Regulatory Matters (Tables)

6 Months Ended

Jun. 30, 2019

Regulatory assets and liabilities at June 30, 2019 and December 31, 2018 were comprised of the following items:



	Con Edison		CECONY
(Millions of Dollars)	2019	2018	2019	2018
Regulatory assets
Unrecognized pension and other postretirement costs	$2,042	$2,238	$1,934	$2,111
Environmental remediation costs	787	810	696	716
Revenue taxes	304	291	291	278
MTA power reliability deferral	241	229	241	229
Property tax reconciliation	127	101	115	86
Deferred derivative losses	117	17	106	11
Municipal infrastructure support costs	76	67	76	67
Pension and other postretirement benefits deferrals	73	73	54	56
Deferred storm costs	72	76	—	—
System peak reduction and energy efficiency programs	48	72	47	70
Meadowlands heater odorization project	35	36	35	36
Brooklyn Queens demand management program	34	39	34	39
Unamortized loss on reacquired debt	32	36	30	34
Preferred stock redemption	23	23	23	23
Recoverable REV demonstration project costs	20	20	18	18
Gate station upgrade project	17	17	17	17
Workers’ compensation	4	5	4	5
O&R transition bond charges	1	2	—	—
Indian Point Energy Center program costs	—	13	—	13
Other	184	129	173	114
Regulatory assets – noncurrent	4,237	4,294	3,894	3,923
Deferred derivative losses	75	36	63	29
Recoverable energy costs	22	40	19	35
Regulatory assets – current	97	76	82	64
Total Regulatory Assets	$4,334	$4,370	$3,976	$3,987
Regulatory liabilities
Future income tax	$2,470	$2,515	$2,323	$2,363
Allowance for cost of removal less salvage	947	928	805	790
TCJA net benefits*	449	434	429	411
Net unbilled revenue deferrals	155	117	155	117
Energy efficiency portfolio standard unencumbered funds	124	127	119	122
Pension and other postretirement benefit deferrals	63	62	39	40
Net proceeds from sale of property	45	6	45	6
Property tax refunds	45	45	45	45
System benefit charge carrying charge	37	27	33	24
Earnings sharing - electric, gas and steam	25	36	17	27
Settlement of prudence proceeding	22	37	22	37
BQDM and REV Demo reconciliations	22	18	22	18
Settlement of gas proceedings	12	15	12	15
Carrying charges on repair allowance and bonus depreciation	10	21	9	21
New York State income tax rate change	8	17	8	17
Unrecognized other postretirement costs	8	7	3	7
Base rate change deferrals	4	10	4	10
Property tax reconciliation	2	36	2	36
Other	156	183	122	152
Regulatory liabilities – noncurrent	4,604	4,641	4,214	4,258
Refundable energy costs	50	31	22	8
Revenue decoupling mechanism	36	53	22	36
Deferred derivative gains	18	30	17	29
Regulatory liabilities – current	104	114	61	73
Total Regulatory Liabilities	$4,708	$4,755	$4,275	$4,331

* See "Other Regulatory Matters," above.

Schedule of Regulatory Liabilities

Regulatory assets and liabilities at June 30, 2019 and December 31, 2018 were comprised of the following items:



	Con Edison		CECONY
(Millions of Dollars)	2019	2018	2019	2018
Regulatory assets
Unrecognized pension and other postretirement costs	$2,042	$2,238	$1,934	$2,111
Environmental remediation costs	787	810	696	716
Revenue taxes	304	291	291	278
MTA power reliability deferral	241	229	241	229
Property tax reconciliation	127	101	115	86
Deferred derivative losses	117	17	106	11
Municipal infrastructure support costs	76	67	76	67
Pension and other postretirement benefits deferrals	73	73	54	56
Deferred storm costs	72	76	—	—
System peak reduction and energy efficiency programs	48	72	47	70
Meadowlands heater odorization project	35	36	35	36
Brooklyn Queens demand management program	34	39	34	39
Unamortized loss on reacquired debt	32	36	30	34
Preferred stock redemption	23	23	23	23
Recoverable REV demonstration project costs	20	20	18	18
Gate station upgrade project	17	17	17	17
Workers’ compensation	4	5	4	5
O&R transition bond charges	1	2	—	—
Indian Point Energy Center program costs	—	13	—	13
Other	184	129	173	114
Regulatory assets – noncurrent	4,237	4,294	3,894	3,923
Deferred derivative losses	75	36	63	29
Recoverable energy costs	22	40	19	35
Regulatory assets – current	97	76	82	64
Total Regulatory Assets	$4,334	$4,370	$3,976	$3,987
Regulatory liabilities
Future income tax	$2,470	$2,515	$2,323	$2,363
Allowance for cost of removal less salvage	947	928	805	790
TCJA net benefits*	449	434	429	411
Net unbilled revenue deferrals	155	117	155	117
Energy efficiency portfolio standard unencumbered funds	124	127	119	122
Pension and other postretirement benefit deferrals	63	62	39	40
Net proceeds from sale of property	45	6	45	6
Property tax refunds	45	45	45	45
System benefit charge carrying charge	37	27	33	24
Earnings sharing - electric, gas and steam	25	36	17	27
Settlement of prudence proceeding	22	37	22	37
BQDM and REV Demo reconciliations	22	18	22	18
Settlement of gas proceedings	12	15	12	15
Carrying charges on repair allowance and bonus depreciation	10	21	9	21
New York State income tax rate change	8	17	8	17
Unrecognized other postretirement costs	8	7	3	7
Base rate change deferrals	4	10	4	10
Property tax reconciliation	2	36	2	36
Other	156	183	122	152
Regulatory liabilities – noncurrent	4,604	4,641	4,214	4,258
Refundable energy costs	50	31	22	8
Revenue decoupling mechanism	36	53	22	36
Deferred derivative gains	18	30	17	29
Regulatory liabilities – current	104	114	61	73
Total Regulatory Liabilities	$4,708	$4,755	$4,275	$4,331

* See "Other Regulatory Matters," above.