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Regulatory Matters (Tables) | 9 Months Ended
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Sep. 30, 2021
Regulated Operations [Abstract] |
Schedule of Regulatory Assets | Regulatory assets and liabilities at September 30, 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 | $2,527 | $3,241 |  | $2,394 | $3,065
Environmental remediation costs | 846 | 865 |  | 780 | 791
Pension and other postretirement benefits deferrals | 438 | 315 |  | 382 | 272
Revenue taxes | 385 | 356 |  | 369 | 342
COVID-19 pandemic deferrals | 274 | 115 |  | 269 | 113
Deferred storm costs | 277 | 195 |  | 155 | 83 |
Property tax reconciliation | 245 | 241 |  | 245 | 239
MTA power reliability deferral | 152 | 188 |  | 152 | 188
System peak reduction and energy efficiency programs | 145 | 124 |  | 145 | 124
Deferred derivative losses - long term | 136 | 120 |  | 124 | 111
Municipal infrastructure support costs | 49 | 62 |  | 49 | 62
Brooklyn Queens demand management program | 35 | 36 |  | 35 | 36
Meadowlands heater odorization project | 30 | 32 |  | 30 | 32
Preferred stock redemption | 20 | 21 |  | 20 | 21
Non-wire alternative projects | 23 | 18 |  | 23 | 18
Unamortized loss on reacquired debt | 17 | 21 |  | 15 | 19
Recoverable REV demonstration project costs | 15 | 20 |  | 14 | 18
Gate station upgrade project | 15 | 25 |  | 15 | 25
Other | 274 | 200 |  | 257 | 186
Regulatory assets – noncurrent | 5,903 | 6,195 |  | 5,473 | 5,745
Deferred derivative losses - short term | 166 | 190 |  | 155 | 177
Recoverable energy costs | 39 | 76 |  | 32 | 67
Regulatory assets – current | 205 | 266 |  | 187 | 244
Total Regulatory Assets | $6,108 | $6,461 |  | $5,660 | $5,989
Regulatory liabilities |  |  |  |  |
Future income tax | $2,040 | $2,207 |  | $1,896 | $2,062
Allowance for cost of removal less salvage | 1,114 | 1,090 |  | 950 | 932
Net unbilled revenue deferrals | 184 | 198 |  | 184 | 198
TCJA net benefits* | 167 | 295 |  | 164 | 286
Net proceeds from sale of property | 111 | 137 |  | 111 | 137
Deferred derivative gains - long term | 110 | 5 |  | 101 | 4
Pension and other postretirement benefit deferrals | 98 | 85 |  | 53 | 46
System benefit charge carrying charge | 71 | 64 |  | 63 | 57
Property tax refunds | 35 | 36 |  | 35 | 35
BQDM and REV Demo reconciliations | 26 | 27 |  | 22 | 25
Sales and use tax refunds | 18 | 16 |  | 17 | 16
Energy efficiency portfolio standard unencumbered funds | 17 | 1 |  | 19 | — |
Earnings sharing - electric, gas and steam | 13 | 15 |  | 10 | 10
Unrecognized other postretirement costs | 12 | 11 |  | — |  | — |
Settlement of gas proceedings | 11 | 21 |  | 11 | 21
Settlement of prudence proceeding | 6 | 5 |  | 6 | 5
Workers' compensation | 5 | 3 |  | 5 | 3
Other | 341 | 297 |  | 294 | 257
Regulatory liabilities – noncurrent | 4,379 | 4,513 |  | 3,941 | 4,094
Deferred derivative gains - short term | 451 | 8 |  | 423 | 7
Refundable energy costs | 31 | 28 |  | 5 | 4
Revenue decoupling mechanism | 8 | — |  | — |  | — |
Regulatory liabilities – current | 490 | 36 |  | 428 | 11
Total Regulatory Liabilities | $4,869 | $4,549 |  | $4,369 | $4,105
* See "Other Regulatory Matters," above.
Schedule of Regulatory Liabilities | Regulatory assets and liabilities at September 30, 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 | $2,527 | $3,241 |  | $2,394 | $3,065
Environmental remediation costs | 846 | 865 |  | 780 | 791
Pension and other postretirement benefits deferrals | 438 | 315 |  | 382 | 272
Revenue taxes | 385 | 356 |  | 369 | 342
COVID-19 pandemic deferrals | 274 | 115 |  | 269 | 113
Deferred storm costs | 277 | 195 |  | 155 | 83 |
Property tax reconciliation | 245 | 241 |  | 245 | 239
MTA power reliability deferral | 152 | 188 |  | 152 | 188
System peak reduction and energy efficiency programs | 145 | 124 |  | 145 | 124
Deferred derivative losses - long term | 136 | 120 |  | 124 | 111
Municipal infrastructure support costs | 49 | 62 |  | 49 | 62
Brooklyn Queens demand management program | 35 | 36 |  | 35 | 36
Meadowlands heater odorization project | 30 | 32 |  | 30 | 32
Preferred stock redemption | 20 | 21 |  | 20 | 21
Non-wire alternative projects | 23 | 18 |  | 23 | 18
Unamortized loss on reacquired debt | 17 | 21 |  | 15 | 19
Recoverable REV demonstration project costs | 15 | 20 |  | 14 | 18
Gate station upgrade project | 15 | 25 |  | 15 | 25
Other | 274 | 200 |  | 257 | 186
Regulatory assets – noncurrent | 5,903 | 6,195 |  | 5,473 | 5,745
Deferred derivative losses - short term | 166 | 190 |  | 155 | 177
Recoverable energy costs | 39 | 76 |  | 32 | 67
Regulatory assets – current | 205 | 266 |  | 187 | 244
Total Regulatory Assets | $6,108 | $6,461 |  | $5,660 | $5,989
Regulatory liabilities |  |  |  |  |
Future income tax | $2,040 | $2,207 |  | $1,896 | $2,062
Allowance for cost of removal less salvage | 1,114 | 1,090 |  | 950 | 932
Net unbilled revenue deferrals | 184 | 198 |  | 184 | 198
TCJA net benefits* | 167 | 295 |  | 164 | 286
Net proceeds from sale of property | 111 | 137 |  | 111 | 137
Deferred derivative gains - long term | 110 | 5 |  | 101 | 4
Pension and other postretirement benefit deferrals | 98 | 85 |  | 53 | 46
System benefit charge carrying charge | 71 | 64 |  | 63 | 57
Property tax refunds | 35 | 36 |  | 35 | 35
BQDM and REV Demo reconciliations | 26 | 27 |  | 22 | 25
Sales and use tax refunds | 18 | 16 |  | 17 | 16
Energy efficiency portfolio standard unencumbered funds | 17 | 1 |  | 19 | — |
Earnings sharing - electric, gas and steam | 13 | 15 |  | 10 | 10
Unrecognized other postretirement costs | 12 | 11 |  | — |  | — |
Settlement of gas proceedings | 11 | 21 |  | 11 | 21
Settlement of prudence proceeding | 6 | 5 |  | 6 | 5
Workers' compensation | 5 | 3 |  | 5 | 3
Other | 341 | 297 |  | 294 | 257
Regulatory liabilities – noncurrent | 4,379 | 4,513 |  | 3,941 | 4,094
Deferred derivative gains - short term | 451 | 8 |  | 423 | 7
Refundable energy costs | 31 | 28 |  | 5 | 4
Revenue decoupling mechanism | 8 | — |  | — |  | — |
Regulatory liabilities – current | 490 | 36 |  | 428 | 11
Total Regulatory Liabilities | $4,869 | $4,549 |  | $4,369 | $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 pension and other postretirement costs | $2,527 | $3,241 | $2,394 | $3,065
Environmental remediation costs | 832 | 855 | 765 | 781
Revenue taxes | 364 | 336 | 349 | 323
Deferred derivative losses - long term | 136 | 120 | 124 | 111
Other | 56 | 24 | 56 | 24
Deferred derivative losses - current | 166 | 190 | 155 | 177
Total | $4,081 | $4,766 | $3,843 | $4,481
*This table includes regulatory assets not earning a return for which no cash outlay has been made.

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