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Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2022
Fair Value Disclosures [Abstract]  
Assets and Liabilities Measured at Fair Value on Recurring Basis Assets and liabilities measured at fair value on a recurring basis as of September 30, 2022 and December 31, 2021 are summarized below.
 
  20222021
(Millions of Dollars)Level 1Level 2Level 3Netting
Adjustment (e)		TotalLevel 1Level 2Level 3Netting
Adjustment (e)		Total
Con Edison
Derivative assets:
Commodity (a)(b)(c)$189$610$37$(435)$401$95$260$17$(171)$201
Interest rate swaps (a)(b)(c)— 105 — — 105 — 4 — — 4 
Other (a)(b)(d)415116— — 531492135— — 627
Total assets$604$831$37$(435)$1,037$587$399$17$(171)$832
Derivative liabilities:
Commodity (a)(b)(c)$17$211$21$(148)$101$33$266$28$(148)$179
Interest rate swaps (a)(b)(c)— — — — —— 57— — 57
Total liabilities$17$211$21$(148)$101$33$323$28$(148)$236
CECONY
Derivative assets:
Commodity (a)(b)(c)$170$497$9$(350)$326$67$138$1$(79)$127
Other (a)(b)(d)400110— — 510474127— — 601
Total assets$570$607$9$(350)$836$541$265$1$(79)$728
Derivative liabilities:
Commodity (a)(b)(c)$5$144$9$(93)$65$1$172$8$(53)$128
Total liabilities$5$144$9$(93)$65$1$172$8$(53)$128
(a)The Companies’ policy is to review the fair value hierarchy and recognize transfers into and transfers out of the levels at the end of each reporting period. Con Edison and CECONY had $1 million of commodity derivative liabilities transferred from level 3 to level 2 during the nine months ended September 30, 2022 because of availability of observable market data due to the decrease in the terms of certain contracts from beyond three years as of March 31, 2022 to less than three years as of June 30, 2022. Con Edison and CECONY had $1 million of commodity derivative assets and $4 million and $3 million of commodity derivative liabilities, respectively, transferred from level 3 to level 2 during the year ended December 31, 2021 because of availability of observable market data due to the decrease in the terms of certain contracts from beyond three years as of September 30, 2021 to less than three years as of December 31, 2021.
(b)Level 2 assets and liabilities include investments held in the deferred compensation plan and/or non-qualified retirement plans, exchange-traded contracts where there is insufficient market liquidity to warrant inclusion in Level 1, and certain over-the-counter derivative instruments for electricity, refined products and natural gas. Derivative instruments classified as Level 2 are valued using industry standard
models that incorporate corroborated observable inputs, such as pricing services or prices from similar instruments that trade in liquid markets, time value and volatility factors.
(c)The accounting rules for fair value measurements and disclosures require consideration of the impact of nonperformance risk (including credit risk) from a market participant perspective in the measurement of the fair value of assets and liabilities. At September 30, 2022 and December 31, 2021, the Companies determined that nonperformance risk would have no material impact on their financial position or results of operations.
(d)Other assets are comprised of assets such as life insurance contracts within the deferred compensation plan and non-qualified retirement plans.
(e)Amounts represent the impact of legally-enforceable master netting agreements that allow the Companies to net gain and loss positions and cash collateral held or placed with the same counterparties.
Schedule of Commodity Derivatives
Fair Value of Level 3 at September 30, 2022Valuation
Techniques		Unobservable InputsRange
(Millions of Dollars)
Con Edison – Commodity
Electricity$17Discounted Cash FlowForward energy prices (a)
$22.25-$172.80 per MWh

(4)Discounted Cash FlowForward capacity prices (a)
$0.55-$7.26 per kW-month
Natural Gas—Discounted Cash FlowForward natural gas prices (a)
$3.75-$21.37 per Dt
Transmission Congestion Contracts/Financial Transmission Rights3Discounted Cash FlowInter-zonal forward price curves adjusted for historical zonal losses (b)
$(12.89)-$207.83 per MWh
Total Con Edison—Commodity$16   
CECONY – Commodity
Electricity$4Discounted Cash FlowForward energy prices (a)
$37.33-$172.80 per MWh
Electricity(6)Discounted Cash FlowForward capacity prices (a)
$1.10-$7.26 per kW-month
Transmission Congestion Contracts2Discounted Cash FlowInter-zonal forward price curves adjusted for historical zonal losses (b)
$1.03-$5.51 per MWh
Total CECONY—Commodity$—
(a)Generally, increases/(decreases) in this input in isolation would result in a higher/(lower) fair value measurement.
(b)Generally, increases/(decreases) in this input in isolation would result in a lower/(higher) fair value measurement.
Reconciliation of Beginning and Ending Net Balances for Assets and Liabilities Measured at Level 3 Fair Value
The table listed below provides a reconciliation of the beginning and ending net balances for assets and liabilities measured at fair value as of September 30, 2022 and 2021 and classified as Level 3 in the fair value hierarchy:
 
For the Three Months Ended September 30,
            Con Edison          CECONY
(Millions of Dollars)2022202120222021
Beginning balance as of July 1,$9$(9)$(11)$(7)
Included in earnings(10)21(1)1
Included in regulatory assets and liabilities14(17)11(11)
Purchases1— — —
Settlements2—1—
Ending balance as of September 30,$16$(5)$—$(17)
For the Nine Months Ended September 30,
            Con Edison          CECONY
(Millions of Dollars)2022202120222021
Beginning balance as of January 1,$(11)$(19)$(7)$(10)
Included in earnings1320(3)(2)
Included in regulatory assets and liabilities7(9)5(7)
Purchases3— — —
Settlements3342
Transfer out of level 31— 1— 
Ending balance as of September 30,$16$(5)$—$(17)