Regulatory Assets and Liabilities

Regulatory assets and liabilities at September 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		$5,011		$5,677		$4,779		$5,407
Future income tax		2,035		1,922		1,929		1,831
Environmental remediation costs		704		730		591		615
Deferred storm costs		451		432		340		309
Pension and other postretirement benefits deferrals		229		183		201		154
Revenue taxes		191		176		182		170
Surcharge for New York State assessment		119		73		113		68
Net electric deferrals		88		102		88		102
Unamortized loss on reacquired debt		67		74		64		70
Deferred derivative losses – long-term		34		40		13		20
O&R transition bond charges		34		39		—		—
Preferred stock redemption		28		29		28		29
Property tax reconciliation		20		16		—		—
Workers’ compensation		16		19		16		19
Other		163		193		153		178
Regulatory assets – long-term		9,190		9,705		8,497		8,972
Deferred derivative losses – current		45		69		42		60
Recoverable energy costs – current		1		5		—		—
Regulatory assets – current		46		74		42		60
Total Regulatory Assets		$9,236		$9,779		$8,539		$9,032
Regulatory liabilities
Allowance for cost of removal less salvage		$ 522		$ 503		$ 436		$ 420
Property tax reconciliation		290		187		290		187
Property tax refunds		130		7		129		6
Net unbilled revenue deferrals		104		136		104		136
Long-term interest rate reconciliation		94		62		94		62
World Trade Center settlement proceeds		62		62		62		62
Carrying charges on T&D net plant – electric and steam		30		31		20		13
Expenditure prudence proceeding		16		14		16		14
Other		309		200		280		177
Regulatory liabilities – long-term		1,557		1,202		1,431		1,077
Refundable energy costs – current		64		82		36		48
Revenue decoupling mechanism		51		72		49		68
Deferred derivative gains – current		2		—		1		—
Electric surcharge offset		—		29		—		29
Regulatory liabilities – current		117		183		86		145
Total Regulatory Liabilities		$1,674		$1,385		$1,517		$1,222