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Regulatory Matters (Tables) | 3 Months Ended
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Mar. 31, 2024
Regulated Operations [Abstract] |
Schedule of Regulatory Assets | Regulatory assets and liabilities at March 31, 2024 and December 31, 2023 were comprised of the following items:
| Con Edison |  | CECONY
(Millions of Dollars) | 2024 | 2023 |  | 2024 | 2023
Regulatory assets |  |  |  |  |
Environmental remediation costs | $1,098 | $1,105 |  | $1,015 | $1,022
System peak reduction and energy efficiency programs | 1,046 | 1,057 |  | 1,024 | 1,038
COVID - 19 pandemic deferrals | 827 | 789 |  | 816 | 782
Revenue taxes | 494 | 476 |  | 473 | 455
Legacy meters (a) | 436 | 17 |  | 420 | —
Deferred storm costs | 190 | 206 |  | 100 | 115
Property tax reconciliation | 146 | 169 |  | 146 | 169
Deferred derivative losses - long term | 133 | 163 |  | 121 | 148
Electric vehicle make ready | 85 | 73 |  | 79 | 68
Pension and other postretirement benefits deferrals | 73 | 48 |  | 70 | 39
MTA power reliability deferral | 54 | 61 |  | 54 | 61
Gas service line deferred costs | 38 | 43 |  | 38 | 43
Unrecognized pension and other postretirement costs | 4 | — |  | 3 | —
Other | 426 | 400 |  | 398 | 374
Regulatory assets – noncurrent | 5,050 | 4,607 |  | 4,757 | 4,314
Deferred derivative losses - short term | 202 | 269 |  | 191 | 253
Recoverable energy costs | 8 | 12 |  | — | 1
Regulatory assets – current | 210 | 281 |  | 191 | 254
Total Regulatory Assets | $5,260 | $4,888 |  | $4,948 | $4,568
Regulatory liabilities |  |  |  |  |
Future income tax* | 1,469 | 1,535 |  | 1,339 | 1,404
Allowance for cost of removal less salvage | 1,468 | 1,456 |  | 1,274 | 1,266
Unrecognized pension and other postretirement costs | 798 | 943 |  | 750 | 867
Pension and other postretirement benefit deferrals | 315 | 284 |  | 263 | 233
Net unbilled revenue deferrals | 288 | 278 |  | 288 | 278
Late payment charge deferral | 205 | 167 |  | 198 | 161
System benefit charge carrying charge | 98 | 92 |  | 93 | 88
Deferred derivative gains - long term | 48 | 49 |  | 47 | 49
Net proceeds from sale of property | 42 | 48 |  | 41 | 47
Settlement of prudence proceeding | 11 | 11 |  | 11 | 11
Other | 432 | 465 |  | 383 | 414
Regulatory liabilities – noncurrent | 5,174 | 5,328 |  | 4,687 | 4,818
Deferred derivative gains - short term | 117 | 74 |  | 110 | 71
Refundable energy costs | 140 | 71 |  | 100 | 36
Revenue decoupling mechanism | 1 | — |  | — | —
Regulatory liabilities – current | 258 | 145 |  | 210 | 107
Total Regulatory Liabilities | $5,432 | $5,473 |  | $4,897 | $4,925
* See "Other Regulatory Matters," above. (a) Pursuant to their rate plans, CECONY and O&R are recovering the costs of legacy meters over a 15-year period beginning January 1, 2024 and a 12-year period beginning January 1, 2022, respectively.
Schedule of Regulatory Liabilities | Regulatory assets and liabilities at March 31, 2024 and December 31, 2023 were comprised of the following items:
| Con Edison |  | CECONY
(Millions of Dollars) | 2024 | 2023 |  | 2024 | 2023
Regulatory assets |  |  |  |  |
Environmental remediation costs | $1,098 | $1,105 |  | $1,015 | $1,022
System peak reduction and energy efficiency programs | 1,046 | 1,057 |  | 1,024 | 1,038
COVID - 19 pandemic deferrals | 827 | 789 |  | 816 | 782
Revenue taxes | 494 | 476 |  | 473 | 455
Legacy meters (a) | 436 | 17 |  | 420 | —
Deferred storm costs | 190 | 206 |  | 100 | 115
Property tax reconciliation | 146 | 169 |  | 146 | 169
Deferred derivative losses - long term | 133 | 163 |  | 121 | 148
Electric vehicle make ready | 85 | 73 |  | 79 | 68
Pension and other postretirement benefits deferrals | 73 | 48 |  | 70 | 39
MTA power reliability deferral | 54 | 61 |  | 54 | 61
Gas service line deferred costs | 38 | 43 |  | 38 | 43
Unrecognized pension and other postretirement costs | 4 | — |  | 3 | —
Other | 426 | 400 |  | 398 | 374
Regulatory assets – noncurrent | 5,050 | 4,607 |  | 4,757 | 4,314
Deferred derivative losses - short term | 202 | 269 |  | 191 | 253
Recoverable energy costs | 8 | 12 |  | — | 1
Regulatory assets – current | 210 | 281 |  | 191 | 254
Total Regulatory Assets | $5,260 | $4,888 |  | $4,948 | $4,568
Regulatory liabilities |  |  |  |  |
Future income tax* | 1,469 | 1,535 |  | 1,339 | 1,404
Allowance for cost of removal less salvage | 1,468 | 1,456 |  | 1,274 | 1,266
Unrecognized pension and other postretirement costs | 798 | 943 |  | 750 | 867
Pension and other postretirement benefit deferrals | 315 | 284 |  | 263 | 233
Net unbilled revenue deferrals | 288 | 278 |  | 288 | 278
Late payment charge deferral | 205 | 167 |  | 198 | 161
System benefit charge carrying charge | 98 | 92 |  | 93 | 88
Deferred derivative gains - long term | 48 | 49 |  | 47 | 49
Net proceeds from sale of property | 42 | 48 |  | 41 | 47
Settlement of prudence proceeding | 11 | 11 |  | 11 | 11
Other | 432 | 465 |  | 383 | 414
Regulatory liabilities – noncurrent | 5,174 | 5,328 |  | 4,687 | 4,818
Deferred derivative gains - short term | 117 | 74 |  | 110 | 71
Refundable energy costs | 140 | 71 |  | 100 | 36
Revenue decoupling mechanism | 1 | — |  | — | —
Regulatory liabilities – current | 258 | 145 |  | 210 | 107
Total Regulatory Liabilities | $5,432 | $5,473 |  | $4,897 | $4,925
* See "Other Regulatory Matters," above. (a) Pursuant to their rate plans, CECONY and O&R are recovering the costs of legacy meters over a 15-year period beginning January 1, 2024 and a 12-year period beginning January 1, 2022, respectively.
Schedule of Regulatory Assets Not Earning Return | Regulatory Assets Not Earning a Return*
| Con Edison | CECONY
(Millions of Dollars) | 2024 | 2023 | 2024 | 2023
Environmental remediation costs | $1,098 | $1,105 | $1,015 | $1,022
Revenue taxes | 509 | 490 | 488 | 470
COVID-19 deferral for uncollectible accounts receivable | 324 | 291 | 318 | 288
Deferred derivative losses - current | 202 | 269 | 191 | 253
Deferred derivative losses - long term | 133 | 163 | 121 | 148
Unrecognized pension and other postretirement costs | 4 | — | 3 | —
Other | 41 | 29 | 40 | 28
Total | $2,311 | $2,347 | $2,176 | $2,209
*This table presents regulatory assets not earning a return for which no cash outlay has been made.

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