Regulatory Matters (Tables)

6 Months Ended

Jun. 30, 2022

Regulatory assets and liabilities at June 30, 2022 and December 31, 2021 were comprised of the following items:


	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Regulatory assets
Environmental remediation costs	$926	$938	$847	$860
System peak reduction and energy efficiency programs	426	285	431	284
Pension and other postretirement benefits deferrals	417	496	368	435
Revenue taxes	414	395	396	378
COVID-19 pandemic deferrals	313	282	305	277
Deferred storm costs	279	276	172	158
Property tax reconciliation	154	202	154	202
MTA power reliability deferral	116	140	116	140
Gas Service Line Deferred Costs	108	100	108	100
Deferred derivative losses - long term	81	51	73	45
Municipal infrastructure support costs	37	44	37	44
Brooklyn Queens demand management program	34	36	34	36
Meadowlands heater odorization project	28	29	28	29
Unrecognized pension and other postretirement costs	27	128	8	110
Non-wire alternative projects	23	23	23	23
Preferred stock redemption	20	20	20	20
Legacy meters	20	2	—	—
Recoverable REV demonstration project costs	19	16	18	15
Unamortized loss on reacquired debt	13	16	12	14
Gate station upgrade project	13	14	13	14
Other	191	146	173	132
Regulatory assets – noncurrent	3,659	3,639	3,336	3,316
Deferred derivative losses - short term	131	141	125	133
Recoverable energy costs	90	65	80	55
Regulatory assets – current	221	206	205	188
Total Regulatory Assets	$3,880	$3,845	$3,541	$3,504
Regulatory liabilities
Future income tax	$1,868	$1,984	$1,729	$1,840
Allowance for cost of removal less salvage	1,223	1,199	1,051	1,033
Unrecognized pension and other postretirement costs	346	32	283	—
Net unbilled revenue deferrals	157	209	157	209
Deferred derivative gains - long term	129	61	117	55
Pension and other postretirement benefit deferrals	120	102	75	55
Net proceeds from sale of property	86	103	86	103
System benefit charge carrying charge	69	70	66	63
TCJA net benefits*	62	125	60	123
Property tax refunds	35	35	35	35
Sales and use tax refunds	29	17	28	16
BQDM and REV Demo reconciliations	24	25	21	22
Earnings sharing - electric, gas and steam	13	13	10	10
Workers' compensation	10	8	10	8
Settlement of gas proceedings	9	12	9	12
Settlement of prudence proceeding	6	6	6	6
Energy efficiency portfolio standard unencumbered funds	5	15	7	19
Other	417	365	360	312
Regulatory liabilities – noncurrent	4,608	4,381	4,110	3,921
Deferred derivative gains - short term	491	142	451	132
Refundable energy costs	46	32	12	2
Revenue decoupling mechanism	18	11	—	—
Regulatory liabilities – current	555	185	463	134
Total Regulatory Liabilities	$5,163	$4,566	$4,573	$4,055

* See "Other Regulatory Matters," above.

Schedule of Regulatory Liabilities

Regulatory assets and liabilities at June 30, 2022 and December 31, 2021 were comprised of the following items:


	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Regulatory assets
Environmental remediation costs	$926	$938	$847	$860
System peak reduction and energy efficiency programs	426	285	431	284
Pension and other postretirement benefits deferrals	417	496	368	435
Revenue taxes	414	395	396	378
COVID-19 pandemic deferrals	313	282	305	277
Deferred storm costs	279	276	172	158
Property tax reconciliation	154	202	154	202
MTA power reliability deferral	116	140	116	140
Gas Service Line Deferred Costs	108	100	108	100
Deferred derivative losses - long term	81	51	73	45
Municipal infrastructure support costs	37	44	37	44
Brooklyn Queens demand management program	34	36	34	36
Meadowlands heater odorization project	28	29	28	29
Unrecognized pension and other postretirement costs	27	128	8	110
Non-wire alternative projects	23	23	23	23
Preferred stock redemption	20	20	20	20
Legacy meters	20	2	—	—
Recoverable REV demonstration project costs	19	16	18	15
Unamortized loss on reacquired debt	13	16	12	14
Gate station upgrade project	13	14	13	14
Other	191	146	173	132
Regulatory assets – noncurrent	3,659	3,639	3,336	3,316
Deferred derivative losses - short term	131	141	125	133
Recoverable energy costs	90	65	80	55
Regulatory assets – current	221	206	205	188
Total Regulatory Assets	$3,880	$3,845	$3,541	$3,504
Regulatory liabilities
Future income tax	$1,868	$1,984	$1,729	$1,840
Allowance for cost of removal less salvage	1,223	1,199	1,051	1,033
Unrecognized pension and other postretirement costs	346	32	283	—
Net unbilled revenue deferrals	157	209	157	209
Deferred derivative gains - long term	129	61	117	55
Pension and other postretirement benefit deferrals	120	102	75	55
Net proceeds from sale of property	86	103	86	103
System benefit charge carrying charge	69	70	66	63
TCJA net benefits*	62	125	60	123
Property tax refunds	35	35	35	35
Sales and use tax refunds	29	17	28	16
BQDM and REV Demo reconciliations	24	25	21	22
Earnings sharing - electric, gas and steam	13	13	10	10
Workers' compensation	10	8	10	8
Settlement of gas proceedings	9	12	9	12
Settlement of prudence proceeding	6	6	6	6
Energy efficiency portfolio standard unencumbered funds	5	15	7	19
Other	417	365	360	312
Regulatory liabilities – noncurrent	4,608	4,381	4,110	3,921
Deferred derivative gains - short term	491	142	451	132
Refundable energy costs	46	32	12	2
Revenue decoupling mechanism	18	11	—	—
Regulatory liabilities – current	555	185	463	134
Total Regulatory Liabilities	$5,163	$4,566	$4,573	$4,055

* See "Other Regulatory Matters," above.

Schedule of Regulatory Assets Not Earning Return

Regulatory Assets Not Earning a Return*


	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Unrecognized pension and other postretirement costs	$27	$128	$8	$110
Environmental remediation costs	916	928	837	850
Revenue taxes	393	375	377	359
COVID-19 Deferral for Uncollectible Accounts Receivable	274	236	266	231
Deferred derivative losses - current	131	141	125	134
Deferred derivative losses - long term	81	51	73	45
Other	50	24	49	24
Total	$1,872	$1,883	$1,735	$1,753

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