Document and Entity Information	3 Months Ended
Document and Entity Information	Mar. 31, 2011	Apr. 29, 2011
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2011
Document Fiscal Year Focus	2011
Document Fiscal Period Focus	Q1
Trading Symbol	ED
Entity Registrant Name	CONSOLIDATED EDISON INC
Entity Central Index Key	0001047862
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		292,577,516
CONSOLIDATED EDISON CO OF NEW YORK INC [Member]
Entity Registrant Name	CONSOLIDATED EDISON CO OF NEW YORK INC
Entity Central Index Key	0000023632
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer

Consolidated Income Statement (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2011	Mar. 31, 2010
OPERATING REVENUES
Electric	$ 1,869	$ 1,889
Gas	755	773
Steam	325	307
Non-utility	400	493
TOTAL OPERATING REVENUES	3,349	3,462
OPERATING EXPENSES
Purchased power	865	1,143
Fuel	176	150
Gas purchased for resale	308	343
Other operations and maintenance	698	702
Depreciation and amortization	218	204
Taxes, other than income taxes	458	428
TOTAL OPERATING EXPENSES	2,723	2,970
OPERATING INCOME	626	492
OTHER INCOME (DEDUCTIONS)
Investment and other income	9	6
Allowance for equity funds used during construction	4	5
Other deductions	(4)	(3)
TOTAL OTHER INCOME (DEDUCTIONS)	9	8
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE	635	500
INTEREST EXPENSE
Interest on long-term debt	147	150
Other interest	7	2
Allowance for borrowed funds used during construction	(2)	(3)
NET INTEREST EXPENSE	152	149
INCOME BEFORE INCOME TAX EXPENSE	483	351
INCOME TAX EXPENSE	169	122
NET INCOME	314	229
Preferred stock dividend requirements of subsidiary	(3)	(3)
NET INCOME FOR COMMON STOCK	311	226
EARNINGS PER COMMON SHARE - BASIC
Net income for common stock	$ 1.07	$ 0.80
EARNINGS PER COMMON SHARE - DILUTED
Net income for common stock	$ 1.06	$ 0.80
DIVIDENDS DECLARED PER SHARE OF COMMON STOCK	$ 0.6	$ 0.595
AVERAGE NUMBER OF SHARES OUTSTANDING - BASIC (IN MILLIONS)	292.0	281.4
AVERAGE NUMBER OF SHARES OUTSTANDING - DILUTED (IN MILLIONS)	293.6	282.7
CECONY [Member]
OPERATING REVENUES
Electric	1,721	1,728
Gas	663	683
Steam	325	307
TOTAL OPERATING REVENUES	2,709	2,718
OPERATING EXPENSES
Purchased power	483	552
Fuel	176	150
Gas purchased for resale	263	294
Other operations and maintenance	597	608
Depreciation and amortization	204	191
Taxes, other than income taxes	440	411
TOTAL OPERATING EXPENSES	2,163	2,206
OPERATING INCOME	546	512
OTHER INCOME (DEDUCTIONS)
Investment and other income	5	3
Allowance for equity funds used during construction	3	4
Other deductions	(3)	(2)
TOTAL OTHER INCOME (DEDUCTIONS)	5	5
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE	551	517
INTEREST EXPENSE
Interest on long-term debt	132	135
Other interest	5	3
Allowance for borrowed funds used during construction	(2)	(2)
NET INTEREST EXPENSE	135	136
INCOME BEFORE INCOME TAX EXPENSE	416	381
INCOME TAX EXPENSE	145	135
NET INCOME	271	246
Preferred stock dividend requirements of subsidiary	(3)	(3)
NET INCOME FOR COMMON STOCK	$ 268	$ 243

Consolidated Statement of Cash Flows (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2011	Mar. 31, 2010
OPERATING ACTIVITIES
Net Income	$ 314	$ 229
PRINCIPAL NON-CASH CHARGES/(CREDITS) TO INCOME
Depreciation and amortization	218	204
Deferred income taxes	232	37
Common equity component of allowance for funds used during construction	(4)	(5)
Net derivative (gains)/losses	(37)	64
Other non-cash items (net)	2	104
CHANGES IN ASSETS AND LIABILITIES
Accounts receivable - customers, less allowance for uncollectibles	(5)	(139)
Materials and supplies, including fuel oil and gas in storage	103	52
Other receivables and other current assets	66	8
Prepayments	(217)	(289)
Refundable energy costs		(69)
Accounts payable	(154)	(100)
Pensions and retiree benefits	(232)	58
Accrued taxes	(20)	70
Accrued interest	51	44
Deferred charges, deferred derivative losses, noncurrent assets and other regulatory assets	(19)	(502)
Deferred credits and other regulatory liabilities	67	178
Other assets	(1)	(3)
Other liabilities	(2)	60
NET CASH FLOWS FROM OPERATING ACTIVITIES	362	1
INVESTING ACTIVITIES
Utility construction expenditures	(398)	(430)
Cost of removal less salvage	(39)	(34)
Non-utility construction expenditures	(23)	(1)
Loan to affiliate	(40)
Common equity component of allowance for funds used during construction	4	5
NET CASH FLOWS USED IN INVESTING ACTIVITIES	(496)	(460)
FINANCING ACTIVITIES
Net proceeds from short-term debt	464	475
Retirement of long-term debt	(1)	(45)
Issuance of common stock	25	14
Common stock dividends	(173)	(155)
Preferred stock dividends	(3)	(3)
NET CASH FLOWS FROM FINANCING ACTIVITIES	312	286
CASH AND TEMPORARY CASH INVESTMENTS:
NET CHANGE FOR THE PERIOD	178	(173)
BALANCE AT BEGINNING OF PERIOD	338	260
BALANCE AT END OF PERIOD	516	87
Cash paid/(refunded) during the period for:
Interest	90	103
Income taxes	(172)
CECONY [Member]
OPERATING ACTIVITIES
Net Income	271	246
PRINCIPAL NON-CASH CHARGES/(CREDITS) TO INCOME
Depreciation and amortization	204	191
Deferred income taxes	207	64
Common equity component of allowance for funds used during construction	(3)	(4)
Other non-cash items (net)	29	29
CHANGES IN ASSETS AND LIABILITIES
Accounts receivable - customers, less allowance for uncollectibles	22	(110)
Materials and supplies, including fuel oil and gas in storage	84	38
Other receivables and other current assets	(77)	99
Prepayments	(291)	(284)
Refundable energy costs		(77)
Accounts payable	(119)	(77)
Pensions and retiree benefits	(255)	39
Accrued taxes	(37)	(4)
Accrued interest	44	35
Deferred charges, deferred derivative losses, noncurrent assets and other regulatory assets	(63)	(346)
Deferred credits and other regulatory liabilities	52	134
Other liabilities	4	49
NET CASH FLOWS FROM OPERATING ACTIVITIES	72	22
INVESTING ACTIVITIES
Utility construction expenditures	(379)	(412)
Cost of removal less salvage	(37)	(33)
Common equity component of allowance for funds used during construction	3	4
NET CASH FLOWS USED IN INVESTING ACTIVITIES	(413)	(441)
FINANCING ACTIVITIES
Net proceeds from short-term debt	464	475
Capital contribution by parent		12
Common stock dividends	(170)	(167)
Preferred stock dividends	(3)	(3)
NET CASH FLOWS FROM FINANCING ACTIVITIES	291	317
CASH AND TEMPORARY CASH INVESTMENTS:
NET CHANGE FOR THE PERIOD	(50)	(102)
BALANCE AT BEGINNING OF PERIOD	78	131
BALANCE AT END OF PERIOD	28	29
Cash paid/(refunded) during the period for:
Interest	82	96
Income taxes	$ 35

Consolidated Balance Sheet (USD $) In Millions, unless otherwise specified	Mar. 31, 2011	Dec. 31, 2010
CURRENT ASSETS
Cash and temporary cash investments	$ 516	$ 338
Accounts receivable - customers, less allowance for uncollectible accounts	1,178	1,173
Accrued unbilled revenue	413	633
Other receivables, less allowance for uncollectible accounts	331	300
Fuel oil, gas in storage, materials and supplies, at average cost	245	348
Prepayments	558	341
Regulatory assets	147	203
Other current assets	202	171
TOTAL CURRENT ASSETS	3,590	3,507
INVESTMENTS	413	403
UTILITY PLANT, AT ORIGINAL COST
Electric	20,273	19,851
Gas	4,392	4,344
Steam	2,055	2,038
General	1,899	1,911
TOTAL	28,619	28,144
Less: Accumulated depreciation	5,891	5,808
Net	22,728	22,336
Construction work in progress	1,253	1,458
NET UTILITY PLANT	23,981	23,794
NON-UTILITY PLANT
Non-utility property, less accumulated depreciation	50	46
Construction work in progress	37	23
NET PLANT	24,068	23,863
OTHER NONCURRENT ASSETS
Goodwill	429	429
Intangible assets, less accumulated amortization $3 in 2011 and 2010	3	3
Regulatory assets	7,374	7,643
Other deferred charges and noncurrent assets	309	298
TOTAL OTHER NONCURRENT ASSETS	8,115	8,373
TOTAL ASSETS	36,186	36,146
CURRENT LIABILITIES
Long-term debt due within one year	5	5
Notes payable	464
Accounts payable	967	1,151
Customer deposits	296	289
Accrued taxes	70	90
Accrued interest	206	155
Accrued wages	94	102
Fair value of derivative liabilities	117	125
Other current liabilities	457	449
TOTAL CURRENT LIABILITIES	2,676	2,366
NONCURRENT LIABILITIES
Obligations under capital leases	5	7
Provision for injuries and damages	167	165
Pensions and retiree benefits	2,659	3,287
Superfund and other environmental costs	511	512
Asset retirement obligations	111	109
Fair value of derivative liabilities	52	77
Other noncurrent liabilities	121	126
TOTAL NONCURRENT LIABILITIES	3,626	4,283
DEFERRED CREDITS AND REGULATORY LIABILITIES
Deferred income taxes and investment tax credits	6,871	6,602
Regulatory liabilities	865	915
Other deferred credits	34	35
TOTAL DEFERRED CREDITS AND REGULATORY LIABILITIES	7,770	7,552
LONG-TERM DEBT	10,670	10,671
SHAREHOLDER'S EQUITY
Common shareholder's equity (See Statement of Common Shareholder's Equity)	11,231	11,061
Preferred stock of subsidiary	213	213
TOTAL SHAREHOLDER'S EQUITY	11,444	11,274
TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY	36,186	36,146
CECONY [Member]
CURRENT ASSETS
Cash and temporary cash investments	28	78
Accounts receivable - customers, less allowance for uncollectible accounts	1,003	1,025
Accrued unbilled revenue	288	473
Other receivables, less allowance for uncollectible accounts	122	103
Accounts receivable from affiliated companies	310	249
Fuel oil, gas in storage, materials and supplies, at average cost	222	306
Prepayments	373	82
Regulatory assets	116	151
Other current assets	108	98
TOTAL CURRENT ASSETS	2,570	2,565
INVESTMENTS	177	167
UTILITY PLANT, AT ORIGINAL COST
Electric	19,140	18,735
Gas	3,891	3,844
Steam	2,055	2,038
General	1,731	1,746
TOTAL	26,817	26,363
Less: Accumulated depreciation	5,389	5,314
Net	21,428	21,049
Construction work in progress	1,143	1,345
NET UTILITY PLANT	22,571	22,394
NON-UTILITY PLANT
Non-utility property, less accumulated depreciation	7	7
NET PLANT	22,578	22,401
OTHER NONCURRENT ASSETS
Regulatory assets	6,813	7,058
Other deferred charges and noncurrent assets	258	244
TOTAL OTHER NONCURRENT ASSETS	7,071	7,302
TOTAL ASSETS	32,396	32,435
CURRENT LIABILITIES
Notes payable	464
Accounts payable	771	924
Accounts payable to affiliated companies	15	13
Customer deposits	283	276
Accrued taxes	17	34
Accrued taxes to affiliated companies	9	29
Accrued interest	174	130
Accrued wages	87	93
Other current liabilities	452	460
TOTAL CURRENT LIABILITIES	2,272	1,959
NONCURRENT LIABILITIES
Obligations under capital leases	5	7
Provision for injuries and damages	160	159
Pensions and retiree benefits	2,280	2,900
Superfund and other environmental costs	392	392
Asset retirement obligations	111	109
Fair value of derivative liabilities	22	29
Other noncurrent liabilities	113	116
TOTAL NONCURRENT LIABILITIES	3,083	3,712
DEFERRED CREDITS AND REGULATORY LIABILITIES
Deferred income taxes and investment tax credits	6,309	6,071
Regulatory liabilities	724	783
Other deferred credits	31	31
TOTAL DEFERRED CREDITS AND REGULATORY LIABILITIES	7,064	6,885
LONG-TERM DEBT	9,743	9,743
SHAREHOLDER'S EQUITY
Common shareholder's equity (See Statement of Common Shareholder's Equity)	10,021	9,923
Preferred stock of subsidiary	213	213
TOTAL SHAREHOLDER'S EQUITY	10,234	10,136
TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY	$ 32,396	$ 32,435

Consolidated Balance Sheet (Parenthetical) (USD $) In Millions, unless otherwise specified	Mar. 31, 2011	Dec. 31, 2010
Accounts receivable-customers, allowance for uncollectible accounts	$ 81	$ 76
Other receivables, allowance for uncollectible accounts	9	8
Non-utility property, accumulated depreciation	53	51
Intangible assets, accumulated amortization	3	3
CECONY [Member]
Accounts receivable-customers, allowance for uncollectible accounts	73	68
Other receivables, allowance for uncollectible accounts	8	7
Non-utility property, accumulated depreciation	$ 22	$ 22

Consolidated Statement of Comprehensive Income (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2011	Mar. 31, 2010
Consolidated Statement of Comprehensive Income
NET INCOME	$ 314	$ 229
OTHER COMPREHENSIVE INCOME, NET OF TAXES
Pension plan liability adjustments, net of taxes	3	3
TOTAL OTHER COMPREHENSIVE INCOME, NET OF TAXES	3	3
COMPREHENSIVE INCOME	317	232
Preferred stock dividend requirements of subsidiary	(3)	(3)
COMPREHENSIVE INCOME FOR COMMON STOCK	$ 314	$ 229

- Definition

The portion of consolidated profit or loss for the period, net of income taxes, which is attributable to the parent. If the entity does not present consolidated financial statements, the amount of profit or loss for the period, net of income taxes.

+ References+ Details

Consolidated Statement of Common Shareholders' Equity (USD $) In Millions, except Share data	Total	Common Stock [Member]	Additional Paid- In Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Capital Stock Expense [Member]	Accumulated Other Comprehensive Income/(Loss) [Member]	CECONY [Member]	CECONY [Member] Common Stock [Member]	CECONY [Member] Additional Paid- In Capital [Member]	CECONY [Member] Retained Earnings [Member]	CECONY [Member] Repurchased Con Edison Stock [Member]	CECONY [Member] Capital Stock Expense [Member]	CECONY [Member] Accumulated Other Comprehensive Income/(Loss) [Member]
BEGINNING BALANCE at Dec. 31, 2009	$ 10,249	$ 30	$ 4,420	$ 6,904	$ (1,001)	$ (62)	$ (42)	$ 9,347	$ 589	$ 3,877	$ 5,909	$ (962)	$ (62)	$ (4)
BEGINNING BALANCE (in shares) at Dec. 31, 2009		281,123,741			23,210,700				235,488,094
Net Income	229							246			246
Capital contribution by parent								12		12
Net income for common stock	226			226				243
Common stock dividend	(167)			(167)				(167)			(167)
Cumulative preferred dividends								(3)			(3)
Issuance of common shares-dividend reinvestment and employee stock plans (in shares)		647,731
Issuance of common shares-dividend reinvestment and employee stock plans	28		28
Other comprehensive income (loss)	3						3
ENDING BALANCE at Mar. 31, 2010	10,339	30	4,448	6,963	(1,001)	(62)	(39)	9,435	589	3,889	5,985	(962)	(62)	(4)
ENDING BALANCE (in shares) at Mar. 31, 2010		281,771,472			23,210,700				235,488,094
BEGINNING BALANCE at Dec. 31, 2010	11,061	31	4,915	7,220	(1,001)	(64)	(40)	9,923	589	4,234	6,132	(962)	(64)	(6)
BEGINNING BALANCE (in shares) at Dec. 31, 2010		291,616,334			23,210,700				235,488,094
Net Income	314							271			271
Net income for common stock	311			311				268
Common stock dividend	(175)			(175)				(170)			(170)
Cumulative preferred dividends								(3)			(3)
Issuance of common shares-dividend reinvestment and employee stock plans (in shares)		656,049
Issuance of common shares-dividend reinvestment and employee stock plans	31	1	30
Other comprehensive income (loss)	3						3
ENDING BALANCE at Mar. 31, 2011	$ 11,231	$ 32	$ 4,945	$ 7,356	$ (1,001)	$ (64)	$ (37)	$ 10,021	$ 589	$ 4,234	$ 6,230	$ (962)	$ (64)	$ (6)
ENDING BALANCE (in shares) at Mar. 31, 2011		292,272,383			23,210,700				235,488,094

General	3 Months Ended
General	Mar. 31, 2011
General
General	NOTES TO THE FINANCIAL STATEMENTS (UNAUDITED) General These combined notes accompany and form an integral part of the separate consolidated financial statements of each of the two separate registrants: Consolidated Edison, Inc. and its subsidiaries (Con Edison) and Consolidated Edison Company of New York, Inc. and its subsidiaries (CECONY). CECONY is a subsidiary of Con Edison and as such its financial condition and results of operations and cash flows, which are presented separately in the CECONY consolidated financial statements, are also consolidated, along with those of Con Edison's other utility subsidiary, Orange and Rockland Utilities, Inc. (O&R), and Con Edison's competitive energy businesses (discussed below) in Con Edison's consolidated financial statements. The term "Utilities" is used in these notes to refer to CECONY and O&R. As used in these notes, the term "Companies" refers to Con Edison and CECONY and, except as otherwise noted, the information in these combined notes relates to each of the Companies. However, CECONY makes no representation as to information relating to Con Edison or the subsidiaries of Con Edison other than itself. The separate interim consolidated financial statements of each of the Companies are unaudited but, in the opinion of their respective managements, reflect all adjustments (which include only normally recurring adjustments) necessary for a fair presentation of the results for the interim periods presented. The Companies' separate interim consolidated financial statements should be read together with their separate audited financial statements (including the combined notes thereto) included in Item 8 of their combined Annual Report on Form 10-K for the year ended December 31, 2010 (the Form 10-K). Information in the notes to the consolidated financial statements in the Form 10-K referred to in these notes is incorporated by reference herein. The use of terms such as "see" or "refer to" shall be deemed to incorporate by reference into these notes the information to which reference is made. Con Edison has two regulated utility subsidiaries: CECONY and O&R. CECONY provides electric service and gas service in New York City and Westchester County. The company also provides steam service in parts of Manhattan. O&R, along with its regulated utility subsidiaries, provides electric service in southeastern New York and adjacent areas of northern New Jersey and eastern Pennsylvania and gas service in southeastern New York and adjacent areas of eastern Pennsylvania. Con Edison has the following competitive energy businesses: Consolidated Edison Solutions, Inc. (Con Edison Solutions), a retail energy services company that sells electricity and also offers energy-related services; Consolidated Edison Energy, Inc. (Con Edison Energy), a wholesale energy supply and services company; and Consolidated Edison Development, Inc. (Con Edison Development), a company that develops and participates in infrastructure projects.

Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2011

Summary of Significant Accounting Policies

Summary of Significant Accounting Policies

Note A — Summary of Significant Accounting Policies

Earnings Per Common Share

Reference is made to "Earnings Per Common Share" in Note A to the financial statements included in Item 8 of the Form 10-K. For the three months ended March 31, 2011 and 2010, Con Edison's basic and diluted EPS for Con Edison are calculated as follows:


(Millions of Dollars, except per share amounts/Shares in Millions)	2011		2010
Net income for common stock	$	311	$	226
Weighted average common shares outstanding – Basic		292.0		281.4
Add: Incremental shares attributable to effect of potentially dilutive securities		1.6		1.3
Adjusted weighted average common shares outstanding – Diluted		293.6		282.7
Earnings per Common Share – Basic
Net income for common stock	$	1.07	$	0.80
Earnings per Common Share – Diluted
Net income for common stock	$	1.06	$	0.80

Regulatory Matters

3 Months Ended

Mar. 31, 2011

Regulatory Matters

Regulatory Matters

Note B — Regulatory Matters

Reference is made to "Accounting Policies" in Note A and "Rate Agreements" in Note B to the financial statements included in Item 8 of the Form 10-K.

Rate Agreements

O&R — Electric

In April 2011, NYSPSC administrative law judges (ALJ) issued a recommended decision with respect to O&R's July 2010 electric rate filing recommending that the NYSPSC grant the company a $26.6 million rate increase, effective July 2011. The ALJ's recommended decision reflects a return on common equity of 9.2 percent and a common equity ratio of 49 percent. See "Regulatory Matters – O&R – Electric" in Note B to the financial statements in Item 8 of the Form 10-K.

Other Regulatory Matters

In February 2009, the NYSPSC commenced a proceeding to examine the prudence of certain CECONY expenditures (see "Investigations of Vendor Payments" in Note G). Pursuant to NYSPSC orders, a portion of the company's revenues (currently, $249 million, $32 million and $6 million on an annual basis for electric, gas and steam service, respectively) is being collected subject to potential refund to customers. At March 31, 2011, the company had collected an estimated $605 million from customers subject to potential refund in connection with this proceeding. In October 2010, a NYSPSC consultant reported its $21 million provisional assessment, which the company has disputed, of potential overcharges for construction work. The potential overcharges related to transactions that involved certain employees who were arrested and a contractor that performed work for the company. The NYSPSC's consultant is expected to continue to review the company's expenditures. The company is unable to estimate the amount, if any, of any such refund and, accordingly, has not established a regulatory liability for a refund.

In February 2011, the NYSPSC initiated a proceeding to examine the existing mechanisms pursuant to which utilities recover site investigation and remediation costs and possible alternatives. See Note G to the financial statements in Item 8 of the Form 10-K and Note F to the First Quarter Financial Statements.

Regulatory Assets and Liabilities

Regulatory assets and liabilities at March 31, 2011 and December 31, 2010 were comprised of the following items:


	Con Edison				CECONY
*(Millions of Dollars)*	2011		2010		2011		2010
Regulatory assets
Unrecognized pension and other postretirement costs	$	4,074	$	4,371	$	3,873	$	4,152
Future federal income tax		1,622		1,593		1,542		1,515
Environmental remediation costs		693		695		573		574
Surcharge for New York State Assessment		159		121		148		112
Net electric deferrals		134		156		134		156
Pension and other post retirement benefits deferrals		183		138		138		90
Revenue taxes		152		145		147		140
Deferred derivative losses – long-term		57		74		37		48
Deferred storm costs		55		57		42		43
Property tax reconciliation		32		34		23		27
O&R transition bond charges		48		48		—		—
World Trade Center restoration costs		—		45		—		45
Workers' compensation		33		31		33		31
Other		132		135		123		125
Regulatory assets – long-term		7,374		7,643		6,813		7,058
Deferred derivative losses – current		146		190		116		151
Recoverable energy costs – current		1		13		—		—
Regulatory assets – current		147		203		116		151
Total Regulatory Assets	$	7,521	$	7,846	$	6,929	$	7,209
Regulatory liabilities
Allowance for cost of removal less salvage	$	422	$	422	$	349	$	350
Refundable energy costs		91		78		61		50
Revenue decoupling mechanism		54		38		54		38
Net unbilled revenue deferrals		33		136		33		136
New York State tax refund		30		30		30		30
Gain on sale of properties		15		31		15		31
Other		220		180		182		148
Regulatory liabilities		865		915		724		783
Deferred derivative gains – current		10		4		8		3
Total Regulatory Liabilities	$	875	$	919	$	732	$	786

Short-Term Borrowing	3 Months Ended
Short-Term Borrowing	Mar. 31, 2011
Short-term Borrowing
Short-Term Borrowing	Note C — Short-Term Borrowing Reference is made to Note D to the financial statements in Item 8 of the Form 10-K. At March 31, 2011, Con Edison had $464 million of commercial paper outstanding, all of which was outstanding under CECONY's program. The weighted average interest rate was 0.3 percent. At December 31, 2010, Con Edison and CECONY had no commercial paper outstanding. At March 31, 2011 and December 31, 2010, no loans were outstanding under the Companies' Credit Agreement and $192 million (including $142 million for CECONY) and $197 million (including $145 million for CECONY) of letters of credit were outstanding under the Credit Agreement, respectively.

Pension Benefits

3 Months Ended

Mar. 31, 2011

Pension Benefits

Pension Benefits

Note D — Pension Benefits

Reference is made to Note E to the financial statements in Item 8 of the Form 10-K.

Net Periodic Benefit Cost

The components of the Companies' net periodic benefit costs for the three months ended March 31, 2011 and 2010 were as follows:


	Con Edison						CECONY
*(Millions of Dollars)*	2011			2010			2011			2010
Service cost – including administrative expenses	$	47		$	42		$	44		$	39
Interest cost on projected benefit obligation		140			139			131			130
Expected return on plan assets		(183	)		(176	)		(175	)		(167	)
Amortization of net actuarial loss		132			106			125			100
Amortization of prior service costs		2			2			2			2
NET PERIODIC BENEFIT COST	$	138		$	113		$	127		$	104
TOTAL PERIODIC BENEFIT COST	$	138		$	113		$	127		$	104
Cost capitalized		(48	)		(41	)		(45	)		(39	)
Cost deferred		(51	)		(23	)		(52	)		(21	)
Cost charged to operating expenses	$	39		$	49		$	30		$	44

Expected Contributions

Based on estimates as of March 31, 2011, the Companies are not required under funding regulations and laws to make any contributions to the pension plan during 2011. The Companies' policy is to fund their accounting cost to the extent tax deductible. In 2011, Con Edison expects to make discretionary contributions to the pension plan of $533 million, of which CECONY contributed $491 million during the first quarter. The Companies also expect to fund $11 million for their non-qualified supplemental pension plans in 2011.

- Definition

Description containing the entire pension and other postretirement benefits disclosure as a single block of text.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 158

-Paragraph 7, 21, 22

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 132R

-Paragraph 5, 6, 7, 8

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 132R

-Paragraph 8

-Subparagraph m

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 106

-Paragraph 518

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 87

-Paragraph 264

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 132R

-Paragraph 5

-Subparagraph b

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 132R

-Paragraph 5

-Subparagraph a

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 132R

-Paragraph 5

-Subparagraph h

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 132R

-Paragraph 5

-Subparagraph q

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name FASB Staff Position (FSP)

-Number FAS106-2

-Paragraph 20, 21, 22

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 03-2

-Paragraph 8

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 30

-Paragraph 26

Reference 13: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Implementation Guide (Q and A)

-Number FAS88

-Paragraph 63

+ Details

Other Postretirement Benefits

3 Months Ended

Mar. 31, 2011

Other Postretirement Benefits

Other Postretirement Benefits

Note E — Other Postretirement Benefits

Reference is made to Note F to the financial statements in Item 8 of the Form 10-K.

Net Periodic Benefit Cost

The components of the Companies' net periodic postretirement benefit costs for the three months ended March 31, 2011 and 2010 were as follows:


	Con Edison						CECONY
*(Millions of Dollars)*	2011			2010			2011			2010
Service cost	$	6		$	6		$	5		$	5
Interest cost on accumulated other postretirement benefit obligation		21			23			18			20
Expected return on plan assets		(22	)		(22	)		(19	)		(19	)
Amortization of net actuarial loss		22			23			20			21
Amortization of prior service cost		(2	)		(3	)		(3	)		(4	)
Amortization of transition obligation		1			1			1			1
NET PERIODIC POSTRETIREMENT BENEFIT COST	$	26		$	28		$	22		$	24
Cost capitalized		(9	)		(10	)		(8	)		(9	)
Cost deferred		4			(1	)		3			(2	)
Cost charged to operating expenses	$	21		$	17		$	17		$	13

Expected Contributions

Based on estimates as of March 31, 2011, Con Edison expects to make a contribution of $84 million, including $74 million for CECONY, to the other postretirement benefit plans in 2011.

Environmental Matters

3 Months Ended

Mar. 31, 2011

Environmental Matters

Environmental Matters

Note F — Environmental Matters

Superfund Sites

Hazardous substances, such as asbestos, polychlorinated biphenyls (PCBs) and coal tar, have been used or generated in the course of operations of the Utilities and their predecessors and are present at sites and in facilities and equipment they currently or previously owned, including sites at which gas was manufactured or stored.

The Federal Comprehensive Environmental Response, Compensation and Liability Act of 1980 and similar state statutes (Superfund) impose joint and several liability, regardless of fault, upon generators of hazardous substances for investigation and remediation costs (which include costs of demolition, removal, disposal, storage, replacement, containment, and monitoring) and natural resource damages. Liability under these laws can be material and may be imposed for contamination from past acts, even though such past acts may have been lawful at the time they occurred. The sites at which the Utilities have been asserted to have liability under these laws, including their manufactured gas plant sites and any neighboring areas to which contamination may have migrated, are referred to herein as "Superfund Sites."

For Superfund Sites where there are other potentially responsible parties and the Utilities are not managing the site investigation and remediation, the accrued liability represents an estimate of the amount the Utilities will need to pay to investigate and, where determinable, discharge their related obligations. For Superfund Sites (including the manufactured gas plant sites) for which one of the Utilities is managing the investigation and remediation, the accrued liability represents an estimate of the company's share of undiscounted cost to investigate the sites and, for sites that have been investigated in whole or in part, the cost to remediate the sites, if remediation is necessary and if a reasonable estimate of such cost can be made. Remediation costs are estimated in light of the information available, applicable remediation standards, and experience with similar sites.

The accrued liabilities and regulatory assets related to Superfund Sites at March 31, 2011 and December 31, 2010 were as follows:


	Con Edison				CECONY
*(Millions of Dollars)*	2011		2010		2011		2010
Accrued Liabilities:
Manufactured gas plant sites	$	441	$	446	$	323	$	327
Other Superfund Sites		70		66		69		65
Total	$	511	$	512	$	392	$	392
Regulatory assets	$	691	$	692	$	571	$	571

Most of the accrued Superfund Site liability relates to sites that have been investigated, in whole or in part. However, for some of the sites, the extent and associated cost of the required remediation has not yet been determined. As investigations progress and information pertaining to the required remediation becomes available, the Utilities expect that additional liability may be accrued, the amount of which is not presently determinable but may be material. Under their current rate agreements, the Utilities are permitted to recover or defer as regulatory assets (for subsequent recovery through rates) certain site investigation and remediation costs. In February 2011, the NYSPSC initiated a proceeding to examine the existing mechanisms pursuant to which utilities recover such costs and possible alternatives.

Environmental remediation costs incurred related to Superfund Sites for the three months ended March 31, 2011 and 2010, were as follows:


	Con Edison				CECONY
*(Millions of Dollars)*	2011		2010		2011		2010
Remediation costs incurred	$	6	$	9	$	5	$	8

There were no insurance recoveries received related to Superfund Sites for the three months ended March 31, 2011. Insurance recoveries related to Superfund Sites for the three months ended March 31, 2010 were immaterial.

In 2010, CECONY estimated that for its manufactured gas plant sites, its aggregate undiscounted potential liability for the investigation and remediation of coal tar and/or other manufactured gas plant-related environmental contaminants could range up to $1.9 billion. In 2010, O&R estimated that for its manufactured gas plant sites, each of which has been investigated, the aggregate undiscounted potential liability for the remediation of such contaminants could range up to $200 million. These estimates were based on the assumption that there is contamination at all sites, including those that have not yet been fully investigated and additional assumptions about the extent of the contamination and the type and extent of the remediation that may be required. Actual experience may be materially different.

Asbestos Proceedings

Suits have been brought in New York State and federal courts against the Utilities and many other defendants, wherein a large number of plaintiffs sought large amounts of compensatory and punitive damages for deaths and injuries allegedly caused by exposure to asbestos at various premises of the Utilities. The suits that have been resolved, which are many, have been resolved without any payment by the Utilities, or for amounts that were not, in the aggregate, material to them. The amounts specified in all the remaining thousands of suits total billions of dollars; however, the Utilities believe that these amounts are greatly exaggerated, based on the disposition of previous claims. In 2010, CECONY estimated that its aggregate undiscounted potential liability for these suits and additional suits that may be brought over the next 15 years is $10 million. The estimate was based upon a combination of modeling, historical data analysis and risk factor assessment. Actual experience may be materially different. In addition, certain current and former employees have claimed or are claiming workers' compensation benefits based on alleged disability from exposure to asbestos. Under its current rate agreements, CECONY is permitted to defer as regulatory assets (for subsequent recovery through rates) costs incurred for its asbestos lawsuits and workers' compensation claims. The accrued liability for asbestos suits and workers' compensation proceedings (including those related to asbestos exposure) and the amounts deferred as regulatory assets for the Companies at March 31, 2011 and December 31, 2010 were as follows:


	Con Edison				CECONY
*(Millions of Dollars)*	2011		2010		2011		2010
Accrued liability – asbestos suits	$	10	$	10	$	10	$	10
Regulatory assets – asbestos suits	$	10	$	10	$	10	$	10
Accrued liability – workers' compensation	$	108	$	106	$	103	$	101
Regulatory assets – workers' compensation	$	33	$	31	$	33	$	31

Other Material Contingencies

3 Months Ended

Mar. 31, 2011

Other Material Contingencies

Other Material Contingencies

Note G – Other Material Contingencies

Manhattan Steam Main Rupture

In July 2007, a CECONY steam main located in midtown Manhattan ruptured. It has been reported that one person died and others were injured as a result of the incident. Several buildings in the area were damaged. Debris from the incident included dirt and mud containing asbestos. The response to the incident required the closing of several buildings and streets for various periods. Approximately 100 suits are pending against the company seeking generally unspecified compensatory and, in some cases, punitive damages, for personal injury, property damage and business interruption. The company has not accrued a liability for the suits. The company has notified its insurers of the incident and believes that the policies in force at the time of the incident will cover most of the company's costs, which the company is unable to estimate, but which could be substantial, to satisfy its liability to others in connection with the incident.

Investigations of Vendor Payments

In January 2009, CECONY commenced an internal investigation relating to the arrests of certain employees and retired employees (all of whom have since pleaded guilty) for accepting kickbacks from contractors that performed construction work for the company. The company has retained a law firm, which has retained an accounting firm, to assist in the company's investigation. The company is providing information

to governmental authorities, which consider the company to be a victim of unlawful conduct, in connection with their investigation of the arrested employees and contractors. The company has terminated its employment of the arrested employees and its contracts with the contractors. In February 2009, the NYSPSC commenced a proceeding that, among other things, will examine the prudence of certain of the company's expenditures relating to the arrests and consider whether additional expenditures should also be examined (see "Other Regulatory Matters" in Note B).

CECONY is also investigating the September 2010 arrest of a retired employee (who has since pleaded guilty to participating in a bribery scheme in which the employee received payments from two companies that supplied materials to the company) and the January 2011 arrest of an employee (for accepting kickbacks from an engineering firm that performed work for the company). CECONY has provided information to governmental authorities in connection with their ongoing investigations of these matters.

The company, based upon its evaluation of its internal controls for 2010 and previous years, believes that the controls were effective to provide reasonable assurance that its financial statements have been fairly presented, in all material respects, in conformity with generally accepted accounting principles. Because the company's investigations are ongoing, the company is unable to predict the impact of any of the employees' unlawful conduct on the company's internal controls, business, results of operations or financial position.

Lease In/Lease Out Transactions

In each of 1997 and 1999, Con Edison Development entered into a transaction in which it leased property and then immediately subleased it back to the lessor (termed "Lease In/Lease Out," or LILO transactions). The transactions respectively involve electric generating and gas distribution facilities in the Netherlands, with a total investment of $259 million. The transactions were financed with $93 million of equity and $166 million of non-recourse, long-term debt secured by the underlying assets. In accordance with the accounting rules for leases, Con Edison is accounting for the two LILO transactions as leveraged leases. Accordingly, the company's investment in these leases, net of non-recourse debt, is carried as a single amount in Con Edison's consolidated balance sheet and income is recognized pursuant to a method that incorporates a level rate of return for those years when net investment in the lease is positive, based upon the after-tax cash flows projected at the inception of the leveraged leases. The company's investment in these leveraged leases was $(45) million at March 31, 2011 and $(41) million at December 31, 2010 and is comprised of a $234 million gross investment less $279 million deferred tax liabilities at March 31, 2011 and $235 million gross investment less $276 million of deferred tax liabilities at December 31, 2010.

On audit of Con Edison's tax return for 1997, the IRS disallowed the tax losses in connection with the 1997 LILO transaction. In December 2005, Con Edison paid a $0.3 million income tax deficiency asserted by the IRS for the tax year 1997 with respect to the 1997 LILO transaction. In April 2006, the company paid interest of $0.2 million associated with the deficiency and commenced an action in the United States Court of Federal Claims, entitled Consolidated Edison Company of New York, Inc. v. United States, to obtain a refund of this tax payment and interest. A trial was completed in November 2007. In October 2009, the court issued a decision in favor of the company concluding that the 1997 LILO transaction was, in substance, a true lease that possessed economic substance, the loans relating to the lease constituted bona fide indebtedness, and the deductions for the 1997 LILO transactions claimed by the company in its 1997 federal income tax return are allowable. The IRS is entitled to appeal the decision.

In connection with its audit of Con Edison's federal income tax returns for 1998 through 2007, the IRS disallowed $416 million of net tax deductions taken with respect to both of the LILO transactions for the tax years. Con Edison is pursuing administrative appeals of these audit level disallowances. In connection with its audit of Con Edison's federal income tax returns for 2009 and 2008, the IRS has disallowed $41 million and $42 million, respectively, of net tax deductions taken with respect to both of the LILO transactions. When these audit level disallowances become appealable, Con Edison intends to file an appeal of the disallowances.

Con Edison believes that its LILO transactions have been correctly reported, and has not recorded any reserve with respect to the disallowance of tax losses, or related interest, in connection with its LILO transactions. Con Edison's estimated tax savings, reflected in its financial statements, from the two LILO transactions through March 31, 2011, in the aggregate, was $225 million. If Con Edison were required to repay all or a portion of these amounts, it would also be required to pay interest of up to $79 million net of tax at March 31, 2011.

Pursuant to the accounting rules for leveraged lease transactions, the expected timing of income tax cash flows generated by Con Edison's LILO transactions are required to be reviewed at least annually. If the expected timing of the cash flows is revised, the rate of return and the allocation of income would be recalculated from the inception of the LILO transactions, and the company would be required to recalculate the accounting effect of the LILO transactions, which would result in a charge to earnings that could have a material adverse effect on the company's results of operations.

Guarantees

Con Edison and its subsidiaries enter into various agreements providing financial or performance assurance primarily to third parties on behalf of their subsidiaries. Maximum amounts guaranteed by Con Edison totaled $897 million and $859 million at March 31, 2011 and December 31, 2010, respectively.

A summary, by type (described in Note H to the financial statements in Item 8 of the Form 10-K) and term, of Con Edison's total guarantees at March 31, 2011 is as follows:


Guarantee Type	0 –3 years		4 –10 years		> 10 years		Total
	*(Millions of Dollars)*
Commodity transactions	$	645	$	29	$	131	$	805
Affordable housing program	$	1		—		—	$	1
Intra-company guarantees	$	30		—	$	1	$	31
Other guarantees	$	47	$	13		—	$	60
TOTAL	$	723	$	42	$	132	$	897

Financial Information by Business Segment

3 Months Ended

Mar. 31, 2011

Financial Information by Business Segment

Financial Information by Business Segment

Note H — Financial Information by Business Segment

Reference is made to Note N to the financial statements in Item 8 of the Form 10-K.

The financial data for the business segments are as follows:


	For the Three Months Ended March 31,
	Operating revenues						Inter-segment revenues						Depreciation and amortization				Operating income
*(Millions of Dollars)*	2011			2010			2011			2010			2011		2010		2011			2010
CECONY
Electric	$	1,721		$	1,728		$	3		$	3		$	161	$	151	$	217		$	195
Gas		663			683			1			1			27		25		204			215
Steam		325			307			20			18			16		15		125			102
Consolidation adjustments		—			—			(24	)		(22	)		—		—		—			—
Total CECONY	$	2,709		$	2,718		$	—		$	—		$	204	$	191	$	546		$	512
O&R
Electric	$	149		$	161		$	—		$	—		$	9	$	8	$	10		$	5
Gas		92			90			—			—			3		3		28			23
Total O&R	$	241		$	251		$	—		$	—		$	12	$	11	$	38		$	28
Competitive energy businesses	$	408		$	500		$	3		$	2		$	2	$	2	$	44		$	(48	)
Other*		(9	)		(7	)		(3	)		(2	)		—		—		(2	)		—
Total Con Edison	$	3,349		$	3,462		$	—		$	—		$	218	$	204	$	626		$	492

*	Parent company expenses, primarily interest, and consolidation adjustments. Other does not represent a business segment.

Derivative Instruments and Hedging Activities

3 Months Ended

Mar. 31, 2011

Derivative Instruments and Hedging Activities

Derivative Instruments and Hedging Activities

Note I — Derivative Instruments and Hedging Activities

Under the accounting rules for derivatives and hedging, derivatives are recognized on the balance sheet at fair value, unless an exception is available under the accounting rules. Certain qualifying derivative contracts have been designated as normal purchases or normal sales contracts. These contracts are not reported at fair value under the accounting rules.

Energy Price Hedging

Con Edison's subsidiaries hedge market price fluctuations associated with physical purchases and sales of electricity, natural gas, and steam by using derivative instruments including futures, forwards, basis swaps, options, transmission congestion contracts and financial transmission rights contracts. The fair values of these hedges at March 31, 2011 and December 31, 2010 were as follows:


	Con Edison						CECONY
*(Millions of Dollars)*	2011			2010			2011			2010
Fair value of net derivative assets/(liabilities) - gross	$	(150	)	$	(261	)	$	(94	)	$	(156	)
Impact of netting of cash collateral		137			176			85			104
Fair value of net derivative assets/(liabilities) - net	$	(13	)	$	(85	)	$	(9	)	$	(52	)

Credit Exposure

The Companies are exposed to credit risk related to transactions entered into primarily for the various energy supply and hedging activities by the Utilities and the competitive energy businesses. The Companies use credit policies to manage this risk, including an established credit approval process, monitoring of counterparty limits, netting provisions within agreements, collateral or prepayment arrangements, credit insurance and credit default swaps.

At March 31, 2011, Con Edison and CECONY had

$178 million and $44 million of credit exposure in connection with energy supply and hedging activities, net of collateral, respectively. Con Edison's net credit exposure consisted of $66 million with investment-grade counterparties, $65 million with commodity exchange brokers, $45 million with independent system operators and $2 million with non-investment grade counterparties. CECONY's net credit exposure consisted of $2 million with investment-grade counterparties and $42 million with commodity exchange brokers.

Economic Hedges

The Companies enter into certain derivative instruments that do not qualify or are not designated as hedges under the accounting rules for derivatives and hedging. However, management believes these instruments represent economic hedges that mitigate exposure to fluctuations in commodity prices.

The fair values of the Companies' commodity derivatives at March 31, 2011 were:


*(Millions of Dollars)*	Fair Value of Commodity Derivatives(a) Balance Sheet Location	Con Edison			CECONY
Derivative Assets
Current	Other current assets	$	173		$	46
Long-term	Other deferred charges and non-current assets		49			21
Total derivative assets		$	222		$	67
Impact of netting			(75	)		(2	)
Net derivative assets		$	147		$	65
Derivative Liabilities
Current	Fair value of derivative liabilities	$	287		$	—
Current	Other current liabilities		—			115
Long-term	Fair value of derivative liabilities		85			46
Total derivative liabilities		$	372		$	161
Impact of netting			(212	)		(87	)
Net derivative liabilities		$	160		$	74

(a)	Qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts, are not reported at fair value under the accounting rules for derivatives and hedging and, therefore, are excluded from the table.

The fair values of the Companies' commodity derivatives at December 31, 2010 were:


*(Millions of Dollars)*	Fair Value of Commodity Derivatives(a) Balance Sheet Location	Con Edison			CECONY
Derivative Assets
Current	Other current assets	$	184		$	29
Long-term	Other deferred charges and non-current assets		51			19
Total derivative assets		$	235		$	48
Impact of netting			(129	)		—
Net derivative assets		$	106		$	48
Derivative Liabilities
Current	Fair value of derivative liabilities	$	385		$	—
Current	Other current liabilities		—			148
Long-term	Fair value of derivative liabilities		111			56
Total derivative liabilities		$	496		$	204
Impact of netting			(305	)		(104	)
Net derivative liabilities		$	191		$	100

(a)	Qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts, are not reported at fair value under the accounting rules for derivatives and hedging and, therefore, are excluded from the table.

The Utilities generally recover all of their prudently incurred fuel, purchased power and gas cost, including hedging gains and losses, in accordance with rate provisions approved by the applicable state utility commissions. See "Recoverable Energy Costs" in Note A to the financial statements in Item 8 of the Form 10-K. In accordance with the accounting rules for regulated operations, the Utilities record a regulatory asset or liability to defer recognition of unrealized gains and losses on their electric and gas derivatives. As gains and losses are realized in future periods, they will be recognized as purchased power, gas and fuel costs in the Companies' consolidated income statements. Con Edison's competitive energy businesses record realized and unrealized gains and losses on their derivative contracts in earnings in the reporting period in which they occur.

The following table presents the changes in the fair values of commodity derivatives that have been deferred or recognized in earnings for the three months ended March 31, 2011:


Realized and Unrealized Gains/(Losses) on Commodity Derivatives(a) Deferred or Recognized in Income for the three months ended March 31, 2011
*(Millions of Dollars)*	Balance Sheet Location	Con Edison			CECONY
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Current	Deferred derivative gains	$	6		$	5
Long-term	Regulatory liabilities		3			3
Total deferred gains		$	9		$	8
Current	Deferred derivative losses	$	17		$	11
Current	Recoverable energy costs		(49	)		(42	)
Long-term	Regulatory assets		44			35
Total deferred losses		$	12		$	4
Net deferred losses		$	21		$	12
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense	$	(21	)(b)	$	—
	Gas purchased for resale		(6	)		—
	Non-utility revenue		10	(b)		—
Total pre-tax gain/(loss) recognized in income		$	(17	)	$	—

(a)	Qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts, are not reported at fair value under the accounting rules for derivatives and hedging and, therefore, are excluded from the table.

(b)	For the three months ended March 31, 2011 Con Edison recorded in non-utility operating revenues and purchased power expense an unrealized pre-tax (loss)/gain of $(13) million and $50 million, respectively.

The following table presents the changes in the fair values of commodity derivatives that have been deferred or recognized in earnings for the three months ended March 31, 2010:


Realized and Unrealized Gains/(Losses) on Commodity Derivatives(a) Deferred or Recognized in Income for the Three Months Ended March 31, 2010
*(Millions of Dollars)*	Balance Sheet Location	Con Edison			CECONY
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Current	Deferred derivative gains	$	(6	)	$	(6	)
Total deferred gains		$	(6	)	$	(6	)
Current	Deferred derivative losses	$	(161	)	$	(138	)
Current	Recoverable energy costs	$	(55	)	$	(42	)
Long-term	Regulatory assets	$	(74	)	$	(56	)
Total deferred losses		$	(290	)	$	(236	)
Net deferred losses		$	(296	)	$	(242	)
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense	$	(70	)(b)	$	—
	Gas purchased for resale		5			—
	Non-utility revenue		14	(b)		—
Total pre-tax gain/(loss) recognized in income		$	(51	)	$	—

(a)	Qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts, are not reported at fair value under the accounting rules for derivatives and hedging and, therefore, are excluded from the table.

(b)	For the three months ended March 31, 2010, Con Edison recorded in non-utility operating revenues and purchased power expense an unrealized pre-tax gain/(loss) of $46 million and $(110) million, respectively.

As of March 31, 2011, Con Edison had 1,664 contracts, including 686 CECONY contracts, which were considered to be derivatives under the accounting rules for derivatives and hedging (excluding qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts). The following table presents the number of contracts by commodity type:


	Electric Derivatives								Gas Derivatives
	Number of Energy Contracts^(a)		MWhs^(b)		Number of Capacity Contracts^(a)		MWs^(b)		Number of Contracts^(a)		Dths^(b)		Total Number Of Contracts^(a)
Con Edison		915		20,692,742		63		10,164		686		118,524,450		1,664
CECONY		183		5,332,425		—		—		503		109,330,000		686

(a)	Qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts, are not reported at fair value under the accounting rules for derivatives and hedging and, therefore, are excluded from the table.

(b)	Volumes are reported net of long and short positions.

The Companies also enter into electric congestion and gas basis swap contracts to hedge the congestion and transportation charges which are associated with electric and gas contracts and hedged volumes.

The collateral requirements associated with, and settlement of, derivative transactions are included in net cash flows from operating activities in the Companies' consolidated statement of cash flows. Most derivative instrument contracts contain provisions that may require the Companies to provide collateral on derivative instruments in net liability positions. The amount of collateral to be provided will depend on the fair value of the derivative instruments and the Companies' credit ratings.

The aggregate fair value of all derivative instruments with credit-risk-related contingent features that are in a net liability position and collateral posted at March 31, 2011, and the additional collateral that would have been required to be posted had the lowest applicable credit rating been reduced one level and to below investment grade were:


*(Millions of Dollars)*	Con Edison^(a)			CECONY^(a)
Aggregate fair value – net liabilities	$	172		$	92
Collateral posted	$	68		$	51	^(b)
Additional collateral^(c) (downgrade one level from current ratings(d))	$	11		$	6
Additional collateral^(c) (downgrade to below investment grade from current ratings(d))	$	140	^(e)	$	52	^(e)

(a)

Non-derivative transactions for the purchase and sale of electricity and gas and qualifying derivative instruments, which have been designated as normal purchases or normal sales, are excluded from the table. These transactions primarily include purchases of electricity from independent system operators. In the event the Utilities and Con Edison's competitive energy businesses were no longer extended unsecured credit for such purchases, the Companies would be required to post collateral, which at March 31, 2011, would have amounted to an estimated $127 million for Con Edison, including $33 million for CECONY. For certain other such non-derivative transactions, the Companies could be required to post collateral under certain circumstances, including in the event counterparties had reasonable grounds for insecurity.

(b)	Across the Utilities' energy derivative positions, credit limits for the same counterparties are generally integrated. At March 31, 2011, the Utilities posted combined collateral of $68 million, including an estimated $17 million attributable to O&R.

(c)

The Companies measure the collateral requirements by taking into consideration the fair value amounts of derivative instruments that contain credit-risk-related contingent features that are in a net liabilities position plus amounts owed to counterparties for settled transactions and amounts required by counterparties for minimum financial security. The fair value amounts represent unrealized losses, net of any unrealized gains where the Companies have a legally enforceable right of setoff.

(d)

The current ratings are Moody's, S&P and Fitch long-term credit rating of, as applicable, Con Edison (Baa1/BBB+/BBB+), CECONY (A3/A-/A-) or O&R (Baa1/A-/A-). Credit ratings assigned by rating agencies are expressions of opinions that are subject to revision or withdrawal at any time by the assigning rating agency.

(e)	Derivative instruments that are net assets have been excluded from the table. At March 31, 2011, if Con Edison had been downgraded to below investment grade, it would have been required to post additional collateral for such derivative instruments of not more than $24 million.

Interest Rate Swap

O&R has an interest rate swap pursuant to which it pays a fixed-rate of 6.09 percent and receives a LIBOR-based variable rate. The fair value of this interest rate swap at March 31, 2011 was an unrealized loss of $10 million, which has been included in Con Edison's consolidated balance sheet as a noncurrent liability/fair value of derivative liabilities and a regulatory asset. The change in the fair value of the swap for the three months ended March 31, 2011 was not material. In the event O&R's credit rating was downgraded to BBB- or lower by S&P or Baa3 or lower by Moody's, the swap counterparty could elect to terminate the agreement and, if it did so, the parties would then be required to settle the transaction.

Fair Value Measurements

3 Months Ended

Mar. 31, 2011

Fair Value Measurements

Fair Value Measurements

Note J — Fair Value Measurements

Reference is made to Note P to the financial statements in Item 8 of the Form 10-K.

Assets and liabilities measured at fair value on a recurring basis as of March 31, 2011 are summarized below.


	Level 1				Level 2				Level 3						Netting Adjustments (4)						Total
*(Millions of Dollars)*	Con Edison		CECONY		Con Edison		CECONY		Con Edison			CECONY			Con Edison			CECONY			Con Edison			CECONY
Derivative assets:
Commodity (1)	$	2	$	1	$	71	$	27	$	140		$	23		$	(67	)	$	14		$	146		$	65
Other assets (3)		68		68		—		—		105			95			—			—			173			163
Total	$	70	$	69	$	71	$	27	$	245		$	118		$	(67	)	$	14		$	319		$	228
Derivative liabilities:
Commodity	$	3	$	1	$	184	$	118	$	176		$	26		$	(204	)	$	(71	)	$	159		$	74
Transfer in (5) (6)		—		—		5		5		—			—			—			—			5			5
Transfer out (5) (6)		—		—		—		—		(5	)		(5	)		—			—			(5	)		(5	)
Commodity (1)	$	3	$	1	$	189	$	123	$	171		$	21		$	(204	)	$	(71	)	$	159		$	74
Interest rate contract (2)		—		—		—		—		10			—			—			—			10			—
Total	$	3	$	1	$	189	$	123	$	181		$	21		$	(204	)	$	(71	)	$	169		$	74

(1)

A significant portion of the commodity derivative contracts categorized in Level 3 is valued using either an industry acceptable model or an internally developed model with observable inputs. The models also include some less readily observable inputs resulting in the classification of the entire contract as Level 3. See Note I.

(2)	See Note I.

(3)	Other assets are comprised of assets such as life insurance contracts within the Deferred Income Plan and Supplemental Retirement Income Plans, held in rabbi trusts.

(4)	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.

(5)	The Companies' policy is to recognize transfers into and transfers out of the levels at the end of the reporting period.

(6)	Transferred from Level 3 to Level 2 because of availability of observable market data due to decrease in the terms of certain contracts from beyond one year as of December 31, 2010 to less than one year as of March 31, 2011.

Assets and liabilities measured at fair value on a recurring basis as of December 31, 2010 are summarized below.


	Level 1				Level 2						Level 3						Netting Adjustments (4)						Total
*(Millions of Dollars)*	Con Edison		CECONY		Con Edison			CECONY			Con Edison			CECONY			Con Edison			CECONY			Con Edison			CECONY
Derivative assets:
Commodity (1)	$	2	$	1	$	72		$	21		$	144		$	13		$	(112	)	$	13		$	106		$	48
Other assets (3)		65		64		—			—			101			92			—			—			166			156
Total	$	67	$	65	$	72		$	21		$	245		$	105		$	(112	)	$	13		$	272		$	204
Derivative liabilities:
Commodity	$	4	$	2	$	270		$	177		$	205		$	12		$	(288	)	$	(91	)	$	191		$	100
Transfer in (5) (6) (7)		—		—		(36	)		(36	)		(9	)		(9	)		—			—			(45	)		(45	)
Transfer out (5) (6) (7)		—		—		9			9			36			36			—			—			45			45
Commodity (1)	$	4	$	2	$	243		$	150		$	232		$	39		$	(288	)	$	(91	)	$	191		$	100
Interest rate contract (2)		—		—		—			—			10			—			—			—			10			—
Total	$	4	$	2	$	243		$	150		$	242		$	39		$	(288	)	$	(91	)	$	201		$	100

(1)

(2)	See Note O to the financial statements in Item 8 of the Form 10-K.

(3)	Other assets are comprised of assets such as life insurance contracts within the Deferred Income Plan and Supplemental Retirement Income Plans, held in rabbi trusts.

(4)	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.

(5)	The Companies' policy is to recognize transfers into and transfers out of the levels at the end of the reporting period.

(6)	Transferred from Level 2 to Level 3 because of reassessment of the levels in the fair value hierarchy within which certain inputs fall.

(7)	Transferred from Level 3 to Level 2 because of availability of observable market data due to decrease in the terms of certain contracts from beyond one year as of December 31, 2009 to less than one year as of December 31, 2010.

The table listed below provides a reconciliation of the beginning and ending net balances for assets and liabilities measured at fair value as of March 31, 2011 and 2010 and classified as Level 3 in the fair value hierarchy below.


	For the Three Months Ended March 31, 2011
				Total Gains/(Losses) – Realized and Unrealized
*(Millions of Dollars)*	Beginning Balance as of January 1, 2011			Included in Earnings			Included in Regulatory Assets and Liabilities		Purchases		Issuances		Sales		Settlements			Transfer In/Out of Level 3			Ending Balance as of March 31, 2011
Con Edison
Derivatives:
Commodity	$	(88	)	$	33		$	40	$	10	$	—	$	—	$	(21	)	$	(5	)	$	(31	)
Interest rate contract		(10	)		(1	)		—		—		—		—		1			—			(10	)
Other assets (1)		101			2			2		—		—		—		—			—			105
Total	$	3		$	34		$	42	$	10	$	—	$	—	$	(20	)	$	(5	)	$	64
CECONY
Derivatives:
Commodity	$	(26	)	$	(1	)	$	27	$	10	$	—	$	—	$	(3	)	$	(5	)	$	2
Other assets(1)		92			2			1		—		—		—		—			—			95
Total	$	66		$	1		$	28	$	10	$	—	$	—	$	(3	)	$	(5	)	$	97

(1)	Amounts included in earnings are reported in investment and other income on the consolidated income statement.


	For the Three Months Ended March 31, 2010
				Total Gains/(Losses) – Realized and Unrealized
*(Millions of Dollars)*	Beginning Balance as of January 1, 2010			Included in Earnings			Included in Regulatory Assets and Liabilities			Purchases		Issuances		Sales		Settlements			Transfer In/Out of Level 3		Ending Balance as of March 31, 2010
Con Edison
Derivatives:
Commodity	$	(59	)	$	(44	)	$	(72	)	$	—	$	—	$	—	$	7		$	—	$	(168	)
Interest rate contract		(11	)		(1	)		—			—		—		—		1			—		(11	)
Other assets (1)		92			—			1			—		—		—		—			—		93
Total	$	22		$	(45	)	$	(71	)	$	—	$	—	$	—	$	8		$	—	$	(86	)
CECONY
Derivatives:
Commodity	$	(5	)	$	(5	)	$	(33	)	$	—	$	—	$	—	$	(5	)	$	—	$	(48	)
Other assets(1)		83			—			1			—		—		—		—			—		84
Total	$	78		$	(5	)	$	(32	)	$	—	$	—	$	—	$	(5	)	$	—	$	36

(1)	Amounts included in earnings are reported in investment and other income on the consolidated income statement.

For the Utilities, realized gains and losses on Level 3 commodity derivative assets and liabilities are reported as part of purchased power, gas and fuel costs. The Utilities generally recover these costs in accordance with rate provisions approved by the applicable state public utilities commissions. See Note A to the financial statements in Item 8 of the Form 10-K. Unrealized gains and losses for commodity derivatives are generally deferred on the consolidated balance sheet in accordance with the accounting rules for regulated operations.

For the competitive energy businesses, realized and unrealized gains and losses on Level 3 commodity derivative assets and liabilities are reported in non-utility revenues ($2 million loss and $60 million gain) and purchased power costs ($41 million gain and $89 million loss) on the consolidated income statement for the three months ended March 31, 2011 and 2010, respectively. The change in fair value relating to Level 3 commodity derivative assets held at March 31, 2011 and 2010 is included in non-utility revenues ($12 million loss and $46 million gain), and purchased power costs ($29 million gain and $71 million loss) on the consolidated income statement for the three months ended March 31, 2011 and 2010, respectively.

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 March 31, 2011, the Companies determined that nonperformance risk would have no material impact on their financial position or results of operations. To assess nonperformance risk, the Companies considered information such as collateral requirements, master netting arrangements, letters of credit and parent company guarantees, and applied a market-based method by using the counterparty's (for an asset) or the Companies' (for a liability) credit default swaps rates.

- Definition

This element represents the disclosure related to the fair value measurement of assets and liabilities which includes [financial] instruments measured at fair value that are classified in stockholders' equity. Such assets and liabilities may be measured on a recurring or nonrecurring basis. The disclosures which may be required or desired include: (1) for assets and liabilities measured on a recurring basis, disclosure may include: (a) the fair value measurements at the reporting date; (b) the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3); (c) for fair value measurements using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (i) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (ii) purchases, sales, issuances, and settlements (net); (iii) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs); (d) the amount of the total gains or losses for the period in subparagraph (c) (i) above included in earnings (or changes in net assets) that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date and a description of where those unrealized gains or losses are reported in the statement of income (or activities); (e) the valuation technique(s) used to measure fair value and a discussion of changes in valuation techniques, if any, during the period and (2) for assets and liabilities that are measured at fair value on a nonrecurring basis (for example, impaired assets) disclosure may include, in addition to (a) above: (a) the reasons for the fair value measurements recorded; (b) the same as (b) above; (c) for fair value measurements using significant unobservable inputs (Level 3), a description of the inputs and the information used to develop the inputs; and (d) the valuation technique(s) used to measure fair value and a discussion of changes, if any, in the valuation technique(s) used to measure similar assets and/or liabilities in prior periods.

+ References+ Details

Summary of Significant Accounting Policies (Policy)

3 Months Ended

Mar. 31, 2011

Summary of Significant Accounting Policies

Earnings Per Common Share

Earnings Per Common Share


(Millions of Dollars, except per share amounts/Shares in Millions)	2011		2010
Net income for common stock	$	311	$	226
Weighted average common shares outstanding – Basic		292.0		281.4
Add: Incremental shares attributable to effect of potentially dilutive securities		1.6		1.3
Adjusted weighted average common shares outstanding – Diluted		293.6		282.7
Earnings per Common Share – Basic
Net income for common stock	$	1.07	$	0.80
Earnings per Common Share – Diluted
Net income for common stock	$	1.06	$	0.80

Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2011

Summary of Significant Accounting Policies

Earnings Per Common Share


(Millions of Dollars, except per share amounts/Shares in Millions)	2011		2010
Net income for common stock	$	311	$	226
Weighted average common shares outstanding – Basic		292.0		281.4
Add: Incremental shares attributable to effect of potentially dilutive securities		1.6		1.3
Adjusted weighted average common shares outstanding – Diluted		293.6		282.7
Earnings per Common Share – Basic
Net income for common stock	$	1.07	$	0.80
Earnings per Common Share – Diluted
Net income for common stock	$	1.06	$	0.80

Regulatory Matters (Tables)

3 Months Ended

Mar. 31, 2011

Regulatory Matters

Regulatory Assets and Liabilities


	Con Edison				CECONY
*(Millions of Dollars)*	2011		2010		2011		2010
Regulatory assets
Unrecognized pension and other postretirement costs	$	4,074	$	4,371	$	3,873	$	4,152
Future federal income tax		1,622		1,593		1,542		1,515
Environmental remediation costs		693		695		573		574
Surcharge for New York State Assessment		159		121		148		112
Net electric deferrals		134		156		134		156
Pension and other post retirement benefits deferrals		183		138		138		90
Revenue taxes		152		145		147		140
Deferred derivative losses – long-term		57		74		37		48
Deferred storm costs		55		57		42		43
Property tax reconciliation		32		34		23		27
O&R transition bond charges		48		48		—		—
World Trade Center restoration costs		—		45		—		45
Workers' compensation		33		31		33		31
Other		132		135		123		125
Regulatory assets – long-term		7,374		7,643		6,813		7,058
Deferred derivative losses – current		146		190		116		151
Recoverable energy costs – current		1		13		—		—
Regulatory assets – current		147		203		116		151
Total Regulatory Assets	$	7,521	$	7,846	$	6,929	$	7,209
Regulatory liabilities
Allowance for cost of removal less salvage	$	422	$	422	$	349	$	350
Refundable energy costs		91		78		61		50
Revenue decoupling mechanism		54		38		54		38
Net unbilled revenue deferrals		33		136		33		136
New York State tax refund		30		30		30		30
Gain on sale of properties		15		31		15		31
Other		220		180		182		148
Regulatory liabilities		865		915		724		783
Deferred derivative gains – current		10		4		8		3
Total Regulatory Liabilities	$	875	$	919	$	732	$	786

Pension Benefits (Tables) (Pension Benefits [Member])

3 Months Ended

Mar. 31, 2011

Pension Benefits [Member]

Net Periodic Pension Benefit Costs


	Con Edison						CECONY
*(Millions of Dollars)*	2011			2010			2011			2010
Service cost – including administrative expenses	$	47		$	42		$	44		$	39
Interest cost on projected benefit obligation		140			139			131			130
Expected return on plan assets		(183	)		(176	)		(175	)		(167	)
Amortization of net actuarial loss		132			106			125			100
Amortization of prior service costs		2			2			2			2
NET PERIODIC BENEFIT COST	$	138		$	113		$	127		$	104
TOTAL PERIODIC BENEFIT COST	$	138		$	113		$	127		$	104
Cost capitalized		(48	)		(41	)		(45	)		(39	)
Cost deferred		(51	)		(23	)		(52	)		(21	)
Cost charged to operating expenses	$	39		$	49		$	30		$	44

Other Postretirement Benefits (Tables) (Other Postretirement Benefits [Member])

3 Months Ended

Mar. 31, 2011

Other Postretirement Benefits [Member]

Net Periodic Postretirement Benefit Costs


	Con Edison						CECONY
*(Millions of Dollars)*	2011			2010			2011			2010
Service cost	$	6		$	6		$	5		$	5
Interest cost on accumulated other postretirement benefit obligation		21			23			18			20
Expected return on plan assets		(22	)		(22	)		(19	)		(19	)
Amortization of net actuarial loss		22			23			20			21
Amortization of prior service cost		(2	)		(3	)		(3	)		(4	)
Amortization of transition obligation		1			1			1			1
NET PERIODIC POSTRETIREMENT BENEFIT COST	$	26		$	28		$	22		$	24
Cost capitalized		(9	)		(10	)		(8	)		(9	)
Cost deferred		4			(1	)		3			(2	)
Cost charged to operating expenses	$	21		$	17		$	17		$	13

Environmental Matters (Tables)

3 Months Ended

Mar. 31, 2011

Environmental Matters

Accrued Liabilities and Regulatory Assets


	Con Edison				CECONY
*(Millions of Dollars)*	2011		2010		2011		2010
Accrued Liabilities:
Manufactured gas plant sites	$	441	$	446	$	323	$	327
Other Superfund Sites		70		66		69		65
Total	$	511	$	512	$	392	$	392
Regulatory assets	$	691	$	692	$	571	$	571

Environmental Remediation Costs


	Con Edison				CECONY
*(Millions of Dollars)*	2011		2010		2011		2010
Remediation costs incurred	$	6	$	9	$	5	$	8

Accrued Liabilities for Asbestos Suits and Workers' Compensation Proceedings


	Con Edison				CECONY
*(Millions of Dollars)*	2011		2010		2011		2010
Accrued liability – asbestos suits	$	10	$	10	$	10	$	10
Regulatory assets – asbestos suits	$	10	$	10	$	10	$	10
Accrued liability – workers' compensation	$	108	$	106	$	103	$	101
Regulatory assets – workers' compensation	$	33	$	31	$	33	$	31

Other Material Contingencies (Tables)

3 Months Ended

Mar. 31, 2011

Other Material Contingencies

Total Guarantees


Guarantee Type	0 –3 years		4 –10 years		> 10 years		Total
	*(Millions of Dollars)*
Commodity transactions	$	645	$	29	$	131	$	805
Affordable housing program	$	1		—		—	$	1
Intra-company guarantees	$	30		—	$	1	$	31
Other guarantees	$	47	$	13		—	$	60
TOTAL	$	723	$	42	$	132	$	897

Financial Information by Business Segment (Tables)

3 Months Ended

Mar. 31, 2011

Financial Information by Business Segment

Financial Data for the Business Segments


	For the Three Months Ended March 31,
	Operating revenues						Inter-segment revenues						Depreciation and amortization				Operating income
*(Millions of Dollars)*	2011			2010			2011			2010			2011		2010		2011			2010
CECONY
Electric	$	1,721		$	1,728		$	3		$	3		$	161	$	151	$	217		$	195
Gas		663			683			1			1			27		25		204			215
Steam		325			307			20			18			16		15		125			102
Consolidation adjustments		—			—			(24	)		(22	)		—		—		—			—
Total CECONY	$	2,709		$	2,718		$	—		$	—		$	204	$	191	$	546		$	512
O&R
Electric	$	149		$	161		$	—		$	—		$	9	$	8	$	10		$	5
Gas		92			90			—			—			3		3		28			23
Total O&R	$	241		$	251		$	—		$	—		$	12	$	11	$	38		$	28
Competitive energy businesses	$	408		$	500		$	3		$	2		$	2	$	2	$	44		$	(48	)
Other*		(9	)		(7	)		(3	)		(2	)		—		—		(2	)		—
Total Con Edison	$	3,349		$	3,462		$	—		$	—		$	218	$	204	$	626		$	492

*	Parent company expenses, primarily interest, and consolidation adjustments. Other does not represent a business segment.

Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2011

Derivative Instruments and Hedging Activities

Energy Price Hedging Fair Values


	Con Edison						CECONY
*(Millions of Dollars)*	2011			2010			2011			2010
Fair value of net derivative assets/(liabilities) - gross	$	(150	)	$	(261	)	$	(94	)	$	(156	)
Impact of netting of cash collateral		137			176			85			104
Fair value of net derivative assets/(liabilities) - net	$	(13	)	$	(85	)	$	(9	)	$	(52	)

Fair Values of the Companies' Commodity Derivatives

The fair values of the Companies' commodity derivatives at March 31, 2011 were:


*(Millions of Dollars)*	Fair Value of Commodity Derivatives(a) Balance Sheet Location	Con Edison			CECONY
Derivative Assets
Current	Other current assets	$	173		$	46
Long-term	Other deferred charges and non-current assets		49			21
Total derivative assets		$	222		$	67
Impact of netting			(75	)		(2	)
Net derivative assets		$	147		$	65
Derivative Liabilities
Current	Fair value of derivative liabilities	$	287		$	—
Current	Other current liabilities		—			115
Long-term	Fair value of derivative liabilities		85			46
Total derivative liabilities		$	372		$	161
Impact of netting			(212	)		(87	)
Net derivative liabilities		$	160		$	74

(a)	Qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts, are not reported at fair value under the accounting rules for derivatives and hedging and, therefore, are excluded from the table.

The fair values of the Companies' commodity derivatives at December 31, 2010 were:


*(Millions of Dollars)*	Fair Value of Commodity Derivatives(a) Balance Sheet Location	Con Edison			CECONY
Derivative Assets
Current	Other current assets	$	184		$	29
Long-term	Other deferred charges and non-current assets		51			19
Total derivative assets		$	235		$	48
Impact of netting			(129	)		—
Net derivative assets		$	106		$	48
Derivative Liabilities
Current	Fair value of derivative liabilities	$	385		$	—
Current	Other current liabilities		—			148
Long-term	Fair value of derivative liabilities		111			56
Total derivative liabilities		$	496		$	204
Impact of netting			(305	)		(104	)
Net derivative liabilities		$	191		$	100

(a)	Qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts, are not reported at fair value under the accounting rules for derivatives and hedging and, therefore, are excluded from the table.

Changes in the Fair Values of Commodity Derivatives

The following table presents the changes in the fair values of commodity derivatives that have been deferred or recognized in earnings for the three months ended March 31, 2011:


Realized and Unrealized Gains/(Losses) on Commodity Derivatives(a) Deferred or Recognized in Income for the three months ended March 31, 2011
*(Millions of Dollars)*	Balance Sheet Location	Con Edison			CECONY
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Current	Deferred derivative gains	$	6		$	5
Long-term	Regulatory liabilities		3			3
Total deferred gains		$	9		$	8
Current	Deferred derivative losses	$	17		$	11
Current	Recoverable energy costs		(49	)		(42	)
Long-term	Regulatory assets		44			35
Total deferred losses		$	12		$	4
Net deferred losses		$	21		$	12
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense	$	(21	)(b)	$	—
	Gas purchased for resale		(6	)		—
	Non-utility revenue		10	(b)		—
Total pre-tax gain/(loss) recognized in income		$	(17	)	$	—

(a)	Qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts, are not reported at fair value under the accounting rules for derivatives and hedging and, therefore, are excluded from the table.

(b)	For the three months ended March 31, 2011 Con Edison recorded in non-utility operating revenues and purchased power expense an unrealized pre-tax (loss)/gain of $(13) million and $50 million, respectively.

The following table presents the changes in the fair values of commodity derivatives that have been deferred or recognized in earnings for the three months ended March 31, 2010:


Realized and Unrealized Gains/(Losses) on Commodity Derivatives(a) Deferred or Recognized in Income for the Three Months Ended March 31, 2010
*(Millions of Dollars)*	Balance Sheet Location	Con Edison			CECONY
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Current	Deferred derivative gains	$	(6	)	$	(6	)
Total deferred gains		$	(6	)	$	(6	)
Current	Deferred derivative losses	$	(161	)	$	(138	)
Current	Recoverable energy costs	$	(55	)	$	(42	)
Long-term	Regulatory assets	$	(74	)	$	(56	)
Total deferred losses		$	(290	)	$	(236	)
Net deferred losses		$	(296	)	$	(242	)
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense	$	(70	)(b)	$	—
	Gas purchased for resale		5			—
	Non-utility revenue		14	(b)		—
Total pre-tax gain/(loss) recognized in income		$	(51	)	$	—

(a)	Qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts, are not reported at fair value under the accounting rules for derivatives and hedging and, therefore, are excluded from the table.

(b)	For the three months ended March 31, 2010, Con Edison recorded in non-utility operating revenues and purchased power expense an unrealized pre-tax gain/(loss) of $46 million and $(110) million, respectively.

Number of Derivative Contracts by Commodity Type


	Electric Derivatives								Gas Derivatives
	Number of Energy Contracts^(a)		MWhs^(b)		Number of Capacity Contracts^(a)		MWs^(b)		Number of Contracts^(a)		Dths^(b)		Total Number Of Contracts^(a)
Con Edison		915		20,692,742		63		10,164		686		118,524,450		1,664
CECONY		183		5,332,425		—		—		503		109,330,000		686

(a)	Qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts, are not reported at fair value under the accounting rules for derivatives and hedging and, therefore, are excluded from the table.

(b)	Volumes are reported net of long and short positions.

Aggregate Fair Value of All Derivative Instruments with Credit Risk Related Contingent Features


*(Millions of Dollars)*	Con Edison^(a)			CECONY^(a)
Aggregate fair value – net liabilities	$	172		$	92
Collateral posted	$	68		$	51	^(b)
Additional collateral^(c) (downgrade one level from current ratings(d))	$	11		$	6
Additional collateral^(c) (downgrade to below investment grade from current ratings(d))	$	140	^(e)	$	52	^(e)

(a)

(b)	Across the Utilities' energy derivative positions, credit limits for the same counterparties are generally integrated. At March 31, 2011, the Utilities posted combined collateral of $68 million, including an estimated $17 million attributable to O&R.

(c)

(d)

(e)	Derivative instruments that are net assets have been excluded from the table. At March 31, 2011, if Con Edison had been downgraded to below investment grade, it would have been required to post additional collateral for such derivative instruments of not more than $24 million.

- Definition

This element may be used to tag a single block of text that encapsulates the entire credit derivatives disclosure including data and tables. This disclosures provides pertinent information by sellers of credit derivatives, about each credit derivative, or each group of similar credit derivatives, including (a) the nature of the credit derivative - its term, how it arose, the events or circumstances that would require the seller to perform under the credit derivative, and the current status of the payment/performance risk of the credit derivative; (b) the maximum potential amount of future payments (undiscounted) the seller could be required to make under the credit derivative; (c) the current fair value of the credit derivative; and (d) the nature of any recourse provisions under the credit derivative, and any assets held either as collateral or by third parties. A credit derivative is a derivative instrument (1) in which one or more of its underlyings are related to the credit risk of a specified entity (or a group of entities) or an index based on the credit risk of a group of entities and (2) that exposes the seller to potential loss from credit-risk-related events specified in the contract. Examples of credit derivatives within the scope of this paragraph include, but are not limited to, credit default swaps, credit spread options, and credit index products; also includes a hybrid instrument that has an embedded credit derivative (for example, a credit-linked note).

+ References+ Details

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2011

Fair Value Measurements

Assets and Liabilities Measured at Fair Value on a Recurring Basis

Assets and liabilities measured at fair value on a recurring basis as of March 31, 2011 are summarized below.


	Level 1				Level 2				Level 3						Netting Adjustments (4)						Total
*(Millions of Dollars)*	Con Edison		CECONY		Con Edison		CECONY		Con Edison			CECONY			Con Edison			CECONY			Con Edison			CECONY
Derivative assets:
Commodity (1)	$	2	$	1	$	71	$	27	$	140		$	23		$	(67	)	$	14		$	146		$	65
Other assets (3)		68		68		—		—		105			95			—			—			173			163
Total	$	70	$	69	$	71	$	27	$	245		$	118		$	(67	)	$	14		$	319		$	228
Derivative liabilities:
Commodity	$	3	$	1	$	184	$	118	$	176		$	26		$	(204	)	$	(71	)	$	159		$	74
Transfer in (5) (6)		—		—		5		5		—			—			—			—			5			5
Transfer out (5) (6)		—		—		—		—		(5	)		(5	)		—			—			(5	)		(5	)
Commodity (1)	$	3	$	1	$	189	$	123	$	171		$	21		$	(204	)	$	(71	)	$	159		$	74
Interest rate contract (2)		—		—		—		—		10			—			—			—			10			—
Total	$	3	$	1	$	189	$	123	$	181		$	21		$	(204	)	$	(71	)	$	169		$	74

(1)

(2)	See Note I.

(3)	Other assets are comprised of assets such as life insurance contracts within the Deferred Income Plan and Supplemental Retirement Income Plans, held in rabbi trusts.

(4)	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.

(5)	The Companies' policy is to recognize transfers into and transfers out of the levels at the end of the reporting period.

(6)	Transferred from Level 3 to Level 2 because of availability of observable market data due to decrease in the terms of certain contracts from beyond one year as of December 31, 2010 to less than one year as of March 31, 2011.

Assets and liabilities measured at fair value on a recurring basis as of December 31, 2010 are summarized below.


	Level 1				Level 2						Level 3						Netting Adjustments (4)						Total
*(Millions of Dollars)*	Con Edison		CECONY		Con Edison			CECONY			Con Edison			CECONY			Con Edison			CECONY			Con Edison			CECONY
Derivative assets:
Commodity (1)	$	2	$	1	$	72		$	21		$	144		$	13		$	(112	)	$	13		$	106		$	48
Other assets (3)		65		64		—			—			101			92			—			—			166			156
Total	$	67	$	65	$	72		$	21		$	245		$	105		$	(112	)	$	13		$	272		$	204
Derivative liabilities:
Commodity	$	4	$	2	$	270		$	177		$	205		$	12		$	(288	)	$	(91	)	$	191		$	100
Transfer in (5) (6) (7)		—		—		(36	)		(36	)		(9	)		(9	)		—			—			(45	)		(45	)
Transfer out (5) (6) (7)		—		—		9			9			36			36			—			—			45			45
Commodity (1)	$	4	$	2	$	243		$	150		$	232		$	39		$	(288	)	$	(91	)	$	191		$	100
Interest rate contract (2)		—		—		—			—			10			—			—			—			10			—
Total	$	4	$	2	$	243		$	150		$	242		$	39		$	(288	)	$	(91	)	$	201		$	100

(1)

(2)	See Note O to the financial statements in Item 8 of the Form 10-K.

(3)	Other assets are comprised of assets such as life insurance contracts within the Deferred Income Plan and Supplemental Retirement Income Plans, held in rabbi trusts.

(4)	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.

(5)	The Companies' policy is to recognize transfers into and transfers out of the levels at the end of the reporting period.

(6)	Transferred from Level 2 to Level 3 because of reassessment of the levels in the fair value hierarchy within which certain inputs fall.

(7)	Transferred from Level 3 to Level 2 because of availability of observable market data due to decrease in the terms of certain contracts from beyond one year as of December 31, 2009 to less than one year as of December 31, 2010.

Reconciliation of the Beginning and Ending Net Balances for Assets and Liabilities Measured at Level 3 Fair Value


	For the Three Months Ended March 31, 2011
				Total Gains/(Losses) – Realized and Unrealized
*(Millions of Dollars)*	Beginning Balance as of January 1, 2011			Included in Earnings			Included in Regulatory Assets and Liabilities		Purchases		Issuances		Sales		Settlements			Transfer In/Out of Level 3			Ending Balance as of March 31, 2011
Con Edison
Derivatives:
Commodity	$	(88	)	$	33		$	40	$	10	$	—	$	—	$	(21	)	$	(5	)	$	(31	)
Interest rate contract		(10	)		(1	)		—		—		—		—		1			—			(10	)
Other assets (1)		101			2			2		—		—		—		—			—			105
Total	$	3		$	34		$	42	$	10	$	—	$	—	$	(20	)	$	(5	)	$	64
CECONY
Derivatives:
Commodity	$	(26	)	$	(1	)	$	27	$	10	$	—	$	—	$	(3	)	$	(5	)	$	2
Other assets(1)		92			2			1		—		—		—		—			—			95
Total	$	66		$	1		$	28	$	10	$	—	$	—	$	(3	)	$	(5	)	$	97

(1)	Amounts included in earnings are reported in investment and other income on the consolidated income statement.


	For the Three Months Ended March 31, 2010
				Total Gains/(Losses) – Realized and Unrealized
*(Millions of Dollars)*	Beginning Balance as of January 1, 2010			Included in Earnings			Included in Regulatory Assets and Liabilities			Purchases		Issuances		Sales		Settlements			Transfer In/Out of Level 3		Ending Balance as of March 31, 2010
Con Edison
Derivatives:
Commodity	$	(59	)	$	(44	)	$	(72	)	$	—	$	—	$	—	$	7		$	—	$	(168	)
Interest rate contract		(11	)		(1	)		—			—		—		—		1			—		(11	)
Other assets (1)		92			—			1			—		—		—		—			—		93
Total	$	22		$	(45	)	$	(71	)	$	—	$	—	$	—	$	8		$	—	$	(86	)
CECONY
Derivatives:
Commodity	$	(5	)	$	(5	)	$	(33	)	$	—	$	—	$	—	$	(5	)	$	—	$	(48	)
Other assets(1)		83			—			1			—		—		—		—			—		84
Total	$	78		$	(5	)	$	(32	)	$	—	$	—	$	—	$	(5	)	$	—	$	36

(1)	Amounts included in earnings are reported in investment and other income on the consolidated income statement.

Summary of Significant Accounting Policies (Earnings Per Common Share) (Details) (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2011	Mar. 31, 2010
Summary of Significant Accounting Policies
Net income for common stock	$ 311	$ 226
Weighted average common shares outstanding - Basic	292.0	281.4
Add: Incremental shares attributable to effect of potentially dilutive securities	1.6	1.3
Adjusted weighted average common shares outstanding - Diluted	293.6	282.7
Earnings per Common Share - Basic Net income for common stock	$ 1.07	$ 0.80
Earnings per Common Share - Diluted Net income for common stock	$ 1.06	$ 0.80

Regulatory Matters (Regulatory Assets and Liabilities) (Details) (USD $) In Millions, unless otherwise specified	Mar. 31, 2011	Dec. 31, 2010
Regulatory assets - long-term	$ 7,374	$ 7,643
Regulatory assets - current	147	203
Total Regulatory Assets	7,521	7,846
Regulatory liabilities	865	915
Total Regulatory Liabilities	875	919
Unrecognized Pension and Other Postretirement Costs [Member]
Regulatory assets - long-term	4,074	4,371
Future Federal Income Tax [Member]
Regulatory assets - long-term	1,622	1,593
Environmental Remediation Costs [Member]
Regulatory assets - long-term	693	695
Surcharge for New York State Assessment [Member]
Regulatory assets - long-term	159	121
Net Electric Deferrals [Member]
Regulatory assets - long-term	134	156
Pension and Other Postretirement Benefits Deferrals [Member]
Regulatory assets - long-term	183	138
Revenue Taxes [Member]
Regulatory assets - long-term	152	145
Deferred Derivative Losses - Long-Term [Member]
Regulatory assets - long-term	57	74
Deferred Storm Costs [Member]
Regulatory assets - long-term	55	57
Property Tax Reconciliation [Member]
Regulatory assets - long-term	32	34
O and R Transition Bond Charges [Member]
Regulatory assets - long-term	48	48
World Trade Center Restoration Costs [Member]
Regulatory assets - long-term		45
Workers' Compensation [Member]
Regulatory assets - long-term	33	31
Other [Member]
Regulatory assets - long-term	132	135
Deferred Derivative Losses - Current [Member]
Regulatory assets - current	146	190
Recoverable Energy Costs - Current [Member]
Regulatory assets - current	1	13
Allowance for Cost of Removal Less Salvage [Member]
Regulatory liabilities	422	422
Refundable Energy Costs [Member]
Regulatory liabilities	91	78
Revenue Decoupling Mechanism [Member]
Regulatory liabilities	54	38
Net Unbilled Revenue Deferrals [Member]
Regulatory liabilities	33	136
New York State Tax Refund [Member]
Regulatory liabilities	30	30
Gain on Sale of Properties [Member]
Regulatory liabilities	15	31
Other Liabilities [Member]
Regulatory liabilities	220	180
Deferred Derivative Gains - Current [Member]
Regulatory liability - current	$ 10	$ 4

Short-Term Borrowing (Details) (USD $) In Millions, unless otherwise specified	Mar. 31, 2011	Dec. 31, 2010
Short-term Borrowing
Commercial paper outstanding	$ 464	$ 0
Weighted average interest rate	0.30%
Letters of credit outstanding under the credit agreement	192	197
Loans outstanding under the companies credit agreement	$ 0	$ 0

Pension Benefits (Net Periodic Pension Benefit Costs) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended		12 Months Ended
	Mar. 31, 2011 Pension Benefits [Member]	Mar. 31, 2010 Pension Benefits [Member]	Dec. 31, 2011 Other Nonqualified Supplemental Defined Benefit Pension [Member]
Service cost - including administrative expenses	$ 47	$ 42
Interest cost on projected benefit obligation	140	139
Expected return on plan assets	(183)	(176)
Amortization of net actuarial loss	132	106
Amortization of prior service cost	2	2
NET PERIODIC BENEFIT COST	138	113
TOTAL PERIODIC BENEFIT COST	138	113
Cost capitalized	(48)	(41)
Cost deferred	(51)	(23)
Cost charged to operating expenses	39	49
Expected discretionary contributions to pension plan	$ 533		$ 11

Other Postretirement Benefits (Net Periodic Postretirement Benefit Costs) (Details) (Other Postretirement Benefits [Member], USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2011	Mar. 31, 2010
Other Postretirement Benefits [Member]
Service cost	$ 6	$ 6
Interest cost on accumulated other postretirement benefit obligation	21	23
Expected return on plan assets	(22)	(22)
Amortization of net actuarial loss	22	23
Amortization of prior service cost	(2)	(3)
Amortization of transition obligation	1	1
NET PERIODIC POSTRETIREMENT BENEFIT COST	26	28
Cost capitalized	(9)	(10)
Cost deferred	4	(1)
Cost charged to operating expenses	21	17
Expected discretionary contributions to pension plan	$ 84

Environmental Matters (Accrued Liabilities and Regulatory Assets) (Details) (USD $) In Millions, unless otherwise specified	Mar. 31, 2011	Dec. 31, 2010
Regulatory assets	$ 7,521	$ 7,846
Manufactured Gas Plant Sites [Member]
Accrual for environmental loss contingencies	441	446
Other Superfund Sites [Member]
Accrual for environmental loss contingencies	70	66
Superfund Sites [Member]
Accrual for environmental loss contingencies	511	512
Regulatory assets	$ 691	$ 692

Environmental Matters (Environmental Remediation Costs) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2011	Mar. 31, 2010
Environmental Matters
Remediation costs incurred	$ 6	$ 9
Insurance recoveries received	$ 0

Environmental Matters (Accrued Liability for Asbestos Suits and Workers' Compensation Proceedings) (Details) (USD $) In Millions, unless otherwise specified	Mar. 31, 2011	Dec. 31, 2010
Regulatory assets	$ 7,521	$ 7,846
Asbestos Suits [Member]
Accrued liability	10	10
Regulatory assets	10	10
Workers' Compensation [Member]
Accrued liability	108	106
Regulatory assets	$ 33	$ 31

Other Material Contingencies (Narrative) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2011	Dec. 31, 2010
Lease in lease out total investment	$ 259
Lease in lease out total financed by equity	93
Lease in lease out total financed by long-term debt	166
The company's investment in leverage leases	(45)	(41)
Gross investment in leverage leases	234	235
Deferred tax liabilities	279	276
Tax savings from lease in lease out transactions	225
Guarantee obligations maximum exposure	897	859
Tax Deficiency Paid in December 2005 [Member]
Tax deficiency paid to IRS	0.3
Interest in April 2006 [Member]
Interest paid related to tax deficiency	0.2
Interest up to March 2011 [Member]
Interest paid related to tax deficiency	79.0
Disallowance of Tax 1998-2007 [Member]
Disallowed deduction	416
Disallowance of Tax 2009 [Member]
Disallowed deduction	41
Disallowance of Tax 2008 [Member]
Disallowed deduction	$ 42

Other Material Contingencies (Total Guarantees) (Details) (USD $) In Millions, unless otherwise specified	Mar. 31, 2011	Dec. 31, 2010
Guarantee Obligations Maximum Exposure	$ 897	$ 859
Financial and Performance Guarantee for Commodity Transactions [Member]
Guarantee Obligations Maximum Exposure	805
Financial and Performance Guarantee for Affordable Housing Program [Member]
Guarantee Obligations Maximum Exposure	1
Financial and Performance Guarantee for Intra Company [Member]
Guarantee Obligations Maximum Exposure	31
Financial and Performance Guarantee Other [Member]
Guarantee Obligations Maximum Exposure	60
Guarantee Duration, 0-3 Years [Member]
Guarantee Obligations Maximum Exposure	723
Guarantee Duration, 0-3 Years [Member] \| Financial and Performance Guarantee for Commodity Transactions [Member]
Guarantee Obligations Maximum Exposure	645
Guarantee Duration, 0-3 Years [Member] \| Financial and Performance Guarantee for Affordable Housing Program [Member]
Guarantee Obligations Maximum Exposure	1
Guarantee Duration, 0-3 Years [Member] \| Financial and Performance Guarantee for Intra Company [Member]
Guarantee Obligations Maximum Exposure	30
Guarantee Duration, 0-3 Years [Member] \| Financial and Performance Guarantee Other [Member]
Guarantee Obligations Maximum Exposure	47
Guarantee Duration, 4-10 Years [Member]
Guarantee Obligations Maximum Exposure	42
Guarantee Duration, 4-10 Years [Member] \| Financial and Performance Guarantee for Commodity Transactions [Member]
Guarantee Obligations Maximum Exposure	29
Guarantee Duration, 4-10 Years [Member] \| Financial and Performance Guarantee for Affordable Housing Program [Member]
Guarantee Obligations Maximum Exposure
Guarantee Duration, 4-10 Years [Member] \| Financial and Performance Guarantee for Intra Company [Member]
Guarantee Obligations Maximum Exposure
Guarantee Duration, 4-10 Years [Member] \| Financial and Performance Guarantee Other [Member]
Guarantee Obligations Maximum Exposure	13
Guarantee Duration, Greater than 10 Years [Member]
Guarantee Obligations Maximum Exposure	132
Guarantee Duration, Greater than 10 Years [Member] \| Financial and Performance Guarantee for Commodity Transactions [Member]
Guarantee Obligations Maximum Exposure	131
Guarantee Duration, Greater than 10 Years [Member] \| Financial and Performance Guarantee for Affordable Housing Program [Member]
Guarantee Obligations Maximum Exposure
Guarantee Duration, Greater than 10 Years [Member] \| Financial and Performance Guarantee for Intra Company [Member]
Guarantee Obligations Maximum Exposure	1
Guarantee Duration, Greater than 10 Years [Member] \| Financial and Performance Guarantee Other [Member]
Guarantee Obligations Maximum Exposure

Financial Information by Business Segment (Financial Data for the Business Segments) (Details) (USD $)
In Millions, unless otherwise specified

3 Months Ended

Mar. 31, 2011

Mar. 31, 2010

Operating revenues

$ 3,349

$ 3,462

Inter-segment revenues

Depreciation and amortization

218

204

Operating income

626

492

CECONY [Member]

Operating revenues

2,709

2,718

Inter-segment revenues

Depreciation and amortization

204

191

Operating income

546

512

Consolidation Adjustments [Member]

Operating revenues

Inter-segment revenues

(24)

(22)

O&R [Member]

Operating revenues

241

251

Inter-segment revenues

Depreciation and amortization

Operating income

CECONY - Electric [Member]

Operating revenues

1,721

1,728

Inter-segment revenues

Depreciation and amortization

161

151

Operating income

217

195

CECONY - Gas [Member]

Operating revenues

663

683

Inter-segment revenues

Depreciation and amortization

Operating income

204

215

CECONY - Steam [Member]

Operating revenues

325

307

Inter-segment revenues

Depreciation and amortization

Operating income

125

102

O&R - Electric [Member]

Operating revenues

149

161

Inter-segment revenues

Depreciation and amortization

Operating income

O&R - Gas [Member]

Operating revenues

Inter-segment revenues

Depreciation and amortization

Operating income

Competitive Energy Businesses [Member]

Operating revenues

408

500

Inter-segment revenues

Depreciation and amortization

Operating income

(48)

Other Revenues and Eliminations in Segment Information [Member]

Operating revenues

(9)

^[1]

(7)

^[1]

Inter-segment revenues

(3)

^[1]

(2)

^[1]

Depreciation and amortization

^[1]

Operating income

$ (2)

^[1]

[1]	Parent company expenses, primarily interest, and consolidation adjustments. Other does not represent a business segment.

Derivative Instruments and Hedging Activities (Narrative) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2011
Energy supply and hedging activities credit exposure total	$ 178
Makeup of net credit exposure counterparties	66
Makeup of net credit exposure primarily with commodity exchange	65
Independent system operators	45
Number of contracts considered derivatives	1,664
Non-Investment Grade Counterparties [Member]
Makeup of net credit exposure primarily with commodity exchange	$ 2

Derivative Instruments and Hedging Activities (Energy Price Hedging Fair Values) (Details) (USD $) In Millions, unless otherwise specified	Mar. 31, 2011	Dec. 31, 2010
Derivative Instruments and Hedging Activities
Fair value of net derivative assets/(liabilities) - gross	$ (150)	$ (261)
Impact of netting of cash collateral	137	176
Fair value of net derivative assets/(liabilities) - net	$ (13)	$ (85)

Derivative Instruments and Hedging Activities (Fair Values of the Companies' Commodity Derivatives) (Details) (USD $)
In Millions, unless otherwise specified

Mar. 31, 2011

Dec. 31, 2010

Fair value of derivative assets

$ 222

^[1]

$ 235

^[1]

Net derivatives asset

147

^[1]

106

^[1]

Fair value of derivative liabilities

372

^[1]

496

^[1]

Net derivatives liability

160

^[1]

191

^[1]

Derivatives Asset [Member]

Impact of netting

(75)

^[1]

(129)

^[1]

Derivatives Asset [Member] | Other Current Assets [Member]

Fair value of derivative assets

173

^[1]

184

^[1]

Derivatives Asset [Member] | Other Deferred Charges and Non-current Assets [Member]

Fair value of derivative assets

^[1]

Derivatives Liability [Member]

Impact of netting

(212)

^[1]

(305)

^[1]

Derivatives Liability [Member] | Fair Value of Derivative Liabilities, Current [Member]

Fair value of derivative liabilities

287

^[1]

385

^[1]

Derivatives Liability [Member] | Other Current Liabilities [Member]

Fair value of derivative liabilities

^[1]

Derivatives Liability [Member] | Fair Value of Derivative Liabilities, Long Term [Member]

Fair value of derivative liabilities

$ 85

^[1]

$ 111

^[1]

[1]	Qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts, are not reported at fair value under the accounting rules for derivatives and hedging and, therefore, are excluded from the table.

Derivative Instruments and Hedging Activities (Changes in the Fair Values of Commodity Derivatives) (Details) (USD $)
In Millions, unless otherwise specified

3 Months Ended

Mar. 31, 2011

Mar. 31, 2010

Total deferred gains

$ 9

^[1]

$ (6)

^[1]

Total deferred losses

^[1]

(290)

^[1]

Net deferred losses

^[1]

(296)

^[1]

Pre-tax gain/(loss) recognized in income

(17)

^[1]

(51)

^[1]

Purchased Power Expense [Member]

Pre-tax gain/(loss) recognized in income

(21)

^[1],[2]

(70)

^[1],[3]

Unrealized gain/(loss) on derivatives, tax

(110)

Gas Purchased for Resale [Member]

Pre-tax gain/(loss) recognized in income

(6)

^[1]

Non-utility Revenue [Member]

Pre-tax gain/(loss) recognized in income

^[1],[2]

^[1],[3]

Unrealized gain/(loss) on derivatives, tax

(13)

Deferred Derivative Gains [Member]

Current-Deferred derivative gains

^[1]

(6)

^[1]

Regulatory Liabilities, Long Term [Member]

Total deferred gains

^[1]

Deferred Derivative Losses [Member]

Deferred derivative losses, current

^[1]

(161)

^[1]

Recoverable Energy Costs [Member]

Deferred gain/(loss), asset

(49)

^[1]

(55)

^[1]

Regulatory Assets, Long Term [Member]

Deferred gain/(loss), asset

$ 44

^[1]

$ (74)

^[1]

[1]	Qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts, are not reported at fair value under the accounting rules for derivatives and hedging and, therefore, are excluded from the table.
[2]	For the three months ended March 31, 2011 Con Edison recorded in non-utility operating revenues and purchased power expense an unrealized pre-tax (loss)/gain of $(13) million and $50 million, respectively.
[3]	For the three months ended March 31, 2010, Con Edison recorded in non-utility operating revenues and purchased power expense an unrealized pre-tax gain/(loss) of $46 million and $(110) million, respectively.

Derivative Instruments and Hedging Activities (Number of Derivative Contracts by Commodity Type) (Details)

3 Months Ended

Mar. 31, 2011

Number of Energy Contracts

1,664

^[1]

Description of Derivative Activity Volume Electric Derivatives [Member]

Number of Energy Contracts

915

^[1]

MWhs

20,692,742

^[2]

Number of Capacity Contracts

^[1]

MWs

10,164

^[2]

Description of Derivative Activity Volume Gas Derivatives [Member]

Number of Energy Contracts

686

^[1]

Dths

118,524,450

^[2]

[1]	Qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts, are not reported at fair value under the accounting rules for derivatives and hedging and, therefore, are excluded from the table.
[2]	Volumes are reported net of long and short positions.

Derivative Instruments and Hedging Activities (Aggregate Fair Value of All Derivative Instruments with Credit Risk Related Contingent Features) (Details) (USD $)
In Millions, unless otherwise specified

Mar. 31, 2011

Aggregate fair value - net liabilities

$ 172

^[1]

Collateral posted

^[1]

Additional Collateral Required Due To Loss of Unsecured Credit [Member]

Collateral posted

127

Additional Collateral Aggregate Fair Value Down One Level [Member]

Additional collateral

^[1],[2],[3]

Additional Collateral Aggregate Fair Value Down below Investment Grade [Member]

Collateral posted

Additional collateral

$ 140

^{[1],[2],[3],[4]}

[1]	Non-derivative transactions for the purchase and sale of electricity and gas and qualifying derivative instruments, which have been designated as normal purchases or normal sales, are excluded from the table. These transactions primarily include purchases of electricity from independent system operators. In the event the Utilities and Con Edison's competitive energy businesses were no longer extended unsecured credit for such purchases, the Companies would be required to post collateral, which at March 31, 2011, would have amounted to an estimated $127 million for Con Edison, including $33 million for CECONY. For certain other such non-derivative transactions, the Companies could be required to post collateral under certain circumstances, including in the event counterparties had reasonable grounds for insecurity.
[2]	The Companies measure the collateral requirements by taking into consideration the fair value amounts of derivative instruments that contain credit-risk-related contingent features that are in a net liabilities position plus amounts owed to counterparties for settled transactions and amounts required by counterparties for minimum financial security. The fair value amounts represent unrealized losses, net of any unrealized gains where the Companies have a legally enforceable right of setoff.
[3]	The current ratings are Moody's, S&P and Fitch long-term credit rating of, as applicable, Con Edison (Baa1/BBB+/BBB+), CECONY (A3/A-/A-) or O&R (Baa1/A-/A-). Credit ratings assigned by rating agencies are expressions of opinions that are subject to revision or withdrawal at any time by the assigning rating agency.
[4]	Derivative instruments that are net assets have been excluded from the table. At March 31, 2011, if Con Edison had been downgraded to below investment grade, it would have been required to post additional collateral for such derivative instruments of not more than $24 million.

Fair Value Measurements (Narrative) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2011	Mar. 31, 2010
Fair Value Measurements
Gain (loss) on Level 3 energy derivative assets	$ (2)
Gains on Level 3 energy derivative liabilities		60
Loss on Level 3 energy derivative assets for purchased power costs	(41)
Gain on Level 3 energy derivative liabilities for purchased power costs		(89)
Fair value, assets measured on recurring basis, change in unrealized gain (loss) included in other income	(12)	46
Fair value, assets measured on recurring basis, change in unrealized gain (loss) included in purchased power costs	$ 29	$ (71)

Fair Value Measurements (Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) (USD $)
In Millions, unless otherwise specified

3 Months Ended

12 Months Ended

Mar. 31, 2011

Dec. 31, 2010

Total assets

$ 319

$ 272

Transfer in

^[1],[2]

(45)

^[1],[3],[4]

Transfer out

(5)

^[1],[2]

^[1],[3],[4]

Commodity

169

201

Derivative liabilities

159

^[5]

191

^[5]

Total liabilities

169

201

Fair Value, Inputs, Level 1 [Member]

Total assets

Transfer in

^[1],[2]

^[1],[3],[4]

Transfer out

^[1],[2]

^[1],[3],[4]

Commodity

Derivative liabilities

^[5]

Total liabilities

Fair Value, Inputs, Level 2 [Member]

Total assets

Transfer in

^[1],[2]

(36)

^[1],[3],[4]

Transfer out

^[1],[2]

^[1],[3],[4]

Commodity

189

243

Derivative liabilities

189

^[5]

243

^[5]

Total liabilities

189

243

Fair Value, Inputs, Level 3 [Member]

Total assets

245

Transfer in

^[1],[2]

(9)

^[1],[3],[4]

Transfer out

(5)

^[1],[2]

^[1],[3],[4]

Commodity

181

242

Derivative liabilities

171

^[5]

232

^[5]

Total liabilities

181

242

Netting Adjustments [Member]

Total assets

(67)

(112)

Transfer in

^[1],[2]

^[1],[3],[4]

Transfer out

^[1],[2]

^[1],[3],[4]

Commodity

(204)

(288)

Derivative liabilities

(204)

^[5]

(288)

^[5]

Total liabilities

(204)

(288)

Commodity [Member]

Derivative assets

146

^[5]

106

^[6]

Derivative liabilities

159

191

Commodity [Member] | Fair Value, Inputs, Level 1 [Member]

Derivative assets

^[5]

^[6]

Derivative liabilities

Commodity [Member] | Fair Value, Inputs, Level 2 [Member]

Derivative assets

^[5]

^[6]

Derivative liabilities

184

270

Commodity [Member] | Fair Value, Inputs, Level 3 [Member]

Derivative assets

140

^[5]

144

^[6]

Derivative liabilities

176

205

Commodity [Member] | Netting Adjustments [Member]

Derivative assets

(67)

^[5]

(112)

^[6]

Derivative liabilities

(204)

(288)

Fair Value Interest Rate Contract [Member]

Derivative liabilities

^[7]

^[8]

Fair Value Interest Rate Contract [Member] | Fair Value, Inputs, Level 1 [Member]

Derivative liabilities

^[7]

^[8]

Fair Value Interest Rate Contract [Member] | Fair Value, Inputs, Level 2 [Member]

Derivative liabilities

^[7]

^[8]

Fair Value Interest Rate Contract [Member] | Fair Value, Inputs, Level 3 [Member]

Derivative liabilities

^[7]

^[8]

Fair Value Interest Rate Contract [Member] | Netting Adjustments [Member]

Derivative liabilities

^[7]

^[8]

Fair Value Other Assets [Member]

Derivative assets

173

^[9]

166

^[9]

Fair Value Other Assets [Member] | Fair Value, Inputs, Level 1 [Member]

Derivative assets

^[9]

Fair Value Other Assets [Member] | Fair Value, Inputs, Level 2 [Member]

Derivative assets

^[9]

Fair Value Other Assets [Member] | Fair Value, Inputs, Level 3 [Member]

Derivative assets

105

^[9]

101

^[9]

Fair Value Other Assets [Member] | Netting Adjustments [Member]

Derivative assets

^[9]

[1]	The Companies' policy is to recognize transfers into and transfers out of the levels at the end of the reporting period.
[2]	Transferred from Level 3 to Level 2 because of availability of observable market data due to decrease in the terms of certain contracts from beyond one year as of December 31, 2010 to less than one year as of March 31, 2011.
[3]	Transferred from Level 2 to Level 3 because of reassessment of the levels in the fair value hierarchy within which certain inputs fall.
[4]	Transferred from Level 3 to Level 2 because of availability of observable market data due to decrease in the terms of certain contracts from beyond one year as of December 31, 2009 to less than one year as of December 31, 2010.
[5]	A significant portion of the commodity derivative contracts categorized in Level 3 is valued using either an industry acceptable model or an internally developed model with observable inputs. The models also include some less readily observable inputs resulting in the classification of the entire contract as Level 3. See Note I.
[6]	A significant portion of the commodity derivative contracts categorized in Level 3 is valued using either an industry acceptable model or an internally developed model with observable inputs. The models also include some less readily observable inputs resulting in the classification of the entire contract as Level 3. See Note O to the financial statements in Item 8 of the Form 10-K.
[7]	See Note I.
[8]	See Note O to the financial statements in Item 8 of the Form 10-K.
[9]	Other assets are comprised of assets such as life insurance contracts within the Deferred Income Plan and Supplemental Retirement Income Plans, held in rabbi trusts.

Fair Value Measurements (Reconciliation of the Beginning and Ending Net Balances for Assets and Liabilities Measured at Level 3 Fair Value) (Details) (USD $)
In Millions, unless otherwise specified

3 Months Ended

Mar. 31, 2011

Mar. 31, 2010

Beginning Balance

$ 3

$ 22

Included in Earnings

(45)

Included in Regulatory Assets and Liabilities

(71)

Purchases

Issuances