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

Reference 1: 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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.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 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 03

-Paragraph 19

-Article 5

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

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Paragraph 20

-Article 9

Reference 4: 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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.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 5: 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 6: 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=20435746&loc=d3e565-108580

Reference 7: 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 8: 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 9: 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 10: 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 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph A7

-Appendix A

Reference 12: 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 13: 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

Reference 14: 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 15: 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 16: 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

+ Details

CONSOLIDATED STATEMENT OF CASH FLOWS (USD $) In Millions, unless otherwise specified	9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
OPERATING ACTIVITIES
Net Income	$ 934	$ 869
PRINCIPAL NON-CASH CHARGES/(CREDITS) TO INCOME
Depreciation and amortization	709	659
Deferred income taxes	344	368
Rate case amortization and accruals	32	39
Common equity component of allowance for funds used during construction	(3)	(8)
Net derivative gains	(61)	(25)
Other non-cash items (net)	(53)	6
CHANGES IN ASSETS AND LIABILITIES
Accounts receivable - customers, less allowance for uncollectibles	(196)	(4)
Materials and supplies, including fuel oil and gas in storage	1	(27)
Other receivables and other current assets	54	70
Prepayments	(288)	(128)
Accounts payable	18	(50)
Pensions and retiree benefits obligations	713	578
Pensions and retiree benefits contributions	(821)	(579)
Accrued taxes	(80)	76
Accrued interest	46	57
Superfund and environmental remediation costs (net)	7
Deferred charges, noncurrent assets and other regulatory assets	183	92
Deferred credits and other regulatory liabilities	83	158
Other liabilities	16	10
NET CASH FLOWS FROM OPERATING ACTIVITIES	1,638	2,161
INVESTING ACTIVITIES
Utility construction expenditures	(1,450)	(1,404)
Cost of removal less salvage	(118)	(123)
Non-utility construction expenditures	(68)	(57)
Acquisition of Alpaugh solar energy projects	(286)
Proceeds from grants related to renewable energy investments	27	4
Net investment in Pilesgrove solar project and other	28	(31)
NET CASH FLOWS USED IN INVESTING ACTIVITIES	(1,867)	(1,611)
FINANCING ACTIVITIES
Net proceeds from short-term debt	340
Preferred stock redemption	(239)
Retirement of long-term debt	(304)	(3)
Issuance of long-term debt	400
Issuance of common shares for stock plans, net of repurchases	(16)	41
Debt issuance costs	(4)
Common stock dividends	(524)	(519)
Preferred stock dividends	(3)	(9)
NET CASH FLOWS USED IN FINANCING ACTIVITIES	(350)	(490)
CASH AND TEMPORARY CASH INVESTMENTS:
NET CHANGE FOR THE PERIOD	(579)	60
BALANCE AT BEGINNING OF PERIOD	648	338
BALANCE AT END OF PERIOD	69	398
Cash paid/(refunded) during the period for:
Interest	379	371
Income taxes	46	(132)
CECONY [Member]
OPERATING ACTIVITIES
Net Income	827	788
PRINCIPAL NON-CASH CHARGES/(CREDITS) TO INCOME
Depreciation and amortization	664	618
Deferred income taxes	220	309
Rate case amortization and accruals	32	38
Common equity component of allowance for funds used during construction	(2)	(6)
Other non-cash items (net)	84	60
CHANGES IN ASSETS AND LIABILITIES
Accounts receivable - customers, less allowance for uncollectibles	(197)	3
Materials and supplies, including fuel oil and gas in storage	12	2
Other receivables and other current assets	(41)	243
Prepayments	(308)	(303)
Accounts payable	50	(45)
Pensions and retiree benefits obligations	639	527
Pensions and retiree benefits contributions	(761)	(532)
Accrued taxes	40	(7)
Accrued interest	46	46
Superfund and environmental remediation costs (net)	7
Deferred charges, noncurrent assets and other regulatory assets	84	33
Deferred credits and other regulatory liabilities	88	167
Other liabilities	(21)	19
NET CASH FLOWS FROM OPERATING ACTIVITIES	1,463	1,960
INVESTING ACTIVITIES
Utility construction expenditures	(1,368)	(1,332)
Cost of removal less salvage	(115)	(118)
NET CASH FLOWS USED IN INVESTING ACTIVITIES	(1,483)	(1,450)
FINANCING ACTIVITIES
Net proceeds from short-term debt	332
Preferred stock redemption	(239)
Retirement of long-term debt	(300)
Issuance of long-term debt	400
Debt issuance costs	(4)
Dividend to parent	(512)	(509)
Preferred stock dividends	(3)	(9)
NET CASH FLOWS USED IN FINANCING ACTIVITIES	(326)	(518)
CASH AND TEMPORARY CASH INVESTMENTS:
NET CHANGE FOR THE PERIOD	(346)	(8)
BALANCE AT BEGINNING OF PERIOD	372	78
BALANCE AT END OF PERIOD	26	70
Cash paid/(refunded) during the period for:
Interest	344	336
Income taxes	$ 50	$ (103)

Consolidated Balance Sheet (USD $) In Millions, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
NON-UTILITY PLANT
Non-utility property, less accumulated depreciation of $25 and $24 in 2012 and 2011, respectively	$ 99	$ 89
Construction work in progress	400	39
NET PLANT	26,324	25,093
OTHER NONCURRENT ASSETS
Goodwill	429	429
Intangible assets, less accumulated amortization of $3 in 2012 and 2011	3	3
Regulatory assets	8,897	9,337
Other deferred charges and noncurrent assets	278	259
TOTAL OTHER NONCURRENT ASSETS	9,607	10,028
TOTAL ASSETS	39,633	39,214
CURRENT ASSETS
Cash and temporary cash investments	69	648
Accounts receivable - customers, less allowance for uncollectible accounts of $79 in 2012 and 2011	1,319	1,123
Other receivables	216	303
Accrued unbilled revenue	451	474
Fuel oil, gas in storage, materials and supplies, at average cost	355	356
Prepayments	433	145
Regulatory assets	77	164
Deferred tax assets - current	113	266
Other current assets	207	159
TOTAL CURRENT ASSETS	3,240	3,638
INVESTMENTS	462	455
UTILITY PLANT, AT ORIGINAL COST
General	2,253	1,944
TOTAL	31,315	29,775
Less: Accumulated depreciation	6,388	6,051
Net	24,927	23,724
Construction work in progress	898	1,241
NET UTILITY PLANT	25,825	24,965
CURRENT LIABILITIES
Long-term debt due within one year	930	530
Notes payable	340
Accounts payable	968	955
Customer deposits	308	303
Accrued taxes	108	188
Accrued interest	206	160
Accrued wages	88	91
Fair value of derivative liabilities	56	169
Regulatory liabilities	231	118
Other current liabilities	489	473
TOTAL CURRENT LIABILITIES	3,724	2,987
NONCURRENT LIABILITIES
Obligations under capital leases	2	2
Provision for injuries and damages	145	181
Pensions and retiree benefits	4,039	4,835
Superfund and other environmental costs	537	489
Asset retirement obligations	149	145
Fair value of derivative liabilities	34	48
Other noncurrent liabilities	124	131
TOTAL NONCURRENT LIABILITIES	5,030	5,831
DEFERRED CREDITS AND REGULATORY LIABILITIES
Deferred income taxes and investment tax credits	8,026	7,563
Regulatory liabilities	1,102	977
Other deferred credits	70	64
TOTAL DEFERRED CREDITS AND REGULATORY LIABILITIES	9,198	8,604
LONG-TERM DEBT	9,839	10,143
SHAREHOLDER'S EQUITY
Common shareholder's equity (See Statement of Common Shareholder's Equity)	11,842	11,436
Preferred stock of subsidiary		213
TOTAL SHAREHOLDER'S EQUITY	11,842	11,649
TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY	39,633	39,214
CECONY [Member]
NON-UTILITY PLANT
Non-utility property, less accumulated depreciation of $25 and $24 in 2012 and 2011, respectively	4	6
NET PLANT	24,311	23,502
OTHER NONCURRENT ASSETS
Regulatory assets	8,285	8,661
Other deferred charges and noncurrent assets	241	217
TOTAL OTHER NONCURRENT ASSETS	8,526	8,878
TOTAL ASSETS	35,699	35,218
CURRENT ASSETS
Cash and temporary cash investments	26	372
Accounts receivable - customers, less allowance for uncollectible accounts of $79 in 2012 and 2011	1,174	977
Other receivables	103	102
Accrued unbilled revenue	347	366
Accounts receivable from affiliated companies	82	54
Fuel oil, gas in storage, materials and supplies, at average cost	296	308
Prepayments	393	85
Regulatory assets	62	140
Deferred tax assets - current	62	157
Other current assets	114	100
TOTAL CURRENT ASSETS	2,659	2,661
INVESTMENTS	203	177
UTILITY PLANT, AT ORIGINAL COST
General	2,081	1,785
TOTAL	29,291	27,854
Less: Accumulated depreciation	5,834	5,523
Net	23,457	22,331
Construction work in progress	850	1,165
NET UTILITY PLANT	24,307	23,496
CURRENT LIABILITIES
Long-term debt due within one year	925	525
Notes payable	332
Accounts payable	772	774
Accounts payable to affiliated companies	22	16
Customer deposits	295	290
Accrued taxes	33	32
Accrued taxes to affiliated companies	165	126
Accrued interest	179	133
Accrued wages	83	81
Fair value of derivative liabilities	30	98
Regulatory liabilities	199	79
Other current liabilities	400	396
TOTAL CURRENT LIABILITIES	3,435	2,550
NONCURRENT LIABILITIES
Obligations under capital leases	2	2
Provision for injuries and damages	138	173
Pensions and retiree benefits	3,627	4,337
Superfund and other environmental costs	423	373
Asset retirement obligations	148	145
Fair value of derivative liabilities	12	24
Other noncurrent liabilities	116	120
TOTAL NONCURRENT LIABILITIES	4,466	5,174
DEFERRED CREDITS AND REGULATORY LIABILITIES
Deferred income taxes and investment tax credits	7,301	6,921
Regulatory liabilities	978	861
Other deferred credits	67	61
TOTAL DEFERRED CREDITS AND REGULATORY LIABILITIES	8,346	7,843
LONG-TERM DEBT	8,920	9,220
SHAREHOLDER'S EQUITY
Common shareholder's equity (See Statement of Common Shareholder's Equity)	10,532	10,218
Preferred stock of subsidiary		213
TOTAL SHAREHOLDER'S EQUITY	10,532	10,431
TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY	35,699	35,218
Electric Transmission [Member]
UTILITY PLANT, AT ORIGINAL COST
Utility plant, at original cost	22,019	21,114
Electric Transmission [Member] \| CECONY [Member]
UTILITY PLANT, AT ORIGINAL COST
Utility plant, at original cost	20,728	19,886
Gas Transmission [Member]
UTILITY PLANT, AT ORIGINAL COST
Utility plant, at original cost	5,009	4,734
Gas Transmission [Member] \| CECONY [Member]
UTILITY PLANT, AT ORIGINAL COST
Utility plant, at original cost	4,448	4,200
Steam Plant [Member]
UTILITY PLANT, AT ORIGINAL COST
Utility plant, at original cost	2,034	1,983
Steam Plant [Member] \| CECONY [Member]
UTILITY PLANT, AT ORIGINAL COST
Utility plant, at original cost	$ 2,034	$ 1,983

Consolidated Balance Sheet (Parenthetical) (USD $) In Millions, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
Accounts receivable - customers, allowance for uncollectible accounts	$ 85	$ 87
Other receivables, allowance for uncollectible accounts	10	10
Non-utility property, accumulated depreciation	66	59
Intangible assets, accumulated amortization	3	3
CECONY [Member]
Accounts receivable - customers, allowance for uncollectible accounts	79	79
Other receivables, allowance for uncollectible accounts	9	9
Non-utility property, accumulated depreciation	$ 25	$ 24

Summary of Significant Accounting Policies

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 COMMON SHAREHOLDERS EQUITY (USD $) In Millions, except Share data	Total	CECONY [Member]	Common Stock [Member]	Common Stock [Member] CECONY [Member]	Additional Paid-In Capital [Member]	Additional Paid-In Capital [Member] CECONY [Member]	Retained Earnings [Member]	Retained Earnings [Member] CECONY [Member]	Treasury Stock [Member]	Capital Stock Expense [Member]	Capital Stock Expense [Member] CECONY [Member]	Accumulated Other Comprehensive Income/(Loss) [Member]	Accumulated Other Comprehensive Income/(Loss) [Member] CECONY [Member]	Repurchased Con Edison Stock [Member] CECONY [Member]
BALANCE at Dec. 31, 2010	$ 11,061	$ 9,923	$ 31	$ 589	$ 4,915	$ 4,234	$ 7,220	$ 6,132	$ (1,001)	$ (64)	$ (64)	$ (40)	$ (6)	$ (962)
BALANCE (In Shares) at Dec. 31, 2010			291,616,334	235,488,094					23,210,700
Net income for common stock	311						311
Net Income		271						271
Common stock dividends	(175)	(170)					(175)	(170)
Issuance of common shares - dividend reinvestment and employee stock plans (In Shares)			656,049
Cumulative preferred dividends		(3)						(3)
Issuance of common shares - dividend reinvestment and employee stock plans	31		1		30
Other comprehensive income	3											3
BALANCE at Mar. 31, 2011	11,231	10,021	32	589	4,945	4,234	7,356	6,230		(64)	(64)	(37)	(6)	(962)
BALANCE (In Shares) at Mar. 31, 2011			292,272,383	235,488,094
BALANCE at Dec. 31, 2010	11,061	9,923		589		4,234			(1,001)	(64)	(64)		(6)	(962)
BALANCE (In Shares) at Dec. 31, 2010				235,488,094					23,210,700
Net income for common stock	860	779
Net Income	869	788
Cumulative preferred dividends	(9)
BALANCE at Sep. 30, 2011	11,454	10,192		589		4,234				(64)	(64)		(6)	(962)
BALANCE (In Shares) at Sep. 30, 2011				235,488,094
BALANCE at Mar. 31, 2011	11,231	10,021	32	589	4,945	4,234	7,356	6,230	(1,001)	(64)	(64)	(37)	(6)	(962)
BALANCE (In Shares) at Mar. 31, 2011			292,272,383	235,488,094					23,210,700
Net income for common stock	165						165
Net Income		160						160
Common stock dividends	(175)	(170)					(175)	(170)
Issuance of common shares - dividend reinvestment and employee stock plans (In Shares)			603,513						(182,942)
Cumulative preferred dividends		(3)						(3)
Issuance of common shares - dividend reinvestment and employee stock plans	37				32				5
Common stock repurchases	(9)								(9)
Common stock repurchases (In Shares)									178,942
Other comprehensive income	2											2
BALANCE at Jun. 30, 2011	11,251	10,008	32	589	4,977	4,234	7,346	6,217	(1,005)	(64)	(64)	(35)	(6)	(962)
BALANCE (In Shares) at Jun. 30, 2011			292,875,896	235,488,094					23,206,700
Net income for common stock	383	353					383
Net Income	386	356						356
Common stock dividends	(176)	(169)					(176)	(169)
Issuance of common shares - dividend reinvestment and employee stock plans (In Shares)			8,000						(554,356)
Cumulative preferred dividends	(3)	(3)						(3)
Issuance of common shares - dividend reinvestment and employee stock plans	25				6				19
Common stock repurchases	(31)								(31)
Common stock repurchases (In Shares)									546,356
Other comprehensive income	2											2
BALANCE at Sep. 30, 2011	11,454	10,192	32	589	4,983	4,234	7,553	6,401	(1,017)	(64)	(64)	(33)	(6)	(962)
BALANCE (In Shares) at Sep. 30, 2011			292,883,896	235,488,094					23,198,700
BALANCE at Dec. 31, 2011	11,436	10,218	32	589	4,991	4,234	7,568	6,429	(1,033)	(64)	(64)	(58)	(8)	(962)
BALANCE (In Shares) at Dec. 31, 2011			292,888,521	235,488,094					23,194,075
Net income for common stock	277						277
Net Income		276						276
Common stock dividends	(177)	(171)					(177)	(171)
Issuance of common shares - dividend reinvestment and employee stock plans (In Shares)			(7,225)						7,225
Cumulative preferred dividends		(3)						(3)
Issuance of common shares - dividend reinvestment and employee stock plans	(2)								(2)
Preferred stock redemption	4	4								4	4
Other comprehensive income	7											7
BALANCE at Mar. 31, 2012	11,545	10,324	32	589	4,991	4,234	7,668	6,531	(1,035)	(60)	(60)	(51)		(962)
BALANCE (In Shares) at Mar. 31, 2012			292,881,296	235,488,094					23,201,300
BALANCE at Dec. 31, 2011	11,436	10,218		589	4,991	4,234							(8)	(962)
BALANCE (In Shares) at Dec. 31, 2011				235,488,094
Net income for common stock	931	824
Net Income	934	827
Cumulative preferred dividends	(3)
BALANCE at Sep. 30, 2012	11,842	10,532		589	4,991	4,234				(61)	(60)		(10)	(962)
BALANCE (In Shares) at Sep. 30, 2012				235,488,094
BALANCE at Mar. 31, 2012	11,545	10,324	32	589	4,991	4,234	7,668	6,531	(1,035)	(60)		(51)	(8)	(962)
BALANCE (In Shares) at Mar. 31, 2012			292,881,296	235,488,094					23,201,300
Net income for common stock	214						214
Net Income		163						163
Common stock dividends	(178)	(171)					(178)	(171)
Issuance of common shares - dividend reinvestment and employee stock plans (In Shares)			1,700						(1,700)
Issuance of common shares - dividend reinvestment and employee stock plans	(1)									(1)
Other comprehensive income	(1)	(2)										(1)	(2)
BALANCE at Jun. 30, 2012	11,579	10,314	32	589	4,991	4,234	7,704	6,523	(1,035)	(61)	(60)	(52)	(10)	(962)
BALANCE (In Shares) at Jun. 30, 2012			292,882,996	235,488,094					23,199,600
Net income for common stock	440	389					440
Net Income	440	389						389
Common stock dividends	(177)	(171)					(177)	(171)
Issuance of common shares - dividend reinvestment and employee stock plans (In Shares)			(11,100)						11,100
Issuance of common shares - dividend reinvestment and employee stock plans	(2)								(2)
Other comprehensive income	2											2
BALANCE at Sep. 30, 2012	$ 11,842	$ 10,532	$ 32	$ 589	$ 4,991	$ 4,234	$ 7,967	$ 6,741	$ (1,037)	$ (61)	$ (60)	$ (50)	$ (10)	$ (962)
BALANCE (In Shares) at Sep. 30, 2012			292,871,896	235,488,094					23,210,700

General	9 Months Ended
General	Sep. 30, 2012
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. The separate interim consolidated financial statements of each of the Companies are unaudited but, in the opinion of their respective managements, reflect all adjustments (which include only normally recurring adjustments) necessary for a fair presentation of the results for the interim periods presented. The Companies’ separate interim consolidated financial statements should be read together with their separate audited financial statements (including the combined notes thereto) included in Item 8 of their combined Annual Report on Form 10-K for the year ended December 31, 2011 and their separate unaudited financial statements (including the combined notes thereto) included in Part I, Item 1 of their combined Quarterly Reports on Form 10-Q for the quarterly periods ended March 31, 2012 and June 30, 2012. Certain prior period amounts have been reclassified to conform to the current period presentation. 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. The separate interim consolidated financial statements of each of the Companies are unaudited but, in the opinion of their respective managements, reflect all adjustments (which include only normally recurring adjustments) necessary for a fair presentation of the results for the interim periods presented. The Companies’ separate interim consolidated financial statements should be read together with their separate audited financial statements (including the combined notes thereto) included in Item 8 of their combined Annual Report on Form 10-K for the year ended December 31, 2011 and their separate unaudited financial statements (including the combined notes thereto) included in Part I, Item 1 of their combined Quarterly Reports on Form 10-Q for the quarterly periods ended March 31, 2012 and June 30, 2012. Certain prior period amounts have been reclassified to conform to the current period presentation. 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

9 Months Ended

Sep. 30, 2012

Note A — Summary of Significant Accounting Policies

Earnings Per Common Share

For the three and nine months ended September 30, 2012 and 2011, basic and diluted EPS for Con Edison are calculated as follows:


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
*(Millions of Dollars, except per share amounts/Shares in Millions)*	2012		2011		2012		2011
Net income for common stock		$ 440		$ 383		$ 931		$ 860
Weighted average common shares outstanding – basic		292.9		292.9		292.9		292.5
Add: Incremental shares attributable to effect of potentially dilutive securities		1.7		1.7		1.7		1.7
Adjusted weighted average common shares outstanding – diluted		294.6		294.6		294.6		294.2
Net income for common stock per common share – basic		$ 1.50		$ 1.31		$ 3.18		$ 2.94
Net income for common stock per common share – diluted		$ 1.49		$ 1.30		$ 3.16		$ 2.92

CECONY [Member]

Summary of Significant Accounting Policies

Note A — Summary of Significant Accounting Policies

Earnings Per Common Share

For the three and nine months ended September 30, 2012 and 2011, basic and diluted EPS for Con Edison are calculated as follows:


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
*(Millions of Dollars, except per share amounts/Shares in Millions)*	2012		2011		2012		2011
Net income for common stock		$ 440		$ 383		$ 931		$ 860
Weighted average common shares outstanding – basic		292.9		292.9		292.9		292.5
Add: Incremental shares attributable to effect of potentially dilutive securities		1.7		1.7		1.7		1.7
Adjusted weighted average common shares outstanding – diluted		294.6		294.6		294.6		294.2
Net income for common stock per common share – basic		$ 1.50		$ 1.31		$ 3.18		$ 2.94
Net income for common stock per common share – diluted		$ 1.49		$ 1.30		$ 3.16		$ 2.92

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

+ References+ Details

Regulatory Matters

9 Months Ended

Sep. 30, 2012

Regulatory Matters

Note B — Regulatory Matters

Rate Agreements

CECONY — Electric

In March 2012, the NYSPSC issued an order requiring that the $134 million surcharge that was to have been collected from customers during the rate year ending March 2013 instead be offset using certain CECONY regulatory liabilities that would have otherwise been refundable to or applied for the benefit of customers after the rate year.

O&R — Electric

On February 24, 2012, O&R, the staff of the NYSPSC and the Utility Intervention Unit of New York State’s Division of Consumer Protection entered into a Joint Proposal with respect to the company’s rates for electric delivery service rendered in New York. The Joint Proposal, which the NYSPSC approved in June 2012, covers the three-year period from July 2012 through June 2015. The Joint Proposal provides for electric base rate increases of $19.4 million, $8.8 million and $15.2 million, effective July 2012, 2013 and 2014, respectively, which is being implemented, at the NYSPSC’s option, with increases of $15.2 million effective July 2012 and 2013 and an increase of $13.1 million, together with a surcharge of $2.1 million, effective July 2014. The Joint Proposal reflects the following major items:

•

a weighted average cost of capital of 7.61 percent, 7.65 percent and 7.48 percent for the rate years ending June 30, 2013, 2014 and 2015, respectively, reflecting:

•

a return on common equity of 9.4 percent, 9.5 percent and 9.6 percent for the rate years ending June 30, 2013, 2014 and 2015, respectively;

•

cost of long-term debt of 6.07 percent for each of the rate years ending June 30, 2013 and 2014 and 5.64 percent for the rate year ending June 30, 2015;

•

common equity ratio of 48 percent for each of the rate years ending June 30, 2013, 2014 and 2015; and

•

average rate base of $671 million, $708 million and $759 million for the rate years ending June 30, 2013, 2014 and 2015, respectively;

•

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

•

the company will allocate to customers the revenue requirement equivalent of 50 percent, 75 percent and 90 percent of any such earnings for each rate year in excess of 80 basis points, 180 basis points and 280 basis points, respectively, above the return on common equity for that rate year indicated above; and

•

the earnings sharing allocation between the company and customers will be on a cumulative basis at the end of rate year three;

•

continuation of a revenue decoupling mechanism;

•

continuation of a provision which defers as a regulatory liability for the benefit of customers or, subject to certain limitations, a regulatory asset for recovery from customers, as the case may be, the revenue requirement impact of the amount by which actual average net utility plant for each rate year is different than the average net utility plant reflected in rates ($678 million, $704 million and $753 million for the rate years ending June 30, 2013, 2014 and 2015, respectively);

•

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

•

continuation of rate provisions under which pension and other post-retirement benefit expenses, environmental remediation expenses, tax-exempt debt costs, property taxes and certain other expenses are reconciled to amounts for those expenses reflected in rates; and

•

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.

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 September 30, 2012, the company had collected an estimated $1,031 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. These estimated potential overcharges related to transactions that involved certain employees who were arrested and a contractor that performed work for the company. The company expects that the NYSPSC’s consultant will be reporting an estimate of potential overcharges with respect to a substantial portion of the company’s construction expenditures from January 2000 to January 2009, including expenditures for transactions that did not involve the arrested employees and contractor. The NYSPSC consultant’s estimate is expected to be materially higher than its $21 million provisional assessment. The NYSPSC’s consultant is developing its estimate based on its review of a selection of the construction expenditures and its extrapolation of the results of its review (which the company is disputing). The NYSPSC’s consultant is expected to continue to review the company’s expenditures. At September 30, 2012, the company had a $15 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 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 September 30, 2012 and December 31, 2011 were comprised of the following items:


	Con Edison				CECONY
*(Millions of Dollars)*	2012		2011		2012		2011
Regulatory assets
Unrecognized pension and other postretirement costs		$5,211		$5,852		$4,972		$5,554
Future income tax		1,888		1,798		1,810		1,724
Environmental remediation costs		722		681		607		564
Pension and other post retirement benefits deferrals		205		198		174		157
Revenue taxes		177		163		171		158
Surcharge for New York State assessment		135		90		125		82
Deferred storm costs		120		128		78		80
Net electric deferrals		107		121		107		121
Deferred derivative losses – long-term		47		60		25		44
O&R transition bond charges		40		44		—		—
Preferred stock redemption		29		—		29		—
Workers’ compensation		19		23		19		23
Property tax reconciliation		15		13		—		—
Recoverable energy costs – long-term		1		14		1		14
Other		181		152		167		140
Regulatory assets – long-term		8,897		9,337		8,285		8,661
Deferred derivative losses – current		75		164		62		140
Recoverable energy costs – current		2		—		—		—
Regulatory assets – current		77		164		62		140
Total Regulatory Assets		$8,974		$9,501		$8,347		$8,801
Regulatory liabilities
Allowance for cost of removal less salvage		$ 488		$ 448		$ 407		$ 372
Property tax reconciliation		137		35		137		35
Net unbilled revenue deferrals		121		104		121		104
World Trade Center settlement proceeds		62		62		62		62
Long-term interest rate reconciliation		54		30		54		30
Carrying charges on transmission and distribution net plant		36		38		16		14
Expenditure prudence proceeding		15		11		15		11
Gas line losses		14		21		14		21
Energy efficiency programs		5		22		5		20
Other		170		206		147		192
Regulatory liabilities – long-term		1,102		977		978		861
Revenue decoupling mechanism		107		66		103		66
Electric surcharge offset		60		—		60		—
Refundable energy costs – current		58		51		30		12
Deferred derivative gains – current		6		1		6		1
Regulatory liabilities – current		231		118		199		79
Total Regulatory Liabilities		$1,333		$1,095		$1,177		$ 940

CECONY [Member]

Regulatory Matters

Note B — Regulatory Matters

Rate Agreements

CECONY — Electric

O&R — Electric

•

a weighted average cost of capital of 7.61 percent, 7.65 percent and 7.48 percent for the rate years ending June 30, 2013, 2014 and 2015, respectively, reflecting:

•

a return on common equity of 9.4 percent, 9.5 percent and 9.6 percent for the rate years ending June 30, 2013, 2014 and 2015, respectively;

•

cost of long-term debt of 6.07 percent for each of the rate years ending June 30, 2013 and 2014 and 5.64 percent for the rate year ending June 30, 2015;

•

common equity ratio of 48 percent for each of the rate years ending June 30, 2013, 2014 and 2015; and

•

average rate base of $671 million, $708 million and $759 million for the rate years ending June 30, 2013, 2014 and 2015, respectively;

•

the earnings sharing allocation between the company and customers will be on a cumulative basis at the end of rate year three;

•

continuation of a revenue decoupling mechanism;

•

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

•

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.

Other Regulatory Matters

Regulatory Assets and Liabilities

Regulatory assets and liabilities at September 30, 2012 and December 31, 2011 were comprised of the following items:


	Con Edison				CECONY
*(Millions of Dollars)*	2012		2011		2012		2011
Regulatory assets
Unrecognized pension and other postretirement costs		$5,211		$5,852		$4,972		$5,554
Future income tax		1,888		1,798		1,810		1,724
Environmental remediation costs		722		681		607		564
Pension and other post retirement benefits deferrals		205		198		174		157
Revenue taxes		177		163		171		158
Surcharge for New York State assessment		135		90		125		82
Deferred storm costs		120		128		78		80
Net electric deferrals		107		121		107		121
Deferred derivative losses – long-term		47		60		25		44
O&R transition bond charges		40		44		—		—
Preferred stock redemption		29		—		29		—
Workers’ compensation		19		23		19		23
Property tax reconciliation		15		13		—		—
Recoverable energy costs – long-term		1		14		1		14
Other		181		152		167		140
Regulatory assets – long-term		8,897		9,337		8,285		8,661
Deferred derivative losses – current		75		164		62		140
Recoverable energy costs – current		2		—		—		—
Regulatory assets – current		77		164		62		140
Total Regulatory Assets		$8,974		$9,501		$8,347		$8,801
Regulatory liabilities
Allowance for cost of removal less salvage		$ 488		$ 448		$ 407		$ 372
Property tax reconciliation		137		35		137		35
Net unbilled revenue deferrals		121		104		121		104
World Trade Center settlement proceeds		62		62		62		62
Long-term interest rate reconciliation		54		30		54		30
Carrying charges on transmission and distribution net plant		36		38		16		14
Expenditure prudence proceeding		15		11		15		11
Gas line losses		14		21		14		21
Energy efficiency programs		5		22		5		20
Other		170		206		147		192
Regulatory liabilities – long-term		1,102		977		978		861
Revenue decoupling mechanism		107		66		103		66
Electric surcharge offset		60		—		60		—
Refundable energy costs – current		58		51		30		12
Deferred derivative gains – current		6		1		6		1
Regulatory liabilities – current		231		118		199		79
Total Regulatory Liabilities		$1,333		$1,095		$1,177		$ 940

Capitalization

9 Months Ended

Sep. 30, 2012

Capitalization

Note C — Capitalization

In March 2012, CECONY issued $400 million of 4.20 percent 30-year debentures, $239 million of the net proceeds from the sale of which were used to redeem on May 1, 2012 all outstanding shares of its $5 Cumulative Preferred Stock and Cumulative Preferred Stock ($100 par value). In November 2012, CECONY purchased $225 million of its tax-exempt debt that was subject to mandatory tender.

The carrying amounts and fair values of long-term debt are:


*(Millions of Dollars)*	September 30, 2012				December 31, 2011
Long-Term Debt (including current portion)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Con Edison		$10,769		$13,197		$10,673		$12,744
CECONY		$ 9,845		$12,001		$ 9,745		$11,593

Fair values of long-term debt have been estimated primarily using available market information. For Con Edison, $12,561 million and $636 million of the fair value of long-term debt at September 30, 2012 are classified as Level 2 and Level 3, respectively. For CECONY, $11,365 million and $636 million of the fair value of long-term debt at September 30, 2012 are classified as Level 2 and Level 3, respectively (see Note K). The $636 million of long-term debt classified as Level 3 is CECONY’s tax-exempt, auction-rate securities for which the market is highly illiquid and there is a lack of observable inputs.

CECONY [Member]

Capitalization

Note C — Capitalization

The carrying amounts and fair values of long-term debt are:


*(Millions of Dollars)*	September 30, 2012				December 31, 2011
Long-Term Debt (including current portion)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Con Edison		$10,769		$13,197		$10,673		$12,744
CECONY		$ 9,845		$12,001		$ 9,745		$11,593

Short-Term Borrowing	9 Months Ended
Short-Term Borrowing	Sep. 30, 2012
Short-Term Borrowing	Note D — Short-Term Borrowing At September 30, 2012, Con Edison had $340 million of commercial paper outstanding, $332 million of which was outstanding under CECONY’s program. The weighted average interest rate was 0.3 percent for each of Con Edison and CECONY. The Companies have not borrowed under their October 2011 credit agreement. Con Edison had $207 million of letters of credit outstanding under the credit agreement (including $192 million for CECONY).
CECONY [Member]
Short-Term Borrowing	Note D — Short-Term Borrowing At September 30, 2012, Con Edison had $340 million of commercial paper outstanding, $332 million of which was outstanding under CECONY’s program. The weighted average interest rate was 0.3 percent for each of Con Edison and CECONY. The Companies have not borrowed under their October 2011 credit agreement. Con Edison had $207 million of letters of credit outstanding under the credit agreement (including $192 million for CECONY).

The entire disclosure for short-term debt.

+ References+ Details

Pension Benefits

9 Months Ended

Sep. 30, 2012

Pension Benefits

Note E — Pension Benefits

Net Periodic Benefit Cost

The components of the Companies’ net periodic benefit costs for the three and nine months ended September 30, 2012 and 2011 were as follows:


	For the Three Months Ended September 30,
	Con Edison						CECONY
*(Millions of Dollars)*	2012			2011			2012			2011
Service cost – including administrative expenses		$ 59			$ 48			$ 55			$ 45
Interest cost on projected benefit obligation		137			140			128			131
Expected return on plan assets		(176	)		(184	)		(168	)		(174	)
Amortization of net actuarial loss		177			133			168			126
Amortization of prior service costs		2			2			2			—
NET PERIODIC BENEFIT COST		$ 199			$ 139			$ 185			$ 128
Cost capitalized		(64	)		(45	)		(60	)		(42	)
Reconciliation to rate level		—			(11	)		(1	)		(11	)
Cost charged to operating expenses		$ 135			$ 83			$ 124			$ 75


	For the Nine Months Ended September 30,
	Con Edison						CECONY
*(Millions of Dollars)*	2012			2011			2012			2011
Service cost – including administrative expenses		$ 177			$ 142			$ 165			$ 133
Interest cost on projected benefit obligation		410			420			385			393
Expected return on plan assets		(528	)		(550	)		(503	)		(524	)
Amortization of net actuarial loss		531			397			503			376
Amortization of prior service costs		6			6			4			4
NET PERIODIC BENEFIT COST		$ 596			$ 415			$ 554			$ 382
Amortization of regulatory asset		1			1			1			1
TOTAL PERIODIC BENEFIT COST		$ 597			$ 416			$ 555			$ 383
Cost capitalized		(200	)		(141	)		(186	)		(131	)
Reconciliation to rate level		(37	)		(68	)		(36	)		(70	)
Cost charged to operating expenses		$ 360			$ 207			$ 333			$ 182

Expected Contributions

The Companies made contributions to the pension plan during 2012 of $775 million (of which $721 million was contributed by CECONY). The Companies’ policy is to fund their pension plan’s accounting cost to the extent tax deductible. During the first nine months of 2012, CECONY also funded $12 million for the non-qualified supplemental plan.

CECONY [Member]

Pension Benefits

Note E — Pension Benefits

Net Periodic Benefit Cost

The components of the Companies’ net periodic benefit costs for the three and nine months ended September 30, 2012 and 2011 were as follows:


	For the Three Months Ended September 30,
	Con Edison						CECONY
*(Millions of Dollars)*	2012			2011			2012			2011
Service cost – including administrative expenses		$ 59			$ 48			$ 55			$ 45
Interest cost on projected benefit obligation		137			140			128			131
Expected return on plan assets		(176	)		(184	)		(168	)		(174	)
Amortization of net actuarial loss		177			133			168			126
Amortization of prior service costs		2			2			2			—
NET PERIODIC BENEFIT COST		$ 199			$ 139			$ 185			$ 128
Cost capitalized		(64	)		(45	)		(60	)		(42	)
Reconciliation to rate level		—			(11	)		(1	)		(11	)
Cost charged to operating expenses		$ 135			$ 83			$ 124			$ 75


	For the Nine Months Ended September 30,
	Con Edison						CECONY
*(Millions of Dollars)*	2012			2011			2012			2011
Service cost – including administrative expenses		$ 177			$ 142			$ 165			$ 133
Interest cost on projected benefit obligation		410			420			385			393
Expected return on plan assets		(528	)		(550	)		(503	)		(524	)
Amortization of net actuarial loss		531			397			503			376
Amortization of prior service costs		6			6			4			4
NET PERIODIC BENEFIT COST		$ 596			$ 415			$ 554			$ 382
Amortization of regulatory asset		1			1			1			1
TOTAL PERIODIC BENEFIT COST		$ 597			$ 416			$ 555			$ 383
Cost capitalized		(200	)		(141	)		(186	)		(131	)
Reconciliation to rate level		(37	)		(68	)		(36	)		(70	)
Cost charged to operating expenses		$ 360			$ 207			$ 333			$ 182

Expected Contributions

The entire disclosure for pension and other postretirement benefits.

Other Postretirement Benefits

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 132R

-Paragraph 5, 6, 7, 8

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 158

-Paragraph 7, 21, 22

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

-Publisher FASB

-Name Implementation Guide (Q and A)

-Number FAS88

-Paragraph 63

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

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 03-2

-Paragraph 8

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 87

-Paragraph 264

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 106

-Paragraph 518

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-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 132R

-Paragraph 5

-Subparagraph b

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-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 132R

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-Subparagraph a

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-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 30

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-Number 132R

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-Subparagraph m

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-Publisher FASB

-Name Accounting Standards Codification

-Topic 715

-URI http://asc.fasb.org/topic&trid=2235017

+ Details

Other Postretirement Benefits

9 Months Ended

Sep. 30, 2012

Note F — Other Postretirement Benefits

Net Periodic Benefit Cost

The components of the Companies’ net periodic postretirement benefit costs for the three and nine months ended September 30, 2012 and 2011 were as follows:


	For the Three Months Ended September 30,
	Con Edison						CECONY
*(Millions of Dollars)*	2012			2011			2012			2011
Service cost		$ 6			$ 7			$ 5			$ 5
Interest cost on accumulated other postretirement benefit obligation		18			20			16			18
Expected return on plan assets		(21	)		(22	)		(19	)		(21	)
Amortization of net actuarial loss		24			22			22			20
Amortization of prior service cost		(5	)		(3	)		(4	)		(3	)
Amortization of transition obligation		—			1			—			1
NET PERIODIC POSTRETIREMENT BENEFIT COST		$ 22			$ 25			$ 20			$ 20
Cost capitalized		(8	)		(9	)		(7	)		(7	)
Reconciliation to rate level		3			3			3			3
Cost charged to operating expenses		$ 17			$ 19			$ 16			$ 16


	For the Nine Months Ended September 30,
	Con Edison						CECONY
*(Millions of Dollars)*	2012			2011			2012			2011
Service cost		$ 20			$ 19			$ 15			$ 15
Interest cost on accumulated other postretirement benefit obligation		55			62			48			54
Expected return on plan assets		(64	)		(66	)		(56	)		(59	)
Amortization of net actuarial loss		73			66			65			60
Amortization of prior service cost		(16	)		(7	)		(13	)		(9	)
Amortization of transition obligation		1			3			1			3
NET PERIODIC POSTRETIREMENT BENEFIT COST		$ 69			$ 77			$ 60			$ 64
Cost capitalized		(24	)		(27	)		(20	)		(22	)
Reconciliation to rate level		15			12			12			10
Cost charged to operating expenses		$ 60			$ 62			$ 52			$ 52

Expected Contributions

The entire disclosure for postemployment benefits, which may include supplemental unemployment benefits, obligations recognized for all types of benefits provided to former or inactive employees, their beneficiaries, and covered dependents after employment but before retirement. Disclosure may also include discussion that an obligation for postemployment benefits is not accrued in accordance with regulation only because the amount cannot be reasonably estimated.

+ References+ Details

Environmental Matters

9 Months Ended

Sep. 30, 2012

Environmental Matters

Note G — Environmental Matters

Superfund Sites

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

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

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

The accrued liabilities and regulatory assets related to Superfund Sites at September 30, 2012 and December 31, 2011 were as follows:


	Con Edison				CECONY
*(Millions of Dollars)*	2012		2011		2012		2011
Accrued Liabilities:
Manufactured gas plant sites		$466		$422		$352		$307
Other Superfund Sites		71		67		71		66
Total		$537		$489		$423		$373
Regulatory assets		$722		$681		$607		$564

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

Environmental remediation costs incurred and insurance recoveries received related to Superfund Sites for the three and nine months ended September 30, 2012 and 2011, were as follows:


	For the Three Months Ended September 30,
	Con Edison				CECONY
*(Millions of Dollars)*	2012		2011		2012		2011
Remediation costs incurred		$3		$9		$1		$9
Insurance recoveries received		—		—		—		—


	For the Nine Months Ended September 30,
	Con Edison				CECONY
*(Millions of Dollars)*	2012		2011		2012		2011
Remediation costs incurred		$18		$24		$15		$22
Insurance recoveries received		—		—		—		—

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

Asbestos Proceedings

Suits have been brought in New York State and federal courts against the Utilities and many other defendants, wherein a large number of plaintiffs sought large amounts of compensatory and punitive damages for deaths and injuries allegedly caused by exposure to asbestos at various premises of the Utilities. The suits that have been resolved, which are many, have been resolved without any payment by the Utilities, or for amounts that were not, in the aggregate, material to them. The amounts specified in all the remaining thousands of suits total billions of dollars; however, the Utilities believe that these amounts are greatly exaggerated, based on the disposition of previous claims. In 2010, CECONY estimated that its aggregate undiscounted potential liability for these suits and additional suits that may be brought over the next 15 years is $10 million. The estimate was based upon a combination of modeling, historical data analysis and risk factor assessment. Actual experience may be materially different. In addition, certain current and former employees have claimed or are claiming workers’ compensation benefits based on alleged disability from exposure to asbestos. Under its current rate agreements, CECONY is permitted to defer as regulatory assets (for subsequent recovery through rates) costs incurred for its asbestos lawsuits and workers’ compensation claims. The accrued liability for asbestos suits and workers’ compensation proceedings (including those related to asbestos exposure) and the amounts deferred as regulatory assets for the Companies at September 30, 2012 and December 31, 2011 were as follows:


	Con Edison				CECONY
*(Millions of Dollars)*	2012		2011		2012		2011
Accrued liability – asbestos suits		$10		$10		$10		$10
Regulatory assets – asbestos suits		$10		$10		$10		$10
Accrued liability – workers’ compensation		$94		$98		$89		$93
Regulatory assets – workers’ compensation		$19		$23		$19		$23

CECONY [Member]

Environmental Matters

Note G — Environmental Matters

Superfund Sites

The accrued liabilities and regulatory assets related to Superfund Sites at September 30, 2012 and December 31, 2011 were as follows:


	Con Edison				CECONY
*(Millions of Dollars)*	2012		2011		2012		2011
Accrued Liabilities:
Manufactured gas plant sites		$466		$422		$352		$307
Other Superfund Sites		71		67		71		66
Total		$537		$489		$423		$373
Regulatory assets		$722		$681		$607		$564

Environmental remediation costs incurred and insurance recoveries received related to Superfund Sites for the three and nine months ended September 30, 2012 and 2011, were as follows:


	For the Three Months Ended September 30,
	Con Edison				CECONY
*(Millions of Dollars)*	2012		2011		2012		2011
Remediation costs incurred		$3		$9		$1		$9
Insurance recoveries received		—		—		—		—


	For the Nine Months Ended September 30,
	Con Edison				CECONY
*(Millions of Dollars)*	2012		2011		2012		2011
Remediation costs incurred		$18		$24		$15		$22
Insurance recoveries received		—		—		—		—

Asbestos Proceedings


	Con Edison				CECONY
*(Millions of Dollars)*	2012		2011		2012		2011
Accrued liability – asbestos suits		$10		$10		$10		$10
Regulatory assets – asbestos suits		$10		$10		$10		$10
Accrued liability – workers’ compensation		$94		$98		$89		$93
Regulatory assets – workers’ compensation		$19		$23		$19		$23

Other Material Contingencies

The entire disclosure for environmental loss contingencies, such as presence of hazardous waste, relevant information from reports issued by regulators, and estimated costs to achieve compliance with regulatory requirements. This element may be used for all of an entity's disclosures about environmental loss contingencies.

+ References+ Details

Other Material Contingencies

9 Months Ended

Sep. 30, 2012

Note H — Other Material Contingencies

Manhattan Steam Main Rupture

In July 2007, a CECONY steam main located in midtown Manhattan ruptured. It has been reported that one person died and others were injured as a result of the incident. Several buildings in the area were damaged. Debris from the incident included dirt and mud containing asbestos. The response to the incident required the closing of several buildings and streets for various periods. Approximately 93 suits are pending against the company seeking generally unspecified compensatory and, in some cases, punitive damages, for personal injury, property damage and business interruption. The company has not accrued a liability for the suits. The company has notified its insurers of the incident and believes that the policies in force at the time of the incident will cover most of the company’s costs, which the company is unable to estimate, but which could be substantial, to satisfy its liability to others in connection with the incident.

Investigations of Vendor Payments

In January 2009, CECONY commenced an internal investigation relating to the arrests of certain employees and retired employees (all of whom have since been convicted) for accepting kickbacks from contractors that performed construction work for the company. The company has retained a law firm, which has retained an accounting firm, to assist in the company’s investigation. The company has provided information to governmental authorities, which consider the company to be a victim of unlawful conduct, in connection with their investigation of the arrested employees and contractors. The company has terminated its employment of the arrested employees and its contracts with the contractors. In February 2009, the NYSPSC commenced a proceeding that, among other things, will examine the prudence of certain of the company’s expenditures relating to the arrests and consider whether additional expenditures should also be examined (see “Other Regulatory Matters” in Note B).

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

The company, based upon its evaluation of its internal controls for 2011 and previous years, believes that the controls were effective to provide reasonable assurance that its financial statements have been fairly presented, in all material respects, in conformity with generally accepted accounting principles. Because the company’s investigations are ongoing, the company is unable to predict the impact of any of the employees’ unlawful conduct on the company’s internal controls, business, results of operations or financial position.

Lease In/Lease Out Transactions

In each of 1997 and 1999, Con Edison Development entered into a transaction in which it leased property and then immediately subleased it back to the lessor (termed “Lease In/Lease Out,” or LILO transactions). The transactions respectively involve electric generating and gas distribution facilities in the Netherlands, with a total investment of $259 million. The transactions were financed with $93 million of equity and $166 million of non-recourse, long-term debt secured by the underlying assets. In accordance with the accounting rules for leases, Con Edison is accounting for the two LILO transactions as leveraged leases. Accordingly, the company’s investment in these leases, net of non-recourse debt, is carried as a single amount in Con Edison’s consolidated balance sheet and income is recognized pursuant to a method that incorporates a level rate of return for those years when net investment in the lease is positive, based upon the after-tax cash flows projected at the inception of the leveraged leases. The company’s investment in these leveraged leases was $(73) million at September 30, 2012 and $(55) million at December 31, 2011 and is comprised of a $228 million gross investment less $301 million of deferred tax liabilities at September 30, 2012 and $234 million gross investment less $289 million of deferred tax liabilities at December 31, 2011.

On audit of Con Edison’s tax return for 1997, the IRS disallowed the tax losses in connection with the 1997 LILO transaction. In December 2005, Con Edison paid a $0.3 million income tax deficiency asserted by the IRS for the tax year 1997 with respect to the 1997 LILO transaction. In April 2006, the company paid interest of $0.2 million associated with the deficiency and commenced an action in the United States Court of Federal Claims, entitled Consolidated Edison Company of New York, Inc. v. United States, to obtain a refund of this tax payment and interest. A trial was completed in November 2007. In October 2009, the court issued a decision in favor of the company concluding that the 1997 LILO transaction was, in substance, a true lease that possessed economic substance, the loans relating to the lease constituted bona fide indebtedness, and the deductions for the 1997 LILO transactions claimed by the company in its 1997 federal income tax return are allowable. The IRS appealed the decision in December 2011. Oral argument on the appeal is scheduled to be held in November 2012.

In connection with its audit of Con Edison’s federal income tax returns for 1998 through 2007, the IRS disallowed $416 million of net tax deductions taken with respect to both of the LILO transactions for the tax years. Con Edison is pursuing administrative appeals of these audit level disallowances. In connection with its audit of Con Edison’s federal income tax returns for 2011, 2010, 2009 and 2008, the IRS has disallowed $35 million, $40 million, $41 million and $42 million, respectively, of net tax deductions taken with respect to both of the LILO transactions. When these audit level disallowances become appealable, Con Edison intends to file an appeal of the disallowances.

Con Edison believes that its LILO transactions have been correctly reported, and has not recorded any reserve with respect to the disallowance of tax losses, or related interest, in connection with its LILO transactions. Con Edison’s estimated tax savings, reflected in its financial statements, from the two LILO transactions through September 30, 2012, in the aggregate, was $248 million. If Con Edison were required to repay all or a portion of these amounts, it would also be required to pay interest of up to $122 million net of tax at September 30, 2012.

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

Guarantees

Con Edison and its subsidiaries enter into various agreements providing financial or performance assurance primarily to third parties on behalf of their subsidiaries. Maximum amounts guaranteed by Con Edison totaled $823 million and $760 million at September 30, 2012 and December 31, 2011, respectively.

A summary, by type and term, of Con Edison’s total guarantees at September 30, 2012 is as follows:


Guarantee Type	0 – 3 years		4 – 10 years		> 10 years		Total
	*(Millions of Dollars)*
Energy transactions		$696		$2		$66		$764
Intra-company guarantees		15		—		1		16
Other guarantees		38		5		—		43
TOTAL		$749		$7		$67		$823

Energy Transactions — Con Edison guarantees payments on behalf of its competitive energy businesses in order to facilitate physical and financial transactions in gas, pipeline capacity, transportation, oil, electricity and energy services. To the extent that liabilities exist under the contracts subject to these guarantees, such liabilities are included in Con Edison’s consolidated balance sheet.

Intra-company Guarantees — Con Edison guarantees electricity sales made by Con Edison Energy and Con Edison Solutions to O&R and CECONY.

Other Guarantees — Con Edison and Con Edison Development also guarantee the following:

•

$7 million relates to guarantees issued by Con Edison to CECONY covering a former Con Edison subsidiary’s lease payment to use CECONY’s conduit system in accordance with a tariff approved by the NYSPSC and a guarantee issued by Con Edison to a landlord to guarantee the former subsidiary’s obligations under a building lease. The former subsidiary is obligated to reimburse Con Edison for any payments made under these guarantees. This obligation is fully secured by letters of credit;

•

$25 million for guarantees provided by Con Edison to Travelers Insurance Company for indemnity agreements for surety bonds in connection with energy service projects performed by Con Edison Solutions;

•

$11 million for guarantees provided by Con Edison Development to Travelers Insurance Company for indemnity agreements for surety bonds in connection with the construction and operation of solar facilities performed by its subsidiaries; and

•

Con Edison, on behalf of Con Edison Solutions, as a retail electric provider, issued a guarantee to the Public Utility Commission of Texas with no specified limitation on the amount guaranteed, covering the payment of all obligations of a retail electric provider. Con Edison’s estimate of the maximum potential obligation is $5 million as of September 30, 2012.

CECONY [Member]

Other Material Contingencies

Note H — Other Material Contingencies

Manhattan Steam Main Rupture

Investigations of Vendor Payments

Lease In/Lease Out Transactions

Guarantees

A summary, by type and term, of Con Edison’s total guarantees at September 30, 2012 is as follows:


Guarantee Type	0 – 3 years		4 – 10 years		> 10 years		Total
	*(Millions of Dollars)*
Energy transactions		$696		$2		$66		$764
Intra-company guarantees		15		—		1		16
Other guarantees		38		5		—		43
TOTAL		$749		$7		$67		$823

Intra-company Guarantees — Con Edison guarantees electricity sales made by Con Edison Energy and Con Edison Solutions to O&R and CECONY.

Other Guarantees — Con Edison and Con Edison Development also guarantee the following:

•

The entire disclosure for commitments and contingencies.

Financial Information by Business Segment

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

-Publisher FASB

-Name FASB Interpretation (FIN)

-Number 14

-Paragraph 3

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

-Publisher FASB

-Name Accounting Standards Codification

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+ Details

Financial Information by Business Segment

9 Months Ended

Sep. 30, 2012

Note I — Financial Information by Business Segment

The financial data for the business segments are as follows:


	For the Three Months Ended September 30,
	Operating revenues					Inter-segment revenues						Depreciation and amortization				Operating income
*(Millions of Dollars)*	2012		2011			2012			2011			2012		2011		2012			2011
CECONY
Electric		$2,611		$2,644			$ 4			$ 3			$179		$166		$812			$758
Gas		189		197			1			1			31		28		(21	)		(23	)
Steam		68		76			20			20			15		15		(37	)		(33	)
Consolidation adjustments		—		—			(25	)		(24	)		—		—		—			—
Total CECONY		$2,868		$2,917			$ —			$ —			$225		$209		$754			$702
O&R
Electric		$ 199		$ 217			$ —			$ —			$ 10		$ 9		$ 50			$ 44
Gas		27		24			—			—			3		3		(6	)		(6	)
Total O&R		$ 226		$ 241			$ —			$ —			$ 13		$ 12		$ 44			$ 38
Competitive energy businesses		$ 344		$ 472			$ 2			$ 3			$ 2		$ 1		$ 53			$ 16
Other*		—		(1	)		(2	)		(3	)		—		—		—			—
Total Con Edison		$3,438		$3,629			$ —			$ —			$240		$222		$851			$756

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


	For the Nine Months Ended September 30,
	Operating revenues						Inter-segment revenues						Depreciation and amortization				Operating income
*(Millions of Dollars)*	2012			2011			2012			2011			2012		2011		2012			2011
CECONY
Electric		$6,307			$6,378			$ 11			$ 9			$527		$489		$1,383			$1,326
Gas		1,017			1,156			4			4			89		82		255			212
Steam		414			508			58			59			48		47		40			81
Consolidation adjustments		—			—			(73	)		(72	)		—		—		—			—
Total CECONY		$7,738			$8,042			$ —			$ —			$664		$618		$1,678			$1,619
O&R
Electric		$ 457			$ 507			$ —			$ —			$ 28		$ 26		$ 74			$ 69
Gas		144			153			—			—			11		10		26			22
Total O&R		$ 601			$ 660			$ —			$ —			$ 39		$ 36		$ 100			$ 91
Competitive energy businesses		$ 954			$1,286			$ 6			$ 9			$ 6		$ 5		$ 111			$ 75
Other*		(6	)		(16	)		(6	)		(9	)		—		—		(3	)		(4	)
Total Con Edison		$9,287			$9,972			$ —			$ —			$709		$659		$1,886			$1,781

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

In July 2012, Con Edison Development purchased a company that is developing 70 MW (AC) of solar energy projects in Alpaugh, California (Alpaugh). Electricity generated by the projects is to be purchased by Pacific Gas and Electric Company pursuant to long-term power purchase agreements (PPA). Alpaugh was purchased for $288 million, including contingent consideration of $2 million, of which $284 million has been allocated to construction work in progress and $4 million to deposits relating to the PPA and interconnection agreements. The total cost to acquire and construct these projects is estimated to be $350 million.

In October 2012, Con Edison Development purchased two companies that are developing 40 MW (AC) of solar energy projects in Tulare and Kings County, California. Electricity generated by the projects is to be purchased by Pacific Gas and Electric Company pursuant to long-term PPAs. The projects were purchased for approximately $51 million, of which $39 million has been allocated to construction work in progress and $12 million to deposits relating to the PPA and interconnection agreements. The total cost to acquire and construct these projects is estimated to be $200 million.

CECONY [Member]

Financial Information by Business Segment

Note I — Financial Information by Business Segment

The financial data for the business segments are as follows:


	For the Three Months Ended September 30,
	Operating revenues					Inter-segment revenues						Depreciation and amortization				Operating income
*(Millions of Dollars)*	2012		2011			2012			2011			2012		2011		2012			2011
CECONY
Electric		$2,611		$2,644			$ 4			$ 3			$179		$166		$812			$758
Gas		189		197			1			1			31		28		(21	)		(23	)
Steam		68		76			20			20			15		15		(37	)		(33	)
Consolidation adjustments		—		—			(25	)		(24	)		—		—		—			—
Total CECONY		$2,868		$2,917			$ —			$ —			$225		$209		$754			$702
O&R
Electric		$ 199		$ 217			$ —			$ —			$ 10		$ 9		$ 50			$ 44
Gas		27		24			—			—			3		3		(6	)		(6	)
Total O&R		$ 226		$ 241			$ —			$ —			$ 13		$ 12		$ 44			$ 38
Competitive energy businesses		$ 344		$ 472			$ 2			$ 3			$ 2		$ 1		$ 53			$ 16
Other*		—		(1	)		(2	)		(3	)		—		—		—			—
Total Con Edison		$3,438		$3,629			$ —			$ —			$240		$222		$851			$756

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


	For the Nine Months Ended September 30,
	Operating revenues						Inter-segment revenues						Depreciation and amortization				Operating income
*(Millions of Dollars)*	2012			2011			2012			2011			2012		2011		2012			2011
CECONY
Electric		$6,307			$6,378			$ 11			$ 9			$527		$489		$1,383			$1,326
Gas		1,017			1,156			4			4			89		82		255			212
Steam		414			508			58			59			48		47		40			81
Consolidation adjustments		—			—			(73	)		(72	)		—		—		—			—
Total CECONY		$7,738			$8,042			$ —			$ —			$664		$618		$1,678			$1,619
O&R
Electric		$ 457			$ 507			$ —			$ —			$ 28		$ 26		$ 74			$ 69
Gas		144			153			—			—			11		10		26			22
Total O&R		$ 601			$ 660			$ —			$ —			$ 39		$ 36		$ 100			$ 91
Competitive energy businesses		$ 954			$1,286			$ 6			$ 9			$ 6		$ 5		$ 111			$ 75
Other*		(6	)		(16	)		(6	)		(9	)		—		—		(3	)		(4	)
Total Con Edison		$9,287			$9,972			$ —			$ —			$709		$659		$1,886			$1,781

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

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

Derivative Instruments and Hedging Activities

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+ Details

Derivative Instruments and Hedging Activities

9 Months Ended

Sep. 30, 2012

Note J — Derivative Instruments and Hedging Activities

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

Energy Price Hedging

Con Edison’s subsidiaries hedge market price fluctuations associated with physical purchases and sales of electricity, natural gas, and steam by using derivative instruments, including futures, forwards, basis swaps, options, transmission congestion contracts and financial transmission rights contracts. The fair values of the Companies’ commodity derivatives at September 30, 2012 and December 31, 2011 were as follows:


	Con Edison						CECONY
*(Millions of Dollars)*	2012			2011			2012			2011
Fair value of net derivative assets/(liabilities) – gross		$(92	)		$(249	)		$(48	)		$(144	)
Impact of netting of cash collateral		59			110			33			46
Fair value of net derivative assets/(liabilities) – net		$(33	)		$(139	)		$(15	)		$ (98	)

Credit Exposure

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

At September 30, 2012, Con Edison and CECONY had $118 million and $13 million of credit exposure in connection with energy supply and hedging activities, net of collateral, respectively. Con Edison’s net credit exposure consisted of $44 million with investment-grade counterparties, $25 million with commodity exchange brokers, $47 million with independent system operators and $2 million with non-rated counterparties. CECONY’s net credit exposure consisted of $3 million with investment-grade counterparties and $10 million with commodity exchange brokers.

Economic Hedges

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

The fair values of the Companies’ commodity derivatives at September 30, 2012 were:


*(Millions of Dollars)*	Fair Value of Commodity Derivatives (a) Balance Sheet Location	Con Edison			CECONY
Derivative Assets
Current	Other current assets		$ 91			$ 30
Long-term	Other deferred charges and non-current assets		19			10
Total derivative assets			$ 110			$ 40
Impact of netting			(59	)		(13	)
Net derivative assets			$ 51			$ 27


Derivative Liabilities
Current	Fair value of derivative liabilities	$ 149		$ 60
Long-term	Fair value of derivative liabilities	53		28
Total derivative liabilities		$ 202		$ 88
Impact of netting		(118	)	(46	)
Net derivative liabilities		$ 84		$ 42

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

The fair values of the Companies’ commodity derivatives at December 31, 2011 were:


*(Millions of Dollars)*	Fair Value of Commodity Derivatives (a) Balance Sheet Location	Con Edison			CECONY
Derivative Assets
Current	Other current assets		$ 139			$ 16
Long-term	Other deferred charges and non-current assets		26			14
Total derivative assets			$ 165			$ 30
Impact of netting			(95	)		(6	)
Net derivative assets			$ 70			$ 24
Derivative Liabilities
Current	Fair value of derivative liabilities		$ 331			$127
Long-term	Fair value of derivative liabilities		83			48
Total derivative liabilities			$ 414			$175
Impact of netting			(205	)		(53	)
Net derivative liabilities			$ 209			$122

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

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

The following tables present the changes in the fair values of commodity derivatives that have been deferred or recognized in earnings for the three and nine months ended September 30, 2012:


Realized and Unrealized Gains/(Losses) on Commodity Derivatives (a) Deferred or Recognized in Income for the Three Months Ended September 30, 2012
*(Millions of Dollars)*	Balance Sheet Location	Con Edison			CECONY
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Current	Deferred derivative gains		$ 5			$ 5
Long-term	Deferred derivative gains		1			1
Total deferred gains/(losses)			$ 6			$ 6
Current	Deferred derivative losses		$ 51			$ 42
Current	Recoverable energy costs		(60	)		(52	)
Long-term	Deferred derivative losses		22			20
Total deferred gains/(losses)			$ 13			$ 10
Net deferred gains/(losses)			$ 19			$ 16
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense		$ 9	(b)		$ —
	Gas purchased for resale		—			—
	Non-utility revenue		1	(b)		—
Total pre-tax gain/(loss) recognized in income			$ 10			$ —

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

(b)	For the three months ended September 30, 2012, Con Edison recorded in purchased power expense an unrealized pre-tax gain/(loss) of $30 million.


Realized and Unrealized Gains/(Losses) on Commodity Derivatives (a) Deferred or Recognized in Income for the Nine Months Ended September 30, 2012
*(Millions of Dollars)*	Balance Sheet Location	Con Edison			CECONY
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Current	Deferred derivative gains		$ 5			$ 5
Long-term	Deferred derivative gains		1			1
Total deferred gains/(losses)			$ 6			$ 6
Current	Deferred derivative losses		$ 89			$ 78
Current	Recoverable energy costs		(187	)		(164	)
Long-term	Deferred derivative losses		13			19
Total deferred gains/(losses)			$ (85	)		$ (67	)
Net deferred gains/(losses)			$ (79	)		$ (61	)
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense		$ (49	)(b)		$ —
	Gas purchased for resale		(2	)		—
	Non-utility revenue		(11	)(b)		—
Total pre-tax gain/(loss) recognized in income			$ (62	)		$ —

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

(b)	For the nine months ended September 30, 2012, Con Edison recorded in non-utility revenues and purchased power expense an unrealized pre-tax gain/(loss) of $(13) million and $75 million, respectively.

The following tables present the changes in the fair values of commodity derivatives that have been deferred or recognized in earnings for the three and nine months ended September 30, 2011:


Realized and Unrealized Gains/(Losses) on Commodity Derivatives (a) Deferred or Recognized in Income for the Three Months Ended September 30, 2011
*(Millions of Dollars)*	Balance Sheet Location	Con Edison			CECONY
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Current	Deferred derivative gains		$ (2	)		$ (1	)
Long-term	Regulatory liabilities		1			1
Total deferred gains/(losses)			$ (1	)		$ —
Current	Deferred derivative losses		$ 12			$ 7
Current	Recoverable energy costs		(75	)		(53	)
Long-term	Regulatory assets		10			6
Total deferred gains/(losses)			$(53	)		$(40	)
Net deferred gains/(losses)			$(54	)		$(40	)
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense		$ 29	(b)		$ —
	Gas purchased for resale		6			—
	Non-utility revenue		5	(b)		—
Total pre-tax gain/(loss) recognized in income			$ 40			$ —

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

(b)	For the three months ended September 30, 2011, Con Edison recorded in non-utility revenues and purchased power expense an unrealized pre-tax gain/(loss) of $(10) million and $(1) million, respectively.


Realized and Unrealized Gains/(Losses) on Commodity Derivatives (a) Deferred or Recognized in Income for the Nine Months Ended September 30, 2011
*(Millions of Dollars)*	Balance Sheet Location	Con Edison			CECONY
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Current	Deferred derivative gains		$ —			$ —
Long-term	Regulatory liabilities		3			3
Total deferred gains/(losses)			$ 3			$ 3
Current	Deferred derivative losses		$ 80			$ 60
Current	Recoverable energy costs		(177	)		(134	)
Long-term	Regulatory assets		38			27
Total deferred gains/(losses)			$ (59	)		$ (47	)
Net deferred gains/(losses)			$ (56	)		$ (44	)
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense		$ 81	(b)		$ —
	Gas purchased for resale		17			—
	Non-utility revenue		22	(b)		—
Total pre-tax gain/(loss) recognized in income			$ 120			$ —

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

(b)	For the nine months ended September 30, 2011, Con Edison recorded in non-utility revenues and purchased power expense an unrealized pre-tax gain/(loss) of $(35) million and $59 million, respectively.

As of September 30, 2012, Con Edison had 1,289 contracts, including 628 CECONY contracts, which were considered to be derivatives under the accounting rules for derivatives and hedging (excluding qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts). The following table presents the number of contracts by commodity type:


	Electric Derivatives								Gas Derivatives
	Number of Energy Contracts (a)		MWHs (b)		Number of Capacity Contracts (a)		MW-Months (b)		Number of Contracts (a)		dths (b)		Total Number of Contracts (a)
Con Edison		576		12,807,613		78		10,019		635		86,541,700		1,289
CECONY		113		3,271,000		—		—		515		81,080,000		628

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

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

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

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

The aggregate fair value of all derivative instruments with credit-risk-related contingent features that are in a net liability position and collateral posted at September 30, 2012, and the additional collateral that would have been required to be posted had the lowest applicable credit rating been reduced one level and to below investment grade were:


*(Millions of Dollars)*	Con Edison (a)			CECONY (a)
Aggregate fair value – net liabilities		$62			$41
Collateral posted		$14			$ 9
Additional collateral (b) (downgrade one level from current ratings (c))		$ —			$ —
Additional collateral (b) (downgrade to below investment grade from current ratings (c))		$85	(d)		$45	(d)

(a)

Non-derivative transactions for the purchase and sale of electricity and gas and qualifying derivative instruments, which have been designated as normal purchases or normal sales, are excluded from the table. These transactions primarily include purchases of electricity from independent system operators. In the event the Utilities and Con Edison’s competitive energy businesses were no longer extended unsecured credit for such purchases, the Companies would be required to post collateral, which at September 30, 2012, would have amounted to an estimated $25 million for Con Edison. For certain other such non-derivative transactions, the Companies could be required to post collateral under certain circumstances, including in the event counterparties had reasonable grounds for insecurity.

(b)

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

(c)

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

(d)	Derivative instruments that are net assets have been excluded from the table. At September 30, 2012, if Con Edison had been downgraded to below investment grade, it would have been required to post additional collateral for such derivative instruments of $27 million.

Interest Rate Swap

O&R has an interest rate swap pursuant to which it pays a fixed-rate of 6.09 percent and receives a LIBOR-based variable rate. The fair value of this interest rate swap at September 30, 2012 was an unrealized loss of $6 million, which has been included in Con Edison’s consolidated balance sheet as a noncurrent liability/fair value of derivative liabilities and a regulatory asset. The increase in the fair value of the swap for the three and nine months ended September 30, 2012 was $1 million and $2 million, respectively. In the event O&R’s credit rating was downgraded to BBB- or lower by S&P or Baa3 or lower by Moody’s, the swap counterparty could elect to terminate the agreement and, if it did so, the parties would then be required to settle the transaction.

CECONY [Member]

Derivative Instruments and Hedging Activities

Note J — Derivative Instruments and Hedging Activities

Energy Price Hedging


	Con Edison						CECONY
*(Millions of Dollars)*	2012			2011			2012			2011
Fair value of net derivative assets/(liabilities) – gross		$(92	)		$(249	)		$(48	)		$(144	)
Impact of netting of cash collateral		59			110			33			46
Fair value of net derivative assets/(liabilities) – net		$(33	)		$(139	)		$(15	)		$ (98	)

Credit Exposure

Economic Hedges

The fair values of the Companies’ commodity derivatives at September 30, 2012 were:


*(Millions of Dollars)*	Fair Value of Commodity Derivatives (a) Balance Sheet Location	Con Edison			CECONY
Derivative Assets
Current	Other current assets		$ 91			$ 30
Long-term	Other deferred charges and non-current assets		19			10
Total derivative assets			$ 110			$ 40
Impact of netting			(59	)		(13	)
Net derivative assets			$ 51			$ 27


Derivative Liabilities
Current	Fair value of derivative liabilities	$ 149		$ 60
Long-term	Fair value of derivative liabilities	53		28
Total derivative liabilities		$ 202		$ 88
Impact of netting		(118	)	(46	)
Net derivative liabilities		$ 84		$ 42

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

The fair values of the Companies’ commodity derivatives at December 31, 2011 were:


*(Millions of Dollars)*	Fair Value of Commodity Derivatives (a) Balance Sheet Location	Con Edison			CECONY
Derivative Assets
Current	Other current assets		$ 139			$ 16
Long-term	Other deferred charges and non-current assets		26			14
Total derivative assets			$ 165			$ 30
Impact of netting			(95	)		(6	)
Net derivative assets			$ 70			$ 24
Derivative Liabilities
Current	Fair value of derivative liabilities		$ 331			$127
Long-term	Fair value of derivative liabilities		83			48
Total derivative liabilities			$ 414			$175
Impact of netting			(205	)		(53	)
Net derivative liabilities			$ 209			$122

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

The following tables present the changes in the fair values of commodity derivatives that have been deferred or recognized in earnings for the three and nine months ended September 30, 2012:


Realized and Unrealized Gains/(Losses) on Commodity Derivatives (a) Deferred or Recognized in Income for the Three Months Ended September 30, 2012
*(Millions of Dollars)*	Balance Sheet Location	Con Edison			CECONY
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Current	Deferred derivative gains		$ 5			$ 5
Long-term	Deferred derivative gains		1			1
Total deferred gains/(losses)			$ 6			$ 6
Current	Deferred derivative losses		$ 51			$ 42
Current	Recoverable energy costs		(60	)		(52	)
Long-term	Deferred derivative losses		22			20
Total deferred gains/(losses)			$ 13			$ 10
Net deferred gains/(losses)			$ 19			$ 16
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense		$ 9	(b)		$ —
	Gas purchased for resale		—			—
	Non-utility revenue		1	(b)		—
Total pre-tax gain/(loss) recognized in income			$ 10			$ —

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

(b)	For the three months ended September 30, 2012, Con Edison recorded in purchased power expense an unrealized pre-tax gain/(loss) of $30 million.


Realized and Unrealized Gains/(Losses) on Commodity Derivatives (a) Deferred or Recognized in Income for the Nine Months Ended September 30, 2012
*(Millions of Dollars)*	Balance Sheet Location	Con Edison			CECONY
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Current	Deferred derivative gains		$ 5			$ 5
Long-term	Deferred derivative gains		1			1
Total deferred gains/(losses)			$ 6			$ 6
Current	Deferred derivative losses		$ 89			$ 78
Current	Recoverable energy costs		(187	)		(164	)
Long-term	Deferred derivative losses		13			19
Total deferred gains/(losses)			$ (85	)		$ (67	)
Net deferred gains/(losses)			$ (79	)		$ (61	)
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense		$ (49	)(b)		$ —
	Gas purchased for resale		(2	)		—
	Non-utility revenue		(11	)(b)		—
Total pre-tax gain/(loss) recognized in income			$ (62	)		$ —

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

(b)	For the nine months ended September 30, 2012, Con Edison recorded in non-utility revenues and purchased power expense an unrealized pre-tax gain/(loss) of $(13) million and $75 million, respectively.

The following tables present the changes in the fair values of commodity derivatives that have been deferred or recognized in earnings for the three and nine months ended September 30, 2011:


Realized and Unrealized Gains/(Losses) on Commodity Derivatives (a) Deferred or Recognized in Income for the Three Months Ended September 30, 2011
*(Millions of Dollars)*	Balance Sheet Location	Con Edison			CECONY
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Current	Deferred derivative gains		$ (2	)		$ (1	)
Long-term	Regulatory liabilities		1			1
Total deferred gains/(losses)			$ (1	)		$ —
Current	Deferred derivative losses		$ 12			$ 7
Current	Recoverable energy costs		(75	)		(53	)
Long-term	Regulatory assets		10			6
Total deferred gains/(losses)			$(53	)		$(40	)
Net deferred gains/(losses)			$(54	)		$(40	)
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense		$ 29	(b)		$ —
	Gas purchased for resale		6			—
	Non-utility revenue		5	(b)		—
Total pre-tax gain/(loss) recognized in income			$ 40			$ —

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

(b)	For the three months ended September 30, 2011, Con Edison recorded in non-utility revenues and purchased power expense an unrealized pre-tax gain/(loss) of $(10) million and $(1) million, respectively.


Realized and Unrealized Gains/(Losses) on Commodity Derivatives (a) Deferred or Recognized in Income for the Nine Months Ended September 30, 2011
*(Millions of Dollars)*	Balance Sheet Location	Con Edison			CECONY
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Current	Deferred derivative gains		$ —			$ —
Long-term	Regulatory liabilities		3			3
Total deferred gains/(losses)			$ 3			$ 3
Current	Deferred derivative losses		$ 80			$ 60
Current	Recoverable energy costs		(177	)		(134	)
Long-term	Regulatory assets		38			27
Total deferred gains/(losses)			$ (59	)		$ (47	)
Net deferred gains/(losses)			$ (56	)		$ (44	)
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense		$ 81	(b)		$ —
	Gas purchased for resale		17			—
	Non-utility revenue		22	(b)		—
Total pre-tax gain/(loss) recognized in income			$ 120			$ —

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

(b)	For the nine months ended September 30, 2011, Con Edison recorded in non-utility revenues and purchased power expense an unrealized pre-tax gain/(loss) of $(35) million and $59 million, respectively.


	Electric Derivatives								Gas Derivatives
	Number of Energy Contracts (a)		MWHs (b)		Number of Capacity Contracts (a)		MW-Months (b)		Number of Contracts (a)		dths (b)		Total Number of Contracts (a)
Con Edison		576		12,807,613		78		10,019		635		86,541,700		1,289
CECONY		113		3,271,000		—		—		515		81,080,000		628

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

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


*(Millions of Dollars)*	Con Edison (a)			CECONY (a)
Aggregate fair value – net liabilities		$62			$41
Collateral posted		$14			$ 9
Additional collateral (b) (downgrade one level from current ratings (c))		$ —			$ —
Additional collateral (b) (downgrade to below investment grade from current ratings (c))		$85	(d)		$45	(d)

(a)

(b)

(c)

(d)	Derivative instruments that are net assets have been excluded from the table. At September 30, 2012, if Con Edison had been downgraded to below investment grade, it would have been required to post additional collateral for such derivative instruments of $27 million.

Interest Rate Swap

The entire disclosure for the entity's entire derivative instruments and hedging activities. Describes an entity's risk management strategies, derivatives in hedging activities and non-hedging derivative instruments, the assets, obligations, liabilities, revenues and expenses arising therefrom, and the amounts of and methodologies and assumptions used in determining the amounts of such items.

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+ Details

Fair Value Measurements

9 Months Ended

Sep. 30, 2012

Fair Value Measurements

Note K — Fair Value Measurements

The accounting rules for fair value measurements and disclosures define fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date in a principal or most advantageous market. Fair value is a market-based measurement that is determined based on inputs, which refer broadly to assumptions that market participants use in pricing assets or liabilities. These inputs can be readily observable, market corroborated, or generally unobservable firm inputs. The Companies often make certain assumptions that market participants would use in pricing the asset or liability, including assumptions about risk, and the risks inherent in the inputs to valuation techniques. The Companies use valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs.

The accounting rules for fair value measurements and disclosures established a fair value hierarchy, which prioritizes the inputs to valuation techniques used to measure fair value in three broad levels. The rules require that assets and liabilities be classified in their entirety based on the level of input that is significant to the fair value measurement. Assessing the significance of a particular input may require judgment considering factors specific to the asset or liability, and may affect the valuation of the asset or liability and their placement within the fair value hierarchy. The Companies classify fair value balances based on the fair value hierarchy defined by the accounting rules for fair value measurements and disclosures as follows:

•

Level 1 – Consists of assets or liabilities whose value is based on unadjusted quoted prices in active markets at the measurement date. An active market is one in which transactions for assets or liabilities occur with sufficient frequency and volume to provide pricing information on an ongoing basis. This category includes contracts traded on active exchange markets valued using unadjusted prices quoted directly from the exchange.

•

Level 2 – Consists of assets or liabilities valued using industry standard models and based on prices, other than quoted prices within Level 1, that are either directly or indirectly observable as of the measurement date. The industry standard models consider observable assumptions including time value, volatility factors, and current market and contractual prices for the underlying commodities, in addition to other economic measures. This category includes contracts traded on active exchanges or in over-the-counter markets priced with industry standard models.

•

Level 3 – Consists of assets or liabilities whose fair value is estimated based on internally developed models or methodologies using inputs that are generally less readily observable and supported by little, if any, market activity at the measurement date. Unobservable inputs are developed based on the best available information and subject to cost benefit constraints. This category includes contracts priced using models that are internally developed and contracts placed in illiquid markets. It also includes contracts that expire after the period of time for which quoted prices are available and internal models are used to determine a significant portion of the value.

Effective January 1, 2012, the Companies adopted Accounting Standards Update (ASU) No. 2011-04, “Fair Value Measurement (Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs.” The amendments expand existing disclosure requirements for fair value measurements and make other amendments. For fair value measurements in Level 3, this update requires the Companies to provide a description of the valuation process in place, a quantitative disclosure of unobservable inputs and assumptions used in the measurement as well as a narrative description of the sensitivity of the fair value to changes in unobservable inputs and interrelationships between those inputs. The update also requires the Companies to disclose any transfers between Levels 1 and 2 of fair value hierarchy measurements and the reasons for the transfers.

Assets and liabilities measured at fair value on a recurring basis as of September 30, 2012 are summarized below.


	Level 1					Level 2						Level 3						Netting Adjustments (4)						Total
*(Millions of Dollars)*	Con Edison			CECONY		Con Edison			CECONY			Con Edison			CECONY			Con Edison			CECONY			Con Edison			CECONY
Derivative assets:
Commodity (1)		$ 2			$ 2		$ 48			$ 16			$ 47			$ 12			$ (46	)		$ (3	)		$ 51			$ 27
Transfer in (5) (6)		—			—		24			—			—			—			—			—			24			—
Transfer out (5) (6)		—			—		—			—			(24	)		—			—			—			(24	)		—
Commodity Total		$ 2			$ 2		$ 72			$ 16			$ 23			$ 12			$ (46	)		$ (3	)		$ 51			$ 27
Other assets		103			96		—			1			105			95			—			—			208			192
Transfer in (5) (6)		—			—		105			95			—			—			—			—			105			95
Transfer out (5) (6)		—			—		—			—			(105	)		(95	)		—			—			(105	)		(95	)
Other assets (3)		$103			$96		$105			$ 96			$ —			$ —			$ —			$ —			$ 208			$192
Total		$105			$98		$177			$112			$ 23			$ 12			$ (46	)		$ (3	)		$ 259			$219
Derivative liabilities:
Commodity		$ 4			$ 1		$114			$ 68			$ 71			$ 9			$(105	)		$(36	)		$ 84			$ 42
Transfer in (5) (6)		7			7		50			12			3			3			—			—			60			22
Transfer out (5) (6)		(2	)		—		(10	)		(10	)		(48	)		(12	)		—			—			(60	)		(22	)
Commodity Total (1)		$9			$ 8		$154			$ 70			$ 26			$ —			$(105	)		$(36	)		$ 84			$ 42
Interest rate contract		—			—		(2	)		—			8			—			—			—			6			—
Transfer in (5) (6)		—			—		8			—			—			—			—			—			8			—
Transfer out (5) (6)		—			—		—			—			(8	)		—			—			—			(8	)		—
Interest rate contract (2)		$ —			$ —		$ 6			$ —			$ —			$ —			$ —			$ —			$ 6			$ —
Total		$ 9			$ 8		$160			$70			$ 26			$ —			$(105	)		$(36	)		$ 90			$ 42

(1)	A portion of the commodity derivatives categorized in Level 3 is valued using an internally developed model with observable inputs. The models also include some less readily observable inputs resulting in the classification of the entire contract as Level 3. See Note J.

(2)	See Note J.

(3)	Other assets are comprised of assets such as life insurance contracts within the deferred compensation plan and non-qualified retirement plans.

(4)	Amounts represent the impact of legally-enforceable master netting agreements that allow the Companies to net gain and loss positions and cash collateral held or placed with the same counterparties.

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

(6)	Transferred between Level 3 and Levels 1 and 2 because of reassessment of the levels in the fair value hierarchy within which certain inputs fall. Other assets and interest rate contract were transferred as of March 31, 2012.

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


	Level 1				Level 2						Level 3						Netting Adjustments (4)						Total
*(Millions of Dollars)*	Con Edison		CECONY		Con Edison			CECONY			Con Edison			CECONY			Con Edison			CECONY			Con Edison			CECONY
Derivative assets:
Commodity (1)		$ 3		$ —		$ 64			$ 8			$ 87			$ 11			$ (84	)		$ 5			$ 70			$ 24
Other assets (3)		76		76		—			—			99			90			—			—			175			166
Total		$79		$76		$ 64			$ 8			$186			$101			$ (84	)		$ 5			$ 245			$190
Derivative liabilities:
Commodity		$12		$ 4		$222			$122			$169			$ 37			$(194	)		$(41	)		$ 209			$122
Transfer in (5) (6) (7)		—		—		26			25			6			6			—			—			32			31
Transfer out (5) (6) (7)		—		—		(6	)		(6	)		(26	)		(25	)		—			—			(32	)		(31	)
Commodity (1)		$12		$ 4		$242			$141			$149			$ 18			$(194	)		$(41	)		$ 209			$122
Interest rate contract (2)		—		—		—			—			8			—			—			—			8			—
Total		$12		$ 4		$242			$141			$157			$ 18			$(194	)		$(41	)		$ 217			$122

(1)	A portion of the commodity derivatives categorized in Level 3 is valued using an internally developed model with observable inputs. The models also include some less readily observable inputs resulting in the classification of the entire contract as Level 3. See Note J.

(2)	See Note J.

(3)	Other assets are comprised of assets such as life insurance contracts within the deferred compensation plan and non-qualified retirement plans.

(4)	Amounts represent the impact of legally-enforceable master netting agreements that allow the Companies to net gain and loss positions and cash collateral held or placed with the same counterparties.

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

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

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

The employees in the risk management groups of the Utilities and the competitive energy businesses develop and maintain the Companies’ valuation policies and procedures for, and verify pricing and fair value valuation of, commodity derivatives. Under the Companies’ policies and procedures, multiple independent sources of information are obtained for forward price curves used to value commodity derivatives. Fair value and changes in fair value of commodity derivatives are reported on a monthly basis to the Companies’ risk committees, comprised of officers and employees of the Companies that oversee energy hedging at the Utilities and the competitive energy businesses. The managers of the risk management groups report to the Companies’ Vice President and Treasurer.


	Fair Value of Level 3 at September 30, 2012 *(Millions of Dollars)*			Valuation Techniques	Unobservable Inputs	Range
Con Edison—Commodity
Electricity Swaps	$	(9	)	Discounted Cash Flow	Forward prices ⁽¹⁾	$22-$64 per MWH
Electricity Wholesale Contract		4		Discounted Cash Flow	Auction prices ⁽²⁾ New Jersey solar renewable energy credit (SREC) ⁽²⁾	$29-$52 per MWH $85 per SREC
Standard Offer Capacity Agreements		(12	)	Discounted Cash Flow	Forward capacity prices ⁽¹⁾ Forward price escalator ⁽¹⁾ Present value factor ⁽¹⁾	$166 MW per day 0%-3% 1.66%
Transmission Congestion Contracts / Financial Transmission Rights		14		Discounted Cash Flow	Discount to adjust auction prices for inter-zonal forward price curves ⁽²⁾ Discount to adjust auction prices for historical monthly realized settlements ⁽²⁾ Historical line loss factor ⁽¹⁾	17.5%-38% (3)%-26.5% 8%
Total Con Edison—Commodity	$	(3	)
CECONY—Commodity
Transmission Congestion Contracts	$	12		Discounted Cash Flow	Discount to adjust auction prices for inter-zonal forward price curves ⁽²⁾ Discount to adjust auction prices for historical monthly realized settlements ⁽²⁾	17.5%-38% (3)%- 26.5%

(1)	Generally, increases/(decreases) in this input in isolation would result in a higher/(lower) fair value measurement.

(2)	Generally, increases/(decreases) in this input in isolation would result in a lower/(higher) fair value measurement.

The table listed below provides a reconciliation of the beginning and ending net balances for assets and liabilities measured at fair value for the three and nine months ended September 30, 2012 and classified as Level 3 in the fair value hierarchy:


	For the Three Months Ended September 30, 2012
				Total Gains/(Losses)— Realized and Unrealized
*(Millions of Dollars)*	Beginning Balance as of July 1, 2012			Included in Earnings			Included in Regulatory Assets and Liabilities		Purchases		Issuances		Sales		Settlements		Transfer In/Out of Level 3		Ending Balance as of September 30, 2012
Con Edison
Derivatives:
Commodity		$(61	)		$(15	)		$19		$7		$—		$—		$25		$22		$ (3	)
CECONY
Derivatives:
Commodity		$(10	)		$ (9	)		$ 8		$7		$—		$—		$ 5		$11		$ 12


	For the Nine Months Ended September 30, 2012
			Total Gains/(Losses)— Realized and Unrealized
*(Millions of Dollars)*	Beginning Balance as of January 1, 2012		Included in Earnings		Included in Regulatory Assets and Liabilities		Purchases		Issuances		Sales		Settlements		Transfer In/Out of Level 3			Ending Balance as of September 30, 2012
Con Edison
Derivatives:
Commodity		$(62)		$(97)		$11		$18		$—		$—		$106		$ 21			$ (3)
Interest rate contract		(8)		(1)		—		—		—		—		1		8(2	)		—
Other assets (1)		99		3		3		—		—		—		—		(105	)(2)		—
Total		$ 29		$(95)		$14		$18		$—		$—		$107		$ (76)			$ (3)
CECONY
Derivatives:
Commodity		$ (7)		$(25)		$ 8		$15		$—		$—		$ 12		$ 9(2	)		$ 12
Other assets (1)		90		3		2		—		—		—		—		(95	)(2)		—
Total		$ 83		$(22)		$10		$15		$—		$—		$ 12		$ (86)			$ 12

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

(2)	Other assets and interest rate contract were transferred as of March 31, 2012.

The table listed below provides a reconciliation of the beginning and ending net balances for assets and liabilities measured at fair value for the three and nine months ended September 30, 2011 and classified as Level 3 in the fair value hierarchy:


	For the Three Months Ended September 30, 2011
				Total Gains/(Losses)— Realized and Unrealized
*(Millions of Dollars)*	Beginning Balance as of July 1, 2011			Included in Earnings			Included in Regulatory Assets and Liabilities			Purchases		Issuances		Sales		Settlements		Transfer In/Out of Level 3		Ending Balance as of September 30, 2011
Con Edison
Derivatives:
Commodity		$ (25	)		$(37	)		$ 9			$8		$—		$—		$14		$24		$ (7	)
Interest rate contract		(10	)		(1	)		1			—		—		—		1		—		(9	)
Other assets (1)		106			(3	)		(3	)		—		—		—		—		—		100
Total		$ 71			$(41	)		$ 7			$8		$—		$—		$15		$24		$ 84
CECONY
Derivatives:
Commodity		$ —			$ (8	)		$ 1			$8		$—		$—		$ 3		$ 9		$ 13
Other assets (1)		96			(3	)		(2	)		—		—		—		—		—		91
Total		$ 96			$(11	)		$(1	)		$8		$—		$—		$ 3		$ 9		$ 104

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


	For the Nine Months Ended September 30, 2011
				Total Gains/(Losses)— Realized and Unrealized
*(Millions of Dollars)*	Beginning Balance as of January 1, 2011			Included in Earnings			Included in Regulatory Assets and Liabilities			Purchases		Issuances		Sales		Settlements			Transfer In/Out of Level 3		Ending Balance as of September 30, 2011
Con Edison
Derivatives:
Commodity		$ (88	)		$(59	)		$54			$22		$—		$—		$35			$29		$ (7	)
Interest rate contract		(10	)		(3	)		1			—		—		—		3			—		(9	)
Other assets (1)		101			—			(1	)		—		—		—		—			—		100
Total		$ 3			$(62	)		$54			$22		$—		$—		$38			$29		$ 84
CECONY
Derivatives:
Commodity		$ (26	)		$(11	)		$22			$18		$—		$—		$ (4	)		$14		$ 13
Other assets (1)		92			—			(1	)		—		—		—		—			—		91
Total		$ 66			$(11	)		$21			$18		$—		$—		$ (4	)		$14		$ 104

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

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

For the competitive energy businesses, realized and unrealized gains and losses on Level 3 commodity derivative assets and liabilities are reported in non-utility revenues ($2 million loss and $10 million loss) and purchased power costs ($2 million gain and $12 million loss) on the consolidated income statement for the three months ended September 30, 2012 and 2011, respectively. Realized and unrealized gains and losses on Level 3 commodity derivative assets and liabilities are reported in non-utility revenues ($11 million loss and $35 million loss), and purchased power costs ($42 million loss and $6 million gain) on the consolidated income statement for the nine months ended September 30, 2012 and 2011, respectively. The change in fair value relating to Level 3 commodity derivative assets held at September 30, 2012 and 2011 is included in non-utility revenues ($2 million loss and $10 million loss), and purchased power costs ($16 million gain and $5 million loss) on the consolidated income statement for the three months ended September 30, 2012 and 2011, respectively. For the nine months ended September 30, 2012 and 2011, the change in fair value relating to Level 3 commodity derivative assets and liabilities included in non-utility revenues ($11 million loss and $35 million loss), and purchased power costs ($40 million gain and $31 million gain) on the consolidated income statement, respectively.

The accounting rules for fair value measurements and disclosures require consideration of the impact of nonperformance risk (including credit risk) from a market participant perspective in the measurement of the fair value of assets and liabilities. At September 30, 2012, the Companies determined that nonperformance risk would have no material impact on their financial position or results of operations. To assess nonperformance risk, the Companies considered information such as collateral requirements, master netting arrangements, letters of credit and parent company guarantees, and applied a market-based method by using the counterparty (for an asset) or the Companies’ (for a liability) credit default swaps rates.

CECONY [Member]

Fair Value Measurements

Note K — Fair Value Measurements

•

Assets and liabilities measured at fair value on a recurring basis as of September 30, 2012 are summarized below.


	Level 1					Level 2						Level 3						Netting Adjustments (4)						Total
*(Millions of Dollars)*	Con Edison			CECONY		Con Edison			CECONY			Con Edison			CECONY			Con Edison			CECONY			Con Edison			CECONY
Derivative assets:
Commodity (1)		$ 2			$ 2		$ 48			$ 16			$ 47			$ 12			$ (46	)		$ (3	)		$ 51			$ 27
Transfer in (5) (6)		—			—		24			—			—			—			—			—			24			—
Transfer out (5) (6)		—			—		—			—			(24	)		—			—			—			(24	)		—
Commodity Total		$ 2			$ 2		$ 72			$ 16			$ 23			$ 12			$ (46	)		$ (3	)		$ 51			$ 27
Other assets		103			96		—			1			105			95			—			—			208			192
Transfer in (5) (6)		—			—		105			95			—			—			—			—			105			95
Transfer out (5) (6)		—			—		—			—			(105	)		(95	)		—			—			(105	)		(95	)
Other assets (3)		$103			$96		$105			$ 96			$ —			$ —			$ —			$ —			$ 208			$192
Total		$105			$98		$177			$112			$ 23			$ 12			$ (46	)		$ (3	)		$ 259			$219
Derivative liabilities:
Commodity		$ 4			$ 1		$114			$ 68			$ 71			$ 9			$(105	)		$(36	)		$ 84			$ 42
Transfer in (5) (6)		7			7		50			12			3			3			—			—			60			22
Transfer out (5) (6)		(2	)		—		(10	)		(10	)		(48	)		(12	)		—			—			(60	)		(22	)
Commodity Total (1)		$9			$ 8		$154			$ 70			$ 26			$ —			$(105	)		$(36	)		$ 84			$ 42
Interest rate contract		—			—		(2	)		—			8			—			—			—			6			—
Transfer in (5) (6)		—			—		8			—			—			—			—			—			8			—
Transfer out (5) (6)		—			—		—			—			(8	)		—			—			—			(8	)		—
Interest rate contract (2)		$ —			$ —		$ 6			$ —			$ —			$ —			$ —			$ —			$ 6			$ —
Total		$ 9			$ 8		$160			$70			$ 26			$ —			$(105	)		$(36	)		$ 90			$ 42

(1)	A portion of the commodity derivatives categorized in Level 3 is valued using an internally developed model with observable inputs. The models also include some less readily observable inputs resulting in the classification of the entire contract as Level 3. See Note J.

(2)	See Note J.

(3)	Other assets are comprised of assets such as life insurance contracts within the deferred compensation plan and non-qualified retirement plans.

(4)	Amounts represent the impact of legally-enforceable master netting agreements that allow the Companies to net gain and loss positions and cash collateral held or placed with the same counterparties.

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

(6)	Transferred between Level 3 and Levels 1 and 2 because of reassessment of the levels in the fair value hierarchy within which certain inputs fall. Other assets and interest rate contract were transferred as of March 31, 2012.

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


	Level 1				Level 2						Level 3						Netting Adjustments (4)						Total
*(Millions of Dollars)*	Con Edison		CECONY		Con Edison			CECONY			Con Edison			CECONY			Con Edison			CECONY			Con Edison			CECONY
Derivative assets:
Commodity (1)		$ 3		$ —		$ 64			$ 8			$ 87			$ 11			$ (84	)		$ 5			$ 70			$ 24
Other assets (3)		76		76		—			—			99			90			—			—			175			166
Total		$79		$76		$ 64			$ 8			$186			$101			$ (84	)		$ 5			$ 245			$190
Derivative liabilities:
Commodity		$12		$ 4		$222			$122			$169			$ 37			$(194	)		$(41	)		$ 209			$122
Transfer in (5) (6) (7)		—		—		26			25			6			6			—			—			32			31
Transfer out (5) (6) (7)		—		—		(6	)		(6	)		(26	)		(25	)		—			—			(32	)		(31	)
Commodity (1)		$12		$ 4		$242			$141			$149			$ 18			$(194	)		$(41	)		$ 209			$122
Interest rate contract (2)		—		—		—			—			8			—			—			—			8			—
Total		$12		$ 4		$242			$141			$157			$ 18			$(194	)		$(41	)		$ 217			$122

(1)	A portion of the commodity derivatives categorized in Level 3 is valued using an internally developed model with observable inputs. The models also include some less readily observable inputs resulting in the classification of the entire contract as Level 3. See Note J.

(2)	See Note J.

(3)	Other assets are comprised of assets such as life insurance contracts within the deferred compensation plan and non-qualified retirement plans.

(4)	Amounts represent the impact of legally-enforceable master netting agreements that allow the Companies to net gain and loss positions and cash collateral held or placed with the same counterparties.

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

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

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


	Fair Value of Level 3 at September 30, 2012 *(Millions of Dollars)*			Valuation Techniques	Unobservable Inputs	Range
Con Edison—Commodity
Electricity Swaps	$	(9	)	Discounted Cash Flow	Forward prices ⁽¹⁾	$22-$64 per MWH
Electricity Wholesale Contract		4		Discounted Cash Flow	Auction prices ⁽²⁾ New Jersey solar renewable energy credit (SREC) ⁽²⁾	$29-$52 per MWH $85 per SREC
Standard Offer Capacity Agreements		(12	)	Discounted Cash Flow	Forward capacity prices ⁽¹⁾ Forward price escalator ⁽¹⁾ Present value factor ⁽¹⁾	$166 MW per day 0%-3% 1.66%
Transmission Congestion Contracts / Financial Transmission Rights		14		Discounted Cash Flow	Discount to adjust auction prices for inter-zonal forward price curves ⁽²⁾ Discount to adjust auction prices for historical monthly realized settlements ⁽²⁾ Historical line loss factor ⁽¹⁾	17.5%-38% (3)%-26.5% 8%
Total Con Edison—Commodity	$	(3	)
CECONY—Commodity
Transmission Congestion Contracts	$	12		Discounted Cash Flow	Discount to adjust auction prices for inter-zonal forward price curves ⁽²⁾ Discount to adjust auction prices for historical monthly realized settlements ⁽²⁾	17.5%-38% (3)%- 26.5%

(1)	Generally, increases/(decreases) in this input in isolation would result in a higher/(lower) fair value measurement.

(2)	Generally, increases/(decreases) in this input in isolation would result in a lower/(higher) fair value measurement.


	For the Three Months Ended September 30, 2012
				Total Gains/(Losses)— Realized and Unrealized
*(Millions of Dollars)*	Beginning Balance as of July 1, 2012			Included in Earnings			Included in Regulatory Assets and Liabilities		Purchases		Issuances		Sales		Settlements		Transfer In/Out of Level 3		Ending Balance as of September 30, 2012
Con Edison
Derivatives:
Commodity		$(61	)		$(15	)		$19		$7		$—		$—		$25		$22		$ (3	)
CECONY
Derivatives:
Commodity		$(10	)		$ (9	)		$ 8		$7		$—		$—		$ 5		$11		$ 12


	For the Nine Months Ended September 30, 2012
			Total Gains/(Losses)— Realized and Unrealized
*(Millions of Dollars)*	Beginning Balance as of January 1, 2012		Included in Earnings		Included in Regulatory Assets and Liabilities		Purchases		Issuances		Sales		Settlements		Transfer In/Out of Level 3			Ending Balance as of September 30, 2012
Con Edison
Derivatives:
Commodity		$(62)		$(97)		$11		$18		$—		$—		$106		$ 21			$ (3)
Interest rate contract		(8)		(1)		—		—		—		—		1		8(2	)		—
Other assets (1)		99		3		3		—		—		—		—		(105	)(2)		—
Total		$ 29		$(95)		$14		$18		$—		$—		$107		$ (76)			$ (3)
CECONY
Derivatives:
Commodity		$ (7)		$(25)		$ 8		$15		$—		$—		$ 12		$ 9(2	)		$ 12
Other assets (1)		90		3		2		—		—		—		—		(95	)(2)		—
Total		$ 83		$(22)		$10		$15		$—		$—		$ 12		$ (86)			$ 12

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

(2)	Other assets and interest rate contract were transferred as of March 31, 2012.

The table listed below provides a reconciliation of the beginning and ending net balances for assets and liabilities measured at fair value for the three and nine months ended September 30, 2011 and classified as Level 3 in the fair value hierarchy:


	For the Three Months Ended September 30, 2011
				Total Gains/(Losses)— Realized and Unrealized
*(Millions of Dollars)*	Beginning Balance as of July 1, 2011			Included in Earnings			Included in Regulatory Assets and Liabilities			Purchases		Issuances		Sales		Settlements		Transfer In/Out of Level 3		Ending Balance as of September 30, 2011
Con Edison
Derivatives:
Commodity		$ (25	)		$(37	)		$ 9			$8		$—		$—		$14		$24		$ (7	)
Interest rate contract		(10	)		(1	)		1			—		—		—		1		—		(9	)
Other assets (1)		106			(3	)		(3	)		—		—		—		—		—		100
Total		$ 71			$(41	)		$ 7			$8		$—		$—		$15		$24		$ 84
CECONY
Derivatives:
Commodity		$ —			$ (8	)		$ 1			$8		$—		$—		$ 3		$ 9		$ 13
Other assets (1)		96			(3	)		(2	)		—		—		—		—		—		91
Total		$ 96			$(11	)		$(1	)		$8		$—		$—		$ 3		$ 9		$ 104

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


	For the Nine Months Ended September 30, 2011
				Total Gains/(Losses)— Realized and Unrealized
*(Millions of Dollars)*	Beginning Balance as of January 1, 2011			Included in Earnings			Included in Regulatory Assets and Liabilities			Purchases		Issuances		Sales		Settlements			Transfer In/Out of Level 3		Ending Balance as of September 30, 2011
Con Edison
Derivatives:
Commodity		$ (88	)		$(59	)		$54			$22		$—		$—		$35			$29		$ (7	)
Interest rate contract		(10	)		(3	)		1			—		—		—		3			—		(9	)
Other assets (1)		101			—			(1	)		—		—		—		—			—		100
Total		$ 3			$(62	)		$54			$22		$—		$—		$38			$29		$ 84
CECONY
Derivatives:
Commodity		$ (26	)		$(11	)		$22			$18		$—		$—		$ (4	)		$14		$ 13
Other assets (1)		92			—			(1	)		—		—		—		—			—		91
Total		$ 66			$(11	)		$21			$18		$—		$—		$ (4	)		$14		$ 104

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

The entire disclosure of the fair value measurement of assets and liabilities, which includes financial instruments measured at fair value that are classified in shareholders' equity, which may be measured on a recurring or nonrecurring basis.

Earnings Per Common Share

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 33

-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 157

-Paragraph 32

-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 107

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19279-110258

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19190-110258

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 6

-Footnote 4

-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

Hurricane Sandy	9 Months Ended
Hurricane Sandy	Sep. 30, 2012
Hurricane Sandy	Note L — Hurricane Sandy In late October 2012, Hurricane Sandy caused extensive damage to the Utilities’ electric distribution system and interrupted service to approximately 950,000 CECONY customers and approximately 250,000 O&R customers. Hurricane Sandy also damaged CECONY’s steam system and interrupted service to many of its steam customers. To restore service to their customers and repair their energy systems, the Utilities are incurring substantial operating costs and making substantial capital expenditures, the amount of which the Utilities are unable to estimate at this time. The Utilities' rate plans provide for operating costs and capital expenditures under different provisions. The Utilities expect that most of their operating expenses attributable to Hurricane Sandy will be deferred for recovery as a regulatory asset under their electric rate plans. The Utilities’ capital expenditures, up to specified levels, are reflected in rates under their rate plans. In addition, CECONY's rate plans, provide that it may request in its next base rate filings to recover additional capital expenditures (provided the company can justify the need for and reasonableness of, and its inability to reasonably avoid, such additional capital expenditures). Under its New York electric rate plan and subject to certain limitations, O&R defers as a regulatory asset the revenue requirement impact of the amount by which actual average net utility plant is different than the average net utility plant reflected in rates. Under the New York rate plans, the Utilities also may petition the NYSPSC for authorization to defer extraordinary expenditures not otherwise addressed in their rate plans. The Utilities’ New York electric rate plans include provisions for revenue decoupling, as a result of which delivery revenues generally are not affected by changes in delivery volumes from levels assumed when rates were approved. The provisions of the Utilities' New York electric plans that impose penalties for operating performance provide for exceptions for major storms and catastrophic events beyond the control of the companies, including natural disasters such as hurricanes and floods. The Utilities expect the NYSPSC to investigate the preparation and performance of New York utilities in connection with Hurricane Sandy.
CECONY [Member]
Hurricane Sandy	Note L — Hurricane Sandy In late October 2012, Hurricane Sandy caused extensive damage to the Utilities’ electric distribution system and interrupted service to approximately 950,000 CECONY customers and approximately 250,000 O&R customers. Hurricane Sandy also damaged CECONY’s steam system and interrupted service to many of its steam customers. To restore service to their customers and repair their energy systems, the Utilities are incurring substantial operating costs and making substantial capital expenditures, the amount of which the Utilities are unable to estimate at this time. The Utilities' rate plans provide for operating costs and capital expenditures under different provisions. The Utilities expect that most of their operating expenses attributable to Hurricane Sandy will be deferred for recovery as a regulatory asset under their electric rate plans. The Utilities’ capital expenditures, up to specified levels, are reflected in rates under their rate plans. In addition, CECONY's rate plans, provide that it may request in its next base rate filings to recover additional capital expenditures (provided the company can justify the need for and reasonableness of, and its inability to reasonably avoid, such additional capital expenditures). Under its New York electric rate plan and subject to certain limitations, O&R defers as a regulatory asset the revenue requirement impact of the amount by which actual average net utility plant is different than the average net utility plant reflected in rates. Under the New York rate plans, the Utilities also may petition the NYSPSC for authorization to defer extraordinary expenditures not otherwise addressed in their rate plans. The Utilities’ New York electric rate plans include provisions for revenue decoupling, as a result of which delivery revenues generally are not affected by changes in delivery volumes from levels assumed when rates were approved. The provisions of the Utilities' New York electric plans that impose penalties for operating performance provide for exceptions for major storms and catastrophic events beyond the control of the companies, including natural disasters such as hurricanes and floods. The Utilities expect the NYSPSC to investigate the preparation and performance of New York utilities in connection with Hurricane Sandy.

Summary of Significant Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2012

Earnings Per Common Share

For the three and nine months ended September 30, 2012 and 2011, basic and diluted EPS for Con Edison are calculated as follows:


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
*(Millions of Dollars, except per share amounts/Shares in Millions)*	2012		2011		2012		2011
Net income for common stock		$ 440		$ 383		$ 931		$ 860
Weighted average common shares outstanding – basic		292.9		292.9		292.9		292.5
Add: Incremental shares attributable to effect of potentially dilutive securities		1.7		1.7		1.7		1.7
Adjusted weighted average common shares outstanding – diluted		294.6		294.6		294.6		294.2
Net income for common stock per common share – basic		$ 1.50		$ 1.31		$ 3.18		$ 2.94
Net income for common stock per common share – diluted		$ 1.49		$ 1.30		$ 3.16		$ 2.92

Earnings Per Common Share

Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements.

+ References+ Details

Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2012

For the three and nine months ended September 30, 2012 and 2011, basic and diluted EPS for Con Edison are calculated as follows:


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
*(Millions of Dollars, except per share amounts/Shares in Millions)*	2012		2011		2012		2011
Net income for common stock		$ 440		$ 383		$ 931		$ 860
Weighted average common shares outstanding – basic		292.9		292.9		292.9		292.5
Add: Incremental shares attributable to effect of potentially dilutive securities		1.7		1.7		1.7		1.7
Adjusted weighted average common shares outstanding – diluted		294.6		294.6		294.6		294.2
Net income for common stock per common share – basic		$ 1.50		$ 1.31		$ 3.18		$ 2.94
Net income for common stock per common share – diluted		$ 1.49		$ 1.30		$ 3.16		$ 2.92

Regulatory Assets and Liabilities

Tabular disclosure of the effect of income (loss) on an entity's diluted earnings per share.

+ References+ Details

Regulatory Matters (Tables)

9 Months Ended

Sep. 30, 2012

Regulatory assets and liabilities at September 30, 2012 and December 31, 2011 were comprised of the following items:


	Con Edison				CECONY
*(Millions of Dollars)*	2012		2011		2012		2011
Regulatory assets
Unrecognized pension and other postretirement costs		$5,211		$5,852		$4,972		$5,554
Future income tax		1,888		1,798		1,810		1,724
Environmental remediation costs		722		681		607		564
Pension and other post retirement benefits deferrals		205		198		174		157
Revenue taxes		177		163		171		158
Surcharge for New York State assessment		135		90		125		82
Deferred storm costs		120		128		78		80
Net electric deferrals		107		121		107		121
Deferred derivative losses – long-term		47		60		25		44
O&R transition bond charges		40		44		—		—
Preferred stock redemption		29		—		29		—
Workers’ compensation		19		23		19		23
Property tax reconciliation		15		13		—		—
Recoverable energy costs – long-term		1		14		1		14
Other		181		152		167		140
Regulatory assets – long-term		8,897		9,337		8,285		8,661
Deferred derivative losses – current		75		164		62		140
Recoverable energy costs – current		2		—		—		—
Regulatory assets – current		77		164		62		140
Total Regulatory Assets		$8,974		$9,501		$8,347		$8,801
Regulatory liabilities
Allowance for cost of removal less salvage		$ 488		$ 448		$ 407		$ 372
Property tax reconciliation		137		35		137		35
Net unbilled revenue deferrals		121		104		121		104
World Trade Center settlement proceeds		62		62		62		62
Long-term interest rate reconciliation		54		30		54		30
Carrying charges on transmission and distribution net plant		36		38		16		14
Expenditure prudence proceeding		15		11		15		11
Gas line losses		14		21		14		21
Energy efficiency programs		5		22		5		20
Other		170		206		147		192
Regulatory liabilities – long-term		1,102		977		978		861
Revenue decoupling mechanism		107		66		103		66
Electric surcharge offset		60		—		60		—
Refundable energy costs – current		58		51		30		12
Deferred derivative gains – current		6		1		6		1
Regulatory liabilities – current		231		118		199		79
Total Regulatory Liabilities		$1,333		$1,095		$1,177		$ 940

Capitalization (Tables)

9 Months Ended

Sep. 30, 2012

Carrying Amounts and Fair Values of Long-term Debt

The carrying amounts and fair values of long-term debt are:


*(Millions of Dollars)*	September 30, 2012				December 31, 2011
Long-Term Debt (including current portion)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Con Edison		$10,769		$13,197		$10,673		$12,744
CECONY		$ 9,845		$12,001		$ 9,745		$11,593

Pension Benefits (Tables)

9 Months Ended

Sep. 30, 2012

Companies' Net Periodic Benefit Costs

The components of the Companies’ net periodic benefit costs for the three and nine months ended September 30, 2012 and 2011 were as follows:


	For the Three Months Ended September 30,
	Con Edison						CECONY
*(Millions of Dollars)*	2012			2011			2012			2011
Service cost – including administrative expenses		$ 59			$ 48			$ 55			$ 45
Interest cost on projected benefit obligation		137			140			128			131
Expected return on plan assets		(176	)		(184	)		(168	)		(174	)
Amortization of net actuarial loss		177			133			168			126
Amortization of prior service costs		2			2			2			—
NET PERIODIC BENEFIT COST		$ 199			$ 139			$ 185			$ 128
Cost capitalized		(64	)		(45	)		(60	)		(42	)
Reconciliation to rate level		—			(11	)		(1	)		(11	)
Cost charged to operating expenses		$ 135			$ 83			$ 124			$ 75


	For the Nine Months Ended September 30,
	Con Edison						CECONY
*(Millions of Dollars)*	2012			2011			2012			2011
Service cost – including administrative expenses		$ 177			$ 142			$ 165			$ 133
Interest cost on projected benefit obligation		410			420			385			393
Expected return on plan assets		(528	)		(550	)		(503	)		(524	)
Amortization of net actuarial loss		531			397			503			376
Amortization of prior service costs		6			6			4			4
NET PERIODIC BENEFIT COST		$ 596			$ 415			$ 554			$ 382
Amortization of regulatory asset		1			1			1			1
TOTAL PERIODIC BENEFIT COST		$ 597			$ 416			$ 555			$ 383
Cost capitalized		(200	)		(141	)		(186	)		(131	)
Reconciliation to rate level		(37	)		(68	)		(36	)		(70	)
Cost charged to operating expenses		$ 360			$ 207			$ 333			$ 182

Other Postretirement Benefits (Tables)

9 Months Ended

Sep. 30, 2012

Net Periodic Postretirement Benefit Costs

The components of the Companies’ net periodic postretirement benefit costs for the three and nine months ended September 30, 2012 and 2011 were as follows:


	For the Three Months Ended September 30,
	Con Edison						CECONY
*(Millions of Dollars)*	2012			2011			2012			2011
Service cost		$ 6			$ 7			$ 5			$ 5
Interest cost on accumulated other postretirement benefit obligation		18			20			16			18
Expected return on plan assets		(21	)		(22	)		(19	)		(21	)
Amortization of net actuarial loss		24			22			22			20
Amortization of prior service cost		(5	)		(3	)		(4	)		(3	)
Amortization of transition obligation		—			1			—			1
NET PERIODIC POSTRETIREMENT BENEFIT COST		$ 22			$ 25			$ 20			$ 20
Cost capitalized		(8	)		(9	)		(7	)		(7	)
Reconciliation to rate level		3			3			3			3
Cost charged to operating expenses		$ 17			$ 19			$ 16			$ 16


	For the Nine Months Ended September 30,
	Con Edison						CECONY
*(Millions of Dollars)*	2012			2011			2012			2011
Service cost		$ 20			$ 19			$ 15			$ 15
Interest cost on accumulated other postretirement benefit obligation		55			62			48			54
Expected return on plan assets		(64	)		(66	)		(56	)		(59	)
Amortization of net actuarial loss		73			66			65			60
Amortization of prior service cost		(16	)		(7	)		(13	)		(9	)
Amortization of transition obligation		1			3			1			3
NET PERIODIC POSTRETIREMENT BENEFIT COST		$ 69			$ 77			$ 60			$ 64
Cost capitalized		(24	)		(27	)		(20	)		(22	)
Reconciliation to rate level		15			12			12			10
Cost charged to operating expenses		$ 60			$ 62			$ 52			$ 52

Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans.

Accrued Liabilities and Regulatory Assets

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-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 132R

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-Publisher FASB

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-Publisher FASB

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+ Details

Environmental Matters (Tables)

9 Months Ended

Sep. 30, 2012

The accrued liabilities and regulatory assets related to Superfund Sites at September 30, 2012 and December 31, 2011 were as follows:


	Con Edison				CECONY
*(Millions of Dollars)*	2012		2011		2012		2011
Accrued Liabilities:
Manufactured gas plant sites		$466		$422		$352		$307
Other Superfund Sites		71		67		71		66
Total		$537		$489		$423		$373
Regulatory assets		$722		$681		$607		$564

Environmental Remediation Costs

Environmental remediation costs incurred and insurance recoveries received related to Superfund Sites for the three and nine months ended September 30, 2012 and 2011, were as follows:


	For the Three Months Ended September 30,
	Con Edison				CECONY
*(Millions of Dollars)*	2012		2011		2012		2011
Remediation costs incurred		$3		$9		$1		$9
Insurance recoveries received		—		—		—		—


	For the Nine Months Ended September 30,
	Con Edison				CECONY
*(Millions of Dollars)*	2012		2011		2012		2011
Remediation costs incurred		$18		$24		$15		$22
Insurance recoveries received		—		—		—		—

Accrued Liability for Asbestos Suits and Workers' Compensation Proceedings

The accrued liability for asbestos suits and workers’ compensation proceedings (including those related to asbestos exposure) and the amounts deferred as regulatory assets for the Companies at September 30, 2012 and December 31, 2011 were as follows:


	Con Edison				CECONY
*(Millions of Dollars)*	2012		2011		2012		2011
Accrued liability – asbestos suits		$10		$10		$10		$10
Regulatory assets – asbestos suits		$10		$10		$10		$10
Accrued liability – workers’ compensation		$94		$98		$89		$93
Regulatory assets – workers’ compensation		$19		$23		$19		$23

Other Material Contingencies (Tables)

9 Months Ended

Sep. 30, 2012

Total Guarantees

A summary, by type and term, of Con Edison’s total guarantees at September 30, 2012 is as follows:


Guarantee Type	0 – 3 years		4 – 10 years		> 10 years		Total
	*(Millions of Dollars)*
Energy transactions		$696		$2		$66		$764
Intra-company guarantees		15		—		1		16
Other guarantees		38		5		—		43
TOTAL		$749		$7		$67		$823

Financial Data for the Business Segments

Tabular disclosure of each guarantee obligation, or each group of similar guarantee obligations, including (a) the nature of the guarantee, including its term, how it arose, and the events or circumstances that would require the guarantor to perform under the guarantee; (b) the maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee; (c) the current carrying amount of the liability, if any, for the guarantor's obligations under the guarantee; and (d) the nature of any recourse provisions under the guarantee, and any assets held either as collateral or by third parties, and any relevant related party disclosure. Excludes disclosures about product warranties.

+ References+ Details

Financial Information by Business Segment (Tables)

9 Months Ended

Sep. 30, 2012

The financial data for the business segments are as follows:


	For the Three Months Ended September 30,
	Operating revenues					Inter-segment revenues						Depreciation and amortization				Operating income
*(Millions of Dollars)*	2012		2011			2012			2011			2012		2011		2012			2011
CECONY
Electric		$2,611		$2,644			$ 4			$ 3			$179		$166		$812			$758
Gas		189		197			1			1			31		28		(21	)		(23	)
Steam		68		76			20			20			15		15		(37	)		(33	)
Consolidation adjustments		—		—			(25	)		(24	)		—		—		—			—
Total CECONY		$2,868		$2,917			$ —			$ —			$225		$209		$754			$702
O&R
Electric		$ 199		$ 217			$ —			$ —			$ 10		$ 9		$ 50			$ 44
Gas		27		24			—			—			3		3		(6	)		(6	)
Total O&R		$ 226		$ 241			$ —			$ —			$ 13		$ 12		$ 44			$ 38
Competitive energy businesses		$ 344		$ 472			$ 2			$ 3			$ 2		$ 1		$ 53			$ 16
Other*		—		(1	)		(2	)		(3	)		—		—		—			—
Total Con Edison		$3,438		$3,629			$ —			$ —			$240		$222		$851			$756

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


	For the Nine Months Ended September 30,
	Operating revenues						Inter-segment revenues						Depreciation and amortization				Operating income
*(Millions of Dollars)*	2012			2011			2012			2011			2012		2011		2012			2011
CECONY
Electric		$6,307			$6,378			$ 11			$ 9			$527		$489		$1,383			$1,326
Gas		1,017			1,156			4			4			89		82		255			212
Steam		414			508			58			59			48		47		40			81
Consolidation adjustments		—			—			(73	)		(72	)		—		—		—			—
Total CECONY		$7,738			$8,042			$ —			$ —			$664		$618		$1,678			$1,619
O&R
Electric		$ 457			$ 507			$ —			$ —			$ 28		$ 26		$ 74			$ 69
Gas		144			153			—			—			11		10		26			22
Total O&R		$ 601			$ 660			$ —			$ —			$ 39		$ 36		$ 100			$ 91
Competitive energy businesses		$ 954			$1,286			$ 6			$ 9			$ 6		$ 5		$ 111			$ 75
Other*		(6	)		(16	)		(6	)		(9	)		—		—		(3	)		(4	)
Total Con Edison		$9,287			$9,972			$ —			$ —			$709		$659		$1,886			$1,781

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

Energy Price Hedging Fair Values

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References+ Details

Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2012

The fair values of the Companies’ commodity derivatives at September 30, 2012 and December 31, 2011 were as follows:


	Con Edison						CECONY
*(Millions of Dollars)*	2012			2011			2012			2011
Fair value of net derivative assets/(liabilities) – gross		$(92	)		$(249	)		$(48	)		$(144	)
Impact of netting of cash collateral		59			110			33			46
Fair value of net derivative assets/(liabilities) – net		$(33	)		$(139	)		$(15	)		$ (98	)

Fair Values Of Companies' Commodity Derivatives

The fair values of the Companies’ commodity derivatives at September 30, 2012 were:


*(Millions of Dollars)*	Fair Value of Commodity Derivatives (a) Balance Sheet Location	Con Edison			CECONY
Derivative Assets
Current	Other current assets		$ 91			$ 30
Long-term	Other deferred charges and non-current assets		19			10
Total derivative assets			$ 110			$ 40
Impact of netting			(59	)		(13	)
Net derivative assets			$ 51			$ 27


Derivative Liabilities
Current	Fair value of derivative liabilities	$ 149		$ 60
Long-term	Fair value of derivative liabilities	53		28
Total derivative liabilities		$ 202		$ 88
Impact of netting		(118	)	(46	)
Net derivative liabilities		$ 84		$ 42

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

The fair values of the Companies’ commodity derivatives at December 31, 2011 were:


*(Millions of Dollars)*	Fair Value of Commodity Derivatives (a) Balance Sheet Location	Con Edison			CECONY
Derivative Assets
Current	Other current assets		$ 139			$ 16
Long-term	Other deferred charges and non-current assets		26			14
Total derivative assets			$ 165			$ 30
Impact of netting			(95	)		(6	)
Net derivative assets			$ 70			$ 24
Derivative Liabilities
Current	Fair value of derivative liabilities		$ 331			$127
Long-term	Fair value of derivative liabilities		83			48
Total derivative liabilities			$ 414			$175
Impact of netting			(205	)		(53	)
Net derivative liabilities			$ 209			$122

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

Changes In Fair Values Of Commodity Derivatives

The following tables present the changes in the fair values of commodity derivatives that have been deferred or recognized in earnings for the three and nine months ended September 30, 2012:


Realized and Unrealized Gains/(Losses) on Commodity Derivatives (a) Deferred or Recognized in Income for the Three Months Ended September 30, 2012
*(Millions of Dollars)*	Balance Sheet Location	Con Edison			CECONY
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Current	Deferred derivative gains		$ 5			$ 5
Long-term	Deferred derivative gains		1			1
Total deferred gains/(losses)			$ 6			$ 6
Current	Deferred derivative losses		$ 51			$ 42
Current	Recoverable energy costs		(60	)		(52	)
Long-term	Deferred derivative losses		22			20
Total deferred gains/(losses)			$ 13			$ 10
Net deferred gains/(losses)			$ 19			$ 16
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense		$ 9	(b)		$ —
	Gas purchased for resale		—			—
	Non-utility revenue		1	(b)		—
Total pre-tax gain/(loss) recognized in income			$ 10			$ —

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

(b)	For the three months ended September 30, 2012, Con Edison recorded in purchased power expense an unrealized pre-tax gain/(loss) of $30 million.


Realized and Unrealized Gains/(Losses) on Commodity Derivatives (a) Deferred or Recognized in Income for the Nine Months Ended September 30, 2012
*(Millions of Dollars)*	Balance Sheet Location	Con Edison			CECONY
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Current	Deferred derivative gains		$ 5			$ 5
Long-term	Deferred derivative gains		1			1
Total deferred gains/(losses)			$ 6			$ 6
Current	Deferred derivative losses		$ 89			$ 78
Current	Recoverable energy costs		(187	)		(164	)
Long-term	Deferred derivative losses		13			19
Total deferred gains/(losses)			$ (85	)		$ (67	)
Net deferred gains/(losses)			$ (79	)		$ (61	)
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense		$ (49	)(b)		$ —
	Gas purchased for resale		(2	)		—
	Non-utility revenue		(11	)(b)		—
Total pre-tax gain/(loss) recognized in income			$ (62	)		$ —

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

(b)	For the nine months ended September 30, 2012, Con Edison recorded in non-utility revenues and purchased power expense an unrealized pre-tax gain/(loss) of $(13) million and $75 million, respectively.

The following tables present the changes in the fair values of commodity derivatives that have been deferred or recognized in earnings for the three and nine months ended September 30, 2011:


Realized and Unrealized Gains/(Losses) on Commodity Derivatives (a) Deferred or Recognized in Income for the Three Months Ended September 30, 2011
*(Millions of Dollars)*	Balance Sheet Location	Con Edison			CECONY
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Current	Deferred derivative gains		$ (2	)		$ (1	)
Long-term	Regulatory liabilities		1			1
Total deferred gains/(losses)			$ (1	)		$ —
Current	Deferred derivative losses		$ 12			$ 7
Current	Recoverable energy costs		(75	)		(53	)
Long-term	Regulatory assets		10			6
Total deferred gains/(losses)			$(53	)		$(40	)
Net deferred gains/(losses)			$(54	)		$(40	)
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense		$ 29	(b)		$ —
	Gas purchased for resale		6			—
	Non-utility revenue		5	(b)		—
Total pre-tax gain/(loss) recognized in income			$ 40			$ —

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

(b)	For the three months ended September 30, 2011, Con Edison recorded in non-utility revenues and purchased power expense an unrealized pre-tax gain/(loss) of $(10) million and $(1) million, respectively.


Realized and Unrealized Gains/(Losses) on Commodity Derivatives (a) Deferred or Recognized in Income for the Nine Months Ended September 30, 2011
*(Millions of Dollars)*	Balance Sheet Location	Con Edison			CECONY
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Current	Deferred derivative gains		$ —			$ —
Long-term	Regulatory liabilities		3			3
Total deferred gains/(losses)			$ 3			$ 3
Current	Deferred derivative losses		$ 80			$ 60
Current	Recoverable energy costs		(177	)		(134	)
Long-term	Regulatory assets		38			27
Total deferred gains/(losses)			$ (59	)		$ (47	)
Net deferred gains/(losses)			$ (56	)		$ (44	)
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense		$ 81	(b)		$ —
	Gas purchased for resale		17			—
	Non-utility revenue		22	(b)		—
Total pre-tax gain/(loss) recognized in income			$ 120			$ —

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

(b)	For the nine months ended September 30, 2011, Con Edison recorded in non-utility revenues and purchased power expense an unrealized pre-tax gain/(loss) of $(35) million and $59 million, respectively.

Number Of Derivative Contracts By Commodity Type

The following table presents the number of contracts by commodity type:


	Electric Derivatives								Gas Derivatives
	Number of Energy Contracts (a)		MWHs (b)		Number of Capacity Contracts (a)		MW-Months (b)		Number of Contracts (a)		dths (b)		Total Number of Contracts (a)
Con Edison		576		12,807,613		78		10,019		635		86,541,700		1,289
CECONY		113		3,271,000		—		—		515		81,080,000		628

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

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

Aggregate Fair Value Of All Derivative Instruments With Credit-Risk-Related Contingent Features


*(Millions of Dollars)*	Con Edison (a)			CECONY (a)
Aggregate fair value – net liabilities		$62			$41
Collateral posted		$14			$ 9
Additional collateral (b) (downgrade one level from current ratings (c))		$ —			$ —
Additional collateral (b) (downgrade to below investment grade from current ratings (c))		$85	(d)		$45	(d)

(a)

(b)

(c)

(d)	Derivative instruments that are net assets have been excluded from the table. At September 30, 2012, if Con Edison had been downgraded to below investment grade, it would have been required to post additional collateral for such derivative instruments of $27 million.

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

+ References+ Details

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

+ References+ Details

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References+ Details

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

Assets and Liabilities Measured at Fair Value on Recurring Basis

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-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

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+ Details

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2012

Assets and liabilities measured at fair value on a recurring basis as of September 30, 2012 are summarized below.


	Level 1					Level 2						Level 3						Netting Adjustments (4)						Total
*(Millions of Dollars)*	Con Edison			CECONY		Con Edison			CECONY			Con Edison			CECONY			Con Edison			CECONY			Con Edison			CECONY
Derivative assets:
Commodity (1)		$ 2			$ 2		$ 48			$ 16			$ 47			$ 12			$ (46	)		$ (3	)		$ 51			$ 27
Transfer in (5) (6)		—			—		24			—			—			—			—			—			24			—
Transfer out (5) (6)		—			—		—			—			(24	)		—			—			—			(24	)		—
Commodity Total		$ 2			$ 2		$ 72			$ 16			$ 23			$ 12			$ (46	)		$ (3	)		$ 51			$ 27
Other assets		103			96		—			1			105			95			—			—			208			192
Transfer in (5) (6)		—			—		105			95			—			—			—			—			105			95
Transfer out (5) (6)		—			—		—			—			(105	)		(95	)		—			—			(105	)		(95	)
Other assets (3)		$103			$96		$105			$ 96			$ —			$ —			$ —			$ —			$ 208			$192
Total		$105			$98		$177			$112			$ 23			$ 12			$ (46	)		$ (3	)		$ 259			$219
Derivative liabilities:
Commodity		$ 4			$ 1		$114			$ 68			$ 71			$ 9			$(105	)		$(36	)		$ 84			$ 42
Transfer in (5) (6)		7			7		50			12			3			3			—			—			60			22
Transfer out (5) (6)		(2	)		—		(10	)		(10	)		(48	)		(12	)		—			—			(60	)		(22	)
Commodity Total (1)		$9			$ 8		$154			$ 70			$ 26			$ —			$(105	)		$(36	)		$ 84			$ 42
Interest rate contract		—			—		(2	)		—			8			—			—			—			6			—
Transfer in (5) (6)		—			—		8			—			—			—			—			—			8			—
Transfer out (5) (6)		—			—		—			—			(8	)		—			—			—			(8	)		—
Interest rate contract (2)		$ —			$ —		$ 6			$ —			$ —			$ —			$ —			$ —			$ 6			$ —
Total		$ 9			$ 8		$160			$70			$ 26			$ —			$(105	)		$(36	)		$ 90			$ 42

(1)	A portion of the commodity derivatives categorized in Level 3 is valued using an internally developed model with observable inputs. The models also include some less readily observable inputs resulting in the classification of the entire contract as Level 3. See Note J.

(2)	See Note J.

(3)	Other assets are comprised of assets such as life insurance contracts within the deferred compensation plan and non-qualified retirement plans.

(4)	Amounts represent the impact of legally-enforceable master netting agreements that allow the Companies to net gain and loss positions and cash collateral held or placed with the same counterparties.

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

(6)	Transferred between Level 3 and Levels 1 and 2 because of reassessment of the levels in the fair value hierarchy within which certain inputs fall. Other assets and interest rate contract were transferred as of March 31, 2012.

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


	Level 1				Level 2						Level 3						Netting Adjustments (4)						Total
*(Millions of Dollars)*	Con Edison		CECONY		Con Edison			CECONY			Con Edison			CECONY			Con Edison			CECONY			Con Edison			CECONY
Derivative assets:
Commodity (1)		$ 3		$ —		$ 64			$ 8			$ 87			$ 11			$ (84	)		$ 5			$ 70			$ 24
Other assets (3)		76		76		—			—			99			90			—			—			175			166
Total		$79		$76		$ 64			$ 8			$186			$101			$ (84	)		$ 5			$ 245			$190
Derivative liabilities:
Commodity		$12		$ 4		$222			$122			$169			$ 37			$(194	)		$(41	)		$ 209			$122
Transfer in (5) (6) (7)		—		—		26			25			6			6			—			—			32			31
Transfer out (5) (6) (7)		—		—		(6	)		(6	)		(26	)		(25	)		—			—			(32	)		(31	)
Commodity (1)		$12		$ 4		$242			$141			$149			$ 18			$(194	)		$(41	)		$ 209			$122
Interest rate contract (2)		—		—		—			—			8			—			—			—			8			—
Total		$12		$ 4		$242			$141			$157			$ 18			$(194	)		$(41	)		$ 217			$122

(1)	A portion of the commodity derivatives categorized in Level 3 is valued using an internally developed model with observable inputs. The models also include some less readily observable inputs resulting in the classification of the entire contract as Level 3. See Note J.

(2)	See Note J.

(3)	Other assets are comprised of assets such as life insurance contracts within the deferred compensation plan and non-qualified retirement plans.

(4)	Amounts represent the impact of legally-enforceable master netting agreements that allow the Companies to net gain and loss positions and cash collateral held or placed with the same counterparties.

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

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

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

Schedule of Commodity Derivatives

The managers of the risk management groups report to the Companies’ Vice President and Treasurer.


	Fair Value of Level 3 at September 30, 2012 *(Millions of Dollars)*			Valuation Techniques	Unobservable Inputs	Range
Con Edison—Commodity
Electricity Swaps	$	(9	)	Discounted Cash Flow	Forward prices ⁽¹⁾	$22-$64 per MWH
Electricity Wholesale Contract		4		Discounted Cash Flow	Auction prices ⁽²⁾ New Jersey solar renewable energy credit (SREC) ⁽²⁾	$29-$52 per MWH $85 per SREC
Standard Offer Capacity Agreements		(12	)	Discounted Cash Flow	Forward capacity prices ⁽¹⁾ Forward price escalator ⁽¹⁾ Present value factor ⁽¹⁾	$166 MW per day 0%-3% 1.66%
Transmission Congestion Contracts / Financial Transmission Rights		14		Discounted Cash Flow	Discount to adjust auction prices for inter-zonal forward price curves ⁽²⁾ Discount to adjust auction prices for historical monthly realized settlements ⁽²⁾ Historical line loss factor ⁽¹⁾	17.5%-38% (3)%-26.5% 8%
Total Con Edison—Commodity	$	(3	)
CECONY—Commodity
Transmission Congestion Contracts	$	12		Discounted Cash Flow	Discount to adjust auction prices for inter-zonal forward price curves ⁽²⁾ Discount to adjust auction prices for historical monthly realized settlements ⁽²⁾	17.5%-38% (3)%- 26.5%

(1)	Generally, increases/(decreases) in this input in isolation would result in a higher/(lower) fair value measurement.

(2)	Generally, increases/(decreases) in this input in isolation would result in a lower/(higher) fair value measurement.

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


	For the Three Months Ended September 30, 2012
				Total Gains/(Losses)— Realized and Unrealized
*(Millions of Dollars)*	Beginning Balance as of July 1, 2012			Included in Earnings			Included in Regulatory Assets and Liabilities		Purchases		Issuances		Sales		Settlements		Transfer In/Out of Level 3		Ending Balance as of September 30, 2012
Con Edison
Derivatives:
Commodity		$(61	)		$(15	)		$19		$7		$—		$—		$25		$22		$ (3	)
CECONY
Derivatives:
Commodity		$(10	)		$ (9	)		$ 8		$7		$—		$—		$ 5		$11		$ 12


	For the Nine Months Ended September 30, 2012
			Total Gains/(Losses)— Realized and Unrealized
*(Millions of Dollars)*	Beginning Balance as of January 1, 2012		Included in Earnings		Included in Regulatory Assets and Liabilities		Purchases		Issuances		Sales		Settlements		Transfer In/Out of Level 3			Ending Balance as of September 30, 2012
Con Edison
Derivatives:
Commodity		$(62)		$(97)		$11		$18		$—		$—		$106		$ 21			$ (3)
Interest rate contract		(8)		(1)		—		—		—		—		1		8(2	)		—
Other assets (1)		99		3		3		—		—		—		—		(105	)(2)		—
Total		$ 29		$(95)		$14		$18		$—		$—		$107		$ (76)			$ (3)
CECONY
Derivatives:
Commodity		$ (7)		$(25)		$ 8		$15		$—		$—		$ 12		$ 9(2	)		$ 12
Other assets (1)		90		3		2		—		—		—		—		(95	)(2)		—
Total		$ 83		$(22)		$10		$15		$—		$—		$ 12		$ (86)			$ 12

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

(2)	Other assets and interest rate contract were transferred as of March 31, 2012.

The table listed below provides a reconciliation of the beginning and ending net balances for assets and liabilities measured at fair value for the three and nine months ended September 30, 2011 and classified as Level 3 in the fair value hierarchy:


	For the Three Months Ended September 30, 2011
				Total Gains/(Losses)— Realized and Unrealized
*(Millions of Dollars)*	Beginning Balance as of July 1, 2011			Included in Earnings			Included in Regulatory Assets and Liabilities			Purchases		Issuances		Sales		Settlements		Transfer In/Out of Level 3		Ending Balance as of September 30, 2011
Con Edison
Derivatives:
Commodity		$ (25	)		$(37	)		$ 9			$8		$—		$—		$14		$24		$ (7	)
Interest rate contract		(10	)		(1	)		1			—		—		—		1		—		(9	)
Other assets (1)		106			(3	)		(3	)		—		—		—		—		—		100
Total		$ 71			$(41	)		$ 7			$8		$—		$—		$15		$24		$ 84
CECONY
Derivatives:
Commodity		$ —			$ (8	)		$ 1			$8		$—		$—		$ 3		$ 9		$ 13
Other assets (1)		96			(3	)		(2	)		—		—		—		—		—		91
Total		$ 96			$(11	)		$(1	)		$8		$—		$—		$ 3		$ 9		$ 104

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


	For the Nine Months Ended September 30, 2011
				Total Gains/(Losses)— Realized and Unrealized
*(Millions of Dollars)*	Beginning Balance as of January 1, 2011			Included in Earnings			Included in Regulatory Assets and Liabilities			Purchases		Issuances		Sales		Settlements			Transfer In/Out of Level 3		Ending Balance as of September 30, 2011
Con Edison
Derivatives:
Commodity		$ (88	)		$(59	)		$54			$22		$—		$—		$35			$29		$ (7	)
Interest rate contract		(10	)		(3	)		1			—		—		—		3			—		(9	)
Other assets (1)		101			—			(1	)		—		—		—		—			—		100
Total		$ 3			$(62	)		$54			$22		$—		$—		$38			$29		$ 84
CECONY
Derivatives:
Commodity		$ (26	)		$(11	)		$22			$18		$—		$—		$ (4	)		$14		$ 13
Other assets (1)		92			—			(1	)		—		—		—		—			—		91
Total		$ 66			$(11	)		$21			$18		$—		$—		$ (4	)		$14		$ 104

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

Summary of Significant Accounting Policies - Earnings Per Common Share (Detail) (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended						9 Months Ended
	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Sep. 30, 2012	Sep. 30, 2011
Earnings Per Share [Line Items]
Net income for common stock	$ 440	$ 214	$ 277	$ 383	$ 165	$ 311	$ 931	$ 860
Weighted average common shares outstanding - basic	292.9			292.9			292.9	292.5
Add: Incremental shares attributable to effect of potentially dilutive securities	1.7			1.7			1.7	1.7
Adjusted weighted average common shares outstanding - diluted	294.6			294.6			294.6	294.2
Net income for common stock per common share - basic	$ 1.50			$ 1.31			$ 3.18	$ 2.94
Net income for common stock per common share - diluted	$ 1.49			$ 1.30			$ 3.16	$ 2.92

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References+ Details

Additional shares included in the calculation of diluted EPS as a result of the potentially dilutive effect of contingently issuable shares. Contingently issuable shares are those shares that are issuable for little or no cash contingent on certain conditions being met.

+ References+ Details

The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.

+ References+ Details

Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.

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+ Details

Regulatory Matters - Additional Information (Detail) (USD $)	1 Months Ended	9 Months Ended
	Feb. 28, 2009	Sep. 30, 2012	Mar. 31, 2012	Oct. 01, 2010
Schedule Of Regulatory Assets And Liabilities [Line Items]
Surcharge collected from customers			$ 134,000,000
Potential operational penalties		3,000,000
Revenue from electric	249,000,000
Revenue from gas	32,000,000
Revenue from steam service	6,000,000
Potential refund from customers		1,031,000,000
Provisional assessment				21,000,000
Regulatory liability		15,000,000
July 2012 [Member]
Schedule Of Regulatory Assets And Liabilities [Line Items]
Electric base rate increase		19.4
Surcharge payment		15,200,000
July 2013 [Member]
Schedule Of Regulatory Assets And Liabilities [Line Items]
Electric base rate increase		8.8
Surcharge payment		15,200,000
July 2014 [Member]
Schedule Of Regulatory Assets And Liabilities [Line Items]
Electric base rate increase		15.2
Surcharge payment		15,200,000
June 30, 2013 [Member]
Schedule Of Regulatory Assets And Liabilities [Line Items]
Weighted average cost of capital		7.61%
Return on common equity		9.40%
Cost of long term debt		6.07%
Common equity ratio		48.00%
Average base rate		671,000,000
Percentage of revenue allocated to customers		50.00%
Common equity basis points		80
Average net utility plant rates		678,000,000
June 30, 2014 [Member]
Schedule Of Regulatory Assets And Liabilities [Line Items]
Weighted average cost of capital		7.65%
Return on common equity		9.50%
Cost of long term debt		6.07%
Common equity ratio		48.00%
Average base rate		708,000,000
Percentage of revenue allocated to customers		75.00%
Common equity basis points		180
Average net utility plant rates		704,000,000
June 30, 2015 [Member]
Schedule Of Regulatory Assets And Liabilities [Line Items]
Weighted average cost of capital		7.48%
Return on common equity		9.60%
Cost of long term debt		5.64%
Common equity ratio		48.00%
Average base rate		759,000,000
Percentage of revenue allocated to customers		90.00%
Common equity basis points		280
Average net utility plant rates		$ 753,000,000
Maximum [Member]
Schedule Of Regulatory Assets And Liabilities [Line Items]
Common equity ratio		50.00%

Regulatory Matters - Regulatory Assets and Liabilities (Detail) (USD $) In Millions, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
Regulatory Assets [Line Items]
Regulatory assets - long-term	$ 8,897	$ 9,337
Regulatory assets - current	77	164
Regulatory liabilities - long-term	1,102	977
Regulatory liabilities - current	231	118
Con Edison [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	8,897	9,337
Regulatory assets - current	77	164
Regulatory liabilities - long-term	1,102	977
Total Regulatory Assets	8,974	9,501
Regulatory liabilities - current	231	118
Total Regulatory Liabilities	1,333	1,095
Con Edison [Member] \| Unrecognized Pension And Other Postretirement Costs [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	5,211	5,852
Con Edison [Member] \| Future Income Tax [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	1,888	1,798
Con Edison [Member] \| Environmental Restoration Costs [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	722	681
Con Edison [Member] \| Pension And Other Post Retirement Benefits Deferrals [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	205	198
Con Edison [Member] \| Revenue Taxes [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	177	163
Con Edison [Member] \| Surcharge For New York State Assessment [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	135	90
Con Edison [Member] \| Deferred Storm Costs [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	120	128
Con Edison [Member] \| Net Electric Deferrals [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	107	121
Con Edison [Member] \| Deferred Derivative Losses - Long-Term [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	47	60
Regulatory assets - current	75	164
Con Edison [Member] \| O&R Transition Bond Charges [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	40	44
Con Edison [Member] \| Preferred Stock Redemption [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	29
Con Edison [Member] \| Workers' Compensation [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	19	23
Con Edison [Member] \| Property Tax Reconciliation [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	15	13
Regulatory liabilities - long-term	137	35
Con Edison [Member] \| Recoverable Energy Costs [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	1	14
Regulatory assets - current	2
Con Edison [Member] \| Other [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	181	152
Con Edison [Member] \| Allowance For Cost Of Removal Less Salvage [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - long-term	488	448
Con Edison [Member] \| Net Unbilled Revenue Deferrals [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - long-term	121	104
Con Edison [Member] \| World Trade Center Settlement Proceeds [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - long-term	62	62
Con Edison [Member] \| Long-Term Interest Rate Reconciliation [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - long-term	54	30
Con Edison [Member] \| Carrying Charges On Transmission And Distribution Net Plant [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - long-term	36	38
Con Edison [Member] \| Expenditure Prudence Proceeding [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - long-term	15	11
Con Edison [Member] \| Gas Line Losses [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - long-term	14	21
Con Edison [Member] \| Energy Efficiency Programs [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - long-term	5	22
Con Edison [Member] \| Other Liabilities [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - long-term	170	206
Con Edison [Member] \| Revenue Decoupling Mechanism [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - current	107	66
Con Edison [Member] \| Electric Surcharge Offset [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - current	60
Con Edison [Member] \| Refundable Energy Costs - Current [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - current	58	51
Con Edison [Member] \| Deferred Derivative Gains, Current [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - current	6	1
CECONY [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	8,285	8,661
Regulatory assets - current	62	140
Regulatory liabilities - long-term	978	861
Total Regulatory Assets	8,347	8,801
Regulatory liabilities - current	199	79
Total Regulatory Liabilities	1,177	940
CECONY [Member] \| Unrecognized Pension And Other Postretirement Costs [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	4,972	5,554
CECONY [Member] \| Future Income Tax [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	1,810	1,724
CECONY [Member] \| Environmental Restoration Costs [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	607	564
CECONY [Member] \| Pension And Other Post Retirement Benefits Deferrals [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	174	157
CECONY [Member] \| Revenue Taxes [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	171	158
CECONY [Member] \| Surcharge For New York State Assessment [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	125	82
CECONY [Member] \| Deferred Storm Costs [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	78	80
CECONY [Member] \| Net Electric Deferrals [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	107	121
CECONY [Member] \| Deferred Derivative Losses - Long-Term [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	25	44
Regulatory assets - current	62	140
CECONY [Member] \| Preferred Stock Redemption [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	29
CECONY [Member] \| Workers' Compensation [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	19	23
CECONY [Member] \| Property Tax Reconciliation [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - long-term	137	35
CECONY [Member] \| Recoverable Energy Costs [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	1	14
CECONY [Member] \| Other [Member]
Regulatory Assets [Line Items]
Regulatory assets - long-term	167	140
CECONY [Member] \| Allowance For Cost Of Removal Less Salvage [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - long-term	407	372
CECONY [Member] \| Net Unbilled Revenue Deferrals [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - long-term	121	104
CECONY [Member] \| World Trade Center Settlement Proceeds [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - long-term	62	62
CECONY [Member] \| Long-Term Interest Rate Reconciliation [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - long-term	54	30
CECONY [Member] \| Carrying Charges On Transmission And Distribution Net Plant [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - long-term	16	14
CECONY [Member] \| Expenditure Prudence Proceeding [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - long-term	15	11
CECONY [Member] \| Gas Line Losses [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - long-term	14	21
CECONY [Member] \| Energy Efficiency Programs [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - long-term	5	20
CECONY [Member] \| Other Liabilities [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - long-term	147	192
CECONY [Member] \| Revenue Decoupling Mechanism [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - current	103	66
CECONY [Member] \| Electric Surcharge Offset [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - current	60
CECONY [Member] \| Refundable Energy Costs - Current [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - current	30	12
CECONY [Member] \| Deferred Derivative Gains, Current [Member]
Regulatory Assets [Line Items]
Regulatory liabilities - current	$ 6	$ 1

Carrying amount as of the balance sheet date of capitalized costs of regulated entities that are expected to be recovered through revenue sources within one year or the normal operating cycle, if longer. Such costs are capitalized if they meet both of the following criteria: a. It is probable that future revenue in an amount at least equal to the capitalized cost will result from inclusion of that cost in allowable costs for rate-making purposes. b. Based on available evidence, the future revenue will be provided to permit recovery of the previously incurred cost rather than to provide for expected levels of similar future costs. If the revenue will be provided through an automatic rate-adjustment clause, this criterion requires that the regulator's intent clearly be to permit recovery of the previously incurred cost.

+ References+ Details

Capitalization - Additional Information (Detail) (USD $)					1 Months Ended			1 Months Ended
	Sep. 30, 2012 Consolidated Edison Inc [Member]	Dec. 31, 2011 Consolidated Edison Inc [Member]	Sep. 30, 2012 Consolidated Edison Inc [Member] Level 2 [Member]	Sep. 30, 2012 Consolidated Edison Inc [Member] Level 3 [Member]	Mar. 31, 2012 CECONY [Member]	Sep. 30, 2012 CECONY [Member]	Dec. 31, 2011 CECONY [Member]	Nov. 30, 2012 CECONY [Member] Subsequent Event [Member]	Sep. 30, 2012 CECONY [Member] Level 2 [Member]	Sep. 30, 2012 CECONY [Member] Level 3 [Member]
Issue of debentures					$ 400,000,000
Rate of debentures					4.20%
Period of debentures					30 years
Net proceeds from the sale					239,000,000
Redemption of Cumulative Preferred Stock					5
Cumulative Preferred Stock, par value					$ 100
Tax-exempt debt								225,000,000
Fair values of long-term debt	$ 13,197,000,000	$ 12,744,000,000	$ 12,561,000,000	$ 636,000,000		$ 12,001,000,000	$ 11,593,000,000		$ 11,365,000,000	$ 636,000,000

The cash inflow associated with the sale of debt securities classified as available-for-sale securities.

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

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Investing Activities

-URI http://asc.fasb.org/extlink&oid=6516133

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 115

-Paragraph 18

-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 95

-Paragraph 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 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 320

-SubTopic 10

-Section 45

-Paragraph 11

-URI http://asc.fasb.org/extlink&oid=6871852&loc=d3e26853-111562

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 12

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3179-108585

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 16

-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.

+ Details

Capitalization - Carrying Amounts And Fair Values Of Long-term Debt (Detail) (USD $) In Millions, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
Consolidated Edison Inc [Member]
Carrying Amount	$ 10,769	$ 10,673
Fair Value	13,197	12,744
CECONY [Member]
Carrying Amount	9,845	9,745
Fair Value	$ 12,001	$ 11,593

Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References+ Details

Short-Term Borrowing - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	9 Months Ended
	Sep. 30, 2012
Short-term Debt [Line Items]
Weighted average interest rate	0.30%
Consolidated Edison Inc [Member]
Short-term Debt [Line Items]
Commercial paper outstanding	$ 340
Letters of credit outstanding under the Credit Agreement	207
CECONY [Member]
Short-term Debt [Line Items]
Commercial paper outstanding	332
Letters of credit outstanding under the Credit Agreement	$ 192

Including the current and noncurrent portions, carrying value as of the balance sheet date of long-term unsecured obligations issued by corporations and other borrowers to investors (with maturities initially due after one year or beyond the operating cycle if longer).

+ References+ Details

Pension Benefits - Companies' Net Periodic Benefit Costs (Detail) (Pension Benefits [Member], USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Con Edison [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost - including administrative expenses	$ 59	$ 48	$ 177	$ 142
Interest cost on projected benefit obligation	137	140	410	420
Expected return on plan assets	(176)	(184)	(528)	(550)
Amortization of net actuarial loss	177	133	531	397
Amortization of prior service costs	2	2	6	6
NET PERIODIC BENEFIT COST	199	139	596	415
Amortization of regulatory asset			1	1
TOTAL PERIODIC BENEFIT COST			597	416
Cost capitalized	(64)	(45)	(200)	(141)
Reconciliation to rate level		(11)	(37)	(68)
Cost charged to operating expenses	135	83	360	207
CECONY [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost - including administrative expenses	55	45	165	133
Interest cost on projected benefit obligation	128	131	385	393
Expected return on plan assets	(168)	(174)	(503)	(524)
Amortization of net actuarial loss	168	126	503	376
Amortization of prior service costs	2		4	4
NET PERIODIC BENEFIT COST	185	128	554	382
Amortization of regulatory asset			1	1
TOTAL PERIODIC BENEFIT COST			555	383
Cost capitalized	(60)	(42)	(186)	(131)
Reconciliation to rate level	(1)	(11)	(36)	(70)
Cost charged to operating expenses	$ 124	$ 75	$ 333	$ 182

Pension Benefits - Additional Information (Detail) (Pension Benefits [Member], USD $) In Millions, unless otherwise specified	9 Months Ended
	Sep. 30, 2012
Pension And Other Employee Benefit Plans [Line Items]
Estimated future employer contributions	$ 775
CECONY [Member]
Pension And Other Employee Benefit Plans [Line Items]
Estimated future employer contributions	721
Funds made to non-qualified supplemental plan	$ 12

Other Postretirement Benefits - Net Periodic Postretirement Benefit Costs (Detail) (Other Postretirement Benefit Plans, Defined Benefit [Member], USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Con Edison [Member]
Schedule Of Other Postretirement Benefits [Line Items]
Service cost	$ 6	$ 7	$ 20	$ 19
Interest cost on accumulated other postretirement benefit obligation	18	20	55	62
Expected return on plan assets	(21)	(22)	(64)	(66)
Amortization of net actuarial loss	24	22	73	66
Amortization of prior service cost	(5)	(3)	(16)	(7)
Amortization of transition obligation		1	1	3
NET PERIODIC BENEFIT COST	22	25	69	77
Cost capitalized	(8)	(9)	(24)	(27)
Reconciliation to rate level	3	3	15	12
Cost charged to operating expenses	17	19	60	62
CECONY [Member]
Schedule Of Other Postretirement Benefits [Line Items]
Service cost	5	5	15	15
Interest cost on accumulated other postretirement benefit obligation	16	18	48	54
Expected return on plan assets	(19)	(21)	(56)	(59)
Amortization of net actuarial loss	22	20	65	60
Amortization of prior service cost	(4)	(3)	(13)	(9)
Amortization of transition obligation		1	1	3
NET PERIODIC BENEFIT COST	20	20	60	64
Cost capitalized	(7)	(7)	(20)	(22)
Reconciliation to rate level	3	3	12	10
Cost charged to operating expenses	$ 16	$ 16	$ 52	$ 52

Other Postretirement Benefits - Additional Information (Detail) (Other Postretirement Benefit Plans, Defined Benefit [Member], USD $) In Millions, unless otherwise specified	9 Months Ended
	Sep. 30, 2012
Con Edison [Member]
Schedule Of Other Postretirement Benefits [Line Items]
Expected contributions	$ 83
Contributions to benefit plans	34
CECONY [Member]
Schedule Of Other Postretirement Benefits [Line Items]
Expected contributions	71
Contributions to benefit plans	$ 28

Environmental Matters - Accrued Liabilities and Regulatory Assets (Detail) (USD $) In Millions, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
Con Edison [Member]
Accrued Liabilities:
Regulatory assets	$ 8,974	$ 9,501
Con Edison [Member] \| Manufactured Gas Plant Sites [Member]
Accrued Liabilities:
Accrued liabilities	466	422
Con Edison [Member] \| Other Superfund Sites [Member]
Accrued Liabilities:
Accrued liabilities	71	67
Con Edison [Member] \| Superfund Sites [Member]
Accrued Liabilities:
Accrued liabilities	537	489
Regulatory assets	722	681
CECONY [Member]
Accrued Liabilities:
Regulatory assets	8,347	8,801
CECONY [Member] \| Manufactured Gas Plant Sites [Member]
Accrued Liabilities:
Accrued liabilities	352	307
CECONY [Member] \| Other Superfund Sites [Member]
Accrued Liabilities:
Accrued liabilities	71	66
CECONY [Member] \| Superfund Sites [Member]
Accrued Liabilities:
Accrued liabilities	423	373
Regulatory assets	$ 607	$ 564

Total costs accrued as of the balance sheet date for environmental loss contingencies.

+ References+ Details

Environmental Matters - Environmental Remediation Costs (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Con Edison [Member]
Site Contingency [Line Items]
Remediation costs incurred	$ 3	$ 9	$ 18	$ 24
Insurance recoveries received
CECONY [Member]
Site Contingency [Line Items]
Remediation costs incurred	1	9	15	22
Insurance recoveries received

The charge against earnings in the period for known or estimated future costs arising from requirements to perform environmental remediation activities.

Reference 1: 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 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 90-8

-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 Accounting Standards Codification

-Topic 410

-SubTopic 30

-Section 50

-Paragraph 12

-URI http://asc.fasb.org/extlink&oid=6393242&loc=d3e13296-110859

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

-Publisher AICPA

-Name Statement of Position (SOP)

-Number 96-1

-Paragraph 170

-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 AICPA

-Name Statement of Position (SOP)

-Number 96-1

-Paragraph 147, 148, 149, 150

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 5

-Paragraph 9, 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 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 143

-Paragraph 2

-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

Environmental Matters - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2010
CECONY [Member] \| Asbestos Proceeding [Member]
Accrued Environmental Remediation Costs [Line Items]
Estimated undiscounted asbestos liability	$ 10
Estimated undiscounted asbestos liability in year	15 years
CECONY [Member] \| Superfund Sites [Member] \| Environmental Remediation Expense [Member] \| Manufactured Gas Plant Sites Member] \| Other Manufactured Gas Plant-Related Environmental Contaminants [Member]
Accrued Environmental Remediation Costs [Line Items]
Estimated aggregate undiscounted potential liability related environmental contaminants	1,900.0
O&R [Member] \| Superfund Sites [Member] \| Environmental Remediation Expense [Member] \| Manufactured Gas Plant Sites Member]
Accrued Environmental Remediation Costs [Line Items]
Estimated aggregate undiscounted potential liability related environmental contaminants	$ 200.0

Environmental Matters - Accrued Liability for Asbestos Suits and Workers' Compensation Proceedings (Detail) (USD $) In Millions, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
Con Edison [Member]
Site Contingency [Line Items]
Regulatory assets	$ 8,974	$ 9,501
Con Edison [Member] \| Asbestos Suits [Member]
Site Contingency [Line Items]
Accrued liability	10	10
Regulatory assets	10	10
Con Edison [Member] \| Workers' Compensation [Member]
Site Contingency [Line Items]
Accrued liability	94	98
Regulatory assets	19	23
CECONY [Member]
Site Contingency [Line Items]
Regulatory assets	8,347	8,801
CECONY [Member] \| Asbestos Suits [Member]
Site Contingency [Line Items]
Accrued liability	10	10
Regulatory assets	10	10
CECONY [Member] \| Workers' Compensation [Member]
Site Contingency [Line Items]
Accrued liability	89	93
Regulatory assets	$ 19	$ 23

Total costs accrued as of the balance sheet date for environmental loss contingencies.

+ References+ Details

Other Material Contingencies - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	9 Months Ended					9 Months Ended
	Sep. 30, 2012	Dec. 31, 2011	Sep. 30, 2012 Leases [Member]	Sep. 30, 2012 Energy [Member]	Sep. 30, 2012 Construction [Member]	Sep. 30, 2012 Tax Deficiency Paid In December 2005 [Member]	Sep. 30, 2012 Interest In April 2006 [Member]	Sep. 30, 2012 Disallowance Of Tax 1998-2007 [Member]	Dec. 31, 2011 Disallowance Of Tax 2011 [Member]	Dec. 31, 2010 Disallowance Of Tax 2010 [Member]	Dec. 31, 2009 Disallowance Of Tax 2009 [Member]	Dec. 31, 2008 Disallowance Of Tax 2008 [Member]
Operating Leased Assets [Line Items]
Total investment in electric generating and gas distribution facilities	$ 259
Transactions financed with equity	93
Transactions financed with non-recourse	166
The company's investment in leveraged leases	(73)	(55)
Gross investment in leverage leases	228	234
Deferred tax liabilities	301	289
Tax deficiency paid to IRS						0.3
Interest paid related to tax deficiency							0.2
Disallowed deduction								416	35	40	41	42
Tax savings from lease in lease out transactions	248
Interest required to be paid	122
Guarantee obligations maximum exposure	823	760
Guarantees issued			7	25	11
Maximum potential obligation	$ 5

Other Material Contingencies - Total Guarantees (Detail) (USD $) In Millions, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
Guarantor Obligations [Line Items]
Total guarantees, by type and term	$ 823	$ 760
Financial And Performance Guarantee For Energy Transactions [Member]
Guarantor Obligations [Line Items]
Total guarantees, by type and term	764
Financial And Performance Guarantee For Intra-Company [Member]
Guarantor Obligations [Line Items]
Total guarantees, by type and term	16
Financial And Performance Guarantee Other [Member]
Guarantor Obligations [Line Items]
Total guarantees, by type and term	43
Guarantee Duration, 0 - 3 Years [Member]
Guarantor Obligations [Line Items]
Total guarantees, by type and term	749
Guarantee Duration, 0 - 3 Years [Member] \| Financial And Performance Guarantee For Energy Transactions [Member]
Guarantor Obligations [Line Items]
Total guarantees, by type and term	696
Guarantee Duration, 0 - 3 Years [Member] \| Financial And Performance Guarantee For Intra-Company [Member]
Guarantor Obligations [Line Items]
Total guarantees, by type and term	15
Guarantee Duration, 0 - 3 Years [Member] \| Financial And Performance Guarantee Other [Member]
Guarantor Obligations [Line Items]
Total guarantees, by type and term	38
Guarantee Duration, 4 - 10 Years [Member]
Guarantor Obligations [Line Items]
Total guarantees, by type and term	7
Guarantee Duration, 4 - 10 Years [Member] \| Financial And Performance Guarantee For Energy Transactions [Member]
Guarantor Obligations [Line Items]
Total guarantees, by type and term	2
Guarantee Duration, 4 - 10 Years [Member] \| Financial And Performance Guarantee Other [Member]
Guarantor Obligations [Line Items]
Total guarantees, by type and term	5
Guarantee Duration, Greater Than 10 Years [Member]
Guarantor Obligations [Line Items]
Total guarantees, by type and term	67
Guarantee Duration, Greater Than 10 Years [Member] \| Financial And Performance Guarantee For Energy Transactions [Member]
Guarantor Obligations [Line Items]
Total guarantees, by type and term	66
Guarantee Duration, Greater Than 10 Years [Member] \| Financial And Performance Guarantee For Intra-Company [Member]
Guarantor Obligations [Line Items]
Total guarantees, by type and term	$ 1

Financial Information By Business Segment - Financial Data for the Business Segments (Detail) (USD $)
In Millions, unless otherwise specified

3 Months Ended

9 Months Ended

Sep. 30, 2012

Sep. 30, 2011

Sep. 30, 2012

Sep. 30, 2011

$ 709

$ 659

851

756

1,886

1,781

CECONY [Member]

2,868

2,917

7,738

8,042

225

209

664

618

754

702

1,678

1,619

O&R [Member]

226

241

601

660

100

Consolidated Edison Inc [Member]

3,438

3,629

9,287

9,972

240

222

709

659

851

756

1,886

1,781

CECONY - Electric [Member]

2,611

2,644

6,307

6,378

179

166

527

489

812

758

1,383

1,326

CECONY - Gas [Member]

189

197

1,017

1,156

(21)

(23)

255

212

CECONY - Steam [Member]

414

508

(37)

(33)

Consolidation Adjustments [Member]

(25)

(24)

(73)

(72)

O&R - Electric [Member]

199

217

457

507

O&R - Gas [Member]

144

153

(6)

Competitive Energy Businesses [Member]

344

472

954

1,286

111

Other Revenues And Eliminations In Segment Information [Member]

(1)

^[1]

(6)

^[1]

(16)

^[1]

(2)

^[1]

(3)

^[1]

(6)

^[1]

(9)

^[1]

$ (3)

^[1]

$ (4)

^[1]

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

Financial Information By Business Segment - Additional Information (Detail) (Con Edison Development [Member], USD $) In Millions, unless otherwise specified	1 Months Ended
	Jul. 31, 2012 MW	Oct. 31, 2012 Subsequent Event [Member] Company	Jul. 31, 2012 Alpaugh [Member]	Jul. 31, 2012 Alpaugh [Member] Contingent consideration [Member]	Jul. 31, 2012 Alpaugh [Member] Construction work in progress [Member]	Jul. 31, 2012 Alpaugh [Member] Deposits relating to power purchase agreements [Member]	Jul. 31, 2012 Alpaugh [Member] Construction [Member]	Oct. 31, 2012 California [Member] Subsequent Event [Member] MW	Oct. 31, 2012 California [Member] Subsequent Event [Member] Construction work in progress [Member]	Oct. 31, 2012 California [Member] Subsequent Event [Member] Deposits relating to power purchase agreements [Member]	Oct. 31, 2012 California [Member] Subsequent Event [Member] Construction [Member]
Segment Reporting Information [Line Items]
Solar energy purchased	70							40
Purchase price of solar energy development company			$ 288	$ 2	$ 284	$ 4	$ 350	$ 51	$ 39	$ 12	$ 200
Number of companies purchased		2

Derivative Instruments And Hedging Activities - Energy Price Hedging Fair Values (Detail) (USD $) In Millions, unless otherwise specified	Sep. 30, 2012	Sep. 30, 2011
Con Edison [Member]
Derivatives And Hedging Activities [Line Items]
Fair value of net derivative assets/(liabilities) - gross	$ (92)	$ (249)
Impact of netting of cash collateral	59	110
Fair value of net derivative assets/(liabilities) - net	(33)	(139)
CECONY [Member]
Derivatives And Hedging Activities [Line Items]
Fair value of net derivative assets/(liabilities) - gross	(48)	(144)
Impact of netting of cash collateral	33	46
Fair value of net derivative assets/(liabilities) - net	$ (15)	$ (98)

Derivative Instruments And Hedging Activities - Narrative (Detail) (USD $)
In Millions, unless otherwise specified

3 Months Ended

9 Months Ended

Sep. 30, 2012

Sep. 30, 2011

Sep. 30, 2012

Sep. 30, 2011

Increase in the fair value of interest swap

$ 1

$ 2

Con Edison [Member]

Energy supply and hedging activities credit exposure total

118

Makeup of net credit exposure, with investment-grade counterparties

Makeup of net credit exposure with commodity exchange brokers

Makeup of net credit exposure independent system operators

Makeup of net credit exposure non-rated counterparties

Number of contracts, considered derivatives

1289

Unrealized gain (loss) on derivatives

^[1]

(62)

^[1]

120

^[1]

CECONY [Member]

Energy supply and hedging activities credit exposure total

Makeup of net credit exposure, with investment-grade counterparties

Makeup of net credit exposure with commodity exchange brokers

Number of contracts, considered derivatives

628

Interest Rate Swap [Member]

Unrealized gain (loss) on derivatives

$ 6

Derivative, fixed interest rate

6.09%

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

Derivative Instruments And Hedging Activities - Fair Values Of Companies' Commodity Derivatives (Detail) (USD $) In Millions, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
Con Edison [Member] \| Derivatives Assets [Member]
Derivatives And Hedging Activities [Line Items]
Current Other current assets	$ 110	$ 165
Impact of netting	(59)	(95)
Net derivative assets	51	70
Con Edison [Member] \| Derivatives Assets [Member] \| Other Current Assets [Member]
Derivatives And Hedging Activities [Line Items]
Current Other current assets	91	139
Con Edison [Member] \| Derivatives Assets [Member] \| Other Deferred Charges And Non-Current Assets [Member]
Derivatives And Hedging Activities [Line Items]
Current Other current assets	19	26
Con Edison [Member] \| Derivatives Liabilities [Member]
Derivatives And Hedging Activities [Line Items]
Current Fair value of derivative liabilities	202	414
Impact of netting	(118)	(205)
Net derivative liabilities	84	209
Con Edison [Member] \| Derivatives Liabilities [Member] \| Fair Value Of Derivative Liabilities, Current [Member]
Derivatives And Hedging Activities [Line Items]
Current Fair value of derivative liabilities	149	331
Con Edison [Member] \| Derivatives Liabilities [Member] \| Fair Value Of Derivative Liabilities, Long-Term [Member]
Derivatives And Hedging Activities [Line Items]
Current Fair value of derivative liabilities	53	83
CECONY [Member] \| Derivatives Assets [Member]
Derivatives And Hedging Activities [Line Items]
Current Other current assets	40	30
Impact of netting	(13)	(6)
Net derivative assets	27	24
CECONY [Member] \| Derivatives Assets [Member] \| Other Current Assets [Member]
Derivatives And Hedging Activities [Line Items]
Current Other current assets	30	16
CECONY [Member] \| Derivatives Assets [Member] \| Other Deferred Charges And Non-Current Assets [Member]
Derivatives And Hedging Activities [Line Items]
Current Other current assets	10	14
CECONY [Member] \| Derivatives Liabilities [Member]
Derivatives And Hedging Activities [Line Items]
Current Fair value of derivative liabilities	88	175
Impact of netting	(46)	(53)
Net derivative liabilities	42	122
CECONY [Member] \| Derivatives Liabilities [Member] \| Fair Value Of Derivative Liabilities, Current [Member]
Derivatives And Hedging Activities [Line Items]
Current Fair value of derivative liabilities	60	127
CECONY [Member] \| Derivatives Liabilities [Member] \| Fair Value Of Derivative Liabilities, Long-Term [Member]
Derivatives And Hedging Activities [Line Items]
Current Fair value of derivative liabilities	$ 28	$ 48

Derivative Instruments And Hedging Activities - Changes In Fair Values Of Commodity Derivatives (Detail) (USD $)
In Millions, unless otherwise specified

3 Months Ended

9 Months Ended

Sep. 30, 2012

Sep. 30, 2011

Sep. 30, 2012

Sep. 30, 2011

Con Edison [Member]

$ 6

^[1]

$ (1)

^[1]

$ 6

^[1]

$ 3

^[1]

Net deferred gains/(losses)

^[1]

(53)

^[1]

(85)

^[1]

(59)

^[1]

^[1]

(54)

^[1]

(79)

^[1]

(56)

^[1]

Total pre-tax gain/(loss) recognized in income

^[1]

(62)

^[1]

120

^[1]

Con Edison [Member] | Deferred Derivative Gains, Current [Member]

^[1]

Con Edison [Member] | Deferred Derivative Gains, Long-term [Member]

^[1]

(2)

^[1]

^[1]

Con Edison [Member] | Deferred Derivative Losses, Current [Member]

^[1]

Con Edison [Member] | Recoverable Energy Costs, Current [Member]

(60)

^[1]

(75)

^[1]

(187)

^[1]

(177)

^[1]

Con Edison [Member] | Regulatory Assets, Long-Term [Member]

^[1]

Con Edison [Member] | Regulatory Liabilities, Long-Term [Member]

^[1]

CECONY [Member]

^[1]

Net deferred gains/(losses)

^[1]

(40)

^[1]

(67)

^[1]

(47)

^[1]

^[1]

(40)

^[1]

(61)

^[1]

(44)

^[1]

CECONY [Member] | Deferred Derivative Gains, Current [Member]

^[1]

CECONY [Member] | Deferred Derivative Gains, Long-term [Member]

^[1]

(1)

^[1]

^[1]

CECONY [Member] | Deferred Derivative Losses, Current [Member]

^[1]

CECONY [Member] | Recoverable Energy Costs, Current [Member]

(52)

^[1]

(53)

^[1]

(164)

^[1]

(134)

^[1]

CECONY [Member] | Regulatory Assets, Long-Term [Member]

^[1]

CECONY [Member] | Regulatory Liabilities, Long-Term [Member]

^[1]

Non-Utility Revenue [Member]

Total pre-tax gain/(loss) recognized in income

(10)

(13)

(35)

Non-Utility Revenue [Member] | Con Edison [Member]

Pre-tax gain/(loss) recognized in income

^[1],[2]

^[1],[3]

(11)

^[1],[4]

^[1],[5]

Purchased Power Expense [Member]

Total pre-tax gain/(loss) recognized in income

(1)

Purchased Power Expense [Member] | Con Edison [Member]

Pre-tax gain/(loss) recognized in income

^[1],[2]

^[1],[3]

(49)

^[1],[4]

^[1],[5]

Gas Purchased For Resale [Member] | Con Edison [Member]

Pre-tax gain/(loss) recognized in income

$ 6

^[1]

$ (2)

^[1]

$ 17

^[1]

[1]	Qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts, are not reported at fair value under the accounting rules for derivatives and hedging and, therefore, are excluded from the table.
[2]	For the three months ended September 30, 2012, Con Edison recorded in purchased power expense an unrealized pre-tax gain/(loss) of $30 million.
[3]	For the three months ended September 30, 2011, Con Edison recorded in non-utility revenues and purchased power expense an unrealized pre-tax gain/(loss) of $(10) million and $(1) million, respectively.
[4]	For the nine months ended September 30, 2012, Con Edison recorded in non-utility revenues and purchased power expense an unrealized pre-tax gain/(loss) of $(13) million and $75 million, respectively.
[5]	For the nine months ended September 30, 2011, Con Edison recorded in non-utility revenues and purchased power expense an unrealized pre-tax gain/(loss) of $(35) million and $59 million, respectively.

The amount of net gains and losses recognized in income during the period on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges, on derivative instruments designated and qualifying as hedging instruments in cash flow hedges, and on derivative instruments not designated as hedging instruments.

+ References+ Details

Derivative Instruments And Hedging Activities - Number Of Derivative Contracts By Commodity Type (Detail)

9 Months Ended

Sep. 30, 2012

Contract

MWh

Description Of Derivative Activity Volume Electric Derivatives [Member] | Con Edison [Member]

Number of Capacity Contracts

576

^[1]

MWhs

12,807,613

^[2]

^[1]

MW-Months

10,019

^[2]

Description Of Derivative Activity Volume Electric Derivatives [Member] | CECONY [Member]

113

^[1]

MWhs

3,271,000

^[2]

Description Of Derivative Activity Volume Gas Derivatives [Member] | Con Edison [Member]

Number of Capacity Contracts

635

^[1]

Dths

86,541,700

^[2]

1,289

^[1]

Description Of Derivative Activity Volume Gas Derivatives [Member] | CECONY [Member]

Number of Capacity Contracts

515

^[1]

Dths

81,080,000

^[2]

628

^[1]

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

Derivative Instruments And Hedging Activities - Aggregate Fair Value Of All Derivative Instruments With Credit-Risk-Related Contingent Features (Detail) (USD $)
In Millions, unless otherwise specified

Sep. 30, 2012

Con Edison [Member]

Aggregate fair value - net liabilities

$ 62

^[1]

^[1]

Con Edison [Member] | Additional Collateral Aggregate Fair Value Down Below Investment Grade [Member]

Additional collateral (b) (downgrade one level from current ratings (c))

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

CECONY [Member]

Aggregate fair value - net liabilities

^[1]

^[1]

CECONY [Member] | Additional Collateral Required Due To Loss Of Unsecured Credit [Member]

CECONY [Member] | Additional Collateral Aggregate Fair Value Down Below Investment Grade [Member]

Additional collateral (b) (downgrade one level from current ratings (c))

$ 45

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

[1]	Non-derivative transactions for the purchase and sale of electricity and gas and qualifying derivative instruments, which have been designated as normal purchases or normal sales, are excluded from the table. These transactions primarily include purchases of electricity from independent system operators. In the event the Utilities and Con Edison's competitive energy businesses were no longer extended unsecured credit for such purchases, the Companies would be required to post collateral, which at September 30, 2012, would have amounted to an estimated $25 million for Con Edison. For certain other such non-derivative transactions, the Companies could be required to post collateral under certain circumstances, including in the event counterparties had reasonable grounds for insecurity.
[2]	The Companies measure the collateral requirements by taking into consideration the fair value amounts of derivative instruments that contain credit-risk-related contingent features that are in a net liabilities position plus amounts owed to counterparties for settled transactions and amounts required by counterparties for minimum financial security. The fair value amounts represent unrealized losses, net of any unrealized gains where the Companies have a legally enforceable right of setoff.
[3]	The current ratings are Moody's, S&P and Fitch long-term credit rating of, as applicable, Con Edison (Baa1/BBB+/BBB+), CECONY (A3/A-/A-) or O&R (Baa1/A-/A-). Credit ratings assigned by rating agencies are expressions of opinions that are subject to revision or withdrawal at any time by the assigning rating agency.
[4]	Derivative instruments that are net assets have been excluded from the table. At September 30, 2012, if Con Edison had been downgraded to below investment grade, it would have been required to post additional collateral for such derivative instruments of $27 million.

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

12 Months Ended

9 Months Ended

12 Months Ended

9 Months Ended

12 Months Ended

9 Months Ended

12 Months Ended

9 Months Ended

12 Months Ended

9 Months Ended

12 Months Ended

9 Months Ended

Dec. 31, 2011

Con Edison [Member]

Sep. 30, 2012

Con Edison [Member]

Sep. 30, 2012

Con Edison [Member]

Derivatives Assets [Member]

Dec. 31, 2011

CECONY [Member]

Sep. 30, 2012

CECONY [Member]

Sep. 30, 2012

CECONY [Member]

Derivatives Assets [Member]

Sep. 30, 2012

Commodity [Member]

Con Edison [Member]

Dec. 31, 2011

Commodity [Member]

Con Edison [Member]

Sep. 30, 2012

Commodity [Member]

Con Edison [Member]

Derivatives Liabilities [Member]

Sep. 30, 2012

Commodity [Member]

CECONY [Member]

Dec. 31, 2011

Commodity [Member]

CECONY [Member]

Sep. 30, 2012

Commodity [Member]

CECONY [Member]

Derivatives Liabilities [Member]

Sep. 30, 2012

Other Assets [Member]

Con Edison [Member]

Dec. 31, 2011

Other Assets [Member]

Con Edison [Member]

Sep. 30, 2012

Other Assets [Member]

Con Edison [Member]

Derivatives Assets [Member]

Sep. 30, 2012

Other Assets [Member]

CECONY [Member]

Dec. 31, 2011

Other Assets [Member]

CECONY [Member]

Sep. 30, 2012

Other Assets [Member]

CECONY [Member]

Derivatives Assets [Member]

Sep. 30, 2012

Interest Rate Contract [Member]

Con Edison [Member]

Dec. 31, 2011

Interest Rate Contract [Member]

Con Edison [Member]

Sep. 30, 2012

Interest Rate Contract [Member]

Con Edison [Member]

Derivatives Liabilities [Member]

Sep. 30, 2012

Level 1 [Member]

Con Edison [Member]

Dec. 31, 2011

Level 1 [Member]

Con Edison [Member]

Sep. 30, 2012

Level 1 [Member]

CECONY [Member]

Dec. 31, 2011

Level 1 [Member]

CECONY [Member]

Sep. 30, 2012

Level 1 [Member]

Commodity [Member]

Con Edison [Member]

Dec. 31, 2011

Level 1 [Member]

Commodity [Member]

Con Edison [Member]

Sep. 30, 2012

Level 1 [Member]

Commodity [Member]

Con Edison [Member]

Derivatives Liabilities [Member]

Sep. 30, 2012

Level 1 [Member]

Commodity [Member]

CECONY [Member]

Dec. 31, 2011

Level 1 [Member]

Commodity [Member]

CECONY [Member]

Sep. 30, 2012

Level 1 [Member]

Commodity [Member]

CECONY [Member]

Derivatives Liabilities [Member]

Sep. 30, 2012

Level 1 [Member]

Other Assets [Member]

Con Edison [Member]

Dec. 31, 2011

Level 1 [Member]

Other Assets [Member]

Con Edison [Member]

Sep. 30, 2012

Level 1 [Member]

Other Assets [Member]

Con Edison [Member]

Derivatives Assets [Member]

Sep. 30, 2012

Level 1 [Member]

Other Assets [Member]

CECONY [Member]

Dec. 31, 2011

Level 1 [Member]

Other Assets [Member]

CECONY [Member]

Sep. 30, 2012

Level 1 [Member]

Other Assets [Member]

CECONY [Member]

Derivatives Assets [Member]

Dec. 31, 2011

Level 2 [Member]

Con Edison [Member]

Sep. 30, 2012

Level 2 [Member]

Con Edison [Member]

Sep. 30, 2012

Level 2 [Member]

Con Edison [Member]

Derivatives Assets [Member]

Dec. 31, 2011

Level 2 [Member]

CECONY [Member]

Sep. 30, 2012

Level 2 [Member]

CECONY [Member]

Sep. 30, 2012

Level 2 [Member]

CECONY [Member]

Derivatives Assets [Member]

Sep. 30, 2012

Level 2 [Member]

Commodity [Member]

Con Edison [Member]

Dec. 31, 2011

Level 2 [Member]

Commodity [Member]

Con Edison [Member]

Sep. 30, 2012

Level 2 [Member]

Commodity [Member]

Con Edison [Member]

Derivatives Liabilities [Member]

Sep. 30, 2012

Level 2 [Member]

Commodity [Member]

CECONY [Member]

Dec. 31, 2011

Level 2 [Member]

Commodity [Member]

CECONY [Member]

Sep. 30, 2012

Level 2 [Member]

Commodity [Member]

CECONY [Member]

Derivatives Liabilities [Member]

Sep. 30, 2012

Level 2 [Member]

Other Assets [Member]

Con Edison [Member]

Sep. 30, 2012

Level 2 [Member]

Other Assets [Member]

Con Edison [Member]

Derivatives Assets [Member]

Sep. 30, 2012

Level 2 [Member]

Other Assets [Member]

CECONY [Member]

Sep. 30, 2012

Level 2 [Member]

Other Assets [Member]

CECONY [Member]

Derivatives Assets [Member]

Sep. 30, 2012

Level 2 [Member]

Interest Rate Contract [Member]

Con Edison [Member]

Sep. 30, 2012

Level 2 [Member]

Interest Rate Contract [Member]

Con Edison [Member]

Derivatives Liabilities [Member]

Dec. 31, 2011

Level 3 [Member]

Con Edison [Member]

Sep. 30, 2012

Level 3 [Member]

Con Edison [Member]

Sep. 30, 2012

Level 3 [Member]

Con Edison [Member]

Derivatives Assets [Member]

Dec. 31, 2011

Level 3 [Member]

CECONY [Member]

Sep. 30, 2012

Level 3 [Member]

CECONY [Member]

Sep. 30, 2012

Level 3 [Member]

CECONY [Member]

Derivatives Assets [Member]

Sep. 30, 2012

Level 3 [Member]

Commodity [Member]

Con Edison [Member]

Dec. 31, 2011

Level 3 [Member]

Commodity [Member]

Con Edison [Member]

Sep. 30, 2012

Level 3 [Member]

Commodity [Member]

Con Edison [Member]

Derivatives Liabilities [Member]

Sep. 30, 2012

Level 3 [Member]

Commodity [Member]

CECONY [Member]

Dec. 31, 2011

Level 3 [Member]

Commodity [Member]

CECONY [Member]

Sep. 30, 2012

Level 3 [Member]

Commodity [Member]

CECONY [Member]

Derivatives Liabilities [Member]

Sep. 30, 2012

Level 3 [Member]

Other Assets [Member]

Con Edison [Member]

Dec. 31, 2011

Level 3 [Member]

Other Assets [Member]

Con Edison [Member]

Sep. 30, 2012

Level 3 [Member]

Other Assets [Member]

Con Edison [Member]

Derivatives Assets [Member]

Sep. 30, 2012

Level 3 [Member]

Other Assets [Member]

CECONY [Member]

Dec. 31, 2011

Level 3 [Member]

Other Assets [Member]

CECONY [Member]

Sep. 30, 2012

Level 3 [Member]

Other Assets [Member]

CECONY [Member]

Derivatives Assets [Member]

Sep. 30, 2012

Level 3 [Member]

Interest Rate Contract [Member]

Con Edison [Member]

Dec. 31, 2011

Level 3 [Member]

Interest Rate Contract [Member]

Con Edison [Member]

Sep. 30, 2012

Level 3 [Member]

Interest Rate Contract [Member]

Con Edison [Member]

Derivatives Liabilities [Member]

Sep. 30, 2012

Netting Adjustments [Member]

Con Edison [Member]

Dec. 31, 2011

Netting Adjustments [Member]

Con Edison [Member]

Sep. 30, 2012

Netting Adjustments [Member]

CECONY [Member]

Dec. 31, 2011

Netting Adjustments [Member]

CECONY [Member]

Sep. 30, 2012

Netting Adjustments [Member]

Commodity [Member]

Con Edison [Member]

Dec. 31, 2011

Netting Adjustments [Member]

Commodity [Member]

Con Edison [Member]

Sep. 30, 2012

Netting Adjustments [Member]

Commodity [Member]

Con Edison [Member]

Derivatives Liabilities [Member]

Sep. 30, 2012

Netting Adjustments [Member]

Commodity [Member]

CECONY [Member]

Dec. 31, 2011

Netting Adjustments [Member]

Commodity [Member]

CECONY [Member]

Sep. 30, 2012

Netting Adjustments [Member]

Commodity [Member]

CECONY [Member]

Derivatives Liabilities [Member]

Sep. 30, 2012

Netting Adjustments [Member]

Other Assets [Member]

Con Edison [Member]

Sep. 30, 2012

Netting Adjustments [Member]

Other Assets [Member]

Con Edison [Member]

Derivatives Assets [Member]

Sep. 30, 2012

Netting Adjustments [Member]

Other Assets [Member]

CECONY [Member]

Sep. 30, 2012

Netting Adjustments [Member]

Other Assets [Member]

CECONY [Member]

Derivatives Assets [Member]

Fair Value Measurements Of Financial Instruments [Line Items]

Transfer in

$ 32

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

$ 105

^[1],[3]

$ 31

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

$ 95

^[1],[3]

$ 60

^[1],[3]

$ 22

^[1],[3]

$ 24

^[1],[3]

$ 8

^[1],[3]

$ 7

^[1],[3]

$ 7

^[1],[3]

$ 26

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

$ 105

^[1],[3]

$ 25

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

$ 95

^[1],[3]

$ 50

^[1],[3]

$ 12

^[1],[3]

$ 24

^[1],[3]

$ 8

^[1],[3]

$ 6

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

$ 6

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

$ 3

^[1],[3]

$ 3

^[1],[3]

Transfer out

(32)

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

(105)

^[1],[3]

(31)

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

(95)

^[1],[3]

(60)

^[1],[3]

(22)

^[1],[3]

(24)

^[1],[3]

(8)

^[1],[3]

(2)

^[1],[3]

(6)

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

(6)

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

(10)

^[1],[3]

(10)

^[1],[3]

(26)

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

(105)

^[1],[3]

(25)

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

(95)

^[1],[3]

(48)

^[1],[3]

(12)

^[1],[3]

(24)

^[1],[3]

(8)

^[1],[3]

Commodity Total

245

259

190

219

105

177

112

186

101

(46)

^[4]

(84)

^[4]

(3)

^[4]

(46)

^[4]

(3)

^[4]

Derivative assets

208

^[5]

192

^[5]

^[6]

175

^[5]

208

^[6]

166

^[5]

192

103

^[5]

^[6]

^[5]

103

^[6]

^[5]

105

^[5]

^[6]

^[5]

105

^[6]

^[5]

(84)

^[4],[6]

(46)

^[4],[6]

(3)

^[4],[6]

Total liabilities

217

122

242

160

141

157

(105)

^[4]

(194)

^[4]

(36)

^[4]

(41)

^[4]

Derivative liabilities

$ 209

^[6]

$ 122

^[6]

$ 84

$ 209

$ 84

^[6]

$ 42

$ 122

$ 42

^[6]

$ 6

$ 8

^[7]

$ 6

^[7]

$ 12

^[6]

$ 4

^[6]

$ 4

$ 12

$ 9

^[6]

$ 1

$ 4

$ 8

^[6]

$ 242

^[6]

$ 141

^[6]

$ 114

$ 222

$ 154

^[6]

$ 68

$ 122

$ 70

^[6]

$ (2)

$ 6

^[7]

$ 149

^[6]

$ 18

^[6]

$ 71

$ 169

$ 26

^[6]

$ 9

$ 37

$ 8

^[7]

$ (194)

^[4],[6]

$ (41)

^[4],[6]

$ (105)

^[4]

$ (194)

^[4]

$ (105)

^[4],[6]

$ (36)

^[4]

$ (41)

^[4]

$ (36)

^[4],[6]

[1]	The Companies' policy is to recognize transfers into and transfers out of the levels at the end of the reporting period.
[2]	Transferred from Level 3 to Level 2 because of availability of observable market data due to decrease in the terms of certain contracts from beyond one year as of December 31, 2010 to less than one year as of December 31, 2011.
[3]	Transferred between Level 3 and Levels 1 and 2 because of reassessment of the levels in the fair value hierarchy within which certain inputs fall. Other assets and interest rate contract were transferred as of March 31, 2012.
[4]	Amounts represent the impact of legally-enforceable master netting agreements that allow the Companies to net gain and loss positions and cash collateral held or placed with the same counterparties.
[5]	Other assets are comprised of assets such as life insurance contracts within the deferred compensation plan and non-qualified retirement plans.
[6]	A portion of the commodity derivatives categorized in Level 3 is valued using an internally developed model with observable inputs. The models also include some less readily observable inputs resulting in the classification of the entire contract as Level 3. See Note J.
[7]	See Note J.

Fair values as of the balance sheet date of all assets resulting from contracts that meet the criteria of being accounted for as derivative instruments, net of the effects of master netting arrangements.

+ References+ Details

Fair values as of the balance sheet date of all liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments, net of the effects of master netting arrangements.

+ References+ Details

Fair Value Measurements - Schedule of Commodity Derivatives (Detail) (USD $)
In Millions, unless otherwise specified

9 Months Ended

Sep. 30, 2012

Con Edison [Member] | Electricity Swaps [Member]

Discounted Cash Flow

Con Edison [Member] | Electricity Wholesale Contract [Member]

Discounted Cash Flow

Con Edison [Member] | Standard Offer Capacity Agreements [Member]

Discounted Cash Flow

Con Edison [Member] | Transmission Congestion Contracts Or Financial Transmission Rights [Member]

Discounted Cash Flow

Con Edison [Member] | Minimum [Member] | Forward prices [Member]

$ 22

^[1]

Con Edison [Member] | Minimum [Member] | Auction prices [Member]

^[2]

Con Edison [Member] | Minimum [Member] | New Jersey solar [Member]

^[2]

Con Edison [Member] | Minimum [Member] | Forward capacity prices [Member]

166

^[1]

Con Edison [Member] | Minimum [Member] | Forward price escalator [Member]

0.00%

^[1]

Con Edison [Member] | Minimum [Member] | Present value factor [Member]

1.66%

^[1]

Con Edison [Member] | Minimum [Member] | Discount to adjust auction prices for inter-zonal forward price curves [Member]

17.50%

^[2]

Con Edison [Member] | Minimum [Member] | Discount to adjust auction prices for historical monthly realized settlements [Member]

(3.00%)

^[2]

Con Edison [Member] | Minimum [Member] | Historical line loss factor [Member]

8.00%

^[1]

Con Edison [Member] | Maximum [Member] | Forward prices [Member]

^[1]

Con Edison [Member] | Maximum [Member] | Auction prices [Member]

^[2]

Con Edison [Member] | Maximum [Member] | Forward price escalator [Member]

(3.00%)

^[1]

Con Edison [Member] | Maximum [Member] | Discount to adjust auction prices for inter-zonal forward price curves [Member]

(38.00%)

^[2]

Con Edison [Member] | Maximum [Member] | Discount to adjust auction prices for historical monthly realized settlements [Member]

26.50%

^[2]

Con Edison [Member] | Level 3 [Member]

(3)

Con Edison [Member] | Level 3 [Member] | Electricity Swaps [Member]

(9)

Con Edison [Member] | Level 3 [Member] | Electricity Wholesale Contract [Member]

Con Edison [Member] | Level 3 [Member] | Standard Offer Capacity Agreements [Member]

(12)

Con Edison [Member] | Level 3 [Member] | Transmission Congestion Contracts Or Financial Transmission Rights [Member]

CECONY [Member] | Transmission Congestion Contracts [Member]

Discounted Cash Flow

CECONY [Member] | Minimum [Member] | Discount to adjust auction prices for inter-zonal forward price curves [Member]

17.50%

^[2]

CECONY [Member] | Minimum [Member] | Discount to adjust auction prices for historical monthly realized settlements [Member]

(3.00%)

^[2]

CECONY [Member] | Maximum [Member] | Discount to adjust auction prices for inter-zonal forward price curves [Member]

38.00%

^[2]

CECONY [Member] | Maximum [Member] | Discount to adjust auction prices for historical monthly realized settlements [Member]

26.50%

^[2]

CECONY [Member] | Level 3 [Member] | Transmission Congestion Contracts [Member]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

$ 12

[1]	Generally, increases/(decreases) in this input in isolation would result in a higher/(lower) fair value measurement.
[2]	Generally, increases/(decreases) in this input in isolation would result in a lower/(higher) fair value measurement.

Fair Value Measurements - Reconciliation Of Beginning And Ending Net Balances For Assets And Liabilities Measured At Level 3 Fair Value (Detail) (USD $)
In Millions, unless otherwise specified

3 Months Ended

9 Months Ended

Sep. 30, 2012

Sep. 30, 2011

Sep. 30, 2012

Sep. 30, 2011

Con Edison [Member]

$ (61)

$ 71

$ 29

$ 3

(15)

(41)

(95)

(62)

107

(76)

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

(3)

Con Edison [Member] | Commodity [Member]

(25)

(62)

(88)

(37)

(97)

(59)

106

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

(3)

(7)

(3)

(7)

Con Edison [Member] | Interest Rate Contract [Member]

(10)

(8)

(10)

(1)

(3)

Issuances

Sales

Settlements

^[1]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

(9)

Con Edison [Member] | Other Assets [Member]

106

^[2]

101

(3)

^[2]

(3)

^[2]

(1)

Issuances

^[2]

Sales

^[2]

(105)

^[1],[2]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

100

CECONY [Member]

(10)

(9)

(11)

(22)

(11)

(1)

(4)

(86)

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

104

CECONY [Member] | Commodity [Member]

(7)

(26)

(8)

(25)

(11)

(4)

^[1]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

CECONY [Member] | Other Assets [Member]

^[2]

(3)

^[2]

(2)

^[2]

(1)

Issuances

^[2]

Sales

^[2]

(95)

^[1],[2]