Short-Term Borrowing

3 Months Ended

Mar. 31, 2017

Debt Disclosure [Abstract]

Short-Term Borrowing

Short-Term Borrowing

At March 31, 2017, Con Edison had $836 million of commercial paper outstanding of which $445 million was outstanding under CECONY’s program. The weighted average interest rate at March 31, 2017 was 1.1 percent for both Con Edison and CECONY. At December 31, 2016, Con Edison had $1,054 million of commercial paper outstanding of which $600 million was outstanding under CECONY’s program. The weighted average interest rate at December 31, 2016 was 1.0 percent for both Con Edison and CECONY.

At March 31, 2017 and December 31, 2016, no loans were outstanding under the credit agreement (Credit Agreement). An immaterial amount and $2 million (including $2 million for CECONY) of letters of credit were outstanding under the Credit Agreement as of March 31, 2017 and December 31, 2016, respectively.