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v3.24.3

Regulatory Matters (Tables) | 9 Months Ended
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Sep. 30, 2024
Regulated Operations [Abstract] |
Schedule of Regulatory Assets | Regulatory assets and liabilities at September 30, 2024 and December 31, 2023 were comprised of the following items:
| Con Edison |  | CECONY
(Millions of Dollars) | 2024 | 2023 |  | 2024 | 2023
Regulatory assets |  |  |  |  |
System peak reduction and energy efficiency programs | $1,204 | $1,095 |  | $1,172 | $1,075
Environmental remediation costs | 1,093 | 1,105 |  | 1,010 | 1,022
COVID - 19 pandemic deferrals | 888 | 789 |  | 875 | 782
Revenue taxes | 525 | 476 |  | 503 | 455
Legacy meters (a) | 420 | 17 |  | 405 | —
Property tax reconciliation | 176 | 169 |  | 176 | 169
Deferred storm costs | 169 | 206 |  | 67 | 115
Deferred derivative losses - long term | 154 | 163 |  | 138 | 148
Electric vehicle make ready | 115 | 73 |  | 105 | 68
MTA power reliability deferral | 38 | 61 |  | 38 | 61
Gas service line deferred costs | 23 | 43 |  | 23 | 43
Unrecognized pension and other postretirement costs (b) | 10 | — |  | 10 | —
Pension and other postretirement benefits deferrals | 5 | 48 |  | 5 | 39
Other | 497 | 362 |  | 444 | 337
Regulatory assets – noncurrent | 5,317 | 4,607 |  | 4,971 | 4,314
Deferred derivative losses - short term | 165 | 269 |  | 151 | 253
Recoverable energy costs | 59 | 12 |  | 42 | 1
Regulatory assets – current | 224 | 281 |  | 193 | 254
Total Regulatory Assets | $5,541 | $4,888 |  | $5,164 | $4,568
Regulatory liabilities |  |  |  |  |
Allowance for cost of removal less salvage | $1,470 | $1,456 |  | $1,269 | $1,266
Future income tax* | 1,324 | 1,535 |  | 1,209 | 1,404
Unrecognized pension and other postretirement costs (b) | 787 | 943 |  | 739 | 867
Pension and other postretirement benefit deferrals | 370 | 284 |  | 312 | 233
Net unbilled revenue deferrals | 260 |  | 278 |  |  | 260 |  | 278 |
Late payment charge deferral | 227 | 167 |  | 221 | 161
System benefit charge carrying charge | 111 |  | 92 |  |  | 106 |  | 88 |
Net proceeds from sale of property | 31 | 48 |  | 30 | 47
Deferred derivative gains - long term | 19 | 49 |  | 19 | 49
Settlement of prudence proceeding | 10 | 11 |  | 10 | 11
Other | 428 | 465 |  | 386 | 414
Regulatory liabilities – noncurrent | 5,037 | 5,328 |  | 4,561 | 4,818
Refundable energy costs | 81 | 71 |  | 43 | 36
Revenue decoupling mechanism | 33 |  | — |  |  | — |  | — |
Deferred derivative gains - short term | 29 | 74 |  | 28 | 71
Regulatory liabilities – current | 143 | 145 |  | 71 | 107
Total Regulatory Liabilities | $5,180 | $5,473 |  | $4,632 | $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. (b) Unrecognized pension and other postretirement costs represent the deferrals associated with the accounting rules for retirement benefits.
Schedule of Regulatory Liabilities | Regulatory assets and liabilities at September 30, 2024 and December 31, 2023 were comprised of the following items:
| Con Edison |  | CECONY
(Millions of Dollars) | 2024 | 2023 |  | 2024 | 2023
Regulatory assets |  |  |  |  |
System peak reduction and energy efficiency programs | $1,204 | $1,095 |  | $1,172 | $1,075
Environmental remediation costs | 1,093 | 1,105 |  | 1,010 | 1,022
COVID - 19 pandemic deferrals | 888 | 789 |  | 875 | 782
Revenue taxes | 525 | 476 |  | 503 | 455
Legacy meters (a) | 420 | 17 |  | 405 | —
Property tax reconciliation | 176 | 169 |  | 176 | 169
Deferred storm costs | 169 | 206 |  | 67 | 115
Deferred derivative losses - long term | 154 | 163 |  | 138 | 148
Electric vehicle make ready | 115 | 73 |  | 105 | 68
MTA power reliability deferral | 38 | 61 |  | 38 | 61
Gas service line deferred costs | 23 | 43 |  | 23 | 43
Unrecognized pension and other postretirement costs (b) | 10 | — |  | 10 | —
Pension and other postretirement benefits deferrals | 5 | 48 |  | 5 | 39
Other | 497 | 362 |  | 444 | 337
Regulatory assets – noncurrent | 5,317 | 4,607 |  | 4,971 | 4,314
Deferred derivative losses - short term | 165 | 269 |  | 151 | 253
Recoverable energy costs | 59 | 12 |  | 42 | 1
Regulatory assets – current | 224 | 281 |  | 193 | 254
Total Regulatory Assets | $5,541 | $4,888 |  | $5,164 | $4,568
Regulatory liabilities |  |  |  |  |
Allowance for cost of removal less salvage | $1,470 | $1,456 |  | $1,269 | $1,266
Future income tax* | 1,324 | 1,535 |  | 1,209 | 1,404
Unrecognized pension and other postretirement costs (b) | 787 | 943 |  | 739 | 867
Pension and other postretirement benefit deferrals | 370 | 284 |  | 312 | 233
Net unbilled revenue deferrals | 260 |  | 278 |  |  | 260 |  | 278 |
Late payment charge deferral | 227 | 167 |  | 221 | 161
System benefit charge carrying charge | 111 |  | 92 |  |  | 106 |  | 88 |
Net proceeds from sale of property | 31 | 48 |  | 30 | 47
Deferred derivative gains - long term | 19 | 49 |  | 19 | 49
Settlement of prudence proceeding | 10 | 11 |  | 10 | 11
Other | 428 | 465 |  | 386 | 414
Regulatory liabilities – noncurrent | 5,037 | 5,328 |  | 4,561 | 4,818
Refundable energy costs | 81 | 71 |  | 43 | 36
Revenue decoupling mechanism | 33 |  | — |  |  | — |  | — |
Deferred derivative gains - short term | 29 | 74 |  | 28 | 71
Regulatory liabilities – current | 143 | 145 |  | 71 | 107
Total Regulatory Liabilities | $5,180 | $5,473 |  | $4,632 | $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. (b) Unrecognized pension and other postretirement costs represent the deferrals associated with the accounting rules for retirement benefits.
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 | $1,093 | $1,105 | $1,009 | $1,022 |
Revenue taxes | 558 | 490 | 535 | 470 |
COVID-19 deferral for uncollectible accounts receivable | 391 | 291 | 384 | 288 |
Deferred derivative losses - current | 165 | 269 | 152 | 253 |
Deferred derivative losses - long term | 154 | 163 | 138 | 148 |
Unrecognized pension and other postretirement costs | 10 | — | 10 | — |
Other | 75 | 29 | 63 | 28 |
Total | $2,446 | $2,347 | $2,291 | $2,209 |
*This table presents regulatory assets not earning a return for which no cash outlay has been made.

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