Regulatory Matters (Tables)

9 Months Ended

Sep. 30, 2022

Regulated Operations [Abstract]

Schedule of Regulatory Assets

Regulatory assets and liabilities at September 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	$919	$938	$840	$860
System peak reduction and energy efficiency programs	546	285	546	284
Pension and other postretirement benefits deferrals	369	496	325	435
Revenue taxes	428	395	409	378
COVID-19 pandemic deferrals	275	282	272	277
Deferred storm costs	270	276	168	158
Property tax reconciliation	142	202	140	202
MTA power reliability deferral	104	140	104	140
Gas Service Line Deferred Costs	107	100	107	100
COVID-19 arrears relief program deferral	91	—	88	—
Municipal infrastructure support costs	33	44	33	44
Brooklyn Queens demand management program	33	36	33	36
Deferred derivative losses - long term	32	51	27	45
Meadowlands heater odorization project	27	29	27	29
Unrecognized pension and other postretirement costs	24	128	10	110
Non-wire alternative projects	23	23	23	23
Legacy meters	20	2	—	—
Preferred stock redemption	19	20	19	20
Recoverable REV demonstration project costs	17	16	17	15
Gate station upgrade project	14	14	14	14
Unamortized loss on reacquired debt	12	16	11	14
Other	200	146	183	132
Regulatory assets – noncurrent	3,705	3,639	3,396	3,316
Deferred derivative losses - short term	91	141	88	133
Recoverable energy costs	191	65	183	55
Regulatory assets – current	282	206	271	188
Total Regulatory Assets	$3,987	$3,845	$3,667	$3,504
Regulatory liabilities
Future income tax	$1,819	$1,984	$1,681	$1,840
Allowance for cost of removal less salvage	1,238	1,199	1,063	1,033
Unrecognized pension and other postretirement costs	429	32	368	—
Net unbilled revenue deferrals	126	209	126	209
Deferred derivative gains - long term	152	61	134	55
Pension and other postretirement benefit deferrals	130	102	85	55
2022 Late Payment Charge Deferral	92	—	92	—
Net proceeds from sale of property	78	103	77	103
System benefit charge carrying charge	72	70	67	63
Property tax refunds	37	35	35	35
TCJA net benefits*	30	125	29	123
Sales and use tax refunds	28	17	27	16
BQDM and REV Demo reconciliations	24	25	21	22
COVID-19 pandemic uncollectible reconciliation deferral	20	—	19	—
Earnings sharing - electric, gas and steam	13	13	10	10
Workers' compensation	11	8	11	8
Settlement of prudence proceeding	6	6	6	6
Energy efficiency portfolio standard unencumbered funds	5	15	7	19
Settlement of gas proceedings	4	12	4	12
Other	403	365	353	312
Regulatory liabilities – noncurrent	4,717	4,381	4,215	3,921
Deferred derivative gains - short term	521	142	482	132
Refundable energy costs	34	32	4	2
Revenue decoupling mechanism	13	11	—	—
Regulatory liabilities – current	568	185	486	134
Total Regulatory Liabilities	$5,285	$4,566	$4,701	$4,055

* See "Other Regulatory Matters," above.

Schedule of Regulatory Liabilities

Regulatory assets and liabilities at September 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	$919	$938	$840	$860
System peak reduction and energy efficiency programs	546	285	546	284
Pension and other postretirement benefits deferrals	369	496	325	435
Revenue taxes	428	395	409	378
COVID-19 pandemic deferrals	275	282	272	277
Deferred storm costs	270	276	168	158
Property tax reconciliation	142	202	140	202
MTA power reliability deferral	104	140	104	140
Gas Service Line Deferred Costs	107	100	107	100
COVID-19 arrears relief program deferral	91	—	88	—
Municipal infrastructure support costs	33	44	33	44
Brooklyn Queens demand management program	33	36	33	36
Deferred derivative losses - long term	32	51	27	45
Meadowlands heater odorization project	27	29	27	29
Unrecognized pension and other postretirement costs	24	128	10	110
Non-wire alternative projects	23	23	23	23
Legacy meters	20	2	—	—
Preferred stock redemption	19	20	19	20
Recoverable REV demonstration project costs	17	16	17	15
Gate station upgrade project	14	14	14	14
Unamortized loss on reacquired debt	12	16	11	14
Other	200	146	183	132
Regulatory assets – noncurrent	3,705	3,639	3,396	3,316
Deferred derivative losses - short term	91	141	88	133
Recoverable energy costs	191	65	183	55
Regulatory assets – current	282	206	271	188
Total Regulatory Assets	$3,987	$3,845	$3,667	$3,504
Regulatory liabilities
Future income tax	$1,819	$1,984	$1,681	$1,840
Allowance for cost of removal less salvage	1,238	1,199	1,063	1,033
Unrecognized pension and other postretirement costs	429	32	368	—
Net unbilled revenue deferrals	126	209	126	209
Deferred derivative gains - long term	152	61	134	55
Pension and other postretirement benefit deferrals	130	102	85	55
2022 Late Payment Charge Deferral	92	—	92	—
Net proceeds from sale of property	78	103	77	103
System benefit charge carrying charge	72	70	67	63
Property tax refunds	37	35	35	35
TCJA net benefits*	30	125	29	123
Sales and use tax refunds	28	17	27	16
BQDM and REV Demo reconciliations	24	25	21	22
COVID-19 pandemic uncollectible reconciliation deferral	20	—	19	—
Earnings sharing - electric, gas and steam	13	13	10	10
Workers' compensation	11	8	11	8
Settlement of prudence proceeding	6	6	6	6
Energy efficiency portfolio standard unencumbered funds	5	15	7	19
Settlement of gas proceedings	4	12	4	12
Other	403	365	353	312
Regulatory liabilities – noncurrent	4,717	4,381	4,215	3,921
Deferred derivative gains - short term	521	142	482	132
Refundable energy costs	34	32	4	2
Revenue decoupling mechanism	13	11	—	—
Regulatory liabilities – current	568	185	486	134
Total Regulatory Liabilities	$5,285	$4,566	$4,701	$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	$24	$128	$10	$110
Environmental remediation costs	913	928	833	850
Revenue taxes	408	375	392	359
COVID-19 Deferral for Uncollectible Accounts Receivable	236	236	232	231
Deferred derivative losses - current	91	141	88	134
Deferred derivative losses - long term	32	51	27	45
Other	62	24	61	24
Total	$1,766	$1,883	$1,643	$1,753

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