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Regulatory Matters (Tables)

9 Months Ended

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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Schedule Of Regulatory Assets Not Earning Return

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Tabular disclosure of assets that are created when regulatory agencies permit public utilities to defer certain costs included in rate-setting to the balance sheet.

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Tabular disclosure of regulatory liabilities. Detailed information about liabilities that result from rate actions of a regulator. Rate actions of a regulator can impose a liability on a regulated enterprise resulting in a regulatory liability.

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