Short-Term Borrowing

9 Months Ended

Sep. 30, 2017

Debt Disclosure [Abstract]

Short-Term Borrowing

Short-Term Borrowing

At September 30, 2017, Con Edison had $356 million of commercial paper outstanding of which $147 million was outstanding under CECONY’s program. The weighted average interest rate at September 30, 2017 was 1.3 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 September 30, 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 September 30, 2017 and December 31, 2016, respectively.