Regulatory Matters (Tables)

6 Months Ended

Jun. 30, 2023

Regulatory assets and liabilities at June 30, 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	$123	$78

Environmental remediation costs	985	991	900	906
Revenue taxes	454	436	434	417
Deferred storm costs	239	270	143	173
Municipal infrastructure support costs	9	29	9	29

Brooklyn Queens demand management program	31	33	31	33
Meadowlands heater odorization project	25	27	25	27
Recoverable Demonstration project costs	18	17	17	16
Gate station upgrade project	14	14	14	14

System peak reduction and energy efficiency programs	832	783	825	780
Unamortized loss on reacquired debt	9	11	8	10
Deferred derivative losses - long term	65	31	60	26
Property tax reconciliation	146	121	146	121
Legacy meters	18	20	—	—
Gas service line deferred costs	54	99	54	99
COVID - 19 customer arrears relief programs	433	104	430	101
Pension and other postretirement benefits deferrals	116	279	93	240

Preferred stock redemption	19	19	19	19
MTA power reliability deferral	77	92	77	92
Non-wire alternative projects	20	22	20	22
COVID - 19 pandemic deferrals	285	292	281	288
Electric vehicle make ready	50	33	45	30
Other	202	173	190	148
Regulatory assets – noncurrent	4,224	3,974	3,944	3,669
Deferred derivative losses - short term	159	184	153	178
Recoverable energy costs	31	121	20	108
Regulatory assets – current	190	305	173	286
Total Regulatory Assets	$4,414	$4,279	$4,117	$3,955
Regulatory liabilities
Future income tax*	1,649	1,753	1,514	1,616
Allowance for cost of removal less salvage	1,346	1,315	1,162	1,137
Net unbilled revenue deferrals	158	204	158	204
Energy efficiency portfolio standard unencumbered funds	5	5	7	7
Settlement of prudence proceeding	8	10	8	10

Earnings sharing - electric, gas and steam	13	13	10	10
System benefit charge carrying charge	81	73	79	69
BQDM and Demonstration project reconciliations	19	23	17	21
Pension and other postretirement benefit deferrals	179	144	131	98
Property tax refunds	35	35	35	35

COVID - 19 pandemic uncollectible reconciliation deferral	9	12	9	12
Late payment charge deferral	150	127	145	123
Unrecognized pension and other postretirement costs	1,340	1,638	1,257	1,536
Net proceeds from sale of property	60	69	58	69
Sales and use tax refunds	32	37	30	36
Workers’ compensation	13	11	13	11
Deferred derivative gains - long term	28	145	26	130
Other	356	413	308	357
Regulatory liabilities – noncurrent	5,481	6,027	4,967	5,481
Refundable energy costs	49	34	19	—
Revenue decoupling mechanism	4	29	—	21
Deferred derivative gains - short term	101	311	93	287

Regulatory liabilities – current	154	374	112	308
Total Regulatory Liabilities	$5,635	$6,401	$5,079	$5,789

* See "Other Regulatory Matters," above.

Schedule of Regulatory Liabilities

Regulatory assets and liabilities at June 30, 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	$123	$78

Environmental remediation costs	985	991	900	906
Revenue taxes	454	436	434	417
Deferred storm costs	239	270	143	173
Municipal infrastructure support costs	9	29	9	29

Brooklyn Queens demand management program	31	33	31	33
Meadowlands heater odorization project	25	27	25	27
Recoverable Demonstration project costs	18	17	17	16
Gate station upgrade project	14	14	14	14

System peak reduction and energy efficiency programs	832	783	825	780
Unamortized loss on reacquired debt	9	11	8	10
Deferred derivative losses - long term	65	31	60	26
Property tax reconciliation	146	121	146	121
Legacy meters	18	20	—	—
Gas service line deferred costs	54	99	54	99
COVID - 19 customer arrears relief programs	433	104	430	101
Pension and other postretirement benefits deferrals	116	279	93	240

Preferred stock redemption	19	19	19	19
MTA power reliability deferral	77	92	77	92
Non-wire alternative projects	20	22	20	22
COVID - 19 pandemic deferrals	285	292	281	288
Electric vehicle make ready	50	33	45	30
Other	202	173	190	148
Regulatory assets – noncurrent	4,224	3,974	3,944	3,669
Deferred derivative losses - short term	159	184	153	178
Recoverable energy costs	31	121	20	108
Regulatory assets – current	190	305	173	286
Total Regulatory Assets	$4,414	$4,279	$4,117	$3,955
Regulatory liabilities
Future income tax*	1,649	1,753	1,514	1,616
Allowance for cost of removal less salvage	1,346	1,315	1,162	1,137
Net unbilled revenue deferrals	158	204	158	204
Energy efficiency portfolio standard unencumbered funds	5	5	7	7
Settlement of prudence proceeding	8	10	8	10

Earnings sharing - electric, gas and steam	13	13	10	10
System benefit charge carrying charge	81	73	79	69
BQDM and Demonstration project reconciliations	19	23	17	21
Pension and other postretirement benefit deferrals	179	144	131	98
Property tax refunds	35	35	35	35

COVID - 19 pandemic uncollectible reconciliation deferral	9	12	9	12
Late payment charge deferral	150	127	145	123
Unrecognized pension and other postretirement costs	1,340	1,638	1,257	1,536
Net proceeds from sale of property	60	69	58	69
Sales and use tax refunds	32	37	30	36
Workers’ compensation	13	11	13	11
Deferred derivative gains - long term	28	145	26	130
Other	356	413	308	357
Regulatory liabilities – noncurrent	5,481	6,027	4,967	5,481
Refundable energy costs	49	34	19	—
Revenue decoupling mechanism	4	29	—	21
Deferred derivative gains - short term	101	311	93	287

Regulatory liabilities – current	154	374	112	308
Total Regulatory Liabilities	$5,635	$6,401	$5,079	$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	$123	$78
Environmental remediation costs	985	987	900	903
Revenue taxes	449	414	431	397
COVID-19 Deferral for Uncollectible Accounts Receivable	205	253	202	249
Deferred derivative losses - current	159	184	153	178
Deferred derivative losses - long term	65	31	60	26
Other	53	28	52	27
Total	$2,039	$1,975	$1,921	$1,858

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