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v3.22.1

Regulatory Matters (Tables) | 3 Months Ended
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Mar. 31, 2022
Regulated Operations [Abstract] |
Schedule of Regulatory Assets | Regulatory assets and liabilities at March 31, 2022 and December 31, 2021 were comprised of the following items:
| Con Edison |  | CECONY
(Millions of Dollars) | 2022 | 2021 |  | 2022 | 2021
Regulatory assets |  |  |  |  |
Environmental remediation costs | $933 | $938 |  | $854 | $860
Pension and other postretirement benefits deferrals | 447 | 496 |  | 392 | 435
Revenue taxes | 409 | 395 |  | 391 | 378
System peak reduction and energy efficiency programs | 330 | 285 |  | 329 | 284
COVID-19 pandemic deferrals | 304 | 282 |  | 297 | 277
Deferred storm costs | 292 | 276 |  | 178 | 158 |
Property tax reconciliation | 178 | 202 |  | 178 | 202
MTA power reliability deferral | 128 | 140 |  | 128 | 140
Unrecognized pension and other postretirement costs | 112 | 128 |  | 89 | 110
Deferred derivative losses - long term | 85 | 51 |  | 80 | 45
Municipal infrastructure support costs | 41 | 44 |  | 41 | 44
Brooklyn Queens demand management program | 34 | 36 |  | 34 | 36
Meadowlands heater odorization project | 29 | 29 |  | 29 | 29
Non-wire alternative projects | 23 | 23 |  | 23 | 23
Preferred stock redemption | 20 | 20 |  | 20 | 20
Unamortized loss on reacquired debt | 14 | 16 |  | 13 | 14
Recoverable REV demonstration project costs | 14 | 16 |  | 13 | 15
Gate station upgrade project | 14 | 14 |  | 14 | 14
Other | 273 | 248 |  | 248 | 232
Regulatory assets – noncurrent | 3,680 | 3,639 |  | 3,351 | 3,316
Deferred derivative losses - short term | 177 | 141 |  | 165 | 133
Recoverable energy costs | 112 | 65 |  | 104 | 55
Regulatory assets – current | 289 | 206 |  | 269 | 188
Total Regulatory Assets | $3,969 | $3,845 |  | $3,620 | $3,504
Regulatory liabilities |  |  |  |  |
Future income tax | $1,931 | $1,984 |  | $1,790 | $1,840
Allowance for cost of removal less salvage | 1,215 | 1,199 |  | 1,046 | 1,033
Unrecognized pension and other postretirement costs | 231 | 32 |  | 199 |  | — |
Net unbilled revenue deferrals | 131 | 209 |  | 131 | 209
Pension and other postretirement benefit deferrals | 108 | 102 |  | 63 | 55
Deferred derivative gains - long term | 106 | 61 |  | 96 | 55
Net proceeds from sale of property | 95 | 103 |  | 94 | 103
TCJA net benefits* | 92 | 125 |  | 91 | 123
System benefit charge carrying charge | 72 | 70 |  | 64 | 63
Property tax refunds | 35 | 35 |  | 35 | 35
Sales and use tax refunds | 30 | 17 |  | 29 | 16
BQDM and REV Demo reconciliations | 25 | 25 |  | 22 | 22
Earnings sharing - electric, gas and steam | 13 | 13 |  | 10 | 10
Settlement of gas proceedings | 10 | 12 |  | 10 | 12
Workers' compensation | 10 | 8 |  | 10 | 8
Energy efficiency portfolio standard unencumbered funds | 6 | 15 |  | 7 | 19 |
Settlement of prudence proceeding | 6 | 6 |  | 6 | 6
Other | 387 | 365 |  | 331 | 312
Regulatory liabilities – noncurrent | 4,503 | 4,381 |  | 4,034 | 3,921
Deferred derivative gains - short term | 480 | 142 |  | 443 | 132
Refundable energy costs | 50 | 32 |  | 19 | 2
Revenue decoupling mechanism | 13 | 11 |  | — |  | — |
Regulatory liabilities – current | 543 | 185 |  | 462 | 134
Total Regulatory Liabilities | $5,046 | $4,566 |  | $4,496 | $4,055
* See "Other Regulatory Matters," above.
Schedule of Regulatory Liabilities | Regulatory assets and liabilities at March 31, 2022 and December 31, 2021 were comprised of the following items:
| Con Edison |  | CECONY
(Millions of Dollars) | 2022 | 2021 |  | 2022 | 2021
Regulatory assets |  |  |  |  |
Environmental remediation costs | $933 | $938 |  | $854 | $860
Pension and other postretirement benefits deferrals | 447 | 496 |  | 392 | 435
Revenue taxes | 409 | 395 |  | 391 | 378
System peak reduction and energy efficiency programs | 330 | 285 |  | 329 | 284
COVID-19 pandemic deferrals | 304 | 282 |  | 297 | 277
Deferred storm costs | 292 | 276 |  | 178 | 158 |
Property tax reconciliation | 178 | 202 |  | 178 | 202
MTA power reliability deferral | 128 | 140 |  | 128 | 140
Unrecognized pension and other postretirement costs | 112 | 128 |  | 89 | 110
Deferred derivative losses - long term | 85 | 51 |  | 80 | 45
Municipal infrastructure support costs | 41 | 44 |  | 41 | 44
Brooklyn Queens demand management program | 34 | 36 |  | 34 | 36
Meadowlands heater odorization project | 29 | 29 |  | 29 | 29
Non-wire alternative projects | 23 | 23 |  | 23 | 23
Preferred stock redemption | 20 | 20 |  | 20 | 20
Unamortized loss on reacquired debt | 14 | 16 |  | 13 | 14
Recoverable REV demonstration project costs | 14 | 16 |  | 13 | 15
Gate station upgrade project | 14 | 14 |  | 14 | 14
Other | 273 | 248 |  | 248 | 232
Regulatory assets – noncurrent | 3,680 | 3,639 |  | 3,351 | 3,316
Deferred derivative losses - short term | 177 | 141 |  | 165 | 133
Recoverable energy costs | 112 | 65 |  | 104 | 55
Regulatory assets – current | 289 | 206 |  | 269 | 188
Total Regulatory Assets | $3,969 | $3,845 |  | $3,620 | $3,504
Regulatory liabilities |  |  |  |  |
Future income tax | $1,931 | $1,984 |  | $1,790 | $1,840
Allowance for cost of removal less salvage | 1,215 | 1,199 |  | 1,046 | 1,033
Unrecognized pension and other postretirement costs | 231 | 32 |  | 199 |  | — |
Net unbilled revenue deferrals | 131 | 209 |  | 131 | 209
Pension and other postretirement benefit deferrals | 108 | 102 |  | 63 | 55
Deferred derivative gains - long term | 106 | 61 |  | 96 | 55
Net proceeds from sale of property | 95 | 103 |  | 94 | 103
TCJA net benefits* | 92 | 125 |  | 91 | 123
System benefit charge carrying charge | 72 | 70 |  | 64 | 63
Property tax refunds | 35 | 35 |  | 35 | 35
Sales and use tax refunds | 30 | 17 |  | 29 | 16
BQDM and REV Demo reconciliations | 25 | 25 |  | 22 | 22
Earnings sharing - electric, gas and steam | 13 | 13 |  | 10 | 10
Settlement of gas proceedings | 10 | 12 |  | 10 | 12
Workers' compensation | 10 | 8 |  | 10 | 8
Energy efficiency portfolio standard unencumbered funds | 6 | 15 |  | 7 | 19 |
Settlement of prudence proceeding | 6 | 6 |  | 6 | 6
Other | 387 | 365 |  | 331 | 312
Regulatory liabilities – noncurrent | 4,503 | 4,381 |  | 4,034 | 3,921
Deferred derivative gains - short term | 480 | 142 |  | 443 | 132
Refundable energy costs | 50 | 32 |  | 19 | 2
Revenue decoupling mechanism | 13 | 11 |  | — |  | — |
Regulatory liabilities – current | 543 | 185 |  | 462 | 134
Total Regulatory Liabilities | $5,046 | $4,566 |  | $4,496 | $4,055
* See "Other Regulatory Matters," above.
Schedule of Regulatory Assets Not Earning Return | Regulatory Assets Not Earning a Return*
| Con Edison | CECONY
(Millions of Dollars) | 2022 | 2021 | 2022 | 2021
Unrecognized pension and other postretirement costs | $112 | $128 | $89 | $110
Environmental remediation costs | 922 | 928 | 843 | 850
Revenue taxes | 388 | 375 | 372 | 359
COVID-19 Deferral for Uncollectible Accounts Receivable | 265 | 236 | 258 | 231
Deferred derivative losses - current | 177 | 141 | 165 | 134
Deferred derivative losses - long term | 85 | 51 | 80 | 45
Other | 37 | 24 | 36 | 24
Total | $1,986 | $1,883 | $1,843 | $1,753
*This table presents regulatory assets not earning a return for which no cash outlay has been made.

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