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v3.21.1

Regulatory Matters (Tables) | 3 Months Ended
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Mar. 31, 2021
Regulated Operations [Abstract] |
Schedule of Regulatory Assets | Regulatory assets and liabilities at March 31, 2021 and December 31, 2020 were comprised of the following items:
| Con Edison |  | CECONY
(Millions of Dollars) | 2021 | 2020 |  | 2021 | 2020
Regulatory assets |  |  |  |  |
Unrecognized pension and other postretirement costs | $2,943 | $3,241 |  | $2,791 | $3,065
Environmental remediation costs | 858 | 865 |  | 786 | 791
Revenue taxes | 369 | 356 |  | 353 | 342
Pension and other postretirement benefits deferrals | 365 | 315 |  | 318 | 272
Property tax reconciliation | 244 | 241 |  | 243 | 239
Deferred storm costs | 238 | 195 |  | 119 | 83 |
MTA power reliability deferral | 176 | 188 |  | 176 | 188
COVID-19 pandemic deferrals | 142 | 115 |  | 139 | 113
System peak reduction and energy efficiency programs | 106 | 124 |  | 105 | 124
Deferred derivative losses | 97 | 120 |  | 91 | 111
Municipal infrastructure support costs | 56 | 62 |  | 56 | 62
Brooklyn Queens demand management program | 36 | 36 |  | 36 | 36
Meadowlands heater odorization project | 32 | 32 |  | 32 | 32
Preferred stock redemption | 21 | 21 |  | 21 | 21
Unamortized loss on reacquired debt | 19 | 21 |  | 18 | 19
Non-wire alternative projects | 19 | 18 |  | 19 | 18
Gate station upgrade project | 18 | 25 |  | 18 | 25
Recoverable REV demonstration project costs | 18 | 20 |  | 17 | 18
Other | 233 | 200 |  | 221 | 186
Regulatory assets – noncurrent | 5,990 | 6,195 |  | 5,559 | 5,745
Deferred derivative losses | 186 | 190 |  | 174 | 177
Recoverable energy costs | 67 | 76 |  |  | 60 |  | 67 |
Regulatory assets – current | 253 | 266 |  | 234 | 244
Total Regulatory Assets | $6,243 | $6,461 |  | $5,793 | $5,989
Regulatory liabilities |  |  |  |  |
Future income tax | $2,153 | $2,207 |  | $2,009 | $2,062
Allowance for cost of removal less salvage | 1,089 | 1,090 |  | 929 | 932
TCJA net benefits* | 251 | 295 |  | 244 | 286
Net proceeds from sale of property | 128 | 137 |  | 128 | 137
Net unbilled revenue deferrals | 89 | 198 |  | 89 | 198
Pension and other postretirement benefit deferrals | 89 | 85 |  | 48 | 46
Energy efficiency portfolio standard unencumbered funds | 79 | 1 |  | 78 | — |
System benefit charge carrying charge | 66 | 64 |  | 59 | 57
Property tax refunds | 37 | 36 |  | 35 | 35
BQDM and REV Demo reconciliations | 26 | 27 |  | 23 | 25
Sales and use tax refunds | 17 | 16 |  | 15 | 16
Earnings sharing - electric, gas and steam | 14 | 15 |  | 10 | 10
Settlement of gas proceedings | 13 | 21 |  | 13 | 21
Unrecognized other postretirement costs | 12 | 11 |  | — |  | — |
Settlement of prudence proceeding | 6 | 5 |  | 6 | 5
Workers' compensation | 3 | 3 |  | 3 | 3
Other | 306 | 302 |  | 266 | 261
Regulatory liabilities – noncurrent | 4,378 | 4,513 |  | 3,955 | 4,094
Refundable energy costs | 58 | 28 |  | 33 | 4
Deferred derivative gains | 27 | 8 |  | 25 | 7
Regulatory liabilities – current | 85 | 36 |  | 58 | 11
Total Regulatory Liabilities | $4,463 | $4,549 |  | $4,013 | $4,105
* See "Other Regulatory Matters," above.
Schedule of Regulatory Liabilities | Regulatory assets and liabilities at March 31, 2021 and December 31, 2020 were comprised of the following items:
| Con Edison |  | CECONY
(Millions of Dollars) | 2021 | 2020 |  | 2021 | 2020
Regulatory assets |  |  |  |  |
Unrecognized pension and other postretirement costs | $2,943 | $3,241 |  | $2,791 | $3,065
Environmental remediation costs | 858 | 865 |  | 786 | 791
Revenue taxes | 369 | 356 |  | 353 | 342
Pension and other postretirement benefits deferrals | 365 | 315 |  | 318 | 272
Property tax reconciliation | 244 | 241 |  | 243 | 239
Deferred storm costs | 238 | 195 |  | 119 | 83 |
MTA power reliability deferral | 176 | 188 |  | 176 | 188
COVID-19 pandemic deferrals | 142 | 115 |  | 139 | 113
System peak reduction and energy efficiency programs | 106 | 124 |  | 105 | 124
Deferred derivative losses | 97 | 120 |  | 91 | 111
Municipal infrastructure support costs | 56 | 62 |  | 56 | 62
Brooklyn Queens demand management program | 36 | 36 |  | 36 | 36
Meadowlands heater odorization project | 32 | 32 |  | 32 | 32
Preferred stock redemption | 21 | 21 |  | 21 | 21
Unamortized loss on reacquired debt | 19 | 21 |  | 18 | 19
Non-wire alternative projects | 19 | 18 |  | 19 | 18
Gate station upgrade project | 18 | 25 |  | 18 | 25
Recoverable REV demonstration project costs | 18 | 20 |  | 17 | 18
Other | 233 | 200 |  | 221 | 186
Regulatory assets – noncurrent | 5,990 | 6,195 |  | 5,559 | 5,745
Deferred derivative losses | 186 | 190 |  | 174 | 177
Recoverable energy costs | 67 | 76 |  |  | 60 |  | 67 |
Regulatory assets – current | 253 | 266 |  | 234 | 244
Total Regulatory Assets | $6,243 | $6,461 |  | $5,793 | $5,989
Regulatory liabilities |  |  |  |  |
Future income tax | $2,153 | $2,207 |  | $2,009 | $2,062
Allowance for cost of removal less salvage | 1,089 | 1,090 |  | 929 | 932
TCJA net benefits* | 251 | 295 |  | 244 | 286
Net proceeds from sale of property | 128 | 137 |  | 128 | 137
Net unbilled revenue deferrals | 89 | 198 |  | 89 | 198
Pension and other postretirement benefit deferrals | 89 | 85 |  | 48 | 46
Energy efficiency portfolio standard unencumbered funds | 79 | 1 |  | 78 | — |
System benefit charge carrying charge | 66 | 64 |  | 59 | 57
Property tax refunds | 37 | 36 |  | 35 | 35
BQDM and REV Demo reconciliations | 26 | 27 |  | 23 | 25
Sales and use tax refunds | 17 | 16 |  | 15 | 16
Earnings sharing - electric, gas and steam | 14 | 15 |  | 10 | 10
Settlement of gas proceedings | 13 | 21 |  | 13 | 21
Unrecognized other postretirement costs | 12 | 11 |  | — |  | — |
Settlement of prudence proceeding | 6 | 5 |  | 6 | 5
Workers' compensation | 3 | 3 |  | 3 | 3
Other | 306 | 302 |  | 266 | 261
Regulatory liabilities – noncurrent | 4,378 | 4,513 |  | 3,955 | 4,094
Refundable energy costs | 58 | 28 |  | 33 | 4
Deferred derivative gains | 27 | 8 |  | 25 | 7
Regulatory liabilities – current | 85 | 36 |  | 58 | 11
Total Regulatory Liabilities | $4,463 | $4,549 |  | $4,013 | $4,105
* See "Other Regulatory Matters," above.
Schedule of Regulatory Assets Not Earning Return | Regulatory Assets Not Earning a Return*
| Con Edison | CECONY
(Millions of Dollars) | 2021 | 2020 | 2021 | 2020
Unrecognized and other postretirement costs | $2,943 | $3,241 | $2,791 | $3,065
Environmental remediation costs | 847 | 855 | 776 | 781
Revenue taxes | 350 | 336 | 336 | 323
Deferred derivative losses | 97 | 120 | 91 | 111
Other | 35 | 24 | 35 | 24
Deferred derivative losses - current | 186 | 190 | 174 | 177
Total | $4,458 | $4,766 | $4,203 | $4,481
*This table includes regulatory assets not earning a return for which no cash outlay has been made.

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