Document and Entity Information	9 Months Ended
Document and Entity Information	Sep. 30, 2014	Oct. 31, 2014
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2014
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	Q3
Trading Symbol	ED
Entity Registrant Name	CONSOLIDATED EDISON INC
Entity Central Index Key	0001047862
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		292,887,896
CECONY [Member]
Document Information [Line Items]
Entity Registrant Name	CONSOLIDATED EDISON CO OF NEW YORK INC
Entity Central Index Key	0000023632
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer

Consolidated Income Statement (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
OPERATING REVENUES
Electric	$ 2,786	$ 2,822	$ 7,158	$ 6,799
Gas	237	225	1,514	1,333
Steam	46	72	485	522
Non-utility	321	365	934	833
TOTAL OPERATING REVENUES	3,390	3,484	10,091	9,487
OPERATING EXPENSES
Purchased power	875	946	2,621	2,421
Fuel	41	56	231	261
Gas purchased for resale	76	74	627	443
Other operations and maintenance	857	795	2,483	2,400
Depreciation and amortization	270	258	796	764
Taxes, other than income taxes	452	500	1,419	1,431
TOTAL OPERATING EXPENSES	2,571	2,629	8,177	7,720
Gain on sale of solar energy projects			45
OPERATING INCOME	819	855	1,959	1,767
OTHER INCOME (DEDUCTIONS)
Investment and other income	28	8	53	19
Allowance for equity funds used during construction	1	1	4	2
Other deductions	(3)	(4)	(12)	(12)
TOTAL OTHER INCOME (DEDUCTIONS)	26	5	45	9
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE	845	860	2,004	1,776
INTEREST EXPENSE
Interest on long-term debt	145	145	438	433
Other interest	5	2	(1)	143
Allowance for borrowed funds used during construction		(1)	(2)	(1)
NET INTEREST EXPENSE	150	146	435	575
INCOME BEFORE INCOME TAX EXPENSE	695	714	1,569	1,201
INCOME TAX EXPENSE	259	250	559	373
NET INCOME FOR COMMON STOCK	436	464	1,010	828
Net income for common stock per common share - basic	$ 1.49	$ 1.58	$ 3.45	$ 2.83
Net income for common stock per common share - diluted	$ 1.48	$ 1.58	$ 3.44	$ 2.81
DIVIDENDS DECLARED PER SHARE OF COMMON STOCK	$ 0.630	$ 0.615	$ 1.890	$ 1.845
AVERAGE NUMBER OF SHARES OUTSTANDING - BASIC (IN MILLIONS)	292.9	292.9	292.9	292.9
AVERAGE NUMBER OF SHARES OUTSTANDING - DILUTED (IN MILLIONS)	294.0	294.3	294.0	294.3
CECONY [Member]
OPERATING REVENUES
Electric	2,582	2,622	6,635	6,309
Gas	210	199	1,359	1,190
Steam	46	72	485	522
TOTAL OPERATING REVENUES	2,838	2,893	8,479	8,021
OPERATING EXPENSES
Purchased power	573	624	1,707	1,548
Fuel	42	56	231	261
Gas purchased for resale	36	58	487	376
Other operations and maintenance	748	686	2,172	2,102
Depreciation and amortization	250	237	737	705
Taxes, other than income taxes	433	480	1,359	1,370
TOTAL OPERATING EXPENSES	2,082	2,141	6,693	6,362
OPERATING INCOME	756	752	1,786	1,659
OTHER INCOME (DEDUCTIONS)
Investment and other income	12	1	20	7
Allowance for equity funds used during construction	1	1	3	1
Other deductions	(3)	(3)	(10)	(10)
TOTAL OTHER INCOME (DEDUCTIONS)	10	(1)	13	(2)
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE	766	751	1,799	1,657
INTEREST EXPENSE
Interest on long-term debt	130	127	388	384
Other interest	4	1	11	12
Allowance for borrowed funds used during construction			(1)	(1)
NET INTEREST EXPENSE	134	128	398	395
INCOME BEFORE INCOME TAX EXPENSE	632	623	1,401	1,262
INCOME TAX EXPENSE	233	222	496	431
NET INCOME FOR COMMON STOCK	$ 399	$ 401	$ 905	$ 831

Consolidated Statement of Comprehensive Income (USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
NET INCOME	$ 436	$ 464	$ 1,010	$ 828
OTHER COMPREHENSIVE INCOME, NET OF TAXES
Pension and other postretirement benefit plan liability adjustments, net of taxes	1	2	6	7
TOTAL OTHER COMPREHENSIVE INCOME, NET OF TAXES	1	2	6	7
COMPREHENSIVE INCOME FOR COMMON STOCK	437	466	1,016	835
CECONY [Member]
NET INCOME	399	401	905	831
OTHER COMPREHENSIVE INCOME, NET OF TAXES
Pension and other postretirement benefit plan liability adjustments, net of taxes			1
TOTAL OTHER COMPREHENSIVE INCOME, NET OF TAXES	0	0	1	0
COMPREHENSIVE INCOME	$ 399	$ 401	$ 906	$ 831

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

+ References+ Details

Consolidated Statement of Cash Flows (USD $) In Millions, unless otherwise specified	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
OPERATING ACTIVITIES
NET INCOME	$ 1,010	$ 828
PRINCIPAL NON-CASH CHARGES/(CREDITS) TO INCOME
Depreciation and amortization	796	764
Deferred income taxes	424	116
Rate case amortization and accruals	77	1
Common equity component of allowance for funds used during construction	(4)	(2)
Net derivative gains	(14)	(6)
Pre-tax gains on termination of LILO transactions		(95)
Pre-tax gain on sale of solar energy projects	(45)
Other non-cash items (net)	10	46
CHANGES IN ASSETS AND LIABILITIES
Accounts receivable - customers, less allowance for uncollectibles	(35)	(51)
Special deposits	312	(305)
Materials and supplies, including fuel oil and gas in storage	19	(38)
Other receivables and other current assets	(7)	(8)
Prepayments	(508)	(362)
Accounts payable	54	(193)
Pensions and retiree benefits obligations (net)	612	665
Pensions and retiree benefits contributions	(584)	(887)
Accrued taxes	(428)	217
Accrued interest	(81)	171
Superfund and environmental remediation costs (net)	24	(6)
Deferred charges, noncurrent assets and other regulatory assets	(97)	(6)
Deferred credits and other regulatory liabilities	234	291
Other assets	(3)	51
Other liabilities	(15)	47
NET CASH FLOWS FROM OPERATING ACTIVITIES	1,751	1,238
INVESTING ACTIVITIES
Utility construction expenditures	(1,663)	(1,701)
Cost of removal less salvage	(168)	(144)
Non-utility construction expenditures	(152)	(149)
Investments in solar energy projects	(172)	(174)
Proceeds from grants related to solar energy projects	36	88
Proceeds from sale of solar energy projects	108
Restricted cash	15	(15)
Proceeds from the termination of LILO transactions		200
NET CASH FLOWS USED IN INVESTING ACTIVITIES	(1,996)	(1,895)
FINANCING ACTIVITIES
Net issuance of short-term debt	(26)	681
Issuance of long-term debt	850	919
Retirement of long-term debt	(478)	(707)
Debt issuance costs	(9)	(12)
Common stock dividends	(553)	(540)
Issuance of common shares for stock plans, net of repurchases	(8)	(4)
NET CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES	(224)	337
CASH AND TEMPORARY CASH INVESTMENTS:
NET CHANGE FOR THE PERIOD	(469)	(320)
BALANCE AT BEGINNING OF PERIOD	674	394
BALANCE AT END OF PERIOD	205	74
Cash paid during the period for:
Interest	382	372
Income taxes	635	27
CECONY [Member]
OPERATING ACTIVITIES
NET INCOME	905	831
PRINCIPAL NON-CASH CHARGES/(CREDITS) TO INCOME
Depreciation and amortization	737	705
Deferred income taxes	267	364
Rate case amortization and accruals	77	1
Common equity component of allowance for funds used during construction	(3)	(1)
Other non-cash items (net)	(11)	(72)
CHANGES IN ASSETS AND LIABILITIES
Accounts receivable - customers, less allowance for uncollectibles	(11)	(39)
Materials and supplies, including fuel oil and gas in storage	26	(26)
Other receivables and other current assets	(264)	(27)
Prepayments	(353)	(347)
Accounts payable	(47)	(180)
Pensions and retiree benefits obligations (net)	580	616
Pensions and retiree benefits contributions	(544)	(830)
Accrued taxes	(188)	(92)
Accrued interest	1	43
Superfund and environmental remediation costs (net)	27	(6)
Deferred charges, noncurrent assets and other regulatory assets	(100)	63
Deferred credits and other regulatory liabilities	218	302
Other liabilities	(11)	64
NET CASH FLOWS FROM OPERATING ACTIVITIES	1,306	1,369
INVESTING ACTIVITIES
Utility construction expenditures	(1,554)	(1,614)
Cost of removal less salvage	(163)	(139)
NET CASH FLOWS USED IN INVESTING ACTIVITIES	(1,717)	(1,753)
FINANCING ACTIVITIES
Net issuance of short-term debt	(9)	621
Issuance of long-term debt	850	700
Retirement of long-term debt	(475)	(700)
Debt issuance costs	(9)	(7)
Dividend to parent	(534)	(545)
NET CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES	(177)	69
CASH AND TEMPORARY CASH INVESTMENTS:
NET CHANGE FOR THE PERIOD	(588)	(315)
BALANCE AT BEGINNING OF PERIOD	633	353
BALANCE AT END OF PERIOD	45	38
Cash paid during the period for:
Interest	349	336
Income taxes	$ 749	$ 117

Consolidated Balance Sheet (USD $) In Millions, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
NON-UTILITY PROPERTY
Non-utility property, less accumulated depreciation	$ 349	$ 605
Construction work in progress	82	36
NET PLANT	29,239	28,436
OTHER NONCURRENT ASSETS
Goodwill	429	429
Intangible assets, less accumulated amortization of $5 and $4 in 2014 and 2013, respectively	3	4
Regulatory assets	6,552	7,201
Other deferred charges and noncurrent assets	185	225
TOTAL OTHER NONCURRENT ASSETS	7,169	7,859
TOTAL ASSETS	40,667	40,647
CURRENT ASSETS
Cash and temporary cash investments	205	674
Special deposits	8	327
Accounts receivable-customers, less allowance for uncollectible accounts	1,280	1,251
Other receivables, less allowance for uncollectible accounts	198	240
Accrued unbilled revenue	456	514
Fuel oil, gas in storage, materials and supplies, at average cost	343	363
Prepayments	644	136
Regulatory assets	14	29
Deferred tax assets - current	33	122
Other current assets	338	235
TOTAL CURRENT ASSETS	3,519	3,891
INVESTMENTS	740	461
UTILITY PLANT AT ORIGINAL COST
General	2,437	2,336
TOTAL	35,391	33,474
Less: Accumulated depreciation	7,482	7,072
Net	27,909	26,402
Construction work in progress	899	1,393
NET UTILITY PLANT	28,808	27,795
CURRENT LIABILITIES
Long-term debt due within one year	210	485
Notes payable	1,425	1,451
Accounts payable	972	1,017
Customer deposits	338	321
Accrued taxes	48	476
Accrued interest	164	249
Accrued wages	97	92
Fair value of derivative liabilities	7	13
Regulatory liabilities	194	148
Other current liabilities	418	478
TOTAL CURRENT LIABILITIES	3,873	4,730
NONCURRENT LIABILITIES
Obligations under capital leases	1	1
Provision for injuries and damages	188	195
Pensions and retiree benefits	1,106	1,727
Superfund and other environmental costs	734	749
Asset retirement obligations	150	143
Fair value of derivative liabilities	3	5
Deferred income taxes and investment tax credits	8,817	8,466
Regulatory liabilities	1,901	1,728
Other deferred credits and noncurrent liabilities	193	169
TOTAL NONCURRENT LIABILITIES	13,093	13,183
LONG-TERM DEBT	10,985	10,489
EQUITY
Common Shareholder's Equity (See Statement of Equity)	12,707	12,245
Noncontrolling interest	9
TOTAL EQUITY (See Statement of Equity)	12,716	12,245
TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY	40,667	40,647
CECONY [Member]
NON-UTILITY PROPERTY
Non-utility property, less accumulated depreciation	5	4
NET PLANT	27,103	26,150
OTHER NONCURRENT ASSETS
Regulatory assets	6,011	6,639
Other deferred charges and noncurrent assets	132	146
TOTAL OTHER NONCURRENT ASSETS	6,143	6,785
TOTAL ASSETS	36,488	36,258
CURRENT ASSETS
Cash and temporary cash investments	45	633
Special deposits	2	86
Accounts receivable-customers, less allowance for uncollectible accounts	1,134	1,123
Other receivables, less allowance for uncollectible accounts	120	127
Accrued unbilled revenue	364	405
Accounts receivable from affiliated companies	352	119
Fuel oil, gas in storage, materials and supplies, at average cost	274	300
Prepayments	455	102
Regulatory assets	12	26
Deferred tax assets - current	14	100
Other current assets	198	55
TOTAL CURRENT ASSETS	2,970	3,076
INVESTMENTS	272	247
UTILITY PLANT AT ORIGINAL COST
General	2,247	2,154
TOTAL	33,112	31,312
Less: Accumulated depreciation	6,846	6,469
Net	26,266	24,843
Construction work in progress	832	1,303
NET UTILITY PLANT	27,098	26,146
CURRENT LIABILITIES
Long-term debt due within one year		475
Notes payable	1,201	1,210
Accounts payable	737	824
Accounts payable to affiliated companies	26	45
Customer deposits	324	308
Accrued taxes	39	46
Accrued taxes to affiliated companies	232	413
Accrued interest	140	139
Accrued wages	92	82
Fair value of derivative liabilities	2	12
Regulatory liabilities	149	107
Other current liabilities	346	385
TOTAL CURRENT LIABILITIES	3,288	4,046
NONCURRENT LIABILITIES
Obligations under capital leases	1	1
Provision for injuries and damages	178	180
Pensions and retiree benefits	877	1,453
Superfund and other environmental costs	636	644
Asset retirement obligations	147	143
Fair value of derivative liabilities	2	3
Deferred income taxes and investment tax credits	8,041	7,832
Regulatory liabilities	1,738	1,598
Other deferred credits and noncurrent liabilities	145	145
TOTAL NONCURRENT LIABILITIES	11,765	11,999
LONG-TERM DEBT	10,216	9,366
EQUITY
Common Shareholder's Equity (See Statement of Equity)	11,219	10,847
TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY	36,488	36,258
Electric [Member]
UTILITY PLANT AT ORIGINAL COST
Utility plant, at original cost	24,776	23,450
Electric [Member] \| CECONY [Member]
UTILITY PLANT AT ORIGINAL COST
Utility plant, at original cost	23,309	22,073
Gas [Member]
UTILITY PLANT AT ORIGINAL COST
Utility plant, at original cost	5,945	5,494
Gas [Member] \| CECONY [Member]
UTILITY PLANT AT ORIGINAL COST
Utility plant, at original cost	5,323	4,891
Steam [Member]
UTILITY PLANT AT ORIGINAL COST
Utility plant, at original cost	2,233	2,194
Steam [Member] \| CECONY [Member]
UTILITY PLANT AT ORIGINAL COST
Utility plant, at original cost	$ 2,233	$ 2,194

Consolidated Balance Sheet (Parenthetical) (USD $) In Millions, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Accounts receivable - customers, allowance for uncollectible accounts	$ 97	$ 93
Other receivables, allowance for uncollectible accounts	13	10
Non-utility property, accumulated depreciation	87	90
Intangible assets, accumulated amortization	5	4
CECONY [Member]
Accounts receivable - customers, allowance for uncollectible accounts	90	87
Other receivables, allowance for uncollectible accounts	10	8
Non-utility property, accumulated depreciation	$ 25	$ 25

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]	Noncontrolling Interest [Member]
BALANCE at Dec. 31, 2012		$ 10,552		$ 589		$ 4,234		$ 6,761			$ (61)		$ (9)	$ (962)
BALANCE at Dec. 31, 2012	11,869		32		4,991		7,997		(1,037)	(61)		(53)
BALANCE (in shares) at Dec. 31, 2012			292,871,896	235,488,094					23,210,700
Net income for common stock	192						192
NET INCOME		277						277
Common stock dividends	(180)	(182)					(180)	(182)
Issuance of common shares for stock plans, net of repurchases	5				(2)				7
Issuance of common shares for stock plans, net of repurchases (in shares)			95,468
Issuance of common shares for stock plans, net of repurchases (in shares)									(95,468)
Other comprehensive income	3	0										3	0
BALANCE at Mar. 31, 2013	11,889		32		4,989		8,009		(1,030)	(61)		(50)
BALANCE at Mar. 31, 2013		10,647		589		4,234		6,856			(61)		(9)	(962)
BALANCE (in shares) at Mar. 31, 2013			292,967,364	235,488,094					23,115,232
BALANCE at Dec. 31, 2012		10,552		589		4,234					(61)			(962)
BALANCE at Dec. 31, 2012	11,869									(61)
BALANCE (in shares) at Dec. 31, 2012				235,488,094
Net income for common stock	828	831
NET INCOME	828	831
BALANCE at Sep. 30, 2013	12,166				4,990					(61)
BALANCE at Sep. 30, 2013		10,838		589		4,234					(61)		(9)	(962)
BALANCE (in shares) at Sep. 30, 2013				235,488,094
BALANCE at Mar. 31, 2013		10,647		589		4,234		6,856			(61)		(9)	(962)
BALANCE at Mar. 31, 2013	11,889		32		4,989		8,009		(1,030)	(61)		(50)
BALANCE (in shares) at Mar. 31, 2013			292,967,364	235,488,094					23,115,232
Net income for common stock	172						172
NET INCOME		153						153
Common stock dividends	(180)	(182)					(180)	(182)
Issuance of common shares for stock plans, net of repurchases					1				(1)
Issuance of common shares for stock plans, net of repurchases (in shares)			(4,078)
Issuance of common shares for stock plans, net of repurchases (in shares)									4,078
Other comprehensive income	2	0										2	0
BALANCE at Jun. 30, 2013	11,883		32		4,990		8,001		(1,031)	(61)		(48)
BALANCE at Jun. 30, 2013		10,618		589		4,234		6,827			(61)		(9)	(962)
BALANCE (in shares) at Jun. 30, 2013			292,963,286	235,488,094					23,119,310
Net income for common stock	464	401					464
NET INCOME	464	401						401
Common stock dividends	(180)	(181)					(180)	(181)
Issuance of common shares for stock plans, net of repurchases	(3)								(3)
Issuance of common shares for stock plans, net of repurchases (in shares)			(34,931)
Issuance of common shares for stock plans, net of repurchases (in shares)									34,931
Other comprehensive income	2											2
BALANCE at Sep. 30, 2013	12,166		32		4,990		8,285		(1,034)	(61)		(46)
BALANCE at Sep. 30, 2013		10,838		589		4,234		7,047			(61)		(9)	(962)
BALANCE (in shares) at Sep. 30, 2013			292,928,355	235,488,094					23,154,241
BALANCE at Dec. 31, 2013	12,245	10,847		589		4,234		7,053			(61)		(6)	(962)
BALANCE at Dec. 31, 2013	12,245		32		4,995		8,338		(1,034)	(61)		(25)
BALANCE (in shares) at Dec. 31, 2013			292,872,396	235,488,094					23,210,200
Net income for common stock	361						361
NET INCOME		334						334
Common stock dividends	(184)	(178)					(184)	(178)
Issuance of common shares for stock plans, net of repurchases					(2)				2
Issuance of common shares for stock plans, net of repurchases (in shares)			51,656
Issuance of common shares for stock plans, net of repurchases (in shares)									(51,656)
Other comprehensive income	4	1										4	1
BALANCE at Mar. 31, 2014	12,426		32		4,993		8,515		(1,032)	(61)		(21)
BALANCE at Mar. 31, 2014		11,004		589		4,234		7,209			(61)		(5)	(962)
BALANCE (in shares) at Mar. 31, 2014			292,924,052	235,488,094					23,158,544
BALANCE at Dec. 31, 2013	12,245	10,847		589		4,234					(61)			(962)
BALANCE at Dec. 31, 2013	12,245									(61)
BALANCE (in shares) at Dec. 31, 2013				235,488,094
Net income for common stock	1,010	905
NET INCOME	1,010	905
Noncontrolling interest	9														9
BALANCE at Sep. 30, 2014	12,716				4,993					(61)					9
BALANCE at Sep. 30, 2014	12,707	11,219		589		4,234					(61)		(5)	(962)
BALANCE (in shares) at Sep. 30, 2014				235,488,094
BALANCE at Mar. 31, 2014		11,004		589		4,234		7,209			(61)			(962)
BALANCE at Mar. 31, 2014	12,426		32				8,515		(1,032)	(61)		(21)
BALANCE (in shares) at Mar. 31, 2014			292,924,052	235,488,094					23,158,544
Net income for common stock	212						212
NET INCOME		172						172
Common stock dividends	(184)	(178)					(184)	(178)
Issuance of common shares for stock plans, net of repurchases (in shares)			(45,658)
Issuance of common shares for stock plans, net of repurchases (in shares)									45,658
Other comprehensive income	1	0										1
BALANCE at Jun. 30, 2014	12,455		32		4,993		8,543		(1,032)	(61)		(20)
BALANCE at Jun. 30, 2014		10,998		589		4,234		7,203			(61)		(5)	(962)
BALANCE (in shares) at Jun. 30, 2014			292,878,394	235,488,094					23,204,202
Net income for common stock	436	399					436
NET INCOME	436	399						399
Common stock dividends	(185)	(178)					(185)	(178)
Issuance of common shares for stock plans, net of repurchases (in shares)			(6,426)
Issuance of common shares for stock plans, net of repurchases (in shares)									6,426
Other comprehensive income	1											1
Noncontrolling interest	9														9
BALANCE at Sep. 30, 2014	12,716		32		4,993		8,794		(1,032)	(61)		(19)			9
BALANCE at Sep. 30, 2014	$ 12,707	$ 11,219		$ 589		$ 4,234		$ 7,424			$ (61)		$ (5)	$ (962)
BALANCE (in shares) at Sep. 30, 2014			292,871,968	235,488,094					23,210,628

General	9 Months Ended
General	Sep. 30, 2014
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, 2013 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, 2014 and June 30, 2014. 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 company which sells to retail customers electricity purchased in wholesale markets and enters into related hedging transactions and also provides energy-related products and services to retail customers; Consolidated Edison Energy, Inc. (Con Edison Energy), a company that provides energy-related products and services to wholesale customers; and Consolidated Edison Development, Inc. (Con Edison Development), a company that participates in energy 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, 2013 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, 2014 and June 30, 2014. 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 company which sells to retail customers electricity purchased in wholesale markets and enters into related hedging transactions and also provides energy-related products and services to retail customers; Consolidated Edison Energy, Inc. (Con Edison Energy), a company that provides energy-related products and services to wholesale customers; and Consolidated Edison Development, Inc. (Con Edison Development), a company that participates in energy infrastructure projects.

Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2014

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, 2014 and 2013, basic and diluted earnings per share (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)*	2014		2013		2014		2013
Net income for common stock	$	436	$	464	$	1,010	$	828
Weighted average common shares outstanding – basic		292.9		292.9		292.9		292.9
Add: Incremental shares attributable to effect of potentially dilutive securities		1.1		1.4		1.1		1.4
Adjusted weighted average common shares outstanding – diluted		294.0		294.3		294.0		294.3
Net Income for common stock per common share – basic	$	1.49	$	1.58	$	3.45	$	2.83
Net Income for common stock per common share – diluted	$	1.48	$	1.58	$	3.44	$	2.81

The computation of diluted EPS for the three and nine months ended September 30, 2014 and 2013 excludes immaterial amounts of performance share awards which were not included because of their anti-dilutive effect.

Changes in Accumulated Other Comprehensive Income by Component

For the three and nine months ended September 30, 2014 and 2013, changes to accumulated other comprehensive income (OCI) for Con Edison and CECONY are as follows:


	For the Three Months Ended September 30,
	Con Edison						CECONY
*(Millions of Dollars)*	2014			2013			2014			2013
Beginning balance, accumulated OCI, net of taxes	$	(20	)	$	(48	)	$	(5	)	$	(9	)
OCI before reclassifications, net of tax of $- and $- for both Con Edison and CECONY		—			—			—			—
Amounts reclassified from accumulated OCI related to pension and other postretirement benefit plan liabilities, net of tax of $1 and $1 for Con Edison and $- and $- for CECONY, respectively ^(a)(b)		1			2			—			—
Current period total OCI, net of taxes	$	1		$	2		$	—		$	—
Ending balance, accumulated OCI, net of taxes ^(b)	$	(19	)	$	(46	)	$	(5	)	$	(9	)

	For the Nine Months Ended September 30,
	Con Edison						CECONY
*(Millions of Dollars)*	2014			2013			2014			2013
Beginning balance, accumulated OCI, net of taxes	$	(25	)	$	(53	)	$	(6	)	$	(9	)
OCI before reclassifications, net of tax of $1 and $1 for Con Edison and $- and $- for CECONY, respectively		2			1			—			—
Amounts reclassified from accumulated OCI related to pension and other postretirement benefit plan liabilities, net of tax of $3 and $3 for Con Edison and $- and $- for CECONY, respectively ^(a)(b)		4			6			1			—
Current period total OCI, net of taxes	$	6		$	7		$	1		$	—
Ending balance, accumulated OCI, net of taxes ^(b)	$	(19	)	$	(46	)	$	(5	)	$	(9	)

(a)

For the portion of unrecognized pension and other postretirement benefit costs relating to the Utilities, costs are recorded into, and amortized out of, regulatory assets instead of OCI. The net actuarial losses and prior service costs recognized during the period are included in the computation of net periodic pension and other postretirement benefit cost. See Notes E and F.

(b)	Tax reclassified from accumulated OCI is reported in income tax expense.

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, 2014 and 2013, basic and diluted earnings per share (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)*	2014		2013		2014		2013
Net income for common stock	$	436	$	464	$	1,010	$	828
Weighted average common shares outstanding – basic		292.9		292.9		292.9		292.9
Add: Incremental shares attributable to effect of potentially dilutive securities		1.1		1.4		1.1		1.4
Adjusted weighted average common shares outstanding – diluted		294.0		294.3		294.0		294.3
Net Income for common stock per common share – basic	$	1.49	$	1.58	$	3.45	$	2.83
Net Income for common stock per common share – diluted	$	1.48	$	1.58	$	3.44	$	2.81

Changes in Accumulated Other Comprehensive Income by Component

For the three and nine months ended September 30, 2014 and 2013, changes to accumulated other comprehensive income (OCI) for Con Edison and CECONY are as follows:


	For the Three Months Ended September 30,
	Con Edison						CECONY
*(Millions of Dollars)*	2014			2013			2014			2013
Beginning balance, accumulated OCI, net of taxes	$	(20	)	$	(48	)	$	(5	)	$	(9	)
OCI before reclassifications, net of tax of $- and $- for both Con Edison and CECONY		—			—			—			—
Amounts reclassified from accumulated OCI related to pension and other postretirement benefit plan liabilities, net of tax of $1 and $1 for Con Edison and $- and $- for CECONY, respectively ^(a)(b)		1			2			—			—
Current period total OCI, net of taxes	$	1		$	2		$	—		$	—
Ending balance, accumulated OCI, net of taxes ^(b)	$	(19	)	$	(46	)	$	(5	)	$	(9	)

	For the Nine Months Ended September 30,
	Con Edison						CECONY
*(Millions of Dollars)*	2014			2013			2014			2013
Beginning balance, accumulated OCI, net of taxes	$	(25	)	$	(53	)	$	(6	)	$	(9	)
OCI before reclassifications, net of tax of $1 and $1 for Con Edison and $- and $- for CECONY, respectively		2			1			—			—
Amounts reclassified from accumulated OCI related to pension and other postretirement benefit plan liabilities, net of tax of $3 and $3 for Con Edison and $- and $- for CECONY, respectively ^(a)(b)		4			6			1			—
Current period total OCI, net of taxes	$	6		$	7		$	1		$	—
Ending balance, accumulated OCI, net of taxes ^(b)	$	(19	)	$	(46	)	$	(5	)	$	(9	)

(a)

(b)	Tax reclassified from accumulated OCI is reported in income tax expense.

- Definition

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

+ References+ Details

Regulatory Matters

9 Months Ended

Sep. 30, 2014

Regulatory Matters

Note B — Regulatory Matters

Rate Plans

In July 2014, the New Jersey Board of Public Utilities (NJBPU) approved an electric rate increase, effective August 1, 2014, of $13 million for O&R’s New Jersey regulated utility subsidiary, Rockland Electric Company (RECO). The new rates, among other things, reflect a return on common equity of 9.75 percent, a common equity ratio of approximately 50 percent and recovery of $25.6 million of deferred storm costs over a four-year period. The NJBPU continued provisions with respect to recovery from customers of the cost of purchased power and did not provide for reconciliation of actual expenses to amounts reflected in electric rates for pension and other postretirement benefit costs.

In September 2014, the Pennsylvania Public Utility Commission (PAPUC) approved an electric rate increase, effective September 15, 2014, of $1.25 million for O&R’s Pennsylvania regulated utility subsidiary, Pike County Light & Power Company (Pike). In August 2014, the PAPUC approved a gas rate increase, effective September 1, 2014, of $100,000 for Pike.

Other Regulatory Matters

In February 2009, the New York State Public Service Commission (NYSPSC) commenced a proceeding to examine the prudence of certain CECONY expenditures following the arrests of employees for accepting illegal payments from a construction contractor. Subsequently, additional employees were arrested for accepting illegal payments from materials suppliers and an engineering firm. The arrested employees were terminated by the company and have pled guilty or been convicted. 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. The amount of electric revenues collected subject to refund, which was established in a different proceeding, and the amount of gas and steam revenues collected subject to refund were not established as indicative of the company’s potential liability in this proceeding. At September 30, 2014, the company had collected an estimated $1,603 million from customers subject to potential refund in connection with this proceeding. In January 2013, a NYSPSC consultant reported its estimate, with which the company does not agree, of $208 million of overcharges with respect to a substantial portion of the company’s construction expenditures from January 2000 to January 2009. The company is disputing the consultant’s estimate, including its determinations as to overcharges regarding specific construction expenditures it selected to review and its methodology of extrapolating such determinations over a substantial portion of the construction expenditures during this period. The NYSPSC’s consultant has not reviewed the company’s other expenditures. The company and NYSPSC staff are exploring a settlement in this proceeding. In May 2014, the NYSPSC’s Chief Administrative Law Judge appointed a settlement judge to assist the parties. There is no assurance that there will be a settlement, and any settlement would be subject to NYSPSC approval. At September 30, 2014, the company had a $36 million regulatory liability relating to this matter. Included in the regulatory liability was $16 million the company recovered from vendors, arrested employees and insurers relating to this matter. Pursuant to the current rate plans, the company is applying $15 million of these recovered amounts for the benefit of customers to offset a like amount of regulatory assets. The company currently estimates that any additional amount the NYSPSC requires the company to refund to customers could range in amount from $25 million up to an amount based on the NYSPSC consultant’s $208 million estimate of overcharges.

In late October 2012, Superstorm Sandy caused extensive damage to the Utilities’ electric distribution system and interrupted service to approximately 1.4 million customers. Superstorm Sandy also damaged CECONY’s steam system and interrupted service to many of its steam customers. As of September 30, 2014, CECONY and O&R incurred response and restoration costs for Superstorm Sandy of $500 million and $91 million, respectively (including capital expenditures of $148 million and $15 million, respectively). Most of the costs that were not capitalized were deferred for recovery as a regulatory asset under the Utilities’ electric rate plans. See “Regulatory Assets and Liabilities” below. CECONY’s current electric rate plan includes collection from customers of deferred storm costs (including for Superstorm Sandy), subject to refund following NYSPSC review of the costs. O&R expects to request recovery of deferred storm costs for its New York electric operations, which are also subject to NYSPSC review, when it next files with the NYSPSC for a new electric rate plan. RECO’s current electric rate plan includes collection from customers of deferred storm costs. See “Rate Plans” above.

In June 2014, the NYSPSC initiated a proceeding to investigate the practices of qualifying persons to perform plastic fusions on gas facilities. New York State regulations require gas utilities to qualify and, except in certain circumstances, annually requalify workers that perform fusion to join plastic pipe. The NYSPSC directed the New York gas utilities to provide information in this proceeding about their compliance with the qualification and requalification requirements and related matters; their procedures for compliance with all gas safety regulations; and their annual chief executive officer certifications regarding these and other procedures. CECONY’s qualification and requalification procedures had not included certain required testing to evaluate specimen fuses. In addition, CECONY and O&R had not timely requalified certain workers that had been qualified under their respective procedures to perform fusion to join plastic pipe. CECONY and O&R have requalified their workers who perform fusion to join plastic pipe. In October 2014, CECONY and O&R submitted for NYSPSC staff review their plans for testing fusion to join plastic pipe that was performed on their gas delivery systems, additional leakage surveying and reporting.

Regulatory Assets and Liabilities

Regulatory assets and liabilities at September 30, 2014 and December 31, 2013 were comprised of the following items:


	Con Edison				CECONY
*(Millions of Dollars)*	2014		2013		2014		2013
Regulatory assets
Unrecognized pension and other postretirement costs	$	2,284	$	2,730	$	2,185	$	2,610
Future income tax		2,191		2,145		2,078		2,030
Environmental remediation costs		899		938		795		830
Deferred storm costs		348		441		252		334
Revenue taxes		218		207		207		196
Surcharge for New York State assessment		144		78		134		74
Pension and other postretirement benefits deferrals		83		237		57		211
Net electric deferrals		68		83		68		83
Unamortized loss on reacquired debt		59		65		57		62
Property tax reconciliation		32		22		—		—
O&R transition bond charges		28		33		—		—
Preferred stock redemption		27		28		27		28
Workers’ compensation		10		12		10		12
Deferred derivative losses – noncurrent		5		8		5		7
Other		156		174		136		162
Regulatory assets – noncurrent		6,552		7,201		6,011		6,639
Deferred derivative losses – current		13		25		12		22
Recoverable energy costs – current		1		4		—		4
Regulatory assets – current		14		29		12		26
Total Regulatory Assets	$	6,566	$	7,230	$	6,023	$	6,665
Regulatory liabilities
Allowance for cost of removal less salvage	$	572	$	540	$	475	$	453
Property tax reconciliation		294		322		294		322
Net unbilled revenue deferrals		120		133		120		133
2014 rate plan base rate revenue deferral		118		—		118		—
Property tax refunds		97		130		97		130
Long-term interest rate reconciliation		85		105		85		105
Carrying charges on repair allowance and bonus depreciation		80		98		64		87
New York State income tax rate change		61		—		57		—
Unrecognized other postretirement benefits costs		50		—		42		—
Pension and other postretirement benefits deferrals		49		50		41		50
World Trade Center settlement proceeds		46		62		46		62
Prudence proceeding		36		40		36		40
Carrying charges on T&D net plant – electric and steam		24		28		22		20
Electric excess earnings		21		22		20		18
Other		248		198		221		178
Regulatory liabilities – noncurrent		1,901		1,728		1,738		1,598
Refundable energy costs – current		118		100		82		66
Deferred derivative gains – current		39		14		31		11
Revenue decoupling mechanism		21		34		20		30
Future income tax		16		—		16		—
Regulatory liabilities – current		194		148		149		107
Total Regulatory Liabilities	$	2,095	$	1,876	$	1,887	$	1,705

CECONY [Member]

Regulatory Matters

Note B — Regulatory Matters

Rate Plans

Other Regulatory Matters

Regulatory Assets and Liabilities

Regulatory assets and liabilities at September 30, 2014 and December 31, 2013 were comprised of the following items:


	Con Edison				CECONY
*(Millions of Dollars)*	2014		2013		2014		2013
Regulatory assets
Unrecognized pension and other postretirement costs	$	2,284	$	2,730	$	2,185	$	2,610
Future income tax		2,191		2,145		2,078		2,030
Environmental remediation costs		899		938		795		830
Deferred storm costs		348		441		252		334
Revenue taxes		218		207		207		196
Surcharge for New York State assessment		144		78		134		74
Pension and other postretirement benefits deferrals		83		237		57		211
Net electric deferrals		68		83		68		83
Unamortized loss on reacquired debt		59		65		57		62
Property tax reconciliation		32		22		—		—
O&R transition bond charges		28		33		—		—
Preferred stock redemption		27		28		27		28
Workers’ compensation		10		12		10		12
Deferred derivative losses – noncurrent		5		8		5		7
Other		156		174		136		162
Regulatory assets – noncurrent		6,552		7,201		6,011		6,639
Deferred derivative losses – current		13		25		12		22
Recoverable energy costs – current		1		4		—		4
Regulatory assets – current		14		29		12		26
Total Regulatory Assets	$	6,566	$	7,230	$	6,023	$	6,665
Regulatory liabilities
Allowance for cost of removal less salvage	$	572	$	540	$	475	$	453
Property tax reconciliation		294		322		294		322
Net unbilled revenue deferrals		120		133		120		133
2014 rate plan base rate revenue deferral		118		—		118		—
Property tax refunds		97		130		97		130
Long-term interest rate reconciliation		85		105		85		105
Carrying charges on repair allowance and bonus depreciation		80		98		64		87
New York State income tax rate change		61		—		57		—
Unrecognized other postretirement benefits costs		50		—		42		—
Pension and other postretirement benefits deferrals		49		50		41		50
World Trade Center settlement proceeds		46		62		46		62
Prudence proceeding		36		40		36		40
Carrying charges on T&D net plant – electric and steam		24		28		22		20
Electric excess earnings		21		22		20		18
Other		248		198		221		178
Regulatory liabilities – noncurrent		1,901		1,728		1,738		1,598
Refundable energy costs – current		118		100		82		66
Deferred derivative gains – current		39		14		31		11
Revenue decoupling mechanism		21		34		20		30
Future income tax		16		—		16		—
Regulatory liabilities – current		194		148		149		107
Total Regulatory Liabilities	$	2,095	$	1,876	$	1,887	$	1,705

Capitalization

9 Months Ended

Sep. 30, 2014

Capitalization

Note C — Capitalization

In February 2014, CECONY redeemed at maturity $200 million of 4.70 percent 10-year debentures. In March 2014, CECONY issued $850 million aggregate principal amount of 4.45 percent 30-year debentures. In April 2014, CECONY redeemed at maturity $275 million of 5.55 percent 5-year debentures. In May 2014, Con Edison deconsolidated $217 million of long-term debt of a subsidiary in which Con Edison Development sold a 50 percent interest. See Note N.

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


*(Millions of Dollars)*	September 30, 2014				December 31, 2013
Long-Term Debt (including current portion)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Con Edison	$	11,195	$	12,696	$	10,974	$	12,082
CECONY	$	10,216	$	11,537	$	9,841	$	10,797

Fair values of long-term debt have been estimated primarily using available market information. For Con Edison, $12,060 million and $636 million of the fair value of long-term debt at September 30, 2014 are classified as Level 2 and Level 3, respectively. For CECONY, $10,901 million and $636 million of the fair value of long-term debt at September 30, 2014 are classified as Level 2 and Level 3, respectively (see Note M). 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, 2014				December 31, 2013
Long-Term Debt (including current portion)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Con Edison	$	11,195	$	12,696	$	10,974	$	12,082
CECONY	$	10,216	$	11,537	$	9,841	$	10,797

Short-Term Borrowing	9 Months Ended
Short-Term Borrowing	Sep. 30, 2014
Short-Term Borrowing	Note D — Short-Term Borrowing At September 30, 2014, Con Edison had $1,425 million of commercial paper outstanding of which $1,201 million was outstanding under CECONY’s program. The weighted average interest rate was 0.2 percent for both Con Edison and CECONY. At December 31, 2013, Con Edison had $1,451 million of commercial paper outstanding of which $1,210 million was outstanding under CECONY’s program. The weighted average interest rate was 0.2 percent for both Con Edison and CECONY. At September 30, 2014 and December 31, 2013, no loans were outstanding under the Companies’ credit agreement and $11 million and $26 million (including $11 million in both periods for CECONY) of letters of credit were outstanding, respectively, under the credit agreement.
CECONY [Member]
Short-Term Borrowing	Note D — Short-Term Borrowing At September 30, 2014, Con Edison had $1,425 million of commercial paper outstanding of which $1,201 million was outstanding under CECONY’s program. The weighted average interest rate was 0.2 percent for both Con Edison and CECONY. At December 31, 2013, Con Edison had $1,451 million of commercial paper outstanding of which $1,210 million was outstanding under CECONY’s program. The weighted average interest rate was 0.2 percent for both Con Edison and CECONY. At September 30, 2014 and December 31, 2013, no loans were outstanding under the Companies’ credit agreement and $11 million and $26 million (including $11 million in both periods for CECONY) of letters of credit were outstanding, respectively, under the credit agreement.

- Definition

The entire disclosure for short-term debt.

+ References+ Details

Pension Benefits

9 Months Ended

Sep. 30, 2014

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, 2014 and 2013 were as follows:


	For the Three Months Ended September 30,
	Con Edison						CECONY
*(Millions of Dollars)*	2014			2013			2014			2013
Service cost – including administrative expenses	$	57		$	67		$	53		$	62
Interest cost on projected benefit obligation		143			134			134			126
Expected return on plan assets		(208	)		(187	)		(198	)		(178	)
Recognition of net actuarial loss		154			208			146			197
Recognition of prior service costs		1			1			1			1
NET PERIODIC BENEFIT COST	$	147		$	223		$	136		$	208
Amortization of regulatory asset		1			1			1			1
TOTAL PERIODIC BENEFIT COST	$	148		$	224		$	137		$	209
Cost capitalized		(57	)		(86	)		(54	)		(78	)
Reconciliation to rate level		30			(31	)		28			(34	)
Cost charged to operating expenses	$	121		$	107		$	111		$	97


	For the Nine Months Ended September 30,
	Con Edison						CECONY
*(Millions of Dollars)*	2014			2013			2014			2013
Service cost – including administrative expenses	$	170		$	200		$	158		$	186
Interest cost on projected benefit obligation		429			403			402			377
Expected return on plan assets		(624	)		(563	)		(592	)		(534	)
Recognition of net actuarial loss		464			624			439			591
Recognition of prior service costs		3			4			2			3
NET PERIODIC BENEFIT COST	$	442		$	668		$	409		$	623
Amortization of regulatory asset		2			2			2			2
TOTAL PERIODIC BENEFIT COST	$	444		$	670		$	411		$	625
Cost capitalized		(166	)		(256	)		(156	)		(241	)
Reconciliation to rate level		86			(55	)		78			(56	)
Cost charged to operating expenses	$	364		$	359		$	333		$	328

Contributions

The Companies made contributions to the pension plan during 2014 of $564 million (of which $524 million was contributed by CECONY). The Companies’ policy is to fund their accounting cost to the extent tax deductible. During the first nine months of 2014, CECONY also funded $13 million for the non-qualified supplemental plans.

Mortality Table Revision

In October 2014, the Society of Actuaries issued revised mortality tables for use in estimating pension and other postretirement benefit plan obligations, accounting costs and required contribution amounts. The new mortality tables indicate substantial life expectancy improvements since the last tables published in 2000 (RP 2000). These improvements are expected to result in significant increases in future pension and other postretirement benefit plan obligations, accounting costs, and required contribution amounts for many plan sponsors. The Companies are currently evaluating the impact of the revised mortality tables on the December 31, 2014 plan obligations, future accounting costs and expected plan contributions. The Utilities, under their current New York rate plans, defer as a regulatory asset or liability, as the case may be, the differences between the actual level of expenses for pension and other postretirement benefits and amounts for those expenses reflected in rates.

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, 2014 and 2013 were as follows:


	For the Three Months Ended September 30,
	Con Edison						CECONY
*(Millions of Dollars)*	2014			2013			2014			2013
Service cost – including administrative expenses	$	57		$	67		$	53		$	62
Interest cost on projected benefit obligation		143			134			134			126
Expected return on plan assets		(208	)		(187	)		(198	)		(178	)
Recognition of net actuarial loss		154			208			146			197
Recognition of prior service costs		1			1			1			1
NET PERIODIC BENEFIT COST	$	147		$	223		$	136		$	208
Amortization of regulatory asset		1			1			1			1
TOTAL PERIODIC BENEFIT COST	$	148		$	224		$	137		$	209
Cost capitalized		(57	)		(86	)		(54	)		(78	)
Reconciliation to rate level		30			(31	)		28			(34	)
Cost charged to operating expenses	$	121		$	107		$	111		$	97


	For the Nine Months Ended September 30,
	Con Edison						CECONY
*(Millions of Dollars)*	2014			2013			2014			2013
Service cost – including administrative expenses	$	170		$	200		$	158		$	186
Interest cost on projected benefit obligation		429			403			402			377
Expected return on plan assets		(624	)		(563	)		(592	)		(534	)
Recognition of net actuarial loss		464			624			439			591
Recognition of prior service costs		3			4			2			3
NET PERIODIC BENEFIT COST	$	442		$	668		$	409		$	623
Amortization of regulatory asset		2			2			2			2
TOTAL PERIODIC BENEFIT COST	$	444		$	670		$	411		$	625
Cost capitalized		(166	)		(256	)		(156	)		(241	)
Reconciliation to rate level		86			(55	)		78			(56	)
Cost charged to operating expenses	$	364		$	359		$	333		$	328

Contributions

Mortality Table Revision

- Definition

The entire disclosure for pension and other postretirement benefits.

+ References+ Details

Other Postretirement Benefits

9 Months Ended

Sep. 30, 2014

Other Postretirement Benefits

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, 2014 and 2013 were as follows:


	For the Three Months Ended September 30,
	Con Edison						CECONY
*(Millions of Dollars)*	2014			2013			2014			2013
Service cost	$	5		$	6		$	4		$	5
Interest cost on accumulated other postretirement benefit obligation		15			13			13			12
Expected return on plan assets		(19	)		(19	)		(17	)		(17	)
Recognition of net actuarial loss		14			16			13			14
Recognition of prior service cost		(5	)		(7	)		(4	)		(6	)
NET PERIODIC POSTRETIREMENT BENEFIT COST	$	10		$	9		$	9		$	8
Cost capitalized		(4	)		(3	)		(4	)		(3	)
Reconciliation to rate level		3			14			1			12
Cost charged to operating expenses	$	9		$	20		$	6		$	17


	For the Nine Months Ended September 30,
	Con Edison						CECONY
*(Millions of Dollars)*	2014			2013			2014			2013
Service cost	$	14		$	18		$	11		$	14
Interest cost on accumulated other postretirement benefit obligation		45			40			39			34
Expected return on plan assets		(58	)		(58	)		(51	)		(51	)
Recognition of net actuarial loss		43			48			38			43
Recognition of prior service cost		(14	)		(20	)		(11	)		(17	)
NET PERIODIC POSTRETIREMENT BENEFIT COST	$	30		$	28		$	26		$	23
Cost capitalized		(11	)		(10	)		(10	)		(9	)
Reconciliation to rate level		8			43			2			37
Cost charged to operating expenses	$	27		$	61		$	18		$	51

Contributions

The Companies made a contribution of $7 million, nearly all of which is for CECONY, to the other postretirement benefit plans in 2014.

Environmental Matters

9 Months Ended

Sep. 30, 2014

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, 2014 and December 31, 2013 were as follows:


	Con Edison				CECONY
*(Millions of Dollars)*	2014		2013		2014		2013
Accrued Liabilities:
Manufactured gas plant sites		$655		$665		$558		$562
Other Superfund Sites		79		84		78		82
Total		$734		$749		$636		$644
Regulatory assets		$899		$938		$795		$830

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 plans, the Utilities are permitted to recover or defer as regulatory assets (for subsequent recovery through rates) certain site investigation and remediation costs.

Environmental remediation costs incurred and insurance recoveries received related to Superfund Sites for the three and nine months ended September 30, 2014 and 2013 were as follows:


	For the Three Months Ended September 30,
	Con Edison				CECONY
(Millions of Dollars)	2014		2013		2014		2013
Remediation costs incurred		$5		$10		$2		$10
Insurance recoveries received		—		—		—		—


	For the Nine Months Ended September 30,
	Con Edison				CECONY
(Millions of Dollars)	2014		2013		2014		2013
Remediation costs incurred		$19		$35		$12		$30
Insurance recoveries received*		$5		—		$5		—
* Reduced amount deferred for recovery from customers

In 2013, 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 $2.4 billion. In 2013, 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 $167 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 2013, Con Edison and CECONY estimated that their aggregate undiscounted potential liability for these suits and additional suits that may be brought over the next 15 years was $8 million and $7 million, respectively. The estimates were based upon a combination of modeling, historical data analysis and risk factor assessment. 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 plans, CECONY is permitted to defer as regulatory assets (for subsequent recovery through rates) costs incurred for its asbestos lawsuits and workers’ compensation claims. In the Companies’ estimation, there is not a reasonable possibility that an exposure to loss exists for the asbestos proceedings that is materially in excess of the estimated liability accrued. 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, 2014 and December 31, 2013 were as follows:


	Con Edison				CECONY
*(Millions of Dollars)*	2014		2013		2014		2013
Accrued liability – asbestos suits	$	8	$	8	$	7	$	7
Regulatory assets – asbestos suits	$	8	$	8	$	7	$	7
Accrued liability – workers’ compensation	$	86	$	87	$	81	$	82
Regulatory assets – workers’ compensation	$	10	$	12	$	10	$	12

CECONY [Member]

Environmental Matters

Note G — Environmental Matters

Superfund Sites

The accrued liabilities and regulatory assets related to Superfund Sites at September 30, 2014 and December 31, 2013 were as follows:


	Con Edison				CECONY
*(Millions of Dollars)*	2014		2013		2014		2013
Accrued Liabilities:
Manufactured gas plant sites		$655		$665		$558		$562
Other Superfund Sites		79		84		78		82
Total		$734		$749		$636		$644
Regulatory assets		$899		$938		$795		$830

Environmental remediation costs incurred and insurance recoveries received related to Superfund Sites for the three and nine months ended September 30, 2014 and 2013 were as follows:


	For the Three Months Ended September 30,
	Con Edison				CECONY
(Millions of Dollars)	2014		2013		2014		2013
Remediation costs incurred		$5		$10		$2		$10
Insurance recoveries received		—		—		—		—


	For the Nine Months Ended September 30,
	Con Edison				CECONY
(Millions of Dollars)	2014		2013		2014		2013
Remediation costs incurred		$19		$35		$12		$30
Insurance recoveries received*		$5		—		$5		—
* Reduced amount deferred for recovery from customers

Asbestos Proceedings


	Con Edison				CECONY
*(Millions of Dollars)*	2014		2013		2014		2013
Accrued liability – asbestos suits	$	8	$	8	$	7	$	7
Regulatory assets – asbestos suits	$	8	$	8	$	7	$	7
Accrued liability – workers’ compensation	$	86	$	87	$	81	$	82
Regulatory assets – workers’ compensation	$	10	$	12	$	10	$	12

- Definition

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, 2014

Other Material Contingencies

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 90 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 notified its insurers of the incident and believes that the policies in force at the time of the incident will cover the company’s costs to satisfy its liability to others in connection with the suits. In the company’s estimation, there is not a reasonable possibility that an exposure to loss exists for the suits that is materially in excess of the estimated liability accrued. At September 30, 2014, the company had accrued its estimated liability for the suits of $50 million and an insurance receivable in the same amount.

Manhattan Explosion and Fire

On March 12, 2014, two multi-use five-story tall buildings located on Park Avenue between 116^th and 117^th Street in Manhattan were destroyed by an explosion and fire. CECONY had delivered gas to the buildings through service lines from a distribution main located below ground on Park Avenue. Eight people died and more than 48 people were injured. Additional buildings were also damaged. The National Transportation Safety Board is investigating. The parties to the investigation include the company, the City of New York, the Pipeline and Hazardous Materials Safety Administration and the NYSPSC (which is also conducting an investigation). Approximately 20 suits are pending against the company seeking generally unspecified damages for personal injury and property damage. The company has notified its insurers of the incident and believes that the policies in force at the time of the incident will cover the company’s costs, in excess of a required retention (the amount of which is not material), to satisfy any liability it may have for damages in connection with the incident. The company is unable to estimate the amount or range of its possible loss related to the incident. At September 30, 2014, the company had not accrued a liability for the incident.

Other Contingencies

See “Other Regulatory Matters” in Note B.

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 $1,418 million and $1,331 million at September 30, 2014 and December 31, 2013, respectively.

A summary, by type and term, of Con Edison’s total guarantees at September 30, 2014 is as follows:


Guarantee Type	0 – 3 years		4 – 10 years		> 10 years		Total
	*(Millions of Dollars)*
Energy transactions	$	760	$	25	$	96	$	881
Solar energy projects		507		—		—		507
Other		30		—		—		30
Total	$	1,297	$	25	$	96	$	1,418

Energy Transactions — Con Edison guarantees payments on behalf of its competitive energy businesses in order to facilitate physical and financial transactions in natural gas, pipeline capacity, transportation, oil, electricity, renewable energy credits 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.

Solar Energy Projects — Con Edison and Con Edison Development guarantee payments associated with the investment in solar energy facilities on behalf of their wholly-owned subsidiaries. In addition, Con Edison Development has entered into two guarantees ($78 million maximum and $69 million maximum, respectively) on behalf of two entities in which it has a 50 percent interest in connection with the construction of solar energy facilities. Con Edison Development also provided $3 million in guarantees to Travelers Insurance Company for indemnity agreements for surety bonds in connection with the construction and operation of solar energy facilities performed by its subsidiaries.

Other — Other guarantees primarily relate to 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 ($25 million). In addition, Con Edison issued a guarantee to the Public Utility Commission of Texas covering obligations of Con Edison Solutions as a retail electric provider. Con Edison’s estimate of the maximum potential obligation for this guarantee is $5 million as of September 30, 2014.

CECONY [Member]

Other Material Contingencies

Note H — Other Material Contingencies

Manhattan Steam Main Rupture

Manhattan Explosion and Fire

Other Contingencies

See “Other Regulatory Matters” in Note B.

Guarantees

A summary, by type and term, of Con Edison’s total guarantees at September 30, 2014 is as follows:


Guarantee Type	0 – 3 years		4 – 10 years		> 10 years		Total
	*(Millions of Dollars)*
Energy transactions	$	760	$	25	$	96	$	881
Solar energy projects		507		—		—		507
Other		30		—		—		30
Total	$	1,297	$	25	$	96	$	1,418

- Definition

The entire disclosure for commitments and contingencies.

+ References+ Details

Lease In/Lease Out Transactions

9 Months Ended

Sep. 30, 2014

Lease In/Lease Out Transactions

Note I — Lease In/Lease Out Transactions

As a result of the January 2013 Court of Appeals decision, in March 2013, Con Edison recorded an after-tax charge of $150 million to reflect, as required by the accounting rules for leveraged lease transactions, the recalculation of the accounting effect of its 1997 and 1999 Lease in/Lease Out (LILO) transactions based on the revised after-tax cash flows projected from the inception of the leveraged leases, as well as the interest on the potential tax liability resulting from the disallowance of federal and state income tax losses with respect to the LILO transactions. In the second and third quarters of 2013, the 1999 and the 1997 LILO transactions were terminated, as a result of which the company realized a $29 million gain (after-tax) and a $26 million gain (after-tax), respectively. In the first quarter of 2014, the interest accrued on the liability was reduced by $13 million ($7 million, net of tax).

The effect of the LILO transactions on Con Edison’s consolidated income statement for the three and nine months ended as of September 30, 2014 and 2013 was as follows:


	For the Three Months Ended September 30,					For the Nine Months Ended September 30,
*(Millions of Dollars)*	2014		2013			2014			2013
Increase/(decrease) to non-utility operating revenues	$	—	$	44		$	—		$	(27	)
(Increase)/decrease to other interest expense		—		—			13			(131	)
Income tax benefit/(expense)		—		(18	)		(6	)		63
Total increase/(decrease) in net income	$	—	$	26		$	7		$	(95	)

In January 2013, to defray interest charges, the company deposited $447 million with federal and state tax agencies relating primarily to the potential tax liability from the LILO transactions in past tax years and interest thereon. During 2013, $125 million of the deposit was returned from the Internal Revenue Service (IRS) at the company’s request. Also in 2013, the deposit balance was reduced by an additional $48 million, due to a $10 million refund from the IRS and the application of $38 million toward the settlement of tax and interest for certain tax years, primarily relating to tax liability from the LILO transactions. In the first quarter of 2014, Con Edison applied the remainder of the deposit against its federal and state tax liabilities, including interest.

CECONY [Member]

Lease In/Lease Out Transactions

Note I — Lease In/Lease Out Transactions

The effect of the LILO transactions on Con Edison’s consolidated income statement for the three and nine months ended as of September 30, 2014 and 2013 was as follows:


	For the Three Months Ended September 30,					For the Nine Months Ended September 30,
*(Millions of Dollars)*	2014		2013			2014			2013
Increase/(decrease) to non-utility operating revenues	$	—	$	44		$	—		$	(27	)
(Increase)/decrease to other interest expense		—		—			13			(131	)
Income tax benefit/(expense)		—		(18	)		(6	)		63
Total increase/(decrease) in net income	$	—	$	26		$	7		$	(95	)

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

+ References+ Details

Income Tax	9 Months Ended
Income Tax	Sep. 30, 2014
Income Tax	Note J — Income Tax Con Edison’s income tax expense increased to $259 million for the three months ended September 30, 2014 from $250 million for the three months ended September 30, 2013. The effective tax rate for the three months ended September 30, 2014 and 2013 was 37 percent and 35 percent, respectively. The increase in the effective tax rate was primarily attributable to the reduction in liabilities for uncertain tax positions recorded in the third quarter of 2013 (see “Uncertain Tax Positions” below) and lower favorable tax adjustments related to flow-through federal income tax benefits associated with plant and renewable energy credits recorded in conjunction with filing Con Edison’s consolidated federal tax return in September of 2014. Con Edison’s income tax expense increased to $559 million for the nine months ended September 30, 2014 from $373 million for the nine months ended September 30, 2013. The effective tax rate for the nine months ended September 30, 2014 and 2013 was 36 percent and 31 percent, respectively. The increase in the effective tax rate was primarily attributable to the tax items discussed above and the IRS acceptance in the first quarter of 2013 of the Company’s claim for a manufacturing tax deduction, which reduced the 2013 income tax expense by $15 million. Additionally, the effective tax rate is impacted by consistent flow-through items relative to lower consolidated income before income tax expense for Con Edison for the nine months ended September 30, 2013, compared to the same period in 2014. CECONY’s income tax expense increased to $233 million for the three months ended September 30, 2014 from $222 million for the three months ended September 30, 2013. The effective tax rate for the three months ended September 30, 2014 and 2013 was 37 percent and 36 percent, respectively. CECONY’s income tax expense increased to $496 million for the nine months ended September 30, 2014 from $431 million for the nine months ended September 30, 2013. The effective tax rate for the nine months ended September 30, 2014 and 2013 was 35 percent and 34 percent, respectively. The increases in the effective tax rate for the three and nine months ended September 30, 2014, was primarily attributable to lower favorable tax adjustments related to flow-through federal income tax benefits associated with plant recorded in conjunction with filing CECONY’s federal tax return in September of 2014. In March 2014, tax legislation was enacted in the State of New York that reduces the corporate franchise tax rate from 7.1 percent to 6.5 percent, beginning January 1, 2016. The application of this legislation decreased Con Edison’s accumulated deferred tax liabilities by $72 million ($67 million for CECONY), decreased Con Edison’s regulatory asset for future income tax by $11 million ($10 million for CECONY) and increased Con Edison’s regulatory liability by $61 million ($57 million for CECONY). The impact of this tax legislation on Con Edison’s effective tax rate was not material, and there was no impact on CECONY’s effective tax rate for the nine months ended September 30, 2014. Uncertain Tax Positions In the third quarter of 2013, the IRS completed its audits for the tax years 1998 through 2011 and the Companies recognized approximately $13 million of income tax benefits ($7 million for CECONY), including $6 million that favorably affected Con Edison’s effective tax rate for the three and nine months ended September 30, 2013. In 2014 following the conclusion of its IRS audit, Con Edison filed amended state tax returns for tax years 1998 through 2011. As a result of positions taken on the amended state tax returns, Con Edison increased its estimated liabilities for uncertain tax positions by $25 million. The amended returns contain uncertain tax positions unique to the states, and the returns remain open for examination. At September 30, 2014, the estimated liability for uncertain tax positions for Con Edison was $34 million ($2 million for CECONY) and was reflected as a noncurrent liability on its consolidated balance sheet. The Companies recognize interest on liabilities for uncertain tax positions in interest expense and would recognize penalties, if any, in operating expenses in the Companies’ consolidated income statements. In the nine months ended September 30, 2014, Con Edison recognized an immaterial amount of interest expense and no penalties for uncertain tax positions in its consolidated income statements. At September 30, 2014 and December 31, 2013, Con Edison recognized an immaterial amount of accrued interest on its consolidated balance sheets. As of September 30, 2014, Con Edison reasonably expects to resolve approximately $25 million ($16 million, net of federal taxes) of its uncertainties related to certain tax matters within the next twelve months, of which the entire amount, if recognized, would reduce Con Edison’s effective tax rate. The amount related to CECONY is approximately $2 million ($1 million, net of federal taxes), of which the entire amount, if recognized, would reduce CECONY’s effective tax rate. The total amount of unrecognized tax benefits, if recognized, that would reduce Con Edison’s effective tax rate is $34 million ($22 million, net of federal taxes).
CECONY [Member]
Income Tax	Note J — Income Tax Con Edison’s income tax expense increased to $259 million for the three months ended September 30, 2014 from $250 million for the three months ended September 30, 2013. The effective tax rate for the three months ended September 30, 2014 and 2013 was 37 percent and 35 percent, respectively. The increase in the effective tax rate was primarily attributable to the reduction in liabilities for uncertain tax positions recorded in the third quarter of 2013 (see “Uncertain Tax Positions” below) and lower favorable tax adjustments related to flow-through federal income tax benefits associated with plant and renewable energy credits recorded in conjunction with filing Con Edison’s consolidated federal tax return in September of 2014. Con Edison’s income tax expense increased to $559 million for the nine months ended September 30, 2014 from $373 million for the nine months ended September 30, 2013. The effective tax rate for the nine months ended September 30, 2014 and 2013 was 36 percent and 31 percent, respectively. The increase in the effective tax rate was primarily attributable to the tax items discussed above and the IRS acceptance in the first quarter of 2013 of the Company’s claim for a manufacturing tax deduction, which reduced the 2013 income tax expense by $15 million. Additionally, the effective tax rate is impacted by consistent flow-through items relative to lower consolidated income before income tax expense for Con Edison for the nine months ended September 30, 2013, compared to the same period in 2014. CECONY’s income tax expense increased to $233 million for the three months ended September 30, 2014 from $222 million for the three months ended September 30, 2013. The effective tax rate for the three months ended September 30, 2014 and 2013 was 37 percent and 36 percent, respectively. CECONY’s income tax expense increased to $496 million for the nine months ended September 30, 2014 from $431 million for the nine months ended September 30, 2013. The effective tax rate for the nine months ended September 30, 2014 and 2013 was 35 percent and 34 percent, respectively. The increases in the effective tax rate for the three and nine months ended September 30, 2014, was primarily attributable to lower favorable tax adjustments related to flow-through federal income tax benefits associated with plant recorded in conjunction with filing CECONY’s federal tax return in September of 2014. In March 2014, tax legislation was enacted in the State of New York that reduces the corporate franchise tax rate from 7.1 percent to 6.5 percent, beginning January 1, 2016. The application of this legislation decreased Con Edison’s accumulated deferred tax liabilities by $72 million ($67 million for CECONY), decreased Con Edison’s regulatory asset for future income tax by $11 million ($10 million for CECONY) and increased Con Edison’s regulatory liability by $61 million ($57 million for CECONY). The impact of this tax legislation on Con Edison’s effective tax rate was not material, and there was no impact on CECONY’s effective tax rate for the nine months ended September 30, 2014. Uncertain Tax Positions In the third quarter of 2013, the IRS completed its audits for the tax years 1998 through 2011 and the Companies recognized approximately $13 million of income tax benefits ($7 million for CECONY), including $6 million that favorably affected Con Edison’s effective tax rate for the three and nine months ended September 30, 2013. In 2014 following the conclusion of its IRS audit, Con Edison filed amended state tax returns for tax years 1998 through 2011. As a result of positions taken on the amended state tax returns, Con Edison increased its estimated liabilities for uncertain tax positions by $25 million. The amended returns contain uncertain tax positions unique to the states, and the returns remain open for examination. At September 30, 2014, the estimated liability for uncertain tax positions for Con Edison was $34 million ($2 million for CECONY) and was reflected as a noncurrent liability on its consolidated balance sheet. The Companies recognize interest on liabilities for uncertain tax positions in interest expense and would recognize penalties, if any, in operating expenses in the Companies’ consolidated income statements. In the nine months ended September 30, 2014, Con Edison recognized an immaterial amount of interest expense and no penalties for uncertain tax positions in its consolidated income statements. At September 30, 2014 and December 31, 2013, Con Edison recognized an immaterial amount of accrued interest on its consolidated balance sheets. As of September 30, 2014, Con Edison reasonably expects to resolve approximately $25 million ($16 million, net of federal taxes) of its uncertainties related to certain tax matters within the next twelve months, of which the entire amount, if recognized, would reduce Con Edison’s effective tax rate. The amount related to CECONY is approximately $2 million ($1 million, net of federal taxes), of which the entire amount, if recognized, would reduce CECONY’s effective tax rate. The total amount of unrecognized tax benefits, if recognized, that would reduce Con Edison’s effective tax rate is $34 million ($22 million, net of federal taxes).

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References+ Details

Financial Information by Business Segment

9 Months Ended

Sep. 30, 2014

Financial Information by Business Segment

Note K — 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)*	2014			2013		2014			2013			2014		2013		2014			2013
CECONY
Electric	$	2,582		$	2,622	$	4		$	4		$	198	$	188	$	811		$	811
Gas		210			199		1			1			33		33		(14	)		(24	)
Steam		46			72		21			22			19		16		(41	)		(35	)
Consolidation adjustments		—			—		(26	)		(27	)		—		—		—			—
Total CECONY	$	2,838		$	2,893	$	—		$	—		$	250	$	237	$	756		$	752
O&R
Electric	$	205		$	200	$	—		$	—		$	12	$	10	$	51		$	46
Gas		27			26		—			—			4		4		(8	)		(7	)
Total O&R	$	232		$	226	$	—		$	—		$	16	$	14	$	43		$	39
Competitive energy businesses	$	321		$	365	$	(3	)	$	—		$	3	$	6	$	20		$	63
Other*		(1	)		—		3			—			1		1		—			1
Total Con Edison	$	3,390		$	3,484	$	—		$	—		$	270	$	258	$	819		$	855

*	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)*	2014			2013			2014			2013			2014		2013		2014		2013
CECONY
Electric	$	6,635		$	6,309		$	12		$	12		$	581	$	559	$	1,416	$	1,307
Gas		1,359			1,190			4			4			98		97		273		272
Steam		485			522			62			60			58		49		97		80
Consolidation adjustments		—			—			(78	)		(76	)		—		—		—		—
Total CECONY	$	8,479		$	8,021		$	—		$	—		$	737	$	705	$	1,786	$	1,659
O&R
Electric	$	525		$	492		$	—		$	—		$	33	$	31	$	87	$	81
Gas		155			143			—			—			12		11		15		20
Total O&R	$	680		$	635		$	—		$	—		$	45	$	42	$	102	$	101
Competitive energy businesses	$	934		$	834		$	(2	)	$	4		$	14	$	16	$	70	$	7
Other*		(2	)		(3	)		2			(4	)		—		1		1		—
Total Con Edison	$	10,091		$	9,487		$	—		$	—		$	796	$	764	$	1,959	$	1,767

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

CECONY [Member]

Financial Information by Business Segment

Note K — 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)*	2014			2013		2014			2013			2014		2013		2014			2013
CECONY
Electric	$	2,582		$	2,622	$	4		$	4		$	198	$	188	$	811		$	811
Gas		210			199		1			1			33		33		(14	)		(24	)
Steam		46			72		21			22			19		16		(41	)		(35	)
Consolidation adjustments		—			—		(26	)		(27	)		—		—		—			—
Total CECONY	$	2,838		$	2,893	$	—		$	—		$	250	$	237	$	756		$	752
O&R
Electric	$	205		$	200	$	—		$	—		$	12	$	10	$	51		$	46
Gas		27			26		—			—			4		4		(8	)		(7	)
Total O&R	$	232		$	226	$	—		$	—		$	16	$	14	$	43		$	39
Competitive energy businesses	$	321		$	365	$	(3	)	$	—		$	3	$	6	$	20		$	63
Other*		(1	)		—		3			—			1		1		—			1
Total Con Edison	$	3,390		$	3,484	$	—		$	—		$	270	$	258	$	819		$	855

*	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)*	2014			2013			2014			2013			2014		2013		2014		2013
CECONY
Electric	$	6,635		$	6,309		$	12		$	12		$	581	$	559	$	1,416	$	1,307
Gas		1,359			1,190			4			4			98		97		273		272
Steam		485			522			62			60			58		49		97		80
Consolidation adjustments		—			—			(78	)		(76	)		—		—		—		—
Total CECONY	$	8,479		$	8,021		$	—		$	—		$	737	$	705	$	1,786	$	1,659
O&R
Electric	$	525		$	492		$	—		$	—		$	33	$	31	$	87	$	81
Gas		155			143			—			—			12		11		15		20
Total O&R	$	680		$	635		$	—		$	—		$	45	$	42	$	102	$	101
Competitive energy businesses	$	934		$	834		$	(2	)	$	4		$	14	$	16	$	70	$	7
Other*		(2	)		(3	)		2			(4	)		—		1		1		—
Total Con Edison	$	10,091		$	9,487		$	—		$	—		$	796	$	764	$	1,959	$	1,767

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

- Definition

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.

+ References

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+ Details

Derivative Instruments and Hedging Activities

9 Months Ended

Sep. 30, 2014

Derivative Instruments and Hedging Activities

Note L — 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 Companies enter into master agreements for their commodity derivatives. These agreements typically provide for setoff in the event of contract termination. In such case, generally the non-defaulting or non-affected party’s payable will be set-off by the other party’s payable. The non-defaulting party will customarily notify the defaulting party within a specific time period and come to an agreement on the early termination amount.

The fair values of the Companies’ commodity derivatives including the offsetting of assets and liabilities at September 30, 2014 were:


*(Millions of Dollars)*
Commodity Derivatives	Gross Amounts of Recognized Assets/(Liabilities)			Gross Amounts Offset in the Statement of Financial Position			Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position			Gross Amounts Not Offset in the Statement of Financial Position				Net Amount
										Financial instruments		Cash collateral received
Con Edison
Derivative assets	$	240		$	(138	)	$	102	(a)	$	—	$	—	$	102	(a)
Derivative liabilities		(124	)		114			(10	)		—		—		(10	)
Net derivative assets/(liabilities)	$	116		$	(24	)	$	92	(a)	$	—	$	—	$	92	(a)
CECONY
Derivative assets	$	103		$	(63	)	$	40	(a)	$	—	$	—	$	40	(a)
Derivative liabilities		(69	)		65			(4)			—		—		(4)
Net derivative assets/(liabilities)	$	34		$	2		$	36	(a)	$	—	$	—	$	36	(a)

(a)

At September 30, 2014, Con Edison and CECONY had margin deposits of $8 million classified as derivative assets in the balance sheet, but not included in the table. As required by an exchange, a margin is collateral, typically cash, that the holder of a derivative instrument has to deposit in order to transact on an exchange and to cover its potential losses with its broker or the exchange.

The fair values of the Companies’ commodity derivatives including the offsetting of assets and liabilities at December 31, 2013 were:


*(Millions of Dollars)*
Commodity Derivatives	Gross Amounts of Recognized Assets/(Liabilities)			Gross Amounts Offset in the Statement of Financial Position			Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position			Gross Amounts Not Offset in the Statement of Financial Position				Net Amount
										Financial instruments		Cash collateral received
Con Edison
Derivative assets	$	166		$	(101	)	$	65	(a)	$	—	$	—	$	65	(a)
Derivative liabilities		(113	)		98			(15	)		—		—		(15	)
Net derivative assets/(liabilities)	$	53		$	(3	)	$	50	(a)	$	—	$	—	$	50	(a)
CECONY
Derivative assets	$	41		$	(32	)	$	9	(a)	$	—	$	—	$	9	(a)
Derivative liabilities		(51	)		37			(14	)		—		—		(14	)
Net derivative assets/(liabilities)	$	(10	)	$	5		$	(5	)(a)	$	—	$	—	$	(5	)(a)

(a)

At December 31, 2013, Con Edison and CECONY had margin deposits of $17 million and $16 million, respectively, classified as derivative assets in the balance sheet, but not included in the table. As required by an exchange, a margin is collateral, typically cash, that the holder of a derivative instrument has to deposit in order to transact on an exchange and to cover its potential losses with its broker or the exchange.

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. Credit risk relates to the loss that may result from a counterparty’s nonperformance. 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. The Companies measure credit risk exposure as the replacement cost for open energy commodity and derivative positions plus amounts owed from counterparties for settled transactions. The replacement cost of open positions represents unrealized gains, net of any unrealized losses where the Companies have a legally enforceable right of setoff.

At September 30, 2014, Con Edison and CECONY had $151 million and $28 million of credit exposure in connection with energy supply and hedging activities, net of collateral, respectively. Con Edison’s net credit exposure consisted of $54 million with independent system operators, $63 million with commodity exchange brokers, $31 million with investment-grade counterparties and $3 million with non-investment grade/non-rated counterparties. CECONY’s net credit exposure consisted of $20 million with commodity exchange brokers and $8 million with investment-grade counterparties.

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, 2014 were:


*(Millions of Dollars)*	Fair Value of Commodity Derivatives(a) Balance Sheet Location	Con Edison			CECONY
Derivative Assets
Current	Other current assets	$	192		$	75
Noncurrent	Other deferred charges and noncurrent assets		48			28
Total derivative assets		$	240		$	103
Impact of netting			(130	)		(55	)
Net derivative assets		$	110		$	48
Derivative Liabilities
Current	Fair value of derivative liabilities	$	82		$	40
Noncurrent	Fair value of derivative liabilities		42			29
Total derivative liabilities		$	124		$	69
Impact of netting			(114	)		(65	)
Net derivative liabilities		$	10		$	4

(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, 2013 were:


*(Millions of Dollars)*	Fair Value of Commodity Derivatives(a) Balance Sheet Location	Con Edison			CECONY
Derivative Assets
Current	Other current assets	$	134		$	27
Noncurrent	Other deferred charges and noncurrent assets		32			14
Total derivative assets		$	166		$	41
Impact of netting			(84	)		(16	)
Net derivative assets		$	82		$	25
Derivative Liabilities
Current	Fair value of derivative liabilities	$	82		$	32
Noncurrent	Fair value of derivative liabilities		31			19
Total derivative liabilities		$	113		$	51
Impact of netting			(98	)		(37	)
Net derivative liabilities		$	15		$	14

(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 table presents 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, 2014:


Realized and Unrealized Gains/(Losses) on Commodity Derivatives(a) Deferred or Recognized in Income for the Three Months Ended September 30, 2014
*(Millions of Dollars)*	Balance Sheet Location	Con Edison			CECONY
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Current	Deferred derivative gains	$	(6	)	$	(5	)
Noncurrent	Deferred derivative gains		(5	)		(5	)
Total deferred gains/(losses)		$	(11	)	$	(10	)
Current	Deferred derivative losses	$	(6	)	$	(5	)
Current	Recoverable energy costs		(33	)		(29	)
Noncurrent	Deferred derivative losses		3			3
Total deferred gains/(losses)		$	(36	)	$	(31	)
Net deferred gains/(losses)		$	(47	)	$	(41	)
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense	$	(28	)(b)	$	—
	Gas purchased for resale		(29	)		—
	Non-utility revenue		20	(b)		—
Total pre-tax gain/(loss) recognized in income		$	(37	)	$	—

(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, 2014, Con Edison recorded in purchased power expense an unrealized pre-tax loss of $1 million.


Realized and Unrealized Gains/(Losses) on Commodity Derivatives(a) Deferred or Recognized in Income for the Nine Months Ended September 30, 2014
*(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	$	25		$	20
Noncurrent	Deferred derivative gains		1			1
Total deferred gains/(losses)		$	26		$	21
Current	Deferred derivative losses	$	10		$	10
Current	Recoverable energy costs		54			41
Noncurrent	Deferred derivative losses		3			2
Total deferred gains/(losses)		$	67		$	53
Net deferred gains/(losses)		$	93		$	74
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense	$	134	(b)	$	—
	Gas purchased for resale		(75	)		—
	Non-utility revenue		10	(b)		—
Total pre-tax gain/(loss) recognized in income		$	69		$	—

(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, 2014, Con Edison recorded in purchased power expense an unrealized pre-tax gain of $14 million.

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, 2013:


Realized and Unrealized Gains/(Losses) on Commodity Derivatives(a) Deferred or Recognized in Income for the Three Months Ended September 30, 2013
*(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	$	—		$	—
Noncurrent	Regulatory liabilities		—			—
Total deferred gains/(losses)		$	—		$
Current	Deferred derivative losses	$	11		$	9
Current	Recoverable energy costs		(19	)		(17	)
Noncurrent	Deferred derivative losses		6			7
Total deferred gains/(losses)		$	(2	)	$	(1	)
Net deferred gains/(losses)		$	(2	)	$	(1	)
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense	$	3	(b)	$	—
	Gas purchased for resale		(6	)		—
	Non-utility revenue		7			—
Total pre-tax gain/(loss) recognized in income		$	4		$	—

(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, 2013, Con Edison recorded in purchased power expense an unrealized pre-tax gain of $6 million.


Realized and Unrealized Gains/(Losses) on Commodity Derivatives(a) Deferred or Recognized in Income for the Nine Months Ended September 30, 2013
*(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	$	1		$	1
Noncurrent	Regulatory liabilities		—			—
Total deferred gains/(losses)		$	1		$	1
Current	Deferred derivative losses	$	24		$	19
Current	Recoverable energy costs		(22	)		(19	)
Noncurrent	Deferred derivative losses		3			7
Total deferred gains/(losses)		$	5		$	7
Net deferred gains/(losses)		$	6		$	8
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense	$	32	(b)	$	—
	Gas purchased for resale		(17	)		—
	Non-utility revenue		8	(b)		—
Total pre-tax gain/(loss) recognized in income		$	23		$	—

(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, 2013, Con Edison recorded in purchased power expense an unrealized pre-tax gain of $22 million.

As of September 30, 2014, Con Edison had 1,335 contracts, including 565 CECONY contracts, which were considered to be derivatives under the accounting rules for derivatives and hedging (excluding qualifying derivative contracts, which have been designated as normal purchases or normal sales contracts). The following table presents the number of contracts by commodity type:


	Electric Derivatives										Gas Derivatives
	Number of Energy Contracts (a)		MWHs (b)		Number of Capacity Contracts (a)		MWs (b)		Number of Contracts (a)		Dths (b)		Total Number Of Contracts (a)
Con Edison		561		13,588,195		79		5,758		695		75,092,291		1,335
CECONY		75		3,612,475		6		1,500		484		69,880,000		565

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

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

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

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

The aggregate fair value of all derivative instruments with credit-risk-related contingent features that are in a net liability position and collateral posted at September 30, 2014, 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	$	3		$	2
Collateral posted	$	1		$	—
Additional collateral(b) (downgrade one level from current ratings)	$	—		$	—
Additional collateral(b) (downgrade to below investment grade from current ratings)	$	19	(c)	$	2	(c)

(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, 2014, would have amounted to an estimated $17 million for Con Edison, including $5 million for CECONY. For certain other such non-derivative transactions, the Companies could be required to post collateral under certain circumstances, including in the event counterparties had reasonable grounds for insecurity.

(b)

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)

Derivative instruments that are net assets have been excluded from the table. At September 30, 2014, if Con Edison had been downgraded to below investment grade, it would have been required to post additional collateral for such derivative instruments of $28 million, including $1 million for CECONY.

Interest Rate Swap

O&R had an interest rate swap that expired on October 1, 2014, pursuant to which it paid a fixed-rate of 6.09 percent and received a LIBOR-based variable rate. The fair value of this interest rate swap at September 30, 2014 was immaterial. The increase in the fair value of the swap for the three and nine months ended September 30, 2014 was $1 million and $2 million, respectively.

CECONY [Member]

Derivative Instruments and Hedging Activities

Note L — Derivative Instruments and Hedging Activities

Energy Price Hedging

The fair values of the Companies’ commodity derivatives including the offsetting of assets and liabilities at September 30, 2014 were:


*(Millions of Dollars)*
Commodity Derivatives	Gross Amounts of Recognized Assets/(Liabilities)			Gross Amounts Offset in the Statement of Financial Position			Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position			Gross Amounts Not Offset in the Statement of Financial Position				Net Amount
										Financial instruments		Cash collateral received
Con Edison
Derivative assets	$	240		$	(138	)	$	102	(a)	$	—	$	—	$	102	(a)
Derivative liabilities		(124	)		114			(10	)		—		—		(10	)
Net derivative assets/(liabilities)	$	116		$	(24	)	$	92	(a)	$	—	$	—	$	92	(a)
CECONY
Derivative assets	$	103		$	(63	)	$	40	(a)	$	—	$	—	$	40	(a)
Derivative liabilities		(69	)		65			(4)			—		—		(4)
Net derivative assets/(liabilities)	$	34		$	2		$	36	(a)	$	—	$	—	$	36	(a)

(a)

The fair values of the Companies’ commodity derivatives including the offsetting of assets and liabilities at December 31, 2013 were:


*(Millions of Dollars)*
Commodity Derivatives	Gross Amounts of Recognized Assets/(Liabilities)			Gross Amounts Offset in the Statement of Financial Position			Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position			Gross Amounts Not Offset in the Statement of Financial Position				Net Amount
										Financial instruments		Cash collateral received
Con Edison
Derivative assets	$	166		$	(101	)	$	65	(a)	$	—	$	—	$	65	(a)
Derivative liabilities		(113	)		98			(15	)		—		—		(15	)
Net derivative assets/(liabilities)	$	53		$	(3	)	$	50	(a)	$	—	$	—	$	50	(a)
CECONY
Derivative assets	$	41		$	(32	)	$	9	(a)	$	—	$	—	$	9	(a)
Derivative liabilities		(51	)		37			(14	)		—		—		(14	)
Net derivative assets/(liabilities)	$	(10	)	$	5		$	(5	)(a)	$	—	$	—	$	(5	)(a)

(a)

Credit Exposure

Economic Hedges

The fair values of the Companies’ commodity derivatives at September 30, 2014 were:


*(Millions of Dollars)*	Fair Value of Commodity Derivatives(a) Balance Sheet Location	Con Edison			CECONY
Derivative Assets
Current	Other current assets	$	192		$	75
Noncurrent	Other deferred charges and noncurrent assets		48			28
Total derivative assets		$	240		$	103
Impact of netting			(130	)		(55	)
Net derivative assets		$	110		$	48
Derivative Liabilities
Current	Fair value of derivative liabilities	$	82		$	40
Noncurrent	Fair value of derivative liabilities		42			29
Total derivative liabilities		$	124		$	69
Impact of netting			(114	)		(65	)
Net derivative liabilities		$	10		$	4

(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, 2013 were:


*(Millions of Dollars)*	Fair Value of Commodity Derivatives(a) Balance Sheet Location	Con Edison			CECONY
Derivative Assets
Current	Other current assets	$	134		$	27
Noncurrent	Other deferred charges and noncurrent assets		32			14
Total derivative assets		$	166		$	41
Impact of netting			(84	)		(16	)
Net derivative assets		$	82		$	25
Derivative Liabilities
Current	Fair value of derivative liabilities	$	82		$	32
Noncurrent	Fair value of derivative liabilities		31			19
Total derivative liabilities		$	113		$	51
Impact of netting			(98	)		(37	)
Net derivative liabilities		$	15		$	14

(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 table presents 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, 2014:


Realized and Unrealized Gains/(Losses) on Commodity Derivatives(a) Deferred or Recognized in Income for the Three Months Ended September 30, 2014
*(Millions of Dollars)*	Balance Sheet Location	Con Edison			CECONY
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Current	Deferred derivative gains	$	(6	)	$	(5	)
Noncurrent	Deferred derivative gains		(5	)		(5	)
Total deferred gains/(losses)		$	(11	)	$	(10	)
Current	Deferred derivative losses	$	(6	)	$	(5	)
Current	Recoverable energy costs		(33	)		(29	)
Noncurrent	Deferred derivative losses		3			3
Total deferred gains/(losses)		$	(36	)	$	(31	)
Net deferred gains/(losses)		$	(47	)	$	(41	)
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense	$	(28	)(b)	$	—
	Gas purchased for resale		(29	)		—
	Non-utility revenue		20	(b)		—
Total pre-tax gain/(loss) recognized in income		$	(37	)	$	—

(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, 2014, Con Edison recorded in purchased power expense an unrealized pre-tax loss of $1 million.


Realized and Unrealized Gains/(Losses) on Commodity Derivatives(a) Deferred or Recognized in Income for the Nine Months Ended September 30, 2014
*(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	$	25		$	20
Noncurrent	Deferred derivative gains		1			1
Total deferred gains/(losses)		$	26		$	21
Current	Deferred derivative losses	$	10		$	10
Current	Recoverable energy costs		54			41
Noncurrent	Deferred derivative losses		3			2
Total deferred gains/(losses)		$	67		$	53
Net deferred gains/(losses)		$	93		$	74
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense	$	134	(b)	$	—
	Gas purchased for resale		(75	)		—
	Non-utility revenue		10	(b)		—
Total pre-tax gain/(loss) recognized in income		$	69		$	—

(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, 2014, Con Edison recorded in purchased power expense an unrealized pre-tax gain of $14 million.

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, 2013:


Realized and Unrealized Gains/(Losses) on Commodity Derivatives(a) Deferred or Recognized in Income for the Three Months Ended September 30, 2013
*(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	$	—		$	—
Noncurrent	Regulatory liabilities		—			—
Total deferred gains/(losses)		$	—		$
Current	Deferred derivative losses	$	11		$	9
Current	Recoverable energy costs		(19	)		(17	)
Noncurrent	Deferred derivative losses		6			7
Total deferred gains/(losses)		$	(2	)	$	(1	)
Net deferred gains/(losses)		$	(2	)	$	(1	)
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense	$	3	(b)	$	—
	Gas purchased for resale		(6	)		—
	Non-utility revenue		7			—
Total pre-tax gain/(loss) recognized in income		$	4		$	—

(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, 2013, Con Edison recorded in purchased power expense an unrealized pre-tax gain of $6 million.


Realized and Unrealized Gains/(Losses) on Commodity Derivatives(a) Deferred or Recognized in Income for the Nine Months Ended September 30, 2013
*(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	$	1		$	1
Noncurrent	Regulatory liabilities		—			—
Total deferred gains/(losses)		$	1		$	1
Current	Deferred derivative losses	$	24		$	19
Current	Recoverable energy costs		(22	)		(19	)
Noncurrent	Deferred derivative losses		3			7
Total deferred gains/(losses)		$	5		$	7
Net deferred gains/(losses)		$	6		$	8
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense	$	32	(b)	$	—
	Gas purchased for resale		(17	)		—
	Non-utility revenue		8	(b)		—
Total pre-tax gain/(loss) recognized in income		$	23		$	—

(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, 2013, Con Edison recorded in purchased power expense an unrealized pre-tax gain of $22 million.


	Electric Derivatives										Gas Derivatives
	Number of Energy Contracts (a)		MWHs (b)		Number of Capacity Contracts (a)		MWs (b)		Number of Contracts (a)		Dths (b)		Total Number Of Contracts (a)
Con Edison		561		13,588,195		79		5,758		695		75,092,291		1,335
CECONY		75		3,612,475		6		1,500		484		69,880,000		565

(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	$	3		$	2
Collateral posted	$	1		$	—
Additional collateral(b) (downgrade one level from current ratings)	$	—		$	—
Additional collateral(b) (downgrade to below investment grade from current ratings)	$	19	(c)	$	2	(c)

(a)

(b)

(c)

Interest Rate Swap

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

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+ Details

Fair Value Measurements

9 Months Ended

Sep. 30, 2014

Fair Value Measurements

Note M — 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.

Assets and liabilities measured at fair value on a recurring basis as of September 30, 2014 are summarized below.


	Level 1				Level 2				Level 3				Netting Adjustments (d)				Total
*(Millions of Dollars)*	Con Edison		CECONY		Con Edison		CECONY		Con Edison		CECONY		Con Edison		CECONY		Con Edison		CECONY
Derivative assets:
Commodity (a)(e)(f)	$	5	$	5	$	152	$	38	$	24	$	11	$	(71)	$	(6)	$	110	$	48
Other assets (c)(e)(f)		163		156		116		106		—		—		—		—		279		262
Total	$	168	$	161	$	268	$	144	$	24	$	11	$	(71)	$	(6)	$	389	$	310
Derivative liabilities:
Commodity (a)(e)(f)	$	4	$	4	$	58	$	16	$	3	$	—	$	(55)	$	(16)	$	10	$	4
Interest rate contract (b)(e)(f)		—		—		—		—		—		—		—		—		—		—
Total	$	4	$	4	$	58	$	16	$	3	$	—	$	(55)	$	(16)	$	10	$	4

(a)	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 L.

(b)	The interest rate contract expired on October 1, 2014. See Note L.

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

(d)	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.

(e)	The Companies’ policy is to recognize transfers into and transfers out of the levels at the end of the reporting period. There were no transfers between levels 1, 2, and 3 for the nine months ended September 30, 2014.

(f)

Level 2 assets and liabilities include investments held in the deferred compensation plan and/or non-qualified retirement plans, interest rate swap, or exchange-traded contracts where there is insufficient market liquidity to warrant inclusion in Level 1, and certain over-the-counter derivative instruments for electricity and natural gas. Derivative instruments classified as Level 2 are valued using industry standard models that incorporate corroborated observable inputs; such as pricing services or prices from similar instruments that trade in liquid markets, time value, and volatility factors.

Assets and liabilities measured at fair value on a recurring basis as of December 31, 2013 are summarized below.


	Level 1				Level 2				Level 3				Netting Adjustments (d)				Total
*(Millions of Dollars)*	Con Edison		CECONY		Con Edison		CECONY		Con Edison		CECONY		Con Edison		CECONY		Con Edison		CECONY
Derivative assets:
Commodity (a)(e)(f)	$	3	$	3	$	130	$	13	$	11	$	6	$	(62)	$	3	$	82	$	25
Other assets (c)(e)(f)		141		134		113		103		—		—		—		—		254		237
Total	$	144	$	137	$	243	$	116	$	11	$	6	$	(62)	$	3	$	336	$	262
Derivative liabilities:
Commodity (a)(e)(f)	$	5	$	5	$	84	$	27	$	2	$	—	$	(76)	$	(18)	$	15	$	14
Interest rate contract (b)(e)(f)		—		—		2		—		—		—		—		—		2		—
Total	$	5	$	5	$	86	$	27	$	2	$	—	$	(76)	$	(18)	$	17	$	14

(a)	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 L.

(b)	See Note L.

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

(d)	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.

(e)	The Companies’ policy is to recognize transfers into and transfers out of the levels at the end of the reporting period. There were no transfers between levels 1, 2, and 3 for the year ended December 31, 2013.

(f)

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, 2014 *(Millions of Dollars)*		Valuation Techniques	Unobservable Inputs	Range
Con Edison—Commodity
Electricity		$ 9	Discounted Cash Flow	Forward energy prices (a)	$28.43-$170.00 per MWH
			Discounted Cash Flow	Forward capacity prices (a)	$5.39-$17.94 per kW-month
Transmission Congestion Contracts / Financial Transmission Rights		12	Discounted Cash Flow	Discount to adjust auction prices for inter-zonal forward price curves (b)	(5.8)%-57.9%
				Discount to adjust auction prices for historical monthly realized settlements (b)	6.1%-49.1%
				Inter-zonal forward price curves adjusted for historical zonal losses (b)	$0.08-$7.61 per MWH
Total Con Edison—Commodity		$21
CECONY—Commodity
Transmission Congestion Contracts		$11	Discounted Cash Flow	Discount to adjust auction prices for inter-zonal forward price curves (b)	(5.8)%-57.9%
				Discount to adjust auction prices for historical monthly realized settlements (b)	6.1%-49.1%

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

(b)	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 as of September 30, 2014 and 2013 and classified as Level 3 in the fair value hierarchy:


	For the Three Months Ended September 30, 2014
			Total Gains/(Losses)— Realized and Unrealized
*(Millions of Dollars)*	Beginning Balance as of July 1, 2014		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, 2014
Con Edison
Derivatives:
Commodity		$27		$(8)		$(4)		$3		$—		$—		$3		$—		$21
CECONY
Derivatives:
Commodity		$14		$(3)		$(4)		$3		$—		$—		$1		$—		$11

	For the Nine Months Ended September 30, 2014
			Total Gains/(Losses)— Realized and Unrealized
*(Millions of Dollars)*	Beginning Balance as of January 1, 2014		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, 2014
Con Edison
Derivatives:
Commodity		$9		$41		$4		$15		$—		$—		$(48)		$—		$21
CECONY
Derivatives:
Commodity		$6		$6		$4		$13		$—		$—		$(18)		$—		$11


	For Three Months Ended September 30, 2013
			Total Gains/(Losses)— Realized and Unrealized
*(Millions of Dollars)*	Beginning Balance as of July 1, 2013		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, 2013
Con Edison
Derivatives:
Commodity	$	(6)	$	(3	)	$	(2	)	$	5	$	—	$	—	$	(8)	$	—	$	(14)
CECONY
Derivatives:
Commodity	$	8	$	2		$	(1	)	$	5	$	—	$	—	$	(6)	$	—	$	8

	For Nine Months Ended September 30, 2013
			Total Gains/(Losses)— Realized and Unrealized
*(Millions of Dollars)*	Beginning Balance as of January 1, 2013		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, 2013
Con Edison
Derivatives:
Commodity	$	(5)	$	5		$	1		$	12	$	—	$	—	$	(27)	$	—	$	(14)
CECONY
Derivatives:
Commodity	$	10	$	9		$	—		$	10	$	—	$	—	$	(21)	$	—	$	8

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 (immaterial) and purchased power costs ($5 million loss and $4 million loss) on the consolidated income statement for the three months ended September 30, 2014 and 2013, respectively. Realized and unrealized gains and losses on Level 3 commodity derivative assets and liabilities are reported in non-utility revenues (immaterial and $2 million loss) and purchased power costs ($35 million gain and immaterial) on the consolidated income statement for the nine months ended September 30, 2014 and 2013, respectively. The change in fair value relating to Level 3 commodity derivative assets and liabilities held at September 30, 2014 and 2013 is included in non-utility revenues (immaterial) and purchased power costs ($2 million loss and $5 million loss) on the consolidated income statement for the three months ended September 30, 2014 and 2013, respectively. For the nine months ended September 30, 2014 and 2013, the change in fair value relating to Level 3 commodity derivative assets and liabilities is included in non-utility revenues (immaterial and $2 million loss) and purchased power costs ($8 million gain and $3 million loss) 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, 2014, 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 historical default probability based on current credit ratings and 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 M — Fair Value Measurements

•

Assets and liabilities measured at fair value on a recurring basis as of September 30, 2014 are summarized below.


	Level 1				Level 2				Level 3				Netting Adjustments (d)				Total
*(Millions of Dollars)*	Con Edison		CECONY		Con Edison		CECONY		Con Edison		CECONY		Con Edison		CECONY		Con Edison		CECONY
Derivative assets:
Commodity (a)(e)(f)	$	5	$	5	$	152	$	38	$	24	$	11	$	(71)	$	(6)	$	110	$	48
Other assets (c)(e)(f)		163		156		116		106		—		—		—		—		279		262
Total	$	168	$	161	$	268	$	144	$	24	$	11	$	(71)	$	(6)	$	389	$	310
Derivative liabilities:
Commodity (a)(e)(f)	$	4	$	4	$	58	$	16	$	3	$	—	$	(55)	$	(16)	$	10	$	4
Interest rate contract (b)(e)(f)		—		—		—		—		—		—		—		—		—		—
Total	$	4	$	4	$	58	$	16	$	3	$	—	$	(55)	$	(16)	$	10	$	4

(a)	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 L.

(b)	The interest rate contract expired on October 1, 2014. See Note L.

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

(d)	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.

(e)	The Companies’ policy is to recognize transfers into and transfers out of the levels at the end of the reporting period. There were no transfers between levels 1, 2, and 3 for the nine months ended September 30, 2014.

(f)

Assets and liabilities measured at fair value on a recurring basis as of December 31, 2013 are summarized below.


	Level 1				Level 2				Level 3				Netting Adjustments (d)				Total
*(Millions of Dollars)*	Con Edison		CECONY		Con Edison		CECONY		Con Edison		CECONY		Con Edison		CECONY		Con Edison		CECONY
Derivative assets:
Commodity (a)(e)(f)	$	3	$	3	$	130	$	13	$	11	$	6	$	(62)	$	3	$	82	$	25
Other assets (c)(e)(f)		141		134		113		103		—		—		—		—		254		237
Total	$	144	$	137	$	243	$	116	$	11	$	6	$	(62)	$	3	$	336	$	262
Derivative liabilities:
Commodity (a)(e)(f)	$	5	$	5	$	84	$	27	$	2	$	—	$	(76)	$	(18)	$	15	$	14
Interest rate contract (b)(e)(f)		—		—		2		—		—		—		—		—		2		—
Total	$	5	$	5	$	86	$	27	$	2	$	—	$	(76)	$	(18)	$	17	$	14

(a)	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 L.

(b)	See Note L.

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

(d)	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.

(e)	The Companies’ policy is to recognize transfers into and transfers out of the levels at the end of the reporting period. There were no transfers between levels 1, 2, and 3 for the year ended December 31, 2013.

(f)


	Fair Value of Level 3 at September 30, 2014 *(Millions of Dollars)*		Valuation Techniques	Unobservable Inputs	Range
Con Edison—Commodity
Electricity		$ 9	Discounted Cash Flow	Forward energy prices (a)	$28.43-$170.00 per MWH
			Discounted Cash Flow	Forward capacity prices (a)	$5.39-$17.94 per kW-month
Transmission Congestion Contracts / Financial Transmission Rights		12	Discounted Cash Flow	Discount to adjust auction prices for inter-zonal forward price curves (b)	(5.8)%-57.9%
				Discount to adjust auction prices for historical monthly realized settlements (b)	6.1%-49.1%
				Inter-zonal forward price curves adjusted for historical zonal losses (b)	$0.08-$7.61 per MWH
Total Con Edison—Commodity		$21
CECONY—Commodity
Transmission Congestion Contracts		$11	Discounted Cash Flow	Discount to adjust auction prices for inter-zonal forward price curves (b)	(5.8)%-57.9%
				Discount to adjust auction prices for historical monthly realized settlements (b)	6.1%-49.1%

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

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


	For the Three Months Ended September 30, 2014
			Total Gains/(Losses)— Realized and Unrealized
*(Millions of Dollars)*	Beginning Balance as of July 1, 2014		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, 2014
Con Edison
Derivatives:
Commodity		$27		$(8)		$(4)		$3		$—		$—		$3		$—		$21
CECONY
Derivatives:
Commodity		$14		$(3)		$(4)		$3		$—		$—		$1		$—		$11

	For the Nine Months Ended September 30, 2014
			Total Gains/(Losses)— Realized and Unrealized
*(Millions of Dollars)*	Beginning Balance as of January 1, 2014		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, 2014
Con Edison
Derivatives:
Commodity		$9		$41		$4		$15		$—		$—		$(48)		$—		$21
CECONY
Derivatives:
Commodity		$6		$6		$4		$13		$—		$—		$(18)		$—		$11


	For Three Months Ended September 30, 2013
			Total Gains/(Losses)— Realized and Unrealized
*(Millions of Dollars)*	Beginning Balance as of July 1, 2013		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, 2013
Con Edison
Derivatives:
Commodity	$	(6)	$	(3	)	$	(2	)	$	5	$	—	$	—	$	(8)	$	—	$	(14)
CECONY
Derivatives:
Commodity	$	8	$	2		$	(1	)	$	5	$	—	$	—	$	(6)	$	—	$	8

	For Nine Months Ended September 30, 2013
			Total Gains/(Losses)— Realized and Unrealized
*(Millions of Dollars)*	Beginning Balance as of January 1, 2013		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, 2013
Con Edison
Derivatives:
Commodity	$	(5)	$	5		$	1		$	12	$	—	$	—	$	(27)	$	—	$	(14)
CECONY
Derivatives:
Commodity	$	10	$	9		$	—		$	10	$	—	$	—	$	(21)	$	—	$	8

Variable Interest Entities

9 Months Ended

Sep. 30, 2014

Variable Interest Entities

Note N — Variable Interest Entities

In March 2014, Con Edison Development purchased a 50 percent membership interest in Copper Mountain Solar 3 Holdings, LLC (CMS 3). As a result, Con Edison has a variable interest in CMS 3, which is a non-consolidated entity. CMS 3 owns a project company that is developing a 250 MW (AC) solar energy project in Nevada. Electricity generated by the project is to be sold to the Southern California Public Power Authority pursuant to a long-term power purchase agreement. Con Edison is not the primary beneficiary since the power to direct the activities that most significantly impact the economics of CMS 3 is shared equally between Con Edison Development and a third party. At September 30, 2014, Con Edison’s consolidated balance sheet includes $155 million in investments (including earnings) related to CMS 3, which assessed in accordance with the accounting rules for variable interest entities (VIE), is Con Edison’s current maximum exposure to loss in the entity. In addition, Con Edison and Con Edison Development have issued certain guarantees to third parties in connection with CMS 3. See “Guarantees” in Note H.

In May 2014, Con Edison Development sold 50 percent of its membership interest in CED California Holdings Financing I, LLC (CCH), which was previously a wholly owned subsidiary. As a result, Con Edison has a variable interest in CCH, which is no longer a consolidated entity. CCH owns project companies that operate 110 MW (AC) of solar energy projects in California. Electricity generated by the projects is sold to Pacific Gas and Electric Company pursuant to long-term power purchase agreements. Con Edison is not the primary beneficiary since the power to direct the activities that most significantly impact the economics of CCH is shared equally between Con Edison Development and a third party. Con Edison Development’s remaining 50 percent interest in CCH is now accounted for under the equity method.

As a result of the sale, Con Edison Development received net proceeds of $108 million and recognized a pre-tax gain on the sale of $45 million ($26 million, net of tax). The following table summarizes the sale and resultant deconsolidation on the transaction date:


*(Millions of Dollars)*
Proceeds from sale, net of transaction costs of $1	$	108
Non-utility property, less accumulated depreciation		(341	)
Other assets, including working capital		(31	)
Long-term debt, including current portion		217
Other liabilities		9
Gain on sale of solar energy projects		(45	)
Equity method investment upon deconsolidation	$	(83	)

At September 30, 2014, Con Edison’s consolidated balance sheet includes $82 million in investments (including earnings) related to CCH, which assessed in accordance with the accounting rules for variable interest entities, is Con Edison’s current maximum exposure to loss in the entity.

In August 2014, Con Edison Development purchased an 80 percent membership interest in OCI Solar San Antonio 4 LLC (Texas Solar) for $49 million. As a result, Con Edison has a variable interest in Texas Solar, which is a consolidated entity. Texas Solar owns a project company that developed a 40 MW (AC) solar energy project in Texas. Electricity generated by the project is sold to the City of San Antonio pursuant to a long-term power purchase agreement. Con Edison is the primary beneficiary since the power to direct the activities that most significantly impact the economics of Texas Solar is held by Con Edison Development. At September 30, 2014, Con Edison’s consolidated balance sheet includes $58 million in net assets (as detailed in the table below) and the non-controlling interest of the third party of $9 million related to Texas Solar. Earnings for the nine months ended September 30, 2014 were immaterial.


*(Millions of Dollars)*
Restricted cash			$13
Non-utility property, less accumulated depreciation			111
Other assets			12
Total assets (a)			$136
Long-term debt due within one year			$66
Other liabilities			12
Total liabilities (b)			$78

(a)	The assets of Texas Solar represent assets of a consolidated VIE that can be used only to settle obligations of the consolidated VIE.

(b)	The liabilities of Texas Solar represent liabilities of a consolidated VIE for which creditors do not have recourse to the general credit of the primary beneficiary.

CECONY [Member]

Variable Interest Entities

Note N — Variable Interest Entities


*(Millions of Dollars)*
Proceeds from sale, net of transaction costs of $1	$	108
Non-utility property, less accumulated depreciation		(341	)
Other assets, including working capital		(31	)
Long-term debt, including current portion		217
Other liabilities		9
Gain on sale of solar energy projects		(45	)
Equity method investment upon deconsolidation	$	(83	)


*(Millions of Dollars)*
Restricted cash			$13
Non-utility property, less accumulated depreciation			111
Other assets			12
Total assets (a)			$136
Long-term debt due within one year			$66
Other liabilities			12
Total liabilities (b)			$78

(a)	The assets of Texas Solar represent assets of a consolidated VIE that can be used only to settle obligations of the consolidated VIE.

(b)	The liabilities of Texas Solar represent liabilities of a consolidated VIE for which creditors do not have recourse to the general credit of the primary beneficiary.

New Financial Accounting Standards	9 Months Ended
New Financial Accounting Standards	Sep. 30, 2014
New Financial Accounting Standards	Note O — New Financial Accounting Standards In April 2014, the Financial Accounting Standards Board (FASB) issued new amendments on reporting discontinued operations through Accounting Standards Update (ASU) No. 2014-08, “Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity.” The amendments in this update revise the definition of a discontinued operation as a disposal of a component of an entity or a group of components of an entity, or a business or nonprofit activity that represents a strategic shift that has or will have a major effect on an entity’s operations and financial results. The amendments also require additional disclosures for discontinued operations and individually significant disposals that do not qualify for discontinued operations presentation in the financial statements. For public entities, the amendments are effective prospectively for reporting periods beginning on or after December 15, 2014. The application of this guidance is not expected to have a material impact on the Companies’ financial position, results of operations and liquidity. In May 2014, the FASB and the International Accounting Standards Board (IASB) jointly issued a new revenue recognition standard that will supersede the revenue recognition requirements within Accounting Standards Codification (ASC) Topic 605, “Revenue Recognition,” and most industry-specific guidance under the Codification through ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606).” The purpose of the new guidance is to create a consistent framework for revenue recognition. The guidance clarifies how to measure and recognize revenue arising from customer contracts to depict the transfer of goods or services in an amount that reflects the consideration the entity expects to receive. The new guidance must be adopted using either a full retrospective approach or a modified retrospective approach. For public entities reporting under accounting principles generally accepted in the United States of America, the new guidance is effective for periods beginning after December 15, 2016. The Companies are in the process of evaluating the application and impact of the new guidance on the Companies’ financial position, results of operations and liquidity. In June 2014, the FASB issued ASU No. 2014-12, “Compensation—Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period (a consensus of the FASB Emerging Issues Task Force).” The purpose of the amendments is to clarify the accounting treatment regarding performance targets. Under the new guidance, a performance target that affects vesting and that could be achieved after the requisite service period is required to be treated as a performance condition and should not be reflected in estimating the grant-date fair value of the award. Compensation cost should be recognized only when it becomes probable that the performance target will be achieved. The amendments are effective for periods beginning after December 15, 2015. The Companies are in the process of evaluating the application and impact of the new guidance on the Companies’ financial position, results of operations and liquidity. In August 2014, the FASB issued amendments on reporting about an entity’s ability to continue as a going concern in ASU No. 2014-15, “Presentation of Financial Statements—Going Concern (Subtopic 205 – 40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern.” The amendments provide guidance about management’s responsibility to evaluate whether there is substantial doubt surrounding an entity’s ability to continue as a going concern. If management concludes that substantial doubt exists, the amendments also require additional disclosures relating to management’s evaluation and conclusion. The amendments are effective for the annual reporting period ending after December 15, 2016 and interim periods thereafter. The application of this guidance is not expected to have a material impact on the Companies’ financial position, results of operations and liquidity.
CECONY [Member]
New Financial Accounting Standards	Note O — New Financial Accounting Standards In April 2014, the Financial Accounting Standards Board (FASB) issued new amendments on reporting discontinued operations through Accounting Standards Update (ASU) No. 2014-08, “Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity.” The amendments in this update revise the definition of a discontinued operation as a disposal of a component of an entity or a group of components of an entity, or a business or nonprofit activity that represents a strategic shift that has or will have a major effect on an entity’s operations and financial results. The amendments also require additional disclosures for discontinued operations and individually significant disposals that do not qualify for discontinued operations presentation in the financial statements. For public entities, the amendments are effective prospectively for reporting periods beginning on or after December 15, 2014. The application of this guidance is not expected to have a material impact on the Companies’ financial position, results of operations and liquidity. In May 2014, the FASB and the International Accounting Standards Board (IASB) jointly issued a new revenue recognition standard that will supersede the revenue recognition requirements within Accounting Standards Codification (ASC) Topic 605, “Revenue Recognition,” and most industry-specific guidance under the Codification through ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606).” The purpose of the new guidance is to create a consistent framework for revenue recognition. The guidance clarifies how to measure and recognize revenue arising from customer contracts to depict the transfer of goods or services in an amount that reflects the consideration the entity expects to receive. The new guidance must be adopted using either a full retrospective approach or a modified retrospective approach. For public entities reporting under accounting principles generally accepted in the United States of America, the new guidance is effective for periods beginning after December 15, 2016. The Companies are in the process of evaluating the application and impact of the new guidance on the Companies’ financial position, results of operations and liquidity. In June 2014, the FASB issued ASU No. 2014-12, “Compensation—Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period (a consensus of the FASB Emerging Issues Task Force).” The purpose of the amendments is to clarify the accounting treatment regarding performance targets. Under the new guidance, a performance target that affects vesting and that could be achieved after the requisite service period is required to be treated as a performance condition and should not be reflected in estimating the grant-date fair value of the award. Compensation cost should be recognized only when it becomes probable that the performance target will be achieved. The amendments are effective for periods beginning after December 15, 2015. The Companies are in the process of evaluating the application and impact of the new guidance on the Companies’ financial position, results of operations and liquidity. In August 2014, the FASB issued amendments on reporting about an entity’s ability to continue as a going concern in ASU No. 2014-15, “Presentation of Financial Statements—Going Concern (Subtopic 205 – 40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern.” The amendments provide guidance about management’s responsibility to evaluate whether there is substantial doubt surrounding an entity’s ability to continue as a going concern. If management concludes that substantial doubt exists, the amendments also require additional disclosures relating to management’s evaluation and conclusion. The amendments are effective for the annual reporting period ending after December 15, 2016 and interim periods thereafter. The application of this guidance is not expected to have a material impact on the Companies’ financial position, results of operations and liquidity.

Summary of Significant Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2014

Accounting Policies [Abstract]

Earnings per Common Share

Earnings Per Common Share

For the three and nine months ended September 30, 2014 and 2013, basic and diluted earnings per share (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)*	2014		2013		2014		2013
Net income for common stock	$	436	$	464	$	1,010	$	828
Weighted average common shares outstanding – basic		292.9		292.9		292.9		292.9
Add: Incremental shares attributable to effect of potentially dilutive securities		1.1		1.4		1.1		1.4
Adjusted weighted average common shares outstanding – diluted		294.0		294.3		294.0		294.3
Net Income for common stock per common share – basic	$	1.49	$	1.58	$	3.45	$	2.83
Net Income for common stock per common share – diluted	$	1.48	$	1.58	$	3.44	$	2.81

Changes in Accumulated Other Comprehensive Income by Component

Changes in Accumulated Other Comprehensive Income by Component

For the three and nine months ended September 30, 2014 and 2013, changes to accumulated other comprehensive income (OCI) for Con Edison and CECONY are as follows:


	For the Three Months Ended September 30,
	Con Edison						CECONY
*(Millions of Dollars)*	2014			2013			2014			2013
Beginning balance, accumulated OCI, net of taxes	$	(20	)	$	(48	)	$	(5	)	$	(9	)
OCI before reclassifications, net of tax of $- and $- for both Con Edison and CECONY		—			—			—			—
Amounts reclassified from accumulated OCI related to pension and other postretirement benefit plan liabilities, net of tax of $1 and $1 for Con Edison and $- and $- for CECONY, respectively ^(a)(b)		1			2			—			—
Current period total OCI, net of taxes	$	1		$	2		$	—		$	—
Ending balance, accumulated OCI, net of taxes ^(b)	$	(19	)	$	(46	)	$	(5	)	$	(9	)

	For the Nine Months Ended September 30,
	Con Edison						CECONY
*(Millions of Dollars)*	2014			2013			2014			2013
Beginning balance, accumulated OCI, net of taxes	$	(25	)	$	(53	)	$	(6	)	$	(9	)
OCI before reclassifications, net of tax of $1 and $1 for Con Edison and $- and $- for CECONY, respectively		2			1			—			—
Amounts reclassified from accumulated OCI related to pension and other postretirement benefit plan liabilities, net of tax of $3 and $3 for Con Edison and $- and $- for CECONY, respectively ^(a)(b)		4			6			1			—
Current period total OCI, net of taxes	$	6		$	7		$	1		$	—
Ending balance, accumulated OCI, net of taxes ^(b)	$	(19	)	$	(46	)	$	(5	)	$	(9	)

(a)

(b)	Tax reclassified from accumulated OCI is reported in income tax expense.

- Definition

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, 2014

Accounting Policies [Abstract]

Earnings Per Common Share

For the three and nine months ended September 30, 2014 and 2013, basic and diluted earnings per share (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)*	2014		2013		2014		2013
Net income for common stock	$	436	$	464	$	1,010	$	828
Weighted average common shares outstanding – basic		292.9		292.9		292.9		292.9
Add: Incremental shares attributable to effect of potentially dilutive securities		1.1		1.4		1.1		1.4
Adjusted weighted average common shares outstanding – diluted		294.0		294.3		294.0		294.3
Net Income for common stock per common share – basic	$	1.49	$	1.58	$	3.45	$	2.83
Net Income for common stock per common share – diluted	$	1.48	$	1.58	$	3.44	$	2.81

Changes in Accumulated Other Comprehensive Income by Component

For the three and nine months ended September 30, 2014 and 2013, changes to accumulated other comprehensive income (OCI) for Con Edison and CECONY are as follows:


	For the Three Months Ended September 30,
	Con Edison						CECONY
*(Millions of Dollars)*	2014			2013			2014			2013
Beginning balance, accumulated OCI, net of taxes	$	(20	)	$	(48	)	$	(5	)	$	(9	)
OCI before reclassifications, net of tax of $- and $- for both Con Edison and CECONY		—			—			—			—
Amounts reclassified from accumulated OCI related to pension and other postretirement benefit plan liabilities, net of tax of $1 and $1 for Con Edison and $- and $- for CECONY, respectively ^(a)(b)		1			2			—			—
Current period total OCI, net of taxes	$	1		$	2		$	—		$	—
Ending balance, accumulated OCI, net of taxes ^(b)	$	(19	)	$	(46	)	$	(5	)	$	(9	)

	For the Nine Months Ended September 30,
	Con Edison						CECONY
*(Millions of Dollars)*	2014			2013			2014			2013
Beginning balance, accumulated OCI, net of taxes	$	(25	)	$	(53	)	$	(6	)	$	(9	)
OCI before reclassifications, net of tax of $1 and $1 for Con Edison and $- and $- for CECONY, respectively		2			1			—			—
Amounts reclassified from accumulated OCI related to pension and other postretirement benefit plan liabilities, net of tax of $3 and $3 for Con Edison and $- and $- for CECONY, respectively ^(a)(b)		4			6			1			—
Current period total OCI, net of taxes	$	6		$	7		$	1		$	—
Ending balance, accumulated OCI, net of taxes ^(b)	$	(19	)	$	(46	)	$	(5	)	$	(9	)

(a)

(b)	Tax reclassified from accumulated OCI is reported in income tax expense.

- Definition

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, 2014

Text Block [Abstract]

Regulatory Assets and Liabilities

Regulatory Assets and Liabilities

Regulatory assets and liabilities at September 30, 2014 and December 31, 2013 were comprised of the following items:


	Con Edison				CECONY
*(Millions of Dollars)*	2014		2013		2014		2013
Regulatory assets
Unrecognized pension and other postretirement costs	$	2,284	$	2,730	$	2,185	$	2,610
Future income tax		2,191		2,145		2,078		2,030
Environmental remediation costs		899		938		795		830
Deferred storm costs		348		441		252		334
Revenue taxes		218		207		207		196
Surcharge for New York State assessment		144		78		134		74
Pension and other postretirement benefits deferrals		83		237		57		211
Net electric deferrals		68		83		68		83
Unamortized loss on reacquired debt		59		65		57		62
Property tax reconciliation		32		22		—		—
O&R transition bond charges		28		33		—		—
Preferred stock redemption		27		28		27		28
Workers’ compensation		10		12		10		12
Deferred derivative losses – noncurrent		5		8		5		7
Other		156		174		136		162
Regulatory assets – noncurrent		6,552		7,201		6,011		6,639
Deferred derivative losses – current		13		25		12		22
Recoverable energy costs – current		1		4		—		4
Regulatory assets – current		14		29		12		26
Total Regulatory Assets	$	6,566	$	7,230	$	6,023	$	6,665
Regulatory liabilities
Allowance for cost of removal less salvage	$	572	$	540	$	475	$	453
Property tax reconciliation		294		322		294		322
Net unbilled revenue deferrals		120		133		120		133
2014 rate plan base rate revenue deferral		118		—		118		—
Property tax refunds		97		130		97		130
Long-term interest rate reconciliation		85		105		85		105
Carrying charges on repair allowance and bonus depreciation		80		98		64		87
New York State income tax rate change		61		—		57		—
Unrecognized other postretirement benefits costs		50		—		42		—
Pension and other postretirement benefits deferrals		49		50		41		50
World Trade Center settlement proceeds		46		62		46		62
Prudence proceeding		36		40		36		40
Carrying charges on T&D net plant – electric and steam		24		28		22		20
Electric excess earnings		21		22		20		18
Other		248		198		221		178
Regulatory liabilities – noncurrent		1,901		1,728		1,738		1,598
Refundable energy costs – current		118		100		82		66
Deferred derivative gains – current		39		14		31		11
Revenue decoupling mechanism		21		34		20		30
Future income tax		16		—		16		—
Regulatory liabilities – current		194		148		149		107
Total Regulatory Liabilities	$	2,095	$	1,876	$	1,887	$	1,705

Capitalization (Tables)

9 Months Ended

Sep. 30, 2014

Text Block [Abstract]

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, 2014				December 31, 2013
Long-Term Debt (including current portion)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Con Edison	$	11,195	$	12,696	$	10,974	$	12,082
CECONY	$	10,216	$	11,537	$	9,841	$	10,797

Pension Benefits (Tables)

9 Months Ended

Sep. 30, 2014

Pension Plan [Member]

Net Periodic Postretirement Benefit Costs

The components of the Companies’ net periodic benefit costs for the three and nine months ended September 30, 2014 and 2013 were as follows:


	For the Three Months Ended September 30,
	Con Edison						CECONY
*(Millions of Dollars)*	2014			2013			2014			2013
Service cost – including administrative expenses	$	57		$	67		$	53		$	62
Interest cost on projected benefit obligation		143			134			134			126
Expected return on plan assets		(208	)		(187	)		(198	)		(178	)
Recognition of net actuarial loss		154			208			146			197
Recognition of prior service costs		1			1			1			1
NET PERIODIC BENEFIT COST	$	147		$	223		$	136		$	208
Amortization of regulatory asset		1			1			1			1
TOTAL PERIODIC BENEFIT COST	$	148		$	224		$	137		$	209
Cost capitalized		(57	)		(86	)		(54	)		(78	)
Reconciliation to rate level		30			(31	)		28			(34	)
Cost charged to operating expenses	$	121		$	107		$	111		$	97


	For the Nine Months Ended September 30,
	Con Edison						CECONY
*(Millions of Dollars)*	2014			2013			2014			2013
Service cost – including administrative expenses	$	170		$	200		$	158		$	186
Interest cost on projected benefit obligation		429			403			402			377
Expected return on plan assets		(624	)		(563	)		(592	)		(534	)
Recognition of net actuarial loss		464			624			439			591
Recognition of prior service costs		3			4			2			3
NET PERIODIC BENEFIT COST	$	442		$	668		$	409		$	623
Amortization of regulatory asset		2			2			2			2
TOTAL PERIODIC BENEFIT COST	$	444		$	670		$	411		$	625
Cost capitalized		(166	)		(256	)		(156	)		(241	)
Reconciliation to rate level		86			(55	)		78			(56	)
Cost charged to operating expenses	$	364		$	359		$	333		$	328

Other Postretirement Benefits [Member]

Net Periodic Postretirement Benefit Costs

The components of the Companies’ net periodic postretirement benefit costs for the three and nine months ended September 30, 2014 and 2013 were as follows:


	For the Three Months Ended September 30,
	Con Edison						CECONY
*(Millions of Dollars)*	2014			2013			2014			2013
Service cost	$	5		$	6		$	4		$	5
Interest cost on accumulated other postretirement benefit obligation		15			13			13			12
Expected return on plan assets		(19	)		(19	)		(17	)		(17	)
Recognition of net actuarial loss		14			16			13			14
Recognition of prior service cost		(5	)		(7	)		(4	)		(6	)
NET PERIODIC POSTRETIREMENT BENEFIT COST	$	10		$	9		$	9		$	8
Cost capitalized		(4	)		(3	)		(4	)		(3	)
Reconciliation to rate level		3			14			1			12
Cost charged to operating expenses	$	9		$	20		$	6		$	17


	For the Nine Months Ended September 30,
	Con Edison						CECONY
*(Millions of Dollars)*	2014			2013			2014			2013
Service cost	$	14		$	18		$	11		$	14
Interest cost on accumulated other postretirement benefit obligation		45			40			39			34
Expected return on plan assets		(58	)		(58	)		(51	)		(51	)
Recognition of net actuarial loss		43			48			38			43
Recognition of prior service cost		(14	)		(20	)		(11	)		(17	)
NET PERIODIC POSTRETIREMENT BENEFIT COST	$	30		$	28		$	26		$	23
Cost capitalized		(11	)		(10	)		(10	)		(9	)
Reconciliation to rate level		8			43			2			37
Cost charged to operating expenses	$	27		$	61		$	18		$	51

- Definition

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.

+ References+ Details

Environmental Matters (Tables)

9 Months Ended

Sep. 30, 2014

Environmental Remediation Obligations [Abstract]

Accrued Liabilities and Regulatory Assets

The accrued liabilities and regulatory assets related to Superfund Sites at September 30, 2014 and December 31, 2013 were as follows:


	Con Edison				CECONY
*(Millions of Dollars)*	2014		2013		2014		2013
Accrued Liabilities:
Manufactured gas plant sites		$655		$665		$558		$562
Other Superfund Sites		79		84		78		82
Total		$734		$749		$636		$644
Regulatory assets		$899		$938		$795		$830

Environmental Remediation Costs

Environmental remediation costs incurred and insurance recoveries received related to Superfund Sites for the three and nine months ended September 30, 2014 and 2013 were as follows:


	For the Three Months Ended September 30,
	Con Edison				CECONY
(Millions of Dollars)	2014		2013		2014		2013
Remediation costs incurred		$5		$10		$2		$10
Insurance recoveries received		—		—		—		—


	For the Nine Months Ended September 30,
	Con Edison				CECONY
(Millions of Dollars)	2014		2013		2014		2013
Remediation costs incurred		$19		$35		$12		$30
Insurance recoveries received*		$5		—		$5		—
* Reduced amount deferred for recovery from customers

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, 2014 and December 31, 2013 were as follows:


	Con Edison				CECONY
*(Millions of Dollars)*	2014		2013		2014		2013
Accrued liability – asbestos suits	$	8	$	8	$	7	$	7
Regulatory assets – asbestos suits	$	8	$	8	$	7	$	7
Accrued liability – workers’ compensation	$	86	$	87	$	81	$	82
Regulatory assets – workers’ compensation	$	10	$	12	$	10	$	12

Other Material Contingencies (Tables)

9 Months Ended

Sep. 30, 2014

Commitments and Contingencies Disclosure [Abstract]

Total Guarantees

A summary, by type and term, of Con Edison’s total guarantees at September 30, 2014 is as follows:


Guarantee Type	0 – 3 years		4 – 10 years		> 10 years		Total
	*(Millions of Dollars)*
Energy transactions	$	760	$	25	$	96	$	881
Solar energy projects		507		—		—		507
Other		30		—		—		30
Total	$	1,297	$	25	$	96	$	1,418

Lease In/Lease Out Transactions (Tables)

9 Months Ended

Sep. 30, 2014

Leases [Abstract]

Schedule of Effect of LILO Transactions on Consolidated Income Statement

The effect of the LILO transactions on Con Edison’s consolidated income statement for the three and nine months ended as of September 30, 2014 and 2013 was as follows:


	For the Three Months Ended September 30,					For the Nine Months Ended September 30,
*(Millions of Dollars)*	2014		2013			2014			2013
Increase/(decrease) to non-utility operating revenues	$	—	$	44		$	—		$	(27	)
(Increase)/decrease to other interest expense		—		—			13			(131	)
Income tax benefit/(expense)		—		(18	)		(6	)		63
Total increase/(decrease) in net income	$	—	$	26		$	7		$	(95	)

Financial Information by Business Segment (Tables)

9 Months Ended

Sep. 30, 2014

Segment Reporting [Abstract]

Financial Data for Business Segments

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)*	2014			2013		2014			2013			2014		2013		2014			2013
CECONY
Electric	$	2,582		$	2,622	$	4		$	4		$	198	$	188	$	811		$	811
Gas		210			199		1			1			33		33		(14	)		(24	)
Steam		46			72		21			22			19		16		(41	)		(35	)
Consolidation adjustments		—			—		(26	)		(27	)		—		—		—			—
Total CECONY	$	2,838		$	2,893	$	—		$	—		$	250	$	237	$	756		$	752
O&R
Electric	$	205		$	200	$	—		$	—		$	12	$	10	$	51		$	46
Gas		27			26		—			—			4		4		(8	)		(7	)
Total O&R	$	232		$	226	$	—		$	—		$	16	$	14	$	43		$	39
Competitive energy businesses	$	321		$	365	$	(3	)	$	—		$	3	$	6	$	20		$	63
Other*		(1	)		—		3			—			1		1		—			1
Total Con Edison	$	3,390		$	3,484	$	—		$	—		$	270	$	258	$	819		$	855

*	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)*	2014			2013			2014			2013			2014		2013		2014		2013
CECONY
Electric	$	6,635		$	6,309		$	12		$	12		$	581	$	559	$	1,416	$	1,307
Gas		1,359			1,190			4			4			98		97		273		272
Steam		485			522			62			60			58		49		97		80
Consolidation adjustments		—			—			(78	)		(76	)		—		—		—		—
Total CECONY	$	8,479		$	8,021		$	—		$	—		$	737	$	705	$	1,786	$	1,659
O&R
Electric	$	525		$	492		$	—		$	—		$	33	$	31	$	87	$	81
Gas		155			143			—			—			12		11		15		20
Total O&R	$	680		$	635		$	—		$	—		$	45	$	42	$	102	$	101
Competitive energy businesses	$	934		$	834		$	(2	)	$	4		$	14	$	16	$	70	$	7
Other*		(2	)		(3	)		2			(4	)		—		1		1		—
Total Con Edison	$	10,091		$	9,487		$	—		$	—		$	796	$	764	$	1,959	$	1,767

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

- Definition

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, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Values of Commodity Derivatives Including Offsetting of Assets and Liabilities

The fair values of the Companies’ commodity derivatives including the offsetting of assets and liabilities at September 30, 2014 were:


*(Millions of Dollars)*
Commodity Derivatives	Gross Amounts of Recognized Assets/(Liabilities)			Gross Amounts Offset in the Statement of Financial Position			Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position			Gross Amounts Not Offset in the Statement of Financial Position				Net Amount
										Financial instruments		Cash collateral received
Con Edison
Derivative assets	$	240		$	(138	)	$	102	(a)	$	—	$	—	$	102	(a)
Derivative liabilities		(124	)		114			(10	)		—		—		(10	)
Net derivative assets/(liabilities)	$	116		$	(24	)	$	92	(a)	$	—	$	—	$	92	(a)
CECONY
Derivative assets	$	103		$	(63	)	$	40	(a)	$	—	$	—	$	40	(a)
Derivative liabilities		(69	)		65			(4)			—		—		(4)
Net derivative assets/(liabilities)	$	34		$	2		$	36	(a)	$	—	$	—	$	36	(a)

(a)

The fair values of the Companies’ commodity derivatives including the offsetting of assets and liabilities at December 31, 2013 were:


*(Millions of Dollars)*
Commodity Derivatives	Gross Amounts of Recognized Assets/(Liabilities)			Gross Amounts Offset in the Statement of Financial Position			Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position			Gross Amounts Not Offset in the Statement of Financial Position				Net Amount
										Financial instruments		Cash collateral received
Con Edison
Derivative assets	$	166		$	(101	)	$	65	(a)	$	—	$	—	$	65	(a)
Derivative liabilities		(113	)		98			(15	)		—		—		(15	)
Net derivative assets/(liabilities)	$	53		$	(3	)	$	50	(a)	$	—	$	—	$	50	(a)
CECONY
Derivative assets	$	41		$	(32	)	$	9	(a)	$	—	$	—	$	9	(a)
Derivative liabilities		(51	)		37			(14	)		—		—		(14	)
Net derivative assets/(liabilities)	$	(10	)	$	5		$	(5	)(a)	$	—	$	—	$	(5	)(a)

(a)

Fair Values of Companies' Commodity Derivatives

The fair values of the Companies’ commodity derivatives at September 30, 2014 were:


*(Millions of Dollars)*	Fair Value of Commodity Derivatives(a) Balance Sheet Location	Con Edison			CECONY
Derivative Assets
Current	Other current assets	$	192		$	75
Noncurrent	Other deferred charges and noncurrent assets		48			28
Total derivative assets		$	240		$	103
Impact of netting			(130	)		(55	)
Net derivative assets		$	110		$	48
Derivative Liabilities
Current	Fair value of derivative liabilities	$	82		$	40
Noncurrent	Fair value of derivative liabilities		42			29
Total derivative liabilities		$	124		$	69
Impact of netting			(114	)		(65	)
Net derivative liabilities		$	10		$	4

(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, 2013 were:


*(Millions of Dollars)*	Fair Value of Commodity Derivatives(a) Balance Sheet Location	Con Edison			CECONY
Derivative Assets
Current	Other current assets	$	134		$	27
Noncurrent	Other deferred charges and noncurrent assets		32			14
Total derivative assets		$	166		$	41
Impact of netting			(84	)		(16	)
Net derivative assets		$	82		$	25
Derivative Liabilities
Current	Fair value of derivative liabilities	$	82		$	32
Noncurrent	Fair value of derivative liabilities		31			19
Total derivative liabilities		$	113		$	51
Impact of netting			(98	)		(37	)
Net derivative liabilities		$	15		$	14

(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 table presents 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, 2014:


Realized and Unrealized Gains/(Losses) on Commodity Derivatives(a) Deferred or Recognized in Income for the Three Months Ended September 30, 2014
*(Millions of Dollars)*	Balance Sheet Location	Con Edison			CECONY
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Current	Deferred derivative gains	$	(6	)	$	(5	)
Noncurrent	Deferred derivative gains		(5	)		(5	)
Total deferred gains/(losses)		$	(11	)	$	(10	)
Current	Deferred derivative losses	$	(6	)	$	(5	)
Current	Recoverable energy costs		(33	)		(29	)
Noncurrent	Deferred derivative losses		3			3
Total deferred gains/(losses)		$	(36	)	$	(31	)
Net deferred gains/(losses)		$	(47	)	$	(41	)
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense	$	(28	)(b)	$	—
	Gas purchased for resale		(29	)		—
	Non-utility revenue		20	(b)		—
Total pre-tax gain/(loss) recognized in income		$	(37	)	$	—

(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, 2014, Con Edison recorded in purchased power expense an unrealized pre-tax loss of $1 million.


Realized and Unrealized Gains/(Losses) on Commodity Derivatives(a) Deferred or Recognized in Income for the Nine Months Ended September 30, 2014
*(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	$	25		$	20
Noncurrent	Deferred derivative gains		1			1
Total deferred gains/(losses)		$	26		$	21
Current	Deferred derivative losses	$	10		$	10
Current	Recoverable energy costs		54			41
Noncurrent	Deferred derivative losses		3			2
Total deferred gains/(losses)		$	67		$	53
Net deferred gains/(losses)		$	93		$	74
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense	$	134	(b)	$	—
	Gas purchased for resale		(75	)		—
	Non-utility revenue		10	(b)		—
Total pre-tax gain/(loss) recognized in income		$	69		$	—

(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, 2014, Con Edison recorded in purchased power expense an unrealized pre-tax gain of $14 million.

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, 2013:


Realized and Unrealized Gains/(Losses) on Commodity Derivatives(a) Deferred or Recognized in Income for the Three Months Ended September 30, 2013
*(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	$	—		$	—
Noncurrent	Regulatory liabilities		—			—
Total deferred gains/(losses)		$	—		$
Current	Deferred derivative losses	$	11		$	9
Current	Recoverable energy costs		(19	)		(17	)
Noncurrent	Deferred derivative losses		6			7
Total deferred gains/(losses)		$	(2	)	$	(1	)
Net deferred gains/(losses)		$	(2	)	$	(1	)
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense	$	3	(b)	$	—
	Gas purchased for resale		(6	)		—
	Non-utility revenue		7			—
Total pre-tax gain/(loss) recognized in income		$	4		$	—

(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, 2013, Con Edison recorded in purchased power expense an unrealized pre-tax gain of $6 million.


Realized and Unrealized Gains/(Losses) on Commodity Derivatives(a) Deferred or Recognized in Income for the Nine Months Ended September 30, 2013
*(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	$	1		$	1
Noncurrent	Regulatory liabilities		—			—
Total deferred gains/(losses)		$	1		$	1
Current	Deferred derivative losses	$	24		$	19
Current	Recoverable energy costs		(22	)		(19	)
Noncurrent	Deferred derivative losses		3			7
Total deferred gains/(losses)		$	5		$	7
Net deferred gains/(losses)		$	6		$	8
	Income Statement Location
Pre-tax gain/(loss) recognized in income
	Purchased power expense	$	32	(b)	$	—
	Gas purchased for resale		(17	)		—
	Non-utility revenue		8	(b)		—
Total pre-tax gain/(loss) recognized in income		$	23		$	—

(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, 2013, Con Edison recorded in purchased power expense an unrealized pre-tax gain of $22 million.

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)		MWs (b)		Number of Contracts (a)		Dths (b)		Total Number Of Contracts (a)
Con Edison		561		13,588,195		79		5,758		695		75,092,291		1,335
CECONY		75		3,612,475		6		1,500		484		69,880,000		565

(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	$	3		$	2
Collateral posted	$	1		$	—
Additional collateral(b) (downgrade one level from current ratings)	$	—		$	—
Additional collateral(b) (downgrade to below investment grade from current ratings)	$	19	(c)	$	2	(c)

(a)

(b)

(c)

- Definition

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

- Definition

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.

+ References

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-Subparagraph (SX 210.4-08.(n)(2))

-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

+ Details

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2014

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value on Recurring Basis

Assets and liabilities measured at fair value on a recurring basis as of September 30, 2014 are summarized below.


	Level 1				Level 2				Level 3				Netting Adjustments (d)				Total
*(Millions of Dollars)*	Con Edison		CECONY		Con Edison		CECONY		Con Edison		CECONY		Con Edison		CECONY		Con Edison		CECONY
Derivative assets:
Commodity (a)(e)(f)	$	5	$	5	$	152	$	38	$	24	$	11	$	(71)	$	(6)	$	110	$	48
Other assets (c)(e)(f)		163		156		116		106		—		—		—		—		279		262
Total	$	168	$	161	$	268	$	144	$	24	$	11	$	(71)	$	(6)	$	389	$	310
Derivative liabilities:
Commodity (a)(e)(f)	$	4	$	4	$	58	$	16	$	3	$	—	$	(55)	$	(16)	$	10	$	4
Interest rate contract (b)(e)(f)		—		—		—		—		—		—		—		—		—		—
Total	$	4	$	4	$	58	$	16	$	3	$	—	$	(55)	$	(16)	$	10	$	4

(a)	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 L.

(b)	The interest rate contract expired on October 1, 2014. See Note L.

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

(d)	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.

(e)	The Companies’ policy is to recognize transfers into and transfers out of the levels at the end of the reporting period. There were no transfers between levels 1, 2, and 3 for the nine months ended September 30, 2014.

(f)

Assets and liabilities measured at fair value on a recurring basis as of December 31, 2013 are summarized below.


	Level 1				Level 2				Level 3				Netting Adjustments (d)				Total
*(Millions of Dollars)*	Con Edison		CECONY		Con Edison		CECONY		Con Edison		CECONY		Con Edison		CECONY		Con Edison		CECONY
Derivative assets:
Commodity (a)(e)(f)	$	3	$	3	$	130	$	13	$	11	$	6	$	(62)	$	3	$	82	$	25
Other assets (c)(e)(f)		141		134		113		103		—		—		—		—		254		237
Total	$	144	$	137	$	243	$	116	$	11	$	6	$	(62)	$	3	$	336	$	262
Derivative liabilities:
Commodity (a)(e)(f)	$	5	$	5	$	84	$	27	$	2	$	—	$	(76)	$	(18)	$	15	$	14
Interest rate contract (b)(e)(f)		—		—		2		—		—		—		—		—		2		—
Total	$	5	$	5	$	86	$	27	$	2	$	—	$	(76)	$	(18)	$	17	$	14

(a)	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 L.

(b)	See Note L.

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

(d)	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.

(e)	The Companies’ policy is to recognize transfers into and transfers out of the levels at the end of the reporting period. There were no transfers between levels 1, 2, and 3 for the year ended December 31, 2013.

(f)

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, 2014 *(Millions of Dollars)*		Valuation Techniques	Unobservable Inputs	Range
Con Edison—Commodity
Electricity		$ 9	Discounted Cash Flow	Forward energy prices (a)	$28.43-$170.00 per MWH
			Discounted Cash Flow	Forward capacity prices (a)	$5.39-$17.94 per kW-month
Transmission Congestion Contracts / Financial Transmission Rights		12	Discounted Cash Flow	Discount to adjust auction prices for inter-zonal forward price curves (b)	(5.8)%-57.9%
				Discount to adjust auction prices for historical monthly realized settlements (b)	6.1%-49.1%
				Inter-zonal forward price curves adjusted for historical zonal losses (b)	$0.08-$7.61 per MWH
Total Con Edison—Commodity		$21
CECONY—Commodity
Transmission Congestion Contracts		$11	Discounted Cash Flow	Discount to adjust auction prices for inter-zonal forward price curves (b)	(5.8)%-57.9%
				Discount to adjust auction prices for historical monthly realized settlements (b)	6.1%-49.1%

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

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

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


	For the Three Months Ended September 30, 2014
			Total Gains/(Losses)— Realized and Unrealized
*(Millions of Dollars)*	Beginning Balance as of July 1, 2014		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, 2014
Con Edison
Derivatives:
Commodity		$27		$(8)		$(4)		$3		$—		$—		$3		$—		$21
CECONY
Derivatives:
Commodity		$14		$(3)		$(4)		$3		$—		$—		$1		$—		$11

	For the Nine Months Ended September 30, 2014
			Total Gains/(Losses)— Realized and Unrealized
*(Millions of Dollars)*	Beginning Balance as of January 1, 2014		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, 2014
Con Edison
Derivatives:
Commodity		$9		$41		$4		$15		$—		$—		$(48)		$—		$21
CECONY
Derivatives:
Commodity		$6		$6		$4		$13		$—		$—		$(18)		$—		$11


	For Three Months Ended September 30, 2013
			Total Gains/(Losses)— Realized and Unrealized
*(Millions of Dollars)*	Beginning Balance as of July 1, 2013		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, 2013
Con Edison
Derivatives:
Commodity	$	(6)	$	(3	)	$	(2	)	$	5	$	—	$	—	$	(8)	$	—	$	(14)
CECONY
Derivatives:
Commodity	$	8	$	2		$	(1	)	$	5	$	—	$	—	$	(6)	$	—	$	8

	For Nine Months Ended September 30, 2013
			Total Gains/(Losses)— Realized and Unrealized
*(Millions of Dollars)*	Beginning Balance as of January 1, 2013		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, 2013
Con Edison
Derivatives:
Commodity	$	(5)	$	5		$	1		$	12	$	—	$	—	$	(27)	$	—	$	(14)
CECONY
Derivatives:
Commodity	$	10	$	9		$	—		$	10	$	—	$	—	$	(21)	$	—	$	8

Variable Interest Entities (Tables)

9 Months Ended

Sep. 30, 2014

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Sale and Deconsolidation of a Variable Interest Entity


*(Millions of Dollars)*
Proceeds from sale, net of transaction costs of $1	$	108
Non-utility property, less accumulated depreciation		(341	)
Other assets, including working capital		(31	)
Long-term debt, including current portion		217
Other liabilities		9
Gain on sale of solar energy projects		(45	)
Equity method investment upon deconsolidation	$	(83	)

Schedule of Assets and Liabilities Included in Consolidated Balance Sheet

At September 30, 2014, Con Edison’s consolidated balance sheet includes $58 million in net assets (as detailed in the table below) and the non-controlling interest of the third party of $9 million related to Texas Solar. Earnings for the nine months ended September 30, 2014 were immaterial.


*(Millions of Dollars)*
Restricted cash			$13
Non-utility property, less accumulated depreciation			111
Other assets			12
Total assets (a)			$136
Long-term debt due within one year			$66
Other liabilities			12
Total liabilities (b)			$78

(a)	The assets of Texas Solar represent assets of a consolidated VIE that can be used only to settle obligations of the consolidated VIE.

(b)	The liabilities of Texas Solar represent liabilities of a consolidated VIE for which creditors do not have recourse to the general credit of the primary beneficiary.

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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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, 2014	Jun. 30, 2014	Mar. 31, 2014	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Sep. 30, 2014	Sep. 30, 2013
Earnings Per Share [Abstract]
Net income for common stock	$ 436	$ 212	$ 361	$ 464	$ 172	$ 192	$ 1,010	$ 828
Weighted average common shares outstanding - basic	292.9			292.9			292.9	292.9
Add: Incremental shares attributable to effect of potentially dilutive securities	1.1			1.4			1.1	1.4
Adjusted weighted average common shares outstanding - diluted	294.0			294.3			294.0	294.3
Net income for common stock per common share - basic	$ 1.49			$ 1.58			$ 3.45	$ 2.83
Net income for common stock per common share - diluted	$ 1.48			$ 1.58			$ 3.44	$ 2.81

- Definition

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

+ References+ Details

- Definition

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

Summary of Significant Accounting Policies - Changes in Accumulated Other Comprehensive Income by Component (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance, accumulated OCI, net of taxes	$ (20)	$ (48)	$ (25)	$ (53)
OCI before reclassifications, net of tax	0	0	2	1
Amounts reclassified from accumulated OCI related to pension and other postretirement benefit plan liabilities, net of tax	1	2	4	6
TOTAL OTHER COMPREHENSIVE INCOME, NET OF TAXES	1	2	6	7
Ending balance, accumulated OCI, net of taxes	(19)	(46)	(19)	(46)
CECONY [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance, accumulated OCI, net of taxes	(5)	(9)	(6)	(9)
OCI before reclassifications, net of tax	0	0	0	0
Amounts reclassified from accumulated OCI related to pension and other postretirement benefit plan liabilities, net of tax	0	0	1	0
TOTAL OTHER COMPREHENSIVE INCOME, NET OF TAXES	0	0	1	0
Ending balance, accumulated OCI, net of taxes	$ (5)	$ (9)	$ (5)	$ (9)

- Definition

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

+ References+ Details

Summary of Significant Accounting Policies - Changes in Accumulated Other Comprehensive Income by Component (Parenthetical) (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Accumulated Other Comprehensive Income (Loss) [Line Items]
OCI before reclassifications, Tax	$ 0	$ 0	$ 1	$ 1
Amounts reclassified from accumulated OCI related to pension and other postretirement benefit plan liabilities, Tax	1	1	3	3
CECONY [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
OCI before reclassifications, Tax	0	0	0	0
Amounts reclassified from accumulated OCI related to pension and other postretirement benefit plan liabilities, Tax	$ 0	$ 0	$ 0	$ 0

Regulatory Matters - Other Regulatory Matters - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	9 Months Ended		1 Months Ended	9 Months Ended	1 Months Ended	9 Months Ended		9 Months Ended	1 Months Ended			9 Months Ended
	Sep. 30, 2014	Dec. 31, 2013	Jul. 31, 2014 Rockland Electric Company [Member]	Sep. 30, 2014 Rockland Electric Company [Member]	Jul. 31, 2014 Rockland Electric Company [Member] Effective August 1, 2014 [Member]	Sep. 30, 2014 CECONY [Member]	Dec. 31, 2013 CECONY [Member]	Sep. 30, 2014 Orange and Rockland Utilities, Inc. [Member]	Aug. 31, 2014 Pike County Light & Power Company [Member] Effective September 1, 2014 [Member]	Sep. 30, 2014 Pike County Light & Power Company [Member] Effective September 15, 2014 [Member]	Jul. 31, 2014 Deferred Storm Costs [Member] Rockland Electric Company [Member]	Sep. 30, 2014 Storm Damage [Member] Customer
Public Utilities, General Disclosures [Line Items]
Electric rate increases					$ 13.00					$ 1.25
Return on common equity			9.75%
Common equity ratio			50.00%
Regulatory asset	6,566.0	7,230.0				6,023.0	6,665.0				25.6
Regulatory asset recovery period				4 years
Gas rate increases									0.1
Revenues from electric	249
Revenues from gas	32
Revenues from steam service	6
Potential refund to customers	1,603
Overcharges of construction expenditures	208
Regulatory liability	36
Company recovered from related parties	16
Amount recovered for the benefit of customers	15
Additional refundable amounts applicable to customers	25
Number of customers interrupted electric distribution service												1,400,000
Response and restoration costs						500		91
Capital expenditures						$ 148		$ 15

Regulatory Matters - Regulatory Assets and Liabilities (Detail) (USD $) In Millions, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Regulatory assets
Regulatory assets - long-term	$ 6,552	$ 7,201
Regulatory assets - current	14	29
Total Regulatory Assets	6,566.0	7,230.0
Regulatory liabilities
Regulatory liabilities - noncurrent	1,901	1,728
Regulatory liabilities - current	194	148
Total Regulatory Liabilities	2,095	1,876
Allowance for Cost of Removal Less Salvage [Member]
Regulatory liabilities
Regulatory liabilities - noncurrent	572	540
Net Unbilled Revenue Deferrals [Member]
Regulatory liabilities
Regulatory liabilities - noncurrent	120	133
Property Tax Refunds [Member]
Regulatory liabilities
Regulatory liabilities - noncurrent	97	130
Long-Term Interest Rate Reconciliation [Member]
Regulatory liabilities
Regulatory liabilities - noncurrent	85	105
Carrying Charges on Repair Allowance and Bonus Depreciation [Member]
Regulatory liabilities
Regulatory liabilities - noncurrent	80	98
2014 Rate Plan Base Rate Revenue Deferral [Member]
Regulatory liabilities
Regulatory liabilities - noncurrent	118
New York State Income Tax Rate Change [Member]
Regulatory liabilities
Regulatory liabilities - noncurrent	61
World Trade Center Settlement Proceeds [Member]
Regulatory liabilities
Regulatory liabilities - noncurrent	46	62
Pension and Other Postretirement Benefits Deferrals [Member]
Regulatory liabilities
Regulatory liabilities - noncurrent	49	50
Unrecognized Other Postretirement Benefits Costs [Member]
Regulatory liabilities
Regulatory liabilities - noncurrent	50
Prudence Proceeding [Member]
Regulatory liabilities
Regulatory liabilities - noncurrent	36	40
Carrying Charges on Transmission and Distribution Net Plant [Member]
Regulatory liabilities
Regulatory liabilities - noncurrent	24	28
Electric Excess Earnings [Member]
Regulatory liabilities
Regulatory liabilities - noncurrent	21	22
Other Liabilities [Member]
Regulatory liabilities
Regulatory liabilities - noncurrent	248	198
Refundable Energy Costs - Current [Member]
Regulatory liabilities
Regulatory liabilities - current	118	100
Deferred Derivative Gains - Current [Member]
Regulatory liabilities
Regulatory liabilities - current	39	14
Revenue Decoupling Mechanism [Member]
Regulatory liabilities
Regulatory liabilities - current	21	34
Future Income Tax [Member]
Regulatory liabilities
Regulatory liabilities - current	16
Unrecognized Pension and Other Postretirement Costs [Member]
Regulatory assets
Regulatory assets - long-term	2,284	2,730
Future Income Tax [Member]
Regulatory assets
Regulatory assets - long-term	2,191	2,145
Environmental Remediation Costs [Member]
Regulatory assets
Regulatory assets - long-term	899	938
Deferred Storm Costs [Member]
Regulatory assets
Regulatory assets - long-term	348	441
Revenue Taxes [Member]
Regulatory assets
Regulatory assets - long-term	218	207
Surcharge for New York State Assessment [Member]
Regulatory assets
Regulatory assets - long-term	144	78
Net Electric Deferrals [Member]
Regulatory assets
Regulatory assets - long-term	68	83
Unamortized Loss on Reacquired Debt [Member]
Regulatory assets
Regulatory assets - long-term	59	65
Pension and Other Postretirement Benefits Deferrals [Member]
Regulatory assets
Regulatory assets - long-term	83	237
O&R Transition Bond Charges [Member]
Regulatory assets
Regulatory assets - long-term	28	33
Preferred Stock Redemption [Member]
Regulatory assets
Regulatory assets - long-term	27	28
Property Tax Reconciliation [Member]
Regulatory assets
Regulatory assets - long-term	32	22
Regulatory liabilities
Regulatory liabilities - noncurrent	294	322
Workers' Compensation [Member]
Regulatory assets
Regulatory assets - long-term	10	12
Deferred Derivative Losses - Noncurrent [Member]
Regulatory assets
Regulatory assets - long-term	5	8
Other [Member]
Regulatory assets
Regulatory assets - long-term	156	174
Recoverable Energy Costs - Current [Member]
Regulatory assets
Regulatory assets - current	1	4
Deferred Derivative Losses - Current [Member]
Regulatory assets
Regulatory assets - current	13	25
CECONY [Member]
Regulatory assets
Regulatory assets - long-term	6,011	6,639
Regulatory assets - current	12	26
Total Regulatory Assets	6,023.0	6,665.0
Regulatory liabilities
Regulatory liabilities - noncurrent	1,738	1,598
Regulatory liabilities - current	149	107
Total Regulatory Liabilities	1,887	1,705
CECONY [Member] \| Allowance for Cost of Removal Less Salvage [Member]
Regulatory liabilities
Regulatory liabilities - noncurrent	475	453
CECONY [Member] \| Net Unbilled Revenue Deferrals [Member]
Regulatory liabilities
Regulatory liabilities - noncurrent	120	133
CECONY [Member] \| Property Tax Refunds [Member]
Regulatory liabilities
Regulatory liabilities - noncurrent	97	130
CECONY [Member] \| Long-Term Interest Rate Reconciliation [Member]
Regulatory liabilities
Regulatory liabilities - noncurrent	85	105
CECONY [Member] \| Carrying Charges on Repair Allowance and Bonus Depreciation [Member]
Regulatory liabilities
Regulatory liabilities - noncurrent	64	87
CECONY [Member] \| 2014 Rate Plan Base Rate Revenue Deferral [Member]
Regulatory liabilities
Regulatory liabilities - noncurrent	118
CECONY [Member] \| New York State Income Tax Rate Change [Member]
Regulatory liabilities
Regulatory liabilities - noncurrent	57
CECONY [Member] \| World Trade Center Settlement Proceeds [Member]
Regulatory liabilities
Regulatory liabilities - noncurrent	46	62
CECONY [Member] \| Pension and Other Postretirement Benefits Deferrals [Member]
Regulatory liabilities
Regulatory liabilities - noncurrent	41	50
CECONY [Member] \| Unrecognized Other Postretirement Benefits Costs [Member]
Regulatory liabilities
Regulatory liabilities - noncurrent	42
CECONY [Member] \| Prudence Proceeding [Member]
Regulatory liabilities
Regulatory liabilities - noncurrent	36	40
CECONY [Member] \| Carrying Charges on Transmission and Distribution Net Plant [Member]
Regulatory liabilities
Regulatory liabilities - noncurrent	22	20
CECONY [Member] \| Electric Excess Earnings [Member]
Regulatory liabilities
Regulatory liabilities - noncurrent	20	18
CECONY [Member] \| Other Liabilities [Member]
Regulatory liabilities
Regulatory liabilities - noncurrent	221	178
CECONY [Member] \| Refundable Energy Costs - Current [Member]
Regulatory liabilities
Regulatory liabilities - current	82	66
CECONY [Member] \| Deferred Derivative Gains - Current [Member]
Regulatory liabilities
Regulatory liabilities - current	31	11
CECONY [Member] \| Revenue Decoupling Mechanism [Member]
Regulatory liabilities
Regulatory liabilities - current	20	30
CECONY [Member] \| Future Income Tax [Member]
Regulatory liabilities
Regulatory liabilities - current	16
CECONY [Member] \| Unrecognized Pension and Other Postretirement Costs [Member]
Regulatory assets
Regulatory assets - long-term	2,185	2,610
CECONY [Member] \| Future Income Tax [Member]
Regulatory assets
Regulatory assets - long-term	2,078	2,030
CECONY [Member] \| Environmental Remediation Costs [Member]
Regulatory assets
Regulatory assets - long-term	795	830
CECONY [Member] \| Deferred Storm Costs [Member]
Regulatory assets
Regulatory assets - long-term	252	334
CECONY [Member] \| Revenue Taxes [Member]
Regulatory assets
Regulatory assets - long-term	207	196
CECONY [Member] \| Surcharge for New York State Assessment [Member]
Regulatory assets
Regulatory assets - long-term	134	74
CECONY [Member] \| Net Electric Deferrals [Member]
Regulatory assets
Regulatory assets - long-term	68	83
CECONY [Member] \| Unamortized Loss on Reacquired Debt [Member]
Regulatory assets
Regulatory assets - long-term	57	62
CECONY [Member] \| Pension and Other Postretirement Benefits Deferrals [Member]
Regulatory assets
Regulatory assets - long-term	57	211
CECONY [Member] \| Preferred Stock Redemption [Member]
Regulatory assets
Regulatory assets - long-term	27	28
CECONY [Member] \| Property Tax Reconciliation [Member]
Regulatory liabilities
Regulatory liabilities - noncurrent	294	322
CECONY [Member] \| Workers' Compensation [Member]
Regulatory assets
Regulatory assets - long-term	10	12
CECONY [Member] \| Deferred Derivative Losses - Noncurrent [Member]
Regulatory assets
Regulatory assets - long-term	5	7
CECONY [Member] \| Other [Member]
Regulatory assets
Regulatory assets - long-term	136	162
CECONY [Member] \| Recoverable Energy Costs - Current [Member]
Regulatory assets
Regulatory assets - current		4
CECONY [Member] \| Deferred Derivative Losses - Current [Member]
Regulatory assets
Regulatory assets - current	$ 12	$ 22

Capitalization - Additional Information (Detail) (USD $) In Millions, unless otherwise specified							1 Months Ended				9 Months Ended	1 Months Ended
	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2014 Level 2 [Member]	Sep. 30, 2014 Level 3 [Member]	Sep. 30, 2014 CECONY [Member]	Dec. 31, 2013 CECONY [Member]	Feb. 28, 2014 CECONY [Member] 4.70 Percent Debentures [Member]	Mar. 31, 2014 CECONY [Member] 4.45 Percent Debentures [Member]	Apr. 30, 2014 CECONY [Member] 5.55 Percent Debentures [Member]	Sep. 30, 2014 CECONY [Member] Level 2 [Member]	Sep. 30, 2014 CECONY [Member] Level 3 [Member]	May 31, 2014 CCH [Member]
Schedule of Capitalization [Line Items]
Debentures redeemed at maturity							$ 200		$ 275
Debentures interest rate							4.70%	4.45%	5.55%
Period of debentures							10 years	30 years	5 years
Debentures issued								850
Deconsolidated long term debt	11,195	10,974			10,216	9,841						217
Percentage of variable interests sold												50.00%
Long-term debt, fair value	12,696	12,082	12,060	636	11,537	10,797				10,901	636
Tax-exempt debt											$ 636

- Definition

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

Capitalization - Carrying Amounts and Fair Values of Long-Term Debt (Detail) (USD $) In Millions, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Debt Instrument [Line Items]
Carrying Amount	$ 11,195	$ 10,974
Fair Value	12,696	12,082
CECONY [Member]
Debt Instrument [Line Items]
Carrying Amount	10,216	9,841
Fair Value	$ 11,537	$ 10,797

- Definition

+ References+ Details

Short-Term Borrowing - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	9 Months Ended	12 Months Ended
	Sep. 30, 2014	Dec. 31, 2013
Short-term Debt [Line Items]
Commercial paper, outstanding	$ 1,425	$ 1,451
Weighted average interest rate	0.20%	0.20%
Letters of credit outstanding under the credit agreement	11	26
CECONY [Member]
Short-term Debt [Line Items]
Commercial paper, outstanding	1,201	1,210
Weighted average interest rate	0.20%	0.20%
Letters of credit outstanding under the credit agreement	$ 11	$ 11

- Definition

Carrying value as of the balance sheet date of short-term borrowings using unsecured obligations issued by banks, corporations and other borrowers to investors. The maturities of these money market securities generally do not exceed 270 days.

+ References+ Details

Pension Benefits - Companies' Net Periodic Benefit Costs (Detail) (Pension Plan [Member], USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Defined Benefit Plan Disclosure [Line Items]
Service cost - including administrative expenses	$ 57	$ 67	$ 170	$ 200
Interest cost on projected benefit obligation	143	134	429	403
Expected return on plan assets	(208)	(187)	(624)	(563)
Recognition of net actuarial loss	154	208	464	624
Recognition of prior service costs	1	1	3	4
NET PERIODIC BENEFIT COST	147	223	442	668
Amortization of regulatory asset	1	1	2	2
TOTAL PERIODIC BENEFIT COST	148	224	444	670
Cost capitalized	(57)	(86)	(166)	(256)
Reconciliation to rate level	30	(31)	86	(55)
Cost charged to operating expenses	121	107	364	359
CECONY [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost - including administrative expenses	53	62	158	186
Interest cost on projected benefit obligation	134	126	402	377
Expected return on plan assets	(198)	(178)	(592)	(534)
Recognition of net actuarial loss	146	197	439	591
Recognition of prior service costs	1	1	2	3
NET PERIODIC BENEFIT COST	136	208	409	623
Amortization of regulatory asset	1	1	2	2
TOTAL PERIODIC BENEFIT COST	137	209	411	625
Cost capitalized	(54)	(78)	(156)	(241)
Reconciliation to rate level	28	(34)	78	(56)
Cost charged to operating expenses	$ 111	$ 97	$ 333	$ 328

Pension Benefits - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	9 Months Ended
	Sep. 30, 2014
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Estimated future employer contributions	$ 564
Pension Plan [Member] \| CECONY [Member]
Defined Benefit Plan Disclosure [Line Items]
Estimated future employer contributions	524
Non-qualified Supplemental Plan [Member] \| CECONY [Member]
Defined Benefit Plan Disclosure [Line Items]
Contributions	$ 13

Other Postretirement Benefits - Net Periodic Postretirement Benefit Costs (Detail) (Other Postretirement Benefits [Member], USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 5	$ 6	$ 14	$ 18
Interest cost on accumulated other postretirement benefit obligation	15	13	45	40
Expected return on plan assets	(19)	(19)	(58)	(58)
Recognition of net actuarial loss	14	16	43	48
Recognition of prior service cost	(5)	(7)	(14)	(20)
NET PERIODIC POSTRETIREMENT BENEFIT COST	10	9	30	28
Cost capitalized	(4)	(3)	(11)	(10)
Reconciliation to rate level	3	14	8	43
Cost charged to operating expenses	9	20	27	61
CECONY [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	4	5	11	14
Interest cost on accumulated other postretirement benefit obligation	13	12	39	34
Expected return on plan assets	(17)	(17)	(51)	(51)
Recognition of net actuarial loss	13	14	38	43
Recognition of prior service cost	(4)	(6)	(11)	(17)
NET PERIODIC POSTRETIREMENT BENEFIT COST	9	8	26	23
Cost capitalized	(4)	(3)	(10)	(9)
Reconciliation to rate level	1	12	2	37
Cost charged to operating expenses	$ 6	$ 17	$ 18	$ 51

Environmental Matters - Accrued Liabilities and Regulatory Assets (Detail) (USD $) In Millions, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Accrued Liabilities:
Accrued Liabilities	$ 734	$ 749
Regulatory assets	6,566.0	7,230.0
Manufactured Gas Plant Sites [Member]
Accrued Liabilities:
Accrued Liabilities	655	665
Other Superfund Sites [Member]
Accrued Liabilities:
Accrued Liabilities	79	84
Superfund Sites [Member]
Accrued Liabilities:
Accrued Liabilities	734	749
Regulatory assets	899.0	938.0
CECONY [Member]
Accrued Liabilities:
Accrued Liabilities	636	644
Regulatory assets	6,023.0	6,665.0
CECONY [Member] \| Manufactured Gas Plant Sites [Member]
Accrued Liabilities:
Accrued Liabilities	558	562
CECONY [Member] \| Other Superfund Sites [Member]
Accrued Liabilities:
Accrued Liabilities	78	82
CECONY [Member] \| Superfund Sites [Member]
Accrued Liabilities:
Accrued Liabilities	636	644
Regulatory assets	$ 795.0	$ 830.0

- Definition

Carrying value of the obligation (known or estimated) arising from requirements to perform activities to remediate one or more sites, payable after twelve months or beyond the next operating cycle if longer.

+ References+ Details

Environmental Matters - Environmental Remediation Costs (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Environmental Exit Cost [Line Items]
Remediation costs incurred	$ 5	$ 10	$ 19	$ 35
Insurance recoveries received			5
CECONY [Member]
Environmental Exit Cost [Line Items]
Remediation costs incurred	2	10	12	30
Insurance recoveries received			$ 5

Environmental Matters - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2013
Asbestos Proceedings [Member]
Site Contingency [Line Items]
Estimated undiscounted asbestos liability	$ 8
CECONY [Member] \| Asbestos Proceedings [Member]
Site Contingency [Line Items]
Estimated undiscounted asbestos liability	7
Estimated undiscounted asbestos liability in year	15 years
CECONY [Member] \| Superfund Sites [Member] \| Manufactured Gas Plant Sites [Member]
Site Contingency [Line Items]
Estimated aggregate undiscounted potential liability related environmental contaminants	2,400
Orange and Rockland Utilities, Inc. [Member] \| Superfund Sites [Member] \| Manufactured Gas Plant Sites [Member]
Site Contingency [Line Items]
Estimated aggregate undiscounted potential liability related environmental contaminants	$ 167

Environmental Matters - Accrued Liability for Asbestos Suits and Workers' Compensation Proceedings (Detail) (USD $) In Millions, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Site Contingency [Line Items]
Regulatory assets	$ 6,566.0	$ 7,230.0
Asbestos Suits [Member]
Site Contingency [Line Items]
Accrued liability	8	8
Regulatory assets	8.0	8.0
Workers Compensation Insurance [Member]
Site Contingency [Line Items]
Accrued liability	86	87
Regulatory assets	10.0	12.0
CECONY [Member]
Site Contingency [Line Items]
Regulatory assets	6,023.0	6,665.0
CECONY [Member] \| Asbestos Suits [Member]
Site Contingency [Line Items]
Accrued liability	7	7
Regulatory assets	7.0	7.0
CECONY [Member] \| Workers Compensation Insurance [Member]
Site Contingency [Line Items]
Accrued liability	81	82
Regulatory assets	$ 10.0	$ 12.0

Other Material Contingencies - Additional Information (Detail) (USD $)	1 Months Ended	9 Months Ended
	Jul. 31, 2007 Person	Sep. 30, 2014 People Entity Lawsuits	Dec. 31, 2013
Operating Leased Assets [Line Items]
Number of person died in steam ruptured	1
Number of suits pending against the company		90
Insurance receivable for suits		$ 50,000,000
Description of explosion and fire incident		On March 12, 2014, two multi-use five-story tall buildings located on Park Avenue between 116th and 117th Street in Manhattan were destroyed by an explosion and fire. CECONY had delivered gas to the buildings through service lines from a distribution main located below ground on Park Avenue. Eight people died and more than 48 people were injured. Additional buildings were also damaged.
Number of people died in explosion and fire incident		8
Number of people injured in explosion and fire incident		48
Guarantee obligations maximum exposure		1,418,000,000	1,331,000,000
Number of entities		2
Manhattan Explosion and Fire [Member]
Operating Leased Assets [Line Items]
Number of suits pending against the company		20
Con Edison Development [Member]
Operating Leased Assets [Line Items]
Percentage of variable interests		50.00%
Number of guaranteed payments		2
Con Edison Development [Member] \| Guarantee One [Member]
Operating Leased Assets [Line Items]
Guarantee obligations maximum exposure		78,000,000
Con Edison Development [Member] \| Guarantee Two [Member]
Operating Leased Assets [Line Items]
Guarantee obligations maximum exposure		69,000,000
Construction and Operation of Solar Energy Facilities [Member]
Operating Leased Assets [Line Items]
Guarantees issued		3,000,000
Other [Member]
Operating Leased Assets [Line Items]
Guarantee obligations maximum exposure		30,000,000
Estimate of maximum potential obligation		5,000,000
Indemnity agreements amount		25,000,000
Insurance Receivable [Member]
Operating Leased Assets [Line Items]
Estimated accrued liability for suits		$ 50,000,000

Other Material Contingencies - Total Guarantees (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Guarantor Obligations [Line Items]
Total guarantees, by type and term	$ 1,418,000,000	$ 1,331,000,000
Energy Transactions [Member]
Guarantor Obligations [Line Items]
Total guarantees, by type and term	881,000,000
Solar Energy Projects [Member]
Guarantor Obligations [Line Items]
Total guarantees, by type and term	507,000,000
Other [Member]
Guarantor Obligations [Line Items]
Total guarantees, by type and term	30,000,000
0 - 3 years [Member]
Guarantor Obligations [Line Items]
Total guarantees, by type and term	1,297,000,000
0 - 3 years [Member] \| Energy Transactions [Member]
Guarantor Obligations [Line Items]
Total guarantees, by type and term	760,000,000
0 - 3 years [Member] \| Solar Energy Projects [Member]
Guarantor Obligations [Line Items]
Total guarantees, by type and term	507,000,000
0 - 3 years [Member] \| Other [Member]
Guarantor Obligations [Line Items]
Total guarantees, by type and term	30,000,000
4 - 10 years [Member]
Guarantor Obligations [Line Items]
Total guarantees, by type and term	25,000,000
4 - 10 years [Member] \| Energy Transactions [Member]
Guarantor Obligations [Line Items]
Total guarantees, by type and term	25,000,000
Greater than 10 years [Member]
Guarantor Obligations [Line Items]
Total guarantees, by type and term	96,000,000
Greater than 10 years [Member] \| Energy Transactions [Member]
Guarantor Obligations [Line Items]
Total guarantees, by type and term	$ 96,000,000

Lease In/Lease Out Transactions - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	1 Months Ended		3 Months Ended			12 Months Ended
	Mar. 31, 2013	Jan. 31, 2013	Mar. 31, 2014	Sep. 30, 2013	Jun. 30, 2013	Dec. 31, 2013
Operating Leased Assets [Line Items]
Estimated charge after-tax	$ 150
Reduced interest expense			13
Uncertain tax positions, net of tax			7
Gain from LILO transaction termination				26	29
Defray of interest charges relating to potential tax liability		447
Refund from IRS						10
Settlement of tax and interest						38
Transaction One [Member]
Operating Leased Assets [Line Items]
Returned deposit from Internal Revenue Service (IRS)						125
Transaction Two [Member]
Operating Leased Assets [Line Items]
Returned deposit from Internal Revenue Service (IRS)						$ 48

Income Tax - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	1 Months Ended	3 Months Ended				9 Months Ended
	Mar. 31, 2014	Sep. 30, 2014	Mar. 31, 2014	Sep. 30, 2013	Mar. 31, 2013	Sep. 30, 2014	Sep. 30, 2013
Operating Loss Carryforwards [Line Items]
Income tax benefits		$ 259		$ 250		$ 559	$ 373
Effective tax rate		37.00%		35.00%		36.00%	31.00%
Increase (decrease) in income tax expense					(15)
Corporate franchise tax rate	7.10%
Decrease in accumulated deferred tax liabilities						72
Decrease in regulatory asset						11
Increase in regulatory liability						61
Federal income tax benefits				13
Increase in estimated prior year liabilities			25
Uncertain tax positions		34				34
Uncertain tax positions expected to resolve in next twelve months		25				25
Unrecognized tax benefits, if recognized, would reduce effective tax rate		34				34
Federal Taxes [Member]
Operating Loss Carryforwards [Line Items]
Unrecognized tax benefits, if recognized, would reduce effective tax rate, net of federal taxes		22				22
Uncertain tax positions expected to resolve in next twelve months, net of federal taxes		16				16
Beginning January 1, 2016 [Member]
Operating Loss Carryforwards [Line Items]
Corporate franchise tax rate	6.50%
CECONY [Member]
Operating Loss Carryforwards [Line Items]
Income tax benefits		233		222		496	431
Effective tax rate		37.00%		36.00%		35.00%	34.00%
Decrease in accumulated deferred tax liabilities						67
Decrease in regulatory asset						10
Increase in regulatory liability						57
Federal income tax benefits				7
Uncertain tax positions		2				2
Uncertain tax positions expected to resolve in next twelve months		2				2
CECONY [Member] \| Federal Taxes [Member]
Operating Loss Carryforwards [Line Items]
Uncertain tax positions expected to resolve in next twelve months, net of federal taxes		1				1
Con Edison [Member]
Operating Loss Carryforwards [Line Items]
Income tax benefits				$ 6			$ 6

Financial Information by Business Segment - Financial Data for Business Segments (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Segment Reporting Information [Line Items]
Operating revenues	$ 3,390	$ 3,484	$ 10,091	$ 9,487
Depreciation and amortization	270	258	796	764
Operating income	819	855	1,959	1,767
CECONY [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	250	237	737	705
Operating income	756	752	1,786	1,659
CECONY [Member] \| Electric [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	198	188	581	559
Operating income	811	811	1,416	1,307
CECONY [Member] \| Gas [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	33	33	98	97
Operating income	(14)	(24)	273	272
CECONY [Member] \| Steam [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	19	16	58	49
Operating income	(41)	(35)	97	80
Orange and Rockland Utilities, Inc. [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	16	14	45	42
Operating income	43	39	102	101
Orange and Rockland Utilities, Inc. [Member] \| Electric [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	12	10	33	31
Operating income	51	46	87	81
Orange and Rockland Utilities, Inc. [Member] \| Gas [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	4	4	12	11
Operating income	(8)	(7)	15	20
Competitive Energy Businesses [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	3	6	14	16
Operating income	20	63	70	7
Other [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	1	1		1
Operating income		1	1
Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating revenues	3,390	3,484	10,091	9,487
Operating Segments [Member] \| CECONY [Member]
Segment Reporting Information [Line Items]
Operating revenues	2,838	2,893	8,479	8,021
Operating Segments [Member] \| CECONY [Member] \| Electric [Member]
Segment Reporting Information [Line Items]
Operating revenues	2,582	2,622	6,635	6,309
Operating Segments [Member] \| CECONY [Member] \| Gas [Member]
Segment Reporting Information [Line Items]
Operating revenues	210	199	1,359	1,190
Operating Segments [Member] \| CECONY [Member] \| Steam [Member]
Segment Reporting Information [Line Items]
Operating revenues	46	72	485	522
Operating Segments [Member] \| Orange and Rockland Utilities, Inc. [Member]
Segment Reporting Information [Line Items]
Operating revenues	232	226	680	635
Operating Segments [Member] \| Orange and Rockland Utilities, Inc. [Member] \| Electric [Member]
Segment Reporting Information [Line Items]
Operating revenues	205	200	525	492
Operating Segments [Member] \| Orange and Rockland Utilities, Inc. [Member] \| Gas [Member]
Segment Reporting Information [Line Items]
Operating revenues	27	26	155	143
Operating Segments [Member] \| Competitive Energy Businesses [Member]
Segment Reporting Information [Line Items]
Operating revenues	321	365	934	834
Operating Segments [Member] \| Other [Member]
Segment Reporting Information [Line Items]
Operating revenues	(1)		(2)	(3)
Inter-Segment Revenues [Member] \| CECONY [Member] \| Electric [Member]
Segment Reporting Information [Line Items]
Operating revenues	4	4	12	12
Inter-Segment Revenues [Member] \| CECONY [Member] \| Gas [Member]
Segment Reporting Information [Line Items]
Operating revenues	1	1	4	4
Inter-Segment Revenues [Member] \| CECONY [Member] \| Steam [Member]
Segment Reporting Information [Line Items]
Operating revenues	21	22	62	60
Inter-Segment Revenues [Member] \| CECONY [Member] \| Consolidation Adjustments [Member]
Segment Reporting Information [Line Items]
Operating revenues	(26)	(27)	(78)	(76)
Inter-Segment Revenues [Member] \| Competitive Energy Businesses [Member]
Segment Reporting Information [Line Items]
Operating revenues	(3)		(2)	4
Inter-Segment Revenues [Member] \| Other [Member]
Segment Reporting Information [Line Items]
Operating revenues	$ 3		$ 2	$ (4)

Derivative Instruments and Hedging Activities - Fair Values of Commodity Derivatives Including Offsetting of Assets and Liabilities (Detail) (USD $) In Millions, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Derivatives, Fair Value [Line Items]
Gross Amounts of Recognized Assets/(Liabilities)	$ 116	$ 53
Gross Amounts Offset in the Statement of Financial Position	(24)	(3)
Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position	92	50
Net Amount	92	50
Derivative Liabilities [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts of Recognized Assets/(Liabilities)	(124)	(113)
Gross Amounts Offset in the Statement of Financial Position	114	98
Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position	(10)	(15)
Net Amount	(10)	(15)
Derivative Assets [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts of Recognized Assets/(Liabilities)	240	166
Gross Amounts Offset in the Statement of Financial Position	(138)	(101)
Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position	102	65
Net Amount	102	65
Financial Instruments [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts Not Offset in the Statement of Financial Position	0	0
Financial Instruments [Member] \| Derivative Liabilities [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts Not Offset in the Statement of Financial Position	0	0
Financial Instruments [Member] \| Derivative Assets [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts Not Offset in the Statement of Financial Position	0	0
Cash Collateral Received [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts Not Offset in the Statement of Financial Position	0	0
Cash Collateral Received [Member] \| Derivative Liabilities [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts Not Offset in the Statement of Financial Position	0	0
Cash Collateral Received [Member] \| Derivative Assets [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts Not Offset in the Statement of Financial Position	0	0
CECONY [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts of Recognized Assets/(Liabilities)	34	(10)
Gross Amounts Offset in the Statement of Financial Position	2	5
Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position	36	(5)
Net Amount	36	(5)
CECONY [Member] \| Derivative Liabilities [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts of Recognized Assets/(Liabilities)	(69)	(51)
Gross Amounts Offset in the Statement of Financial Position	65	37
Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position	(4)	(14)
Net Amount	(4)	(14)
CECONY [Member] \| Derivative Assets [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts of Recognized Assets/(Liabilities)	103	41
Gross Amounts Offset in the Statement of Financial Position	(63)	(32)
Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position	40	9
Net Amount	40	9
CECONY [Member] \| Financial Instruments [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts Not Offset in the Statement of Financial Position	0	0
CECONY [Member] \| Financial Instruments [Member] \| Derivative Liabilities [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts Not Offset in the Statement of Financial Position	0	0
CECONY [Member] \| Financial Instruments [Member] \| Derivative Assets [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts Not Offset in the Statement of Financial Position	0	0
CECONY [Member] \| Cash Collateral Received [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts Not Offset in the Statement of Financial Position	0	0
CECONY [Member] \| Cash Collateral Received [Member] \| Derivative Liabilities [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts Not Offset in the Statement of Financial Position	0	0
CECONY [Member] \| Cash Collateral Received [Member] \| Derivative Assets [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts Not Offset in the Statement of Financial Position	$ 0	$ 0

Derivative Instruments and Hedging Activities - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2014 Contract
Investment Holdings [Line Items]
Energy supply and hedging activities credit exposure total	$ 151	$ 151
Makeup of net credit exposure independent system operators		54
Makeup of net credit exposure with commodity exchange brokers	63	63
Makeup of net credit exposure with investment-grade counterparties	31	31
Makeup of net credit exposure non-investment grade/non-rated counterparties		3
Number of contracts		1,335
Expiration date of interest rate swap		Oct. 01, 2014
Increase in the fair value of interest rate swap	1	2
Interest Rate Swap [Member]
Investment Holdings [Line Items]
Derivative, fixed interest rate	6.09%	6.09%
CECONY [Member]
Investment Holdings [Line Items]
Energy supply and hedging activities credit exposure total	28	28
Makeup of net credit exposure with commodity exchange brokers	20	20
Makeup of net credit exposure with investment-grade counterparties	$ 8	$ 8
Number of contracts		565

Derivative Instruments and Hedging Activities - Fair Values of Companies' Commodity Derivatives (Detail) (USD $) In Millions, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Derivative Assets
Fair value of derivative assets	$ 240	$ 166
Impact of netting	(130)	(84)
Net derivatives assets	110	82
Derivative Liabilities
Fair value of derivative liabilities	124	113
Impact of netting	(114)	(98)
Net derivatives liabilities	10	15
Other Current Assets [Member]
Derivative Assets
Fair value of derivative assets	192	134
Other Deferred Charges and Noncurrent Assets [Member]
Derivative Assets
Fair value of derivative assets	48	32
Fair Value of Derivative Liabilities, Current [Member]
Derivative Liabilities
Fair value of derivative liabilities	82	82
Fair Value of Derivative Liabilities, Noncurrent [Member]
Derivative Liabilities
Fair value of derivative liabilities	42	31
CECONY [Member]
Derivative Assets
Fair value of derivative assets	103	41
Impact of netting	(55)	(16)
Net derivatives assets	48	25
Derivative Liabilities
Fair value of derivative liabilities	69	51
Impact of netting	(65)	(37)
Net derivatives liabilities	4	14
CECONY [Member] \| Other Current Assets [Member]
Derivative Assets
Fair value of derivative assets	75	27
CECONY [Member] \| Other Deferred Charges and Noncurrent Assets [Member]
Derivative Assets
Fair value of derivative assets	28	14
CECONY [Member] \| Fair Value of Derivative Liabilities, Current [Member]
Derivative Liabilities
Fair value of derivative liabilities	40	32
CECONY [Member] \| Fair Value of Derivative Liabilities, Noncurrent [Member]
Derivative Liabilities
Fair value of derivative liabilities	$ 29	$ 19

- Definition

Fair value, after offset of derivative liability, of financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset, before offset against an obligation to return collateral under a master netting arrangement. Includes assets elected not to be offset. Excludes assets not subject to a master netting arrangement.

+ References+ Details

- Definition

Fair value, after offset of derivative asset, of financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset, elected not to be and before offset against a right to receive collateral under a master netting arrangement. Includes liabilities elected not to be offset. Excludes liabilities not subject to a master netting arrangement.

+ References+ Details

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, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Total deferred gains/(losses)	$ (11)		$ 26	$ 1
Total deferred gains/(losses)	(36)	(2)	67	5
Net deferred gains/(losses)	(47)	(2)	93	6
Pre-tax gain/(loss) recognized in income
Total pre-tax gain/(loss) recognized in income	(37)	4	69	23
Deferred Derivative Gains - Current [Member]
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Total deferred gains/(losses)	(6)		25	1
Deferred Derivative Losses, Current [Member]
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Total deferred gains/(losses)	(6)	11	10	24
Recoverable Energy Costs - Current [Member]
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Total deferred gains/(losses)	(33)	(19)	54	(22)
Deferred Derivative Losses, Noncurrent [Member]
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Total deferred gains/(losses)	3	6	3	3
Deferred Derivative Gains, Noncurrent [Member]
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Total deferred gains/(losses)	(5)		1
CECONY [Member]
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Total deferred gains/(losses)	(10)		21	1
Total deferred gains/(losses)	(31)	(1)	53	7
Net deferred gains/(losses)	(41)	(1)	74	8
Pre-tax gain/(loss) recognized in income
Total pre-tax gain/(loss) recognized in income
CECONY [Member] \| Deferred Derivative Gains - Current [Member]
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Total deferred gains/(losses)	(5)		20	1
CECONY [Member] \| Deferred Derivative Losses, Current [Member]
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Total deferred gains/(losses)	(5)	9	10	19
CECONY [Member] \| Recoverable Energy Costs - Current [Member]
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Total deferred gains/(losses)	(29)	(17)	41	(19)
CECONY [Member] \| Deferred Derivative Losses, Noncurrent [Member]
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Total deferred gains/(losses)	3	7	2	7
CECONY [Member] \| Deferred Derivative Gains, Noncurrent [Member]
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Total deferred gains/(losses)	(5)		1
Purchased Power Costs [Member]
Pre-tax gain/(loss) recognized in income
Total pre-tax gain/(loss) recognized in income	(28)	3	134	32
Purchased Power Costs [Member] \| CECONY [Member]
Pre-tax gain/(loss) recognized in income
Total pre-tax gain/(loss) recognized in income
Gas Purchased for Resale [Member]
Pre-tax gain/(loss) recognized in income
Total pre-tax gain/(loss) recognized in income	(29)	(6)	(75)	(17)
Gas Purchased for Resale [Member] \| CECONY [Member]
Pre-tax gain/(loss) recognized in income
Total pre-tax gain/(loss) recognized in income
Non-utility Revenue [Member]
Pre-tax gain/(loss) recognized in income
Total pre-tax gain/(loss) recognized in income	20	7	10	8
Non-utility Revenue [Member] \| CECONY [Member]
Pre-tax gain/(loss) recognized in income
Total pre-tax gain/(loss) recognized in income

Derivative Instruments and Hedging Activities - Changes in Fair Values of Commodity Derivatives (Parenthetical) (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended	9 Months Ended		3 Months Ended
	Sep. 30, 2014 Purchased Power Costs [Member]	Sep. 30, 2014 Purchased Power Costs [Member]	Sep. 30, 2013 Purchased Power Costs [Member]	Sep. 30, 2013 Non Utility Operating Revenue [Member]
Derivatives, Fair Value [Line Items]
Unrealized gain/(loss) on derivatives	$ 1	$ 14	$ 22	$ 6

Derivative Instruments and Hedging Activities - Number of Derivative Contracts by Commodity Type (Detail)	9 Months Ended
	Sep. 30, 2014 Contract
Derivatives, Fair Value [Line Items]
Total Number of Contracts	1,335
CECONY [Member]
Derivatives, Fair Value [Line Items]
Total Number of Contracts	565
Electric Derivatives [Member]
Derivatives, Fair Value [Line Items]
Number of Energy Contracts	561
MWHs	13,588,195
Number of Capacity Contracts	79
MWs	5,758
Electric Derivatives [Member] \| CECONY [Member]
Derivatives, Fair Value [Line Items]
Number of Energy Contracts	75
MWHs	3,612,475
Number of Capacity Contracts	6
MWs	1,500
Gas Derivatives [Member]
Derivatives, Fair Value [Line Items]
Number of Energy Contracts	695
Dths	75,092,291
Gas Derivatives [Member] \| CECONY [Member]
Derivatives, Fair Value [Line Items]
Number of Energy Contracts	484
Dths	69,880,000

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, 2014
Derivatives, Fair Value [Line Items]
Aggregate fair value - net liabilities	$ 3
Collateral posted	1
Downgrade to Below Investment Grade from Current Ratings [Member]
Derivatives, Fair Value [Line Items]
Derivatives in net liability position additional collateral	19
CECONY [Member]
Derivatives, Fair Value [Line Items]
Aggregate fair value - net liabilities	2
CECONY [Member] \| Downgrade to Below Investment Grade from Current Ratings [Member]
Derivatives, Fair Value [Line Items]
Derivatives in net liability position additional collateral	$ 2

Derivative Instruments and Hedging Activities - Aggregate Fair Value of All Derivative Instruments with Credit-Risk-Related Contingent Features (Parenthetical) (Detail) (USD $) In Millions, unless otherwise specified	Sep. 30, 2014
Derivatives, Fair Value [Line Items]
Collateral posted	$ 1
Downgrade to Below Investment Grade from Current Ratings [Member]
Derivatives, Fair Value [Line Items]
Derivatives in net asset position additional collateral	28
Downgrade to Below Investment Grade from Current Ratings [Member] \| CECONY [Member]
Derivatives, Fair Value [Line Items]
Derivatives in net asset position additional collateral	1
Additional Collateral Required Due To Loss Of Unsecured Credit [Member]
Derivatives, Fair Value [Line Items]
Collateral posted	17
Additional Collateral Required Due To Loss Of Unsecured Credit [Member] \| CECONY [Member]
Derivatives, Fair Value [Line Items]
Collateral posted	$ 5

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) (USD $) In Millions, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	$ 389	$ 336
Total liabilities	10	17
CECONY [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	310	262
Total liabilities	4	14
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	168	144
Total liabilities	4	5
Level 1 [Member] \| CECONY [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	161	137
Total liabilities	4	5
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	268	243
Total liabilities	58	86
Level 2 [Member] \| CECONY [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	144	116
Total liabilities	16	27
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	24	11
Total liabilities	3	2
Level 3 [Member] \| CECONY [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	11	6
Commodity [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	110	82
Derivative liabilities	10	15
Commodity [Member] \| CECONY [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	48	25
Derivative liabilities	4	14
Commodity [Member] \| Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	5	3
Derivative liabilities	4	5
Commodity [Member] \| Level 1 [Member] \| CECONY [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	5	3
Derivative liabilities	4	5
Commodity [Member] \| Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	152	130
Derivative liabilities	58	84
Commodity [Member] \| Level 2 [Member] \| CECONY [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	38	13
Derivative liabilities	16	27
Commodity [Member] \| Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	24	11
Derivative liabilities	3	2
Commodity [Member] \| Level 3 [Member] \| CECONY [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	11	6
Other Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	279	254
Other Assets [Member] \| CECONY [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	262	237
Other Assets [Member] \| Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	163	141
Other Assets [Member] \| Level 1 [Member] \| CECONY [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	156	134
Other Assets [Member] \| Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	116	113
Other Assets [Member] \| Level 2 [Member] \| CECONY [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	106	103
Interest Rate Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities		2
Interest Rate Contract [Member] \| Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities		2
Netting Adjustments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	(71)	(62)
Total liabilities	(55)	(76)
Netting Adjustments [Member] \| CECONY [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	(6)	3
Total liabilities	(16)	(18)
Netting Adjustments [Member] \| Commodity [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	(71)	(62)
Derivative liabilities	(55)	(76)
Netting Adjustments [Member] \| Commodity [Member] \| CECONY [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	(6)	3
Derivative liabilities	$ (16)	$ (18)

- Definition

Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset.

+ References+ Details

- Definition

Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities not subject to a master netting arrangement and not elected to be offset.

+ References+ Details

Fair Value Measurements - Schedule of Commodity Derivatives (Detail) (USD $) In Millions, unless otherwise specified	9 Months Ended
	Sep. 30, 2014
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Valuation Techniques	Discounted Cash Flow
Electricity [Member]
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Valuation Techniques	Discounted Cash Flow
Transmission Congestion Contracts / Financial Transmission Rights [Member]
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Valuation Techniques	Discounted Cash Flow
Minimum [Member] \| Discount to Adjust Auction Prices for Inter-Zonal Forward Price Curves [Member]
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Unobservable Inputs Range in percentage	(5.80%)
Minimum [Member] \| Discount to Adjust Auction Prices for Historical Monthly Realized Settlements [Member]
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Unobservable Inputs Range in percentage	6.10%
Minimum [Member] \| Inter-Zonal Forward Price Curves Adjusted for Historical Zonal Losses [Member]
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Unobservable Inputs Range	0.08
Minimum [Member] \| Forward Energy Prices [Member]
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Unobservable Inputs Range	28.43
Minimum [Member] \| Forward Capacity Prices [Member]
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Unobservable Inputs Range	5.39
Maximum [Member] \| Discount to Adjust Auction Prices for Inter-Zonal Forward Price Curves [Member]
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Unobservable Inputs Range in percentage	57.90%
Maximum [Member] \| Discount to Adjust Auction Prices for Historical Monthly Realized Settlements [Member]
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Unobservable Inputs Range in percentage	49.10%
Maximum [Member] \| Inter-Zonal Forward Price Curves Adjusted for Historical Zonal Losses [Member]
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Unobservable Inputs Range	7.61
Maximum [Member] \| Forward Energy Prices [Member]
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Unobservable Inputs Range	170
Maximum [Member] \| Forward Capacity Prices [Member]
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Unobservable Inputs Range	17.94
Level 3 [Member]
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Fair Value of commodity derivatives	$ 21
Level 3 [Member] \| Electricity [Member]
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Fair Value of commodity derivatives	9
Level 3 [Member] \| Transmission Congestion Contracts / Financial Transmission Rights [Member]
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Fair Value of commodity derivatives	12
CECONY [Member] \| Transmission Congestion Contracts [Member]
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Valuation Techniques	Discounted Cash Flow
CECONY [Member] \| Minimum [Member] \| Discount to Adjust Auction Prices for Inter-Zonal Forward Price Curves [Member]
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Unobservable Inputs Range in percentage	(5.80%)
CECONY [Member] \| Minimum [Member] \| Discount to Adjust Auction Prices for Historical Monthly Realized Settlements [Member]
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Unobservable Inputs Range in percentage	6.10%
CECONY [Member] \| Maximum [Member] \| Discount to Adjust Auction Prices for Inter-Zonal Forward Price Curves [Member]
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Unobservable Inputs Range in percentage	57.90%
CECONY [Member] \| Maximum [Member] \| Discount to Adjust Auction Prices for Historical Monthly Realized Settlements [Member]
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Unobservable Inputs Range in percentage	49.10%
CECONY [Member] \| Level 3 [Member] \| Transmission Congestion Contracts [Member]
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Fair Value of commodity derivatives	$ 11

Fair Value Measurements - Reconciliation of Beginning and Ending Net Balances for Assets and Liabilities Measured at Level 3 Fair Value (Detail) (Commodity [Member], USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning Balance	$ 27	$ (6)	$ 9	$ (5)
Included in Earnings	(8)	(3)	41	5
Included in Regulatory Assets and Liabilities	(4)	(2)	4	1
Purchases	3	5	15	12
Issuances
Sales
Settlements	3	(8)	(48)	(27)
Transfer In/Out of Level 3
Ending Balance	21	(14)	21	(14)
CECONY [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning Balance	14	8	6	10
Included in Earnings	(3)	2	6	9
Included in Regulatory Assets and Liabilities	(4)	(1)	4
Purchases	3	5	13	10
Issuances
Sales
Settlements	1	(6)	(18)	(21)
Transfer In/Out of Level 3
Ending Balance	$ 11	$ 8	$ 11	$ 8

Fair Value Measurements - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Non-utility Revenues [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value, assets measured on recurring basis, change in unrealized gain (loss)				$ (2)
Purchased Power Costs [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value, assets measured on recurring basis, change in unrealized gain (loss)	(2)	(5)	8	(3)
Competitive Energy Businesses [Member] \| Non-utility Revenues [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Gain (loss) on Level 3 energy derivative liabilities				(2)
Competitive Energy Businesses [Member] \| Purchased Power Costs [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Gain (loss) on Level 3 energy derivative liabilities	$ (5)	$ (4)	$ 35

Variable Interest Entities - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	9 Months Ended	1 Months Ended		1 Months Ended			1 Months Ended
	Sep. 30, 2014	Mar. 31, 2014 CMS 3 [Member]	Sep. 30, 2014 CMS 3 [Member]	Mar. 31, 2014 CMS 3 [Member] Nevada [Member] MW	May 31, 2014 CCH [Member] MW	Sep. 30, 2014 CCH [Member]	Aug. 31, 2014 OCI Solar San Antonio [Member] MW	Sep. 30, 2014 OCI Solar San Antonio [Member]	Sep. 30, 2014 OCI Solar San Antonio [Member] Noncontrolling Interest [Member]
Variable Interest Entity [Line Items]
Percentage of membership interest		50.00%					80.00%
Solar energy project, capacity				250	110		40
Investments (including earnings)			$ 155			$ 82
Percentage of variable interests sold					50.00%
Remaining percentage of variable interests					50.00%
Net proceeds on sale	108				108
Gain on sale, pretax	45				45
Gain on sale, net of tax					26
Purchase of membership interest, amount							49
Net assets								58
Non controlling interest of third party								$ 78	$ 9

Variable Interest Entities - Schedule of Sale and Deconsolidation of a Variable Interest Entity (Detail) (USD $) In Millions, unless otherwise specified	9 Months Ended		1 Months Ended
	Sep. 30, 2014	Dec. 31, 2013	May 31, 2014 CCH [Member]
Variable Interest Entity [Line Items]
Proceeds from sale, net of transaction costs of $1	$ 108		$ 108
Non-utility property, less accumulated depreciation	(349)	(605)	(341)
Other assets, including working capital			(31)
Long-term debt, including current portion	11,195	10,974	217
Other liabilities			9
Gain on sale of solar energy projects	(45)		(45)
Equity method investment upon deconsolidation			$ (83)

- Definition

+ References+ Details

Variable Interest Entities - Schedule of Assets and Liabilities Included in Consolidated Balance Sheet (Detail) (OCI Solar San Antonio [Member], USD $) In Millions, unless otherwise specified	Sep. 30, 2014
Variable Interest Entity [Line Items]
Assets	$ 136
Liabilities	78
Restricted Cash [Member]
Variable Interest Entity [Line Items]
Assets	13
Non-utility Property, less Accumulated Depreciation [Member]
Variable Interest Entity [Line Items]
Assets	111
Other Assets [Member]
Variable Interest Entity [Line Items]
Assets	12
Long-term Debt Due within One Year [Member]
Variable Interest Entity [Line Items]
Liabilities	66
Other Liabilities [Member]
Variable Interest Entity [Line Items]
Liabilities	$ 12

Other Postretirement Benefits - Additional Information (Detail) (Other Postretirement Benefits [Member], CECONY [Member], USD $) In Millions, unless otherwise specified	9 Months Ended
	Sep. 30, 2014
Other Postretirement Benefits [Member] \| CECONY [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected contributions	$ 7

Derivative Instruments and Hedging Activities - Fair Values of Commodity Derivatives Including Offsetting of Assets and Liabilities (Parenthetical) (Detail) (USD $) In Millions, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Derivatives, Fair Value [Line Items]
Margin deposits	$ 8	$ 17
CECONY [Member]
Derivatives, Fair Value [Line Items]
Margin deposits	$ 8	$ 16

Variable Interest Entities - Schedule of Sale and Deconsolidation of a Variable Interest Entity (Parenthetical) (Detail) (CCH [Member], USD $) In Millions, unless otherwise specified	1 Months Ended
	May 31, 2014
CCH [Member]
Variable Interest Entity [Line Items]
Transaction costs	$ 1