Regulatory Matters (Tables)

3 Months Ended

Mar. 31, 2023

Regulated Operations [Abstract]

Schedule of Regulatory Assets

Regulatory assets and liabilities at March 31, 2023 and December 31, 2022 were comprised of the following items:

 

	Con Edison		CECONY
(Millions of Dollars)	2023	2022	2023	2022
Regulatory assets
Unrecognized pension and other postretirement costs	$123	$78	$121	$78
Environmental remediation costs	986	991	902	906
Revenue taxes	453	436	433	417
Deferred storm costs	262	270	158	173
Municipal infrastructure support costs	29	29	29	29
Brooklyn Queens demand management program	32	33	32	33
Meadowlands heater odorization project	26	27	26	27
Recoverable Demonstration project costs	17	17	17	16
Gate station upgrade project	14	14	14	14
System peak reduction and energy efficiency programs	802	783	796	780
Unamortized loss on reacquired debt	10	11	9	10
Deferred derivative losses - long term	165	31	156	26
Property tax reconciliation	132	121	132	121
Legacy meters	20	20	—	—
Gas service line deferred costs	66	99	66	99
COVID - 19 customer arrears relief programs	441	104	436	101
Pension and other postretirement benefits deferrals	196	279	166	240
Preferred stock redemption	19	19	19	19
MTA power reliability deferral	84	92	84	92
Non-wire alternative projects	21	22	21	22
COVID - 19 pandemic deferrals	211	292	208	288
Electric vehicle make ready	39	33	36	30
Other	202	173	186	148
Regulatory assets – noncurrent	4,350	3,974	4,047	3,669
Deferred derivative losses - short term	199	184	190	178
Recoverable energy costs	52	121	41	108
Regulatory assets – current	251	305	231	286
Total Regulatory Assets	$4,601	$4,279	$4,278	$3,955
Regulatory liabilities
Future income tax*	$1,694	$1,753	$1,559	$1,616
Allowance for cost of removal less salvage	1,335	1,315	1,153	1,137
Net unbilled revenue deferrals	108	204	108	204
Energy efficiency portfolio standard unencumbered funds	5	5	7	7
Settlement of prudence proceeding	9	10	9	10
Earnings sharing - electric, gas and steam	14	13	10	10
System benefit charge carrying charge	76	73	74	69
BQDM and Demonstration project reconciliations	21	23	19	21
Pension and other postretirement benefit deferrals	161	144	115	98
Property tax refunds	35	35	35	35
COVID - 19 pandemic uncollectible reconciliation deferral	10	12	10	12
Late payment charge deferral	142	127	137	123
Unrecognized pension and other postretirement costs	1,405	1,638	1,316	1,536
Net proceeds from sale of property	65	69	63	69
Sales and use tax refunds	35	37	33	36
Workers’ compensation	12	11	12	11
Deferred derivative gains - long term	19	145	19	130
Other	391	413	338	357
Regulatory liabilities – noncurrent	$5,537	$6,027	$5,017	$5,481
Refundable energy costs	111	34	61	—
Revenue decoupling mechanism	5	29	2	21
Deferred derivative gains - short term	162	311	150	287
Regulatory liabilities – current	$278	$374	$213	$308
Total Regulatory Liabilities	$5,815	$6,401	$5,230	$5,789

* See "Other Regulatory Matters," above.

Schedule of Regulatory Liabilities

Regulatory assets and liabilities at March 31, 2023 and December 31, 2022 were comprised of the following items:

 

	Con Edison		CECONY
(Millions of Dollars)	2023	2022	2023	2022
Regulatory assets
Unrecognized pension and other postretirement costs	$123	$78	$121	$78
Environmental remediation costs	986	991	902	906
Revenue taxes	453	436	433	417
Deferred storm costs	262	270	158	173
Municipal infrastructure support costs	29	29	29	29
Brooklyn Queens demand management program	32	33	32	33
Meadowlands heater odorization project	26	27	26	27
Recoverable Demonstration project costs	17	17	17	16
Gate station upgrade project	14	14	14	14
System peak reduction and energy efficiency programs	802	783	796	780
Unamortized loss on reacquired debt	10	11	9	10
Deferred derivative losses - long term	165	31	156	26
Property tax reconciliation	132	121	132	121
Legacy meters	20	20	—	—
Gas service line deferred costs	66	99	66	99
COVID - 19 customer arrears relief programs	441	104	436	101
Pension and other postretirement benefits deferrals	196	279	166	240
Preferred stock redemption	19	19	19	19
MTA power reliability deferral	84	92	84	92
Non-wire alternative projects	21	22	21	22
COVID - 19 pandemic deferrals	211	292	208	288
Electric vehicle make ready	39	33	36	30
Other	202	173	186	148
Regulatory assets – noncurrent	4,350	3,974	4,047	3,669
Deferred derivative losses - short term	199	184	190	178
Recoverable energy costs	52	121	41	108
Regulatory assets – current	251	305	231	286
Total Regulatory Assets	$4,601	$4,279	$4,278	$3,955
Regulatory liabilities
Future income tax*	$1,694	$1,753	$1,559	$1,616
Allowance for cost of removal less salvage	1,335	1,315	1,153	1,137
Net unbilled revenue deferrals	108	204	108	204
Energy efficiency portfolio standard unencumbered funds	5	5	7	7
Settlement of prudence proceeding	9	10	9	10
Earnings sharing - electric, gas and steam	14	13	10	10
System benefit charge carrying charge	76	73	74	69
BQDM and Demonstration project reconciliations	21	23	19	21
Pension and other postretirement benefit deferrals	161	144	115	98
Property tax refunds	35	35	35	35
COVID - 19 pandemic uncollectible reconciliation deferral	10	12	10	12
Late payment charge deferral	142	127	137	123
Unrecognized pension and other postretirement costs	1,405	1,638	1,316	1,536
Net proceeds from sale of property	65	69	63	69
Sales and use tax refunds	35	37	33	36
Workers’ compensation	12	11	12	11
Deferred derivative gains - long term	19	145	19	130
Other	391	413	338	357
Regulatory liabilities – noncurrent	$5,537	$6,027	$5,017	$5,481
Refundable energy costs	111	34	61	—
Revenue decoupling mechanism	5	29	2	21
Deferred derivative gains - short term	162	311	150	287
Regulatory liabilities – current	$278	$374	$213	$308
Total Regulatory Liabilities	$5,815	$6,401	$5,230	$5,789

* See "Other Regulatory Matters," above.

Schedule of Regulatory Assets Not Earning Return

Regulatory Assets Not Earning a Return*

	Con Edison		CECONY
(Millions of Dollars)	2023	2022	2023	2022
Unrecognized pension and other postretirement costs	$123	$78	$121	$78
Environmental remediation costs	985	987	900	903
Revenue taxes	448	414	431	397
COVID-19 Deferral for Uncollectible Accounts Receivable	174	253	172	249
Deferred derivative losses - current	199	184	190	178
Deferred derivative losses - long term	165	31	156	26
Other	40	28	40	27
Total	$2,134	$1,975	$2,010	$1,858

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