Regulatory Matters (Tables)

3 Months Ended

Mar. 31, 2021

Regulated Operations [Abstract]

Schedule of Regulatory Assets

Regulatory assets and liabilities at March 31, 2021 and December 31, 2020 were comprised of the following items:

	Con Edison		CECONY
(Millions of Dollars)	2021	2020	2021	2020
Regulatory assets
Unrecognized pension and other postretirement costs	$2,943	$3,241	$2,791	$3,065
Environmental remediation costs	858	865	786	791
Revenue taxes	369	356	353	342
Pension and other postretirement benefits deferrals	365	315	318	272
Property tax reconciliation	244	241	243	239
Deferred storm costs	238	195	119	83
MTA power reliability deferral	176	188	176	188
COVID-19 pandemic deferrals	142	115	139	113
System peak reduction and energy efficiency programs	106	124	105	124
Deferred derivative losses	97	120	91	111
Municipal infrastructure support costs	56	62	56	62
Brooklyn Queens demand management program	36	36	36	36
Meadowlands heater odorization project	32	32	32	32
Preferred stock redemption	21	21	21	21
Unamortized loss on reacquired debt	19	21	18	19
Non-wire alternative projects	19	18	19	18
Gate station upgrade project	18	25	18	25
Recoverable REV demonstration project costs	18	20	17	18
Other	233	200	221	186
Regulatory assets – noncurrent	5,990	6,195	5,559	5,745
Deferred derivative losses	186	190	174	177
Recoverable energy costs	67	76	60	67
Regulatory assets – current	253	266	234	244
Total Regulatory Assets	$6,243	$6,461	$5,793	$5,989
Regulatory liabilities
Future income tax	$2,153	$2,207	$2,009	$2,062
Allowance for cost of removal less salvage	1,089	1,090	929	932
TCJA net benefits*	251	295	244	286
Net proceeds from sale of property	128	137	128	137
Net unbilled revenue deferrals	89	198	89	198
Pension and other postretirement benefit deferrals	89	85	48	46
Energy efficiency portfolio standard unencumbered funds	79	1	78	—
System benefit charge carrying charge	66	64	59	57
Property tax refunds	37	36	35	35
BQDM and REV Demo reconciliations	26	27	23	25
Sales and use tax refunds	17	16	15	16
Earnings sharing - electric, gas and steam	14	15	10	10
Settlement of gas proceedings	13	21	13	21
Unrecognized other postretirement costs	12	11	—	—
Settlement of prudence proceeding	6	5	6	5
Workers' compensation	3	3	3	3
Other	306	302	266	261
Regulatory liabilities – noncurrent	4,378	4,513	3,955	4,094
Refundable energy costs	58	28	33	4
Deferred derivative gains	27	8	25	7
Regulatory liabilities – current	85	36	58	11
Total Regulatory Liabilities	$4,463	$4,549	$4,013	$4,105

* See "Other Regulatory Matters," above.

Schedule of Regulatory Liabilities

Regulatory assets and liabilities at March 31, 2021 and December 31, 2020 were comprised of the following items:

	Con Edison		CECONY
(Millions of Dollars)	2021	2020	2021	2020
Regulatory assets
Unrecognized pension and other postretirement costs	$2,943	$3,241	$2,791	$3,065
Environmental remediation costs	858	865	786	791
Revenue taxes	369	356	353	342
Pension and other postretirement benefits deferrals	365	315	318	272
Property tax reconciliation	244	241	243	239
Deferred storm costs	238	195	119	83
MTA power reliability deferral	176	188	176	188
COVID-19 pandemic deferrals	142	115	139	113
System peak reduction and energy efficiency programs	106	124	105	124
Deferred derivative losses	97	120	91	111
Municipal infrastructure support costs	56	62	56	62
Brooklyn Queens demand management program	36	36	36	36
Meadowlands heater odorization project	32	32	32	32
Preferred stock redemption	21	21	21	21
Unamortized loss on reacquired debt	19	21	18	19
Non-wire alternative projects	19	18	19	18
Gate station upgrade project	18	25	18	25
Recoverable REV demonstration project costs	18	20	17	18
Other	233	200	221	186
Regulatory assets – noncurrent	5,990	6,195	5,559	5,745
Deferred derivative losses	186	190	174	177
Recoverable energy costs	67	76	60	67
Regulatory assets – current	253	266	234	244
Total Regulatory Assets	$6,243	$6,461	$5,793	$5,989
Regulatory liabilities
Future income tax	$2,153	$2,207	$2,009	$2,062
Allowance for cost of removal less salvage	1,089	1,090	929	932
TCJA net benefits*	251	295	244	286
Net proceeds from sale of property	128	137	128	137
Net unbilled revenue deferrals	89	198	89	198
Pension and other postretirement benefit deferrals	89	85	48	46
Energy efficiency portfolio standard unencumbered funds	79	1	78	—
System benefit charge carrying charge	66	64	59	57
Property tax refunds	37	36	35	35
BQDM and REV Demo reconciliations	26	27	23	25
Sales and use tax refunds	17	16	15	16
Earnings sharing - electric, gas and steam	14	15	10	10
Settlement of gas proceedings	13	21	13	21
Unrecognized other postretirement costs	12	11	—	—
Settlement of prudence proceeding	6	5	6	5
Workers' compensation	3	3	3	3
Other	306	302	266	261
Regulatory liabilities – noncurrent	4,378	4,513	3,955	4,094
Refundable energy costs	58	28	33	4
Deferred derivative gains	27	8	25	7
Regulatory liabilities – current	85	36	58	11
Total Regulatory Liabilities	$4,463	$4,549	$4,013	$4,105

* See "Other Regulatory Matters," above.

Schedule of Regulatory Assets Not Earning Return

Regulatory Assets Not Earning a Return*

	Con Edison		CECONY
(Millions of Dollars)	2021	2020	2021	2020
Unrecognized and other postretirement costs	$2,943	$3,241	$2,791	$3,065
Environmental remediation costs	847	855	776	781
Revenue taxes	350	336	336	323
Deferred derivative losses	97	120	91	111
Other	35	24	35	24
Deferred derivative losses - current	186	190	174	177
Total	$4,458	$4,766	$4,203	$4,481

*This table includes regulatory assets not earning a return for which no cash outlay has been made.