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Fair Value Measurements (Tables) | 9 Months Ended
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Sep. 30, 2025
Fair Value Disclosures [Abstract] |
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis | Assets and liabilities measured at fair value on a recurring basis as of September 30, 2025 and December 31, 2024 are summarized below.
| 2025 | 2024
(Millions of Dollars) | Level 1 | Level 2 | Level 3 | Netting Adjustment (d) | Total | Level 1 | Level 2 | Level 3 | Netting Adjustment (d) | Total
Con Edison |  |  |  |  |  |  |  |  |  |
Derivative assets: |  |  |  |  |  |  |  |  |  |
Commodity (a)(b)(c) | $22 | $64 | $5 | $(40) | $51 | $9 | $81 | $1 | $(49) | $42
Mutual Funds (a)(b) | 633 | — | — | — | 633 | 570 | — | — | — | 570
Cash Value of Life Insurance Policies (a)(b) | — | 134 | — | — | 134 | — | 129 | — | — | 129
Total assets | $655 | $198 | $5 | $(40) | $818 | $579 | $210 | $1 | $(49) | $741
Derivative liabilities: |  |  |  |  |  |  |  |  |  |
Commodity (a)(b)(c) | $3 | $143 | $17 | $(34) | 129 | $5 | $175 | $16 | $(48) | $148
CECONY |  |  |  |  |  |  |  |  |  |
Derivative assets: |  |  |  |  |  |  |  |  |  |
Commodity (a)(b)(c) | $22 | $56 | $1 | $(35) | $44 | $9 | $74 | $1 | $(48) | $36
Mutual Funds (a)(b) | 618 | — | — | — | 618 | 553 | — | — | — | 553
Cash Value of Life Insurance Policies (a)(b) | — | 128 | — | — | 128 | — | 123 | — | — | 123
Total assets | $640 | $184 | $1 | $(35) | $790 | $562 | $197 | $1 | $(48) | $712
Derivative liabilities: |  |  |  |  |  |  |  |  |  |
Commodity (a)(b)(c) | $3 | $137 | $8 | $(33) | $115 | $4 | $164 | $7 | $(47) | $128
(a)The Companies’ policy is to review the fair value hierarchy and recognize transfers into and transfers out of the levels at the end of each reporting period. Transfers out of Level 3 represent assets and liabilities that were previously classified as Level 3 for which the inputs became observable for classification in Level 2. The inputs are now observable because of availability of observable market data due to the decrease in the terms of certain contracts from beyond three years to less than three years. (b)Level 2 assets and liabilities include investments held in the deferred compensation plan and/or non-qualified retirement plans, exchange-traded contracts where there is insufficient market liquidity to warrant inclusion in Level 1, and certain over-the-counter derivative instruments for electricity, refined products and natural gas. Derivative instruments classified as Level 2 are valued using industry standard models that incorporate corroborated observable inputs, such as pricing services or prices from similar instruments that trade in liquid markets, time value and volatility factors. (c)The accounting rules for fair value measurements and disclosures require consideration of the impact of nonperformance risk (including credit risk) from a market participant perspective in the measurement of the fair value of assets and liabilities. At September 30, 2025 and December 31, 2024, the Companies determined that nonperformance risk would have no material impact on their financial position or results of operations. (d)Amounts represent the impact of legally-enforceable master netting agreements that allow the Companies to net gain and loss positions and cash collateral held or placed with the same counterparties.
Schedule of Commodity Derivatives |
| Fair Value of Level 3 at September 30, 2025 | Valuation Techniques | Unobservable Inputs | Range | Average Market Price
| (Millions of Dollars)
Con Edison – Commodity
Electricity | $— | Discounted Cash Flow | Forward energy prices ($/MWh) (a) | $33.35 - $107.30 per MWh | $57.58
Electricity | (13) | Discounted Cash Flow | Forward capacity prices ($/kW-month) (a) | $0.73 - $8.37 per kW-month | $3.65
Transmission Congestion Contracts | 1 | Discounted Cash Flow | Inter-zonal forward price curves adjusted for historical zonal losses ($/MWh) (b) | $(0.03) -$2.85 per MWh | $1.06
Total Con Edison—Commodity | $(12) |  |  |  |
CECONY – Commodity
Electricity | $(1) | Discounted Cash Flow | Forward energy prices ($/MWh) (a) | $34.45 - $107.30 per MWh | $57.96
Electricity | (7) | Discounted Cash Flow | Forward capacity prices ($/kW-month) (a) | $0.73 - $7.14 per kW-month | $3.27
Transmission Congestion Contracts | 1 | Discounted Cash Flow | Inter-zonal forward price curves adjusted for historical zonal losses ($/MWh) (b) | $(0.03) -$2.85 per MWh | $1.06
Total CECONY—Commodity | $(7) |  |  |  |
(a)Generally, increases (decreases) in this input in isolation would result in a higher (lower) fair value measurement. (b)Generally, increases (decreases) in this input in isolation would result in a lower (higher) fair value measurement.
Schedule of Reconciliation of Beginning and Ending Net Balances for Assets and Liabilities Measured at Level 3 Fair Value | The table listed below provides a reconciliation of the beginning and ending net balances for assets and liabilities measured at fair value as of September 30, 2025 and 2024 and classified as Level 3 in the fair value hierarchy:
| For the Three Months Ended September 30,
| Con Edison | CECONY
(Millions of Dollars) | 2025 | 2024 | 2025 | 2024
Beginning balance as of July 1, | $(17) | $(11) | $(8) | $(6)
Included in earnings | 2 | (1) | 1 | —
Included in regulatory assets and liabilities | 5 | (15) | 1 | (12)
Settlements | (2) | 2 | (1) | 1
Ending balance as of September 30, | $(12) | $(25) | $(7) | $(17)
| For the Nine Months Ended September 30,
| Con Edison | CECONY
(Millions of Dollars) | 2025 | 2024 | 2025 | 2024
Beginning balance as of January 1, | $(15) | $(8) | $(6) | $(5)
Included in earnings | (1) | (6) | 1 | (2)
Included in regulatory assets and liabilities | 3 | (13) | (1) | (8)
Settlements | 1 | 7 | (1) | 3
Transfer out of level 3 | — | (5) | — | (5)
Ending balance as of September 30, | $(12) | $(25) | $(7) | $(17)

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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 103 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-103 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of financial instrument classified as a derivative asset (liability) after deduction of derivative liability (asset) using recurring unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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