Document And Entity Information (USD $) In Billions, except Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Jan. 31, 2012	Jun. 30, 2011
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2011
Document Fiscal Year Focus	2011
Document Fiscal Period Focus	FY
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		292,880,631
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Public Float			$ 15.6
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
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No

Consolidated Income Statement (USD $) In Millions, except Per Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
OPERATING REVENUES
Electric	$ 8,918	$ 9,064	$ 8,320
Gas	1,735	1,760	1,943
Steam	683	656	661
Non-utility	1,602	1,845	2,108
TOTAL OPERATING REVENUES	12,938	13,325	13,032
OPERATING EXPENSES
Purchased power	3,967	4,613	4,776
Fuel	412	458	503
Gas purchased for resale	622	683	963
Other operations and maintenance	2,969	2,888	2,555
Depreciation and amortization	884	840	791
Taxes, other than income taxes	1,845	1,723	1,545
TOTAL OPERATING EXPENSES	10,699	11,205	11,133
OPERATING INCOME	2,239	2,120	1,899
OTHER INCOME (DEDUCTIONS)
Investment and other income	23	46	32
Allowance for equity funds used during construction	11	15	14
Other deductions	(17)	(21)	(15)
TOTAL OTHER INCOME (DEDUCTIONS)	17	40	31
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE	2,256	2,160	1,930
INTEREST EXPENSE
Interest on long-term debt	582	597	590
Other interest	18	21	30
Allowance for borrowed funds used during construction	(6)	(9)	(9)
NET INTEREST EXPENSE	594	609	611
INCOME BEFORE INCOME TAX EXPENSE	1,662	1,551	1,319
INCOME TAX EXPENSE	600	548	440
NET INCOME	1,062	1,003	879
Preferred stock dividend requirements of subsidiary	(11)	(11)	(11)
NET INCOME FOR COMMON STOCK	1,051	992	868
Net income for common stock per common share - basic	$ 3.59	$ 3.49	$ 3.16
Net income for common stock per common share - diluted	$ 3.57	$ 3.47	$ 3.14
DIVIDENDS DECLARED PER SHARE OF COMMON STOCK	$ 2.40	$ 2.38	$ 2.36
AVERAGE NUMBER OF SHARES OUTSTANDING - BASIC (IN MILLIONS)	292.6	284.3	275.2
AVERAGE NUMBER OF SHARES OUTSTANDING - DILUTED (IN MILLIONS)	294.4	285.9	276.3
CECONY [Member]
OPERATING REVENUES
Electric	8,280	8,376	7,674
Gas	1,521	1,541	1,701
Steam	683	656	661
TOTAL OPERATING REVENUES	10,484	10,573	10,036
OPERATING EXPENSES
Purchased power	2,313	2,683	2,583
Fuel	412	458	503
Gas purchased for resale	518	574	818
Other operations and maintenance	2,561	2,493	2,186
Depreciation and amortization	829	787	744
Taxes, other than income taxes	1,768	1,656	1,486
TOTAL OPERATING EXPENSES	8,401	8,651	8,320
OPERATING INCOME	2,083	1,922	1,716
OTHER INCOME (DEDUCTIONS)
Investment and other income	4	32	34
Allowance for equity funds used during construction	8	13	12
Other deductions	(14)	(19)	(13)
TOTAL OTHER INCOME (DEDUCTIONS)	(2)	26	33
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE	2,081	1,948	1,749
INTEREST EXPENSE
Interest on long-term debt	523	537	534
Other interest	16	19	27
Allowance for borrowed funds used during construction	(5)	(7)	(8)
NET INTEREST EXPENSE	534	549	553
INCOME BEFORE INCOME TAX EXPENSE	1,547	1,399	1,196
NET INCOME	989	904	792
Preferred stock dividend requirements of subsidiary	(11)	(11)	(11)
NET INCOME FOR COMMON STOCK	$ 978	$ 893	$ 781

Consolidated Statement Of Cash Flows (USD $)
In Millions, unless otherwise specified

12 Months Ended

Dec. 31, 2011

Dec. 31, 2010

Dec. 31, 2009

OPERATING ACTIVITIES

Net Income

$ 1,062

$ 1,003

$ 879

PRINCIPAL NON-CASH CHARGES/(CREDITS) TO INCOME

Depreciation and amortization

884

840

791

Deferred income taxes

491

659

436

Rate case amortization and accruals

(63)

Common equity component of allowance for funds used during construction

(11)

(15)

(14)

Net derivative (gains)/losses

(19)

(31)

Other non-cash items (net)

144

(18)

(77)

CHANGES IN ASSETS AND LIABILITIES

Accounts receivable - customers, less allowance for uncollectibles

(126)

Materials and supplies, including fuel oil and gas in storage

(8)

161

Other receivables and other current assets

207

(346)

Prepayments

196

(210)

566

Recoverable energy costs

Accounts payable

(195)

(22)

(18)

Pensions and retiree benefits

151

(14)

Superfund and environmental remediation costs (net)

(9)

(3)

(48)

Accrued taxes

(6)

Accrued interest

(1)

Deferred charges, noncurrent assets and other regulatory assets

(139)

(287)

122

Deferred credits and other regulatory liabilities

234

(23)

Other assets

(9)

(5)

Other liabilities

166

(2)

NET CASH FLOWS FROM OPERATING ACTIVITIES

3,137

2,381

2,466

INVESTING ACTIVITIES

Utility construction expenditures

(1,887)

(1,986)

(2,170)

Cost of removal less salvage

(167)

(149)

(181)

Non-utility construction expenditures

(80)

(28)

(9)

Proceeds from investment tax credits and grants related to renewable energy investments

Net investment in Pilesgrove solar project

(20)

Purchase of additional ownership interest in Honeoye Storage Corporation

(12)

NET CASH FLOWS USED IN INVESTING ACTIVITIES

(2,150)

(2,175)

(2,360)

FINANCING ACTIVITIES

Net payments of short-term debt

(363)

Issuance of long-term debt

1,095

1,470

Retirement of long-term debt

(4)

(1,011)

(662)

Issuance of common stock

118

439

257

Repurchase of common stock

(87)

Debt issuance costs

(11)

(10)

Common stock dividends

(693)

(629)

(601)

Preferred stock dividends

(11)

NET CASH FLOWS (USED IN)/FROM FINANCING ACTIVITIES

(677)

(128)

CASH AND TEMPORARY CASH INVESTMENTS:

NET CHANGE FOR THE PERIOD

310

186

BALANCE AT BEGINNING OF PERIOD

338

260

BALANCE AT END OF PERIOD

648

338

260

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION

Interest

563

583

558

Income taxes

(236)

(25)

CECONY [Member]

OPERATING ACTIVITIES

Net Income

989

904

792

PRINCIPAL NON-CASH CHARGES/(CREDITS) TO INCOME

Depreciation and amortization

829

787

744

Deferred income taxes

462

622

364

Rate case amortization and accruals

(63)

Common equity component of allowance for funds used during construction

(8)

(13)

(12)

Other non-cash items (net)

(12)

(56)

CHANGES IN ASSETS AND LIABILITIES

Accounts receivable - customers, less allowance for uncollectibles

(121)

Materials and supplies, including fuel oil and gas in storage

(2)

133

Other receivables and other current assets

170

(122)

Prepayments

(3)

456

Recoverable energy costs

111

Accounts payable

(132)

(17)

(118)

Pensions and retiree benefits

102

Superfund and environmental remediation costs (net)

(9)

(8)

(51)

Accrued taxes

(16)

Accrued interest

(7)

Deferred charges, noncurrent assets and other regulatory assets

(32)

(294)

Deferred credits and other regulatory liabilities

224

(25)

Other liabilities

185

(25)

NET CASH FLOWS FROM OPERATING ACTIVITIES

2,933

2,205

2,222

INVESTING ACTIVITIES

Utility construction expenditures

(1,785)

(1,853)

(2,045)

Cost of removal less salvage

(162)

(145)

(176)

Loan to affiliate

113

NET CASH FLOWS USED IN INVESTING ACTIVITIES

(1,947)

(1,998)

(2,108)

FINANCING ACTIVITIES

Net payments of short-term debt

(253)

Issuance of long-term debt

925

1,350

Retirement of long-term debt

(850)

(655)

Debt issuance costs

(9)

(10)

Capital contribution by parent

355

211

Dividend to parent

(681)

(670)

(652)

Common stock dividends

(681)

^[1]

(670)

^[1]

(652)

^[1]

Preferred stock dividends

(11)

NET CASH FLOWS (USED IN)/FROM FINANCING ACTIVITIES

(692)

(260)

(20)

CASH AND TEMPORARY CASH INVESTMENTS:

NET CHANGE FOR THE PERIOD

294

(53)

BALANCE AT BEGINNING OF PERIOD

131

BALANCE AT END OF PERIOD

372

131

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION

Interest

504

528

513

Income taxes

$ (198)

$ (18)

$ 18

[1]	These financial statements, in which Con Edison's subsidiaries have been included using the equity method, should be read together with its consolidated financial statements and the notes thereto appearing above.

Consolidated Balance Sheet (USD $) In Millions, unless otherwise specified	Dec. 31, 2011	Dec. 31, 2010
CURRENT ASSETS
Cash and temporary cash investments	$ 648	$ 338
Accounts receivable - customers, less allowance for uncollectible accounts	1,123	1,173
Accrued unbilled revenue	474	633
Other receivables, less allowance for uncollectible accounts	303	293
Fuel oil, gas in storage, materials and supplies, at average cost	356	348
Prepayments	145	341
Deferred tax assets - Current	266	162
Regulatory assets	164	203
Other current assets	159	178
TOTAL CURRENT ASSETS	3,638	3,669
INVESTMENTS	455	403
UTILITY PLANT AT ORIGINAL COST
General	1,960	1,911
TOTAL	29,775	28,144
Less: Accumulated depreciation	6,051	5,808
Net	23,724	22,336
Construction work in progress	1,241	1,458
NET UTILITY PLANT	24,965	23,794
NON-UTILITY PLANT
Non-utility property, less accumulated depreciation	89	46
Construction work in progress	39	23
NET PLANT	25,093	23,863
OTHER NONCURRENT ASSETS
Goodwill	429	429
Intangible assets, less accumulated amortization of $3 in 2011 and 2010	3	3
Regulatory assets	9,337	7,683
Other deferred charges and noncurrent assets	259	298
TOTAL OTHER NONCURRENT ASSETS	10,028	8,413
TOTAL ASSETS	39,214	36,348
CURRENT LIABILITIES
Long-term debt due within one year	530	5
Accounts payable	961	1,151
Customer deposits	303	289
Accrued taxes	188	90
Accrued interest	160	155
Accrued wages	90	102
Fair value of derivative liabilities	169	125
Regulatory liabilities	118	159
Other current liabilities	468	454
TOTAL CURRENT LIABILITIES	2,987	2,530
NONCURRENT LIABILITIES
Obligations under capital leases	2	7
Provision for injuries and damages	181	165
Pensions and retiree benefits	4,835	3,287
Superfund and other environmental costs	489	512
Asset retirement obligations	145	109
Fair value of derivative liabilities	48	77
Other noncurrent liabilities	131	113
TOTAL NONCURRENT LIABILITIES	5,831	4,270
DEFERRED CREDITS AND REGULATORY LIABILITIES
Deferred income taxes and investment tax credits	7,563	6,769
Regulatory liabilities	977	788
Other deferred credits	64	46
TOTAL DEFERRED CREDITS AND REGULATORY LIABILITIES	8,604	7,603
LONG-TERM DEBT (See Statement of Capitalization)	10,143	10,671
SHAREHOLDER'S EQUITY
Common shareholders' equity (See Statement of Common Shareholders' Equity)	11,436	11,061
Preferred stock of subsidiary (See Statement of Capitalization)	213	213
TOTAL SHAREHOLDER'S EQUITY	11,649	11,274
TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY	39,214	36,348
CECONY [Member]
CURRENT ASSETS
Cash and temporary cash investments	372	78
Accounts receivable - customers, less allowance for uncollectible accounts	977	1,025
Accrued unbilled revenue	366	473
Other receivables, less allowance for uncollectible accounts	102	73
Accounts receivable from affiliated companies	54	273
Fuel oil, gas in storage, materials and supplies, at average cost	308	306
Prepayments	85	82
Deferred tax assets - Current	157	131
Regulatory assets	140	151
Other current assets	100	104
TOTAL CURRENT ASSETS	2,661	2,696
INVESTMENTS	177	167
UTILITY PLANT AT ORIGINAL COST
General	1,785	1,746
TOTAL	27,854	26,363
Less: Accumulated depreciation	5,523	5,314
Net	22,331	21,049
Construction work in progress	1,165	1,345
NET UTILITY PLANT	23,496	22,394
NON-UTILITY PLANT
Non-utility property, less accumulated depreciation	6	7
NET PLANT	23,502	22,401
OTHER NONCURRENT ASSETS
Regulatory assets	8,661	7,097
Other deferred charges and noncurrent assets	217	244
TOTAL OTHER NONCURRENT ASSETS	8,878	7,341
TOTAL ASSETS	35,218	32,605
CURRENT LIABILITIES
Long-term debt due within one year	525
Accounts payable	774	924
Accounts payable to affiliated companies	16	13
Customer deposits	290	276
Accrued taxes	32	34
Accrued taxes to affiliated companies	126	29
Accrued interest	133	130
Accrued wages	81	93
Fair value of derivative liabilities	98	71
Regulatory liabilities	79	131
Other current liabilities	396	400
TOTAL CURRENT LIABILITIES	2,550	2,101
NONCURRENT LIABILITIES
Obligations under capital leases	2	7
Provision for injuries and damages	173	159
Pensions and retiree benefits	4,337	2,900
Superfund and other environmental costs	373	392
Asset retirement obligations	145	109
Fair value of derivative liabilities	24	29
Other noncurrent liabilities	120	102
TOTAL NONCURRENT LIABILITIES	5,174	3,698
DEFERRED CREDITS AND REGULATORY LIABILITIES
Deferred income taxes and investment tax credits	6,921	6,202
Regulatory liabilities	861	683
Other deferred credits	61	42
TOTAL DEFERRED CREDITS AND REGULATORY LIABILITIES	7,843	6,927
LONG-TERM DEBT (See Statement of Capitalization)	9,220	9,743
SHAREHOLDER'S EQUITY
Common shareholders' equity (See Statement of Common Shareholders' Equity)	10,218	9,923
Preferred stock of subsidiary (See Statement of Capitalization)	213	213
TOTAL SHAREHOLDER'S EQUITY	10,431	10,136
TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY	35,218	32,605
Electric Transmission [Member]
UTILITY PLANT AT ORIGINAL COST
Utility plant, at original cost	21,105	19,851
Electric Transmission [Member] \| CECONY [Member]
UTILITY PLANT AT ORIGINAL COST
Utility plant, at original cost	19,886	18,735
Gas Transmission [Member]
UTILITY PLANT AT ORIGINAL COST
Utility plant, at original cost	4,727	4,344
Gas Transmission [Member] \| CECONY [Member]
UTILITY PLANT AT ORIGINAL COST
Utility plant, at original cost	4,200	3,844
Steam Plant [Member]
UTILITY PLANT AT ORIGINAL COST
Utility plant, at original cost	1,983	2,038
Steam Plant [Member] \| CECONY [Member]
UTILITY PLANT AT ORIGINAL COST
Utility plant, at original cost	$ 1,983	$ 2,038

Consolidated Balance Sheet (Parenthetical) (USD $) In Millions, unless otherwise specified	Dec. 31, 2011	Dec. 31, 2010
Accounts receivable - customers, allowance for uncollectible accounts	$ 87	$ 76
Other receivables, allowance for uncollectible accounts	10	8
Non-utility property, accumulated depreciation	59	51
Intangible assets, accumulated amortization	3	3
CECONY [Member]
Accounts receivable - customers, allowance for uncollectible accounts	79	68
Other receivables, allowance for uncollectible accounts	9	7
Non-utility property, accumulated depreciation	$ 24	$ 22

- Definition

The cumulative amount of depreciation, depletion and amortization (related to property, plant and equipment, but not including land) that has been recognized in the income statement.

+ References+ Details

Consolidated Statement Of Comprehensive Income (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
NET INCOME	$ 1,062	$ 1,003	$ 879
OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAXES
Pension plan liability adjustments, net of taxes	(18)	2	26
Less: Reclassification adjustment for (gains)/losses included in net income, net of $1 taxes in 2009			1
TOTAL OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAXES	(18)	2	25
COMPREHENSIVE INCOME	1,044	1,005	904
Preferred stock dividend requirements of subsidiary	(11)	(11)	(11)
COMPREHENSIVE INCOME FOR COMMON STOCK	1,033	994	893
CECONY [Member]
NET INCOME	989	904	792
OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAXES
Pension plan liability adjustments, net of taxes	(2)	(2)	16
TOTAL OTHER COMPREHENSIVE INCOME/(LOSS), NET OF TAXES	(2)	(2)	16
COMPREHENSIVE INCOME	987	902	808
Preferred stock dividend requirements of subsidiary	$ (11)	$ (11)	$ (11)

- Definition

The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent.

+ References

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

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 8, 9, 10, 11, 12, 13, 14

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 30

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph A5

-Appendix A

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e557-108580

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

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Net Income

-URI http://asc.fasb.org/extlink&oid=6518256

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

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Other Comprehensive Income

-URI http://asc.fasb.org/extlink&oid=6519514

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e540-108580

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

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Comprehensive Income

-URI http://asc.fasb.org/extlink&oid=6508144

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

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph c(3)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e565-108580

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-04.22)

-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

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

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph A7

-Appendix A

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

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph d

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.18)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-04.19)

-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

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

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 87-21

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 130

-Paragraph 10, 15

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28, 29, 30

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 03

-Paragraph 19

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

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Paragraph 20

-Article 9

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 14: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Net Income

-URI http://asc.fasb.org/extlink&oid=6518256

Reference 15: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Other Comprehensive Income

-URI http://asc.fasb.org/extlink&oid=6519514

Reference 16: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

+ Details

- Definition

The increase (decrease) in accumulated comprehensive income during the period related to pension and other postretirement benefit plans, after tax. While for technical reasons this element has no balance attribute, the default assumption is a credit balance consistent with its label.

+ References+ Details

- Definition

This element represents Other Comprehensive Income or Loss, Net of Tax, for the period. Includes deferred gains or losses on qualifying hedges, unrealized holding gains or losses on available-for-sale securities, minimum pension liability, and cumulative translation adjustment. While for technical reasons this element has no balance attribute, the default assumption is a credit balance consistent with its label.

+ References

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

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 12

-Paragraph 10

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 31

-Article 5

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

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Article 3

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 130

-Paragraph 22, 23, 24, 25

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 8

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e599-108580

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

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph c(3)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

- Definition

Net of tax effect of the reclassification adjustment for accumulated gains and losses from derivative instrument designated and qualifying as the effective portion of cash flow hedges included in accumulated comprehensive income that was realized in net income during the period.

+ References

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 130

-Paragraph 24

-Subparagraph b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 133

-Paragraph 31, 46

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 130

-Paragraph 18, 19

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 11

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e637-108580

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 4C

-Subparagraph (c)

-URI http://asc.fasb.org/extlink&oid=6935481&loc=SL5624171-113959

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

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Reclassification Adjustments

-URI http://asc.fasb.org/extlink&oid=6522872

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 15

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e689-108580

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

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph c(3)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Consolidated Statement Of Comprehensive Income (Parenthetical) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Reclassification adjustment for losses included in net income, tax			$ 1
Pension plan liability adjustments, taxes	(12)	5	17
CECONY [Member]
Pension plan liability adjustments, taxes	$ (1)	$ (1)	$ 11

- Definition

Tax effects of the increase (decrease) to accumulated comprehensive income during the period related to benefit plans. While for technical reasons this element has no balance attribute, the default assumption is a credit balance consistent with its label.

+ References+ Details

- Definition

Tax effect on reclassification adjustment for accumulated gains and losses from derivative instrument designated and qualifying as the effective portion of cash flow hedges included in accumulated comprehensive income that was realized in net income during the period.

+ References+ Details

Consolidated Statement Of Common Shareholders' Equity (USD $) In Millions, except Share data	Common Stock [Member] CECONY [Member]	Common Stock [Member]	Additional Paid-In Capital [Member] CECONY [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member] CECONY [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Repurchased Con Edison Stock [Member] CECONY [Member]	Capital Stock Expense [Member] CECONY [Member]	Capital Stock Expense [Member]	Accumulated Other Comprehensive Income/(Loss) [Member] CECONY [Member]	Accumulated Other Comprehensive Income/(Loss) [Member]	CECONY [Member]	Total
BEGINNING BALANCE at Dec. 31, 2008	$ 589	$ 29	$ 3,664	$ 4,112	$ 5,780	$ 6,685	$ (1,001)	$ (962)	$ (60)	$ (60)	$ (20)	$ (67)	$ 8,991	$ 9,698
BEGINNING BALANCE (in shares) at Dec. 31, 2008	235,488,094	273,721,686					23,210,700
Net income					792								792	879
Capital contribution by parent			213						(2)				211
Net income for common stock						868							781	868
Common stock dividends					(652)	(649)							(652)	(649)
Cumulative preferred dividends					(11)								(11)	(11)
Issuance of common shares - public offering		1		214						(2)				213
Issuance of common shares - public offering (in shares)		5,000,000
Issuance of common shares - dividend reinvestment and employee stock plans				94										94
Issuance of common shares - dividend reinvestment and employee stock plans (in shares)		2,402,055
Other comprehensive income											16	25	16	25
ENDING BALANCE at Dec. 31, 2009	589	30	3,877	4,420	5,909	6,904	(1,001)	(962)	(62)	(62)	(4)	(42)	9,347	10,249
ENDING BALANCE (in shares) at Dec. 31, 2009	235,488,094	281,123,741					23,210,700
Net income					904								904	1,003
Capital contribution by parent			357						(2)				355
Net income for common stock						992							893	992
Common stock dividends					(670)	(676)							(670)	(676)
Cumulative preferred dividends					(11)								(11)	(11)
Issuance of common shares - public offering		1		307						(2)				306
Issuance of common shares - public offering (in shares)		6,300,000
Issuance of common shares - dividend reinvestment and employee stock plans				188										188
Issuance of common shares - dividend reinvestment and employee stock plans (in shares)		4,192,593
Other comprehensive income											(2)	2	(2)	2
ENDING BALANCE at Dec. 31, 2010	589	31	4,234	4,915	6,132	7,220	(1,001)	(962)	(64)	(64)	(6)	(40)	9,923	11,061
ENDING BALANCE (in shares) at Dec. 31, 2010	235,488,094	291,616,334					23,210,700						235,488,094	291,616,334
Net income					989								989	1,062
Net income for common stock						1,051							978	1,051
Common stock dividends					(681)	(703)							(681)	(703)
Cumulative preferred dividends					(11)								(11)	(11)
Issuance of common shares - dividend reinvestment and employee stock plans		1		76			55							132
Issuance of common shares - dividend reinvestment and employee stock plans (in shares)		1,272,187					(1,538,166)
Common stock repurchases							(87)							(87)
Common stock repurchases (in shares)							1,521,541
Other comprehensive income											(2)	(18)	(2)	(18)
ENDING BALANCE at Dec. 31, 2011	$ 589	$ 32	$ 4,234	$ 4,991	$ 6,429	$ 7,568	$ (1,033)	$ (962)	$ (64)	$ (64)	$ (8)	$ (58)	$ 10,218	$ 11,436
ENDING BALANCE (in shares) at Dec. 31, 2011	235,488,094	292,888,521					23,194,075						235,488,094	292,888,521

Consolidated Statement Of Capitalization (USD $) In Millions, except Share data, unless otherwise specified	Dec. 31, 2011	Dec. 31, 2010
TOTAL COMMON SHAREHOLDERS' EQUITY BEFORE ACCUMULATED OTHER COMPREHENSIVE LOSS	$ 11,494	$ 11,101
TOTAL COMMON SHAREHOLDERS' EQUITY BEFORE ACCUMULATED OTHER COMPREHENSIVE LOSS (in shares)	292,888,521	291,616,334
Pension plan liability adjustments, net of taxes	(55)	(37)
Unrealized gains/(losses) on derivatives qualified as cash flow hedges, net of taxes and reclassification adjustment	(3)	(3)
TOTAL ACCUMULATED OTHER COMPREHENSIVE LOSS, NET OF TAXES	(58)	(40)
TOTAL COMMON SHAREHOLDERS' EQUITY	11,436	11,061
Preferred stock	213	213
CECONY [Member]
TOTAL COMMON SHAREHOLDERS' EQUITY BEFORE ACCUMULATED OTHER COMPREHENSIVE LOSS	10,226	9,929
TOTAL COMMON SHAREHOLDERS' EQUITY BEFORE ACCUMULATED OTHER COMPREHENSIVE LOSS (in shares)	235,488,094	235,488,094
Pension plan liability adjustments, net of taxes	(5)	(3)
Unrealized gains/(losses) on derivatives qualified as cash flow hedges, net of taxes and reclassification adjustment	(3)	(3)
TOTAL ACCUMULATED OTHER COMPREHENSIVE LOSS, NET OF TAXES	(8)	(6)
TOTAL COMMON SHAREHOLDERS' EQUITY	10,218	9,923
Preferred stock	213	213
Cumulative Preferred Stock [Member]
Preferred stock (in shares)	1,915,319	1,915,319
Preferred stock	175	175
Cumulative Preferred Stock [Member] \| CECONY [Member]
Preferred stock (in shares)	1,915,319	1,915,319
Preferred stock	175	175
Cumulative Preferred Stock [Member] \| 4.65% Series C
Preferred stock (in shares)	153,296	153,296
Preferred stock	16	16
Cumulative Preferred Stock [Member] \| 4.65% Series C \| CECONY [Member]
Preferred stock (in shares)	153,296	153,296
Preferred stock	16	16
Cumulative Preferred Stock [Member] \| 4.65% Series D
Preferred stock (in shares)	222,330	222,330
Preferred stock	22	22
Cumulative Preferred Stock [Member] \| 4.65% Series D \| CECONY [Member]
Preferred stock (in shares)	222,330	222,330
Preferred stock	$ 22	$ 22

- Definition

The total of net gain (loss), prior service cost (credit), and transition assets (obligations), as well as minimum pension liability if still remaining, included in accumulated other comprehensive income associated with a defined benefit pension or other postretirement plan(s) because they have yet to be recognized as components of net periodic benefit cost.

+ References

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 130

-Paragraph 26

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 132R

-Paragraph 5

-Subparagraph i

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 158

-Paragraph 7

-Subparagraph c

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 11

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e637-108580

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 14

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e681-108580

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 13

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e653-108580

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 715

-SubTopic 20

-Section 50

-Paragraph 1

-Subparagraph (i)

-URI http://asc.fasb.org/extlink&oid=6962843&loc=d3e1928-114920

+ Details

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References

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

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 12

-Paragraph 10

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 130

-Paragraph 14, 17, 26

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 31

-Article 5

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

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Article 3

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 11

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e637-108580

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 14

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e681-108580

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 13

-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e653-108580

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

-Publisher FASB

-Name FASB Staff Position (FSP)

-Number FAS115-1/124-1

-Paragraph 15D

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

- Definition

Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity.

+ References+ Details

Consolidated Statement Of Capitalization (Parenthetical) (USD $) In Millions, except Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010
Pension plan liability adjustments, tax	$ (34)	$ (22)
Unrealized gains/(losses) on derivatives qualified as cash flow hedges, tax and reclassification adjustment	(2)	(2)
Preferred stock, shares authorized	1,915,319	1,915,319
Preferred stock, no par value
Preferred stock, stated per share amount	$ 5	$ 5
CECONY [Member]
Pension plan liability adjustments, tax	(3)	(2)
Unrealized gains/(losses) on derivatives qualified as cash flow hedges, tax and reclassification adjustment	$ (2)	$ (2)
Preferred stock, shares authorized	1,915,319	1,915,319
Preferred stock, no par value
Preferred stock, stated per share amount	$ 5	$ 5
Cumulative Preferred Stock [Member]
Preferred stock, shares authorized	6,000,000	6,000,000
Preferred stock, par value	$ 100	$ 100
Cumulative Preferred Stock [Member] \| CECONY [Member]
Preferred stock, shares authorized	6,000,000	6,000,000
Preferred stock, par value	$ 100	$ 100

- Definition

Issuance value per share of no-par value, nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer); generally not indicative of the fair market value per share.

+ References+ Details

- Definition

Face amount or stated value per share of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer); generally not indicative of the fair market value per share.

+ References+ Details

Consolidated Statement Of Capitalization - Long-Term Debt (USD $)
In Millions, unless otherwise specified

12 Months Ended

Dec. 31, 2011

Dec. 31, 2010

TOTAL DEBENTURES

$ 9,210

TOTAL TRANSITION BONDS

TOTAL TAX-EXEMPT DEBT

1,130

Other long-term debt

321

323

Unamortized debt discount

(17)

(19)

TOTAL

10,673

10,676

Less: long-term debt due within one year

530

TOTAL LONG-TERM DEBT

10,143

10,671

TOTAL CAPITALIZATION

21,792

21,945

CECONY [Member]

TOTAL DEBENTURES

8,675

TOTAL TAX-EXEMPT DEBT

1,086

Unamortized debt discount

(16)

(18)

TOTAL

9,745

9,743

Less: long-term debt due within one year

525

TOTAL LONG-TERM DEBT

9,220

9,743

TOTAL CAPITALIZATION

19,651

19,879

Debenture Series 2002A, 5.625% Due 2012 [Member]

Debt Instrument, Fair Value

300

Interest Rate

5.625%

Maturity Date

2012

Debenture Series 2002A, 5.625% Due 2012 [Member] | CECONY [Member]

Debt Instrument, Fair Value

300

Interest Rate

5.625%

Maturity Date

2012

Debenture Series 2002B, 4.875% Due 2013 [Member]

Debt Instrument, Fair Value

500

Interest Rate

4.875%

Maturity Date

2013

Debenture Series 2002B, 4.875% Due 2013 [Member] | CECONY [Member]

Debt Instrument, Fair Value

500

Interest Rate

4.875%

Maturity Date

2013

Debenture Series 2003B, 3.85% Due 2013 [Member]

Debt Instrument, Fair Value

200

Interest Rate

3.85%

Maturity Date

2013

Debenture Series 2003B, 3.85% Due 2013 [Member] | CECONY [Member]

Debt Instrument, Fair Value

200

Interest Rate

3.85%

Maturity Date

2013

Debenture Series 2004A, 4.70% Due 2014 [Member]

Debt Instrument, Fair Value

200

Interest Rate

4.70%

Maturity Date

2014

Debenture Series 2004A, 4.70% Due 2014 [Member] | CECONY [Member]

Debt Instrument, Fair Value

200

Interest Rate

4.70%

Maturity Date

2014

Debenture Series 2009A, 5.55% Due 2014 [Member]

Debt Instrument, Fair Value

275

Interest Rate

5.55%

Maturity Date

2014

Debenture Series 2009A, 5.55% Due 2014 [Member] | CECONY [Member]

Debt Instrument, Fair Value

275

Interest Rate

5.55%

Maturity Date

2014

Debenture Series 2005A, 5.30% Due 2015 [Member]

Debt Instrument, Fair Value

Interest Rate

5.30%

Maturity Date

2015

Debenture Series 2005C, 5.375% Due 2015 [Member]

Debt Instrument, Fair Value

350

Interest Rate

5.375%

Maturity Date

2015

Debenture Series 2005C, 5.375% Due 2015 [Member] | CECONY [Member]

Debt Instrument, Fair Value

350

Interest Rate

5.375%

Maturity Date

2015

Debenture Series 2010A, 2.50% Due 2015 [Member]

Debt Instrument, Fair Value

Interest Rate

2.50%

Maturity Date

2015

Debenture Series 2006A, 5.45% Due 2016 [Member]

Debt Instrument, Fair Value

Interest Rate

5.45%

Maturity Date

2016

Debenture Series 2006C, 5.50% Due 2016 [Member]

Debt Instrument, Fair Value

400

Interest Rate

5.50%

Maturity Date

2016

Debenture Series 2006C, 5.50% Due 2016 [Member] | CECONY [Member]

Debt Instrument, Fair Value

400

Interest Rate

5.50%

Maturity Date

2016

Debenture Series 2006D, 5.30% Due 2016 [Member]

Debt Instrument, Fair Value

250

Interest Rate

5.30%

Maturity Date

2016

Debenture Series 2006D, 5.30% Due 2016 [Member] | CECONY [Member]

Debt Instrument, Fair Value

250

Interest Rate

5.30%

Maturity Date

2016

Debenture Series 2008A, 5.85% Due 2018 [Member]

Debt Instrument, Fair Value

600

Interest Rate

5.85%

Maturity Date

2018

Debenture Series 2008A, 5.85% Due 2018 [Member] | CECONY [Member]

Debt Instrument, Fair Value

600

Interest Rate

5.85%

Maturity Date

2018

Debenture Series 2008A, 6.15% Due 2018 [Member]

Debt Instrument, Fair Value

Interest Rate

6.15%

Maturity Date

2018

Debenture Series 2008C, 7.125% Due 2018 [Member]

Debt Instrument, Fair Value

600

Interest Rate

7.125%

Maturity Date

2018

Debenture Series 2008C, 7.125% Due 2018 [Member] | CECONY [Member]

Debt Instrument, Fair Value

600

Interest Rate

7.125%

Maturity Date

2018

Debenture Series 2009A, 4.96% Due 2019 [Member]

Debt Instrument, Fair Value

Interest Rate

4.96%

Maturity Date

2019

Debenture Series 2009B, 6.65% Due 2019 [Member]

Debt Instrument, Fair Value

475

Interest Rate

6.65%

Maturity Date

2019

Debenture Series 2009B, 6.65% Due 2019 [Member] | CECONY [Member]

Debt Instrument, Fair Value

475

Interest Rate

6.65%

Maturity Date

2019

Debenture Series 2010A, 4.45% Due 2020 [Member]

Debt Instrument, Fair Value

350

Interest Rate

4.45%

Maturity Date

2020

Debenture Series 2010A, 4.45% Due 2020 [Member] | CECONY [Member]

Debt Instrument, Fair Value

350

Interest Rate

4.45%

Maturity Date

2020

Debenture Series 1997F, 6.50% Due 2027 [Member]

Debt Instrument, Fair Value

Interest Rate

6.50%

Maturity Date

2027

Debenture Series 2003A, 5.875% Due 2033 [Member]

Debt Instrument, Fair Value

175

Interest Rate

5.875%

Maturity Date

2033

Debenture Series 2003A, 5.875% Due 2033 [Member] | CECONY [Member]

Debt Instrument, Fair Value

175

Interest Rate

5.875%

Maturity Date

2033

Debenture Series 2003C, 5.10% Due 2033 [Member]

Debt Instrument, Fair Value

200

Interest Rate

5.10%

Maturity Date

2033

Debenture Series 2003C, 5.10% Due 2033 [Member] | CECONY [Member]

Debt Instrument, Fair Value

200

Interest Rate

5.10%

Maturity Date

2033

Debenture Series 2004B, 5.70% Due 2034 [Member]

Debt Instrument, Fair Value

200

Interest Rate

5.70%

Maturity Date

2034

Debenture Series 2004B, 5.70% Due 2034 [Member] | CECONY [Member]

Debt Instrument, Fair Value

200

Interest Rate

5.70%

Maturity Date

2034

Debenture Series 2005A, 5.30% Due 2035 [Member]

Debt Instrument, Fair Value

350

Interest Rate

5.30%

Maturity Date

2035

Debenture Series 2005A, 5.30% Due 2035 [Member] | CECONY [Member]

Debt Instrument, Fair Value

350

Interest Rate

5.30%

Maturity Date

2035

Debenture Series 2005B, 5.25% Due 2035 [Member]

Debt Instrument, Fair Value

125

Interest Rate

5.25%

Maturity Date

2035

Debenture Series 2005B, 5.25% Due 2035 [Member] | CECONY [Member]

Debt Instrument, Fair Value

125

Interest Rate

5.25%

Maturity Date

2035

Debenture Series 2006A, 5.85% Due 2036 [Member]

Debt Instrument, Fair Value

400

Interest Rate

5.85%

Maturity Date

2036

Debenture Series 2006A, 5.85% Due 2036 [Member] | CECONY [Member]

Debt Instrument, Fair Value

400

Interest Rate

5.85%

Maturity Date

2036

Debenture Series 2006B, 6.20% Due 2036 [Member]

Debt Instrument, Fair Value

400

Interest Rate

6.20%

Maturity Date

2036

Debenture Series 2006B, 6.20% Due 2036 [Member] | CECONY [Member]

Debt Instrument, Fair Value

400

Interest Rate

6.20%

Maturity Date

2036

Debenture Series 2006E, 5.70% Due 2036 [Member]

Debt Instrument, Fair Value

250

Interest Rate

5.70%

Maturity Date

2036

Debenture Series 2006E, 5.70% Due 2036 [Member] | CECONY [Member]

Debt Instrument, Fair Value

250

Interest Rate

5.70%

Maturity Date

2036

Debenture Series 2007A, 6.30% Due 2037 [Member]

Debt Instrument, Fair Value

525

Interest Rate

6.30%

Maturity Date

2037

Debenture Series 2007A, 6.30% Due 2037 [Member] | CECONY [Member]

Debt Instrument, Fair Value

525

Interest Rate

6.30%

Maturity Date

2037

Debenture Series 2008B, 6.75% Due 2038 [Member]

Debt Instrument, Fair Value

600

Interest Rate

6.75%

Maturity Date

2038

Debenture Series 2008B, 6.75% Due 2038 [Member] | CECONY [Member]

Debt Instrument, Fair Value

600

Interest Rate

6.75%

Maturity Date

2038

Debenture Series 2009B, 6.00% Due 2039 [Member]

Debt Instrument, Fair Value

Interest Rate

6.00%

Maturity Date

2039

Debenture Series 2009C, 5.50% Due 2039 [Member]

Debt Instrument, Fair Value

600

Interest Rate

5.50%

Maturity Date

2039

Debenture Series 2009C, 5.50% Due 2039 [Member] | CECONY [Member]

Debt Instrument, Fair Value

600

Interest Rate

5.50%

Maturity Date

2039

Debenture Series 2010B, 5.70% Due 2040 [Member]

Debt Instrument, Fair Value

350

Interest Rate

5.70%

Maturity Date

2040

Debenture Series 2010B, 5.70% Due 2040 [Member] | CECONY [Member]

Debt Instrument, Fair Value

350

Interest Rate

5.70%

Maturity Date

2040

Debenture Series 2010B, 5.50% Due 2040 [Member]

Debt Instrument, Fair Value

115

Interest Rate

5.50%

Maturity Date

2040

Transition Bonds Series 2004-1, 5.22% Due 2019 [Member]

Interest Rate

5.22%

^[1]

Maturity Date

2019

^[1]

Transition Bonds

^[1]

Tax Exempt Debt Series 1995 0.20 % Due 2015 [Member]

Debt Instrument, Fair Value

^[2],[3]

Interest Rate

0.20%

^[2],[3]

Maturity Date

2015

^[2],[3]

Tax Exempt Debt Series 2004B-1, 0.193% Due 2032 [Member]

Debt Instrument, Fair Value

127

^[2]

127

^[2]

Interest Rate

0.193%

^[2]

Maturity Date

2032

^[2]

Tax Exempt Debt Series 2004B-1, 0.193% Due 2032 [Member] | CECONY [Member]

Debt Instrument, Fair Value

127

^[2]

127

^[2]

Interest Rate

0.193%

^[2]

Maturity Date

2032

^[2]

Tax Exempt Debt Series 1999A, 0.139% Due 2034 [Member]

Debt Instrument, Fair Value

293

^[2]

293

^[2]

Interest Rate

0.139%

^[2]

Maturity Date

2034

^[2]

Tax Exempt Debt Series 1999A, 0.139% Due 2034 [Member] | CECONY [Member]

Debt Instrument, Fair Value

293

^[2]

293

^[2]

Interest Rate

0.139%

^[2]

Maturity Date

2034

^[2]

Tax Exempt Debt Series 2004B-2, 0.193% Due 2035 [Member]

Debt Instrument, Fair Value

^[2]

Interest Rate

0.193%

^[2]

Maturity Date

2035

^[2]

Tax Exempt Debt Series 2004B-2, 0.193% Due 2035 [Member] | CECONY [Member]

Debt Instrument, Fair Value

^[2]

Interest Rate

0.193%

^[2]

Maturity Date

2035

^[2]

Tax Exempt Debt Series 2001B, 0.222 Due 2036 [Member]

Debt Instrument, Fair Value

^[2]

Interest Rate

0.222%

^[2]

Maturity Date

2036

^[2]

Tax Exempt Debt Series 2001B, 0.222 Due 2036 [Member] | CECONY [Member]

Debt Instrument, Fair Value

^[2]

Interest Rate

0.222%

^[2]

Maturity Date

2036

^[2]

Tax Exempt Debt Series 2010A, 1.45% Due 2036 [Member]

Debt Instrument, Fair Value

225

^[2],[4]

225

^[2],[4]

Interest Rate

1.45%

^[2],[4]

Maturity Date

2036

^[2],[4]

Tax Exempt Debt Series 2010A, 1.45% Due 2036 [Member] | CECONY [Member]

Debt Instrument, Fair Value

225

^[2]

225

^[2]

Interest Rate

1.45%

^[2]

Maturity Date

2036

^[2]

Tax Exempt Debt Series 2004A, 0.21 % Due 2039 [Member]

Debt Instrument, Fair Value

^[2]

Interest Rate

0.21%

^[2]

Maturity Date

2039

^[2]

Tax Exempt Debt Series 2004A, 0.21 % Due 2039 [Member] | CECONY [Member]

Debt Instrument, Fair Value

^[2]

Interest Rate

0.21%

^[2]

Maturity Date

2039

^[2]

Tax Exempt Debt Series 2004C, 0.08% Due 2039 [Member]

Debt Instrument, Fair Value

^[2]

Interest Rate

0.08%

^[2]

Maturity Date

2039

^[2]

Tax Exempt Debt Series 2004C, 0.08% Due 2039 [Member] | CECONY [Member]

Debt Instrument, Fair Value

^[2]

Interest Rate

0.08%

^[2]

Maturity Date

2039

^[2]

Tax Exempt Debt Series 2005A, 0.067% Due 2039 [Member]

Debt Instrument, Fair Value

126

^[2]

126

^[2]

Interest Rate

0.067%

^[2]

Maturity Date

2039

^[2]

Tax Exempt Debt Series 2005A, 0.067% Due 2039 [Member] | CECONY [Member]

Debt Instrument, Fair Value

$ 126

^[2]

$ 126

^[2]

Interest Rate

0.067%

^[2]

Maturity Date

2039

^[2]

[1]	The final date to pay the entire remaining unpaid principal balance, if any, of all outstanding bonds is May 17, 2021.
[2]	Other than Series 2010A, rates reset weekly or by auction held every 35 days; December 30, 2011 rates shown.
[3]	Issued for O&R pollution control financing.
[4]	Subject to mandatory tender in 2012.

General	12 Months Ended
General	Dec. 31, 2011
General	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. 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.
CECONY [Member]
General	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. 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

12 Months Ended

Dec. 31, 2011

Summary Of Significant Accounting Policies

Note A — Summary of Significant Accounting Policies

Principles of Consolidation

The Companies' consolidated financial statements include the accounts of their respective majority-owned subsidiaries, and variable interest entities (see Note Q), as required. All intercompany balances and transactions have been eliminated.

Accounting Policies

The accounting policies of Con Edison and its subsidiaries conform to accounting principles generally accepted in the United States of America. For the Utilities, these accounting principles include the accounting rules for regulated operations and the accounting requirements of the Federal Energy Regulatory Commission (FERC) and the state public utility regulatory commissions having jurisdiction.

The accounting rules for regulated operations specify the economic effects that result from the causal relationship of costs and revenues in the rate-regulated environment and how these effects are to be accounted for by a regulated enterprise. Revenues intended to cover some costs may be recorded either before or after the costs are incurred. If regulation provides assurance that incurred costs will be recovered in the future, these costs would be recorded as deferred charges or "regulatory assets" under the accounting rules for regulated operations. If revenues are recorded for costs that are expected to be incurred in the future, these revenues would be recorded as deferred credits or "regulatory liabilities" under the accounting rules for regulated operations.

The Utilities' principal regulatory assets and liabilities are detailed in Note B. The Utilities are receiving or being credited with a return on all of their regulatory assets for which a cash outflow has been made, and are paying or being charged with a return on all of their regulatory liabilities for which a cash inflow has been received. The Utilities' regulatory assets and liabilities will be recovered from customers, or applied for customer benefit, in accordance with rate provisions approved by the applicable public utility regulatory commission.

Other significant accounting policies of the Companies are referenced below in this Note A and in the notes that follow.

Plant and Depreciation

Utility Plant

Utility plant is stated at original cost. The cost of repairs and maintenance is charged to expense and the cost of betterments is capitalized. The capitalized cost of additions to utility plant includes indirect costs such as engineering, supervision, payroll taxes, pensions, other benefits and an allowance for funds used during construction (AFDC). The original cost of property is charged to expense over the estimated useful lives of the assets. Upon retirement, the original cost of property is charged to accumulated depreciation. See Note R.

Rates used for AFDC include the cost of borrowed funds and a reasonable rate of return on the Utilities' own funds when so used, determined in accordance with regulations of the FERC or the state public utility regulatory authority having jurisdiction. The rate is compounded semiannually, and the amounts applicable to borrowed funds are treated as a reduction of interest charges, while the amounts applicable to the Utilities' own funds are credited to other income (deductions). The AFDC rates for CECONY were 6.9 percent, 5.3 percent and 6.9 percent for 2011, 2010, and 2009, respectively. The AFDC rates for O&R were 6.6 percent, 5.8 percent and 4.2 percent for 2011, 2010, and 2009, respectively.

The Utilities generally compute annual charges for depreciation using the straight-line method for financial statement purposes, with rates based on average service lives and net salvage factors. The average depreciation rate for CECONY was 3.1 percent for 2011, 2010, and 2009. The average depreciation rate for O&R was 2.8 percent for 2011, 2010, and 2009.

The estimated lives for utility plant for CECONY range from 5 to 80 years for electric, 5 to 85 years for gas, 5 to 70 years for steam and 5 to 50 years for general plant. For O&R, the estimated lives for utility plant range from 5 to 75 years for electric, 5 to 75 years for gas and 5 to 50 years for general plant.

At December 31, 2011 and 2010, the capitalized cost of the Companies' utility plant, net of accumulated depreciation, was as follows:


	Con Edison				CECONY
*(millions of dollars)*	2011		2010		2011		2010
Electric
Generation	$	400	$	396	$	400	$	396
Transmission		2,654		2,284		2,476		2,150
Distribution		13,805		13,191		13,125		12,549
Gas*		3,858		3,535		3,455		3,153
Steam		1,651		1,617		1,651		1,617
General		1,282		1,241		1,162		1,125
Held for future use		74		72		62		60
Construction work in progress		1,241		1,458		1,165		1,344
Net Utility Plant	$	24,965	$	23,794	$	23,496	$	22,394

*	Primarily distribution.

Under the Utilities' current rate plans, the aggregate annual depreciation allowance in effect at December 31, 2011 was $877 million, including $834 million under CECONY's electric, gas and steam rate plans that have been approved by the New York State Public Service Commission (NYSPSC).

Non-Utility Plant

Non-utility plant is stated at original cost and consists primarily of land, telecommunication, gas storage and solar facilities that are currently not used within electric, gas or steam utility operations. Depreciation on these assets is computed using the straight-line method for financial statement purposes over their estimated useful lives, which range from 3 to 30 years.

Goodwill

In accordance with the accounting rules for goodwill and intangible assets, Con Edison is required to test goodwill for impairment annually. Goodwill is tested for impairment using a two-step approach. The first step of the goodwill impairment test compares the estimated fair value of a reporting unit with its carrying value, including goodwill. If the estimated fair value of a reporting unit exceeds its carrying value, goodwill of the reporting unit is considered not impaired. If the carrying value exceeds the estimated fair value of the reporting unit, the second step is performed to measure the amount of impairment loss, if any. The second step requires a calculation of the implied fair value of goodwill. See Note K and Note T.

Impairments

In accordance with the accounting rules for impairment or disposal of long-lived assets, the Companies evaluate the impairment of long-lived assets, based on projections of undiscounted future cash flows, whenever events or changes in circumstances indicate that the carrying amounts of such assets may not be recoverable. In the event an evaluation indicates that such cash flows cannot be expected to be sufficient to fully recover the assets, the assets are written down to their estimated fair value.

In accordance with the accounting rules for equity method and joint ventures, Con Edison Development recognized a pre-tax impairment charge of $5 million in 2009, related to its equity investment in an electric generating plant in Guatemala (which was sold in 2010). No impairment charges were recognized in 2011 and 2010.

Revenues

The Utilities and Con Edison Solutions recognize revenues for energy service on a monthly billing cycle basis. The Utilities defer over a 12-month period net interruptible gas revenues, other than those authorized by the NYSPSC to be retained by the Utilities, for refund to firm gas sales and transportation customers. The Utilities and Con Edison Solutions accrue revenues at the end of each month for estimated energy service not yet billed to customers. Prior to March 31, 2009, CECONY did not accrue revenues for energy service provided but not yet billed to customers except for certain unbilled gas revenues accrued in 1989. This change in accounting for unbilled revenues had no effect on net income. See "Regulatory Assets and Liabilities" in Note B. Unbilled revenues included in Con Edison's balance sheet at December 31, 2011 and 2010 were $474 million (including $366 million for CECONY) and $633 million (including $473 million for CECONY), respectively.

CECONY's electric and gas rate plans and O&R's New York electric and gas rate plans each contain a revenue decoupling mechanism under which the company's actual energy delivery revenues are compared on a periodic basis, with the authorized delivery revenues and the difference accrued, with interest, for refund to, or recovery from, customers, as applicable. See "Rate Agreements" in Note B.

The NYSPSC requires utilities to record gross receipts tax revenues and expenses on a gross income statement presentation basis (i.e., included in both revenue and expense). The recovery of these taxes is generally provided for in the revenue requirement within each of the respective NYSPSC approved rate plans.

Recoverable Energy Costs

The Utilities generally recover all of their prudently incurred fuel, purchased power and gas costs, including hedging gains and losses, in accordance with rate provisions approved by the applicable state public utility commissions. If the actual energy supply costs for a given month are more or less than the amounts billed to customers for that month, the difference in most cases is recoverable from or refundable to customers. Differences between actual and billed electric and steam supply costs are generally deferred for charge or refund to customers during the next billing cycle (normally within one or two months). In addition, CECONY recovers the costs of its electric demand management program, in excess of the costs reflected in rates, as part of recoverable energy costs. For the Utilities' gas costs, differences between actual and billed gas costs during the 12-month period ending each August are charged or refunded to customers during a subsequent 12-month period.

New York Independent System Operator (NYISO)

The Utilities purchase electricity through the wholesale electricity market administered by the NYISO. The difference between purchased power and related costs initially billed to the Utilities by the NYISO and the actual cost of power subsequently calculated by the NYISO is refunded by the NYISO to the Utilities, or paid to the NYISO by the Utilities. The reconciliation payments or receipts are recoverable from or refundable to the Utilities' customers.

Certain other payments to or receipts from the NYISO are also subject to reconciliation, with shortfalls or amounts in excess of specified rate allowances recoverable from or refundable to customers. These include proceeds from the sale through the NYISO of transmission rights on CECONY's transmission system (transmission congestion contracts or TCCs).

Sulfur Dioxide (SO₂) Allowances

In accordance with the federal Clean Air Act, CECONY has been allocated SO₂ emission allowances which the company may sell, trade or hold for future use. Generally, CECONY defers its proceeds from the sale of SO₂ allowances as regulatory liabilities to be applied for customer benefit. The proceeds received from the sale of SO₂ allowances are included in net cash flows from operating activities in the Companies' consolidated statements of cash flows.

Temporary Cash Investments

Temporary cash investments are short-term, highly-liquid investments that generally have maturities of three months or less at the date of purchase. They are stated at cost, which approximates market. The Companies consider temporary cash investments to be cash equivalents.

Investments

Investments consist primarily of the investments of Con Edison's competitive energy businesses, which are accounted for under the equity method (depending on the subsidiaries' percentage ownership) or accounted for as leveraged leases in accordance with the accounting rules for leases. See Note J for a discussion of investments in Lease In/Lease Out transactions. Utilities' investments are recorded at fair value and include the deferred income plan and supplemental retirement income plan trust owned life insurance assets.

Pension and Other Postretirement Benefits

The accounting rules for retirement benefits require an employer to recognize an asset or liability for the overfunded or underfunded status of its pension and other postretirement benefit plans. For a pension plan, the asset or liability is the difference between the fair value of the plan's assets and the projected benefit obligation. For any other postretirement benefit plan, the asset or liability is the difference between the fair value of the plan's assets and the accumulated postretirement benefit obligation. The accounting rules generally require employers to recognize all unrecognized prior service costs and credits and unrecognized actuarial gains and losses in accumulated other comprehensive income (OCI), net of tax. Such amounts will be adjusted as they are subsequently recognized as components of net periodic benefit cost or income pursuant to the current recognition and amortization provisions.

For the Utilities' pension and other postretirement benefit plans, regulatory accounting treatment is generally applied in accordance with the accounting rules for regulated operations. Unrecognized prior service costs or credits and unrecognized actuarial gains and losses are recorded to regulatory assets or liabilities, rather than OCI. See Notes E and F.

The net periodic benefit costs are recognized in accordance with the accounting rules for retirement benefits. Investment gains and losses are recognized in expense over a 15-year period and other actuarial gains and losses are recognized in expense over a 10-year period, subject to the deferral provisions in the rate plans.

In accordance with the Statement of Policy issued by the NYSPSC and its current electric, gas and steam rate agreements, CECONY defers for payment to or recovery from customers the difference between such expenses and the amounts for such expenses reflected in rates. Generally, O&R also defers such difference pursuant to its rate plans. See Note B – Regulatory Matters.

The Companies calculate the expected return on pension and other retirement benefit plan assets by multiplying the expected rate of return on plan assets by the market-related value (MRV) of plan assets at the beginning of the year, taking into consideration anticipated contributions and benefit payments that are to be made during the year. The accounting rules allow the MRV of plan assets to be either fair value or a calculated value that recognizes changes in fair value in a systematic and rational manner over not more than five years. The Companies use a calculated value when determining the MRV of the plan assets that adjusts for 20 percent of the difference between fair value and expected MRV of plan assets. This calculated value has the effect of stabilizing variability in assets to which the Companies apply the expected return.

Federal Income Tax

In accordance with the accounting rules for income taxes, the Companies have recorded an accumulated deferred federal income tax liability for temporary differences between the book and tax basis of assets and liabilities at current tax rates. In accordance with rate agreements, the Utilities have recovered amounts from customers for a portion of the tax liability they will pay in the future as a result of the reversal or "turn-around" of these temporary differences. As to the remaining tax liability, in accordance with the accounting rules for regulated operations, the Utilities have established regulatory assets for the net revenue requirements to be recovered from customers for the related future tax expense. See Notes B and L. In 1993, the NYSPSC issued a Policy Statement approving accounting procedures consistent with the accounting rules for income taxes and providing assurances that these future increases in taxes will be recoverable in rates. See Note L.

Accumulated deferred investment tax credits are amortized ratably over the lives of the related properties and applied as a reduction to future federal income tax expense.

The Companies' federal income tax returns reflect certain tax positions with which the Internal Revenue Service (IRS) does not or may not agree. See "Lease In/Lease Out Transactions" in Note J and "Uncertain Tax Positions" in Note L.

Con Edison and its subsidiaries file a consolidated federal income tax return. The consolidated income tax liability is allocated to each member of the consolidated group using the separate return method. Each member pays or receives an amount based on its own taxable income or loss in accordance with tax sharing agreements between the members of the consolidated group.

State Income Tax

Con Edison and its subsidiaries file a combined New York State Corporation Business Franchise Tax Return. Similar to a federal consolidated income tax return, the income of all entities in the combined group is subject to New York State taxation, after adjustments for differences between federal and New York law and apportionment of income among the states in which the company does business. Each member of the group pays or receives an amount based on its own New York State taxable income or loss.

Research and Development Costs

Generally research and development costs are charged to operating expenses as incurred. Research and development costs were as follows:


	For the Years Ended December 31,
*(millions of dollars)*	2011		2010		2009
Con Edison	$	23	$	23	$	27
CECONY	$	21	$	21	$	25

Reclassification

Certain prior year amounts have been reclassified to conform with the current year presentation.

Earnings Per Common Share

In accordance with the accounting rules for earnings per share, Con Edison presents basic and diluted earnings per share on the face of its consolidated income statement. Basic earnings per share (EPS) are calculated by dividing earnings available to common shareholders ("Net income for common stock" on Con Edison's consolidated income statement) by the weighted average number of Con Edison common shares outstanding during the period. In the calculation of diluted EPS, weighted average shares outstanding are increased for additional shares that would be outstanding if potentially dilutive securities were converted to common stock.

Potentially dilutive securities for Con Edison consist of restricted stock units, deferred stock units and stock options for which the average market price of the common shares for the period was greater than the exercise price. See Note M.

Basic and diluted EPS for Con Edison are calculated as follows:


	For the Years Ended December 31,
(millions of dollars, except per share amounts/shares in millions)	2011		2010		2009
Net income for common stock	$	1,051	$	992	$	868
Weighted average common shares outstanding – Basic		292.6		284.3		275.2
Add: Incremental shares attributable to effect of potentially dilutive securities		1.8		1.6		1.1
Adjusted weighted average common shares outstanding – Diluted		294.4		285.9		276.3
Net Income for common stock per common share – basic	$	3.59	$	3.49	$	3.16
Net Income for common stock per common share – diluted	$	3.57	$	3.47	$	3.14

The computation of diluted earnings per share excludes immaterial amounts of incremental Con Edison common shares for the years ended December 31, 2010 and 2009 because the exercise prices on the options exceeded the average closing market price during these periods. No such exclusion was required for the computation of diluted earnings per share for the year ended December 31, 2011.

Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

CECONY [Member]

Summary Of Significant Accounting Policies

Note A — Summary of Significant Accounting Policies

Principles of Consolidation

Accounting Policies

Other significant accounting policies of the Companies are referenced below in this Note A and in the notes that follow.

Plant and Depreciation

Utility Plant

At December 31, 2011 and 2010, the capitalized cost of the Companies' utility plant, net of accumulated depreciation, was as follows:


	Con Edison				CECONY
*(millions of dollars)*	2011		2010		2011		2010
Electric
Generation	$	400	$	396	$	400	$	396
Transmission		2,654		2,284		2,476		2,150
Distribution		13,805		13,191		13,125		12,549
Gas*		3,858		3,535		3,455		3,153
Steam		1,651		1,617		1,651		1,617
General		1,282		1,241		1,162		1,125
Held for future use		74		72		62		60
Construction work in progress		1,241		1,458		1,165		1,344
Net Utility Plant	$	24,965	$	23,794	$	23,496	$	22,394

*	Primarily distribution.

Non-Utility Plant

Goodwill

Impairments

Revenues

Recoverable Energy Costs

New York Independent System Operator (NYISO)

Sulfur Dioxide (SO₂) Allowances

Temporary Cash Investments

Investments

Pension and Other Postretirement Benefits

Federal Income Tax

Accumulated deferred investment tax credits are amortized ratably over the lives of the related properties and applied as a reduction to future federal income tax expense.

State Income Tax

Research and Development Costs

Generally research and development costs are charged to operating expenses as incurred. Research and development costs were as follows:


	For the Years Ended December 31,
*(millions of dollars)*	2011		2010		2009
Con Edison	$	23	$	23	$	27
CECONY	$	21	$	21	$	25

Reclassification

Certain prior year amounts have been reclassified to conform with the current year presentation.

Earnings Per Common Share

Basic and diluted EPS for Con Edison are calculated as follows:


	For the Years Ended December 31,
(millions of dollars, except per share amounts/shares in millions)	2011		2010		2009
Net income for common stock	$	1,051	$	992	$	868
Weighted average common shares outstanding – Basic		292.6		284.3		275.2
Add: Incremental shares attributable to effect of potentially dilutive securities		1.8		1.6		1.1
Adjusted weighted average common shares outstanding – Diluted		294.4		285.9		276.3
Net Income for common stock per common share – basic	$	3.59	$	3.49	$	3.16
Net Income for common stock per common share – diluted	$	3.57	$	3.47	$	3.14

Estimates

- Definition

The entire disclosure for all significant accounting policies of the reporting entity.

+ References+ Details

Regulatory Matters

12 Months Ended

Dec. 31, 2011

Regulatory Matters

Note B — Regulatory Matters

Rate Agreements

CECONY — Electric

The NYSPSC's March 2008 and April 2009 orders and the November 2009 Joint Proposal covering CECONY's electric rates, discussed below, provided for the collection of a portion of the company's electric revenues ($237 million in the rate year ended March 2009, $254 million for the rate year ended March 2010 and, rate year ended March 2011, $249 million on an annual basis) subject to potential refund to customers following NYSPSC review and completion of an investigation by the NYSPSC staff of the company's capital expenditures during the April 2005 through March 2008 period for transmission and distribution utility plant (the 2005-2008 Capital Expenditure Review). In December 2009, the company established a $24 million regulatory liability for refund to customers with respect to this matter and recognized a $14 million (after-tax) charge in its 2009 consolidated financial statements. In March 2010, the NYSPSC issued an order approving a February 2010 Joint Proposal by the company and the NYSPSC staff relating to this matter pursuant to which the company, among other things, provided a $36 million credit to customer bills in 2010.

In March 2008, the NYSPSC adopted an order, issued and effective March 25, 2008, granting CECONY an electric rate increase, effective April 1, 2008, of $425 million.

The NYSPSC ruling reflected the following major items:

•

a return on common equity of 9.1 percent;

•

an increase to $150 million from $60 million in the level of annual revenues that, for purposes of setting rates, it is assumed the company will receive and retain from the sale of transmission rights on the company's transmission system, with the difference between such actual revenues for the rate year and $150 million to be recoverable from or refundable to customers, as the case may be;

•

collection of $237 million of the $425 million rate increase is subject to potential refund to customers following the 2005-2008 Capital Expenditure Review (see discussion above in this Note B of the February 2010 Joint Proposal);

•

continuation of the rate provisions under which pension and other postretirement benefit expenses and environmental remediation expenses are reconciled to amounts reflected in rates;

•

change to the reconciliation provisions for transmission and distribution expenditures and costs to relocate facilities to accommodate government projects, which under the NYSPSC ruling will be reconciled only to the extent actual expenditures are less than amounts reflected in rates;

•

discontinuation of the provisions under which property taxes were reconciled to amounts reflected in rates;

•

potential operations penalties of up to $152 million annually if certain customer service and system reliability performance targets are not met;

•

implementation of a revenue decoupling mechanism under which the company's actual energy delivery revenues would be compared, on a periodic basis, with the authorized delivery revenues and the difference accrued, with interest, for refund to, or recovery from, customers, as applicable; and

•

continuation of the rate provisions pursuant to which the company recovers its purchased power and fuel costs from customers.

In April 2009, the NYSPSC adopted an order granting CECONY an electric rate increase, effective April 6, 2009, of $523 million. The NYSPSC ruling reflects the following major items:

•

A return on common equity of 10.0 percent, based on certain assumptions, including a common equity ratio of 48 percent and achievement by the company of unspecified austerity measures required by the NYSPSC that would result in avoided revenue requirements of $60 million;

•

continuation of the revenue decoupling mechanism (in 2009, the company increased revenues by $122 million pursuant to this mechanism and the corresponding provision of the March 2008 rate order);

•

a decrease to $120 million from $150 million in the level of annual revenues that, for purposes of setting rates, it is assumed the company will receive and retain from the sale of transmission rights on the company's transmission system, with the difference between such actual revenues for the rate year and $120 million to be recoverable from or refundable to customers, as the case may be (in 2009, the company accrued $7 million of revenues under this provision and the corresponding provision of the March 2008 rate order);

•

reconciliation of the actual amount of pension and other postretirement benefit costs, environmental remediation expenses, property taxes and the cost of long-term debt to amounts reflected in rates (in 2009, the company deferred recognition of $36.4 million of expenses under these provisions and the corresponding provisions of the March 2008 rate order);

•

if actual generation, transmission, distribution and shared service plant expenditures (other than removal costs) and capital costs incurred to relocate facilities to accommodate government projects are less than amounts reflected in rates for the respective category of expenditures, the company will accrue a regulatory liability and reduce its revenues by the revenue requirement impact of the difference (i.e., return on investment, depreciation and income taxes) (in 2009, the company did not reduce revenues under these provisions and the corresponding provisions of the March 2008 rate order);

•

collection of a surcharge (in addition to the electric rate increase) from customers in connection with an increase (estimated at $198 million), effective April 2009, in a New York State assessment;

•

continuation of provisions for potential operations penalties of up to $152 million annually if certain customer service and system reliability performance targets are not met (in 2009, the company did not reduce revenues under these provisions and the corresponding provisions of the March 2008 rate order);

•

continuation of the collection of a portion (increased, to reflect higher capital costs, from $237 million collected in the rate year ended March 2009 to $254 million for the rate year ending March 2010) of the April 2008 rate increase subject to potential refund to customers following the 2005-2008 Capital Expenditure Review (see discussion above in this Note B of the February 2010 Joint Proposal). The portion collected is also subject to refund in the event the NYSPSC determines that some disallowance of costs the company has recovered is warranted to address potential impacts of alleged unlawful conduct by arrested employees and contractors (see "Other Regulatory Matters" below in this Note B and "Investigations of Vendor Payments" in Note H); and

•

continuation of the rate provisions pursuant to which the company recovers its purchased power and fuel costs from customers.

In May 2009, the company filed with the NYSPSC the company's plan with respect to austerity measures that would reduce the company's revenue requirements during the rate year ending March 31, 2010 by $60 million. The company's austerity plans include reductions in labor costs, including compensation and other employee benefits, deferral of expenditures for capital projects and operating and maintenance programs and other initiatives. These reductions collectively represent $47 million of the $60 million reduction sought by the NYSPSC. In May 2009, the company filed with the NYSPSC a request for rehearing of the NYSPSC's April 2009 order with respect to its austerity provisions and certain other matters. Pursuant to the February 2010 Joint Proposal (discussed above in Note B), the company withdrew this request.

In November 2009, CECONY, the NYSPSC staff and other parties entered into a Joint Proposal with respect to the company's May 2009 request to the NYSPSC for an increase in the rates the company can charge its customers for electric delivery service. The Joint Proposal, which was approved in March 2010, covers the three-year period April 2010 through March 2013 and provides for electric base rate increases of $420 million, effective April 2010 and 2011, and $287 million, effective April 2012, with an additional $133 million to be collected through a surcharge in the rate year ending March 2013. In January 2012, the NYSPSC issued a notice soliciting comments relating to the possible use of certain of the company's regulatory liabilities (that would otherwise be refundable to or applied for the benefit of customers after the rate year ended March 2013) to offset all or a portion of such surcharge.

The Joint Proposal reflects the following major items:

•

A weighted average cost of capital of 7.76 percent, reflecting:

•

return on common equity of 10.15 percent, assuming achievement by the company of unspecified austerity measures that would result in reductions in operations and maintenance expenses of $27 million, $20 million and $13 million in the rate years ending March 2011, 2012 and 2013, respectively;

•

cost of long-term debt of 5.65 percent;

•

common equity ratio of 48 percent; and

•

average rate base of $14,887 million, $15,987 million and $16,826 million for the rate years ending March 2011, 2012 and 2013, respectively.

•

Deferral as a regulatory liability of the revenue requirement impact (i.e., return on investment, depreciation and income taxes) of the amount, if any, by which (A) actual average net plant balances allocable to the company's electric business for (i) transmission and distribution, excluding municipal infrastructure support (T&D), (ii) generation, shared services and, subject to certain adjustments, municipal infrastructure support (Other) and (iii) a finance and supply chain enterprise resource project (ERP) are less than (B) amounts reflected in rates for the respective category for each rate year. The amounts reflected in rates are:


	Rate Year Ending March 31,
*(millions of dollars)*	2011		2012		2013
T&D	$	13,818	$	14,742	$	15,414
Other		1,487		1,565		1,650
ERP		—		25		115

•

Any deferral for T&D and Other for the rate year ending March 2011 will be based on average net plant balances for the year and for the rate years ending March 2012 and 2013 will be based on average net plant balances over the term of the Joint Proposal. The company has deferred $8 million as a regulatory liability pursuant to this provision in 2011.

•

Any deferral for ERP would be based on average net plant balances for ERP over the term of the Joint Proposal.

•

During the term of the Joint Proposal, the company will not accrue any additional revenue for carrying charges on any capital expenditures allocable to its electric business in excess of specified limits (which limits exclude certain expenditures, including expenditures for projects for which the company has been selected to receive grants under the American Recovery and Reinvestment Act of 2009):

•

T&D capital expenditures – $1,200 million for the rate year ending March 2011 and an aggregate $2,300 million for the period from April 2011 through March 2013 (such capital expenditures for the rate year ended March 2011 were less than $1,200 million);

•

Other capital expenditures – $220 million for the rate year ending March 2011 and an aggregate $402 million for the period from April 2011 through March 2013 (such capital expenditures for the rate year ended March 2011 were less than $220 million); and

•

ERP capital expenditures – $125 million (such capital expenditures for the rate year ended March 2011 were less than $125 million).

•

The company is not precluded from seeking to recover in rates effective after March 2013 the annual revenue requirement for T&D and Other capital expenditures made during the term of the Joint Proposal in excess of the applicable capital expenditure limit; provided that:

•

the company can justify the need for and reasonableness of, and the company's inability to reasonably avoid, such excess capital expenditures; and

•

the return on investment for any such excess T&D or Other capital expenditures made during the rate year ending March 2011 will be calculated based on the company's overall cost of debt. There were no such excess expenditures for the rate year ended March 31, 2011.

•

Sharing with electric customers of any actual earnings, excluding the effects of any penalties and certain other items, above specified percentage returns on equity (based on actual average common equity ratio, subject to a 50 percent maximum) as follows:

•

for the rate year ending March 2011, the company will allocate to customers the revenue requirement equivalent of 50 percent of earnings above 11.15 percent up to and including 12.149 percent, 75 percent of earnings equal to or in excess of 12.15 percent up to and including 13.149 percent and 90 percent of earnings equal to or in excess of 13.15 percent (earnings were not above 11.15 percent for the rate year ended March 2011);

•

for the rate years ending March 2012 and 2013, the company will allocate to customers the revenue requirement equivalent of 60 percent of the earnings, calculated on a cumulative basis for such years, in excess of 10.65 percent up to and including 12.149 percent, 75 percent of such cumulative earnings equal to or in excess of 12.15 percent up to and including 13.149 percent and 90 percent of such cumulative earnings equal to or in excess of 13.15 percent;

•

the customers' share of any such earnings and 50 percent of the company's share would be applied to reduce regulatory assets for pensions and other postretirement benefits and other costs; and

•

in the event the company does not file for a rate increase to take effect in April 2013, the earnings sharing levels for the rate year ending March 2013 will continue in effect, calculated on an annual basis, until base rates are reset by the NYSPSC.

•

Deferral as a regulatory asset or liability, as the case may be, of differences between the actual level of certain expenses, including, among others, expenses for pension and other postretirement benefits, environmental remediation, relocation of facilities to accommodate government projects, property taxes and (for the rate years ending March 2012 and 2013) long-term debt, and amounts for those expenses reflected in rates (with deferral for the difference in property taxes limited to 80 percent of the difference, subject to annual maximum for the remaining 20 percent of the difference of not more than a 10 basis point impact on return on common equity and deferral of facility relocation expenses in excess amounts reflected in rates subject to certain limitations). In 2010 and 2011, the company deferred $264 million as a net regulatory asset, and $39 million as a net regulatory liability, respectively, under these provisions and the corresponding provisions of the April 2009 rate order.

•

Continuation of the provisions in the April 2009 order relating to revenues from the sale of transmission rights on the company's transmission system. In 2010 and 2011, the company accrued $9 million and $26 million of revenues, respectively, under this provision and the corresponding provision of the April 2009 rate order.

•

Continuation of the revenue decoupling mechanism under which the company's actual electric delivery revenues would be compared, on a periodic basis, with the delivery revenues reflected in rates, and the difference accrued as a regulatory liability (for refund to electric customers) or a regulatory asset (for recovery from electric customers), as the case may be. In 2010 and 2011, the company deferred for customer benefit $124 million and $90 million of revenues, respectively, under this provision and the corresponding provision of the April 2009 rate order.

•

Continuation of the rate provisions pursuant to which the company recovers its purchased power and fuel costs from electric customers.

•

Continuation of provisions for potential operations penalties of up to $152 million annually if certain electric customer service and system reliability performance targets are not met. In 2010 and 2009, the company did not recognize any expenses under these provisions and the corresponding provisions of the April 2009 order. In 2011, the company recognized a $5 million system reliability penalty.

•

Collection from electric customers of $249 million on an annual basis subject to potential refund following the 2005-2008 Capital Expenditure Review (see discussion above in this Note B of the February 2010 Joint Proposal). The amount to be collected would also be subject to refund in the event the NYSPSC determined that some disallowance of costs the company has recovered is warranted to address potential impacts of alleged unlawful conduct by arrested employees and contractors (see "Other Regulatory Matters" below in this Note B and "Investigations of Vendor Payments" in Note H).

O&R — Electric

In July 2008, the NYSPSC approved a Joint Proposal among O&R, the NYSPSC staff and other parties for the rates O&R can charge its New York customers for electric service from July 2008 through June 2011. The rate plan approved by the NYSPSC provides for electric rate increases of $15.6 million, $15.6 million and $5.7 million effective July 1, 2008, 2009 and 2010, respectively, and the collection of an additional $9.9 million during the 12-month period beginning July 1, 2010.

The Joint Proposal reflected the following major items:

•

an annual return on common equity of 9.4 percent;

•

most of any actual earnings above a 10.2 percent return on equity (based on actual average common equity ratio, subject to a 50 percent maximum) are to be applied to reduce regulatory assets for pension and other postretirement benefit expenses (the company did not reduce regulatory assets under this provision in 2011, 2010, or 2009);

•

deferral as a regulatory asset or regulatory liability, as the case may be, of the difference between actual pension and other postretirement benefit expenses, environmental remediation expenses, property taxes, tax-exempt debt costs and certain other expenses and amounts for those expenses reflected in rates (the company deferred recognition of $0.3 million of expenses, $0.7 million of revenue and $3 million of expenses under this provision in 2011, 2010, and 2009, respectively);

•

deferral as a regulatory liability of the revenue requirement impact (i.e., return on investment, depreciation and income taxes) of the amount, if any, by which actual transmission and distribution related capital expenditures are less than amounts reflected in rates (the company deferred $7 million, $12 million, and $8 million of revenues under this provision in 2011, 2010, and 2009, respectively);

•

deferral as a regulatory asset of increases, if any, in certain expenses above a 4 percent annual inflation rate, but only if the actual annual return on common equity is less than 9.4 percent (the company did not defer any expenses under this provision in 2011, 2010 or 2009);

•

potential negative earnings adjustments of up to $3 million annually if certain customer service and system reliability performance targets are not met (the company met the performance targets in 2011 and 2009; the company reduced revenues by $1 million under this provision in 2010);

•

implementation of a revenue decoupling mechanism under which actual energy delivery revenues would be compared, on a periodic basis, with the authorized delivery revenues with the difference accrued, with interest, for refund to, or recovery from, customers, as applicable (the company accrued $3.3 million, $5.1 million, and $12.5 million of revenues pursuant to this provision in 2011, 2010, and 2009, respectively);

•

continuation of the rate provisions pursuant to which the company recovers its purchased power costs from customers; and

•

withdrawal of the litigation O&R commenced seeking to annul the NYSPSC's March and October 2007 orders relating to O&R's electric rates.

In June 2011, the NYSPSC adopted an order granting O&R an electric rate increase, effective July 1, 2011, of $26.6 million. The NYSPSC ruling reflects the following major items:

•

a weighted average cost of capital of 7.22 percent, reflecting:

•

a return on common equity of 9.2 percent, assuming achievement by the company of $825,000 of austerity measures;

•

cost of long-term debt of 5.50 percent; and

•

common equity ratio of 48 percent.

•

continuation of a revenue decoupling mechanism;

•

a provision for reconciliation of certain differences in actual average net utility plant to the amount reflected in rates ($718 million) and continuation of rate provisions under which pension and other postretirement benefit expenses, environmental remediation expenses, tax-exempt debt costs and certain other expenses are reconciled to amounts for those expenses reflected in rates;

•

continuation of the rate provisions pursuant to which the company recovers its purchased power costs from customers;

•

discontinuation of the provisions under which property taxes were reconciled to amounts reflected in rates;

•

discontinuation of the inclusion in rates of funding for the company's annual incentive plan for non-officer management employees;

•

continuation of provisions for potential operations penalties of up to $3 million annually if certain customer service and system reliability performance targets are not met (in 2011, O&R did not recognize any operations penalties under these provisions or the corresponding provisions of the Joint Proposal discussed above); and

•

O&R is directed to produce a report detailing its implementation plans for the recommendations made in connection with the NYSPSC's management audit of CECONY, with a forecast of costs to achieve and expected savings. (See "Rate Agreements – Other Regulatory Matters" below in this Note B).

In July 2011, O&R filed a request with the NYSPSC for an increase in the rates it charges for electric service rendered in New York, effective July 1, 2012, of $17.7 million. The filing reflects a return on common equity of 10.75 percent and a common equity ratio of 49.4 percent. Among other things, the filing proposes continuation of the current provisions with respect to recovery from customers of the cost of purchased power and with respect to the deferral of differences between actual expenses allocable to the electric business for pensions and other postretirement benefits, environmental, and research and developmental costs to the amounts for such costs reflected in electric rates. The filing also includes an alternative proposal for a three-year electric rate plan with annual rate increases of $17.6 million effective July 2012, 2013 and 2014. The multi-year filing reflects a return on common equity of 11.25 percent. In December 2011, to reflect certain increased costs, the company updated the requested July 1, 2012 increase to $31.4 million and the alternative three-year rate plan's annual increases to $22.2 million.

In March 2007, the New Jersey Board of Public Utilities (NJBPU) approved a three-year electric base rate plan for Rockland Electric Company (RECO), O&R's New Jersey regulated utility subsidiary that went into effect on April 1, 2007. The plan provides for a $6.4 million rate increase during the first year, with no further increase during the final two years. The plan reflects a return on common equity of 9.75 percent and a common equity ratio of 46.5 percent of capitalization.

In May 2010, RECO, the Division of Rate Counsel, Staff of the NJBPU and certain other parties entered into a stipulation of settlement with respect to the company's August 2009 request to increase the rates that it can charge its customers for electric delivery service. The stipulation, which was approved by the Board of the NJBPU, provides for an electric rate increase, effective May 17, 2010, of $9.8 million. The stipulation reflects a return on common equity of 10.3 percent and a common equity ratio of approximately 50 percent. The stipulation continues current provisions with respect to recovery from customers of the cost of purchased power and does not provide for reconciliation of actual expenses to amounts reflected in electric rates for pension and other postretirement benefit costs.

CECONY — Gas

In September 2007, the NYSPSC approved the Joint Proposal that CECONY had entered into in June 2007 with the staff of the NYSPSC and other parties with respect to the rates the company can charge its customers for gas service. The Joint Proposal had provided for rate increases of $84.6 million, $32.7 million and $42.7 million, effective October 1, 2007, 2008 and 2009, respectively, along with annual funding for new energy efficiency programs of $14 million. The NYSPSC modified the Joint Proposal to provide for levelized annual rate increases of $67.5 million in each year of the three year rate plan.

The Joint Proposal continues the previous gas rate plan provisions with respect to recovery from customers of the cost of purchased gas and environmental remediation expenses and corresponding provisions pursuant to which the effects of weather on gas income are moderated and for the reconciliation of actual expenses allocable to the gas business to the amounts for such costs reflected in gas rates for pension and other postretirement benefit costs, property taxes and interference costs. Additional provisions of the gas rate plan include: a revenue decoupling mechanism (pursuant to which the company accrued $24 million, $25 million, and $17 million of revenues in 2010, 2009, and 2008, respectively) and equal sharing with customers of earnings above a 10.7 percent return on common equity (earnings for the rate years ended September 30, 2010, 2009 and 2008 were reduced $6 million, $0 and $9 million, respectively, for earnings above the 10.7 percent threshold).

In May 2010, CECONY, the staff of the NYSPSC and other parties entered into a Joint Proposal, with respect to the company's rates for gas delivery service. The Joint Proposal, which was approved by the NYSPSC in September 2010, covers the three-year period October 2010 through September 2013 and provides for gas base rate increases of $47.1 million, $47.9 million and $46.7 million, effective October 2010, 2011 and 2012, respectively. The Joint Proposal reflects the following major items:

•

A weighted average cost of capital of 7.46 percent, reflecting:

•

return on common equity of 9.6 percent, assuming achievement by the company of cost avoidance for productivity and "austerity". The unspecified austerity measures assume reductions in costs of $6 million, $4 million and $2 million in the rate years ending September 2011, 2012 and 2013, respectively;

•

cost of long-term debt of 5.57 percent;

•

common equity ratio of 48 percent; and

•

average rate base of $3,027 million, $3,245 million and $3,434 million for the rate years ending September 2011, 2012 and 2013, respectively.

•

Deferral as a regulatory liability of the revenue requirement impact (i.e., return on investment, depreciation and income taxes) of the amount, if any, by which actual average net plant balances allocable to the company's gas business are less than the amounts reflected in rates: $2,934 million, $3,148 million and $3,346 million for the rate years ending September 2011, 2012 and 2013, respectively. No such deferral was required for the rate year ended September 2011.

•

Sharing with gas customers of any actual earnings, excluding the effects of any penalties and certain other items, above specified percentage returns on equity (based on actual average common equity ratio, subject to a 50 percent maximum), on a cumulative basis over the term of the Joint Proposal, calculated as follows:

•

for the rate year ending September 2011, the company will allocate to customers the revenue requirement equivalent of 60 percent of earnings above 10.35 percent up to and including 11.59 percent, 75 percent of earnings equal to or in excess of 11.6 percent up to and including 12.59 percent and 90 percent of earnings equal to or in excess of 12.6 percent (earnings were not above 10.35 percent for the rate year ended September 2011);

•

for the rate years ending September 2012 and 2013, the company will allocate to customers the revenue requirement equivalent of 60 percent of the earnings in excess of 10.1 percent up to and including 11.59 percent, 75 percent of such earnings equal to or in excess of 11.6 percent up to and including 12.59 percent and 90 percent of such earnings equal to or in excess of 12.6 percent;

•

the customers' share of any such earnings and 50 percent of the company's share, appropriately adjusted for taxes, would be applied to reduce regulatory assets for pensions and other postretirement benefits and other costs; and

•

in the event the company does not file for a rate increase to take effect in October 2013, the earnings sharing levels for the rate year ending September 2013 will continue in effect, implemented on an annual basis, until base rates are reset by the NYSPSC.

•

Deferral as a regulatory asset or liability, as the case may be, of differences between the actual level of certain expenses, including, among others, expenses for pension and other postretirement benefits, environmental remediation, property taxes and long-term debt, and amounts for those expenses reflected in rates (with deferral for the difference in property taxes limited to 80 percent of the difference, subject to an annual maximum for the remaining 20 percent of the difference of not more than the equivalent in revenue requirement of a 10 basis point impact on return on common equity). In 2010 and 2011, the company deferred $67 million of net regulatory assets, and $0.3 million of net regulatory liabilities, respectively, under these provisions and the corresponding provisions of the September 2007 rate order.

•

Continuation of provisions pursuant to which the company will retain net revenues from non-firm customer transactions. In each year of the rate plan, the company will retain up to $58 million of any such revenues and 25 percent of any such revenues above $58 million. If such revenues are below $58 million in a rate year, the company will accrue a regulatory asset equal to (A) the amount by which such revenues are less than $33 million plus (B) 80 percent of the difference between $58 million and the level of such revenues at or above $33 million. The company retained $40 million and $70 million of such net revenues in 2010 and 2011, respectively, under these provisions and the corresponding provisions of the September 2007 rate order.

•

Continuation of the provisions pursuant to which the effects of weather on gas delivery revenues during each billing cycle are reflected in customer bills for that billing cycle, and a revenue decoupling mechanism under which the company's actual gas delivery revenues, inclusive of any such weather adjustment, would be compared, on a periodic basis, with the delivery revenues reflected in rates, with the difference accrued as a regulatory liability (for refund to gas customers) or a regulatory asset (for recovery from gas customers), as the case may be. In 2010 and 2011, the company deferred $14 million of regulatory assets and $20 million of regulatory liabilities, respectively, under this provision and the corresponding provisions of the September 2007 rate order.

•

Continuation of the rate provisions pursuant to which the company recovers its costs of purchased gas from gas customers.

•

Continuation of provisions for potential penalties (up to $12.6 million annually) if certain gas customer service and system performance targets are not met. In 2010 and 2011, the company did not recognize any expenses under these provisions or the corresponding provisions of the September 2007 rate order.

•

Continued collection from gas customers of $32 million on an annual basis subject to potential refund (see "Other Regulatory Matters" below and "Investigations of Vendor Payments" in Note H).

O&R — Gas

In October 2006, the NYSPSC approved the June 2006 settlement agreement among O&R, the staff of the NYSPSC and other parties. The settlement agreement established a rate plan that covered the three-year period November 1, 2006 through October 31, 2009. The rate plan provided for rate increases in base rates of $12 million in the first year, $0.7 million in the second year and $1.1 million in the third year. To phase-in the effect of the increase for customers, the rate plan provided for O&R to accrue revenues for, but defer billing to customers of, $5.5 million of the first rate year rate increase by establishing a regulatory asset which, together with interest, was billed to customers in the second and third years. As a result, O&R's billings to customers increased $6.5 million in each of the first two years and $6.3 million in the third. The first year rate increase included $2.3 million relating to a change in the way customers are provided the benefit of non-firm revenue from sales of pipeline transportation capacity. Under the prior rate plan, base rates were reduced to reflect the assumption that the company would realize these revenues. Under the 2006 rate plan, such revenues were used to offset the cost of gas to be recovered from customers. The rate plan continued the provisions pursuant to which the company recovers its cost of purchasing gas and the provisions pursuant to which the effects of weather on gas income are moderated.

The rate plan provided that if the actual amount of pension or other postretirement benefit costs, environmental remediation costs, property taxes and certain other costs vary from the respective amount for each such cost reflected in gas rates (cost reconciliations), the company would defer recognition of the variation in income and, as the case may be, establish a regulatory asset or liability for recovery from, or refund to, customers of the variation (86 percent of the variation, in the case of property tax differences due to assessment changes).

Earnings attributable to its gas business excluding any revenue reductions (O&R Adjusted Earnings) in excess of an 11 percent annual return on common equity (based upon the actual average common equity ratio, subject to a maximum 50 percent of capitalization) were to be allocated as follows: above an 11 percent return were to be used to offset up to one-half of any regulatory asset to be recorded in that year resulting from the cost reconciliations (discussed in the preceding paragraph). One-half of any remaining O&R Adjusted Earnings between 11 and 12 percent return were to be retained by the company, with the balance deferred for the benefit of customers. Thirty-five percent of any remaining O&R Adjusted Earnings between a 12 and 14 percent return were to be retained by the company, with the balance deferred for the benefit of customers. Any remaining O&R Adjusted Earnings above a 14 percent return were to be deferred for the benefit of customers. For purposes of these earnings sharing provisions, if in any rate year O&R Adjusted Earnings was less than 11 percent, the shortfall was deducted from O&R Adjusted Earnings for the other rate years. The earnings sharing thresholds were to each be reduced by 20 basis points if certain objectives relating to the company's retail choice program are not met. O&R adjusted earnings were not in excess of the 11 percent target return on equity for the rate years ended October 31, 2009, and 2008.

The rate plan also included up to $1 million of potential earnings adjustments in the first year of the agreement, increasing up to $1.2 million, if the company did not comply with certain requirements regarding gas main protection and customer service. O&R recorded a regulatory liability of $0.4 million for not complying with certain requirements regarding safety and customer service for the rate year ended October 31, 2008. The company met these requirements for the rate year ended October 31, 2009.

In October 2009, the NYSPSC adopted a June 2009 Joint Proposal among O&R, NYSPSC staff and other parties. As approved, the Joint Proposal establishes a gas rate plan that covers the three-year period November 1, 2009 through October 31, 2012 and provides for increases in base rates of $9 million in each of the first two years and $4.6 million in the third year, with an additional $4.3 million to be collected through a surcharge in the third rate year. The rate plan reflects the following major items:

•

an annual return on common equity of 10.4 percent;

•

most of any actual earnings above an 11.4 percent annual return on common equity (based upon the actual average common equity ratio, subject to a maximum 50 percent of capitalization) are to be applied to reduce regulatory assets (in 2010 and 2011, the company did not defer any revenues under this provision);

•

deferral as a regulatory asset or liability, as the case may be, of differences between the actual level of certain expenses, including expenses for pension and other postretirement benefits, environmental remediation, property taxes and taxable and tax-exempt long-term debt, and amounts for those expenses reflected in rates (in 2010 and 2011, the company deferred $3.1 million and $2.9 million, respectively, of expenses under this provision);

•

deferral as a regulatory liability of the revenue requirement impact (i.e., return on investment, depreciation and income taxes) of the amount, if any, by which average gas net plant balances are less than balances reflected in rates (in 2010 and 2011, the company deferred $1.5 million of revenues and $1 million of expenses, respectively, under this provision);

•

deferral as a regulatory asset of increases, if any over the course of the rate plan, in certain expenses above a 4 percent annual inflation rate, but only if the actual annual return on common equity is less than 10.4 percent (in 2010 and 2011, the company did not defer any revenues under this provision);

•

implementation of a revenue decoupling mechanism (in 2010 and 2011, the company accrued $0.8 million and $2.8 million, respectively, of revenues under this provision);

•

continuation of the provisions pursuant to which the company recovers its cost of purchasing gas and the provisions pursuant to which the effects of weather on gas income are moderated; and

•

potential negative earnings adjustments of up to $1.4 million annually if certain operations and customer service requirements are not met (in 2010 and 2011, the company did not have any potential negative earnings adjustments under this provision).

CECONY — Steam

In September 2008, the NYSPSC approved the June 2008 Joint Proposal among the company, the NYSPSC staff and other parties with respect to the rates the company can charge its customers for steam service. The Joint Proposal covers the period from October 1, 2008 through September 30, 2010. The Joint Proposal provides for steam rate increases of $43.7 million effective October 1, 2008 and 2009.

The Joint Proposal reflects the following major items:

•

an annual return on common equity of 9.3 percent;

•

any actual earnings above a 10.1 percent return on equity (based on actual average common equity ratio, subject to a 50 percent maximum) are to be shared as follows: half will be deferred for the benefit of customers and the other half is to be retained by the company (with half of the company's share subject to offset to reduce any regulatory assets for under-collections of property taxes) (earnings for the rate years ended September 30, 2009 and 2010 did not exceed a 10.1 percent return on equity);

•

deferral as a regulatory asset or regulatory liability, as the case may be, of the difference between (i) actual costs for pension and other postretirement benefits, environmental remediation, property taxes, certain tax-exempt debt, municipal infrastructure support and certain other costs and (ii) amounts for those costs reflected in rates (90 percent of the difference in the case of property taxes and interference costs) (the company decreased expenses by $14.9 million and $14.4 million and increased expenses by $3.1 million under these provisions in 2010, 2009 and 2008, respectively);

•

deferral as a regulatory liability of the revenue requirement impact (i.e., return on investment, depreciation and income taxes) of the amount, if any, by which the actual capital expenditures related to steam production plant are less than amounts reflected in rates (there was no regulatory liability recorded for the rate year ended September 30, 2009 and $4 million regulatory liability recorded for the rate year ended September 30, 2010);

•

potential negative earnings adjustments (revenue reductions) of approximately $0.95 million to $1 million annually if certain business development, customer service and safety performance targets are not met (the company did not record any such adjustments for the rate years ended September 30, 2010, 2009 and 2008);

•

amortization of certain regulatory assets and liabilities, the net effect of which will be a non-cash increase in steam revenues of $20.3 million over the two-year period covered by the Joint Proposal; and

•

continuation of the rate provisions pursuant to which the company recovers its fuel and purchased steam costs from customers.

In May 2010, CECONY, the NYSPSC staff and other parties entered into a Joint Proposal, with respect to the company's rates for steam service. The Joint Proposal, which was approved by the NYSPSC in September 2010, covers the three-year period October 2010 through September 2013 and provides for rate increases of $49.5 million, effective October 2010 and 2011, and $17.8 million, effective October 2012, with an additional $31.7 million to be collected through a surcharge in the rate year ending September 2013. The Joint Proposal reflects the following major items:

•

The same weighted average cost of capital, return on common equity (assuming, for the steam business, achievement of unspecified reductions in costs of $4.5 million, $3 million and $1.5 million in the rate years ending September 2011, 2012 and 2013, respectively), cost of long-term debt and common equity ratio provided for in the May 2010 Joint Proposal with respect to CECONY's gas business (discussed above) and average steam rate base of $1,589 million, $1,603 million and $1,613 million for the rate years ending September 2011, 2012 and 2013, respectively.

•

Deferral as a regulatory liability of the revenue requirement impact of the amount, if any, by which actual average net plant balances allocable to the company's steam business are less than the amounts reflected in rates for the respective category for each rate year. The company deferred $0.8 million for the rate year ended September 2011. The amounts reflected in rates are:


	Rate Year Ending September 30,
*(millions of dollars)*	2011		2012		2013
Steam production	$	415	$	426	$	433
Steam distribution		521		534		543

•

Earnings sharing, expense deferral and potential refund ($6 million annually for steam) provisions as discussed above with respect to CECONY's gas business. In 2011, the company did not recognize any such earnings sharing, expense deferral or potential refund.

•

Continuation of the rate provisions pursuant to which the company recovers its cost of fuel and purchased steam from its steam customers.

•

Continuation of provisions for potential penalties (up to approximately $1 million annually) if certain steam customer service and system performance targets are not met. In 2011, the company did not recognize any expense under these provisions.

The NYSPSC order requires CECONY, in its next steam rate filing, to propose a phase-in over a period of not more than seven years of an increase in the allocation to steam customers of the fuel costs for the company's East River Repowering Project (ERRP, which cogenerates electricity and steam) that are above the market value of the electric energy generated by ERRP.

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 H). 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 December 31, 2011, the company had collected an estimated $816 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. At December 31, 2011, the company had a $11 million regulatory liability relating to this matter. The company is unable to estimate the amount, if any, by which any refund required by the NYSPSC may exceed this regulatory liability.

In August 2009, the NYSPSC released a report on its management audit of the company. The NYSPSC is required to audit New York utilities every five years. The NYSPSC consultant that performed the audit identified areas for improvement, including with respect to the company's construction program, planning and business processes and regulatory relationships. In October 2009, the company filed with the NYSPSC the company's plan to implement the recommendations contained in the report. The company has implemented most of the recommendations.

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.

Regulatory Assets and Liabilities

Regulatory assets and liabilities at December 31, 2011 and 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	$	5,852	$	4,371	$	5,554	$	4,152
Future income tax		1,798		1,592		1,724		1,514
Environmental remediation costs		681		695		564		574
Pension and other post retirement benefits deferrals		198		138		157		90
Revenue taxes		163		145		158		140
Deferred storm costs		128		57		80		43
Net electric deferrals		121		156		121		156
Surcharge for New York State assessment		90		121		82		112
Deferred derivative losses – long-term		60		74		44		48
O&R transition bond charges		44		48		—		—
Workers' compensation		23		31		23		31
Recoverable energy costs – long-term		14		42		14		42
Property tax reconciliation		13		34		—		26
World Trade Center restoration costs		5		45		5		45
Other		147		134		135		124
Regulatory assets – long-term		9,337		7,683		8,661		7,097
Deferred derivative losses – current		164		190		140		151
Recoverable energy costs – current		—		13		—		—
Regulatory assets – current		164		203		140		151
Total Regulatory Assets	$	9,501	$	7,886	$	8,801	$	7,248
Regulatory liabilities
Allowance for cost of removal less salvage	$	448	$	422	$	372	$	350
Net unbilled revenue deferrals		104		136		104		136
World Trade Center settlement proceeds		62		—		62		—
Carrying charges on transmission and distribution net plant		38		28		14		5
Bonus depreciation		35		1		34		1
Property tax reconciliation		35		—		35		—
Long-term interest rate reconciliation		30		13		30		13
Energy efficiency programs		22		12		20		11
Gas line losses		21		—		21		—
New York State tax refund		20		30		20		30
Gain on sale of properties		14		28		14		28
Expenditure prudence proceeding		11		—		11		—
Other		137		118		124		109
Regulatory liabilities – long-term		977		788		861		683
Revenue decoupling mechanism		66		38		66		38
Refundable energy costs – current		51		117		12		90
Deferred derivative gains – current		1		4		1		3
Regulatory liabilities – current		118		159		79		131
Total Regulatory Liabilities	$	1,095	$	947	$	940	$	814

"Unrecognized pension and other postretirement costs" represents the net regulatory asset associated with the accounting rules for retirement benefits. See Note A.

"Net electric deferrals" represents the remaining unamortized balance of certain regulatory assets and liabilities of CECONY that were combined effective April 1, 2010 and are being amortized to income over a ten year period, in accordance with CECONY's March 2010 rate plan.

"Revenue taxes" represents the timing difference between taxes collected and paid by the Utilities to fund mass transportation.

Effective March 31, 2009, the NYSPSC authorized CECONY to accrue unbilled electric, gas and steam revenues. At December 31, 2011, CECONY has deferred the net margin on the unbilled revenues for the future benefit of customers by recording a regulatory liability of $104 million for the difference between the unbilled revenues and energy cost liabilities. Also, $44 million of the regulatory asset established in 1989 for unbilled gas revenues and $91 million of deferred World Trade Center costs has been offset against the unbilled revenue regulatory liability.

CECONY [Member]

Regulatory Matters

Note B Regulatory Matters

Rate Agreements

CECONY Electric