation and remediation costs (which include costs of demolition, removal, disposal, storage, replacement, containment, and monitoring) and natural resource damages. Liability under these laws can be material and may be imposed for contamination from past acts, even though such past acts may have been lawful at the time they occurred. The sites at which the Utilities have been asserted to have liability under these laws, including their manufactured gas plant sites and any neighboring areas to which contamination may have migrated, are referred to herein as “Superfund Sites.”

For Superfund Sites where there are other potentially responsible parties and the Utilities are not managing the site investigation and remediation, the accrued liability represents an estimate of the amount the Utilities will need to pay to investigate and, where determinable, discharge their related obligations. For Superfund Sites (including the manufactured gas plant sites) for which one of the Utilities is managing the investigation and remediation, the accrued liability represents an estimate of the company’s share of undiscounted cost to investigate the sites and, for sites that have been investigated in whole or in part, the cost to remediate the sites, if remediation is necessary and if a reasonable estimate of such cost can be made. Remediation costs are estimated in light of the information available, applicable remediation standards, and experience with similar sites.

The accrued liabilities and regulatory assets related to Superfund Sites at September 30, 2013 and December 31, 2012 were as follows:

	Con Edison				CECONY
(Millions of Dollars)	2013		2012		2013		2012
Accrued Liabilities:
Manufactured gas plant sites		$439		$462		$332		$351
Other Superfund Sites		73		83		71		82
Total		$512		$545		$403		$433
Regulatory assets		$704		$730		$591		$615

Most of the accrued Superfund Site liability relates to sites that have been investigated, in whole or in part. However, for some of the sites, the extent and associated cost of the required remediation has not yet been determined. As investigations progress and information pertaining to the required remediation becomes available, the Utilities expect that additional liability may be accrued, the amount of which is not presently determinable but may be material. Under their current rate agreements, the Utilities are permitted to recover or defer as regulatory assets (for subsequent recovery through rates) certain site investigation and remediation costs.

Environmental remediation costs incurred and insurance recoveries received related to Superfund Sites for the three and nine months ended September 30, 2013 and 2012 were as follows:

	For the Three Months Ended September 30,
	Con Edison				CECONY
(Millions of Dollars)	2013		2012		2013		2012
Remediation costs incurred		$10		$3		$10		$1
Insurance recoveries received		—		—		—		—

	For the Nine Months Ended September 30,
	Con Edison				CECONY
(Millions of Dollars)	2013		2012		2013		2012
Remediation costs incurred		$35		$18		$30		$15
Insurance recoveries received		—		—		—		—

In 2010, CECONY estimated that for its manufactured gas plant sites, its aggregate undiscounted potential liability for the investigation and remediation of coal tar and/or other manufactured gas plant-related environmental contaminants could range up to $1.9 billion. In 2010, O&R estimated that for its manufactured gas plant sites, each of which has been investigated, the aggregate undiscounted potential liability for the remediation of such contaminants could range up to $200 million. These estimates were based on the assumption that there is contamination at all sites, including those that have not yet been fully investigated and additional assumptions about the extent of the contamination and the type and extent of the remediation that may be required. Actual experience may be materially different.

Asbestos Proceedings

Suits have been brought in New York State and federal courts against the Utilities and many other defendants, wherein a large number of plaintiffs sought large amounts of compensatory and punitive damages for deaths and injuries allegedly caused by exposure to asbestos at various premises of the Utilities. The suits that have been resolved, which are many, have been resolved without any payment by the Utilities, or for amounts that were not, in the aggregate, material to them. The amounts specified in all the remaining thousands of suits total billions of dollars; however, the Utilities believe that these amounts are greatly exaggerated, based on the disposition of previous claims. In 2010, CECONY estimated that its aggregate undiscounted potential liability for these suits and additional suits that may be brought over the next 15 years is $10 million. The estimate was based upon a combination of modeling, historical data analysis and risk factor assessment. Actual experience may be materially different. In addition, certain current and former employees have claimed or are claiming workers’ compensation benefits based on alleged disability from exposure to asbestos. Under its current rate agreements, CECONY is permitted to defer as regulatory assets (for subsequent recovery through rates) costs incurred for its asbestos lawsuits and workers’ compensation claims. The accrued liability for asbestos suits and workers’ compensation proceedings (including those related to asbestos exposure) and the amounts deferred as regulatory assets for the Companies at September 30, 2013 and December 31, 2012 were as follows:

	Con Edison				CECONY
(Millions of Dollars)	2013		2012		2013		2012
Accrued liability – asbestos suits		$10		$10		$10		$10
Regulatory assets – asbestos suits		$10		$10		$10		$10
Accrued liability – workers’ compensation		$91		$94		$86		$89
Regulatory assets – workers’ compensation		$16		$19		$16		$19

CECONY [Member]

Environmental Matters

Note G — Environmental Matters

Superfund Sites

Hazardous substances, such as asbestos, polychlorinated biphenyls (PCBs) and coal tar, have been used or generated in the course of operations of the Utilities and their predecessors and are present at sites and in facilities and equipment they currently or previously owned, including sites at which gas was manufactured or stored.

The Federal Comprehensive Environmental Response, Compensation and Liability Act of 1980 and similar state statutes (Superfund) impose joint and several liability, regardless of fault, upon generators of hazardous substances for investigation and remediation costs (which include costs of demolition, removal, disposal, storage, replacement, containment, and monitoring) and natural resource damages. Liability under these laws can be material and may be imposed for contamination from past acts, even though such past acts may have been lawful at the time they occurred. The sites at which the Utilities have been asserted to have liability under these laws, including their manufactured gas plant sites and any neighboring areas to which contamination may have migrated, are referred to herein as “Superfund Sites.”

For Superfund Sites where there are other potentially responsible parties and the Utilities are not managing the site investigation and remediation, the accrued liability represents an estimate of the amount the Utilities will need to pay to investigate and, where determinable, discharge their related obligations. For Superfund Sites (including the manufactured gas plant sites) for which one of the Utilities is managing the investigation and remediation, the accrued liability represents an estimate of the company’s share of undiscounted cost to investigate the sites and, for sites that have been investigated in whole or in part, the cost to remediate the sites, if remediation is necessary and if a reasonable estimate of such cost can be made. Remediation costs are estimated in light of the information available, applicable remediation standards, and experience with similar sites.

The accrued liabilities and regulatory assets related to Superfund Sites at September 30, 2013 and December 31, 2012 were as follows:

	Con Edison				CECONY
(Millions of Dollars)	2013		2012		2013		2012
Accrued Liabilities:
Manufactured gas plant sites		$439		$462		$332		$351
Other Superfund Sites		73		83		71		82
Total		$512		$545		$403		$433
Regulatory assets		$704		$730		$591		$615

Most of the accrued Superfund Site liability relates to sites that have been investigated, in whole or in part. However, for some of the sites, the extent and associated cost of the required remediation has not yet been determined. As investigations progress and information pertaining to the required remediation becomes available, the Utilities expect that additional liability may be accrued, the amount of which is not presently determinable but may be material. Under their current rate agreements, the Utilities are permitted to recover or defer as regulatory assets (for subsequent recovery through rates) certain site investigation and remediation costs.

Environmental remediation costs incurred and insurance recoveries received related to Superfund Sites for the three and nine months ended September 30, 2013 and 2012 were as follows:

	For the Three Months Ended September 30,
	Con Edison				CECONY
(Millions of Dollars)	2013		2012		2013		2012
Remediation costs incurred		$10		$3		$10		$1
Insurance recoveries received		—		—		—		—

	For the Nine Months Ended September 30,
	Con Edison				CECONY
(Millions of Dollars)	2013		2012		2013		2012
Remediation costs incurred		$35		$18		$30		$15
Insurance recoveries received		—		—		—		—

In 2010, CECONY estimated that for its manufactured gas plant sites, its aggregate undiscounted potential liability for the investigation and remediation of coal tar and/or other manufactured gas plant-related environmental contaminants could range up to $1.9 billion. In 2010, O&R estimated that for its manufactured gas plant sites, each of which has been investigated, the aggregate undiscounted potential liability for the remediation of such contaminants could range up to $200 million. These estimates were based on the assumption that there is contamination at all sites, including those that have not yet been fully investigated and additional assumptions about the extent of the contamination and the type and extent of the remediation that may be required. Actual experience may be materially different.

Asbestos Proceedings

Suits have been brought in New York State and federal courts against the Utilities and many other defendants, wherein a large number of plaintiffs sought large amounts of compensatory and punitive damages for deaths and injuries allegedly caused by exposure to asbestos at various premises of the Utilities. The suits that have been resolved, which are many, have been resolved without any payment by the Utilities, or for amounts that were not, in the aggregate, material to them. The amounts specified in all the remaining thousands of suits total billions of dollars; however, the Utilities believe that these amounts are greatly exaggerated, based on the disposition of previous claims. In 2010, CECONY estimated that its aggregate undiscounted potential liability for these suits and additional suits that may be brought over the next 15 years is $10 million. The estimate was based upon a combination of modeling, historical data analysis and risk factor assessment. Actual experience may be materially different. In addition, certain current and former employees have claimed or are claiming workers’ compensation benefits based on alleged disability from exposure to asbestos. Under its current rate agreements, CECONY is permitted to defer as regulatory assets (for subsequent recovery through rates) costs incurred for its asbestos lawsuits and workers’ compensation claims. The accrued liability for asbestos suits and workers’ compensation proceedings (including those related to asbestos exposure) and the amounts deferred as regulatory assets for the Companies at September 30, 2013 and December 31, 2012 were as follows:

	Con Edison				CECONY
(Millions of Dollars)	2013		2012		2013		2012
Accrued liability – asbestos suits		$10		$10		$10		$10
Regulatory assets – asbestos suits		$10		$10		$10		$10
Accrued liability – workers’ compensation		$91		$94		$86		$89
Regulatory assets – workers’ compensation		$16		$19		$16		$19

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Capitalization

9 Months Ended

Sep. 30, 2013

Capitalization

Note C — Capitalization

In February 2013, CECONY issued $700 million aggregate principal amount of 3.95 percent 30-year debentures and redeemed at maturity $500 million of 4.875 percent 10-year debentures. In June 2013, CECONY redeemed at maturity $200 million of 3.85 percent 10-year debentures. In April 2013, a Con Edison Development subsidiary issued $219 million aggregate principal amount of 4.78 percent senior notes secured by the company’s California solar energy projects. The notes have a weighted average life of 15 years and final maturity of 2037.

The carrying amounts and fair values of long-term debt are:

(Millions of Dollars)	September 30, 2013				December 31, 2012
Long-Term Debt (including current portion)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Con Edison		$10,976		$12,213		$10,768		$12,935
CECONY		$  9,841		$10,925		$  9,845		$11,751

Fair values of long-term debt have been estimated primarily using available market information. For Con Edison, $11,577 million and $636 million of the fair value of long-term debt at September 30, 2013 are classified as Level 2 and Level 3, respectively. For CECONY, $10,289 million and $636 million of the fair value of long-term debt at September 30, 2013 are classified as Level 2 and Level 3, respectively (see Note L). The $636 million of long-term debt classified as Level 3 is CECONY’s tax-exempt, auction-rate securities for which the market is highly illiquid and there is a lack of observable inputs.

CECONY [Member]

Capitalization

Note C — Capitalization

In February 2013, CECONY issued $700 million aggregate principal amount of 3.95 percent 30-year debentures and redeemed at maturity $500 million of 4.875 percent 10-year debentures. In June 2013, CECONY redeemed at maturity $200 million of 3.85 percent 10-year debentures. In April 2013, a Con Edison Development subsidiary issued $219 million aggregate principal amount of 4.78 percent senior notes secured by the company’s California solar energy projects. The notes have a weighted average life of 15 years and final maturity of 2037.

The carrying amounts and fair values of long-term debt are:

(Millions of Dollars)	September 30, 2013				December 31, 2012
Long-Term Debt (including current portion)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Con Edison		$10,976		$12,213		$10,768		$12,935
CECONY		$  9,841		$10,925		$  9,845		$11,751

Fair values of long-term debt have been estimated primarily using available market information. For Con Edison, $11,577 million and $636 million of the fair value of long-term debt at September 30, 2013 are classified as Level 2 and Level 3, respectively. For CECONY, $10,289 million and $636 million of the fair value of long-term debt at September 30, 2013 are classified as Level 2 and Level 3, respectively (see Note L). The $636 million of long-term debt classified as Level 3 is CECONY’s tax-exempt, auction-rate securities for which the market is highly illiquid and there is a lack of observable inputs.

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Consolidated Balance Sheet (Parenthetical) (USD $) In Millions, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Accounts receivable - customers, allowance for uncollectible accounts	$ 95	$ 94
Other receivables, allowance for uncollectible accounts	8	10
Non-utility property, accumulated depreciation	84	68
Intangible assets, accumulated amortization	4	4
CECONY [Member]
Accounts receivable - customers, allowance for uncollectible accounts	89	87
Other receivables, allowance for uncollectible accounts	6	9
Non-utility property, accumulated depreciation	$ 25	$ 25

XML

Environmental Matters - Accrued Liability for Asbestos Suits and Workers' Compensation Proceedings (Detail) (USD $) In Millions, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Site Contingency [Line Items]
Regulatory assets	$ 9,236	$ 9,779
Asbestos suits [Member]
Site Contingency [Line Items]
Accrued liability	10	10
Regulatory assets	10	10
Workers Compensation Insurance [Member]
Site Contingency [Line Items]
Accrued liability	91	94
Regulatory assets	16	19
CECONY [Member]
Site Contingency [Line Items]
Regulatory assets	8,539	9,032
CECONY [Member] | Asbestos suits [Member]
Site Contingency [Line Items]
Accrued liability	10	10
Regulatory assets	10	10
CECONY [Member] | Workers Compensation Insurance [Member]
Site Contingency [Line Items]
Accrued liability	86	89
Regulatory assets	$ 16	$ 19

XML

Other Postretirement Benefits - Net Periodic Postretirement Benefit Costs (Detail) (Other Postretirement Benefits [Member], USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Schedule Of Other Postretirement Benefits [Line Items]
Service cost	$ 6	$ 6	$ 18	$ 20
Interest cost on accumulated other postretirement benefit obligation	13	18	40	55
Expected return on plan assets	(19)	(21)	(58)	(64)
Recognition of net actuarial loss	16	24	48	73
Recognition of prior service cost	(7)	(5)	(20)	(16)
Recognition of transition obligation				1
NET PERIODIC BENEFIT COST	9	22	28	69
Cost capitalized	(3)	(8)	(10)	(24)
Reconciliation to rate level	14	3	43	15
Cost charged to operating expenses	20	17	61	60
CECONY [Member]
Schedule Of Other Postretirement Benefits [Line Items]
Service cost	5	5	14	15
Interest cost on accumulated other postretirement benefit obligation	12	16	34	48
Expected return on plan assets	(17)	(19)	(51)	(56)
Recognition of net actuarial loss	14	22	43	65
Recognition of prior service cost	(6)	(4)	(17)	(13)
Recognition of transition obligation				1
NET PERIODIC BENEFIT COST	8	20	23	60
Cost capitalized	(3)	(7)	(9)	(20)
Reconciliation to rate level	12	3	37	12
Cost charged to operating expenses	$ 17	$ 16	$ 51	$ 52

XML

Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2013

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Fair Values of Commodity Derivatives Including Offsetting of Assets and Liabilities

The fair values of the Companies’ commodity derivatives including the offsetting of assets and liabilities at September 30, 2013 were:

(Millions of Dollars)
Commodity Derivatives	Gross Amounts of Recognized Assets/(Liabilities)			Gross Amounts Offset in the Statement of Financial Position			Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position			Gross Amounts Not Offset in the Statement of Financial Position				Net Amount
										Financial instruments		Cash collateral received
Con Edison
Derivative assets	$	80		$	(52	)	$	28	(a)	$	—	$	—	$	28	(a)
Derivative liabilities		(124	)		74			(50	)		—		—		(50	)
Net derivative assets/(liabilities)	$	(44	)	$	22		$	(22	)(a)	$	—	$	—	$	(22	)(a)
CECONY
Derivative assets	$	27		$	(18	)	$	9	(a)	$	—	$	—	$	9	(a)
Derivative liabilities		(58	)		33			(25	)		—		—		(25	)
Net derivative assets/(liabilities)	$	(31	)	$	15		$	(16	)(a)	$	—	$	—	$	(16	)(a)

(a) At September 30, 2013, Con Edison and CECONY had margin deposits of $34 million and $14 million, respectively, classified as derivative assets in the balance sheet, but not included in the table. As required by an exchange, a margin is collateral, typically cash, that the holder of a derivative instrument has to deposit in order to transact on an exchange and to cover its potential losses with its broker or the exchange.

The fair values of the Companies’ commodity derivatives including the offsetting of assets and liabilities at December 31, 2012 were:

(Millions of Dollars)
Commodity Derivatives	Gross Amounts of Recognized Assets/ (Liabilities)			Gross Amounts Offset in the Statement of Financial Position			Net Amounts of Assets/ (Liabilities) Presented in the Statement of Financial Position			Gross Amounts Not Offset in the Statement of Financial Position				Net Amount
										Financial instruments		Cash collateral received
Con Edison
Derivative assets	$	86		$	(57	)	$	29	(a)	$	—	$	—	$	29	(a)
Derivative liabilities		(176	)		104			(72	)		—		—		(72	)
Net derivative assets/(liabilities)	$	(90	)	$	47		$	(43	)(a)	$	—	$	—	$	(43	)(a)
CECONY
Derivative assets	$	27		$	(15	)	$	12	(a)	$	—	$	—	$	12	(a)
Derivative liabilities		(83	)		44			(39	)		—		—		(39	)
Net derivative assets/(liabilities)	$	(56	)	$	29		$	(27	)(a)	$	—	$	—	$	(27	)(a)

(a) At December 31, 2012, Con Edison and CECONY had margin deposits of $37 million and $18 million, respectively, classified as derivative assets in the balance sheet, but not included in the table. As required by an exchange, a margin is collateral, typically cash, that the holder of a derivative instrument has to deposit in order to transact on an exchange and to cover its potential losses with its broker or the exchange.

Fair Values of Companies' Commodity Derivatives

The fair values of the Companies’ commodity derivatives at September 30, 2013 were:

(Millions of Dollars)	Fair Value of Commodity Derivatives(a) Balance Sheet Location	Con Edison			CECONY
Derivative Assets
Current	Other current assets	$	55		$	18
Long-term	Other deferred charges and noncurrent assets		25			9
Total derivative assets		$	80		$	27
Impact of netting			(18	)		(4	)
Net derivative assets		$	62		$	23
Derivative Liabilities
Current	Fair value of derivative liabilities	$	71		$	40
Long-term	Fair value of derivative liabilities		53			18
Total derivative liabilities		$	124		$	58
Impact of netting			(74	)		(33	)
Net derivative liabilities		$	50		$	25

(a) Qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts, are not reported at fair value under the accounting rules for derivatives and hedging and, therefore, are excluded from the table.

The fair values of the Companies’ commodity derivatives at December 31, 2012 were:

(Millions of Dollars)	Fair Value of Commodity Derivatives(a) Balance Sheet Location	Con Edison			CECONY
Derivative Assets
Current	Other current assets	$	64		$	18
Long-term	Other deferred charges and noncurrent assets		22			9
Total derivative assets		$	86		$	27
Impact of netting			(20	)		3
Net derivative assets		$	66		$	30
Derivative Liabilities
Current	Fair value of derivative liabilities	$	122		$	58
Long-term	Fair value of derivative liabilities		54			25
Total derivative liabilities		$	176		$	83
Impact of netting			(104	)		(44	)
Net derivative liabilities		$	72		$	39

(a) Qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts, are not reported at fair value under the accounting rules for derivatives and hedging and, therefore, are excluded from the table.

Changes in Fair Values of Commodity Derivatives

The following tables present the changes in the fair values of commodity derivatives that have been deferred or recognized in earnings for the three and nine months ended September 30, 2013:

Realized and Unrealized Gains/(Losses) on Commodity Derivatives(a) Deferred or Recognized in Income for the Three Months Ended September 30, 2013
(Millions of Dollars)	Balance Sheet Location	Con Edison			CECONY
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Current	Deferred derivative gains	$	—		$	—
Long-term	Deferred derivative gains		—			—
Total deferred gains/(losses)		$	—		$	—
Current	Deferred derivative losses	$	11		$	9
Current	Recoverable energy costs		(19	)		(17	)
Long-term	Deferred derivative losses		6			7
Total deferred gains/(losses)		$	(2	)	$	(1	)
Net deferred gains/(losses)		$	(2	)	$	(1	)
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense	$	3	(b)	$	—
	Gas purchased for resale		(6	)		—
	Non-utility revenue		7			—
Total pre-tax gain/(loss) recognized in income		$	4		$	—

(a) Qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts, are not reported at fair value under the accounting rules for derivatives and hedging and, therefore, are excluded from the table.

(b) For the three months ended September 30, 2013, Con Edison recorded in purchased power expense an unrealized pre-tax gain of $6 million.

Realized and Unrealized Gains/(Losses) on Commodity Derivatives(a) Deferred or Recognized in Income for the Nine Months Ended September 30, 2013
(Millions of Dollars)	Balance Sheet Location	Con Edison			CECONY
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Current	Deferred derivative gains		$     1			$     1
Long-term	Deferred derivative gains		—			—
Total deferred gains/(losses)			$     1			$     1
Current	Deferred derivative losses		$   24			$   19
Current	Recoverable energy costs		(22	)		(19	)
Long-term	Deferred derivative losses		3			7
Total deferred gains/(losses)			$     5			$     7
Net deferred gains/(losses)			$     6			$     8
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense		$   32	(b)		$    —
	Gas purchased for resale		(17	)		—
	Non-utility revenue		8			—
Total pre-tax gain/(loss) recognized in income			$   23			$    —

(a) Qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts, are not reported at fair value under the accounting rules for derivatives and hedging and, therefore, are excluded from the table.

(b) For the nine months ended September 30, 2013, Con Edison recorded in purchased power expense an unrealized pre-tax gain of $22 million.

The following tables present the changes in the fair values of commodity derivatives that have been deferred or recognized in earnings for the three and nine months ended September 30, 2012:

Realized and Unrealized Gains/(Losses) on Commodity Derivatives(a) Deferred or Recognized in Income for the Three Months Ended September 30, 2012
(Millions of Dollars)	Balance Sheet Location	Con Edison			CECONY
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Current	Deferred derivative gains		$     5			$     5
Long-term	Deferred derivative gains		1			1
Total deferred gains/(losses)			$     6			$     6
Current	Deferred derivative losses		$   51			$   42
Current	Recoverable energy costs		(60	)		(52	)
Long-term	Deferred derivative losses		22			20
Total deferred gains/(losses)			$   13			$   10
Net deferred gains/(losses)			$   19			$   16
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense		$     9	(b)		$    —
	Gas purchased for resale		—			—
	Non-utility revenue		1			—
Total pre-tax gain/(loss) recognized in income			$   10			$    —

(a) Qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts, are not reported at fair value under the accounting rules for derivatives and hedging and, therefore, are excluded from the table.

(b) For the three months ended September 30, 2012, Con Edison recorded in purchased power expense an unrealized pre-tax gain of $30 million.

Realized and Unrealized Gains/(Losses) on Commodity Derivatives(a) Deferred or Recognized in Income for the Nine Months Ended September 30, 2012
(Millions of Dollars)	Balance Sheet Location	Con Edison			CECONY
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Current	Deferred derivative gains		$     5			$     5
Long-term	Deferred derivative gains		1			1
Total deferred gains/(losses)			$     6			$     6
Current	Deferred derivative losses		$   89			$   78
Current	Recoverable energy costs		(187	)		(164	)
Long-term	Deferred derivative losses		13			19
Total deferred gains/(losses)			$  (85	)		$  (67	)
Net deferred gains/(losses)			$  (79	)		$  (61	)
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense		$  (49	)(b)		$    —
	Gas purchased for resale		(2	)		—
	Non-utility revenue		(11	)(b)		—
Total pre-tax gain/(loss) recognized in income			$  (62	)		$    —

(a) Qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts, are not reported at fair value under the accounting rules for derivatives and hedging and, therefore, are excluded from the table.

(b) For the nine months ended September 30, 2012, Con Edison recorded in non-utility revenues and purchased power expense an unrealized pre-tax gain/(loss) of $(13) million and $75 million, respectively.

Number of Derivative Contracts by Commodity Type

 The following table presents the number of contracts by commodity type:

	Electric Derivatives								Gas Derivatives
	Number of Energy Contracts (a)		MWHs (b)		Number of Capacity Contracts (a)		MWs (b)		Number of Contracts (a)		Dths (b)		Total Number Of Contracts (a)
Con Edison		470		13,643,994		83		11,625		634		79,090,035		1,187
CECONY		82		3,127,600		4		1,200		542		75,470,000		628

(a) Qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts, are not reported at fair value under the accounting rules for derivatives and hedging and, therefore, are excluded from the table.

(b) Volumes are reported net of long and short positions.

Aggregate Fair Value of All Derivative Instruments with Credit-Risk-Related Contingent Features

The aggregate fair value of all derivative instruments with credit-risk-related contingent features that are in a net liability position and collateral posted at September 30, 2013, and the additional collateral that would have been required to be posted had the lowest applicable credit rating been reduced one level and to below investment grade were:

(Millions of Dollars)	Con Edison (a)			CECONY (a)
Aggregate fair value – net liabilities		$31			$25
Collateral posted		$ —			$ —
Additional collateral (b) (downgrade one level from current ratings)		$ —			$ —
Additional collateral (b) (downgrade to below investment grade from current ratings)		$42	(c)		$29	(c)

(a) Non-derivative transactions for the purchase and sale of electricity and gas and qualifying derivative instruments, which have been designated as normal purchases or normal sales, are excluded from the table. These transactions primarily include purchases of electricity from independent system operators. In the event the Utilities and Con Edison’s competitive energy businesses were no longer extended unsecured credit for such purchases, the Companies would be required to post collateral, which at September 30, 2013, would have amounted to an estimated $35 million and $14 million for Con Edison and CECONY, respectively. For certain other such non-derivative transactions, the Companies could be required to post collateral under certain circumstances, including in the event counterparties had reasonable grounds for insecurity.

(b) The Companies measure the collateral requirements by taking into consideration the fair value amounts of derivative instruments that contain credit-risk-related contingent features that are in a net liabilities position plus amounts owed to counterparties for settled transactions and amounts required by counterparties for minimum financial security. The fair value amounts represent unrealized losses, net of any unrealized gains where the Companies have a legally enforceable right of setoff.

(c) Derivative instruments that are net assets have been excluded from the table. At September 30, 2013, if Con Edison had been downgraded to below investment grade, it would have been required to post additional collateral for such derivative instruments of $37 million.

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Derivative Instruments and Hedging Activities - Aggregate Fair Value of All Derivative Instruments with Credit-Risk-Related Contingent Features (Parenthetical) (Detail) (USD $) In Millions, unless otherwise specified	Sep. 30, 2013
Derivatives, Fair Value [Line Items]
Collateral posted
Additional Collateral Required Due To Loss Of Unsecured Credit [Member]
Derivatives, Fair Value [Line Items]
Collateral posted	35
Additional Collateral Aggregate Fair Value Down below Investment Grade [Member]
Derivatives, Fair Value [Line Items]
Collateral posted	37
CECONY [Member]
Derivatives, Fair Value [Line Items]
Collateral posted
CECONY [Member] | Additional Collateral Required Due To Loss Of Unsecured Credit [Member]
Derivatives, Fair Value [Line Items]
Collateral posted	$ 14

XML

Derivative Instruments and Hedging Activities - Fair Values of Commodity Derivatives Including Offsetting of Assets and Liabilities (Parenthetical) (Detail) (USD $) In Millions, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Derivatives, Fair Value [Line Items]
Margin deposits	$ 34	$ 37
CECONY [Member]
Derivatives, Fair Value [Line Items]
Margin deposits	$ 14	$ 18

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Financial Information by Business Segment

9 Months Ended

Sep. 30, 2013

Financial Information by Business Segment

Note J — Financial Information by Business Segment

The financial data for the business segments are as follows:

	For the Three Months Ended September 30,
	Operating revenues				Inter-segment revenues						Depreciation and amortization				Operating income
(Millions of Dollars)	2013		2012		2013			2012			2013		2012		2013			2012
CECONY
Electric	$	2,622	$	2,611	$	4		$	4		$	188	$	179	$	811		$	812
Gas		199		189		1			1			33		31		(24	)		(21	)
Steam		72		68		22			20			16		15		(35	)		(37	)
Consolidation adjustments		—		—		(27	)		(25	)		—		—		—			—
Total CECONY	$	2,893	$	2,868	$	—		$	—		$	237	$	225	$	752		$	754
O&R
Electric	$	200	$	199	$	—		$	—		$	10	$	10	$	46		$	50
Gas		26		27		—			—			4		3		(7	)		(6	)
Total O&R	$	226	$	226	$	—		$	—		$	14	$	13	$	39		$	44
Competitive energy businesses	$	365	$	344	$	—		$	2		$	6	$	2	$	63		$	53
Other*		—		—		—			(2	)		1		—		1			—
Total Con Edison	$	3,484	$	3,438	$	—		$	—		$	258	$	240	$	855		$	851

* Parent company expenses, primarily interest, and consolidation adjustments. Other does not represent a business segment.

	For the Nine Months Ended September 30,
	Operating revenues						Inter-segment revenues						Depreciation and amortization				Operating income
(Millions of Dollars)	2013			2012			2013			2012			2013		2012		2013		2012
CECONY
Electric	$	6,309		$	6,307		$	12		$	11		$	559	$	527	$	1,307	$	1,383
Gas		1,190			1,017			4			4			97		89		272		255
Steam		522			414			60			58			49		48		80		40
Consolidation adjustments		—			—			(76	)		(73	)		—		—		—		—
Total CECONY	$	8,021		$	7,738		$	—		$	—		$	705	$	664	$	1,659	$	1,678
O&R
Electric	$	492		$	457		$	—		$	—		$	31	$	28	$	81	$	74
Gas		143			144			—			—			11		11		20		26
Total O&R	$	635		$	601		$	—		$	—		$	42	$	39	$	101	$	100
Competitive energy businesses	$	834		$	954		$	4		$	6		$	16	$	6	$	7	$	111
Other*		(3	)		(6	)		(4	)		(6	)		1		—		—		(3	)
Total Con Edison	$	9,487		$	9,287		$	—		$	—		$	764	$	709	$	1,767	$	1,886

* Parent company expenses, primarily interest, and consolidation adjustments. Other does not represent a business segment.

CECONY [Member]

Financial Information by Business Segment

Note J — Financial Information by Business Segment

The financial data for the business segments are as follows:

	For the Three Months Ended September 30,
	Operating revenues				Inter-segment revenues						Depreciation and amortization				Operating income
(Millions of Dollars)	2013		2012		2013			2012			2013		2012		2013			2012
CECONY
Electric	$	2,622	$	2,611	$	4		$	4		$	188	$	179	$	811		$	812
Gas		199		189		1			1			33		31		(24	)		(21	)
Steam		72		68		22			20			16		15		(35	)		(37	)
Consolidation adjustments		—		—		(27	)		(25	)		—		—		—			—
Total CECONY	$	2,893	$	2,868	$	—		$	—		$	237	$	225	$	752		$	754
O&R
Electric	$	200	$	199	$	—		$	—		$	10	$	10	$	46		$	50
Gas		26		27		—			—			4		3		(7	)		(6	)
Total O&R	$	226	$	226	$	—		$	—		$	14	$	13	$	39		$	44
Competitive energy businesses	$	365	$	344	$	—		$	2		$	6	$	2	$	63		$	53
Other*		—		—		—			(2	)		1		—		1			—
Total Con Edison	$	3,484	$	3,438	$	—		$	—		$	258	$	240	$	855		$	851

* Parent company expenses, primarily interest, and consolidation adjustments. Other does not represent a business segment.

	For the Nine Months Ended September 30,
	Operating revenues						Inter-segment revenues						Depreciation and amortization				Operating income
(Millions of Dollars)	2013			2012			2013			2012			2013		2012		2013		2012
CECONY
Electric	$	6,309		$	6,307		$	12		$	11		$	559	$	527	$	1,307	$	1,383
Gas		1,190			1,017			4			4			97		89		272		255
Steam		522			414			60			58			49		48		80		40
Consolidation adjustments		—			—			(76	)		(73	)		—		—		—		—
Total CECONY	$	8,021		$	7,738		$	—		$	—		$	705	$	664	$	1,659	$	1,678
O&R
Electric	$	492		$	457		$	—		$	—		$	31	$	28	$	81	$	74
Gas		143			144			—			—			11		11		20		26
Total O&R	$	635		$	601		$	—		$	—		$	42	$	39	$	101	$	100
Competitive energy businesses	$	834		$	954		$	4		$	6		$	16	$	6	$	7	$	111
Other*		(3	)		(6	)		(4	)		(6	)		1		—		—		(3	)
Total Con Edison	$	9,487		$	9,287		$	—		$	—		$	764	$	709	$	1,767	$	1,886

* Parent company expenses, primarily interest, and consolidation adjustments. Other does not represent a business segment.

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Other Postretirement Benefits

9 Months Ended

Sep. 30, 2013

Other Postretirement Benefits

Note F — Other Postretirement Benefits

Net Periodic Benefit Cost

The components of the Companies’ net periodic postretirement benefit costs for the three and nine months ended September 30, 2013 and 2012 were as follows:

	For the Three Months Ended September 30,
	Con Edison						CECONY
(Millions of Dollars)	2013			2012			2013			2012
Service cost		$   6			$   6			$   5			$   5
Interest cost on accumulated other postretirement benefit obligation		13			18			12			16
Expected return on plan assets		(19	)		(21	)		(17	)		(19	)
Recognition of net actuarial loss		16			24			14			22
Recognition of prior service cost		(7	)		(5	)		(6	)		(4	)
NET PERIODIC POSTRETIREMENT BENEFIT COST		$   9			$ 22			$   8			$ 20
Cost capitalized		(3	)		(8	)		(3	)		(7	)
Reconciliation to rate level		14			3			12			3
Cost charged to operating expenses		$ 20			$ 17			$ 17			$ 16

	For the Nine Months Ended September 30,
	Con Edison						CECONY
(Millions of Dollars)	2013			2012			2013			2012
Service cost		$ 18			$  20			$ 14			$ 15
Interest cost on accumulated other postretirement benefit obligation		40			55			34			48
Expected return on plan assets		(58	)		(64	)		(51	)		(56	)
Recognition of net actuarial loss		48			73			43			65
Recognition of prior service cost		(20	)		(16	)		(17	)		(13	)
Recognition of transition obligation		—			1			—			1
NET PERIODIC POSTRETIREMENT BENEFIT COST		$ 28			$  69			$ 23			$ 60
Cost capitalized		(10	)		(24	)		(9	)		(20	)
Reconciliation to rate level		43			15			37			12
Cost charged to operating expenses		$ 61			$  60			$ 51			$ 52

Contributions

Con Edison made a contribution of $9 million, nearly all of which is for CECONY, to the other postretirement benefit plans in 2013.

CECONY [Member]

Other Postretirement Benefits

Note F — Other Postretirement Benefits

Net Periodic Benefit Cost

The components of the Companies’ net periodic postretirement benefit costs for the three and nine months ended September 30, 2013 and 2012 were as follows:

	For the Three Months Ended September 30,
	Con Edison						CECONY
(Millions of Dollars)	2013			2012			2013			2012
Service cost		$   6			$   6			$   5			$   5
Interest cost on accumulated other postretirement benefit obligation		13			18			12			16
Expected return on plan assets		(19	)		(21	)		(17	)		(19	)
Recognition of net actuarial loss		16			24			14			22
Recognition of prior service cost		(7	)		(5	)		(6	)		(4	)
NET PERIODIC POSTRETIREMENT BENEFIT COST		$   9			$ 22			$   8			$ 20
Cost capitalized		(3	)		(8	)		(3	)		(7	)
Reconciliation to rate level		14			3			12			3
Cost charged to operating expenses		$ 20			$ 17			$ 17			$ 16

	For the Nine Months Ended September 30,
	Con Edison						CECONY
(Millions of Dollars)	2013			2012			2013			2012
Service cost		$ 18			$  20			$ 14			$ 15
Interest cost on accumulated other postretirement benefit obligation		40			55			34			48
Expected return on plan assets		(58	)		(64	)		(51	)		(56	)
Recognition of net actuarial loss		48			73			43			65
Recognition of prior service cost		(20	)		(16	)		(17	)		(13	)
Recognition of transition obligation		—			1			—			1
NET PERIODIC POSTRETIREMENT BENEFIT COST		$ 28			$  69			$ 23			$ 60
Cost capitalized		(10	)		(24	)		(9	)		(20	)
Reconciliation to rate level		43			15			37			12
Cost charged to operating expenses		$ 61			$  60			$ 51			$ 52

Contributions

Con Edison made a contribution of $9 million, nearly all of which is for CECONY, to the other postretirement benefit plans in 2013.

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Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Parenthetical) (Detail) (USD $) In Millions, unless otherwise specified	12 Months Ended	3 Months Ended
	Dec. 31, 2012	Mar. 31, 2012 Interest rate contract [Member]	Mar. 31, 2012 Con Edison [Member] Other assets [Member]	Mar. 31, 2012 CECONY [Member] Other assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement assets, transfers from Level 3 to Level 2			$ 105	$ 95
Fair value measurement liabilities, transfers from Level 1 to Level 2	2
Fair value measurement liabilities, transfers from Level 2 to Level 1	9
Fair value measurement liabilities, transfers from Level 2 to Level 3	2
Fair value measurement liabilities, transfers from Level 3 to Level 2	$ 11	$ 8

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Variable Interest Entities

9 Months Ended

Sep. 30, 2013

Variable Interest Entities

Note M — Variable Interest Entities

Con Edison has variable interests in Copper Mountain Solar 2 Holdings, LLC (CMS 2) and Mesquite Solar 1 Holdings, LLC (MS 1), non-consolidated entities in which Con Edison Development purchased a 50 percent membership interest in July and September 2013, respectively. CMS 2 owns a project company that is developing a 150 MW (AC) solar energy project (with 92 MW currently in service) in Nevada. MS 1 owns a project company that owns a 150 MW (AC) solar energy project in Arizona. Electricity generated by the projects is sold to Pacific Gas and Electric Company pursuant to long-term power purchase agreements. Con Edison is not the primary beneficiary of these variable interest entities since the power to direct the activities that most significantly impact the economics of CMS 2 and MS 1 is shared equally between Con Edison Development and a third party. At September 30, 2013, Con Edison’s consolidated balance sheet includes $76 million and $104 million in investments (including earnings) related to CMS 2 and MS 1, respectively, which assessed in accordance with the accounting rules for variable interest entities, is Con Edison’s current maximum exposure to loss in the entities. In addition, Con Edison and Con Edison Development have issued certain guarantees to third parties in connection with the CMS 2 and MS 1 projects. See “Guarantees” in Note H.

CECONY [Member]

Variable Interest Entities

Note M — Variable Interest Entities

Con Edison has variable interests in Copper Mountain Solar 2 Holdings, LLC (CMS 2) and Mesquite Solar 1 Holdings, LLC (MS 1), non-consolidated entities in which Con Edison Development purchased a 50 percent membership interest in July and September 2013, respectively. CMS 2 owns a project company that is developing a 150 MW (AC) solar energy project (with 92 MW currently in service) in Nevada. MS 1 owns a project company that owns a 150 MW (AC) solar energy project in Arizona. Electricity generated by the projects is sold to Pacific Gas and Electric Company pursuant to long-term power purchase agreements. Con Edison is not the primary beneficiary of these variable interest entities since the power to direct the activities that most significantly impact the economics of CMS 2 and MS 1 is shared equally between Con Edison Development and a third party. At September 30, 2013, Con Edison’s consolidated balance sheet includes $76 million and $104 million in investments (including earnings) related to CMS 2 and MS 1, respectively, which assessed in accordance with the accounting rules for variable interest entities, is Con Edison’s current maximum exposure to loss in the entities. In addition, Con Edison and Con Edison Development have issued certain guarantees to third parties in connection with the CMS 2 and MS 1 projects. See “Guarantees” in Note H.

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Derivative Instruments and Hedging Activities

9 Months Ended

Sep. 30, 2013

Derivative Instruments and Hedging Activities

Note K – Derivative Instruments and Hedging Activities

Under the accounting rules for derivatives and hedging, derivatives are recognized on the balance sheet at fair value, unless an exception is available under the accounting rules. Certain qualifying derivative contracts have been designated as normal purchases or normal sales contracts. These contracts are not reported at fair value under the accounting rules.

Energy Price Hedging

Con Edison’s subsidiaries hedge market price fluctuations associated with physical purchases and sales of electricity, natural gas, and steam by using derivative instruments including futures, forwards, basis swaps, options, transmission congestion contracts and financial transmission rights contracts.

Effective January 1, 2013, the Companies adopted Accounting Standards Updates (ASUs) No. 2011-11, “Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities” and No. 2013-01, “Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities”. The amendments require the Companies to disclose certain quantitative information concerning financial and derivative instruments that are offset in the balance sheet and a description of the rights of setoff, including the nature of such rights, associated with recognized assets and liabilities that are subject to an enforceable master netting arrangement or similar agreement.

The Companies enter into master agreements for their commodity derivatives. These agreements typically provide setoff in the event of contract termination. In such case, generally the non-defaulting or non-affected party’s payable will be set-off by the other party’s payable. The non-defaulting party will customarily notify the defaulting party within a specific time period and come to an agreement on the early termination amount.

The fair values of the Companies’ commodity derivatives including the offsetting of assets and liabilities at September 30, 2013 were:

(Millions of Dollars)
Commodity Derivatives	Gross Amounts of Recognized Assets/(Liabilities)			Gross Amounts Offset in the Statement of Financial Position			Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position			Gross Amounts Not Offset in the Statement of Financial Position				Net Amount
										Financial instruments		Cash collateral received
Con Edison
Derivative assets	$	80		$	(52	)	$	28	(a)	$	—	$	—	$	28	(a)
Derivative liabilities		(124	)		74			(50	)		—		—		(50	)
Net derivative assets/(liabilities)	$	(44	)	$	22		$	(22	)(a)	$	—	$	—	$	(22	)(a)
CECONY
Derivative assets	$	27		$	(18	)	$	9	(a)	$	—	$	—	$	9	(a)
Derivative liabilities		(58	)		33			(25	)		—		—		(25	)
Net derivative assets/(liabilities)	$	(31	)	$	15		$	(16	)(a)	$	—	$	—	$	(16	)(a)

(a) At September 30, 2013, Con Edison and CECONY had margin deposits of $34 million and $14 million, respectively, classified as derivative assets in the balance sheet, but not included in the table. As required by an exchange, a margin is collateral, typically cash, that the holder of a derivative instrument has to deposit in order to transact on an exchange and to cover its potential losses with its broker or the exchange.

The fair values of the Companies’ commodity derivatives including the offsetting of assets and liabilities at December 31, 2012 were:

(Millions of Dollars)
Commodity Derivatives	Gross Amounts of Recognized Assets/ (Liabilities)			Gross Amounts Offset in the Statement of Financial Position			Net Amounts of Assets/ (Liabilities) Presented in the Statement of Financial Position			Gross Amounts Not Offset in the Statement of Financial Position				Net Amount
										Financial instruments		Cash collateral received
Con Edison
Derivative assets	$	86		$	(57	)	$	29	(a)	$	—	$	—	$	29	(a)
Derivative liabilities		(176	)		104			(72	)		—		—		(72	)
Net derivative assets/(liabilities)	$	(90	)	$	47		$	(43	)(a)	$	—	$	—	$	(43	)(a)
CECONY
Derivative assets	$	27		$	(15	)	$	12	(a)	$	—	$	—	$	12	(a)
Derivative liabilities		(83	)		44			(39	)		—		—		(39	)
Net derivative assets/(liabilities)	$	(56	)	$	29		$	(27	)(a)	$	—	$	—	$	(27	)(a)

(a) At December 31, 2012, Con Edison and CECONY had margin deposits of $37 million and $18 million, respectively, classified as derivative assets in the balance sheet, but not included in the table. As required by an exchange, a margin is collateral, typically cash, that the holder of a derivative instrument has to deposit in order to transact on an exchange and to cover its potential losses with its broker or the exchange.

Credit Exposure

The Companies are exposed to credit risk related to transactions entered into primarily for the various energy supply and hedging activities by the Utilities and the competitive energy businesses. The Companies use credit policies to manage this risk, including an established credit approval process, monitoring of counterparty limits, netting provisions within agreements, collateral or prepayment arrangements, credit insurance and credit default swaps.

At September 30, 2013, Con Edison and CECONY had $110 million and $14 million of credit exposure in connection with energy supply and hedging activities, net of collateral, respectively. Con Edison’s net credit exposure consisted of $42 million with independent system operators, $37 million with commodity exchange brokers, $30 million with investment-grade counterparties and $1 million with non-investment grade or non-rated counterparties. CECONY’s entire net credit exposure was with commodity exchange brokers.

Economic Hedges

The Companies enter into certain derivative instruments that do not qualify or are not designated as hedges under the accounting rules for derivatives and hedging. However, management believes these instruments represent economic hedges that mitigate exposure to fluctuations in commodity prices.

The fair values of the Companies’ commodity derivatives at September 30, 2013 were:

(Millions of Dollars)	Fair Value of Commodity Derivatives(a) Balance Sheet Location	Con Edison			CECONY
Derivative Assets
Current	Other current assets	$	55		$	18
Long-term	Other deferred charges and noncurrent assets		25			9
Total derivative assets		$	80		$	27
Impact of netting			(18	)		(4	)
Net derivative assets		$	62		$	23
Derivative Liabilities
Current	Fair value of derivative liabilities	$	71		$	40
Long-term	Fair value of derivative liabilities		53			18
Total derivative liabilities		$	124		$	58
Impact of netting			(74	)		(33	)
Net derivative liabilities		$	50		$	25

(a) Qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts, are not reported at fair value under the accounting rules for derivatives and hedging and, therefore, are excluded from the table.

The fair values of the Companies’ commodity derivatives at December 31, 2012 were:

(Millions of Dollars)	Fair Value of Commodity Derivatives(a) Balance Sheet Location	Con Edison			CECONY
Derivative Assets
Current	Other current assets	$	64		$	18
Long-term	Other deferred charges and noncurrent assets		22			9
Total derivative assets		$	86		$	27
Impact of netting			(20	)		3
Net derivative assets		$	66		$	30
Derivative Liabilities
Current	Fair value of derivative liabilities	$	122		$	58
Long-term	Fair value of derivative liabilities		54			25
Total derivative liabilities		$	176		$	83
Impact of netting			(104	)		(44	)
Net derivative liabilities		$	72		$	39

(a) Qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts, are not reported at fair value under the accounting rules for derivatives and hedging and, therefore, are excluded from the table.

The Utilities generally recover all of their prudently incurred fuel, purchased power and gas cost, including hedging gains and losses, in accordance with rate provisions approved by the applicable state utility commissions. In accordance with the accounting rules for regulated operations, the Utilities record a regulatory asset or liability to defer recognition of unrealized gains and losses on their electric and gas derivatives. As gains and losses are realized in future periods, they will be recognized as purchased power, gas and fuel costs in the Companies’ consolidated income statements. Con Edison’s competitive energy businesses record realized and unrealized gains and losses on their derivative contracts in earnings in the reporting period in which they occur.

The following tables present the changes in the fair values of commodity derivatives that have been deferred or recognized in earnings for the three and nine months ended September 30, 2013:

Realized and Unrealized Gains/(Losses) on Commodity Derivatives(a) Deferred or Recognized in Income for the Three Months Ended September 30, 2013
(Millions of Dollars)	Balance Sheet Location	Con Edison			CECONY
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Current	Deferred derivative gains	$	—		$	—
Long-term	Deferred derivative gains		—			—
Total deferred gains/(losses)		$	—		$	—
Current	Deferred derivative losses	$	11		$	9
Current	Recoverable energy costs		(19	)		(17	)
Long-term	Deferred derivative losses		6			7
Total deferred gains/(losses)		$	(2	)	$	(1	)
Net deferred gains/(losses)		$	(2	)	$	(1	)
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense	$	3	(b)	$	—
	Gas purchased for resale		(6	)		—
	Non-utility revenue		7			—
Total pre-tax gain/(loss) recognized in income		$	4		$	—

(a) Qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts, are not reported at fair value under the accounting rules for derivatives and hedging and, therefore, are excluded from the table.

(b) For the three months ended September 30, 2013, Con Edison recorded in purchased power expense an unrealized pre-tax gain of $6 million.

Realized and Unrealized Gains/(Losses) on Commodity Derivatives(a) Deferred or Recognized in Income for the Nine Months Ended September 30, 2013
(Millions of Dollars)	Balance Sheet Location	Con Edison			CECONY
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Current	Deferred derivative gains		$     1			$     1
Long-term	Deferred derivative gains		—			—
Total deferred gains/(losses)			$     1			$     1
Current	Deferred derivative losses		$   24			$   19
Current	Recoverable energy costs		(22	)		(19	)
Long-term	Deferred derivative losses		3			7
Total deferred gains/(losses)			$     5			$     7
Net deferred gains/(losses)			$     6			$     8
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense		$   32	(b)		$    —
	Gas purchased for resale		(17	)		—
	Non-utility revenue		8			—
Total pre-tax gain/(loss) recognized in income			$   23			$    —

(a) Qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts, are not reported at fair value under the accounting rules for derivatives and hedging and, therefore, are excluded from the table.

(b) For the nine months ended September 30, 2013, Con Edison recorded in purchased power expense an unrealized pre-tax gain of $22 million.

The following tables present the changes in the fair values of commodity derivatives that have been deferred or recognized in earnings for the three and nine months ended September 30, 2012:

Realized and Unrealized Gains/(Losses) on Commodity Derivatives(a) Deferred or Recognized in Income for the Three Months Ended September 30, 2012
(Millions of Dollars)	Balance Sheet Location	Con Edison			CECONY
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Current	Deferred derivative gains		$     5			$     5
Long-term	Deferred derivative gains		1			1
Total deferred gains/(losses)			$     6			$     6
Current	Deferred derivative losses		$   51			$   42
Current	Recoverable energy costs		(60	)		(52	)
Long-term	Deferred derivative losses		22			20
Total deferred gains/(losses)			$   13			$   10
Net deferred gains/(losses)			$   19			$   16
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense		$     9	(b)		$    —
	Gas purchased for resale		—			—
	Non-utility revenue		1			—
Total pre-tax gain/(loss) recognized in income			$   10			$    —

(a) Qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts, are not reported at fair value under the accounting rules for derivatives and hedging and, therefore, are excluded from the table.

(b) For the three months ended September 30, 2012, Con Edison recorded in purchased power expense an unrealized pre-tax gain of $30 million.

Realized and Unrealized Gains/(Losses) on Commodity Derivatives(a) Deferred or Recognized in Income for the Nine Months Ended September 30, 2012
(Millions of Dollars)	Balance Sheet Location	Con Edison			CECONY
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Current	Deferred derivative gains		$     5			$     5
Long-term	Deferred derivative gains		1			1
Total deferred gains/(losses)			$     6			$     6
Current	Deferred derivative losses		$   89			$   78
Current	Recoverable energy costs		(187	)		(164	)
Long-term	Deferred derivative losses		13			19
Total deferred gains/(losses)			$  (85	)		$  (67	)
Net deferred gains/(losses)			$  (79	)		$  (61	)
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense		$  (49	)(b)		$    —
	Gas purchased for resale		(2	)		—
	Non-utility revenue		(11	)(b)		—
Total pre-tax gain/(loss) recognized in income			$  (62	)		$    —

(a) Qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts, are not reported at fair value under the accounting rules for derivatives and hedging and, therefore, are excluded from the table.

(b) For the nine months ended September 30, 2012, Con Edison recorded in non-utility revenues and purchased power expense an unrealized pre-tax gain/(loss) of $(13) million and $75 million, respectively.

As of September 30, 2013, Con Edison had 1,187 contracts, including 628 CECONY contracts, which were considered to be derivatives under the accounting rules for derivatives and hedging (excluding qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts). The following table presents the number of contracts by commodity type:

	Electric Derivatives								Gas Derivatives
	Number of Energy Contracts (a)		MWHs (b)		Number of Capacity Contracts (a)		MWs (b)		Number of Contracts (a)		Dths (b)		Total Number Of Contracts (a)
Con Edison		470		13,643,994		83		11,625		634		79,090,035		1,187
CECONY		82		3,127,600		4		1,200		542		75,470,000		628

(a) Qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts, are not reported at fair value under the accounting rules for derivatives and hedging and, therefore, are excluded from the table.

(b) Volumes are reported net of long and short positions.

The Companies also enter into electric congestion and gas basis swap contracts to hedge the congestion and transportation charges which are associated with electric and gas contracts and hedged volumes.

The collateral requirements associated with, and settlement of, derivative transactions are included in net cash flows from operating activities in the Companies’ consolidated statement of cash flows. Most derivative instrument contracts contain provisions that may require the Companies to provide collateral on derivative instruments in net liability positions. The amount of collateral to be provided will depend on the fair value of the derivative instruments and the Companies’ credit ratings.

The aggregate fair value of all derivative instruments with credit-risk-related contingent features that are in a net liability position and collateral posted at September 30, 2013, and the additional collateral that would have been required to be posted had the lowest applicable credit rating been reduced one level and to below investment grade were:

(Millions of Dollars)	Con Edison (a)			CECONY (a)
Aggregate fair value – net liabilities		$31			$25
Collateral posted		$ —			$ —
Additional collateral (b) (downgrade one level from current ratings)		$ —			$ —
Additional collateral (b) (downgrade to below investment grade from current ratings)		$42	(c)		$29	(c)

(a) Non-derivative transactions for the purchase and sale of electricity and gas and qualifying derivative instruments, which have been designated as normal purchases or normal sales, are excluded from the table. These transactions primarily include purchases of electricity from independent system operators. In the event the Utilities and Con Edison’s competitive energy businesses were no longer extended unsecured credit for such purchases, the Companies would be required to post collateral, which at September 30, 2013, would have amounted to an estimated $35 million and $14 million for Con Edison and CECONY, respectively. For certain other such non-derivative transactions, the Companies could be required to post collateral under certain circumstances, including in the event counterparties had reasonable grounds for insecurity.

(b) The Companies measure the collateral requirements by taking into consideration the fair value amounts of derivative instruments that contain credit-risk-related contingent features that are in a net liabilities position plus amounts owed to counterparties for settled transactions and amounts required by counterparties for minimum financial security. The fair value amounts represent unrealized losses, net of any unrealized gains where the Companies have a legally enforceable right of setoff.

(c) Derivative instruments that are net assets have been excluded from the table. At September 30, 2013, if Con Edison had been downgraded to below investment grade, it would have been required to post additional collateral for such derivative instruments of $37 million.

Interest Rate Swap

O&R has an interest rate swap pursuant to which it pays a fixed-rate of 6.09 percent and receives a LIBOR-based variable rate. The fair value of this interest rate swap at September 30, 2013 was an unrealized loss of $3 million, which has been included in Con Edison’s consolidated balance sheet as a noncurrent liability/fair value of derivative liabilities and a regulatory asset. The increase in the fair value of the swap for the three and nine months ended September 30, 2013 was $1 million and $3 million, respectively. In the event O&R’s credit rating was downgraded to BBB- or lower by S&P or Baa3 or lower by Moody’s, the swap counterparty could elect to terminate the agreement and, if it did so, the parties would then be required to settle the transaction.

CECONY [Member]

Derivative Instruments and Hedging Activities

Note K – Derivative Instruments and Hedging Activities

Under the accounting rules for derivatives and hedging, derivatives are recognized on the balance sheet at fair value, unless an exception is available under the accounting rules. Certain qualifying derivative contracts have been designated as normal purchases or normal sales contracts. These contracts are not reported at fair value under the accounting rules.

Energy Price Hedging

Con Edison’s subsidiaries hedge market price fluctuations associated with physical purchases and sales of electricity, natural gas, and steam by using derivative instruments including futures, forwards, basis swaps, options, transmission congestion contracts and financial transmission rights contracts.

Effective January 1, 2013, the Companies adopted Accounting Standards Updates (ASUs) No. 2011-11, “Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities” and No. 2013-01, “Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities”. The amendments require the Companies to disclose certain quantitative information concerning financial and derivative instruments that are offset in the balance sheet and a description of the rights of setoff, including the nature of such rights, associated with recognized assets and liabilities that are subject to an enforceable master netting arrangement or similar agreement.

The Companies enter into master agreements for their commodity derivatives. These agreements typically provide setoff in the event of contract termination. In such case, generally the non-defaulting or non-affected party’s payable will be set-off by the other party’s payable. The non-defaulting party will customarily notify the defaulting party within a specific time period and come to an agreement on the early termination amount.

The fair values of the Companies’ commodity derivatives including the offsetting of assets and liabilities at September 30, 2013 were:

(Millions of Dollars)
Commodity Derivatives	Gross Amounts of Recognized Assets/(Liabilities)			Gross Amounts Offset in the Statement of Financial Position			Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position			Gross Amounts Not Offset in the Statement of Financial Position				Net Amount
										Financial instruments		Cash collateral received
Con Edison
Derivative assets	$	80		$	(52	)	$	28	(a)	$	—	$	—	$	28	(a)
Derivative liabilities		(124	)		74			(50	)		—		—		(50	)
Net derivative assets/(liabilities)	$	(44	)	$	22		$	(22	)(a)	$	—	$	—	$	(22	)(a)
CECONY
Derivative assets	$	27		$	(18	)	$	9	(a)	$	—	$	—	$	9	(a)
Derivative liabilities		(58	)		33			(25	)		—		—		(25	)
Net derivative assets/(liabilities)	$	(31	)	$	15		$	(16	)(a)	$	—	$	—	$	(16	)(a)

(a) At September 30, 2013, Con Edison and CECONY had margin deposits of $34 million and $14 million, respectively, classified as derivative assets in the balance sheet, but not included in the table. As required by an exchange, a margin is collateral, typically cash, that the holder of a derivative instrument has to deposit in order to transact on an exchange and to cover its potential losses with its broker or the exchange.

The fair values of the Companies’ commodity derivatives including the offsetting of assets and liabilities at December 31, 2012 were:

(Millions of Dollars)
Commodity Derivatives	Gross Amounts of Recognized Assets/ (Liabilities)			Gross Amounts Offset in the Statement of Financial Position			Net Amounts of Assets/ (Liabilities) Presented in the Statement of Financial Position			Gross Amounts Not Offset in the Statement of Financial Position				Net Amount
										Financial instruments		Cash collateral received
Con Edison
Derivative assets	$	86		$	(57	)	$	29	(a)	$	—	$	—	$	29	(a)
Derivative liabilities		(176	)		104			(72	)		—		—		(72	)
Net derivative assets/(liabilities)	$	(90	)	$	47		$	(43	)(a)	$	—	$	—	$	(43	)(a)
CECONY
Derivative assets	$	27		$	(15	)	$	12	(a)	$	—	$	—	$	12	(a)
Derivative liabilities		(83	)		44			(39	)		—		—		(39	)
Net derivative assets/(liabilities)	$	(56	)	$	29		$	(27	)(a)	$	—	$	—	$	(27	)(a)

(a) At December 31, 2012, Con Edison and CECONY had margin deposits of $37 million and $18 million, respectively, classified as derivative assets in the balance sheet, but not included in the table. As required by an exchange, a margin is collateral, typically cash, that the holder of a derivative instrument has to deposit in order to transact on an exchange and to cover its potential losses with its broker or the exchange.

Credit Exposure

The Companies are exposed to credit risk related to transactions entered into primarily for the various energy supply and hedging activities by the Utilities and the competitive energy businesses. The Companies use credit policies to manage this risk, including an established credit approval process, monitoring of counterparty limits, netting provisions within agreements, collateral or prepayment arrangements, credit insurance and credit default swaps.

At September 30, 2013, Con Edison and CECONY had $110 million and $14 million of credit exposure in connection with energy supply and hedging activities, net of collateral, respectively. Con Edison’s net credit exposure consisted of $42 million with independent system operators, $37 million with commodity exchange brokers, $30 million with investment-grade counterparties and $1 million with non-investment grade or non-rated counterparties. CECONY’s entire net credit exposure was with commodity exchange brokers.

Economic Hedges

The Companies enter into certain derivative instruments that do not qualify or are not designated as hedges under the accounting rules for derivatives and hedging. However, management believes these instruments represent economic hedges that mitigate exposure to fluctuations in commodity prices.

The fair values of the Companies’ commodity derivatives at September 30, 2013 were:

(Millions of Dollars)	Fair Value of Commodity Derivatives(a) Balance Sheet Location	Con Edison			CECONY
Derivative Assets
Current	Other current assets	$	55		$	18
Long-term	Other deferred charges and noncurrent assets		25			9
Total derivative assets		$	80		$	27
Impact of netting			(18	)		(4	)
Net derivative assets		$	62		$	23
Derivative Liabilities
Current	Fair value of derivative liabilities	$	71		$	40
Long-term	Fair value of derivative liabilities		53			18
Total derivative liabilities		$	124		$	58
Impact of netting			(74	)		(33	)
Net derivative liabilities		$	50		$	25

(a) Qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts, are not reported at fair value under the accounting rules for derivatives and hedging and, therefore, are excluded from the table.

The fair values of the Companies’ commodity derivatives at December 31, 2012 were:

(Millions of Dollars)	Fair Value of Commodity Derivatives(a) Balance Sheet Location	Con Edison			CECONY
Derivative Assets
Current	Other current assets	$	64		$	18
Long-term	Other deferred charges and noncurrent assets		22			9
Total derivative assets		$	86		$	27
Impact of netting			(20	)		3
Net derivative assets		$	66		$	30
Derivative Liabilities
Current	Fair value of derivative liabilities	$	122		$	58
Long-term	Fair value of derivative liabilities		54			25
Total derivative liabilities		$	176		$	83
Impact of netting			(104	)		(44	)
Net derivative liabilities		$	72		$	39

(a) Qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts, are not reported at fair value under the accounting rules for derivatives and hedging and, therefore, are excluded from the table.

The Utilities generally recover all of their prudently incurred fuel, purchased power and gas cost, including hedging gains and losses, in accordance with rate provisions approved by the applicable state utility commissions. In accordance with the accounting rules for regulated operations, the Utilities record a regulatory asset or liability to defer recognition of unrealized gains and losses on their electric and gas derivatives. As gains and losses are realized in future periods, they will be recognized as purchased power, gas and fuel costs in the Companies’ consolidated income statements. Con Edison’s competitive energy businesses record realized and unrealized gains and losses on their derivative contracts in earnings in the reporting period in which they occur.

The following tables present the changes in the fair values of commodity derivatives that have been deferred or recognized in earnings for the three and nine months ended September 30, 2013:

Realized and Unrealized Gains/(Losses) on Commodity Derivatives(a) Deferred or Recognized in Income for the Three Months Ended September 30, 2013
(Millions of Dollars)	Balance Sheet Location	Con Edison			CECONY
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Current	Deferred derivative gains	$	—		$	—
Long-term	Deferred derivative gains		—			—
Total deferred gains/(losses)		$	—		$	—
Current	Deferred derivative losses	$	11		$	9
Current	Recoverable energy costs		(19	)		(17	)
Long-term	Deferred derivative losses		6			7
Total deferred gains/(losses)		$	(2	)	$	(1	)
Net deferred gains/(losses)		$	(2	)	$	(1	)
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense	$	3	(b)	$	—
	Gas purchased for resale		(6	)		—
	Non-utility revenue		7			—
Total pre-tax gain/(loss) recognized in income		$	4		$	—

(a) Qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts, are not reported at fair value under the accounting rules for derivatives and hedging and, therefore, are excluded from the table.

(b) For the three months ended September 30, 2013, Con Edison recorded in purchased power expense an unrealized pre-tax gain of $6 million.

Realized and Unrealized Gains/(Losses) on Commodity Derivatives(a) Deferred or Recognized in Income for the Nine Months Ended September 30, 2013
(Millions of Dollars)	Balance Sheet Location	Con Edison			CECONY
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Current	Deferred derivative gains		$     1			$     1
Long-term	Deferred derivative gains		—			—
Total deferred gains/(losses)			$     1			$     1
Current	Deferred derivative losses		$   24			$   19
Current	Recoverable energy costs		(22	)		(19	)
Long-term	Deferred derivative losses		3			7
Total deferred gains/(losses)			$     5			$     7
Net deferred gains/(losses)			$     6			$     8
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense		$   32	(b)		$    —
	Gas purchased for resale		(17	)		—
	Non-utility revenue		8			—
Total pre-tax gain/(loss) recognized in income			$   23			$    —

(a) Qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts, are not reported at fair value under the accounting rules for derivatives and hedging and, therefore, are excluded from the table.

(b) For the nine months ended September 30, 2013, Con Edison recorded in purchased power expense an unrealized pre-tax gain of $22 million.

The following tables present the changes in the fair values of commodity derivatives that have been deferred or recognized in earnings for the three and nine months ended September 30, 2012:

Realized and Unrealized Gains/(Losses) on Commodity Derivatives(a) Deferred or Recognized in Income for the Three Months Ended September 30, 2012
(Millions of Dollars)	Balance Sheet Location	Con Edison			CECONY
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Current	Deferred derivative gains		$     5			$     5
Long-term	Deferred derivative gains		1			1
Total deferred gains/(losses)			$     6			$     6
Current	Deferred derivative losses		$   51			$   42
Current	Recoverable energy costs		(60	)		(52	)
Long-term	Deferred derivative losses		22			20
Total deferred gains/(losses)			$   13			$   10
Net deferred gains/(losses)			$   19			$   16
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense		$     9	(b)		$    —
	Gas purchased for resale		—			—
	Non-utility revenue		1			—
Total pre-tax gain/(loss) recognized in income			$   10			$    —

(a) Qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts, are not reported at fair value under the accounting rules for derivatives and hedging and, therefore, are excluded from the table.

(b) For the three months ended September 30, 2012, Con Edison recorded in purchased power expense an unrealized pre-tax gain of $30 million.

Realized and Unrealized Gains/(Losses) on Commodity Derivatives(a) Deferred or Recognized in Income for the Nine Months Ended September 30, 2012
(Millions of Dollars)	Balance Sheet Location	Con Edison			CECONY
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Current	Deferred derivative gains		$     5			$     5
Long-term	Deferred derivative gains		1			1
Total deferred gains/(losses)			$     6			$     6
Current	Deferred derivative losses		$   89			$   78
Current	Recoverable energy costs		(187	)		(164	)
Long-term	Deferred derivative losses		13			19
Total deferred gains/(losses)			$  (85	)		$  (67	)
Net deferred gains/(losses)			$  (79	)		$  (61	)
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense		$  (49	)(b)		$    —
	Gas purchased for resale		(2	)		—
	Non-utility revenue		(11	)(b)		—
Total pre-tax gain/(loss) recognized in income			$  (62	)		$    —

(a) Qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts, are not reported at fair value under the accounting rules for derivatives and hedging and, therefore, are excluded from the table.

(b) For the nine months ended September 30, 2012, Con Edison recorded in non-utility revenues and purchased power expense an unrealized pre-tax gain/(loss) of $(13) million and $75 million, respectively.

As of September 30, 2013, Con Edison had 1,187 contracts, including 628 CECONY contracts, which were considered to be derivatives under the accounting rules for derivatives and hedging (excluding qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts). The following table presents the number of contracts by commodity type:

	Electric Derivatives								Gas Derivatives
	Number of Energy Contracts (a)		MWHs (b)		Number of Capacity Contracts (a)		MWs (b)		Number of Contracts (a)		Dths (b)		Total Number Of Contracts (a)
Con Edison		470		13,643,994		83		11,625		634		79,090,035		1,187
CECONY		82		3,127,600		4		1,200		542		75,470,000		628

(a) Qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts, are not reported at fair value under the accounting rules for derivatives and hedging and, therefore, are excluded from the table.

(b) Volumes are reported net of long and short positions.

The Companies also enter into electric congestion and gas basis swap contracts to hedge the congestion and transportation charges which are associated with electric and gas contracts and hedged volumes.

The collateral requirements associated with, and settlement of, derivative transactions are included in net cash flows from operating activities in the Companies’ consolidated statement of cash flows. Most derivative instrument contracts contain provisions that may require the Companies to provide collateral on derivative instruments in net liability positions. The amount of collateral to be provided will depend on the fair value of the derivative instruments and the Companies’ credit ratings.

The aggregate fair value of all derivative instruments with credit-risk-related contingent features that are in a net liability position and collateral posted at September 30, 2013, and the additional collateral that would have been required to be posted had the lowest applicable credit rating been reduced one level and to below investment grade were:

(Millions of Dollars)	Con Edison (a)			CECONY (a)
Aggregate fair value – net liabilities		$31			$25
Collateral posted		$ —			$ —
Additional collateral (b) (downgrade one level from current ratings)		$ —			$ —
Additional collateral (b) (downgrade to below investment grade from current ratings)		$42	(c)		$29	(c)

(a) Non-derivative transactions for the purchase and sale of electricity and gas and qualifying derivative instruments, which have been designated as normal purchases or normal sales, are excluded from the table. These transactions primarily include purchases of electricity from independent system operators. In the event the Utilities and Con Edison’s competitive energy businesses were no longer extended unsecured credit for such purchases, the Companies would be required to post collateral, which at September 30, 2013, would have amounted to an estimated $35 million and $14 million for Con Edison and CECONY, respectively. For certain other such non-derivative transactions, the Companies could be required to post collateral under certain circumstances, including in the event counterparties had reasonable grounds for insecurity.

(b) The Companies measure the collateral requirements by taking into consideration the fair value amounts of derivative instruments that contain credit-risk-related contingent features that are in a net liabilities position plus amounts owed to counterparties for settled transactions and amounts required by counterparties for minimum financial security. The fair value amounts represent unrealized losses, net of any unrealized gains where the Companies have a legally enforceable right of setoff.

(c) Derivative instruments that are net assets have been excluded from the table. At September 30, 2013, if Con Edison had been downgraded to below investment grade, it would have been required to post additional collateral for such derivative instruments of $37 million.

Interest Rate Swap

O&R has an interest rate swap pursuant to which it pays a fixed-rate of 6.09 percent and receives a LIBOR-based variable rate. The fair value of this interest rate swap at September 30, 2013 was an unrealized loss of $3 million, which has been included in Con Edison’s consolidated balance sheet as a noncurrent liability/fair value of derivative liabilities and a regulatory asset. The increase in the fair value of the swap for the three and nine months ended September 30, 2013 was $1 million and $3 million, respectively. In the event O&R’s credit rating was downgraded to BBB- or lower by S&P or Baa3 or lower by Moody’s, the swap counterparty could elect to terminate the agreement and, if it did so, the parties would then be required to settle the transaction.

XML

Document and Entity Information	9 Months Ended
	Sep. 30, 2013	Oct. 30, 2013
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2013
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	Q3
Trading Symbol	ED
Entity Registrant Name	CONSOLIDATED EDISON INC
Entity Central Index Key	0001047862
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		292,888,192
Consolidated Edison Co of New York Inc [Member]
Document Information [Line Items]
Entity Registrant Name	CONSOLIDATED EDISON CO OF NEW YORK INC
Entity Central Index Key	0000023632
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer

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Fair Value Measurements

9 Months Ended

Sep. 30, 2013

Fair Value Measurements

Note L — Fair Value Measurements

The accounting rules for fair value measurements and disclosures define fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date in a principal or most advantageous market. Fair value is a market-based measurement that is determined based on inputs, which refer broadly to assumptions that market participants use in pricing assets or liabilities. These inputs can be readily observable, market corroborated, or generally unobservable firm inputs. The Companies often make certain assumptions that market participants would use in pricing the asset or liability, including assumptions about risk, and the risks inherent in the inputs to valuation techniques. The Companies use valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs.

The accounting rules for fair value measurements and disclosures established a fair value hierarchy, which prioritizes the inputs to valuation techniques used to measure fair value in three broad levels. The rules require that assets and liabilities be classified in their entirety based on the level of input that is significant to the fair value measurement. Assessing the significance of a particular input may require judgment considering factors specific to the asset or liability, and may affect the valuation of the asset or liability and their placement within the fair value hierarchy. The Companies classify fair value balances based on the fair value hierarchy defined by the accounting rules for fair value measurements and disclosures as follows:

• Level 1 – Consists of assets or liabilities whose value is based on unadjusted quoted prices in active markets at the measurement date. An active market is one in which transactions for assets or liabilities occur with sufficient frequency and volume to provide pricing information on an ongoing basis. This category includes contracts traded on active exchange markets valued using unadjusted prices quoted directly from the exchange.

• Level 2 – Consists of assets or liabilities valued using industry standard models and based on prices, other than quoted prices within Level 1, that are either directly or indirectly observable as of the measurement date. The industry standard models consider observable assumptions including time value, volatility factors, and current market and contractual prices for the underlying commodities, in addition to other economic measures. This category includes contracts traded on active exchanges or in over-the-counter markets priced with industry standard models.

• Level 3 – Consists of assets or liabilities whose fair value is estimated based on internally developed models or methodologies using inputs that are generally less readily observable and supported by little, if any, market activity at the measurement date. Unobservable inputs are developed based on the best available information and subject to cost benefit constraints. This category includes contracts priced using models that are internally developed and contracts placed in illiquid markets. It also includes contracts that expire after the period of time for which quoted prices are available and internal models are used to determine a significant portion of the value.

Assets and liabilities measured at fair value on a recurring basis as of September 30, 2013 are summarized below.

	Level 1				Level 2				Level 3				Netting Adjustments(d)				Total
(Millions of Dollars)	Con Edison		CECONY		Con Edison		CECONY		Con Edison		CECONY		Con Edison		CECONY		Con Edison		CECONY
Derivative assets:
Commodity (a)(e)	$	1	$	1	$	52	$	6	$	9	$	8	$	—	$	8	$	62	$	23
Other assets (c)(e)		129		122		108		98		—		—		—		—		237		220
Total	$	130	$	123	$	160	$	104	$	9	$	8	$	—	$	8	$	299	$	243
Derivative liabilities:
Commodity (a)(e)	$	9	$	9	$	74	$	37	$	23	$	—	$	(56)	$	(21)	$	50	$	25
Interest rate contract (b)(e)		—		—		3		—		—		—		—		—		3		—
Total	$	9	$	9	$	77	$	37	$	23	$	—	$	(56)	$	(21)	$	53	$	25

(a) A portion of the commodity derivatives categorized in Level 3 is valued using an internally developed model with observable inputs. The models also include some less readily observable inputs resulting in the classification of the entire contract as Level 3. See Note K.

(b) See Note K.

(c) Other assets are comprised of assets such as life insurance contracts within the deferred compensation plan and non-qualified retirement plans.

(d) Amounts represent the impact of legally-enforceable master netting agreements that allow the Companies to net gain and loss positions and cash collateral held or placed with the same counterparties.

(e) The Companies’ policy is to recognize transfers into and transfers out of the levels at the end of the reporting period. There were no transfers between levels 1, 2, and 3 for the nine months ended September 30, 2013.

Assets and liabilities measured at fair value on a recurring basis as of December 31, 2012 are summarized below.

	Level 1				Level 2				Level 3				Netting Adjustments(d)						Total
(Millions of Dollars)	Con Edison		CECONY		Con Edison		CECONY		Con Edison		CECONY		Con Edison			CECONY			Con Edison		CECONY
Derivative assets:
Commodity (a)(e)	$	—	$	—	$	43	$	8	$	33	$	10		$(10	)		$12		$	66	$	30
Other assets (c)(e)(f)		106		99		107		98		—		—		—			—			213		197
Total	$	106	$	99	$	150	$	106	$	33	$	10		$(10	)		$12		$	279	$	227
Derivative liabilities:
Commodity (a)(e)(h)	$	12	$	12	$	116	$	62	$	38	$	—		$(94	)		$(35	)	$	72	$	39
Interest rate contract (b)(e)(g)		—		—		6		—		—		—		—			—			6		—
Total	$	12	$	12	$	122	$	62	$	38	$	—		$(94	)		$(35	)	$	78	$	39

(a) A significant portion of the commodity derivative contracts categorized in Level 3 is valued using either an industry acceptable model or an internally developed model with observable inputs. The models also include some less readily observable inputs resulting in the classification of the entire contract as Level 3. See Note K.

(b) See Note K.

(c) Other assets are comprised of assets such as life insurance contracts within the deferred compensation plan and non-qualified retirement plans.

(d) Amounts represent the impact of legally-enforceable master netting agreements that allow the Companies to net gain and loss positions and cash collateral held or placed with the same counterparties.

(e) The Companies’ policy is to recognize transfers into and transfers out of the levels at the end of the reporting period.

(f) On March 31, 2012, other assets of $105 million for Con Edison and $95 million for CECONY were transferred from Level 3 to Level 2 because of reassessment of the levels in the fair value hierarchy within which certain inputs fall as of March 31, 2012.

(g) On March 31, 2012, interest rate contract of $8 million was transferred from Level 3 to Level 2 because of reassessment of the levels in the fair value hierarchy within which certain inputs fall.

(h) During 2012, Con Edison transferred commodity derivative contract liabilities of $2 million from Level 1 to Level 2, $9 million from Level 2 to Level 1, $2 million from Level 2 to Level 3, and $11 million from Level 3 to Level 2 because of reassessment of the levels in the fair value hierarchy within which certain inputs fall.

The employees in the risk management groups of the Utilities and the competitive energy businesses develop and maintain the Companies’ valuation policies and procedures for, and verify pricing and fair value valuation of, commodity derivatives. Under the Companies’ policies and procedures, multiple independent sources of information are obtained for forward price curves used to value commodity derivatives. Fair value and changes in fair value of commodity derivatives are reported on a monthly basis to the Companies’ risk committees, comprised of officers and employees of the Companies that oversee energy hedging at the Utilities and the competitive energy businesses. The managers of the risk management groups report to the Companies’ Vice President and Treasurer.

	Fair Value of Level 3 at September 30, 2013 (Millions of Dollars)				Valuation Techniques	Unobservable Inputs	Range
Con Edison—Commodity
Electricity		$	(6	)	Discounted Cash Flow	Forward energy prices (a)	$24-$99 per MWH
Standard Offer Capacity Agreements			(17	)	Discounted Cash Flow	Forward capacity prices (a) Present value factor (a)	$119-$248 MW -day 2.64%
Transmission Congestion Contracts / Financial Transmission Rights			9		Discounted Cash Flow	Discount to adjust auction prices for inter-zonal forward price curves (b)	(5.8)%-42.4%
						Discount to adjust auction prices for historical monthly realized settlements (b)	(102.4)%-49.2%
						Inter-zonal forward price curves adjusted for historical zonal losses (b)	$1.56-$2.16
Total Con Edison—Commodity		$	(14	)
CECONY— Commodity
Transmission Congestion Contracts		$	8		Discounted Cash Flow	Discount to adjust auction prices for inter-zonal forward price curves (b)	(5.8)%-42.4%
						Discount to adjust auction prices for historical monthly realized settlements (b)	(102.4)%-49.2%

(a) Generally, increases/(decreases) in this input in isolation would result in a higher/(lower) fair value measurement.

(b) Generally, increases/(decreases) in this input in isolation would result in a lower/(higher) fair value measurement.

The table listed below provides a reconciliation of the beginning and ending net balances for assets and liabilities measured at fair value as of September 30, 2013 and 2012 and classified as Level 3 in the fair value hierarchy:

	For Three Months Ended September 30, 2013
				Total Gains/(Losses)— Realized and Unrealized
(Millions of Dollars)	Beginning Balance as of July 1, 2013			Included in Earnings			Included in Regulatory Assets and Liabilities		Purchases		Issuances		Sales		Settlements		Transfer In/Out of Level 3		Ending Balance as of September 30, 2013
Con Edison
Derivatives:
Commodity	$	(6	)	$	(3	)	$	(2)	$	5	$	—	$	—	$	(8)	$	—	$	(14	)
CECONY
Derivatives:
Commodity	$	8		$	2		$	(1)	$	5	$	—	$	—	$	(6)	$	—	$	8

	For Nine Months Ended September 30, 2013
				Total Gains/(Losses)— Realized and Unrealized
(Millions of Dollars)	Beginning Balance as of January 1, 2013			Included in Earnings		Included in Regulatory Assets and Liabilities		Purchases		Issuances		Sales		Settlements		Transfer In/Out of Level 3		Ending Balance as of September 30, 2013
Con Edison
Derivatives:
Commodity	$	(5	)	$	5	$	1	$	12	$	—	$	—	$	(27)	$	—	$	(14	)
CECONY
Derivatives:
Commodity	$	10		$	9	$	—	$	10	$	—	$	—	$	(21)	$	—	$	8

	For the Three Months Ended September 30, 2012
			Total Gains/(Losses)— Realized and Unrealized
(Millions of Dollars)	Beginning Balance as of July 1, 2012		Included in Earnings		Included in Regulatory Assets and Liabilities		Purchases		Issuances		Sales		Settlements		Transfer In/Out of Level 3		Ending Balance as of September 30, 2012
Con Edison
Derivatives:
Commodity	$	(61)	$	(15)	$	19	$	7	$	—	$	—	$	25	$	22	$	(3	)
CECONY
Derivatives:
Commodity	$	(10)	$	(9)	$	8	$	7	$	—	$	—	$	5	$	11	$	12

	For the Nine Months Ended September 30, 2012
				Total Gains/(Losses)— Realized and Unrealized
(Millions of Dollars)	Beginning Balance as of January 1, 2012			Included in Earnings			Included in Regulatory Assets and Liabilities		Purchases		Issuances		Sales		Settlements		Transfer In/Out of Level 3			Ending Balance as of September 30, 2012
Con Edison
Derivatives:
Commodity	$	(62	)	$	(97	)	$	11	$	18	$	—	$	—	$	106	$	21		$	(3	)
Interest rate contract		(8	)		(1	)		—		—		—		—		1		8	(b)		—
Other assets(a)		99			3			3		—		—		—		—		(105	)(b)		—
Total	$	29		$	(95	)	$	14	$	18	$	—	$	—	$	107	$	(76	)	$	(3	)
CECONY
Derivatives:
Commodity	$	(7	)	$	(25	)	$	8	$	15	$	—	$	—	$	12	$	9	(b)	$	12
Other assets(a)		90			3			2		—		—		—		—		(95	)(b)		—
Total	$	83		$	(22	)	$	10	$	15	$	—	$	—	$	12	$	(86	)	$	12

(a) Amounts included in earnings are reported in investment and other income on the consolidated income statement.

(b) Other assets and interest rate contract were transferred as of March 31, 2012.

For the Utilities, realized gains and losses on Level 3 commodity derivative assets and liabilities are reported as part of purchased power, gas and fuel costs. The Utilities generally recover these costs in accordance with rate provisions approved by the applicable state public utilities commissions. Unrealized gains and losses for commodity derivatives are generally deferred on the consolidated balance sheet in accordance with the accounting rules for regulated operations.

For the competitive energy businesses, realized and unrealized gains and losses on Level 3 commodity derivative assets and liabilities are reported in non-utility revenues (immaterial and $2 million loss) and purchased power costs ($4 million loss and $2 million gain) on the consolidated income statement for the three months ended September 30, 2013 and 2012, respectively. Realized and unrealized gains and losses on Level 3 commodity derivative assets and liabilities are reported in non-utility revenues ($2 million loss and $11 million loss) and purchased power costs (immaterial and $42 million loss) on the consolidated income statement for the nine months ended September 30, 2013 and 2012, respectively. The change in fair value relating to Level 3 commodity derivative assets and liabilities held at September 30, 2013 and 2012 is included in non-utility revenues (immaterial and $2 million loss) and purchased power costs ($5 million loss and $16 million gain) on the consolidated income statement for the three months ended September 30, 2013 and 2012, respectively. For the nine months ended September 30, 2013 and 2012, the change in fair value relating to Level 3 commodity derivative assets and liabilities is included in non-utility revenues ($2 million loss and $11 million loss) and purchased power costs ($3 million loss and $40 million gain) on the consolidated income statement, respectively.

The accounting rules for fair value measurements and disclosures require consideration of the impact of nonperformance risk (including credit risk) from a market participant perspective in the measurement of the fair value of assets and liabilities. At September 30, 2013, the Companies determined that nonperformance risk would have no material impact on their financial position or results of operations. To assess nonperformance risk, the Companies considered information such as collateral requirements, master netting arrangements, letters of credit and parent company guarantees, and applied a market-based method by using the counterparty (for an asset) or the Companies’ (for a liability) credit default swaps rates.

CECONY [Member]

Fair Value Measurements

Note L — Fair Value Measurements

The accounting rules for fair value measurements and disclosures define fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date in a principal or most advantageous market. Fair value is a market-based measurement that is determined based on inputs, which refer broadly to assumptions that market participants use in pricing assets or liabilities. These inputs can be readily observable, market corroborated, or generally unobservable firm inputs. The Companies often make certain assumptions that market participants would use in pricing the asset or liability, including assumptions about risk, and the risks inherent in the inputs to valuation techniques. The Companies use valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs.

The accounting rules for fair value measurements and disclosures established a fair value hierarchy, which prioritizes the inputs to valuation techniques used to measure fair value in three broad levels. The rules require that assets and liabilities be classified in their entirety based on the level of input that is significant to the fair value measurement. Assessing the significance of a particular input may require judgment considering factors specific to the asset or liability, and may affect the valuation of the asset or liability and their placement within the fair value hierarchy. The Companies classify fair value balances based on the fair value hierarchy defined by the accounting rules for fair value measurements and disclosures as follows:

• Level 1 – Consists of assets or liabilities whose value is based on unadjusted quoted prices in active markets at the measurement date. An active market is one in which transactions for assets or liabilities occur with sufficient frequency and volume to provide pricing information on an ongoing basis. This category includes contracts traded on active exchange markets valued using unadjusted prices quoted directly from the exchange.

• Level 2 – Consists of assets or liabilities valued using industry standard models and based on prices, other than quoted prices within Level 1, that are either directly or indirectly observable as of the measurement date. The industry standard models consider observable assumptions including time value, volatility factors, and current market and contractual prices for the underlying commodities, in addition to other economic measures. This category includes contracts traded on active exchanges or in over-the-counter markets priced with industry standard models.

• Level 3 – Consists of assets or liabilities whose fair value is estimated based on internally developed models or methodologies using inputs that are generally less readily observable and supported by little, if any, market activity at the measurement date. Unobservable inputs are developed based on the best available information and subject to cost benefit constraints. This category includes contracts priced using models that are internally developed and contracts placed in illiquid markets. It also includes contracts that expire after the period of time for which quoted prices are available and internal models are used to determine a significant portion of the value.

Assets and liabilities measured at fair value on a recurring basis as of September 30, 2013 are summarized below.

	Level 1				Level 2				Level 3				Netting Adjustments(d)				Total
(Millions of Dollars)	Con Edison		CECONY		Con Edison		CECONY		Con Edison		CECONY		Con Edison		CECONY		Con Edison		CECONY
Derivative assets:
Commodity (a)(e)	$	1	$	1	$	52	$	6	$	9	$	8	$	—	$	8	$	62	$	23
Other assets (c)(e)		129		122		108		98		—		—		—		—		237		220
Total	$	130	$	123	$	160	$	104	$	9	$	8	$	—	$	8	$	299	$	243
Derivative liabilities:
Commodity (a)(e)	$	9	$	9	$	74	$	37	$	23	$	—	$	(56)	$	(21)	$	50	$	25
Interest rate contract (b)(e)		—		—		3		—		—		—		—		—		3		—
Total	$	9	$	9	$	77	$	37	$	23	$	—	$	(56)	$	(21)	$	53	$	25

(a) A portion of the commodity derivatives categorized in Level 3 is valued using an internally developed model with observable inputs. The models also include some less readily observable inputs resulting in the classification of the entire contract as Level 3. See Note K.

(b) See Note K.

(c) Other assets are comprised of assets such as life insurance contracts within the deferred compensation plan and non-qualified retirement plans.

(d) Amounts represent the impact of legally-enforceable master netting agreements that allow the Companies to net gain and loss positions and cash collateral held or placed with the same counterparties.

(e) The Companies’ policy is to recognize transfers into and transfers out of the levels at the end of the reporting period. There were no transfers between levels 1, 2, and 3 for the nine months ended September 30, 2013.

Assets and liabilities measured at fair value on a recurring basis as of December 31, 2012 are summarized below.

	Level 1				Level 2				Level 3				Netting Adjustments(d)						Total
(Millions of Dollars)	Con Edison		CECONY		Con Edison		CECONY		Con Edison		CECONY		Con Edison			CECONY			Con Edison		CECONY
Derivative assets:
Commodity (a)(e)	$	—	$	—	$	43	$	8	$	33	$	10		$(10	)		$12		$	66	$	30
Other assets (c)(e)(f)		106		99		107		98		—		—		—			—			213		197
Total	$	106	$	99	$	150	$	106	$	33	$	10		$(10	)		$12		$	279	$	227
Derivative liabilities:
Commodity (a)(e)(h)	$	12	$	12	$	116	$	62	$	38	$	—		$(94	)		$(35	)	$	72	$	39
Interest rate contract (b)(e)(g)		—		—		6		—		—		—		—			—			6		—
Total	$	12	$	12	$	122	$	62	$	38	$	—		$(94	)		$(35	)	$	78	$	39

(a) A significant portion of the commodity derivative contracts categorized in Level 3 is valued using either an industry acceptable model or an internally developed model with observable inputs. The models also include some less readily observable inputs resulting in the classification of the entire contract as Level 3. See Note K.

(b) See Note K.

(c) Other assets are comprised of assets such as life insurance contracts within the deferred compensation plan and non-qualified retirement plans.

(d) Amounts represent the impact of legally-enforceable master netting agreements that allow the Companies to net gain and loss positions and cash collateral held or placed with the same counterparties.

(e) The Companies’ policy is to recognize transfers into and transfers out of the levels at the end of the reporting period.

(f) On March 31, 2012, other assets of $105 million for Con Edison and $95 million for CECONY were transferred from Level 3 to Level 2 because of reassessment of the levels in the fair value hierarchy within which certain inputs fall as of March 31, 2012.

(g) On March 31, 2012, interest rate contract of $8 million was transferred from Level 3 to Level 2 because of reassessment of the levels in the fair value hierarchy within which certain inputs fall.

(h) During 2012, Con Edison transferred commodity derivative contract liabilities of $2 million from Level 1 to Level 2, $9 million from Level 2 to Level 1, $2 million from Level 2 to Level 3, and $11 million from Level 3 to Level 2 because of reassessment of the levels in the fair value hierarchy within which certain inputs fall.

The employees in the risk management groups of the Utilities and the competitive energy businesses develop and maintain the Companies’ valuation policies and procedures for, and verify pricing and fair value valuation of, commodity derivatives. Under the Companies’ policies and procedures, multiple independent sources of information are obtained for forward price curves used to value commodity derivatives. Fair value and changes in fair value of commodity derivatives are reported on a monthly basis to the Companies’ risk committees, comprised of officers and employees of the Companies that oversee energy hedging at the Utilities and the competitive energy businesses. The managers of the risk management groups report to the Companies’ Vice President and Treasurer.

	Fair Value of Level 3 at September 30, 2013 (Millions of Dollars)				Valuation Techniques	Unobservable Inputs	Range
Con Edison—Commodity
Electricity		$	(6	)	Discounted Cash Flow	Forward energy prices (a)	$24-$99 per MWH
Standard Offer Capacity Agreements			(17	)	Discounted Cash Flow	Forward capacity prices (a) Present value factor (a)	$119-$248 MW -day 2.64%
Transmission Congestion Contracts / Financial Transmission Rights			9		Discounted Cash Flow	Discount to adjust auction prices for inter-zonal forward price curves (b)	(5.8)%-42.4%
						Discount to adjust auction prices for historical monthly realized settlements (b)	(102.4)%-49.2%
						Inter-zonal forward price curves adjusted for historical zonal losses (b)	$1.56-$2.16
Total Con Edison—Commodity		$	(14	)
CECONY— Commodity
Transmission Congestion Contracts		$	8		Discounted Cash Flow	Discount to adjust auction prices for inter-zonal forward price curves (b)	(5.8)%-42.4%
						Discount to adjust auction prices for historical monthly realized settlements (b)	(102.4)%-49.2%

(a) Generally, increases/(decreases) in this input in isolation would result in a higher/(lower) fair value measurement.

(b) Generally, increases/(decreases) in this input in isolation would result in a lower/(higher) fair value measurement.

The table listed below provides a reconciliation of the beginning and ending net balances for assets and liabilities measured at fair value as of September 30, 2013 and 2012 and classified as Level 3 in the fair value hierarchy:

	For Three Months Ended September 30, 2013
				Total Gains/(Losses)— Realized and Unrealized
(Millions of Dollars)	Beginning Balance as of July 1, 2013			Included in Earnings			Included in Regulatory Assets and Liabilities		Purchases		Issuances		Sales		Settlements		Transfer In/Out of Level 3		Ending Balance as of September 30, 2013
Con Edison
Derivatives:
Commodity	$	(6	)	$	(3	)	$	(2)	$	5	$	—	$	—	$	(8)	$	—	$	(14	)
CECONY
Derivatives:
Commodity	$	8		$	2		$	(1)	$	5	$	—	$	—	$	(6)	$	—	$	8

	For Nine Months Ended September 30, 2013
				Total Gains/(Losses)— Realized and Unrealized
(Millions of Dollars)	Beginning Balance as of January 1, 2013			Included in Earnings		Included in Regulatory Assets and Liabilities		Purchases		Issuances		Sales		Settlements		Transfer In/Out of Level 3		Ending Balance as of September 30, 2013
Con Edison
Derivatives:
Commodity	$	(5	)	$	5	$	1	$	12	$	—	$	—	$	(27)	$	—	$	(14	)
CECONY
Derivatives:
Commodity	$	10		$	9	$	—	$	10	$	—	$	—	$	(21)	$	—	$	8

	For the Three Months Ended September 30, 2012
			Total Gains/(Losses)— Realized and Unrealized
(Millions of Dollars)	Beginning Balance as of July 1, 2012		Included in Earnings		Included in Regulatory Assets and Liabilities		Purchases		Issuances		Sales		Settlements		Transfer In/Out of Level 3		Ending Balance as of September 30, 2012
Con Edison
Derivatives:
Commodity	$	(61)	$	(15)	$	19	$	7	$	—	$	—	$	25	$	22	$	(3	)
CECONY
Derivatives:
Commodity	$	(10)	$	(9)	$	8	$	7	$	—	$	—	$	5	$	11	$	12

	For the Nine Months Ended September 30, 2012
				Total Gains/(Losses)— Realized and Unrealized
(Millions of Dollars)	Beginning Balance as of January 1, 2012			Included in Earnings			Included in Regulatory Assets and Liabilities		Purchases		Issuances		Sales		Settlements		Transfer In/Out of Level 3			Ending Balance as of September 30, 2012
Con Edison
Derivatives:
Commodity	$	(62	)	$	(97	)	$	11	$	18	$	—	$	—	$	106	$	21		$	(3	)
Interest rate contract		(8	)		(1	)		—		—		—		—		1		8	(b)		—
Other assets(a)		99			3			3		—		—		—		—		(105	)(b)		—
Total	$	29		$	(95	)	$	14	$	18	$	—	$	—	$	107	$	(76	)	$	(3	)
CECONY
Derivatives:
Commodity	$	(7	)	$	(25	)	$	8	$	15	$	—	$	—	$	12	$	9	(b)	$	12
Other assets(a)		90			3			2		—		—		—		—		(95	)(b)		—
Total	$	83		$	(22	)	$	10	$	15	$	—	$	—	$	12	$	(86	)	$	12

(a) Amounts included in earnings are reported in investment and other income on the consolidated income statement.

(b) Other assets and interest rate contract were transferred as of March 31, 2012.

For the Utilities, realized gains and losses on Level 3 commodity derivative assets and liabilities are reported as part of purchased power, gas and fuel costs. The Utilities generally recover these costs in accordance with rate provisions approved by the applicable state public utilities commissions. Unrealized gains and losses for commodity derivatives are generally deferred on the consolidated balance sheet in accordance with the accounting rules for regulated operations.

For the competitive energy businesses, realized and unrealized gains and losses on Level 3 commodity derivative assets and liabilities are reported in non-utility revenues (immaterial and $2 million loss) and purchased power costs ($4 million loss and $2 million gain) on the consolidated income statement for the three months ended September 30, 2013 and 2012, respectively. Realized and unrealized gains and losses on Level 3 commodity derivative assets and liabilities are reported in non-utility revenues ($2 million loss and $11 million loss) and purchased power costs (immaterial and $42 million loss) on the consolidated income statement for the nine months ended September 30, 2013 and 2012, respectively. The change in fair value relating to Level 3 commodity derivative assets and liabilities held at September 30, 2013 and 2012 is included in non-utility revenues (immaterial and $2 million loss) and purchased power costs ($5 million loss and $16 million gain) on the consolidated income statement for the three months ended September 30, 2013 and 2012, respectively. For the nine months ended September 30, 2013 and 2012, the change in fair value relating to Level 3 commodity derivative assets and liabilities is included in non-utility revenues ($2 million loss and $11 million loss) and purchased power costs ($3 million loss and $40 million gain) on the consolidated income statement, respectively.

The accounting rules for fair value measurements and disclosures require consideration of the impact of nonperformance risk (including credit risk) from a market participant perspective in the measurement of the fair value of assets and liabilities. At September 30, 2013, the Companies determined that nonperformance risk would have no material impact on their financial position or results of operations. To assess nonperformance risk, the Companies considered information such as collateral requirements, master netting arrangements, letters of credit and parent company guarantees, and applied a market-based method by using the counterparty (for an asset) or the Companies’ (for a liability) credit default swaps rates.

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Derivative Instruments and Hedging Activities - Fair Values of Companies' Commodity Derivatives (Detail) (USD $) In Millions, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Derivatives Liabilities
Fair value of derivative liabilities	$ 124	$ 176
Impact of netting	(74)	(104)
Net derivatives liabilities	50	72
Derivatives Assets [Member]
Derivatives Assets
Fair value of derivative assets	80	86
Impact of netting	(18)	(20)
Net derivatives assets	62	66
Derivatives Assets [Member] | Other current assets [Member]
Derivatives Assets
Fair value of derivative assets	55	64
Derivatives Assets [Member] | Other deferred charges and noncurrent assets [Member]
Derivatives Assets
Fair value of derivative assets	25	22
Derivatives Liabilities [Member] | Fair value of derivative liabilities, Current [Member]
Derivatives Liabilities
Fair value of derivative liabilities	71	122
Derivatives Liabilities [Member] | Fair value of derivative liabilities, Long-term [Member]
Derivatives Liabilities
Fair value of derivative liabilities	53	54
CECONY [Member]
Derivatives Liabilities
Fair value of derivative liabilities	58	83
Impact of netting	(33)	(44)
Net derivatives liabilities	25	39
CECONY [Member] | Derivatives Assets [Member]
Derivatives Assets
Fair value of derivative assets	27	27
Impact of netting	(4)	3
Net derivatives assets	23	30
CECONY [Member] | Derivatives Assets [Member] | Other current assets [Member]
Derivatives Assets
Fair value of derivative assets	18	18
CECONY [Member] | Derivatives Assets [Member] | Other deferred charges and noncurrent assets [Member]
Derivatives Assets
Fair value of derivative assets	9	9
CECONY [Member] | Derivatives Liabilities [Member] | Fair value of derivative liabilities, Current [Member]
Derivatives Liabilities
Fair value of derivative liabilities	40	58
CECONY [Member] | Derivatives Liabilities [Member] | Fair value of derivative liabilities, Long-term [Member]
Derivatives Liabilities
Fair value of derivative liabilities	$ 18	$ 25

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Derivative Instruments and Hedging Activities - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2013
Investment Holdings [Line Items]
Energy supply and hedging activities credit exposure total	$ 110	$ 110
Makeup of net credit exposure, with investment-grade counterparties	30	30
Makeup of net credit exposure with commodity exchange brokers	37	37
Makeup of net credit exposure independent system operators		42
Makeup of net credit exposure non-investment grade or non-rated counterparties		1
Number of Capacity Contracts		1,187
Interest Rate Swap [Member]
Investment Holdings [Line Items]
Derivative, fixed interest rate	6.09%	6.09%
Unrealized gain (loss) on derivatives		(3)
Increase in the fair value of derivative	1	3
CECONY [Member]
Investment Holdings [Line Items]
Energy supply and hedging activities credit exposure total	$ 14	$ 14
Number of Capacity Contracts		628