Regulatory Assets and Liabilities

Regulatory assets and liabilities at June 30, 2013 and December 31, 2012 were comprised of the following items:


	Con Edison				CECONY
*(Millions of Dollars)*	2013		2012		2013		2012
Regulatory assets
Unrecognized pension and other postretirement costs		$5,227		$5,677		$4,985		$5,407
Future income tax		1,996		1,922		1,889		1,831
Environmental remediation costs		713		730		599		615
Deferred storm costs		454		432		336		309
Pension and other postretirement benefits deferrals		201		183		170		154
Revenue taxes		183		176		176		170
Net electric deferrals		92		102		92		102
Unamortized loss on reacquired debt		69		74		66		70
Surcharge for New York State assessment		55		73		53		68
Deferred derivative losses – long-term		41		40		20		20
O&R transition bond charges		36		39		—		—
Preferred stock redemption		29		29		29		29
Workers’ compensation		18		19		18		19
Property tax reconciliation		18		16		—		—
Other		172		193		162		178
Regulatory assets – long-term		9,304		9,705		8,595		8,972
Deferred derivative losses – current		55		69		51		60
Recoverable energy costs – current		1		5		—		—
Regulatory assets – current		56		74		51		60
Total Regulatory Assets		$9,360		$9,779		$8,646		$9,032
Regulatory liabilities
Allowance for cost of removal less salvage		$ 518		$ 503		$ 433		$ 420
Property tax reconciliation		273		187		273		187
Net unbilled revenue deferrals		137		136		137		136
Long-term interest rate reconciliation		83		62		83		62
World Trade Center settlement proceeds		62		62		62		62
Carrying charges on T&D net plant – electric and steam		26		31		14		13
Expenditure prudence proceeding		16		14		16		14
Other		278		207		251		183
Regulatory liabilities – long-term		1,393		1,202		1,269		1,077
Refundable energy costs – current		63		82		32		48
Revenue decoupling mechanism		23		72		21		68
Deferred derivative gains – current		2		—		1		—
Electric surcharge offset		—		29		—		29
Regulatory liabilities – current		88		183		54		145
Total Regulatory Liabilities		$1,481		$1,385		$1,323		$1,222