0001047862-22-000248 | 10-Q | XBRL Viewer

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Capitalization

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

Capitalization

In June 2022, Con Edison redeemed at maturity $293 million of 8.71 percent senior unsecured notes.

In November 2022, O&R issued $100 million aggregate principal amount of 5.70 percent debentures, due 2032.

The carrying amounts and fair values of long-term debt at September 30, 2022 and December 31, 2021 were:


(Millions of Dollars)	2022		2021
Long-Term Debt (including current portion) (a)	Carrying Amount	Fair Value	Carrying Amount	Fair Value
Con Edison	$22,673	$19,311	$23,044	$26,287
CECONY	$18,389	$15,465	$18,382	$21,382

(a)Amounts shown are net of unamortized debt expense and unamortized debt discount of $216 million and $186 million for Con Edison and CECONY, respectively, as of September 30, 2022 and $226 million and $193 million for Con Edison and CECONY, respectively, as of December 31, 2021.

The fair values of the Companies' long-term debt have been estimated primarily using available market information and at September 30, 2022 are classified as Level 2 liabilities (see Note O).

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (UNAUDITED) - CECONY - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
NET INCOME	$ 613	$ 538	$ 1,470	$ 1,122
Subsidiaries
NET INCOME	493	418	1,138	1,011
Pension and other postretirement benefit plan liability adjustments, net of taxes	0	0	1	0
TOTAL OTHER COMPREHENSIVE INCOME, NET OF TAXES	0	0	1	0
COMPREHENSIVE INCOME	$ 493	$ 418	$ 1,139	$ 1,011

- Definition

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

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+ Details

Pension Benefits

9 Months Ended

Sep. 30, 2022

Retirement Benefits [Abstract]

Pension Benefits

Total Periodic Benefit Cost

The components of the Companies’ total periodic benefit cost for the three and nine months ended September 30, 2022 and 2021 were as follows:


	For the Three Months Ended September 30,
	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Service cost – including administrative expenses	$72	$85	$67	$80
Interest cost on projected benefit obligation	126	118	119	111
Expected return on plan assets	(292)	(274)	(277)	(260)
Recognition of net actuarial loss	94	197	89	187
Recognition of prior service credit	(4)	(4)	(5)	(5)
TOTAL PERIODIC BENEFIT COST/(CREDIT)	$(4)	$122	$(7)	$113
Cost capitalized	(32)	(41)	(30)	(39)
Reconciliation to rate level	63	(54)	59	(52)
Total expense recognized	$27	$27	$22	$22


	For the Nine Months Ended September 30,
	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Service cost – including administrative expenses	$215	$257	$202	$241
Interest cost on projected benefit obligation	379	353	357	332
Expected return on plan assets	(876)	(822)	(832)	(779)
Recognition of net actuarial loss	283	590	268	559
Recognition of prior service credit	(12)	(12)	(15)	(15)
TOTAL PERIODIC BENEFIT COST/(CREDIT)	($11)	$366	($20)	$338
Cost capitalized	(100)	(120)	(95)	(113)
Reconciliation to rate level	192	(165)	182	(158)
Total expense recognized	$81	$81	$67	$67

Components of net periodic benefit cost other than service cost are presented outside of operating income on the Companies' consolidated income statements, and only the service cost component is eligible for capitalization. Accordingly, the service cost component is included in the line "Other operations and maintenance" and the non-service cost components are included in the lines "Investment and other income" and "Other deductions" in the Companies' consolidated income statements. The increase in the "Pension and retiree benefits" asset on the Companies' consolidated balance sheets from December 31, 2021 to September 30, 2022 is primarily due to favorable plan liability experience.

Expected Contributions

Based on estimates as of September 30, 2022, the Companies expect to make contributions to the pension plans during 2022 of $31 million (of which $18 million is to be made by CECONY). The Companies’ policy is to fund the total periodic benefit cost of the qualified plan to the extent tax deductible and to also contribute to the non-qualified supplemental plans. During the first nine months of 2022, the Companies contributed $25 million to the pension plans, $13 million of which was contributed by CECONY. CECONY also contributed $17 million to the external

trust for its non-qualified supplemental plan.

- Definition

The entire disclosure for retirement benefits.

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+ Details

Material Contingencies - Guarantees (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Guarantor Obligations [Line Items]
Total guarantees, by type and term	$ 2,232	$ 2,157
Con Edison Transmission
Guarantor Obligations [Line Items]
Total guarantees, by type and term	442
Energy transactions
Guarantor Obligations [Line Items]
Total guarantees, by type and term	807
Renewable electric projects
Guarantor Obligations [Line Items]
Total guarantees, by type and term	761
Other
Guarantor Obligations [Line Items]
Total guarantees, by type and term	222
0 – 3 years
Guarantor Obligations [Line Items]
Total guarantees, by type and term	1,489
0 – 3 years \| Con Edison Transmission
Guarantor Obligations [Line Items]
Total guarantees, by type and term	442
0 – 3 years \| Energy transactions
Guarantor Obligations [Line Items]
Total guarantees, by type and term	493
0 – 3 years \| Renewable electric projects
Guarantor Obligations [Line Items]
Total guarantees, by type and term	332
0 – 3 years \| Other
Guarantor Obligations [Line Items]
Total guarantees, by type and term	222
4 – 10 years
Guarantor Obligations [Line Items]
Total guarantees, by type and term	91
4 – 10 years \| Energy transactions
Guarantor Obligations [Line Items]
Total guarantees, by type and term	22
4 – 10 years \| Renewable electric projects
Guarantor Obligations [Line Items]
Total guarantees, by type and term	69
4 – 10 years \| Other
Guarantor Obligations [Line Items]
Total guarantees, by type and term	0
Greater than 10 years
Guarantor Obligations [Line Items]
Total guarantees, by type and term	652
Greater than 10 years \| Con Edison Transmission
Guarantor Obligations [Line Items]
Total guarantees, by type and term	0
Greater than 10 years \| Energy transactions
Guarantor Obligations [Line Items]
Total guarantees, by type and term	292
Greater than 10 years \| Renewable electric projects
Guarantor Obligations [Line Items]
Total guarantees, by type and term	360
Greater than 10 years \| Other
Guarantor Obligations [Line Items]
Total guarantees, by type and term	$ 0

General (Details)	9 Months Ended
General (Details)	Sep. 30, 2022 registrant subsidiary
Accounting Policies [Abstract]
Number of registrants \| registrant	2
Number of regulated utility subsidiaries \| subsidiary	2

Financial Information by Business Segment

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Financial Information by Business Segment

Con Edison’s principal business segments are CECONY’s regulated utility activities, O&R’s regulated utility activities, the Clean Energy Businesses and Con Edison Transmission. CECONY’s principal business segments are its regulated electric, gas and steam utility activities. The financial data for the business segments for the three and nine months ended September 30, 2022 and 2021 were as follows:


	For the Three Months Ended September 30,
	Operating revenues		Inter-segment revenues		Depreciation and amortization		Operating income/(loss)
(Millions of Dollars)	2022	2021	2022	2021	2022	2021	2022	2021
CECONY
Electric	$3,077	$2,730	$5	$5	$324	$324	$843	$834
Gas	414	307	2	2	93	82	(40)	(48)
Steam	58	55	19	18	24	23	(65)	(58)
Consolidation adjustments	—	—	(26)	(25)	—	—	—	—
Total CECONY	$3,549	$3,092	$—	$—	$441	$429	$738	$728
O&R
Electric	$252	$223	$—	$—	$18	$18	$61	$55
Gas	39	34	—	—	7	6	(10)	(8)
Total O&R	$291	$257	$—	$—	$25	$24	$51	$47
Clean Energy Businesses	$325	$264	$—	$—	$60	$58	$104	$79
Con Edison Transmission	1	1	—	—	—	—	(2)	(2)
Other (a)	(1)	(1)	—	—	(1)	1	(2)	(2)
Total Con Edison	$4,165	$3,613	$—	$—	$525	$512	$889	$850

(a) Parent company 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/(loss)
(Millions of Dollars)	2022	2021	2022	2021	2022	2021	2022	2021
CECONY
Electric	$7,401	$6,661	$14	$14	$994	$959	$1,233	$1,337
Gas	2,127	1,730	6	6	275	239	511	490
Steam	444	393	57	55	72	69	(15)	9
Consolidation adjustments	—	—	(77)	(75)	—	—	—	—
Total CECONY	$9,972	$8,784	$—	$—	$1,341	$1,267	$1,729	$1,836
O&R
Electric	$594	$522	$—	$—	$53	$52	$85	$78
Gas	219	177	—	—	20	19	25	30
Total O&R	$813	$699	$—	$—	$73	$71	$110	$108
Clean Energy Businesses	$857	$779	$—	$—	$178	$172	$248	$196
Con Edison Transmission	3	3	—	—	1	1	(8)	(7)
Other (a)	(6)	(4)	—	—	—	—	(5)	(4)
Total Con Edison	$11,639	$10,261	$—	$—	$1,593	$1,511	$2,074	$2,129

(a) Parent company 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

Environmental Matters - Accrued Liability (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Site Contingency [Line Items]
Regulatory assets	$ 3,987	$ 3,845
Asbestos Suits
Site Contingency [Line Items]
Accrued liability	8	8
Regulatory assets	8	8
Workers’ Compensation
Site Contingency [Line Items]
Accrued liability	62	65
Regulatory assets	11	8
CECONY \| Subsidiaries
Site Contingency [Line Items]
Regulatory assets	3,667	3,504
CECONY \| Asbestos Suits \| Subsidiaries
Site Contingency [Line Items]
Accrued liability	7	7
Regulatory assets	7	7
CECONY \| Workers’ Compensation \| Subsidiaries
Site Contingency [Line Items]
Accrued liability	59	62
Regulatory assets	$ 11	$ 8

New Financial Accounting Standards	9 Months Ended
New Financial Accounting Standards	Sep. 30, 2022
Accounting Changes and Error Corrections [Abstract]
New Financial Accounting Standards	New Financial Accounting Standards In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (ASU 2020-04). In 2017, the United Kingdom’s Financial Conduct Authority announced that it intends to stop persuading or compelling banks to submit the London Interbank Offered Rate (LIBOR), a benchmark interest rate referenced in a variety of agreements, after 2021. The United Kingdom's Financial Conduct Authority ceased publication of U.S. Dollar LIBOR after December 31, 2021 for one-week and two-month U.S. Dollar LIBOR tenors, and expects to cease publishing after June 30, 2023 for all other U.S. Dollar LIBOR tenors. ASU 2020-04 provides entities with optional expedients and exceptions for applying generally accepted accounting principles to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another reference rate expected to be discontinued. In January 2021, the FASB issued amendments to the guidance through ASU 2021-01 to include all contract modifications and hedging relationships affected by reference rate reform, including those that do not directly reference LIBOR or another reference rate expected to be discontinued, and clarify which optional expedients may be applied to them. As the Companies continue to modify contracts that contain references to LIBOR to allow for the use of an alternative rate, they have applied the practical expedient to not assess each change for a contract modification. The guidance can be applied prospectively. The optional relief is temporary and generally cannot be applied to contract modifications and hedging relationships entered into or evaluated after December 31, 2022. The Companies do not expect the new guidance to have a material impact on their financial position, results of operations or liquidity. In December 2021, the FASB issued amendments to the guidance on accounting for government assistance through ASU 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance. The amendments require that business entities disclose 1) the types of assistance, 2) an entity’s accounting for the assistance, and 3) the effect of the assistance on an entity’s financial statements. For public entities, the amendments are effective for reporting periods beginning after December 15, 2021. Early adoption is permitted. The Companies have concluded the new guidance will not have a material impact on the Companies’ financial position, results of operations and liquidity.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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+ Details

Capitalization - Carrying Amounts and Fair Values of Long-Term Debt (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Unamortized debt expense	$ 216	$ 226
Carrying Amount
Debt Instrument [Line Items]
Long-Term Debt (including current portion)	22,673	23,044
Fair Value
Debt Instrument [Line Items]
Long-Term Debt (including current portion)	19,311	26,287
CECONY \| Subsidiaries
Debt Instrument [Line Items]
Unamortized debt discount	186	193
CECONY \| Carrying Amount \| Subsidiaries
Debt Instrument [Line Items]
Long-Term Debt (including current portion)	18,389	18,382
CECONY \| Fair Value \| Subsidiaries
Debt Instrument [Line Items]
Long-Term Debt (including current portion)	$ 15,465	$ 21,382

Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2022	Oct. 31, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	1-14514
Entity Registrant Name	Consolidated Edison, Inc.
Entity Incorporation, State or Country Code	NY
Entity Tax Identification Number	13-3965100
Entity Address, Address Line One	4 Irving Place,
Entity Address, City or Town	New York,
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10003
City Area Code	(212)
Local Phone Number	460-4600
Title of 12(b) Security	Common Shares ($.10 par value)
Trading Symbol	ED
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		354,862,848
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001047862
Current Fiscal Year End Date	--12-31
CECONY
Document Information [Line Items]
Entity File Number	1-01217
Entity Registrant Name	Consolidated Edison Company of New York, Inc.
Entity Incorporation, State or Country Code	NY
Entity Tax Identification Number	13-5009340
Entity Address, Address Line One	4 Irving Place,
Entity Address, City or Town	New York,
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10003
City Area Code	(212)
Local Phone Number	460-4600
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000023632
Current Fiscal Year End Date	--12-31

Revenue Recognition - Additional information (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended	9 Months Ended	12 Months Ended			13 Months Ended
	Apr. 30, 2022	Sep. 30, 2021	Sep. 30, 2021	Dec. 31, 2023	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2022	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Remaining performance obligation								$ 303.0
Late fee and other fees not collected		$ 12.0	$ 49.0
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01
Disaggregation of Revenue [Line Items]
Remaining performance obligation								$ 265.0
Expected timing of satisfaction								2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-02
Disaggregation of Revenue [Line Items]
Remaining performance obligation								$ 38.0
Expected timing of satisfaction
CECONY \| Subsidiaries
Disaggregation of Revenue [Line Items]
Late fee and other fees not collected		$ 11.0	$ 46.0
CECONY \| COVID-19 \| Subsidiaries \| Scenario, Forecast \| Electric
Disaggregation of Revenue [Line Items]
Late payment charges and fees				$ 19.0			$ 43.0
CECONY \| COVID-19 \| Subsidiaries \| Scenario, Forecast \| Gas
Disaggregation of Revenue [Line Items]
Late payment charges and fees				$ 4.0			$ 7.0
O&R \| Subsidiaries \| Electric and Gas Transmission Projects
Disaggregation of Revenue [Line Items]
Rate plan, term	3 years
O&R \| COVID-19 \| Subsidiaries \| Electric
Disaggregation of Revenue [Line Items]
Late payment charges and fees						$ 1.7
O&R \| COVID-19 \| Subsidiaries \| Gas
Disaggregation of Revenue [Line Items]
Late payment charges and fees					$ 2.4

Other Postretirement Benefits - Additional Information (Details) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($)
Other Postretirement Benefits \| CECONY
Defined Benefit Plan Disclosure [Line Items]
Contributions	$ 9

- Definition

Amount of contribution received by defined benefit plan from employer which increases plan assets.

+ References + Details

Subsequent Events

9 Months Ended

Sep. 30, 2022

Subsequent Events [Abstract]

Subsequent Events

Held-for-Sale Treatment of the Clean Energy Businesses

On October 1, 2022, Con Edison entered into a purchase and sale agreement pursuant to which Con Edison agreed to sell the Clean Energy Businesses to RWE Renewables Americas, LLC, a subsidiary of RWE Aktiengesellschaft (RWE) for a total of $6,800 million, subject to closing adjustments. The purchase price will be adjusted (i) upward for certain cash and cash equivalents, (ii) downward for certain indebtedness and debt-like items, (iii) downward for certain transaction expenses, (iv) upward or downward to the extent that the net working capital varies from a set target, (v) upward or downward to the extent that capital expenditures incurred prior to the closing of the transaction vary from a set budget, and (vi) downward by the value allocated to certain assets and projects that are not able to be conveyed to RWE upon closing of the transaction. The purchase and sale agreement includes certain customary representations, warranties and covenants. The transaction is subject to customary closing conditions, including, among other things, expiration or early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and approvals by the Committee on Foreign Investment in the United States and the FERC. The transaction is expected to close in the first half of 2023, subject to satisfaction of the foregoing conditions, among other things.

Concurrent with entering into the purchase and sale agreement, Con Edison incurred costs in the normal course of the sale process. Substantially all of the expected transaction costs of approximately $50 million to $60 million ($35 million to $45 million after-tax) are expected to be incurred in 2022. Also, as described in Note A, depreciation and amortization expense of approximately $60 million ($39 million after-tax) will not be recorded on the assets of the Clean Energy Businesses in the fourth quarter of 2022. Further, since the Clean Energy Businesses were designated as held for sale as of October 1, 2022 and the transaction is expected to close in the first half of 2023, Con Edison is analyzing the potential impact of the anticipated sale on its state apportionment factors. Based on current estimates, Con Edison expects to record an increase to its net deferred income tax liabilities and corresponding deferred income tax expense of approximately $100 million to $140 million (net of federal income taxes) in the fourth quarter of 2022.

The Clean Energy Business represent a reportable segment. See Note M. At September 30, 2022, the carrying amounts of the major classes of assets and liabilities of the Clean Energy Businesses, which subsequent to September 30, 2022 met the accounting criteria to be designated as held for sale, are presented as if on a held for sale basis, and accordingly exclude certain intercompany and net deferred tax liability balances, as follows:


(Millions of Dollars)			September 30, 2022
ASSETS
CURRENT ASSETS
Cash and temporary cash investments			$18
Accounts receivable and other receivables - net allowance for uncollectible accounts			204

Accrued unbilled revenue			120
Fuel oil, gas in storage, materials and supplies, at average cost			40
Restricted cash			163
Fair value of derivatives assets			58
Other current assets			173
TOTAL CURRENT ASSETS			776

NON-UTILITY PLANT
Non-utility property, net accumulated depreciation			4,114
Construction work in progress			385
NET PLANT			4,499
OTHER NONCURRENT ASSETS
Goodwill			31
Intangible assets, less accumulated amortization			1,222
Operating lease right-of-use asset			266
Fair value of derivatives assets			104
Other deferred charges and noncurrent assets			22
TOTAL OTHER NONCURRENT ASSETS			1,645
TOTAL ASSETS			$6,920


(Millions of Dollars)			September 30, 2022
LIABILITIES
CURRENT LIABILITIES
Long-term debt due within one year			$323
Term loan			150

Accounts payable			217

Operating lease liabilities			32
Other current liabilities			143
TOTAL CURRENT LIABILITIES			865
NONCURRENT LIABILITIES
Asset retirement obligations			76

Operating lease liabilities			248
Other deferred credits and noncurrent liabilities			20
TOTAL NONCURRENT LIABILITIES			344
LONG-TERM DEBT			2,344
TOTAL LIABILITIES			$3,553

CONSOLIDATED STATEMENT OF EQUITY (UNAUDITED) - USD ($) shares in Millions, $ in Millions	Total	Subsidiaries	Common Stock	Common Stock Subsidiaries	Additional Paid-In Capital	Retained Earnings	Retained Earnings Subsidiaries	Treasury Stock	Capital Stock Expense	Accumulated Other Comprehensive Income/(Loss)	Accumulated Other Comprehensive Income/(Loss) Subsidiaries	Non- controlling Interest
Beginning balance (shares) at Dec. 31, 2020			342	235
Beginning balance at Dec. 31, 2020	$ 19,065		$ 36		$ 8,808	$ 11,178		$ (1,038)	$ (112)	$ (25)		$ 218
Beginning balance (shares) at Dec. 31, 2020								23
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	420					419						1
Common stock dividends	(265)	$ (247)				(265)	$ (247)
Issuance of common shares for stock plans	28				28
Other comprehensive income	4									4
Distributions to noncontrolling interest	(3)											(3)
Net proceeds from sale of equity interest	33											33
Ending balance (shares) at Mar. 31, 2021			342	235
Ending balance at Mar. 31, 2021	$ 19,282		$ 36		8,836	11,332		$ (1,038)	(112)	(21)		249
Ending balance (shares) at Mar. 31, 2021								23
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock dividends per share (dollars per share)	$ 0.775
Beginning balance (shares) at Dec. 31, 2020			342	235
Beginning balance at Dec. 31, 2020	$ 19,065		$ 36		8,808	11,178		$ (1,038)	(112)	(25)		218
Beginning balance (shares) at Dec. 31, 2020								23
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,007
Other comprehensive income	8
Ending balance (shares) at Sep. 30, 2021			354	235
Ending balance at Sep. 30, 2021	20,377		$ 37		9,683	11,495		$ (1,038)	(123)	(17)		340
Ending balance (shares) at Sep. 30, 2021								23
Beginning balance (shares) at Mar. 31, 2021			342	235
Beginning balance at Mar. 31, 2021	19,282		$ 36		8,836	11,332		$ (1,038)	(112)	(21)		249
Beginning balance (shares) at Mar. 31, 2021								23
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	118					165						(47)
Common stock dividends	(266)	(247)				(266)	(247)
Issuance of common shares – public offering (shares)			11
Issuance of common shares - public offering	775		$ 1		785				(11)
Issuance of common shares for stock plans	34				34
Other comprehensive income	2									2
Distributions to noncontrolling interest	(4)											(4)
Net proceeds from sale of equity interest	112											112
Ending balance (shares) at Jun. 30, 2021			353	235
Ending balance at Jun. 30, 2021	$ 20,053		$ 37		9,655	11,231		$ (1,038)	(123)	(19)		310
Ending balance (shares) at Jun. 30, 2021								23
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock dividends per share (dollars per share)	$ 0.775
Net income	$ 469					538						(69)
Common stock dividends	(274)	(247)				(274)	(247)
Issuance of common shares – public offering (shares)			1
Issuance of common shares - public offering	0
Issuance of common shares for stock plans	28				28
Other comprehensive income	2									2
Distributions to noncontrolling interest	(8)											(8)
Net proceeds from sale of equity interest	107											107
Ending balance (shares) at Sep. 30, 2021			354	235
Ending balance at Sep. 30, 2021	$ 20,377		$ 37		9,683	11,495		$ (1,038)	(123)	(17)		340
Ending balance (shares) at Sep. 30, 2021								23
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock dividends per share (dollars per share)	$ 0.775
Beginning balance (shares) at Dec. 31, 2021			354	235
Beginning balance at Dec. 31, 2021	$ 20,336		$ 37		9,710	11,445		$ (1,038)	(122)	5		299
Beginning balance (shares) at Dec. 31, 2021								23
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	554					602						(48)
Common stock dividends	(280)	(245)				(280)	(245)
Issuance of common shares - public offering	1								1
Issuance of common shares for stock plans	18				18
Other comprehensive income		1									$ 1
Distributions to noncontrolling interest	(6)											(6)
Ending balance (shares) at Mar. 31, 2022			354	235
Ending balance at Mar. 31, 2022	$ 20,623		$ 37		9,728	11,767		$ (1,038)	(121)	5		245
Ending balance (shares) at Mar. 31, 2022								23
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock dividends per share (dollars per share)	$ 0.79
Beginning balance (shares) at Dec. 31, 2021			354	235
Beginning balance at Dec. 31, 2021	$ 20,336		$ 37		9,710	11,445		$ (1,038)	(122)	5		299
Beginning balance (shares) at Dec. 31, 2021								23
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,427
Other comprehensive income	6
Ending balance (shares) at Sep. 30, 2022			355	235
Ending balance at Sep. 30, 2022	20,976		$ 37		9,784	12,075		$ (1,038)	(121)	11		228
Ending balance (shares) at Sep. 30, 2022								23
Beginning balance (shares) at Mar. 31, 2022			354	235
Beginning balance at Mar. 31, 2022	20,623		$ 37		9,728	11,767		$ (1,038)	(121)	5		245
Beginning balance (shares) at Mar. 31, 2022								23
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	254					255						(1)
Common stock dividends	(280)	(245)				(280)	(245)
Issuance of common shares for stock plans	29				29
Other comprehensive income	5									5
Distributions to noncontrolling interest	(10)											(10)
Ending balance (shares) at Jun. 30, 2022			354	235
Ending balance at Jun. 30, 2022	$ 20,621		$ 37		9,757	11,742		$ (1,038)	(121)	10		234
Ending balance (shares) at Jun. 30, 2022								23
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock dividends per share (dollars per share)	$ 0.79
Net income	$ 619					613						6
Common stock dividends	(280)	$ (244)				(280)	$ (244)
Issuance of common shares – public offering (shares)			1
Issuance of common shares - public offering	0
Issuance of common shares for stock plans	27				27
Other comprehensive income	1									1
Distributions to noncontrolling interest	(12)											(12)
Ending balance (shares) at Sep. 30, 2022			355	235
Ending balance at Sep. 30, 2022	$ 20,976		$ 37		$ 9,784	$ 12,075		$ (1,038)	$ (121)	$ 11		$ 228
Ending balance (shares) at Sep. 30, 2022								23
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock dividends per share (dollars per share)	$ 0.79

Regulatory Matters - Other Regulatory Matters (Details) customer in Thousands, $ in Millions		1 Months Ended			9 Months Ended		12 Months Ended		36 Months Ended
	Jan. 01, 2022 USD ($)	Jul. 31, 2021 USD ($)	Aug. 31, 2020 customer	Jul. 31, 2019 customer	Sep. 30, 2022 USD ($)	Sep. 30, 2021	Dec. 31, 2021 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2022 USD ($)
Public Utilities, General Disclosures [Line Items]
Other Customer-Provided Capital rate					1.75%	1.80%
Return on regulatory assets					$ 2,221.0		$ 1,962.0
Deferred derivative losses recovery period, current					1 year
Recovery period for deferred derivative losses					3 years
CECONY
Public Utilities, General Disclosures [Line Items]
Net regulatory assets					$ 1,147.0		1,176.0
CECONY \| Commodity
Public Utilities, General Disclosures [Line Items]
Recovery period					4 years
CECONY \| Subsidiaries
Public Utilities, General Disclosures [Line Items]
Return on regulatory assets					$ 2,024.0		1,751.0
CECONY \| NYSPSC \| Steam \| Subsidiaries
Public Utilities, General Disclosures [Line Items]
Impact in regulatory liability resulting from TCJA								$ 185.0
CECONY \| Electric \| West Side of Manhattan \| Subsidiaries
Public Utilities, General Disclosures [Line Items]
Number of customers affected with interrupted service \| customer			190	72
CECONY \| Electric \| Brooklyn \| Subsidiaries
Public Utilities, General Disclosures [Line Items]
Number of customers affected with interrupted service \| customer				30
CECONY \| Electric \| Tropical Storm \| Subsidiaries
Public Utilities, General Disclosures [Line Items]
Number of customers affected with interrupted service \| customer			330
Settlement agreement, amount		$ 75.1
Litigation settlement, period					35 years
CECONY \| Electric \| Tropical Storm \| Foregone Customer Recovery \| Subsidiaries
Public Utilities, General Disclosures [Line Items]
Settlement agreement, amount		25.0
CECONY \| Electric \| Tropical Storm \| Ongoing Operations And Maintenance Costs \| Subsidiaries
Public Utilities, General Disclosures [Line Items]
Settlement agreement, amount		15.8
CECONY \| Electric \| Tropical Storm \| Previously Incurred Or Accrued Costs \| Subsidiaries
Public Utilities, General Disclosures [Line Items]
Settlement agreement, amount		34.3
CECONY \| Electric \| Tropical Storm \| Costs To Reimburse Customers For Food And Medicine Spoilage \| Subsidiaries
Public Utilities, General Disclosures [Line Items]
Settlement agreement, amount		14.3
CECONY \| Electric \| Rainey Outages \| Negative Revenue Adjustment \| Subsidiaries
Public Utilities, General Disclosures [Line Items]
Settlement agreement, amount		5.0
CECONY \| Electric \| 2019 Manhattan and Brooklyn Outages \| Negative Revenue Adjustment \| Subsidiaries
Public Utilities, General Disclosures [Line Items]
Settlement agreement, amount		15.0
CECONY \| Electric \| Scenario, Forecast \| Subsidiaries
Public Utilities, General Disclosures [Line Items]
Income tax benefit to be credited to customers resulting from TCJA									$ 377.0
TCJA, net benefit amortization, allocation period									3 years
CECONY \| Electric \| Scenario, Forecast \| Protected Portion \| Subsidiaries
Public Utilities, General Disclosures [Line Items]
Impact in regulatory liability resulting from TCJA									$ 1,663.0
CECONY \| Electric \| Scenario, Forecast \| Unprotected Portion \| Subsidiaries
Public Utilities, General Disclosures [Line Items]
TCJA, net benefit amortization, allocation period									5 years
Impact in regulatory liability resulting from TCJA									$ 784.0
CECONY \| Gas \| Scenario, Forecast \| Subsidiaries
Public Utilities, General Disclosures [Line Items]
Income tax benefit to be credited to customers resulting from TCJA									$ 63.0
TCJA, net benefit amortization, allocation period									2 years
CECONY \| Gas \| Scenario, Forecast \| Protected Portion \| Subsidiaries
Public Utilities, General Disclosures [Line Items]
Impact in regulatory liability resulting from TCJA									$ 725.0
CECONY \| Gas \| Scenario, Forecast \| Unprotected Portion \| Subsidiaries
Public Utilities, General Disclosures [Line Items]
TCJA, net benefit amortization, allocation period									5 years
Impact in regulatory liability resulting from TCJA									$ 107.0
O&R
Public Utilities, General Disclosures [Line Items]
Net regulatory assets					$ 23.0		26.0
O&R \| Electric \| Tropical Storm \| Subsidiaries
Public Utilities, General Disclosures [Line Items]
Number of customers affected with interrupted service \| customer			200
Settlement agreement, amount		7.0
O&R \| Electric \| Tropical Storm \| Foregone Customer Recovery \| Subsidiaries
Public Utilities, General Disclosures [Line Items]
Settlement agreement, amount		2.5
O&R \| Electric \| Tropical Storm \| Ongoing Operations And Maintenance Costs \| Subsidiaries
Public Utilities, General Disclosures [Line Items]
Settlement agreement, amount		2.9
O&R \| Electric \| Tropical Storm \| Previously Incurred Or Accrued Costs \| Subsidiaries
Public Utilities, General Disclosures [Line Items]
Settlement agreement, amount		$ 1.6
O&R \| Electric and Gas Transmission Projects \| Unprotected Portion \| Subsidiaries
Public Utilities, General Disclosures [Line Items]
TCJA, net benefit amortization, allocation period	6 years
Impact in regulatory liability resulting from TCJA	$ 34.0
O&R \| Electric and Gas Transmission Projects \| Scenario, Forecast \| Subsidiaries
Public Utilities, General Disclosures [Line Items]
Income tax benefit to be credited to customers resulting from TCJA									$ 22.0
TCJA, net benefit amortization, allocation period									3 years
O&R \| Electric and Gas Transmission Projects \| Scenario, Forecast \| Protected Portion \| Subsidiaries
Public Utilities, General Disclosures [Line Items]
Impact in regulatory liability resulting from TCJA									$ 123.0
RECO \| Subsidiaries
Public Utilities, General Disclosures [Line Items]
Return on regulatory assets					$ 21.0		$ 25.0

Regulatory Matters

9 Months Ended

Sep. 30, 2022

Regulated Operations [Abstract]

Regulatory Matters

Rate Plans

CECONY – Electric

In April 2022, CECONY updated its January 2022 request to the New York State Public Service Commission (NYSPSC) for an electric rate increase effective January 2023. The company decreased its requested January 2023 rate increase by $161 million to $1,038 million, decreased its illustrated January 2024 rate increase by $109 million to $744 million and increased its illustrated January 2025 rate increase by $7 million to $615 million. In May 2022, the New York State Department of Public Service (NYSDPS) submitted testimony in the NYSPSC proceeding in which CECONY requested an electric rate increase, effective January 2023. The NYSDPS testimony supports an electric rate increase of $278 million reflecting, among other things, an 8.80 percent return on common equity and a common equity ratio of 48 percent.

CECONY – Gas

In April 2022, CECONY updated its January 2022 request to the NYSPSC for a gas rate increase effective January 2023. The company decreased its requested January 2023 rate increase by $101 million to $402 million, decreased its illustrated January 2024 rate increase by $29 million to $205 million and decreased its illustrated January 2025 rate increase by $42 million to $176 million. In May 2022, the NYSDPS submitted testimony in the NYSPSC proceeding in which CECONY requested a gas rate increase, effective January 2023. The NYSDPS testimony supports a gas rate increase of $164 million reflecting, among other things, an 8.80 percent return on common equity and a common equity ratio of 48 percent.

CECONY – Electric and Gas

Pursuant to its electric and gas rate plans, CECONY recorded $92 million of earnings for the year ended December 31, 2021 of earnings adjustment mechanisms and positive incentives, primarily reflecting the achievement of certain energy efficiency measures. For the nine months ended September 30, 2022, CECONY recorded a reduction in the amount of previously recorded earnings adjustment mechanisms of $4.9 million.

O&R NY – Electric and Gas

In April 2022, the NYSPSC approved the October 2021 joint proposal for new electric and gas rates. The joint proposal provides for electric rate increases of $4.9 million, $16.2 million and $23.1 million, effective January 1, 2022, 2023 and 2024, or $11.7 million on a levelized annual billed basis, respectively. The joint proposal provides for gas rate increases of $0.7 million, $7.4 million and $9.9 million, effective January 1, 2022, 2023 and 2024, or $4.4 million on a levelized annual billed basis, respectively. The joint proposal also includes certain COVID-19 provisions, such as: recovery of 2020 late payment charges over three years ($2.8 million); reconciliation of late payment charges to amounts reflected in rates for years 2021 through 2024, with full recovery/refund via surcharge/sur-credit once the annual variance equals or exceeds 5 basis points of return on equity; and reconciliation of write-offs of customer accounts receivable balances to amounts reflected in rates from January 1, 2020 through December 31, 2024, with full recovery/refund via surcharge/sur-credit once the annual variance equals or exceeds 5 basis points of return on equity.

Rockland Electric Company (RECO)

Effective July 2021, the New Jersey Board of Public Utilities (NJBPU) authorized a conservation incentive program for RECO, that covers all residential and most commercial customers, under which RECO’s actual electric

distribution revenues are compared with the authorized distribution revenues and the difference accrued, with interest, for refund to, or recovery from, customers, as applicable. The conservation incentive program is not permitted if RECO’s actual return on equity exceeds the approved base rate filing return on equity by 50 basis points or more.

In January 2022, RECO filed a request with FERC for an increase to its annual transmission revenue requirement from $16.9 million to $20.4 million. The revenue requirement reflects a return on common equity of 11.04 percent and a common equity ratio of 47 percent.

In March 2022, RECO filed a request with the NJBPU to implement a $209 million Infrastructure Investment Program (IIP) over a five-year period (2023 – 2027). RECO’s IIP proposes accelerated infrastructure investments to enhance safety, reliability, and/or resiliency.

COVID-19 Regulatory Matters

Governors, public utility commissions and other regulatory agencies in the states in which the Utilities operate have issued orders related to the COVID-19 pandemic that impact the Utilities as described below.

NY Regulation

In March 2020, a former New York State governor declared a State Disaster Emergency for the State of NY due to the COVID-19 pandemic and signed the "New York State on PAUSE" executive order that temporarily closed all non-essential businesses statewide. The former governor then lifted these closures over time and ended the emergency declaration in June 2021. As a result of the emergency declaration, and due to economic conditions, the NYSPSC and the Utilities have worked to mitigate the potential impact of the COVID-19 pandemic on the Utilities, their customers and other stakeholders.

In March 2020, the Utilities began suspending service disconnections, certain collection notices, final bill collection agency activity, new late payment charges and certain other fees for all customers. The Utilities also began providing payment extensions for all customers that were scheduled to be disconnected prior to the start of the COVID-19 pandemic. In June 2020, the state of NY enacted a law prohibiting NY utilities, including CECONY and O&R, from disconnecting residential customers, and starting in May 2021 small business customers, during the COVID-19 state of emergency, which ended in June 2021. In addition, such prohibitions were in effect until December 21, 2021 for residential and small business customers who experienced a change in financial circumstances due to the COVID-19 pandemic.

In November 2021, the NYSPSC issued an order establishing a surcharge recovery mechanism for CECONY to collect, commencing December 1, 2021 through December 31, 2022, $43 million and $7 million for electric and gas, respectively, of late payment charges and fees that were not billed for the year ended December 31, 2020. The company recorded such amounts as revenue for the year ended December 31, 2021, as permitted under the accounting rules for regulated utilities, and also accrued such amounts as a current asset at December 31, 2021. Pursuant to the November 2021 order, the company also established a recovery mechanism for CECONY to collect, commencing January 2023 through December 2023, $19 million and $4 million for electric and gas, respectively, of late payment charges and fees that were not billed for the year ended December 31, 2021 and the company recorded such amounts as revenue for the year ended December 31, 2021, as permitted under the accounting rules for regulated utilities, and also accrued such amounts as a current asset at December 31, 2021. In addition, pursuant to the November 2021 order, CECONY established a reserve of $7 million toward addressing customer arrearages for the year ended December 31, 2021 that, pursuant to a June 2022 NYSPSC order discussed below, was used to fund a portion of the COVID-19 arrears assistance program for low-income customers. The order also established a surcharge recovery or surcredit mechanism for any late payment charges and fee deferrals, subject to offsetting related savings resulting from the COVID-19 pandemic, for 2022 starting in January 2024 over a twelve-month period. CECONY resumed late payment charges for commercial and residential customers who have not experienced a change in financial circumstances due to the COVID-19 pandemic on September 3, 2021 and October 1, 2021, respectively. Pursuant to the October 2021 joint proposal for new electric and gas rates for O&R that was approved by the NYSPSC in April 2022. O&R recorded late payment charges and fees that were not billed for the years ended December 31, 2020 and December 31, 2021 of $1.7 million and $2.4 million, respectively, as revenue for the year ended December 31, 2021, as permitted under the accounting rules for regulated utilities, and also accrued such amounts as a current asset at December 31, 2021. See “Rate Plans,” above. O&R resumed late payment charges for commercial and residential customers who have not experienced a change in financial circumstances due to the COVID-19 pandemic on October 1, 2021.

The Utilities’ NY rate plans allow them to defer costs resulting from a change in legislation, regulation and related actions that have taken effect during the term of the rate plans once the costs exceed a specified threshold. The total reserve increases to the allowance for uncollectible accounts from January 1, 2020 through September 30, 2022 reflecting the impact of the COVID-19 pandemic for CECONY electric and gas operations and O&R electric and gas operations were $232 million and $3 million, respectively, and were deferred pursuant to the legislative, regulatory and related actions provisions of the rate plans as a result of the New York State on PAUSE and related executive orders, that have since been lifted, as described above. The Utilities’ NY rate plans also provide for an allowance for write-offs of customer accounts receivable balances. The above amounts deferred pursuant to the legislative, regulatory and related actions provisions were reduced by the amount that the actual write-offs of customer accounts receivable balances were below the allowance reflected in rates which differences were $19 million and $1 million for CECONY and O&R, respectively, from March 1, 2020 through September 30, 2022.

In June 2020, the NYSPSC directed CECONY to implement a summer cooling credit program to help mitigate the cost of staying home and operating air conditioning for health-vulnerable low-income customers due to the limited availability of public cooling facilities as a result of the COVID-19 social distancing measures. The $63.4 million cost of the program is being recovered over a five-year period that began January 2021.

In April 2021, NY passed a law that created a program that allows eligible residential renters in NY who require assistance with rent and utility bills to have up to twelve months of electric and gas utility bill arrears forgiven, provided that such arrears were accrued on or after March 13, 2020. The program is administered by the State Office of Temporary and Disability Assistance (OTDA) in coordination with the NYSDPS (the OTDA Program). Under the OTDA Program, CECONY and O&R qualify for a refundable tax credit for NY gross-receipts tax equal to the amount of arrears waived by the Utilities in the year that the arrears are waived and certified by the NYSPSC. OTDA may also use the program funds to provide additional Home Energy Assistance Program payments to the Utilities on behalf of low-income customers.

In April 2022, NY approved the 2022-2023 state budget, which included $250 million for addressing statewide residential utility customers' arrears balances accrued from March 7, 2020 through March 1, 2022. In June 2022, the NYSPSC issued an order implementing a COVID-19 arrears assistance program that provides credits towards reducing the arrears balances of low-income electric and gas customers of CECONY and O&R. At the time the order was issued, the Utilities’ eligible arrears balances were estimated to be $340 million, comprised of: (1) $164.5 million and $1.6 million of the funding allocated pursuant to the NY budget to CECONY and O&R, respectively, and (2) a surcharge mechanism for recovery of the remaining eligible credit amounts over a four- year period commencing after credits are issued for CECONY and over a one year period commencing after credits are issued for O&R. Pursuant to the order, CECONY and O&R agreed not to seek recovery of incremental financing costs incurred associated with low-income customers' arrears from March 2020 through March 2022 of $11 million, most of which is attributable to CECONY, in addition to the $7 million reserve established by CECONY for the year ended December 31, 2021, as described above. The amounts available to credit the arrears balances of low-income CECONY and O&R customers pursuant to the June 2022 order may be reduced by amounts credited pursuant to the OTDA Program.

For the three and nine months ended September 30, 2022, CECONY issued total credits of $265.8 million and $315.1 million, respectively and O&R issued total credits of $4.7 million and $5.5 million, respectively, towards reducing customers’ accounts receivable balances. For the three and nine months ended September 30, 2022, the total credits for CECONY were comprised of: $148.4 million pursuant to the NY funding; $89.6 million that will be recovered via a surcharge mechanism that began September 1, 2022, as described above; the $7 million reserve for CECONY described above; and $20.9 million and $70.1 million, respectively, in qualified tax credits and payments pursuant to the OTDA Program described above. For the three and nine months ended September 30, 2022, the total credits for O&R were comprised of: $1.6 million pursuant to the NY funding; $2.7 million that will be recovered via a surcharge mechanism that began September 1, 2022, as described above; and $0.4 million and $1.2 million, respectively, in qualified tax credits and payments pursuant to the OTDA Program described above. At September 30, 2022, the customer accounts receivable balances at CECONY and O&R were $2,279 million and $109 million, respectively.

In May 2021, CECONY and O&R, along with other large NY utilities, submitted joint comments to the NYSDPS' February 2021 report on New York State’s Energy Affordability Policy. The report recommends, among other things, that residential and commercial customers’ late payment fees and interest on deferred payment agreements be waived until two years after the expiration of the New York State moratorium on utility terminations (the moratorium expired on December 21, 2021) and each utility develop an arrears management program to mitigate the financial burdens of the COVID-19 pandemic on NY households and that program costs be shared, perhaps equally, between shareholders and customers. The May 2021 joint comments stated that it is not necessary for the NYSPSC to adopt the report’s COVID-19 related recommendations because New York State already passed laws

that address the issues in the report. In June 2022, the NYSPSC issued an order in this proceeding establishing a COVID-19 arrears assistance program for low-income customers, as described above.

The Utilities’ rate plans have revenue decoupling mechanisms in their NY electric and gas businesses that largely reconcile actual energy delivery revenues to the authorized delivery revenues approved by the NYSPSC per month and reconcile the deferred balances semi-annually under CECONY's electric rate plan (January through June and July through December, respectively) and annually under CECONY's gas rate plan and O&R's NY electric and gas rate plans (January through December). Differences are accrued with interest each month for CECONY's and O&R's NY electric customers and after the annual deferral period ends for CECONY's and O&R's NY gas customers for refund to, or recovery from customers, as applicable. Generally, the refund to or recovery from customers begins August and February of each year over an ensuing six-month period for CECONY's electric customers and February of each year over an ensuing twelve-month period for CECONY's gas and O&R's NY electric and gas customers.

NJ Regulation

In March 2020, NJ Governor Murphy declared a Public Health Emergency and State of Emergency for the State of NJ. In June 2021, the Governor ended the emergency declaration. As a result of the emergency declaration, and due to economic conditions, the NJBPU and RECO have worked to mitigate the potential impact of the COVID-19 pandemic on RECO, its customers and other stakeholders. In March 2020, RECO began suspending late payment charges, terminations for non-payment, and no access fees during the COVID-19 pandemic. The suspension of these fees continued through July 31, 2021 and were not material.

In July 2020, the NJBPU authorized RECO and other NJ utilities to create a COVID-19-related regulatory asset by deferring prudently incurred incremental costs related to the COVID-19 pandemic beginning on March 9, 2020, and has extended such deferrals through December 31, 2022. RECO is required to file its verified COVID-19 cost recovery petition by no later than March 2, 2023. RECO deferred net incremental COVID-19 related costs of $0.4 million through September 30, 2022.

Gas Safety

In April 2020, the NYSPSC issued an order that extended the deadlines to complete certain gas inspections by all New York gas utilities, including CECONY and O&R, from April 1, 2020 to August 1, 2020. The deadlines were subsequently extended to September 2, 2020 and June 1, 2022. CECONY and O&R have taken all reasonable measures to complete such inspections. As of June 1, 2022, O&R completed all of its required inspections and CECONY substantially completed its required inspections. CECONY is unable to estimate the amount or range of its possible loss, if any, related to this matter. At September 30, 2022, CECONY had not accrued a liability related to this matter.

Other Regulatory Matters

In August 2018, the NYSPSC ordered CECONY to begin on January 1, 2019 to credit the company's electric and gas customers, and to begin on October 1, 2018 to credit its steam customers, with the net benefits of the federal Tax Cuts and Jobs Act of 2017 (TCJA) as measured based on amounts reflected in its rate plans prior to the enactment of the TCJA in December 2017. The net benefits include the revenue requirement impact of the reduction in the corporate federal income tax rate to 21 percent, the elimination for utilities of bonus depreciation and the amortization of excess deferred federal income taxes.

CECONY, under its electric rate plan that was approved in January 2020, is amortizing its TCJA net benefits prior to January 1, 2019 allocable to its electric customers ($377 million) over a three-year period, the IRS “protected” portion of its net regulatory liability for future income taxes related to certain accelerated tax depreciation benefits allocable to its electric customers ($1,663 million) over the remaining lives of the related assets and the remainder, or “unprotected” portion of the net regulatory liability allocable to its electric customers ($784 million) over a five-year period. CECONY, under its gas rate plan that was approved in January 2020, amortized TCJA net benefits prior to January 1, 2019 allocable to its gas customers ($63 million) over a two-year period, The protected portion of its net regulatory liability for future income taxes allocable to its gas customers ($725 million) is being amortized over the remaining lives of the related assets and the unprotected portion of the net regulatory liability allocable to its gas customers ($107 million) over a five-year period.

CECONY’s net regulatory liability for future income taxes, including both the protected and unprotected portions, allocable to the company’s steam customers ($185 million) is being amortized over the remaining lives of the related assets (with the amortization period for the unprotected portion subject to review in its next steam rate proceeding).

O&R, under its current electric and gas rate plans, has reflected its TCJA net benefits in its electric and gas rates

beginning as of January 1, 2019. Under the rate plans, O&R amortized its net benefits prior to January 1, 2019 ($22 million) over a three-year period. The protected portion of its net regulatory liability for future income taxes ($123 million) is being amortized over the remaining lives of the related assets). Pursuant to the October 2021 Joint Proposal, O&R will amortize the remaining unprotected portion of its net regulatory liability for future income taxes ($34 million) over a six-year period that began January 1, 2022.

In January 2018, the NYSPSC issued an order initiating a focused operations audit of the Utilities’ financial accounting for income taxes. The audit is investigating the Utilities’ inadvertent understatement of a portion, the amount of which may be material, of their calculation of total federal income tax expense for ratemaking purposes. The understatement was related to the calculation of plant retirement-related cost of removal. As a result of such understatement, the Utilities accumulated significant income tax regulatory assets that were not reflected in O&R’s rate plans prior to 2014, CECONY’s electric and gas rate plans prior to 2015 and 2016, respectively, and is currently not reflected in CECONY’s steam rate plan. This understatement of historical income tax expense materially reduced the amount of revenue collected from the Utilities' customers in the past. As part of the audit, the Utilities plan to pursue a private letter ruling from the Internal Revenue Service (IRS) that is expected to confirm, among other things, that in order to comply with IRS normalization rules, such understatement may not be corrected through a write-down of a portion of the regulatory asset and must be corrected through an increase in future years’ revenue requirements. The regulatory asset ($1,147 million and $23 million for CECONY and O&R, respectively, as of September 30, 2022) and ($1,176 million and $26 million for CECONY and O&R, respectively, as of December 31, 2021) is netted against the future income tax regulatory liability on the Companies’ consolidated balance sheet. The Utilities are unable to estimate the amount or range of their possible loss, if any, related to this matter. At September 30, 2022, the Utilities had not accrued a liability related to this matter.

In October 2020, the NYSPSC issued an order instituting a proceeding to consider requiring NY’s large, investor-owned utilities, including CECONY and O&R, to annually disclose what risks climate change poses to their companies, investors and customers going forward. The order notes that some holding companies, including Con Edison, already disclose climate change risks at the holding company level, but states that the NYSPSC believes that climate-related risk disclosures should be issued specific to the operating companies in NY, such as CECONY and O&R, and that such climate-related risk disclosures should be included annually with the utilities’ financial reports. In December 2020, CECONY and O&R, along with other large NY utilities, filed comments supporting climate change risk disclosures in annual reports filed with the NYSPSC and recommended the use of an industry-specific template.

In April 2021, the Department of Energy (DOE) issued a request for information to assist the DOE in developing orders and/or regulations to secure the United States’ critical electric infrastructure. Separately, in September 2021, the Cybersecurity and Infrastructure Security Agency and the National Institute of Standards and Technology issued preliminary cybersecurity goals for critical infrastructure control systems, with final voluntary goals issued in October 2022. The Companies are unable to predict the impact on them of any orders or regulations that may be adopted regarding critical infrastructure.

In July 2021, the NYSPSC approved a settlement agreement among CECONY, O&R and the NYSDPS that fully resolves all issues and allegations that have been raised or could have been raised by the NYSPSC against CECONY and O&R with respect to: (1) the July 2018 rupture of a CECONY steam main located on Fifth Avenue and 21st Street in Manhattan (the “2018 Steam Incident”); (2) the July 2019 electric service interruptions to approximately 72,000 CECONY customers on the west side of Manhattan and to approximately 30,000 CECONY customers primarily in the Flatbush area of Brooklyn (the “2019 Manhattan and Brooklyn Outages”); (3) the August 2020 electric service interruptions to approximately 330,000 CECONY customers and approximately 200,000 O&R customers following Tropical Storm Isaias (the “Tropical Storm Isaias Outages”) and (4) the August 2020 electric service interruptions to approximately 190,000 customers resulting from faults at CECONY’s Rainey substation following Tropical Storm Isaias (the “Rainey Outages”). Pursuant to the settlement agreement, CECONY and O&R agreed to a total settlement amount of $75.1 million and $7.0 million, respectively. CECONY and O&R agreed to forgo recovery from customers of $25 million and $2.5 million, respectively, associated with the return on existing storm hardening assets beginning with the next rate plan for each utility (over a period of 35 years). CECONY and O&R also agreed to incur ongoing operations and maintenance costs of up to $15.8 million and $2.9 million, respectively, for, among other things, costs to maintain a certain level of contractor and vehicle storm emergency support and storm preparation audits. For CECONY, the settlement agreement included previously incurred or accrued costs of $34.3 million, including negative revenue adjustments of $5 million for the Rainey Outages and $15 million for the 2019 Manhattan and Brooklyn Outages and $14.3 million in costs to reimburse customers for food and medicine spoilage and other previously incurred expenses related to Tropical Storm Isaias and the 2018 Steam Incident. For O&R, the settlement agreement included previously incurred costs of $1.6 million to reimburse customers for food and medicine spoilage and other expenses related to the Tropical Storm Isaias Outages.

Regulatory Assets and Liabilities

Regulatory assets and liabilities at September 30, 2022 and December 31, 2021 were comprised of the following items:


	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Regulatory assets
Environmental remediation costs	$919	$938	$840	$860
System peak reduction and energy efficiency programs	546	285	546	284
Pension and other postretirement benefits deferrals	369	496	325	435
Revenue taxes	428	395	409	378
COVID-19 pandemic deferrals	275	282	272	277
Deferred storm costs	270	276	168	158
Property tax reconciliation	142	202	140	202
MTA power reliability deferral	104	140	104	140
Gas Service Line Deferred Costs	107	100	107	100
COVID-19 arrears relief program deferral	91	—	88	—
Municipal infrastructure support costs	33	44	33	44
Brooklyn Queens demand management program	33	36	33	36
Deferred derivative losses - long term	32	51	27	45
Meadowlands heater odorization project	27	29	27	29
Unrecognized pension and other postretirement costs	24	128	10	110
Non-wire alternative projects	23	23	23	23
Legacy meters	20	2	—	—
Preferred stock redemption	19	20	19	20
Recoverable REV demonstration project costs	17	16	17	15
Gate station upgrade project	14	14	14	14
Unamortized loss on reacquired debt	12	16	11	14
Other	200	146	183	132
Regulatory assets – noncurrent	3,705	3,639	3,396	3,316
Deferred derivative losses - short term	91	141	88	133
Recoverable energy costs	191	65	183	55
Regulatory assets – current	282	206	271	188
Total Regulatory Assets	$3,987	$3,845	$3,667	$3,504
Regulatory liabilities
Future income tax	$1,819	$1,984	$1,681	$1,840
Allowance for cost of removal less salvage	1,238	1,199	1,063	1,033
Unrecognized pension and other postretirement costs	429	32	368	—
Net unbilled revenue deferrals	126	209	126	209
Deferred derivative gains - long term	152	61	134	55
Pension and other postretirement benefit deferrals	130	102	85	55
2022 Late Payment Charge Deferral	92	—	92	—
Net proceeds from sale of property	78	103	77	103
System benefit charge carrying charge	72	70	67	63
Property tax refunds	37	35	35	35
TCJA net benefits*	30	125	29	123
Sales and use tax refunds	28	17	27	16
BQDM and REV Demo reconciliations	24	25	21	22
COVID-19 pandemic uncollectible reconciliation deferral	20	—	19	—
Earnings sharing - electric, gas and steam	13	13	10	10
Workers' compensation	11	8	11	8
Settlement of prudence proceeding	6	6	6	6
Energy efficiency portfolio standard unencumbered funds	5	15	7	19
Settlement of gas proceedings	4	12	4	12
Other	403	365	353	312
Regulatory liabilities – noncurrent	4,717	4,381	4,215	3,921
Deferred derivative gains - short term	521	142	482	132
Refundable energy costs	34	32	4	2
Revenue decoupling mechanism	13	11	—	—
Regulatory liabilities – current	568	185	486	134
Total Regulatory Liabilities	$5,285	$4,566	$4,701	$4,055

* See "Other Regulatory Matters," above.

In general, the Utilities receive or are being credited with a return at the Other Customer-Provided Capital rate for regulatory assets that have not been included in rate base, and receive or are being credited with a return at the pre-tax weighted average cost of capital once the asset is included in rate base. Similarly, the Utilities pay to or credit customers with a return at the Other Customer-Provided Capital rate for regulatory liabilities that have not been included in rate base, and pay to or credit customers with a return at the pre-tax weighted average cost of capital once the liability is included in rate base. The Other Customer-Provided Capital rate for the nine months ended September 30, 2022 and 2021 was 1.75 percent and 1.80 percent, respectively.

In general, the Utilities are receiving or being credited with a return on their regulatory assets for which a cash outflow has been made ($2,221 million and $1,962 million for Con Edison, and $2,024 million and $1,751 million for CECONY at September 30, 2022 and December 31, 2021, respectively). Regulatory assets of RECO for which a cash outflow has been made ($21 million and $25 million at September 30, 2022 and December 31, 2021, respectively) are not receiving or being credited with a return. RECO recovers regulatory assets over a period of up to four years or until they are addressed in its next base rate case in accordance with the rate provisions approved by the NJBPU. Regulatory liabilities are treated in a consistent manner.

Regulatory assets that represent future financial obligations and were deferred in accordance with the Utilities’ rate plans or orders issued by state regulators do not earn a return until such time as a cash outlay has been made. Regulatory liabilities are treated in a consistent manner. At September 30, 2022 and December 31, 2021, regulatory assets for Con Edison and CECONY that did not earn a return consisted of the following items:

Regulatory Assets Not Earning a Return*


	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Unrecognized pension and other postretirement costs	$24	$128	$10	$110
Environmental remediation costs	913	928	833	850
Revenue taxes	408	375	392	359
COVID-19 Deferral for Uncollectible Accounts Receivable	236	236	232	231
Deferred derivative losses - current	91	141	88	134
Deferred derivative losses - long term	32	51	27	45
Other	62	24	61	24
Total	$1,766	$1,883	$1,643	$1,753

*This table presents regulatory assets not earning a return for which no cash outlay has been made.

The recovery periods for regulatory assets for which a cash outflow has not been made and that do not earn a return have not yet been determined, except as noted below, and are expected to be determined pursuant to the Utilities’ future rate plans to be filed or orders issued by the state regulators in connection therewith.

The Utilities recover unrecognized pension and other postretirement costs over 10 years, and the portion of investment gains or losses recognized in expense over 15 years, pursuant to NYSPSC policy.

The deferral for revenue taxes represents the New York State metropolitan transportation business tax surcharge on the cumulative temporary differences between the book and tax basis of assets and liabilities of the Utilities, as well as the difference between taxes collected and paid by the Utilities to fund mass transportation. The Utilities recover the majority of the revenue taxes over the remaining book lives of the electric and gas plant assets, as well as the steam plant assets for CECONY.

The Utilities recover deferred derivative losses – current within one year, and noncurrent generally within three years.

Variable Interest Entities (Tables)

9 Months Ended

Sep. 30, 2022

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Income (Loss), Hypothetical Liquidation at Book Value

The HLBV method of accounting resulted in income/(loss) for the three and nine months ended September 30, 2022 and 2021 as follows:


	For the Three Months Ended September 30,		For the Nine Months Ended September 30,
(Millions of Dollars)	2022	2021	2022	2021
Tax equity investor	$6	$(74)	$(36)	$(127)
After tax	5	(56)	(27)	(96)
Con Edison	(7)	74	32	127
After tax	(5)	56	24	96

The HLBV method of accounting resulted in income/(loss) for the three and nine months ended September 30, 2022 and 2021 as follows:


	For the Three Months Ended September 30,		For the Nine Months Ended September 30,
(Millions of Dollars)	2022	2021	2022	2021
Tax equity investor	$—	$—	$(7)	$8
After tax	—	—	(5)	6
Con Edison	16	14	44	27
After tax	12	11	33	20

Summary of VIEs

At September 30, 2022 and December 31, 2021, Con Edison’s consolidated balance sheet included the following amounts associated with its VIEs:


	Tax Equity Projects
	Great Valley Solar (c)(d)		Copper Mountain - Mesquite Solar (c)(e)		CED Nevada Virginia (c)(h)
(Millions of Dollars)	2022	2021	2022	2021	2022	2021
Non-utility property, less accumulated depreciation (f)(g)	$269	$275	$420	$431	$627	$643
Other assets	40	37	168	167	61	55
Total assets (a)	$309	$312	$588	$598	$688	$698

Other liabilities	19	14	83	74	325	315
Total liabilities (b)	$19	$14	$83	$74	$325	$315

(a)The assets of the Tax Equity Projects and CED Nevada Virginia represent assets of a consolidated VIE that can be used only to settle obligations of the consolidated VIE.

(b)The liabilities of the Tax Equity Projects and CED Nevada Virginia represent liabilities of a consolidated VIE for which creditors do not have recourse to the general credit of the primary beneficiary.

(c)Con Edison did not provide any financial or other support during the year that was not previously contractually required.

(d)Great Valley Solar consists of the Great Valley Solar 1, Great Valley Solar 2, Great Valley Solar 3 and Great Valley Solar 4 projects, for which the noncontrolling interest of the tax equity investor was $71 million and $84 million at September 30, 2022 and December 31, 2021, respectively.

(e)Copper Mountain - Mesquite Solar consists of the Copper Mountain Solar 4, Mesquite Solar 2 and Mesquite Solar 3 projects for which the noncontrolling interest of the tax equity investor was $100 million and $118 million at September 30, 2022 and December 31, 2021, respectively.

(f)Non-utility property is reduced by accumulated depreciation of $33 million for Great Valley Solar, $55 million for Copper Mountain - Mesquite Solar, and $24 million for CED Nevada Virginia at September 30, 2022.

(g)Non-utility property is reduced by accumulated depreciation of $26 million for Great Valley Solar, $44 million for Copper Mountain - Mesquite Solar, and $10 million for CED Nevada Virginia at December 31, 2021.

(h)CED Nevada Virginia consists of the Copper Mountain Solar 5, Battle Mountain Solar and Water Strider Solar projects for which the noncontrolling interest of the tax equity investor was $54 million and $95 million at September 30, 2022 and December 31, 2021, respectively.

- 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.

+ References + Details

Short-Term Borrowing (Details)	1 Months Ended
Short-Term Borrowing (Details)	Aug. 31, 2022 USD ($)	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Short-term Debt [Line Items]
Commercial paper, outstanding				$ 1,941,000,000	$ 1,488,000,000
Loans outstanding under the credit agreement				$ 0	$ 0
Debt instrument term		364 days
Ratio of consolidated debt to consolidated total capital		0.65
Percentage of liens of companies consolidated asset		5.00%	5.00%
Maximum aggregate limit of failure to pay debt or derivative obligations		$ 150,000,000	$ 150,000,000
Face amount of debt		400,000,000
Proceeds from short-term debt		400,000,000
Incremental term loan, maximum aggregate amount available		$ 200,000,000
March 2022 Credit Agreement Variable Rate 364 Day Revolving Credit Agreement \| Revolving Credit Facility \| Subsidiaries
Short-term Debt [Line Items]
Debt instrument term			364 days
Maximum borrowing capacity			$ 750,000,000
Ratio of consolidated debt to consolidated total capital			0.65
Commercial Paper
Short-term Debt [Line Items]
Weighted average interest rate				3.40%	0.30%
CECONY \| Subsidiaries
Short-term Debt [Line Items]
Commercial paper, outstanding				$ 1,789,000,000	$ 1,361,000,000
CECONY \| Commercial Paper \| Subsidiaries
Short-term Debt [Line Items]
Weighted average interest rate				3.40%	0.30%
Clean Energy Businesses
Short-term Debt [Line Items]
Debt instrument term	364 days
Proceeds from short-term debt	$ 150,000,000

Derivative Instruments and Hedging Activities - Hedged Volume of Derivative Transactions (Details)	Sep. 30, 2022 MWh MW MMBTU gal
Electric Energy (MWh)
Derivatives, Fair Value [Line Items]
Notional amount \| MWh	29,387,725
Capacity (MW)
Derivatives, Fair Value [Line Items]
Notional amount \| MW	36,037
Natural Gas (Dt)
Derivatives, Fair Value [Line Items]
Notional amount \| MMBTU	289,274,503
Refined Fuels (gallons)
Derivatives, Fair Value [Line Items]
Notional amount \| gal	672,000
CECONY \| Electric Energy (MWh) \| Subsidiaries
Derivatives, Fair Value [Line Items]
Notional amount \| MWh	27,281,075
CECONY \| Capacity (MW) \| Subsidiaries
Derivatives, Fair Value [Line Items]
Notional amount \| MW	22,350
CECONY \| Natural Gas (Dt) \| Subsidiaries
Derivatives, Fair Value [Line Items]
Notional amount \| MMBTU	272,830,000
CECONY \| Refined Fuels (gallons) \| Subsidiaries
Derivatives, Fair Value [Line Items]
Notional amount \| gal	672,000

Leases - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Lessee, Lease, Description [Line Items]
Assets under finance leases	$ 2		$ 2		$ 2
Finance leases, accumulated amortization	4		4		4
Right-of-use assets	$ 5	$ 15	76	$ 32
Operating lease payment, not yet commenced			$ 3
Operating lease, not yet commenced, term of contract	40 years		40 years
CECONY \| Subsidiaries
Lessee, Lease, Description [Line Items]
Assets under finance leases	$ 1		$ 1		1
Finance leases, accumulated amortization	2		2		$ 2
Right-of-use assets	$ 3	$ 5	$ 67	$ 7

Subsequent Events (Tables)

9 Months Ended

Sep. 30, 2022

Subsequent Events [Abstract]

Schedule of Carrying Amounts of Assets and Liabilities Held For Sale

At September 30, 2022, the carrying amounts of the major classes of assets and liabilities of the Clean Energy Businesses, which subsequent to September 30, 2022 met the accounting criteria to be designated as held for sale, are presented as if on a held for sale basis, and accordingly exclude certain intercompany and net deferred tax liability balances, as follows:


(Millions of Dollars)			September 30, 2022
ASSETS
CURRENT ASSETS
Cash and temporary cash investments			$18
Accounts receivable and other receivables - net allowance for uncollectible accounts			204

Accrued unbilled revenue			120
Fuel oil, gas in storage, materials and supplies, at average cost			40
Restricted cash			163
Fair value of derivatives assets			58
Other current assets			173
TOTAL CURRENT ASSETS			776

NON-UTILITY PLANT
Non-utility property, net accumulated depreciation			4,114
Construction work in progress			385
NET PLANT			4,499
OTHER NONCURRENT ASSETS
Goodwill			31
Intangible assets, less accumulated amortization			1,222
Operating lease right-of-use asset			266
Fair value of derivatives assets			104
Other deferred charges and noncurrent assets			22
TOTAL OTHER NONCURRENT ASSETS			1,645
TOTAL ASSETS			$6,920


(Millions of Dollars)			September 30, 2022
LIABILITIES
CURRENT LIABILITIES
Long-term debt due within one year			$323
Term loan			150

Accounts payable			217

Operating lease liabilities			32
Other current liabilities			143
TOTAL CURRENT LIABILITIES			865
NONCURRENT LIABILITIES
Asset retirement obligations			76

Operating lease liabilities			248
Other deferred credits and noncurrent liabilities			20
TOTAL NONCURRENT LIABILITIES			344
LONG-TERM DEBT			2,344
TOTAL LIABILITIES			$3,553

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

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-SubTopic 20
-Section 50
-Paragraph 5B
-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721673-107760

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4A
-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721663-107760

+ Details

Derivative Instruments and Hedging Activities - Fair Values of Commodity Derivatives Including Offsetting (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Fair value of derivative assets
Net Amounts of Assets/ (Liabilities)	$ 1,037,000,000	$ 832,000,000
Fair value of derivative liabilities
Net Amounts of Assets/ (Liabilities)	(101,000,000)	(236,000,000)
Net fair value derivative assets/(liabilities)
Gross Amounts of Recognized Assets/(Liabilities)	690,000,000	(8,000,000)
Gross Amounts Offset	(289,000,000)	(24,000,000)
Net Amounts of Assets/ (Liabilities)	401,000,000	(32,000,000)
Interest Rate Swap
Fair value of derivative assets
Net Amounts of Assets/ (Liabilities)	105,000,000	4,000,000
Fair value of derivative liabilities
Net Amounts of Assets/ (Liabilities)	0	(57,000,000)
CECONY \| Subsidiaries
Fair value of derivative assets
Net Amounts of Assets/ (Liabilities)	836,000,000	728,000,000
Fair value of derivative liabilities
Net Amounts of Assets/ (Liabilities)	(65,000,000)	(128,000,000)
Net fair value derivative assets/(liabilities)
Gross Amounts of Recognized Assets/(Liabilities)	518,000,000	25,000,000
Gross Amounts Offset	(261,000,000)	(26,000,000)
Net Amounts of Assets/ (Liabilities)	257,000,000	(1,000,000)
Clean Energy Businesses \| Interest Rate Swap
Net fair value derivative assets/(liabilities)
Notional amount	996,000,000	1,031,000,000
Total fair value of derivative assets, Noncurrent \| Interest Rate Swap
Fair value of derivative assets
Net Amounts of Assets/ (Liabilities)	84,000,000	4,000,000
Total fair value of derivative liabilities
Fair value of derivative liabilities
Gross Amounts of Recognized Assets/(Liabilities)	(280,000,000)	(383,000,000)
Gross Amounts Offset	179,000,000	147,000,000
Net Amounts of Assets/ (Liabilities)	(101,000,000)	(236,000,000)
Total fair value of derivative liabilities \| CECONY \| Subsidiaries
Fair value of derivative liabilities
Gross Amounts of Recognized Assets/(Liabilities)	(184,000,000)	(181,000,000)
Gross Amounts Offset	119,000,000	53,000,000
Net Amounts of Assets/ (Liabilities)	(65,000,000)	(128,000,000)
Fair value of derivative liabilities, Current
Fair value of derivative liabilities
Gross Amounts of Recognized Assets/(Liabilities)	(212,000,000)	(289,000,000)
Gross Amounts Offset	142,000,000	137,000,000
Net Amounts of Assets/ (Liabilities)	(70,000,000)	(152,000,000)
Fair value of derivative liabilities, Current \| Interest Rate Swap
Fair value of derivative liabilities
Net Amounts of Assets/ (Liabilities)		(20,000,000)
Fair value of derivative liabilities, Current \| CECONY \| Subsidiaries
Fair value of derivative liabilities
Gross Amounts of Recognized Assets/(Liabilities)	(134,000,000)	(131,000,000)
Gross Amounts Offset	84,000,000	43,000,000
Net Amounts of Assets/ (Liabilities)	(50,000,000)	(88,000,000)
Fair value of derivative liabilities, Noncurrent
Fair value of derivative liabilities
Gross Amounts of Recognized Assets/(Liabilities)	(68,000,000)	(94,000,000)
Gross Amounts Offset	37,000,000	10,000,000
Net Amounts of Assets/ (Liabilities)	(31,000,000)	(84,000,000)
Fair value of derivative liabilities, Noncurrent \| Interest Rate Swap
Fair value of derivative liabilities
Net Amounts of Assets/ (Liabilities)		(38,000,000)
Fair value of derivative liabilities, Noncurrent \| CECONY \| Subsidiaries
Fair value of derivative liabilities
Gross Amounts of Recognized Assets/(Liabilities)	(50,000,000)	(50,000,000)
Gross Amounts Offset	35,000,000	10,000,000
Net Amounts of Assets/ (Liabilities)	(15,000,000)	(40,000,000)
Fair value of derivative assets, Current \| Interest Rate Swap
Fair value of derivative assets
Net Amounts of Assets/ (Liabilities)	21,000,000
Fair value of derivative assets, Current
Fair value of derivative assets
Gross Amounts of Recognized Assets/(Liabilities)	667,000,000	285,000,000
Gross Amounts Offset	(415,000,000)	(158,000,000)
Net Amounts of Assets/ (Liabilities)	252,000,000	127,000,000
Fair value of derivative assets, Current \| CECONY \| Subsidiaries
Fair value of derivative assets
Gross Amounts of Recognized Assets/(Liabilities)	521,000,000	135,000,000
Gross Amounts Offset	(335,000,000)	(64,000,000)
Net Amounts of Assets/ (Liabilities)	186,000,000	71,000,000
Total fair value of derivative assets, Noncurrent
Fair value of derivative assets
Gross Amounts of Recognized Assets/(Liabilities)	303,000,000	90,000,000
Gross Amounts Offset	(53,000,000)	(13,000,000)
Net Amounts of Assets/ (Liabilities)	250,000,000	77,000,000
Total fair value of derivative assets, Noncurrent \| CECONY \| Subsidiaries
Fair value of derivative assets
Gross Amounts of Recognized Assets/(Liabilities)	181,000,000	71,000,000
Gross Amounts Offset	(45,000,000)	(15,000,000)
Net Amounts of Assets/ (Liabilities)	136,000,000	56,000,000
Total fair value of derivative assets
Fair value of derivative assets
Gross Amounts of Recognized Assets/(Liabilities)	970,000,000	375,000,000
Gross Amounts Offset	(468,000,000)	(171,000,000)
Net Amounts of Assets/ (Liabilities)	502,000,000	204,000,000
Net fair value derivative assets/(liabilities)
Margin deposits	4,000,000	1,000,000
Total fair value of derivative assets \| CECONY \| Subsidiaries
Fair value of derivative assets
Gross Amounts of Recognized Assets/(Liabilities)	702,000,000	206,000,000
Gross Amounts Offset	(380,000,000)	(79,000,000)
Net Amounts of Assets/ (Liabilities)	322,000,000	127,000,000
Net fair value derivative assets/(liabilities)
Margin deposits	$ 4,000,000	$ 0

Derivative Instruments and Hedging Activities - Credit-Risk-Related Contingent Features (Details) $ in Millions	Sep. 30, 2022 USD ($)
Derivatives, Fair Value [Line Items]
Aggregate fair value – net liabilities	$ 116
Collateral posted	100
Additional collateral for non-derivative transactions without extended unsecured credit	6
Downgrade One Level from Current Ratings
Derivatives, Fair Value [Line Items]
Additional collateral	25
Downgrade to Below Investment Grade from Current Ratings
Derivatives, Fair Value [Line Items]
Additional collateral	59
Derivatives in net asset position additional collateral	96
CECONY \| Subsidiaries
Derivatives, Fair Value [Line Items]
Aggregate fair value – net liabilities	55
Collateral posted	100
CECONY \| Downgrade One Level from Current Ratings \| Subsidiaries
Derivatives, Fair Value [Line Items]
Additional collateral	0
CECONY \| Downgrade to Below Investment Grade from Current Ratings \| Subsidiaries
Derivatives, Fair Value [Line Items]
Additional collateral	$ 20

Current Expected Credit Losses

9 Months Ended

Sep. 30, 2022

Credit Loss [Abstract]

Current Expected Credit Losses

Allowance for Uncollectible Accounts

The Utilities’ “Account receivable – customers” balance consists of utility bills due (bills are generally due the month following billing) from customers who have energy delivered, generated, or services provided by the Utilities. The balance also reflects the Utilities’ purchase of receivables from energy service companies to support the retail choice programs.

“Other receivables” balance generally reflects costs billed by the Utilities for goods and services provided to external parties, such as accommodation work for private parties and certain governmental entities, real estate rental and pole attachments.

The Clean Energy Businesses’ customer accounts receivable balance generally reflects the management of energy supply assets, energy-efficiency services to government and commercial customers, and the engineering, procurement, and construction services of renewable energy projects. The Clean Energy Businesses calculate an

allowance for uncollectible accounts related to their energy services customers based on an aging and customer-specific analysis. The amount of such reserves was not material at September 30, 2022 and December 31, 2021.

The Companies develop expected loss estimates using past events data and consider current conditions and future reasonable and supportable forecasts. Changes to the Utilities’ reserve balances that result in write-offs of customer accounts receivable balances above existing rate allowances are not reflected in rates during the term of the current rate plans. For the Utilities’ customer accounts receivable allowance for uncollectible accounts, past events considered include write-offs relative to customer accounts receivable; current conditions include macro-and micro-economic conditions related to trends in the local economy, bankruptcy rates and aged customer accounts receivable balances, among other factors; and forecasts about the future include assumptions related to the level of write-offs and recoveries. Generally, the Utilities write off customer accounts receivable as uncollectible 90 days after the account is turned off for non-payment, or the account is closed during the collection process. See "COVID-19 Regulatory Matters" in Note B.

Other receivables allowance for uncollectible accounts is calculated based on a historical average of collections relative to total other receivables, including current receivables. Current macro- and micro-economic conditions are also considered when calculating the current reserve. Probable outcomes of pending litigation, whether favorable or unfavorable to the Companies, are also included in the consideration.

Starting in 2020, the potential economic impact of the COVID-19 pandemic was also considered in forward-looking projections related to write-off and recovery rates and resulted in increases to the allowance for uncollectible accounts. The decreases to the allowance for customer uncollectible accounts for Con Edison and CECONY were $31 million and $27 million, respectively for the three months ended September 30, 2022 and $12 million and $7 million, respectively, for the nine months ended September 30, 2022. The decreases primarily resulted from the credits issued pursuant to the New York State COVID-19 arrears assistance programs. See "COVID-19 Regulatory Matters" in Note B. The increases to the allowance for uncollectible accounts for Con Edison and CECONY were $38 million for the three months ended September 30, 2021 and $165 million and $162 million, respectively, for the nine months ended September 30, 2021.

Customer accounts receivable and the associated allowance for uncollectible accounts are included in the line “Accounts receivable – customers” on the Companies’ consolidated balance sheets. Other receivables and the associated allowance for uncollectible accounts are included in “Other receivables” on the consolidated balance sheets.

The table below presents a rollforward by major portfolio segment type for the three and nine months ended September 30, 2022 and 2021:


	For the Three Months Ended September 30,
	Con Edison				CECONY
	Accounts receivable - customers		Other receivables		Accounts receivable - customers		Other receivables
(Millions of Dollars)	2022	2021	2022	2021	2022	2021	2022	2021
Allowance for credit losses
Beginning Balance at July 1,	$336	$275	$9	$7	$324	$262	$7	$4
Recoveries	4	3	—	—	4	3	—	—
Write-offs	2	(24)	(2)	—	4	(23)	(1)	—
Reserve adjustments	(37)	59	2	—	(35)	58	1	1
Ending Balance September 30,	$305	$313	$9	$7	$297	$300	$7	$5


	For the Nine Months Ended September 30,
	Con Edison				CECONY
	Accounts receivable - customers		Other receivables		Accounts receivable - customers		Other receivables
(Millions of Dollars)	2022	2021	2022	2021	2022	2021	2022	2021
Allowance for credit losses
Beginning Balance at January 1,	$317	$148	$22	$7	$304	$138	$19	$4
Recoveries	13	9	—	—	12	8	—	—
Write-offs	(62)	(66)	(5)	(1)	(56)	(62)	(3)	—
Reserve adjustments	37	222	(8)	1	37	216	(9)	1
Ending Balance September 30,	$305	$313	$9	$7	$297	$300	$7	$5

Regulatory Matters - Rate Plans (Details) - USD ($) $ in Millions		1 Months Ended									3 Months Ended		9 Months Ended		12 Months Ended
	Dec. 31, 2021	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2023	May 31, 2022	Apr. 30, 2022	Mar. 31, 2022	Jan. 31, 2022	Oct. 31, 2021	Jul. 31, 2021	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Public Utilities, General Disclosures [Line Items]
Total revenues											$ 4,165.0	$ 3,613.0	$ 11,639.0	$ 10,261.0
Subsidiaries
Public Utilities, General Disclosures [Line Items]
Total revenues											$ 3,549.0	$ 3,092.0	9,972.0	$ 8,784.0
CECONY \| Electric \| Subsidiaries
Public Utilities, General Disclosures [Line Items]
Requested rate increase (decrease), amount					$ 278.0
Return on common equity (as a percent)					8.80%
Common equity ratio (percent)					48.00%
CECONY \| Electric \| Subsidiaries \| Year 1
Public Utilities, General Disclosures [Line Items]
Change in requested rate increase (decrease), amount						$ 161.0
CECONY \| Electric \| Subsidiaries \| Year 1 \| Scenario, Forecast
Public Utilities, General Disclosures [Line Items]
Requested rate increase (decrease), amount				$ 1,038.0
CECONY \| Electric \| Subsidiaries \| Year 2
Public Utilities, General Disclosures [Line Items]
Change in requested rate increase (decrease), amount						109.0
CECONY \| Electric \| Subsidiaries \| Year 2 \| Scenario, Forecast
Public Utilities, General Disclosures [Line Items]
Requested rate increase (decrease), amount			$ 744.0
CECONY \| Electric \| Subsidiaries \| Year 3
Public Utilities, General Disclosures [Line Items]
Change in requested rate increase (decrease), amount						7.0
CECONY \| Electric \| Subsidiaries \| Year 3 \| Scenario, Forecast
Public Utilities, General Disclosures [Line Items]
Requested rate increase (decrease), amount		$ 615.0
CECONY \| Gas \| Subsidiaries
Public Utilities, General Disclosures [Line Items]
Requested rate increase (decrease), amount					$ 164.0
Return on common equity (as a percent)					8.80%
Common equity ratio (percent)					48.00%
CECONY \| Gas \| Subsidiaries \| Year 1
Public Utilities, General Disclosures [Line Items]
Change in requested rate increase (decrease), amount						101.0
CECONY \| Gas \| Subsidiaries \| Year 1 \| Scenario, Forecast
Public Utilities, General Disclosures [Line Items]
Requested rate increase (decrease), amount				$ 402.0
CECONY \| Gas \| Subsidiaries \| Year 2
Public Utilities, General Disclosures [Line Items]
Change in requested rate increase (decrease), amount						29.0
CECONY \| Gas \| Subsidiaries \| Year 2 \| Scenario, Forecast
Public Utilities, General Disclosures [Line Items]
Requested rate increase (decrease), amount			$ 205.0
CECONY \| Gas \| Subsidiaries \| Year 3
Public Utilities, General Disclosures [Line Items]
Change in requested rate increase (decrease), amount						42.0
CECONY \| Gas \| Subsidiaries \| Year 3 \| Scenario, Forecast
Public Utilities, General Disclosures [Line Items]
Requested rate increase (decrease), amount		$ 176.0
CECONY \| Electric and Gas Transmission Projects \| Subsidiaries \| Earnings Adjustment Mechanisms (EAMs)
Public Utilities, General Disclosures [Line Items]
Total revenues													$ (4.9)		$ 92.0
O&R \| Electric \| Year 1
Public Utilities, General Disclosures [Line Items]
Requested rate increase (decrease), amount						4.9
O&R \| Electric \| Year 2
Public Utilities, General Disclosures [Line Items]
Requested rate increase (decrease), amount						16.2
O&R \| Electric \| Year 3
Public Utilities, General Disclosures [Line Items]
Requested rate increase (decrease), amount						23.1
O&R \| Electric \| Levelized Annual Basis
Public Utilities, General Disclosures [Line Items]
Requested rate increase (decrease), amount						11.7
O&R \| Gas \| Year 1
Public Utilities, General Disclosures [Line Items]
Requested rate increase (decrease), amount						0.7
O&R \| Gas \| Year 2
Public Utilities, General Disclosures [Line Items]
Requested rate increase (decrease), amount						7.4
O&R \| Gas \| Year 3
Public Utilities, General Disclosures [Line Items]
Requested rate increase (decrease), amount						9.9
O&R \| Gas \| Levelized Annual Basis
Public Utilities, General Disclosures [Line Items]
Requested rate increase (decrease), amount						$ 4.4
O&R \| Electric and Gas Transmission Projects
Public Utilities, General Disclosures [Line Items]
Recovery period of late payment charges									3 years
Recovery of late payment charges, amount									$ 2.8
Recovery of late payment charges, return on equity threshold rate									0.05%
RECO \| Electric
Public Utilities, General Disclosures [Line Items]
Requested rate increase (decrease), amount	$ 16.9							$ 20.4
Return on common equity (percent)								11.04%		0.50%
Common equity ratio percentage								47.00%
RECO \| NJBPU
Public Utilities, General Disclosures [Line Items]
Infrastructure investment plan							$ 209.0
Infrastructure investment plan period (in years)							5 years

CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED) - CECONY - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
OPERATING ACTIVITIES
Net income	$ 1,470	$ 1,122
PRINCIPAL NON-CASH CHARGES/(CREDITS) TO INCOME
Depreciation and amortization	1,593	1,511
Deferred income taxes	317	167
Other non-cash items, net	195	7
CHANGES IN ASSETS AND LIABILITIES
Accounts receivable – customers	(140)	(387)
Reserve adjustments	(12)	165
Other receivables and other current assets	(193)	(234)
Prepayments	(588)	(576)
Accounts payable	61	(15)
Pensions and retiree benefits obligations, net	105	237
Pensions and retiree benefits contributions	(34)	(467)
Accrued taxes	(10)	(27)
Accrued interest	126	126
Deferred charges, noncurrent assets, leases, net and other regulatory assets	(550)	(478)
Deferred credits, noncurrent liabilities and other regulatory liabilities	468	612
Other current liabilities	0	(139)
NET CASH FLOWS FROM OPERATING ACTIVITIES	2,618	1,712
INVESTING ACTIVITIES
Utility construction expenditures	(2,844)	(2,697)
Cost of removal less salvage	(247)	(242)
NET CASH FLOWS USED IN INVESTING ACTIVITIES	(3,346)	(2,437)
FINANCING ACTIVITIES
Net issuance (retirement) of short-term debt	1,003	(834)
Issuance of long-term debt	0	1,979
Retirement of long-term debt	(383)	(1,904)
Debt issuance costs	0	(30)
NET CASH FLOWS USED IN FINANCING ACTIVITIES	(177)	(496)
CASH AND TEMPORARY CASH INVESTMENTS
NET CHANGE FOR THE PERIOD	(905)	(1,221)
BALANCE AT BEGINNING OF PERIOD	1,146	1,436
BALANCE AT END OF PERIOD	241	215
Cash paid/(received) during the period for:
Interest	583	565
Income taxes	30	(9)
SUPPLEMENTAL DISCLOSURE OF NON-CASH INFORMATION
Construction expenditures in accounts payable	486	388
Subsidiaries
OPERATING ACTIVITIES
Net income	1,138	1,011
PRINCIPAL NON-CASH CHARGES/(CREDITS) TO INCOME
Depreciation and amortization	1,341	1,267
Deferred income taxes	235	166
Other non-cash items, net	230	21
CHANGES IN ASSETS AND LIABILITIES
Accounts receivable – customers	(134)	(383)
Reserve adjustments	(7)	162
Other receivables and other current assets	(5)	(290)
Accounts receivable from affiliated companies	(66)	18
Prepayments	(559)	(573)
Accounts payable	(12)	(49)
Accounts payable to affiliated companies	4	1
Pensions and retiree benefits obligations, net	101	234
Pensions and retiree benefits contributions	(22)	(430)
Accrued taxes	(3)	(31)
Accrued taxes to affiliated companies	2	6
Accrued interest	109	103
Deferred charges, noncurrent assets, leases, net and other regulatory assets	(553)	(452)
Deferred credits, noncurrent liabilities and other regulatory liabilities	409	533
Other current liabilities	(17)	(63)
NET CASH FLOWS FROM OPERATING ACTIVITIES	2,191	1,251
INVESTING ACTIVITIES
Utility construction expenditures	(2,687)	(2,545)
Cost of removal less salvage	(242)	(237)
NET CASH FLOWS USED IN INVESTING ACTIVITIES	(2,929)	(2,782)
FINANCING ACTIVITIES
Net issuance (retirement) of short-term debt	428	(718)
Issuance of long-term debt	0	1,500
Retirement of long-term debt	0	(640)
Debt issuance costs	(1)	(20)
Capital contribution by parent	150	1,101
Dividend to parent	(734)	(741)
NET CASH FLOWS USED IN FINANCING ACTIVITIES	(157)	482
CASH AND TEMPORARY CASH INVESTMENTS
NET CHANGE FOR THE PERIOD	(895)	(1,049)
BALANCE AT BEGINNING OF PERIOD	920	1,067
BALANCE AT END OF PERIOD	25	18
Cash paid/(received) during the period for:
Interest	466	446
Income taxes	60	(2)
SUPPLEMENTAL DISCLOSURE OF NON-CASH INFORMATION
Construction expenditures in accounts payable	414	335
Software Licenses
SUPPLEMENTAL DISCLOSURE OF NON-CASH INFORMATION
Capital expenditures incurred but unpaid as of end of period	2	24
Software Licenses \| Subsidiaries
SUPPLEMENTAL DISCLOSURE OF NON-CASH INFORMATION
Capital expenditures incurred but unpaid as of end of period	2	22
Equipment
SUPPLEMENTAL DISCLOSURE OF NON-CASH INFORMATION
Capital expenditures incurred but unpaid as of end of period	17	22
Equipment \| Subsidiaries
SUPPLEMENTAL DISCLOSURE OF NON-CASH INFORMATION
Capital expenditures incurred but unpaid as of end of period	$ 17	$ 22

Other Postretirement Benefits (Tables)

9 Months Ended

Sep. 30, 2022

Retirement Benefits [Abstract]

Total Periodic Benefit Costs

The components of the Companies’ total periodic benefit cost for the three and nine months ended September 30, 2022 and 2021 were as follows:


	For the Three Months Ended September 30,
	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Service cost – including administrative expenses	$72	$85	$67	$80
Interest cost on projected benefit obligation	126	118	119	111
Expected return on plan assets	(292)	(274)	(277)	(260)
Recognition of net actuarial loss	94	197	89	187
Recognition of prior service credit	(4)	(4)	(5)	(5)
TOTAL PERIODIC BENEFIT COST/(CREDIT)	$(4)	$122	$(7)	$113
Cost capitalized	(32)	(41)	(30)	(39)
Reconciliation to rate level	63	(54)	59	(52)
Total expense recognized	$27	$27	$22	$22


	For the Nine Months Ended September 30,
	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Service cost – including administrative expenses	$215	$257	$202	$241
Interest cost on projected benefit obligation	379	353	357	332
Expected return on plan assets	(876)	(822)	(832)	(779)
Recognition of net actuarial loss	283	590	268	559
Recognition of prior service credit	(12)	(12)	(15)	(15)
TOTAL PERIODIC BENEFIT COST/(CREDIT)	($11)	$366	($20)	$338
Cost capitalized	(100)	(120)	(95)	(113)
Reconciliation to rate level	192	(165)	182	(158)
Total expense recognized	$81	$81	$67	$67

The components of the Companies’ total periodic other postretirement benefit cost/(credit) for the three and nine months ended September 30, 2022 and 2021 were as follows:


	For the Three Months Ended September 30,
	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Service cost - including administrative expenses	$5	$2	$4	$1
Interest cost on projected other postretirement benefit obligation	8	7	8	6
Expected return on plan assets	(18)	(17)	(14)	(14)
Recognition of net actuarial loss/(gain)	(4)	4	(3)	3
TOTAL PERIODIC OTHER POSTRETIREMENT BENEFIT COST/(CREDIT)	$(9)	($4)	$(5)	$(4)
Cost capitalized	(2)	(3)	(2)	(3)
Reconciliation to rate level	7	7	6	6
Total credit recognized	$(4)	$—	$(1)	$(1)


	For the Nine Months Ended September 30,
	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Service cost - including administrative expenses	$14	$15	$11	$11
Interest cost on projected other postretirement benefit obligation	26	23	23	19
Expected return on plan assets	(54)	(51)	(43)	(41)
Recognition of net actuarial loss/(gain)	(11)	17	(7)	13
Recognition of prior service credit	(1)	(2)	—	(1)
TOTAL PERIODIC OTHER POSTRETIREMENT BENEFIT COST/(CREDIT)	$(26)	$2	$(16)	$1
Cost capitalized	(6)	(9)	(5)	(7)
Reconciliation to rate level	22	7	18	2
Total credit recognized	$(10)	$—	$(3)	$(4)

Capitalization (Tables)

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

Carrying Amounts and Fair Values of Long-Term Debt

The carrying amounts and fair values of long-term debt at September 30, 2022 and December 31, 2021 were:


(Millions of Dollars)	2022		2021
Long-Term Debt (including current portion) (a)	Carrying Amount	Fair Value	Carrying Amount	Fair Value
Con Edison	$22,673	$19,311	$23,044	$26,287
CECONY	$18,389	$15,465	$18,382	$21,382

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2022

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, 2022 and December 31, 2021 are summarized below.


	2022					2021
(Millions of Dollars)	Level 1	Level 2	Level 3	Netting Adjustment (e)	Total	Level 1	Level 2	Level 3	Netting Adjustment (e)	Total
Con Edison
Derivative assets:
Commodity (a)(b)(c)	$189	$610	$37	$(435)	$401	$95	$260	$17	$(171)	$201
Interest rate swaps (a)(b)(c)	—	105	—	—	105	—	4	—	—	4
Other (a)(b)(d)	415	116	—	—	531	492	135	—	—	627
Total assets	$604	$831	$37	$(435)	$1,037	$587	$399	$17	$(171)	$832
Derivative liabilities:
Commodity (a)(b)(c)	$17	$211	$21	$(148)	$101	$33	$266	$28	$(148)	$179
Interest rate swaps (a)(b)(c)	—	—	—	—	—	—	57	—	—	57
Total liabilities	$17	$211	$21	$(148)	$101	$33	$323	$28	$(148)	$236
CECONY
Derivative assets:
Commodity (a)(b)(c)	$170	$497	$9	$(350)	$326	$67	$138	$1	$(79)	$127
Other (a)(b)(d)	400	110	—	—	510	474	127	—	—	601
Total assets	$570	$607	$9	$(350)	$836	$541	$265	$1	$(79)	$728
Derivative liabilities:
Commodity (a)(b)(c)	$5	$144	$9	$(93)	$65	$1	$172	$8	$(53)	$128
Total liabilities	$5	$144	$9	$(93)	$65	$1	$172	$8	$(53)	$128

(a)The Companies’ policy is to review the fair value hierarchy and recognize transfers into and transfers out of the levels at the end of each reporting period. Con Edison and CECONY had $1 million of commodity derivative liabilities transferred from level 3 to level 2 during the nine months ended September 30, 2022 because of availability of observable market data due to the decrease in the terms of certain contracts from beyond three years as of March 31, 2022 to less than three years as of June 30, 2022. Con Edison and CECONY had $1 million of commodity derivative assets and $4 million and $3 million of commodity derivative liabilities, respectively, transferred from level 3 to level 2 during the year ended December 31, 2021 because of availability of observable market data due to the decrease in the terms of certain contracts from beyond three years as of September 30, 2021 to less than three years as of December 31, 2021.

(b)Level 2 assets and liabilities include investments held in the deferred compensation plan and/or non-qualified retirement plans, exchange-traded contracts where there is insufficient market liquidity to warrant inclusion in Level 1, and certain over-the-counter derivative instruments for electricity, refined products 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.

(c)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, 2022 and December 31, 2021, the Companies determined that nonperformance risk would have no material impact on their financial position or results of operations.

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

(e)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.

Schedule of Commodity Derivatives

Fair Value of Level 3 at September 30, 2022

Valuation
Techniques

Unobservable Inputs

Range

(Millions of Dollars)

Con Edison – Commodity

Electricity

$17

Discounted Cash Flow

Forward energy prices (a)

$22.25-$172.80 per MWh

(4)

Discounted Cash Flow

Forward capacity prices (a)

$0.55-$7.26 per kW-month

Natural Gas

—

Discounted Cash Flow

Forward natural gas prices (a)

$3.75-$21.37 per Dt

Transmission Congestion Contracts/Financial Transmission Rights

Discounted Cash Flow

Inter-zonal forward price curves adjusted for historical zonal losses (b)

$(12.89)-$207.83 per MWh

Total Con Edison—Commodity

$16

CECONY – Commodity

Electricity

Discounted Cash Flow

Forward energy prices (a)

$37.33-$172.80 per MWh

Electricity

(6)

Discounted Cash Flow

Forward capacity prices (a)

$1.10-$7.26 per kW-month

Transmission Congestion Contracts

Discounted Cash Flow

Inter-zonal forward price curves adjusted for historical zonal losses (b)

$1.03-$5.51 per MWh

Total CECONY—Commodity

$—

(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

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, 2022 and 2021 and classified as Level 3 in the fair value hierarchy:


	For the Three Months Ended September 30,
	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Beginning balance as of July 1,	$9	$(9)	$(11)	$(7)
Included in earnings	(10)	21	(1)	1
Included in regulatory assets and liabilities	14	(17)	11	(11)
Purchases	1	—	—	—
Settlements	2	—	1	—
Ending balance as of September 30,	$16	$(5)	$—	$(17)


	For the Nine Months Ended September 30,
	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Beginning balance as of January 1,	$(11)	$(19)	$(7)	$(10)
Included in earnings	13	20	(3)	(2)
Included in regulatory assets and liabilities	7	(9)	5	(7)
Purchases	3	—	—	—
Settlements	3	3	4	2
Transfer out of level 3	1	—	1	—
Ending balance as of September 30,	$16	$(5)	$—	$(17)

CONSOLIDATED STATEMENT OF EQUITY (UNAUDITED) (Parenthetical) - $ / shares	3 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021
Statement of Stockholders' Equity [Abstract]
Common stock dividends per share (dollars per share)	$ 0.79	$ 0.79	$ 0.79	$ 0.775	$ 0.775	$ 0.775

Summary of Significant Accounting Policies and Other Matters - Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Accounting Policies [Abstract]
Net income for common stock	$ 613	$ 538	$ 1,470	$ 1,122
Weighted average common shares outstanding – basic (shares)	354.6	353.4	354.4	346.8
Add: Incremental shares attributable to effect of potentially dilutive securities (shares)	1.3	0.7	1.3	0.7
Adjusted weighted average common shares outstanding – diluted (shares)	355.9	354.1	355.7	347.5
Net income per common share - basic (dollars per share)	$ 1.73	$ 1.52	$ 4.15	$ 3.23
Net income per common share - diluted (dollars per share)	$ 1.72	$ 1.52	$ 4.13	$ 3.23

- Definition

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

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- 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.

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- Definition

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

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+ Details

- Definition

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

+ References

+ Details

Variable Interest Entities - HLVB Method of Accounting (Details) - Variable Interest Entity, Primary Beneficiary - Clean Energy Businesses - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
CED Nevada Virginia \| Tax Equity Investors
Variable Interest Entity [Line Items]
Income (loss) before tax	$ (6)	$ 74	$ 36	$ 127
Net income (loss)	(5)	56	27	96
CED Nevada Virginia \| Con Edison Development
Variable Interest Entity [Line Items]
Income (loss) before tax	(7)	74	32	127
Net income (loss)	(5)	56	24	96
Tax Equity Projects \| Tax Equity Investors
Variable Interest Entity [Line Items]
Income (loss) before tax	0	0	(7)	8
Net income (loss)	0	0	(5)	6
Tax Equity Projects \| Con Edison Development
Variable Interest Entity [Line Items]
Income (loss) before tax	16	14	44	27
Net income (loss)	$ 12	$ 11	$ 33	$ 20

CONSOLIDATED BALANCE SHEET (UNAUDITED) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
CURRENT ASSETS
Cash and temporary cash investments	$ 78	$ 992
Accounts receivable – customers, net allowance for uncollectible accounts	2,095	1,943
Other receivables, net allowance for uncollectible accounts	330	298
Taxes receivable	9	13
Accrued unbilled revenue	619	662
Fuel oil, gas in storage, materials and supplies, at average cost	533	437
Prepayments	913	295
Regulatory assets	282	206
Restricted cash	163	154
Revenue decoupling mechanism receivable	167	190
Fair value of derivative assets	256	128
Other current assets	288	233
TOTAL CURRENT ASSETS	5,733	5,551
INVESTMENTS	805	853
UTILITY PLANT, AT ORIGINAL COST
General	4,167	4,170
TOTAL	56,476	54,239
Less: Accumulated depreciation	12,831	12,177
Net	43,645	42,062
Construction work in progress	2,234	2,152
NET UTILITY PLANT	45,879	44,214
NON-UTILITY PLANT
Non-utility property, net accumulated depreciation of $731 and $626 in 2022 and 2021, respectively	4,128	4,194
Construction work in progress	385	188
NET PLANT	50,392	48,596
OTHER NONCURRENT ASSETS
Goodwill	439	439
Intangible assets, net accumulated amortization of $368 and $297 in 2022 and 2021, respectively	1,222	1,293
Regulatory assets	3,705	3,639
Pension and retiree benefits	2,188	1,654
Operating lease right-of-use asset	844	809
Fair value of derivative assets	250	77
Other Assets, Miscellaneous, Noncurrent	185	205
TOTAL OTHER NONCURRENT ASSETS	8,833	8,116
TOTAL ASSETS	65,763	63,116
CURRENT LIABILITIES
Long-term debt due within one year	323	440
Term loan	550	0
Notes payable	1,941	1,488
Accounts payable	1,587	1,497
Customer deposits	345	300
Accrued taxes	94	104
Accrued interest	277	151
Accrued wages	117	113
Fair value of derivative liabilities	70	152
Regulatory liabilities	568	185
System benefit charge	423	423
Operating lease liabilities	131	113
Other current liabilities	464	461
TOTAL CURRENT LIABILITIES	6,890	5,427
NONCURRENT LIABILITIES
Provision for injuries and damages	176	183
Pensions and retiree benefits	688	737
Superfund and other environmental costs	923	940
Asset retirement obligations	591	577
Fair value of derivative liabilities	31	84
Deferred income taxes and unamortized investment tax credits	7,387	6,873
Operating lease liabilities	772	717
Regulatory liabilities	4,717	4,381
Deferred Credits and Other Liabilities, Noncurrent	262	257
TOTAL NONCURRENT LIABILITIES	15,547	14,749
LONG-TERM DEBT	22,350	22,604
COMMITMENTS, CONTINGENCIES, AND GUARANTEES (Note B, Note G, and Note H)
EQUITY
Common shareholders’ equity	20,748	20,037
Noncontrolling interest	228	299
TOTAL EQUITY (See Statement of Equity)	20,976	20,336
TOTAL LIABILITIES AND EQUITY	65,763	63,116
Electric
UTILITY PLANT, AT ORIGINAL COST
Utility plant, at original cost	36,346	34,938
Gas
UTILITY PLANT, AT ORIGINAL COST
Utility plant, at original cost	13,068	12,303
Steam
UTILITY PLANT, AT ORIGINAL COST
Utility plant, at original cost	$ 2,895	$ 2,828

Regulatory Matters - COVID-19 Regulatory Matters (Details) - USD ($) $ in Millions	1 Months Ended		3 Months Ended	9 Months Ended		12 Months Ended			13 Months Ended	25 Months Ended	31 Months Ended	33 Months Ended
	Jun. 30, 2022	Jan. 31, 2021	Sep. 30, 2022	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2023	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2022	Mar. 31, 2022	Sep. 30, 2022	Sep. 30, 2022	Nov. 30, 2021	Jan. 01, 2021
Public Utilities, General Disclosures [Line Items]
Reserve adjustments				$ (12.0)	$ 165.0
Accounts receivable - customers, allowance for uncollectible accounts			$ 305.0	305.0			$ 317.0				$ 305.0	$ 305.0
Accounts receivable			2,095.0	2,095.0			1,943.0				2,095.0	2,095.0
Subsidiaries
Public Utilities, General Disclosures [Line Items]
Reserve adjustments				(7.0)	$ 162.0
Accounts receivable - customers, allowance for uncollectible accounts			297.0	297.0			304.0				297.0	297.0
Accounts receivable			1,982.0	1,982.0			1,841.0				1,982.0	1,982.0
CECONY \| Subsidiaries \| COVID-19 Arrears Assistance Program
Public Utilities, General Disclosures [Line Items]
Credits issued from government assistance	$ 164.5		265.8	315.1
Eligible credit recovery period	4 years
O&R \| Subsidiaries \| COVID-19 Arrears Assistance Program
Public Utilities, General Disclosures [Line Items]
Credits issued from government assistance	$ 1.6		4.7	5.5
Eligible credit recovery period	1 year
COVID-19
Public Utilities, General Disclosures [Line Items]
Deferred costs			0.4	0.4							0.4	0.4
COVID-19 \| Consolidated Edison Company of New York, Inc. And Orange And Rockland \| Subsidiaries
Public Utilities, General Disclosures [Line Items]
Reserve for customer arrearages							7.0
COVID-19 \| Consolidated Edison Company of New York, Inc. And Orange And Rockland \| Electric and Gas Transmission Projects \| Subsidiaries
Public Utilities, General Disclosures [Line Items]
Write off										$ 11.0
COVID-19 \| CECONY \| Subsidiaries
Public Utilities, General Disclosures [Line Items]
Reserve for customer arrearages													$ 7.0
COVID-19 \| CECONY \| Electric and Gas Transmission Projects \| Subsidiaries
Public Utilities, General Disclosures [Line Items]
Reserve adjustments												232.0
Write off											19.0
Account receivable, before allowance for credit loss			148.4	148.4							148.4	148.4
Accounts receivable - customers, allowance for uncollectible accounts			89.6	89.6							89.6	89.6
Tax credit			20.9	70.1
Accounts receivable			2,279.0	2,279.0							2,279.0	2,279.0
COVID-19 \| CECONY \| Gas \| Subsidiaries \| Scenario, Forecast
Public Utilities, General Disclosures [Line Items]
Late payment charges and fees						$ 4.0			$ 7.0
COVID-19 \| CECONY \| Electric \| Subsidiaries \| Scenario, Forecast
Public Utilities, General Disclosures [Line Items]
Late payment charges and fees						$ 19.0			$ 43.0
COVID-19 \| O&R \| Electric and Gas Transmission Projects \| Subsidiaries
Public Utilities, General Disclosures [Line Items]
Account receivable, before allowance for credit loss			1.6	1.6							1.6	1.6
Accounts receivable - customers, allowance for uncollectible accounts			2.7	2.7							2.7	2.7
Tax credit			0.4	1.2
Accounts receivable			$ 109.0	$ 109.0							109.0	109.0
COVID-19 \| O&R \| Gas \| Subsidiaries
Public Utilities, General Disclosures [Line Items]
Late payment charges and fees							$ 2.4
Reserve adjustments												$ 3.0
Write off											$ 1.0
COVID-19 \| O&R \| Electric \| Subsidiaries
Public Utilities, General Disclosures [Line Items]
Late payment charges and fees								$ 1.7
Summer Cooling Credit Program \| Residential Customers \| COVID-19 \| CECONY \| Subsidiaries
Public Utilities, General Disclosures [Line Items]
Expected deferred revenue														$ 63.4
Cost of the program, recovery period		5 years

Dispositions	9 Months Ended
Dispositions	Sep. 30, 2022
Discontinued Operations and Disposal Groups [Abstract]
Dispositions	DispositionsIn April 2021, a subsidiary of the Clean Energy Businesses entered into an agreement to sell substantially all of its membership interests in a renewable electric project that it developed and also all of its membership interests in a renewable electric project that it acquired in 2016. The sales were completed in June 2021. The combined carrying value of both projects was approximately $192 million in June 2021. The net pre-tax gain on the sales was $3 million ($2 million after-tax) and was included within "Other operations and maintenance" on Con Edison's consolidated income statement for the year ended December 31, 2021. The retained portion of the membership interest in the renewable electric project, of $11 million, was calculated based on a discounted cash flow of future projected earnings, and the retained portion is accounted for as an equity method investment. The portion of the gain attributable to the retained portion of the membership interest was not material for the year ended December 31, 2021. See Note P.

Material Contingencies - Additional Information (Details) $ in Millions		1 Months Ended			9 Months Ended
	Mar. 12, 2014 building people	Aug. 31, 2022	Jun. 30, 2022	Feb. 28, 2017 USD ($)	Sep. 30, 2022 USD ($) lawsuit	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Loss Contingencies [Line Items]
Accrued regulatory liability					$ 4,717	$ 4,381
Guarantee obligations maximum exposure					$ 2,232	2,157
Debt instrument term			364 days
Clean Energy Businesses
Loss Contingencies [Line Items]
Debt instrument term		364 days
Payment Guarantee by CET Electric of Contributions to New York Transco LLC
Loss Contingencies [Line Items]
Estimated project cost percentage					175.00%
Financial Guarantee for Indemnity Agreements for Surety Bonds
Loss Contingencies [Line Items]
Guarantee obligations maximum exposure					$ 70
Financial Guarantee For Obligations Under Senior Unsecured Term Loan Credit Agreement
Loss Contingencies [Line Items]
Guarantee obligations maximum exposure					$ 150
NY Transco \| Payment Guarantee by CET Electric of Contributions to New York Transco LLC
Loss Contingencies [Line Items]
Ownership interest, percentage					45.70%
Settlement of Gas Proceedings
Loss Contingencies [Line Items]
Accrued regulatory liability					$ 4	$ 12
Manhattan Explosion and Fire
Loss Contingencies [Line Items]
Number of buildings destroyed by fire \| building	2
Number of people died in explosion and fire incident \| people	8
Number of people injured in explosion and fire incident (more than) \| people	50
Amount of costs that will not recover from customers				$ 126
Number of pending lawsuits \| lawsuit					80
Loss contingency accrual					$ 40		$ 40
Insurance receivable					$ 40		$ 40
Manhattan Explosion and Fire \| Settlement of Gas Proceedings
Loss Contingencies [Line Items]
Accrued regulatory liability				$ 27

Income Tax

9 Months Ended

Sep. 30, 2022

Income Tax Disclosure [Abstract]

Income Tax

Con Edison’s income tax expense increased to $160 million for the three months ended September 30, 2022 from $127 million for the three months ended September 30, 2021. The increase in income tax expense is primarily due to higher income before income tax expense, higher state income taxes and assistance received from a New York State COVID-19 arrears program in 2022 (see “COVID-19 Regulatory Matters” in Note B), offset in part by higher income attributable to non-controlling interest and lower reserve for injuries and damages.

CECONY’s income tax expense increased to $124 million for the three months ended September 30, 2022 from $90 million for the three months ended September 30, 2021. The increase in income tax expense is primarily due to higher income before income tax expense, higher state income taxes, assistance received from a New York State COVID-19 arrears program in 2022 (see “COVID-19 Regulatory Matters” in Note B) and the absence of a favorable tax adjustment from a prior year tax return due to an increase in the general business tax credits, offset in part by lower reserve for injuries and damages.

Reconciliation of the difference between income tax expense and the amount computed by applying the prevailing statutory income tax rate to income before income taxes for the three months ended September 30, 2022 and 2021 is as follows:


	Con Edison				CECONY
(% of Pre-tax income)	2022		2021		2022		2021
STATUTORY TAX RATE
Federal	21	%	21	%	21	%	21	%
Changes in computed taxes resulting from:
State income tax, net of federal income tax benefit	6		5		5		5
Amortization of excess deferred federal income taxes	(6)		(7)		(7)		(8)
Taxes attributable to non-controlling interest	—		4		—		—
Cost of removal	1		1		1		1
Other plant-related items	—		(1)		—		(1)
Renewable energy credits	(1)		(1)		—		—
Allowance for uncollectible accounts, net of COVID-19 assistance	—		—		1		—
Injuries and damages reserve	—		—		—		1


Prior period federal income tax return adjustments	—		(1)		—		(1)


Other	—		—		(1)		—
Effective tax rate	21	%	21	%	20	%	18	%

Con Edison’s income tax expense increased to $330 million for the nine months ended September 30, 2022 from $194 million for the nine months ended September 30, 2021. The increase in income tax expense is primarily due to higher income before income tax expense, higher state income taxes and an increase in the reserve for uncertain tax positions for prior years at the Clean Energy Businesses, offset in part by a lower loss attributable to non-controlling interest and an increase in research and development credits from prior years at the Utilities.

CECONY’s income tax expense increased to $232 million for the nine months ended September 30, 2022 from $188 million for the nine months ended September 30, 2021. The increase in income tax expense is primarily due to higher income before income tax expense, higher state income taxes and lower flow-through tax benefits in 2022 for plant-related items, offset in part by higher research and development credits from prior years.

Reconciliation of the difference between income tax expense and the amount computed by applying the prevailing statutory income tax rate to income before income taxes for the nine months ended September 30, 2022 and 2021 is as follows:


	Con Edison				CECONY
(% of Pre-tax income)	2022		2021		2022		2021
STATUTORY TAX RATE
Federal	21	%	21	%	21	%	21	%
Changes in computed taxes resulting from:
State income tax, net of federal income tax benefit	6		5		5		5
Amortization of excess deferred federal income taxes	(8)		(11)		(10)		(11)
Taxes attributable to non-controlling interest	1		3		—		—
Cost of removal	1		2		2		2
Other plant-related items	—		(1)		(1)		(1)
Renewable energy credits	(2)		(2)		—		—








Other	—		(1)		—		—
Effective tax rate	19	%	16	%	17	%	16	%

In April 2021, New York State passed a law that increased the corporate franchise tax rate on business income from 6.5% to 7.25%, retroactive to January 1, 2021, for taxpayers with taxable income greater than $5 million. The law also reinstated the business capital tax at 0.1875%, not to exceed an annual maximum tax liability of $5 million per taxpayer. New York State requires a corporate franchise taxpayer to calculate and pay the highest amount of tax under the three alternative methods: a tax on business income; a tax on business capital; or a fixed dollar minimum. The provisions to increase the corporate franchise tax rate and reinstate a business capital tax are scheduled to expire after 2023 and are not expected to have a material impact on the Companies’ financial position, results of operations or liquidity.

Uncertain Tax Positions

As a result of an unfavorable settlement reached at appeals with the IRS in the second quarter of 2022, the Clean Energy Businesses increased its reserve for uncertain tax positions for prior years by $5 million. At September 30, 2022, the estimated liability for uncertain tax positions for Con Edison was $21 million ($7 million for CECONY). Con Edison reasonably expects to resolve within the next twelve months approximately $17 million of various federal uncertainties due to the expected completion of ongoing tax examinations, of which the entire amount, if recognized, would reduce Con Edison's effective tax rate. The amount related to CECONY is $4 million, which, 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 $21 million, with $7 million attributable to CECONY.

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. For the nine months ended September 30, 2022 and 2021, the Companies recognized an immaterial amount of interest expense and no penalties for uncertain tax positions in their consolidated income statements. At September 30, 2022 and December 31, 2021, the Companies recognized an immaterial amount of accrued interest on their consolidated balance sheets.

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI https://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Environmental Matters - Accrued Liabilities and Regulatory Assets (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Site Contingency [Line Items]
Accrued liabilities	$ 923	$ 940
Regulatory assets	3,987	3,845
Subsidiaries
Site Contingency [Line Items]
Accrued liabilities	833	850
Manufactured gas plant sites
Site Contingency [Line Items]
Accrued liabilities	833	845
Other Superfund Sites
Site Contingency [Line Items]
Accrued liabilities	90	95
Superfund Sites
Site Contingency [Line Items]
Accrued liabilities	923	940
Regulatory assets	919	938
CECONY \| Subsidiaries
Site Contingency [Line Items]
Regulatory assets	3,667	3,504
CECONY \| Manufactured gas plant sites \| Subsidiaries
Site Contingency [Line Items]
Accrued liabilities	744	755
CECONY \| Other Superfund Sites \| Subsidiaries
Site Contingency [Line Items]
Accrued liabilities	89	95
CECONY \| Superfund Sites \| Subsidiaries
Site Contingency [Line Items]
Accrued liabilities	833	850
Regulatory assets	$ 840	$ 860

Leases - Future Minimum Lease Payments (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Operating Leases
2023	$ 84
2024	81
2025	82
2026	81
2027	81
All years thereafter	963
Total future minimum lease payments	1,372
Less: imputed interest	(469)
Total	903
Operating lease liabilities (current)	131	$ 113
Operating Lease, Liability, Noncurrent	772	717
Total	903
Finance Leases
2023	0
2024	1
2025	0
2026	0
2027	0
All years thereafter	1
Total future minimum lease payments	2
Less: imputed interest	$ 0
Finance lease, liability, noncurrent, statement of financial position	Deferred Credits and Other Liabilities, Noncurrent
Other noncurrent liabilities	$ 2
Total	2
Subsidiaries
Operating Leases
Operating lease liabilities (current)	99	90
Operating Lease, Liability, Noncurrent	523	$ 462
CECONY \| Subsidiaries
Operating Leases
2023	63
2024	62
2025	63
2026	63
2027	64
All years thereafter	472
Total future minimum lease payments	787
Less: imputed interest	(165)
Total	622
Operating lease liabilities (current)	99
Operating Lease, Liability, Noncurrent	523
Total	622
Finance Leases
2023	0
2024	1
2025	0
2026	0
2027	0
All years thereafter	0
Total future minimum lease payments	1
Less: imputed interest	$ 0
Finance lease, liability, noncurrent, statement of financial position	Deferred Credits and Other Liabilities, Noncurrent
Other noncurrent liabilities	$ 1
Total	$ 1

CONSOLIDATED BALANCE SHEET (UNAUDITED) (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Accounts receivable - customers, allowance for uncollectible accounts	$ 305	$ 317
Other receivables, allowance for uncollectible accounts	9	22
Non-utility property, accumulated depreciation	731	626
Intangible assets, accumulated amortization	$ 368	$ 297

Pension Benefits (Tables)

9 Months Ended

Sep. 30, 2022

Retirement Benefits [Abstract]

Total Periodic Benefit Costs

The components of the Companies’ total periodic benefit cost for the three and nine months ended September 30, 2022 and 2021 were as follows:


	For the Three Months Ended September 30,
	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Service cost – including administrative expenses	$72	$85	$67	$80
Interest cost on projected benefit obligation	126	118	119	111
Expected return on plan assets	(292)	(274)	(277)	(260)
Recognition of net actuarial loss	94	197	89	187
Recognition of prior service credit	(4)	(4)	(5)	(5)
TOTAL PERIODIC BENEFIT COST/(CREDIT)	$(4)	$122	$(7)	$113
Cost capitalized	(32)	(41)	(30)	(39)
Reconciliation to rate level	63	(54)	59	(52)
Total expense recognized	$27	$27	$22	$22


	For the Nine Months Ended September 30,
	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Service cost – including administrative expenses	$215	$257	$202	$241
Interest cost on projected benefit obligation	379	353	357	332
Expected return on plan assets	(876)	(822)	(832)	(779)
Recognition of net actuarial loss	283	590	268	559
Recognition of prior service credit	(12)	(12)	(15)	(15)
TOTAL PERIODIC BENEFIT COST/(CREDIT)	($11)	$366	($20)	$338
Cost capitalized	(100)	(120)	(95)	(113)
Reconciliation to rate level	192	(165)	182	(158)
Total expense recognized	$81	$81	$67	$67

The components of the Companies’ total periodic other postretirement benefit cost/(credit) for the three and nine months ended September 30, 2022 and 2021 were as follows:


	For the Three Months Ended September 30,
	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Service cost - including administrative expenses	$5	$2	$4	$1
Interest cost on projected other postretirement benefit obligation	8	7	8	6
Expected return on plan assets	(18)	(17)	(14)	(14)
Recognition of net actuarial loss/(gain)	(4)	4	(3)	3
TOTAL PERIODIC OTHER POSTRETIREMENT BENEFIT COST/(CREDIT)	$(9)	($4)	$(5)	$(4)
Cost capitalized	(2)	(3)	(2)	(3)
Reconciliation to rate level	7	7	6	6
Total credit recognized	$(4)	$—	$(1)	$(1)


	For the Nine Months Ended September 30,
	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Service cost - including administrative expenses	$14	$15	$11	$11
Interest cost on projected other postretirement benefit obligation	26	23	23	19
Expected return on plan assets	(54)	(51)	(43)	(41)
Recognition of net actuarial loss/(gain)	(11)	17	(7)	13
Recognition of prior service credit	(1)	(2)	—	(1)
TOTAL PERIODIC OTHER POSTRETIREMENT BENEFIT COST/(CREDIT)	$(26)	$2	$(16)	$1
Cost capitalized	(6)	(9)	(5)	(7)
Reconciliation to rate level	22	7	18	2
Total credit recognized	$(10)	$—	$(3)	$(4)

Material Contingencies (Tables)

9 Months Ended

Sep. 30, 2022

Commitments and Contingencies Disclosure [Abstract]

Summary of Total Guarantees

A summary, by type and term, of Con Edison's total guarantees under these agreements at September 30, 2022 is as follows:


Guarantee Type	0 – 3 years	4 – 10 years	> 10 years	Total
	(Millions of Dollars)
Con Edison Transmission	$442	$—	$—	$442
Energy transactions	493	22	292	807
Renewable electric projects	332	69	360	761
Other	222	—	—	222
Total	$1,489	$91	$652	$2,232

Other Postretirement Benefits - Periodic Postretirement Benefit Costs (Details) - Other Postretirement Benefits - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Defined Benefit Plan Disclosure [Line Items]
Service cost - including administrative expenses	$ 5	$ 2	$ 14	$ 15
Interest cost on projected other postretirement benefit obligation	8	7	26	23
Expected return on plan assets	(18)	(17)	(54)	(51)
Recognition of net actuarial loss/(gain)	(4)	4	(11)	17
Recognition of prior service credit			(1)	(2)
TOTAL PERIODIC OTHER POSTRETIREMENT BENEFIT COST/(CREDIT)	(9)	(4)	(26)	2
Cost capitalized	(2)	(3)	(6)	(9)
Reconciliation to rate level	7	7	22	7
Total credit recognized	(4)	0	(10)	0
CECONY \| Subsidiaries
Defined Benefit Plan Disclosure [Line Items]
Service cost - including administrative expenses	4	1	11	11
Interest cost on projected other postretirement benefit obligation	8	6	23	19
Expected return on plan assets	(14)	(14)	(43)	(41)
Recognition of net actuarial loss/(gain)	(3)	3	(7)	13
Recognition of prior service credit			0	(1)
TOTAL PERIODIC OTHER POSTRETIREMENT BENEFIT COST/(CREDIT)	(5)	(4)	(16)	1
Cost capitalized	(2)	(3)	(5)	(7)
Reconciliation to rate level	6	6	18	2
Total credit recognized	$ (1)	$ (1)	$ (3)	$ (4)

Regulatory Matters - Regulatory Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Regulatory Liabilities [Line Items]
Regulatory liabilities – noncurrent	$ 4,717	$ 4,381
Regulatory liabilities – current	568	185
Total Regulatory Liabilities	5,285	4,566
Subsidiaries
Regulatory Liabilities [Line Items]
Regulatory liabilities – noncurrent	4,215	3,921
Regulatory liabilities – current	486	134
Future income tax
Regulatory Liabilities [Line Items]
Regulatory liabilities – noncurrent	1,819	1,984
Allowance for cost of removal less salvage
Regulatory Liabilities [Line Items]
Regulatory liabilities – noncurrent	1,238	1,199
Unrecognized pension and other postretirement costs
Regulatory Liabilities [Line Items]
Regulatory liabilities – noncurrent	429	32
Net unbilled revenue deferrals
Regulatory Liabilities [Line Items]
Regulatory liabilities – noncurrent	126	209
Deferred derivative gains - long term
Regulatory Liabilities [Line Items]
Regulatory liabilities – noncurrent	152	61
Pension and other postretirement benefit deferrals
Regulatory Liabilities [Line Items]
Regulatory liabilities – noncurrent	130	102
2022 Late Payment Charge Deferral
Regulatory Liabilities [Line Items]
Regulatory liabilities – noncurrent	92	0
Net proceeds from sale of property
Regulatory Liabilities [Line Items]
Regulatory liabilities – noncurrent	78	103
System benefit charge carrying charge
Regulatory Liabilities [Line Items]
Regulatory liabilities – noncurrent	72	70
Property tax refunds
Regulatory Liabilities [Line Items]
Regulatory liabilities – noncurrent	37	35
TCJA net benefits
Regulatory Liabilities [Line Items]
Regulatory liabilities – noncurrent	30	125
Sales and use tax refunds
Regulatory Liabilities [Line Items]
Regulatory liabilities – noncurrent	28	17
BQDM and REV Demo reconciliations
Regulatory Liabilities [Line Items]
Regulatory liabilities – noncurrent	24	25
COVID-19 pandemic uncollectible reconciliation deferral
Regulatory Liabilities [Line Items]
Regulatory liabilities – noncurrent	20	0
Earnings sharing - electric, gas and steam
Regulatory Liabilities [Line Items]
Regulatory liabilities – noncurrent	13	13
Workers' compensation
Regulatory Liabilities [Line Items]
Regulatory liabilities – noncurrent	11	8
Settlement of prudence proceeding
Regulatory Liabilities [Line Items]
Regulatory liabilities – noncurrent	6	6
Energy efficiency portfolio standard unencumbered funds
Regulatory Liabilities [Line Items]
Regulatory liabilities – noncurrent	5	15
Settlement of gas proceedings
Regulatory Liabilities [Line Items]
Regulatory liabilities – noncurrent	4	12
Other
Regulatory Liabilities [Line Items]
Regulatory liabilities – noncurrent	403	365
Deferred derivative gains - short term
Regulatory Liabilities [Line Items]
Regulatory liabilities – current	521	142
Refundable energy costs
Regulatory Liabilities [Line Items]
Regulatory liabilities – current	34	32
Revenue decoupling mechanism
Regulatory Liabilities [Line Items]
Regulatory liabilities – current	13	11
CECONY \| Subsidiaries
Regulatory Liabilities [Line Items]
Regulatory liabilities – noncurrent	4,215	3,921
Regulatory liabilities – current	486	134
Total Regulatory Liabilities	4,701	4,055
CECONY \| Future income tax \| Subsidiaries
Regulatory Liabilities [Line Items]
Regulatory liabilities – noncurrent	1,681	1,840
CECONY \| Allowance for cost of removal less salvage \| Subsidiaries
Regulatory Liabilities [Line Items]
Regulatory liabilities – noncurrent	1,063	1,033
CECONY \| Unrecognized pension and other postretirement costs \| Subsidiaries
Regulatory Liabilities [Line Items]
Regulatory liabilities – noncurrent	368	0
CECONY \| Net unbilled revenue deferrals \| Subsidiaries
Regulatory Liabilities [Line Items]
Regulatory liabilities – noncurrent	126	209
CECONY \| Deferred derivative gains - long term \| Subsidiaries
Regulatory Liabilities [Line Items]
Regulatory liabilities – noncurrent	134	55
CECONY \| Pension and other postretirement benefit deferrals \| Subsidiaries
Regulatory Liabilities [Line Items]
Regulatory liabilities – noncurrent	85	55
CECONY \| 2022 Late Payment Charge Deferral \| Subsidiaries
Regulatory Liabilities [Line Items]
Regulatory liabilities – noncurrent	92	0
CECONY \| Net proceeds from sale of property \| Subsidiaries
Regulatory Liabilities [Line Items]
Regulatory liabilities – noncurrent	77	103
CECONY \| System benefit charge carrying charge \| Subsidiaries
Regulatory Liabilities [Line Items]
Regulatory liabilities – noncurrent	67	63
CECONY \| Property tax refunds \| Subsidiaries
Regulatory Liabilities [Line Items]
Regulatory liabilities – noncurrent	35	35
CECONY \| TCJA net benefits \| Subsidiaries
Regulatory Liabilities [Line Items]
Regulatory liabilities – noncurrent	29	123
CECONY \| Sales and use tax refunds \| Subsidiaries
Regulatory Liabilities [Line Items]
Regulatory liabilities – noncurrent	27	16
CECONY \| BQDM and REV Demo reconciliations \| Subsidiaries
Regulatory Liabilities [Line Items]
Regulatory liabilities – noncurrent	21	22
CECONY \| COVID-19 pandemic uncollectible reconciliation deferral \| Subsidiaries
Regulatory Liabilities [Line Items]
Regulatory liabilities – noncurrent	19	0
CECONY \| Earnings sharing - electric, gas and steam \| Subsidiaries
Regulatory Liabilities [Line Items]
Regulatory liabilities – noncurrent	10	10
CECONY \| Workers' compensation \| Subsidiaries
Regulatory Liabilities [Line Items]
Regulatory liabilities – noncurrent	11	8
CECONY \| Settlement of prudence proceeding \| Subsidiaries
Regulatory Liabilities [Line Items]
Regulatory liabilities – noncurrent	6	6
CECONY \| Energy efficiency portfolio standard unencumbered funds \| Subsidiaries
Regulatory Liabilities [Line Items]
Regulatory liabilities – noncurrent	7	19
CECONY \| Settlement of gas proceedings \| Subsidiaries
Regulatory Liabilities [Line Items]
Regulatory liabilities – noncurrent	4	12
CECONY \| Other \| Subsidiaries
Regulatory Liabilities [Line Items]
Regulatory liabilities – noncurrent	353	312
CECONY \| Deferred derivative gains - short term \| Subsidiaries
Regulatory Liabilities [Line Items]
Regulatory liabilities – current	482	132
CECONY \| Refundable energy costs \| Subsidiaries
Regulatory Liabilities [Line Items]
Regulatory liabilities – current	4	2
CECONY \| Revenue decoupling mechanism \| Subsidiaries
Regulatory Liabilities [Line Items]
Regulatory liabilities – current	$ 0	$ 0

Current Expected Credit Losses (Tables)

9 Months Ended

Sep. 30, 2022

Credit Loss [Abstract]

Rollforward of Allowance for Credit Losses

The table below presents a rollforward by major portfolio segment type for the three and nine months ended September 30, 2022 and 2021:


	For the Three Months Ended September 30,
	Con Edison				CECONY
	Accounts receivable - customers		Other receivables		Accounts receivable - customers		Other receivables
(Millions of Dollars)	2022	2021	2022	2021	2022	2021	2022	2021
Allowance for credit losses
Beginning Balance at July 1,	$336	$275	$9	$7	$324	$262	$7	$4
Recoveries	4	3	—	—	4	3	—	—
Write-offs	2	(24)	(2)	—	4	(23)	(1)	—
Reserve adjustments	(37)	59	2	—	(35)	58	1	1
Ending Balance September 30,	$305	$313	$9	$7	$297	$300	$7	$5


	For the Nine Months Ended September 30,
	Con Edison				CECONY
	Accounts receivable - customers		Other receivables		Accounts receivable - customers		Other receivables
(Millions of Dollars)	2022	2021	2022	2021	2022	2021	2022	2021
Allowance for credit losses
Beginning Balance at January 1,	$317	$148	$22	$7	$304	$138	$19	$4
Recoveries	13	9	—	—	12	8	—	—
Write-offs	(62)	(66)	(5)	(1)	(56)	(62)	(3)	—
Reserve adjustments	37	222	(8)	1	37	216	(9)	1
Ending Balance September 30,	$305	$313	$9	$7	$297	$300	$7	$5

Derivative Instruments and Hedging Activities - Additional Information (Details) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($)
Investment Holdings [Line Items]
Energy supply and hedging activities credit exposure total	$ 859
Makeup of net credit exposure independent system operators	110
Makeup of net credit exposure non-investment grade/non-rated counterparties	61
Makeup of net credit exposure with commodity exchange brokers	222
Makeup of net credit exposure with investment-grade counterparties	466
CECONY \| Subsidiaries
Investment Holdings [Line Items]
Energy supply and hedging activities credit exposure total	543
Makeup of net credit exposure with commodity exchange brokers	169
Makeup of net credit exposure with investment-grade counterparties	$ 374

Financial Information by Business Segment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Total revenues	$ 4,165	$ 3,613	$ 11,639	$ 10,261
Depreciation and amortization	525	512	1,593	1,511
Operating income/(loss)	889	850	2,074	2,129
Subsidiaries
Segment Reporting Information [Line Items]
Total revenues	3,549	3,092	9,972	8,784
Depreciation and amortization	441	429	1,341	1,267
Operating income/(loss)	738	728	1,729	1,836
Clean Energy Businesses
Segment Reporting Information [Line Items]
Depreciation and amortization	60	58	178	172
Operating income/(loss)	104	79	248	196
Con Edison Transmission
Segment Reporting Information [Line Items]
Depreciation and amortization	0	0	1	1
Operating income/(loss)	(2)	(2)	(8)	(7)
CECONY \| Subsidiaries
Segment Reporting Information [Line Items]
Depreciation and amortization	441	429	1,341	1,267
Operating income/(loss)	738	728	1,729	1,836
CECONY \| Electric \| Subsidiaries
Segment Reporting Information [Line Items]
Depreciation and amortization	324	324	994	959
Operating income/(loss)	843	834	1,233	1,337
CECONY \| Gas \| Subsidiaries
Segment Reporting Information [Line Items]
Depreciation and amortization	93	82	275	239
Operating income/(loss)	(40)	(48)	511	490
CECONY \| Steam
Segment Reporting Information [Line Items]
Operating income/(loss)			(15)
CECONY \| Steam \| Subsidiaries
Segment Reporting Information [Line Items]
Depreciation and amortization	24	23	72	69
Operating income/(loss)	(65)	(58)		9
O&R \| Subsidiaries
Segment Reporting Information [Line Items]
Depreciation and amortization	25	24	73	71
Operating income/(loss)	51	47	110	108
O&R \| Electric
Segment Reporting Information [Line Items]
Operating income/(loss)			85
O&R \| Electric \| Subsidiaries
Segment Reporting Information [Line Items]
Depreciation and amortization	18	18	53	52
Operating income/(loss)	61	55	85	78
O&R \| Gas
Segment Reporting Information [Line Items]
Operating income/(loss)			25
O&R \| Gas \| Subsidiaries
Segment Reporting Information [Line Items]
Depreciation and amortization	7	6	20	19
Operating income/(loss)	(10)	(8)	25	30
Operating segment
Segment Reporting Information [Line Items]
Total revenues	4,165	3,613	11,639	10,261
Operating segment \| Clean Energy Businesses
Segment Reporting Information [Line Items]
Total revenues	325	264	857	779
Operating segment \| Con Edison Transmission
Segment Reporting Information [Line Items]
Total revenues	1	1	3	3
Operating segment \| CECONY \| Subsidiaries
Segment Reporting Information [Line Items]
Total revenues	3,549	3,092	9,972	8,784
Operating segment \| CECONY \| Electric \| Subsidiaries
Segment Reporting Information [Line Items]
Total revenues	3,077	2,730	7,401	6,661
Operating segment \| CECONY \| Gas \| Subsidiaries
Segment Reporting Information [Line Items]
Total revenues	414	307	2,127	1,730
Operating segment \| CECONY \| Steam \| Subsidiaries
Segment Reporting Information [Line Items]
Total revenues	58	55	444	393
Operating segment \| O&R \| Subsidiaries
Segment Reporting Information [Line Items]
Total revenues	291	257	813	699
Operating segment \| O&R \| Electric \| Subsidiaries
Segment Reporting Information [Line Items]
Total revenues	252	223	594	522
Operating segment \| O&R \| Gas \| Subsidiaries
Segment Reporting Information [Line Items]
Total revenues	39	34	219	177
Other
Segment Reporting Information [Line Items]
Total revenues	(1)	(1)	(6)	(4)
Depreciation and amortization	(1)	1	0	0
Operating income/(loss)	(2)	(2)	(5)	(4)
Inter-segment \| CECONY \| Subsidiaries
Segment Reporting Information [Line Items]
Total revenues	(26)	(25)	(77)	(75)
Inter-segment \| CECONY \| Electric \| Subsidiaries
Segment Reporting Information [Line Items]
Total revenues	5	5	14	14
Inter-segment \| CECONY \| Gas \| Subsidiaries
Segment Reporting Information [Line Items]
Total revenues	2	2	6	6
Inter-segment \| CECONY \| Steam \| Subsidiaries
Segment Reporting Information [Line Items]
Total revenues	$ 19	$ 18	$ 57	$ 55

Related Party Transactions (Tables)

9 Months Ended

Sep. 30, 2022

Summary of Costs of Administrative and Other Services Provided and Received

The costs of administrative and other services provided by CECONY to, and received by it from, Con Edison and its other subsidiaries for the three months ended September 30, 2022 and 2021 were as follows:


	For the Three Months Ended September 30,
	CECONY
(Millions of Dollars)	2022	2021
Cost of services provided	$35	$34
Cost of services received	19	18


	For the Nine Months Ended September 30,
	CECONY
(Millions of Dollars)	2022	2021
Cost of services provided	$101	$100
Cost of services received	56	51

Leases

9 Months Ended

Sep. 30, 2022

Leases [Abstract]

Leases

Operating lease cost and cash paid for amounts included in the measurement of lease liabilities for the three and nine months ended September 30, 2022 and 2021 were as follows:


	For the Three Months Ended September 30,
	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Operating lease cost	$22	$22	$17	$16
Operating lease cash flows	$11	$10	$5	$6


	For the Nine Months Ended September 30,
	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Operating lease cost	$66	$65	$50	$49
Operating lease cash flows	$28	$26	$13	$15

As of September 30, 2022 and December 31, 2021, assets recorded as finance leases were $2 million for Con Edison and $1 million for CECONY, and the accumulated amortization associated with finance leases for Con Edison and CECONY were $4 million and $2 million, respectively.

For the three and nine months ended September 30, 2022 and 2021, finance lease costs and cash flows for Con Edison and CECONY were immaterial.

Right-of-use assets obtained in exchange for operating lease obligations for Con Edison and CECONY were $5 million and $3 million, respectively, for the three months ended September 30, 2022 and $76 million and $67 million, respectively, for the nine months ended September 30, 2022. Right-of-use assets obtained in exchange for operating lease obligations for Con Edison and CECONY were $15 million and $5 million, respectively, for the three months ended September 30, 2021 and $32 million and $7 million, respectively, for the nine months ended September 30, 2021.

Other information related to leases for Con Edison and CECONY at September 30, 2022 and December 31, 2021 were as follows:


	Con Edison		CECONY
	2022	2021	2022	2021
Weighted Average Remaining Lease Term:
Operating leases	18.2 years	18.5 years	12.6 years	12.1 years
Finance leases	7.2 years	7.1 years	2.5 years	3.1 years
Weighted Average Discount Rate:
Operating leases	4.3%	4.3%	3.7%	3.5%
Finance leases	1.9%	1.8%	1.0%	1.1%

Future minimum lease payments under non-cancellable leases at September 30, 2022 were as follows:


(Millions of Dollars)	Con Edison		CECONY
Year Ending September 30,	Operating Leases	Finance Leases	Operating Leases	Finance Leases
2023	$84	$—	$63	$—
2024	81	1	62	1
2025	82	—	63	—
2026	81	—	63	—
2027	81	—	64	—
All years thereafter	963	1	472	—
Total future minimum lease payments	$1,372	$2	$787	$1
Less: imputed interest	(469)	—	(165)	—
Total	$903	$2	$622	$1
Reported as of September 30, 2022
Operating lease liabilities (current)	$131	$—	$99	$—
Operating lease liabilities (noncurrent)	772	—	523	—
Other noncurrent liabilities	—	2	—	1
Total	$903	$2	$622	$1

At September 30, 2022, the Companies had an additional operating lease agreement that had not yet commenced, for a solar electric facility under construction by the Clean Energy Businesses, for which the present value of the

lease payments is $3 million. This lease is expected to commence within one year, with a lease term of approximately 40 years. The Companies are lessors under certain leases whereby the Companies own real estate and distribution poles and lease portions of them to others. Revenue under such leases was immaterial for Con Edison and CECONY for the three and nine months ended September 30, 2022 and 2021.

Leases

Operating lease cost and cash paid for amounts included in the measurement of lease liabilities for the three and nine months ended September 30, 2022 and 2021 were as follows:


	For the Three Months Ended September 30,
	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Operating lease cost	$22	$22	$17	$16
Operating lease cash flows	$11	$10	$5	$6


	For the Nine Months Ended September 30,
	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Operating lease cost	$66	$65	$50	$49
Operating lease cash flows	$28	$26	$13	$15

For the three and nine months ended September 30, 2022 and 2021, finance lease costs and cash flows for Con Edison and CECONY were immaterial.

Other information related to leases for Con Edison and CECONY at September 30, 2022 and December 31, 2021 were as follows:


	Con Edison		CECONY
	2022	2021	2022	2021
Weighted Average Remaining Lease Term:
Operating leases	18.2 years	18.5 years	12.6 years	12.1 years
Finance leases	7.2 years	7.1 years	2.5 years	3.1 years
Weighted Average Discount Rate:
Operating leases	4.3%	4.3%	3.7%	3.5%
Finance leases	1.9%	1.8%	1.0%	1.1%

Future minimum lease payments under non-cancellable leases at September 30, 2022 were as follows:


(Millions of Dollars)	Con Edison		CECONY
Year Ending September 30,	Operating Leases	Finance Leases	Operating Leases	Finance Leases
2023	$84	$—	$63	$—
2024	81	1	62	1
2025	82	—	63	—
2026	81	—	63	—
2027	81	—	64	—
All years thereafter	963	1	472	—
Total future minimum lease payments	$1,372	$2	$787	$1
Less: imputed interest	(469)	—	(165)	—
Total	$903	$2	$622	$1
Reported as of September 30, 2022
Operating lease liabilities (current)	$131	$—	$99	$—
Operating lease liabilities (noncurrent)	772	—	523	—
Other noncurrent liabilities	—	2	—	1
Total	$903	$2	$622	$1

Environmental Matters - Environmental Remediation Costs (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Environmental Exit Cost [Line Items]
Remediation costs incurred	$ 3	$ 7	$ 17	$ 21
CECONY \| Subsidiaries
Environmental Exit Cost [Line Items]
Remediation costs incurred	$ 3	$ 7	$ 16	$ 20

Summary of Significant Accounting Policies and Other Matters (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Reclassification	Reclassification Certain prior period amounts have been reclassified within the Companies' Consolidated Statements of Cash Flows and Consolidated Balance Sheets to conform with current period presentation.
Earnings Per Common Share	Earnings Per Common Share Con Edison presents basic and diluted earnings per share (EPS) on the face of its consolidated income statement. Basic EPS is calculated by dividing earnings available to common shareholders (“Net income for common stock” on Con Edison’s consolidated income statement) by the weighted average number of Con Edison common shares outstanding during the period. In the calculation of diluted EPS, weighted average shares outstanding are increased for additional shares that would be outstanding if potentially dilutive securities were converted to common stock. Potentially dilutive securities for Con Edison consist of restricted stock units and deferred stock units for which the average market price of the common shares for the period was greater than the estimated vesting price.
Fair Value Measurements	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.
New Financial Accounting Standards	New Financial Accounting Standards In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (ASU 2020-04). In 2017, the United Kingdom’s Financial Conduct Authority announced that it intends to stop persuading or compelling banks to submit the London Interbank Offered Rate (LIBOR), a benchmark interest rate referenced in a variety of agreements, after 2021. The United Kingdom's Financial Conduct Authority ceased publication of U.S. Dollar LIBOR after December 31, 2021 for one-week and two-month U.S. Dollar LIBOR tenors, and expects to cease publishing after June 30, 2023 for all other U.S. Dollar LIBOR tenors. ASU 2020-04 provides entities with optional expedients and exceptions for applying generally accepted accounting principles to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another reference rate expected to be discontinued. In January 2021, the FASB issued amendments to the guidance through ASU 2021-01 to include all contract modifications and hedging relationships affected by reference rate reform, including those that do not directly reference LIBOR or another reference rate expected to be discontinued, and clarify which optional expedients may be applied to them. As the Companies continue to modify contracts that contain references to LIBOR to allow for the use of an alternative rate, they have applied the practical expedient to not assess each change for a contract modification. The guidance can be applied prospectively. The optional relief is temporary and generally cannot be applied to contract modifications and hedging relationships entered into or evaluated after December 31, 2022. The Companies do not expect the new guidance to have a material impact on their financial position, results of operations or liquidity. In December 2021, the FASB issued amendments to the guidance on accounting for government assistance through ASU 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance. The amendments require that business entities disclose 1) the types of assistance, 2) an entity’s accounting for the assistance, and 3) the effect of the assistance on an entity’s financial statements. For public entities, the amendments are effective for reporting periods beginning after December 15, 2021. Early adoption is permitted. The Companies have concluded the new guidance will not have a material impact on the Companies’ financial position, results of operations and liquidity.

CONSOLIDATED STATEMENT OF EQUITY (UNAUDITED) - CECONY - USD ($) shares in Millions, $ in Millions	Total	Subsidiaries	Common Stock	Common Stock Subsidiaries	Additional Paid-In Capital Subsidiaries	Retained Earnings	Retained Earnings Subsidiaries	Repurchased Con Edison Stock Subsidiaries	Capital Stock Expense Subsidiaries	Accumulated Other Comprehensive Income/(Loss)	Accumulated Other Comprehensive Income/(Loss) Subsidiaries
Beginning balance (shares) at Dec. 31, 2020			342	235
Beginning Balance at Dec. 31, 2020		$ 14,849		$ 589	$ 6,169		$ 9,122	$ (962)	$ (62)		$ (7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		465					465
Common stock dividend to parent	$ (265)	(247)				$ (265)	(247)
Capital contribution by parent		125			125
Other comprehensive income	4									$ 4
Ending balance (shares) at Mar. 31, 2021			342	235
Ending Balance at Mar. 31, 2021		15,192		$ 589	6,294		9,340	(962)	(62)		(7)
Beginning balance (shares) at Dec. 31, 2020			342	235
Beginning Balance at Dec. 31, 2020		14,849		$ 589	6,169		9,122	(962)	(62)		(7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,122	1,011
Other comprehensive income	8
Ending balance (shares) at Sep. 30, 2021			354	235
Ending Balance at Sep. 30, 2021		16,220		$ 589	7,270		9,392	(962)	(62)		(7)
Beginning balance (shares) at Mar. 31, 2021			342	235
Beginning Balance at Mar. 31, 2021		15,192		$ 589	6,294		9,340	(962)	(62)		(7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		128					128
Common stock dividend to parent	(266)	(247)				(266)	(247)
Capital contribution by parent		851			851
Other comprehensive income	2									2
Ending balance (shares) at Jun. 30, 2021			353	235
Ending Balance at Jun. 30, 2021		15,924		$ 589	7,145		9,221	(962)	(62)		(7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	538	418					418
Common stock dividend to parent	(274)	(247)				(274)	(247)
Capital contribution by parent		125			125
Other comprehensive income	2									2
Ending balance (shares) at Sep. 30, 2021			354	235
Ending Balance at Sep. 30, 2021		16,220		$ 589	7,270		9,392	(962)	(62)		(7)
Beginning balance (shares) at Dec. 31, 2021			354	235
Beginning Balance at Dec. 31, 2021	20,037	16,312		$ 589	7,269		9,478	(962)	(62)		0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		475					475
Common stock dividend to parent	(280)	(245)				(280)	(245)
Capital contribution by parent		75			75
Other comprehensive income		1									1
Ending balance (shares) at Mar. 31, 2022			354	235
Ending Balance at Mar. 31, 2022		16,618		$ 589	7,344		9,708	(962)	(62)		1
Beginning balance (shares) at Dec. 31, 2021			354	235
Beginning Balance at Dec. 31, 2021	20,037	16,312		$ 589	7,269		9,478	(962)	(62)		0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,470	1,138
Other comprehensive income	6
Ending balance (shares) at Sep. 30, 2022			355	235
Ending Balance at Sep. 30, 2022	20,748	16,867		$ 589	7,419		9,882	(962)	(62)		1
Beginning balance (shares) at Mar. 31, 2022			354	235
Beginning Balance at Mar. 31, 2022		16,618		$ 589	7,344		9,708	(962)	(62)		1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		170					170
Common stock dividend to parent	(280)	(245)				(280)	(245)
Capital contribution by parent		25			25
Other comprehensive income	5									5
Ending balance (shares) at Jun. 30, 2022			354	235
Ending Balance at Jun. 30, 2022		16,568		$ 589	7,369		9,633	(962)	(62)		1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	613	493					493
Common stock dividend to parent	(280)	(244)				$ (280)	(244)
Capital contribution by parent		50			50
Other comprehensive income	1									$ 1
Ending balance (shares) at Sep. 30, 2022			355	235
Ending Balance at Sep. 30, 2022	$ 20,748	$ 16,867		$ 589	$ 7,419		$ 9,882	$ (962)	$ (62)		$ 1

- Definition

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

+ References

+ Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

Pension Benefits - Total Periodic Benefit Costs (Details) - Pension Benefits - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Defined Benefit Plan Disclosure [Line Items]
Service cost – including administrative expenses	$ 72	$ 85	$ 215	$ 257
Interest cost on projected benefit obligation	126	118	379	353
Expected return on plan assets	(292)	(274)	(876)	(822)
Recognition of net actuarial loss	94	197	283	590
Recognition of prior service credit	(4)	(4)	(12)	(12)
TOTAL PERIODIC BENEFIT COST/(CREDIT)	(4)	122	(11)	366
Cost capitalized	(32)	(41)	(100)	(120)
Reconciliation to rate level	63	(54)	192	(165)
Total credit recognized	27	27	81	81
CECONY \| Subsidiaries
Defined Benefit Plan Disclosure [Line Items]
Service cost – including administrative expenses	67	80	202	241
Interest cost on projected benefit obligation	119	111	357	332
Expected return on plan assets	(277)	(260)	(832)	(779)
Recognition of net actuarial loss	89	187	268	559
Recognition of prior service credit	(5)	(5)	(15)	(15)
TOTAL PERIODIC BENEFIT COST/(CREDIT)	(7)	113	(20)	338
Cost capitalized	(30)	(39)	(95)	(113)
Reconciliation to rate level	59	(52)	182	(158)
Total credit recognized	$ 22	$ 22	$ 67	$ 67

CONSOLIDATED BALANCE SHEET (UNAUDITED) - CECONY (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Accounts receivable - customers, allowance for uncollectible accounts	$ 305	$ 317
Other receivables, allowance for uncollectible accounts	9	22
Non-utility property, accumulated depreciation	731	626
Subsidiaries
Accounts receivable - customers, allowance for uncollectible accounts	297	304
Other receivables, allowance for uncollectible accounts	7	19
Non-utility property, accumulated depreciation	$ 25	$ 25

Leases - Lease Cost and Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Lessee, Lease, Description [Line Items]
Operating lease cost	$ 22	$ 22	$ 66	$ 65
Operating lease cash flows	11	10	28	26
CECONY \| Subsidiaries
Lessee, Lease, Description [Line Items]
Operating lease cost	17	16	50	49
Operating lease cash flows	$ 5	$ 6	$ 13	$ 15

Related Party Transactions - Summary of Costs of Administrative and Other Services Provided and Received (Details) - CECONY - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Related Party Transaction [Line Items]
Cost of services provided	$ 35	$ 34	$ 101	$ 100
Cost of services received	$ 19	$ 18	$ 56	$ 51

- Definition

Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Pension Benefits - Additional Information (Details) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($)
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Estimated future employer contributions	$ 31
Contributions	25
CECONY \| Pension Benefits \| Subsidiaries
Defined Benefit Plan Disclosure [Line Items]
Estimated future employer contributions	18
Contributions	13
CECONY \| External Trust \| Subsidiaries
Defined Benefit Plan Disclosure [Line Items]
Contributions	$ 17

- Definition

Amount of contribution received by defined benefit plan from employer which increases plan assets.

+ References + Details

Income Tax (Tables)

9 Months Ended

Sep. 30, 2022

Income Tax Disclosure [Abstract]

Schedule of Income Tax Reconciliation


	Con Edison				CECONY
(% of Pre-tax income)	2022		2021		2022		2021
STATUTORY TAX RATE
Federal	21	%	21	%	21	%	21	%
Changes in computed taxes resulting from:
State income tax, net of federal income tax benefit	6		5		5		5
Amortization of excess deferred federal income taxes	(6)		(7)		(7)		(8)
Taxes attributable to non-controlling interest	—		4		—		—
Cost of removal	1		1		1		1
Other plant-related items	—		(1)		—		(1)
Renewable energy credits	(1)		(1)		—		—
Allowance for uncollectible accounts, net of COVID-19 assistance	—		—		1		—
Injuries and damages reserve	—		—		—		1


Prior period federal income tax return adjustments	—		(1)		—		(1)


Other	—		—		(1)		—
Effective tax rate	21	%	21	%	20	%	18	%


	Con Edison				CECONY
(% of Pre-tax income)	2022		2021		2022		2021
STATUTORY TAX RATE
Federal	21	%	21	%	21	%	21	%
Changes in computed taxes resulting from:
State income tax, net of federal income tax benefit	6		5		5		5
Amortization of excess deferred federal income taxes	(8)		(11)		(10)		(11)
Taxes attributable to non-controlling interest	1		3		—		—
Cost of removal	1		2		2		2
Other plant-related items	—		(1)		(1)		(1)
Renewable energy credits	(2)		(2)		—		—








Other	—		(1)		—		—
Effective tax rate	19	%	16	%	17	%	16	%

Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Offsetting of Liabilities

The fair values of the Companies’ derivatives including the offsetting of assets and liabilities on the consolidated balance sheet at September 30, 2022 and December 31, 2021 were:


(Millions of Dollars)	2022				2021
Balance Sheet Location	Gross Amounts of Recognized Assets/(Liabilities)	Gross Amounts Offset	Net Amounts of Assets/ (Liabilities) (a)		Gross Amounts of Recognized Assets/(Liabilities)	Gross Amounts Offset	Net Amounts of Assets/ (Liabilities) (a)
Con Edison
Fair value of derivative assets
Current	$667	$(415)	$252	(b)(c)	$285	$(158)	$127	(b)
Noncurrent	303	(53)	250	(c)	90	(13)	77	(d)
Total fair value of derivative assets	$970	$(468)	$502		$375	$(171)	$204
Fair value of derivative liabilities
Current	$(212)	$142	$(70)	(b)	$(289)	$137	$(152)	(d)
Noncurrent	(68)	37	(31)		(94)	10	(84)	(d)
Total fair value of derivative liabilities	$(280)	$179	$(101)		$(383)	$147	$(236)
Net fair value derivative assets/(liabilities)	$690	($289)	$401		$(8)	$(24)	$(32)
CECONY
Fair value of derivative assets
Current	$521	$(335)	$186	(b)	$135	$(64)	$71	(b)
Noncurrent	181	(45)	136		71	(15)	56
Total fair value of derivative assets	$702	$(380)	$322		$206	$(79)	$127
Fair value of derivative liabilities
Current	$(134)	$84	$(50)		$(131)	$43	$(88)
Noncurrent	(50)	35	(15)		(50)	10	(40)
Total fair value of derivative liabilities	$(184)	$119	$(65)		$(181)	$53	$(128)
Net fair value derivative assets/(liabilities)	$518	$(261)	$257		$25	$(26)	$(1)

(a)Derivative instruments and collateral were offset on the consolidated balance sheet as applicable under the accounting rules. The Companies enter into master agreements for their commodity derivatives. These agreements typically provide offset in the event of contract termination. In such case, generally the non-defaulting party’s payable will be offset by the defaulting 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.

(b)At September 30, 2022, margin deposits for Con Edison ($4 million and an immaterial amount) were classified as derivative assets and derivative liabilities, respectively, and for CECONY $4 million was classified as derivative assets on the consolidated balance sheet, but not included in the table. At December 31, 2021 margin deposits for Con Edison and CECONY of $1 million and an immaterial amount, respectively, were classified as derivative assets on the consolidated balance sheet, but not included in the table. Margin is collateral, typically cash, that the holder of a derivative instrument is required to deposit in order to transact on an exchange and to cover its potential losses with its broker or the exchange.

(c)Includes amounts for interest rate swaps of $21 million in current assets and $84 million in noncurrent assets. At September 30, 2022, the Clean Energy Businesses had interest rate swaps with notional amounts of $996 million. The expiration dates of the swaps range from 2025-2041.

(d)Includes amounts for interest rate swaps of $4 million in noncurrent assets, $(20) million in current liabilities and $(38) million in noncurrent liabilities. At December 31, 2021, the Clean Energy Businesses had interest rate swaps with notional amounts of $1,031 million. The expiration dates of the swaps ranged from 2025-2041.

Offsetting of Assets

The fair values of the Companies’ derivatives including the offsetting of assets and liabilities on the consolidated balance sheet at September 30, 2022 and December 31, 2021 were:


(Millions of Dollars)	2022				2021
Balance Sheet Location	Gross Amounts of Recognized Assets/(Liabilities)	Gross Amounts Offset	Net Amounts of Assets/ (Liabilities) (a)		Gross Amounts of Recognized Assets/(Liabilities)	Gross Amounts Offset	Net Amounts of Assets/ (Liabilities) (a)
Con Edison
Fair value of derivative assets
Current	$667	$(415)	$252	(b)(c)	$285	$(158)	$127	(b)
Noncurrent	303	(53)	250	(c)	90	(13)	77	(d)
Total fair value of derivative assets	$970	$(468)	$502		$375	$(171)	$204
Fair value of derivative liabilities
Current	$(212)	$142	$(70)	(b)	$(289)	$137	$(152)	(d)
Noncurrent	(68)	37	(31)		(94)	10	(84)	(d)
Total fair value of derivative liabilities	$(280)	$179	$(101)		$(383)	$147	$(236)
Net fair value derivative assets/(liabilities)	$690	($289)	$401		$(8)	$(24)	$(32)
CECONY
Fair value of derivative assets
Current	$521	$(335)	$186	(b)	$135	$(64)	$71	(b)
Noncurrent	181	(45)	136		71	(15)	56
Total fair value of derivative assets	$702	$(380)	$322		$206	$(79)	$127
Fair value of derivative liabilities
Current	$(134)	$84	$(50)		$(131)	$43	$(88)
Noncurrent	(50)	35	(15)		(50)	10	(40)
Total fair value of derivative liabilities	$(184)	$119	$(65)		$(181)	$53	$(128)
Net fair value derivative assets/(liabilities)	$518	$(261)	$257		$25	$(26)	$(1)

Realized and Unrealized Gains or Losses on Commodity Derivatives

The following table presents the realized and unrealized gains or losses on derivatives that have been deferred or recognized in earnings for the three and nine months ended September 30, 2022 and 2021:


		For the Three Months Ended September 30,
		Con Edison		CECONY
(Millions of Dollars)	Balance Sheet Location	2022	2021	2022	2021
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Current	Deferred derivative gains	$31	$296	$30	$279
Noncurrent	Deferred derivative gains	23	70	17	66
Total deferred gains/(losses)		$54	$366	$47	$345
Current	Deferred derivative losses	$41	$(4)	$37	$(3)
Current	Recoverable energy costs	168	17	152	13
Noncurrent	Deferred derivative losses	49	(61)	45	(55)
Total deferred gains/(losses)		$258	$(48)	$234	$(45)
Net deferred gains/(losses)		$312	$318	$281	$300
	Income Statement Location
Pre-tax gains/(losses) recognized in income
	Gas purchased for resale	$(2)	$2	$—	$—
	Non-utility revenue	(1)	(23)	—	—
	Other operations and maintenance expense	(1)	1	(1)	1
	Other interest expense (a)	49	11	—	—
Total pre-tax gains/(losses) recognized in income		$45	$(9)	($1)	$1

(a)See (b) below.


		For the Nine Months Ended September 30,
		Con Edison		CECONY
(Millions of Dollars)	Balance Sheet Location	2022	2021	2022	2021
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Current	Deferred derivative gains	$379	$443	$350	$415
Noncurrent	Deferred derivative gains	91	106	79	97
Total deferred gains/(losses)		$470	$549	$429	$512
Current	Deferred derivative losses	$50	$25	$45	$22
Current	Recoverable energy costs	357	(30)	324	(29)
Noncurrent	Deferred derivative losses	19	(16)	18	(13)
Total deferred gains/(losses)		$426	$(21)	$387	$(20)
Net deferred gains/(losses) (a)		$896	$528	$816	$492
	Income Statement Location
Pre-tax gains/(losses) recognized in income
	Gas purchased for resale	$1	$4	$—	$—
	Non-utility revenue	(23)	(22)	—	—
	Other operations and maintenance expense	4	5	4	5
	Other interest expense (b)	158	45	—	—
Total pre-tax gains/(losses) recognized in income		$140	$32	$4	$5

(a)Unrealized net deferred gains on electric and gas derivatives for the Utilities increased as a result of higher electric and gas commodity prices during the nine months ended September 30, 2022. Upon settlement, short-term deferred derivative gains generally reduce the recoverable costs of electric and gas purchases.

(b)Gains recognized in other interest expense relate to interest rate swaps at the Clean Energy Businesses. The gains recognized are consistent with the increasing interest rate environment in 2022.

Hedged Volume of Derivative Transactions

The following table presents the hedged volume of Con Edison’s and CECONY’s commodity derivative transactions at September 30, 2022:


	Electric Energy (MWh) (a)(b)	Capacity (MW) (a)	Natural Gas (Dt) (a)(b)	Refined Fuels (gallons)
Con Edison	29,387,725	36,037	289,274,503	672,000
CECONY	27,281,075	22,350	272,830,000	672,000

(a)Volumes are reported net of long and short positions, except natural gas collars where the volumes of long positions are reported.

(b)Excludes electric congestion and gas basis swap contracts, which are associated with electric and gas contracts and hedged volumes.

Aggregate Fair Value of Companies' Derivative Instruments with Credit-Risk-Related Contingent Features

The following table presents the aggregate fair value of the Companies’ derivative instruments with credit-risk-related contingent features that are in a net liability position, the collateral posted for such positions 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 at September 30, 2022:


(Millions of Dollars)	Con Edison (a)	CECONY (a)
Aggregate fair value – net liabilities	$116	$55
Collateral posted	100	100
Additional collateral (b) (downgrade one level from current ratings)	25	—
Additional collateral (b)(c) (downgrade to below investment grade from current ratings)	59	20

(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 the Clean Energy Businesses were no longer extended unsecured credit for such purchases, the Companies would be required to post $6 million of additional collateral at September 30, 2022. 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 liability 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 to offset.

(c)Derivative instruments that are net assets have been excluded from the table. At September 30, 2022, if Con Edison had been downgraded to below investment grade, it would have been required to post additional collateral for such derivative instruments of $96 million.

- 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.

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+ Details

Summary of Significant Accounting Policies and Other Matters (Tables)

9 Months Ended

Sep. 30, 2022

Accounting Policies [Abstract]

Basic and Diluted Earnings Per Share

For the three and nine months ended September 30, 2022 and 2021, basic and diluted EPS for Con Edison are calculated as follows:


	For the Three Months Ended September 30,		For the Nine Months Ended September 30,
(Millions of Dollars, except per share amounts/Shares in Millions)	2022	2021	2022	2021
Net income for common stock	$613	$538	$1,470	$1,122
Weighted average common shares outstanding – basic	354.6	353.4	354.4	346.8
Add: Incremental shares attributable to effect of potentially dilutive securities	1.3	0.7	1.3	0.7
Adjusted weighted average common shares outstanding – diluted	355.9	354.1	355.7	347.5
Net Income per common share – basic	$1.73	$1.52	$4.15	$3.23
Net Income per common share – diluted	$1.72	$1.52	$4.13	$3.23

Changes in Accumulated Other Comprehensive Income/(Loss)

For the three and nine months ended September 30, 2022 and 2021, changes to accumulated other comprehensive income/(loss) (OCI) for Con Edison and CECONY are as follows:


	For the Three Months Ended September 30,
	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Beginning balance, accumulated OCI, net of taxes (a)	$10	$(19)	$1	$(7)

Amounts reclassified from accumulated OCI related to pension plan liabilities, net of tax $(1) for Con Edison in 2021 (a)(b)	1	2	—	—
Current period OCI, net of taxes	1	2	—	—
Ending balance, accumulated OCI, net of taxes (a)	$11	$(17)	$1	$(7)

(a) Tax reclassified from accumulated OCI is reported in the income tax expense line item of the consolidated income statement.

(b)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 and liabilities instead of OCI. The net actuarial losses and prior service costs recognized during the period are included in the computation of total periodic pension and other postretirement benefit costs. See Notes E and F.


	For the Nine Months Ended September 30,
	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Beginning balance, accumulated OCI, net of taxes (a)	$5	$(25)	$—	$(7)
OCI before reclassifications, net of tax of $(1) for Con Edison in 2022 and 2021	4	2	—	—
Amounts reclassified from accumulated OCI related to pension plan liabilities, net of tax of $(1) and $(2) for Con Edison in 2022 and 2021, respectively (a)(b)	2	6	1	—
Current period OCI, net of taxes	6	8	1	—
Ending balance, accumulated OCI, net of taxes (a)	$11	$(17)	$1	$(7)

(a) Tax reclassified from accumulated OCI is reported in the income tax expense line item of the consolidated income statement.

Restrictions on Cash and Cash Equivalents

At September 30, 2022 and 2021, cash, temporary cash investments and restricted cash for Con Edison and CECONY were as follows:


	At September 30,
	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Cash and temporary cash investments	$78	$66	$25	$18
Restricted cash (a)	163	149	—	—
Total cash, temporary cash investments and restricted cash	$241	$215	$25	$18

(a)Restricted cash included cash of the Clean Energy Businesses' renewable electric project subsidiaries ($163 million and $149 million at September 30, 2022 and 2021, respectively) that, under the related project debt agreements, is restricted to being used for normal operating expenditures, debt service, and required reserves until the various maturity dates of the project debt.

Schedule of Cash and Cash Equivalents

At September 30, 2022 and 2021, cash, temporary cash investments and restricted cash for Con Edison and CECONY were as follows:


	At September 30,
	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Cash and temporary cash investments	$78	$66	$25	$18
Restricted cash (a)	163	149	—	—
Total cash, temporary cash investments and restricted cash	$241	$215	$25	$18

Revenue Recognition - Change in Unbilled Contract and Unearned Revenues (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Jan. 01, 2022	Jan. 01, 2021
Unbilled contract revenue
Beginning balance	$ 35	$ 11
Additions	103	174
Subtractions	81	127
Ending balance	57	58
Unearned revenue
Beginning balance	7	41
Additions	0	0
Subtractions	4	31
Ending balance	$ 3	$ 10
Contracts with customer, revenue recognized, amount outstanding end of last period			$ 4	$ 31

Income Tax - Income Tax Reconciliation (Details)	3 Months Ended		9 Months Ended
Income Tax - Income Tax Reconciliation (Details)	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
STATUTORY TAX RATE
Federal	21.00%	21.00%	21.00%	21.00%
Changes in computed taxes resulting from:
State income tax, net of federal income tax benefit	6.00%	5.00%	6.00%	5.00%
Amortization of excess deferred federal income taxes	(6.00%)	(7.00%)	(8.00%)	(11.00%)
Taxes attributable to non-controlling interest	0.00%	4.00%	1.00%	3.00%
Cost of removal	1.00%	1.00%	1.00%	2.00%
Other plant-related items	0.00%	(1.00%)	0.00%	(1.00%)
Renewable energy credits	(1.00%)	(1.00%)	(2.00%)	(2.00%)
Allowance for uncollectible accounts, net of COVID-19 assistance	0.00%	0.00%
Injuries and damages reserve	0.00%	0.00%
Prior period federal income tax return adjustments	0.00%	(1.00%)
Other	0.00%	0.00%	0.00%	(1.00%)
Effective tax rate	21.00%	21.00%	19.00%	16.00%
CECONY
Changes in computed taxes resulting from:
Prior period federal income tax return adjustments	0.00%	(1.00%)
CECONY \| Subsidiaries
STATUTORY TAX RATE
Federal	21.00%	21.00%	21.00%	21.00%
Changes in computed taxes resulting from:
State income tax, net of federal income tax benefit	5.00%	5.00%	5.00%	5.00%
Amortization of excess deferred federal income taxes	(7.00%)	(8.00%)	(10.00%)	(11.00%)
Taxes attributable to non-controlling interest	0.00%	0.00%	0.00%	0.00%
Cost of removal	1.00%	1.00%	2.00%	2.00%
Other plant-related items	0.00%	(1.00%)	(1.00%)	(1.00%)
Renewable energy credits	0.00%	0.00%	0.00%	0.00%
Allowance for uncollectible accounts, net of COVID-19 assistance	1.00%	0.00%
Injuries and damages reserve	0.00%	1.00%
Other	(1.00%)	0.00%	0.00%	0.00%
Effective tax rate	20.00%	18.00%	17.00%	16.00%

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
NET INCOME	$ 619	$ 469	$ 1,427	$ 1,007
(INCOME) LOSS ATTRIBUTABLE TO NON-CONTROLLING INTEREST	(6)	69	43	115
OTHER COMPREHENSIVE INCOME, NET OF TAXES
Pension and other postretirement benefit plan liability adjustments, net of taxes	1	2	6	8
TOTAL OTHER COMPREHENSIVE INCOME, NET OF TAXES	1	2	6	8
COMPREHENSIVE INCOME	$ 614	$ 540	$ 1,476	$ 1,130

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

+ Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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+ Details

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	$ 4,162	$ 3,659	$ 11,503	$ 10,212
Total revenues	4,165	3,613	11,639	10,261
Subsidiaries
Disaggregation of Revenue [Line Items]
Total revenues	3,549	3,092	9,972	8,784
Other
Disaggregation of Revenue [Line Items]
Total revenues	3	(46)	136	49
Operating Segments
Disaggregation of Revenue [Line Items]
Total revenues	4,165	3,613	11,639	10,261
Operating Segments \| Clean Energy Businesses
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	247	264	637	713
Total revenues	325	264	857	779
Operating Segments \| Clean Energy Businesses \| Other
Disaggregation of Revenue [Line Items]
Total revenues	78	0	220	66
Operating Segments \| Clean Energy Businesses \| Renewables
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	197	185	524	519
Total revenues	197	185	524	519
Operating Segments \| Clean Energy Businesses \| Renewables \| Other
Disaggregation of Revenue [Line Items]
Total revenues	0	0	0	0
Operating Segments \| Clean Energy Businesses \| Energy services
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	13	65	57	168
Total revenues	13	65	57	168
Operating Segments \| Clean Energy Businesses \| Energy services \| Other
Disaggregation of Revenue [Line Items]
Total revenues	0	0	0	0
Operating Segments \| Clean Energy Businesses \| Develop/Transfer Projects
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	37	14	56	26
Total revenues	37	14	56	26
Operating Segments \| Clean Energy Businesses \| Develop/Transfer Projects \| Other
Disaggregation of Revenue [Line Items]
Total revenues	0	0	0	0
Operating Segments \| Clean Energy Businesses \| Other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Total revenues	78	0	220	66
Operating Segments \| Clean Energy Businesses \| Other \| Other
Disaggregation of Revenue [Line Items]
Total revenues	78	0	220	66
Operating Segments \| Con Edison Transmission
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	1	1	3	3
Total revenues	1	1	3	3
Operating Segments \| Con Edison Transmission \| Other
Disaggregation of Revenue [Line Items]
Total revenues	0	0	0	0
Operating Segments \| CECONY \| Subsidiaries
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	3,629	3,133	10,051	8,777
Total revenues	3,549	3,092	9,972	8,784
Operating Segments \| CECONY \| Other \| Subsidiaries
Disaggregation of Revenue [Line Items]
Total revenues	(80)	(41)	(79)	7
Operating Segments \| CECONY \| Electric \| Subsidiaries
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	3,165	2,776	7,525	6,695
Total revenues	3,077	2,730	7,401	6,661
Operating Segments \| CECONY \| Electric \| Other \| Subsidiaries
Disaggregation of Revenue [Line Items]
Total revenues	(88)	(46)	(124)	(34)
Operating Segments \| CECONY \| Gas \| Subsidiaries
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	409	305	2,090	1,699
Total revenues	414	307	2,127	1,730
Operating Segments \| CECONY \| Gas \| Other \| Subsidiaries
Disaggregation of Revenue [Line Items]
Total revenues	5	2	37	31
Operating Segments \| CECONY \| Steam \| Subsidiaries
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	55	52	436	383
Total revenues	58	55	444	393
Operating Segments \| CECONY \| Steam \| Other \| Subsidiaries
Disaggregation of Revenue [Line Items]
Total revenues	3	3	8	10
Operating Segments \| O&R \| Subsidiaries
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	285	261	812	719
Total revenues	291	257	813	699
Operating Segments \| O&R \| Other \| Subsidiaries
Disaggregation of Revenue [Line Items]
Total revenues	6	(4)	1	(20)
Operating Segments \| O&R \| Electric \| Subsidiaries
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	256	229	595	535
Total revenues	252	223	594	522
Operating Segments \| O&R \| Electric \| Other \| Subsidiaries
Disaggregation of Revenue [Line Items]
Total revenues	(4)	(6)	(1)	(13)
Operating Segments \| O&R \| Gas \| Subsidiaries
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	29	32	217	184
Total revenues	39	34	219	177
Operating Segments \| O&R \| Gas \| Other \| Subsidiaries
Disaggregation of Revenue [Line Items]
Total revenues	10	2	2	(7)
Other
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	0	0	0	0
Total revenues	(1)	(1)	(6)	(4)
Other \| Other
Disaggregation of Revenue [Line Items]
Total revenues	$ (1)	$ (1)	$ (6)	$ (4)

Summary of Significant Accounting Policies and Other Matters - Reconciliation of Cash, Temporary Investments and Restricted Cash (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
Cash and Cash Equivalents [Line Items]
Cash and temporary cash investments	$ 78	$ 992	$ 66
Restricted cash	163	154	149
Total cash, temporary cash investments and restricted cash	241	1,146	215	$ 1,436
Subsidiaries
Cash and Cash Equivalents [Line Items]
Cash and temporary cash investments	25	920	18
Restricted cash	0		0
Total cash, temporary cash investments and restricted cash	25	$ 920	18	$ 1,067
CEB \| Cash Collateral Held for Project Finance Agreements
Cash and Cash Equivalents [Line Items]
Restricted cash	$ 163		$ 149

Material Contingencies

9 Months Ended

Sep. 30, 2022

Commitments and Contingencies Disclosure [Abstract]

Material Contingencies

Manhattan Explosion and Fire

On March 12, 2014, two multi-use five-story tall buildings located on Park Avenue between 116th and 117th Streets 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 50 people were injured. Additional buildings were also damaged. The National Transportation Safety Board (NTSB) investigated. The parties to the investigation included the company, the City of New York, the Pipeline and Hazardous Materials Safety Administration and the NYSPSC. In June 2015, the NTSB issued a final report concerning the incident, its probable cause and safety recommendations. The NTSB determined that the probable cause of the incident was (1) the failure of a defective fusion joint at a service tee (which joined a plastic service line to a plastic distribution main) installed by the company that allowed gas to leak from the distribution main and migrate into a building where it ignited and (2) a breach in a city sewer line that allowed groundwater and soil to flow into the sewer, resulting in a loss of support for the distribution main, which caused it to sag and overstressed the defective fusion joint. The NTSB also made safety recommendations, including recommendations to the company that addressed its procedures for the preparation and examination of plastic fusions, training of its staff on conditions for notifications to the city’s Fire Department and extension of its gas main isolation valve installation program. In February 2017, the NYSPSC approved a settlement agreement with the company related to the NYSPSC's investigations of the incident and the practices of qualifying persons to perform plastic fusions. Pursuant to the agreement, the company is providing $27 million of future benefits to customers (for which it has accrued a regulatory liability) and will not recover from customers $126 million of costs for gas emergency response activities that it had previously incurred and expensed. Approximately eighty suits are pending against the company seeking generally unspecified damages and, in some cases, punitive damages, for wrongful death, personal injury, property damage and business interruption. The company 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. During 2020, the company accrued its estimated liability for the suits of $40 million and an insurance receivable in the same amount, which estimated liability did not change as of September 30, 2022.

Other Contingencies

For additional contingencies, see "COVID-19 Regulatory Matters" and "Other Regulatory Matters" in Note B, Note G and “Uncertain Tax Positions” in Note J.

Guarantees

Con Edison and its subsidiaries have entered into various agreements providing financial or performance assurance primarily to third parties on behalf of their subsidiaries. Maximum amounts guaranteed by Con Edison and its subsidiaries under these agreements totaled $2,232 million and $2,157 million at September 30, 2022 and December 31, 2021, respectively.

A summary, by type and term, of Con Edison's total guarantees under these agreements at September 30, 2022 is as follows:


Guarantee Type	0 – 3 years	4 – 10 years	> 10 years	Total
	(Millions of Dollars)
Con Edison Transmission	$442	$—	$—	$442
Energy transactions	493	22	292	807
Renewable electric projects	332	69	360	761
Other	222	—	—	222
Total	$1,489	$91	$652	$2,232

Con Edison Transmission — Con Edison has guaranteed payment by CET Electric of the contributions CET Electric agreed to make to New York Transco LLC (NY Transco). CET Electric owns a 45.7 percent interest in NY Transco. In April 2019, the New York Independent System Operator (NYISO) selected a transmission project that was jointly proposed by National Grid and NY Transco. The siting, construction and operation of the project will require approvals and permits from appropriate governmental agencies and authorities, including the NYSPSC. The NYISO indicated it will work with the developers to enter into agreements for the development and operation of the projects, including a schedule for entry into service by December 2023. Guarantee amount shown includes the maximum possible required amount of CET Electric’s contributions for this project as calculated based on the assumptions that the project is completed at 175 percent of its estimated costs and NY Transco does not use any debt financing for the project.

Energy Transactions — Con Edison and the Clean Energy Businesses guarantee payments on behalf of their subsidiaries in order to facilitate physical and financial transactions in electricity, gas, pipeline capacity, transportation, oil, 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.

Renewable Electric Projects — Con Edison and the Clean Energy Businesses guarantee payments on behalf of their wholly-owned subsidiaries associated with their investment in, or development for others of, solar and wind energy facilities.

Other — Other guarantees include a $70 million guarantee provided by Con Edison to Travelers Insurance Company for indemnity agreements for surety bonds in connection with the operation of solar energy facilities and energy service projects of the Clean Energy Businesses. Other guarantees also include a guarantee provided by Con Edison in connection with the Clean Energy Businesses’ obligations under a $150 million, 364-Day Senior Unsecured Term Loan Credit Agreement. See Note D.

Revenue Recognition (Tables)

9 Months Ended

Sep. 30, 2022

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following table presents, for the three and nine months ended September 30, 2022 and 2021, revenue from contracts with customers as defined in Accounting Standards Codification Topic 606, "Revenue from Contracts with Customers," as well as additional revenue from sources other than contracts with customers, disaggregated by major source.


	For the Three Months Ended September 30, 2022			For the Three Months Ended September 30, 2021
(Millions of Dollars)	Revenues from contracts with customers	Other revenues (a)	Total operating revenues	Revenues from contracts with customers	Other revenues (a)	Total operating revenues
CECONY
Electric	$3,165	$(88)	$3,077	$2,776	$(46)	$2,730
Gas	409	5	414	305	2	307
Steam	55	3	58	52	3	55
Total CECONY	$3,629	$(80)	$3,549	$3,133	$(41)	$3,092
O&R
Electric	256	(4)	252	229	(6)	223
Gas	29	10	39	32	2	34
Total O&R	$285	$6	$291	$261	$(4)	$257
Clean Energy Businesses
Renewables	197	—	197	185	—	185
Energy services	13	—	13	65	—	65
Develop/Transfer Projects	37	—	37	14	—	14
Other	—	78	78	—	—	—
Total Clean Energy Businesses	$247	$78	$325	$264	$—	$264
Con Edison Transmission	1	—	1	1	—	1
Other (b)	—	(1)	(1)	—	(1)	(1)
Total Con Edison	$4,162	$3	$4,165	$3,659	$(46)	$3,613

(a) For the Utilities, this includes primarily revenue or negative revenue adjustments from alternative revenue programs, such as the revenue decoupling mechanisms under their NY electric and gas rate plans (see "Rate Plans" in Note B). For the Clean Energy Businesses, this includes revenue from wholesale services.

(b) Parent company and consolidation adjustments.


	For the Nine Months Ended September 30, 2022			For the Nine Months Ended September 30, 2021
(Millions of Dollars)	Revenues from contracts with customers	Other revenues (a)	Total operating revenues	Revenues from contracts with customers	Other revenues (a)	Total operating revenues
CECONY
Electric	$7,525	$(124)	$7,401	$6,695	$(34)	$6,661
Gas	2,090	37	2,127	1,699	31	1,730
Steam	436	8	444	383	10	393
Total CECONY	$10,051	$(79)	$9,972	$8,777	$7	$8,784
O&R
Electric	595	(1)	594	535	(13)	522
Gas	217	2	219	184	(7)	177
Total O&R	$812	$1	$813	$719	$(20)	$699
Clean Energy Businesses
Renewables	524	—	524	519	—	519
Energy services	57	—	57	168	—	168
Develop/Transfer Projects	56	—	56	26	—	26
Other	—	220	220	—	66	66
Total Clean Energy Businesses	$637	$220	$857	$713	$66	$779
Con Edison Transmission	3	—	3	3	—	3
Other (b)	—	(6)	(6)	—	(4)	(4)
Total Con Edison	$11,503	$136	$11,639	$10,212	$49	$10,261

(b) Parent company and consolidation adjustments.

Change in Unbilled Contract and Unearned Revenues


	2022			2021
(Millions of Dollars)	Unbilled contract revenue (a)	Unearned revenue (b)		Unbilled contract revenue (a)	Unearned revenue (b)
Beginning balance as of January 1,	$35	$7		$11	$41
Additions (c)	103	—		174	—
Subtractions (c)	81	4	(d)	127	31	(d)
Ending balance as of September 30,	$57	$3		$58	$10

(a)Unbilled contract revenue represents accumulated incurred costs and earned profits on contracts (revenue arrangements), which have been recorded as revenue, but have not yet been billed to customers, and which represent contract assets as defined in Topic 606. Substantially all accrued unbilled contract revenue is expected to be collected within one year. Unbilled contract revenue arises from the cost-to-cost method of revenue recognition. Unbilled contract revenue from fixed-price type contracts is converted to billed receivables when amounts are invoiced to customers according to contractual billing terms, which generally occur when deliveries or other performance milestones are completed.

(b)Unearned revenue represents a liability for billings to customers in excess of earned revenue, which are contract liabilities as defined in Topic 606.

(c)Additions for unbilled contract revenue and subtractions for unearned revenue represent additional revenue earned. Additions for unearned revenue and subtractions for unbilled contract revenue represent billings. Activity also includes appropriate balance sheet classification for the period.

(d)Of the subtractions from unearned revenue, $4 million and $31 million were included in the balances as of January 1, 2022 and 2021, respectively.

Capitalization - Additional Information (Details) - USD ($) $ in Millions	1 Months Ended
	Jun. 30, 2022	Nov. 03, 2022
Debt Instrument [Line Items]
Repayments of debt	$ 293
Interest rate (percent)	8.71%
Debentures \| 5.70% Debentures Due 2032 \| Subsequent Event
Debt Instrument [Line Items]
Interest rate (percent)		5.70%
Long-term debt		$ 100

- Definition

Amount, excluding unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

CONSOLIDATED INCOME STATEMENT - CECONY (UNAUDITED) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
OPERATING REVENUES
TOTAL OPERATING REVENUES	$ 4,165	$ 3,613	$ 11,639	$ 10,261
OPERATING EXPENSES
Depreciation and amortization	525	512	1,593	1,511
Taxes, other than income taxes	777	727	2,248	2,103
TOTAL OPERATING EXPENSES	3,276	2,763	9,565	8,132
Operating income/(loss)	889	850	2,074	2,129
OTHER INCOME (DEDUCTIONS)
Investment income (loss)	5	5	15	(180)
Allowance for equity funds used during construction	4	5	15	15
Other deductions	(21)	(37)	(57)	(113)
TOTAL OTHER INCOME (DEDUCTIONS)	89	(22)	269	(259)
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE	978	828	2,343	1,870
INTEREST EXPENSE (INCOME)
Interest on long-term debt	246	235	728	693
Other interest expense (income)	(32)	(2)	(119)	(15)
Allowance for borrowed funds used during construction	(15)	(1)	(23)	(9)
NET INTEREST EXPENSE	199	232	586	669
INCOME BEFORE INCOME TAX EXPENSE	779	596	1,757	1,201
INCOME TAX EXPENSE	160	127	330	194
NET INCOME	613	538	1,470	1,122
Subsidiaries
OPERATING REVENUES
TOTAL OPERATING REVENUES	3,549	3,092	9,972	8,784
OPERATING EXPENSES
Depreciation and amortization	441	429	1,341	1,267
Taxes, other than income taxes	748	699	2,159	2,016
TOTAL OPERATING EXPENSES	2,811	2,364	8,243	6,948
Operating income/(loss)	738	728	1,729	1,836
OTHER INCOME (DEDUCTIONS)
Investment income (loss)	93	5	280	15
Allowance for equity funds used during construction	4	5	13	14
Other deductions	(16)	(33)	(48)	(99)
TOTAL OTHER INCOME (DEDUCTIONS)	81	(23)	245	(70)
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE	819	705	1,974	1,766
INTEREST EXPENSE (INCOME)
Interest on long-term debt	201	194	600	564
Other interest expense (income)	15	3	25	11
Allowance for borrowed funds used during construction	(14)	0	(21)	(8)
NET INTEREST EXPENSE	202	197	604	567
INCOME BEFORE INCOME TAX EXPENSE	617	508	1,370	1,199
INCOME TAX EXPENSE	124	90	232	188
NET INCOME	493	418	1,138	1,011
Electric
OPERATING REVENUES
TOTAL OPERATING REVENUES	3,328	2,952	7,994	7,180
Electric \| Subsidiaries
OPERATING REVENUES
TOTAL OPERATING REVENUES	3,077	2,730	7,401	6,661
Gas
OPERATING REVENUES
TOTAL OPERATING REVENUES	453	341	2,345	1,907
OPERATING EXPENSES
Operating costs	185	83	833	461
Gas \| Subsidiaries
OPERATING REVENUES
TOTAL OPERATING REVENUES	414	307	2,127	1,730
OPERATING EXPENSES
Operating costs	113	61	582	357
Steam
OPERATING REVENUES
TOTAL OPERATING REVENUES	58	55	444	393
Steam \| Subsidiaries
OPERATING REVENUES
TOTAL OPERATING REVENUES	58	55	444	393
Purchased power
OPERATING EXPENSES
Operating costs	731	548	1,851	1,448
Purchased power \| Subsidiaries
OPERATING EXPENSES
Operating costs	643	481	1,639	1,294
Fuel
OPERATING EXPENSES
Operating costs	59	44	255	166
Fuel \| Subsidiaries
OPERATING EXPENSES
Operating costs	59	44	255	166
Other operations and maintenance
OPERATING EXPENSES
Operating costs	999	849	2,785	2,443
Other operations and maintenance \| Subsidiaries
OPERATING EXPENSES
Operating costs	$ 807	$ 650	$ 2,267	$ 1,848

Income Tax - Additional Information (Details) - USD ($)	3 Months Ended			9 Months Ended
Income Tax - Additional Information (Details) - USD ($)	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Taxes Disclosure [Line Items]
Income tax expense (benefit)	$ 160,000,000		$ 127,000,000	$ 330,000,000	$ 194,000,000
Increase in reserve due to settlement		$ 5,000,000
Estimated liability for uncertain tax positions	21,000,000			21,000,000
Effective income tax rate reconciliation, uncertainty of taxes				17,000,000
Total amount of unrecognized tax benefits, if recognized, that would reduce effective tax rate	21,000,000			21,000,000
Penalties recognized for uncertain tax positions				0	0
Subsidiaries
Income Taxes Disclosure [Line Items]
Income tax expense (benefit)	124,000,000		90,000,000	232,000,000	$ 188,000,000
CECONY \| Subsidiaries
Income Taxes Disclosure [Line Items]
Income tax expense (benefit)	124,000,000		$ 90,000,000
Estimated liability for uncertain tax positions	7,000,000			7,000,000
Effective income tax rate reconciliation, uncertainty of taxes				4,000,000
Total amount of unrecognized tax benefits, if recognized, that would reduce effective tax rate	$ 7,000,000			$ 7,000,000

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Environmental Matters (Tables)

9 Months Ended

Sep. 30, 2022

Environmental Remediation Obligations [Abstract]

Accrued Liabilities and Regulatory Assets

The accrued liabilities and regulatory assets related to Superfund Sites at September 30, 2022 and December 31, 2021 were as follows:


	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Accrued Liabilities:
Manufactured gas plant sites	$833	$845	$744	$755
Other Superfund Sites	90	95	89	95
Total	$923	$940	$833	$850
Regulatory assets	$919	$938	$840	$860

Environmental Remediation Costs

Environmental remediation costs incurred related to Superfund Sites for the three and nine months ended September 30, 2022 and 2021 were as follows:


	For the Three Months Ended September 30,
	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Remediation costs incurred	$3	$7	$3	$7


	For the Nine Months Ended September 30,
	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Remediation costs incurred	$17	$21	$16	$20

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 or liabilities for the Companies at September 30, 2022 and December 31, 2021 were as follows:


	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Accrued liability – asbestos suits	$8	$8	$7	$7
Regulatory assets – asbestos suits	$8	$8	$7	$7
Accrued liability – workers’ compensation	$62	$65	$59	$62
Regulatory liabilities – workers’ compensation	$11	$8	$11	$8

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Clean Energy Businesses
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Gain on Level 3 energy derivative assets and liabilities	$ (8)	$ 20	$ 20	$ 24

Revenue Recognition

9 Months Ended

Sep. 30, 2022

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Revenue RecognitionThe following table presents, for the three and nine months ended September 30, 2022 and 2021, revenue from contracts with customers as defined in Accounting Standards Codification Topic 606, "Revenue from Contracts with Customers," as well as additional revenue from sources other than contracts with customers, disaggregated by major source.


	For the Three Months Ended September 30, 2022			For the Three Months Ended September 30, 2021
(Millions of Dollars)	Revenues from contracts with customers	Other revenues (a)	Total operating revenues	Revenues from contracts with customers	Other revenues (a)	Total operating revenues
CECONY
Electric	$3,165	$(88)	$3,077	$2,776	$(46)	$2,730
Gas	409	5	414	305	2	307
Steam	55	3	58	52	3	55
Total CECONY	$3,629	$(80)	$3,549	$3,133	$(41)	$3,092
O&R
Electric	256	(4)	252	229	(6)	223
Gas	29	10	39	32	2	34
Total O&R	$285	$6	$291	$261	$(4)	$257
Clean Energy Businesses
Renewables	197	—	197	185	—	185
Energy services	13	—	13	65	—	65
Develop/Transfer Projects	37	—	37	14	—	14
Other	—	78	78	—	—	—
Total Clean Energy Businesses	$247	$78	$325	$264	$—	$264
Con Edison Transmission	1	—	1	1	—	1
Other (b)	—	(1)	(1)	—	(1)	(1)
Total Con Edison	$4,162	$3	$4,165	$3,659	$(46)	$3,613

(b) Parent company and consolidation adjustments.


	For the Nine Months Ended September 30, 2022			For the Nine Months Ended September 30, 2021
(Millions of Dollars)	Revenues from contracts with customers	Other revenues (a)	Total operating revenues	Revenues from contracts with customers	Other revenues (a)	Total operating revenues
CECONY
Electric	$7,525	$(124)	$7,401	$6,695	$(34)	$6,661
Gas	2,090	37	2,127	1,699	31	1,730
Steam	436	8	444	383	10	393
Total CECONY	$10,051	$(79)	$9,972	$8,777	$7	$8,784
O&R
Electric	595	(1)	594	535	(13)	522
Gas	217	2	219	184	(7)	177
Total O&R	$812	$1	$813	$719	$(20)	$699
Clean Energy Businesses
Renewables	524	—	524	519	—	519
Energy services	57	—	57	168	—	168
Develop/Transfer Projects	56	—	56	26	—	26
Other	—	220	220	—	66	66
Total Clean Energy Businesses	$637	$220	$857	$713	$66	$779
Con Edison Transmission	3	—	3	3	—	3
Other (b)	—	(6)	(6)	—	(4)	(4)
Total Con Edison	$11,503	$136	$11,639	$10,212	$49	$10,261

(b) Parent company and consolidation adjustments.


	2022			2021
(Millions of Dollars)	Unbilled contract revenue (a)	Unearned revenue (b)		Unbilled contract revenue (a)	Unearned revenue (b)
Beginning balance as of January 1,	$35	$7		$11	$41
Additions (c)	103	—		174	—
Subtractions (c)	81	4	(d)	127	31	(d)
Ending balance as of September 30,	$57	$3		$58	$10

(b)Unearned revenue represents a liability for billings to customers in excess of earned revenue, which are contract liabilities as defined in Topic 606.

(d)Of the subtractions from unearned revenue, $4 million and $31 million were included in the balances as of January 1, 2022 and 2021, respectively.

As of September 30, 2022, the aggregate amount of the remaining fixed performance obligations of the Clean Energy Businesses under contracts with customers for energy services was $303 million, of which $265 million will be recognized within the next two years, and the remaining $38 million will be recognized pursuant to long-term service and maintenance agreements.

Utilities' Assessment of Late Payment Charges

In March 2020, the Utilities began suspending new late payment charges and certain other fees for all customers.

For the three months ended September 30, 2021, the estimated amount of these revenues was $12 million and $11 million for Con Edison and CECONY, respectively. For the nine months ended September 30, 2021, the estimated amount of these revenues was $49 million and $46 million for Con Edison and CECONY, respectively. The Utilities also began providing payment extensions for all customers that were scheduled to be disconnected prior to the start of the COVID-19 pandemic. In November 2021, the NYSPSC issued an order establishing a surcharge recovery mechanism for CECONY to collect, commencing December 1, 2021 through December 31, 2022, $43 million and $7 million for electric and gas, respectively, of late payment charges and fees that were not billed for the year ended December 31, 2020. In April 2022, the NYSPSC approved the October 2021 O&R NY joint proposal for new electric and gas rate plans for the three-year period January 2022 through December 2024 that includes certain COVID-19 provisions, such as: recovery of 2020 late payment charges over three years; reconciliation of late payment charges to amounts reflected in rates for years 2021 through 2024; and reconciliation of write-offs of customer accounts receivable balances to amounts reflected in rates from January 1, 2020 through December 31, 2024. CECONY resumed late payment charges for commercial and residential customers who have not experienced a change in financial circumstances due to the COVID-19 pandemic in September 2021 and October 2021, respectively. O&R resumed late payment charges for commercial and residential customers who have not experienced a change in financial circumstances due to the COVID-19 pandemic in October 2021. See "COVID-19 Regulatory Matters" in Note B.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI https://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045

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+ Details

Subsequent Events - Narrative (Details) - Subsequent Event - Disposal Group, Held-for-sale, Not Discontinued Operations - Clean Energy Businesses $ in Millions	Oct. 01, 2022 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration from sale of business	$ 6,800
Depreciation and amortization, before tax	60
Depreciation and amortization, after tax	39
Minimum
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Expected transaction costs, before tax	50
Expected transaction costs, after tax	35
Disposal group, deferred income taxes	100
Disposal group, deferred tax liabilities	100
Maximum
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Expected transaction costs, before tax	60
Expected transaction costs, after tax	45
Disposal group, deferred income taxes	140
Disposal group, deferred tax liabilities	$ 140

Dispositions (Details) - USD ($) $ in Millions	12 Months Ended
Dispositions (Details) - USD ($) $ in Millions	Dec. 31, 2021	Sep. 30, 2022	Jun. 30, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Carrying value of projects sold	$ 44,214	$ 45,879
Subsidiaries
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Carrying value of projects sold	41,611	$ 43,206
Clean Energy Businesses \| Subsidiaries
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Carrying value of projects sold			$ 192
Gain (loss) on sale of projects	3
Gain on sale, after tax	2
Equity method investments	$ 11

Summary of Significant Accounting Policies and Other Matters - Changes in Accumulated Other Comprehensive Income/(Loss) (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 20,621	$ 20,623	$ 20,336	$ 20,053	$ 19,282	$ 19,065	$ 20,336	$ 19,065
TOTAL OTHER COMPREHENSIVE INCOME, NET OF TAXES	1	5		2	2	4	6	8
Ending balance	20,976	20,621	20,623	20,377	20,053	19,282	20,976	20,377
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance			20,037				20,037
Ending Balance	20,748						20,748
Subsidiaries
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
TOTAL OTHER COMPREHENSIVE INCOME, NET OF TAXES			1
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	16,568	16,618	16,312	15,924	15,192	14,849	16,312	14,849
TOTAL OTHER COMPREHENSIVE INCOME, NET OF TAXES	0			0			1	0
Ending Balance	16,867	16,568	16,618	16,220	15,924	15,192	16,867	16,220
AOCI Attributable to Parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	10	5	5	(19)	(21)	(25)	5	(25)
TOTAL OTHER COMPREHENSIVE INCOME, NET OF TAXES	1	5		2	2	4
Ending balance	11	10	5	(17)	(19)	(21)	11	(17)
AOCI Attributable to Parent \| Subsidiaries
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
TOTAL OTHER COMPREHENSIVE INCOME, NET OF TAXES			1
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	1	1	0	(7)	(7)	(7)	0	(7)
Ending Balance	1	$ 1	$ 1	(7)	$ (7)	$ (7)	1	(7)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
OCI before reclassifications, net of tax							4	2
Amounts reclassified from accumulated OCI related to pension plan liabilities, net of tax	1			2			2	6
TOTAL OTHER COMPREHENSIVE INCOME, NET OF TAXES	1			2			6	8
AOCI Attributable to Parent, Net of Tax [Roll Forward]
OCI before reclassifications, tax	0						(1)	(1)
Amounts reclassified from accumulated OCI related to pension plan liabilities, tax				(1)			(1)	(2)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent \| Subsidiaries
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Amounts reclassified from accumulated OCI related to pension plan liabilities, net of tax	0			0			1	0
TOTAL OTHER COMPREHENSIVE INCOME, NET OF TAXES	$ 0			$ 0			1	0
CECONY \| Accumulated Defined Benefit Plans Adjustment Attributable to Parent \| Subsidiaries
AOCI Attributable to Parent, Net of Tax [Roll Forward]
OCI before reclassifications, net of tax							$ 0	$ 0

Other Postretirement Benefits

9 Months Ended

Sep. 30, 2022

Retirement Benefits [Abstract]

Other Postretirement Benefits

Total Periodic Benefit Cost

The components of the Companies’ total periodic other postretirement benefit cost/(credit) for the three and nine months ended September 30, 2022 and 2021 were as follows:


	For the Three Months Ended September 30,
	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Service cost - including administrative expenses	$5	$2	$4	$1
Interest cost on projected other postretirement benefit obligation	8	7	8	6
Expected return on plan assets	(18)	(17)	(14)	(14)
Recognition of net actuarial loss/(gain)	(4)	4	(3)	3
TOTAL PERIODIC OTHER POSTRETIREMENT BENEFIT COST/(CREDIT)	$(9)	($4)	$(5)	$(4)
Cost capitalized	(2)	(3)	(2)	(3)
Reconciliation to rate level	7	7	6	6
Total credit recognized	$(4)	$—	$(1)	$(1)


	For the Nine Months Ended September 30,
	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Service cost - including administrative expenses	$14	$15	$11	$11
Interest cost on projected other postretirement benefit obligation	26	23	23	19
Expected return on plan assets	(54)	(51)	(43)	(41)
Recognition of net actuarial loss/(gain)	(11)	17	(7)	13
Recognition of prior service credit	(1)	(2)	—	(1)
TOTAL PERIODIC OTHER POSTRETIREMENT BENEFIT COST/(CREDIT)	$(26)	$2	$(16)	$1
Cost capitalized	(6)	(9)	(5)	(7)
Reconciliation to rate level	22	7	18	2
Total credit recognized	$(10)	$—	$(3)	$(4)

For information about the presentation of the components of other postretirement benefit costs, see Note E.

Contributions

As of September 30, 2022, the Companies contributed $9 million (all of which was made by CECONY) to the other postretirement benefit plans in 2022. The Companies' policy is to fund the total periodic benefit cost of the plans to the extent tax deductible.

CONSOLIDATED INCOME STATEMENT (UNAUDITED) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
OPERATING REVENUES
TOTAL OPERATING REVENUES	$ 4,165	$ 3,613	$ 11,639	$ 10,261
OPERATING EXPENSES
Depreciation and amortization	525	512	1,593	1,511
Taxes, other than income taxes	777	727	2,248	2,103
TOTAL OPERATING EXPENSES	3,276	2,763	9,565	8,132
OPERATING INCOME	889	850	2,074	2,129
OTHER INCOME (DEDUCTIONS)
Investment income (loss)	5	5	15	(180)
Other income	101	5	296	19
Allowance for equity funds used during construction	4	5	15	15
Other deductions	(21)	(37)	(57)	(113)
TOTAL OTHER INCOME (DEDUCTIONS)	89	(22)	269	(259)
INCOME BEFORE INTEREST AND INCOME TAX EXPENSE	978	828	2,343	1,870
INTEREST EXPENSE (INCOME)
Interest on long-term debt	246	235	728	693
Other interest expense (income)	(32)	(2)	(119)	(15)
Allowance for borrowed funds used during construction	(15)	(1)	(23)	(9)
NET INTEREST EXPENSE	199	232	586	669
INCOME BEFORE INCOME TAX EXPENSE	779	596	1,757	1,201
INCOME TAX EXPENSE	160	127	330	194
NET INCOME	619	469	1,427	1,007
Income (loss) attributable to non-controlling interest	6	(69)	(43)	(115)
NET INCOME	$ 613	$ 538	$ 1,470	$ 1,122
Net income per common share - basic (dollars per share)	$ 1.73	$ 1.52	$ 4.15	$ 3.23
Net income per common share - diluted (dollars per share)	$ 1.72	$ 1.52	$ 4.13	$ 3.23
AVERAGE NUMBER OF SHARES OUTSTANDING-BASIC (shares)	354.6	353.4	354.4	346.8
AVERAGE NUMBER OF SHARES OUTSTANDING—DILUTED (shares)	355.9	354.1	355.7	347.5
Electric
OPERATING REVENUES
TOTAL OPERATING REVENUES	$ 3,328	$ 2,952	$ 7,994	$ 7,180
Gas
OPERATING REVENUES
TOTAL OPERATING REVENUES	453	341	2,345	1,907
OPERATING EXPENSES
Operating costs	185	83	833	461
Steam
OPERATING REVENUES
TOTAL OPERATING REVENUES	58	55	444	393
Non-utility
OPERATING REVENUES
TOTAL OPERATING REVENUES	326	265	856	781
Purchased power
OPERATING EXPENSES
Operating costs	731	548	1,851	1,448
Fuel
OPERATING EXPENSES
Operating costs	59	44	255	166
Other operations and maintenance
OPERATING EXPENSES
Operating costs	$ 999	$ 849	$ 2,785	$ 2,443

Related Party Transactions

9 Months Ended

Sep. 30, 2022

Related Party Transactions

The NYSPSC generally requires that the Utilities and Con Edison’s other subsidiaries be operated as separate entities. The Utilities and the other subsidiaries are required to have separate operating employees and operating officers of the Utilities may not be operating officers of the other subsidiaries. The Utilities may provide administrative and other services to, and receive such services from, Con Edison and its other subsidiaries only pursuant to cost allocation procedures approved by the NYSPSC. Transfers of assets between the Utilities and Con Edison or its other subsidiaries may be made only as approved by the NYSPSC. The debt of the Utilities is to be raised directly by the Utilities and not derived from Con Edison. Without the prior permission of the NYSPSC, the Utilities may not make loans to, guarantee the obligations of, or pledge assets as security for the indebtedness of Con Edison or its other subsidiaries. The NYSPSC limits the dividends that the Utilities may pay Con Edison to not more than 100 percent of their respective income available for dividends calculated on a two–year rolling average basis. Excluded from the calculation of “income available for dividends” are non-cash charges to income resulting from accounting changes or charges to income resulting from significant unanticipated events. The restriction also does not apply to dividends paid in order to transfer to Con Edison proceeds from major transactions, such as asset sales, or to dividends reducing each utility subsidiary’s equity ratio to a level appropriate to its business risk. As a result, substantially all of the net assets of CECONY and O&R ($16,867 million and $923 million, respectively), at September 30, 2022, are considered restricted net assets. The NYSPSC may impose additional measures to separate, or “ring fence,” the Utilities from Con Edison and its other subsidiaries.


	For the Three Months Ended September 30,
	CECONY
(Millions of Dollars)	2022	2021
Cost of services provided	$35	$34
Cost of services received	19	18


	For the Nine Months Ended September 30,
	CECONY
(Millions of Dollars)	2022	2021
Cost of services provided	$101	$100
Cost of services received	56	51

In addition, CECONY and O&R have joint gas supply arrangements in connection with which CECONY sold to O&R, $26 million and $17 million of natural gas for the three months ended September 30, 2022 and 2021, respectively and $97 million and $59 million for the nine months ended September 30, 2022 and 2021, respectively. These amounts are net of the effect of related hedging transactions.

At September 30, 2022 and December 31, 2021, CECONY's net payable to Con Edison for income taxes was $12 million and $10 million, respectively.

The Utilities perform work and incur expenses on behalf of NY Transco, a company in which CET Electric has a 45.7 percent equity interest. The Utilities bill NY Transco for such work and expenses in accordance with established policies. For the three months ended September 30, 2022 and 2021, the amounts billed by the Utilities to NY Transco were $2 million and an immaterial amount, respectively, and $6 million and an immaterial amount for the nine months ended September 30, 2022 and 2021, respectively.

CECONY has storage and wheeling service contracts with Stagecoach Gas Services LLC (Stagecoach), a joint venture formerly owned by a subsidiary of CET Gas and a subsidiary of Crestwood Equity Partners LP (Crestwood). In addition, CECONY is the replacement shipper on one of Crestwood’s firm transportation agreements with Tennessee Gas Pipeline Company LLC. CECONY incurred costs for storage and wheeling services from Stagecoach of $8 million and $23 million for the three and nine months ended September 30, 2021, respectively. During 2021, a subsidiary of CET Gas completed the sale of its 50 percent interest in Stagecoach.

CECONY has a 20-year transportation contract with Mountain Valley Pipeline, LLC (MVP) for 250,000 dekatherms per day of capacity. CET Gas owns a 9.7 percent equity interest in MVP (that is expected to be reduced to 8.0 percent). See "Investments - 2020 and 2021 Partial Impairments of Investment in Mountain Valley Pipeline, LLC (MVP) in Note A. In October 2017, the Environmental Defense Fund and the Natural Resource Defense Council requested the NYSPSC to prohibit CECONY from recovering costs under its MVP contract unless CECONY can demonstrate that the contract is in the public interest. CECONY advised the NYSPSC that it would respond to the request if the NYSPSC opened a proceeding to consider this request. For the three and nine months ended September 30, 2022 and 2021, CECONY incurred no costs under the contract.

FERC has authorized CECONY to lend funds to O&R for a period of not more than 12 months, in an amount not to exceed $250 million, at prevailing market rates. At September 30, 2022 and December 31, 2021 there were no outstanding loans to O&R.

The Clean Energy Businesses had financial electric capacity contracts with CECONY and O&R. For the three months ended September 30, 2022 and 2021, the Clean Energy Businesses realized a $1 million gain and $4 million gain and $2 million gain for the nine months ended September 30, 2022 and 2021, respectively, under these contracts.

General	9 Months Ended
General	Sep. 30, 2022
Accounting Policies [Abstract]
General	General These combined notes accompany and form an integral part of the separate interim 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 Orange and Rockland Utilities, Inc. (O&R), Con Edison Clean Energy Businesses, Inc. (together with its subsidiaries, the Clean Energy Businesses) and Con Edison Transmission, Inc. (together with its subsidiaries, Con Edison Transmission) 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 statement 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, 2021 and their separate unaudited financial statements (including the combined notes thereto) included in Part 1, Item 1 of their combined Quarterly Reports on Form 10-Q for the quarterly periods ended March 31, 2022 and June 30, 2022. 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 subsidiary, provides electric service in southeastern New York, "NY", and northern New Jersey, "NJ", and gas service in southeastern NY. The Clean Energy Businesses, through its subsidiaries, develops, owns and operates renewable and sustainable energy infrastructure projects and provides energy-related products and services to wholesale and retail customers. In October 2022, Con Edison entered into a purchase and sale agreement pursuant to which Con Edison agreed to sell the Clean Energy Businesses to RWE Renewables America, LLC, a subsidiary of RWE Aktiengesellschaft. See Note T. Con Edison Transmission invests in and seeks to develop electric transmission projects through its subsidiary, Consolidated Edison Transmission, LLC (CET Electric), and manages, through joint ventures, investments in gas pipeline and storage facilities through its subsidiary Con Edison Gas Pipeline and Storage, LLC (CET Gas). See “Investments” in Note A.

Fair Value Measurements

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

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.

For information on the measurement of Con Edison's investment in MVP, which was measured at fair value on a

non-recurring basis, see Note A. Assets and liabilities measured at fair value on a recurring basis as of September 30, 2022 and December 31, 2021 are summarized below.


	2022					2021
(Millions of Dollars)	Level 1	Level 2	Level 3	Netting Adjustment (e)	Total	Level 1	Level 2	Level 3	Netting Adjustment (e)	Total
Con Edison
Derivative assets:
Commodity (a)(b)(c)	$189	$610	$37	$(435)	$401	$95	$260	$17	$(171)	$201
Interest rate swaps (a)(b)(c)	—	105	—	—	105	—	4	—	—	4
Other (a)(b)(d)	415	116	—	—	531	492	135	—	—	627
Total assets	$604	$831	$37	$(435)	$1,037	$587	$399	$17	$(171)	$832
Derivative liabilities:
Commodity (a)(b)(c)	$17	$211	$21	$(148)	$101	$33	$266	$28	$(148)	$179
Interest rate swaps (a)(b)(c)	—	—	—	—	—	—	57	—	—	57
Total liabilities	$17	$211	$21	$(148)	$101	$33	$323	$28	$(148)	$236
CECONY
Derivative assets:
Commodity (a)(b)(c)	$170	$497	$9	$(350)	$326	$67	$138	$1	$(79)	$127
Other (a)(b)(d)	400	110	—	—	510	474	127	—	—	601
Total assets	$570	$607	$9	$(350)	$836	$541	$265	$1	$(79)	$728
Derivative liabilities:
Commodity (a)(b)(c)	$5	$144	$9	$(93)	$65	$1	$172	$8	$(53)	$128
Total liabilities	$5	$144	$9	$(93)	$65	$1	$172	$8	$(53)	$128

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.

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

The employees in the Companies’ risk management group develop and maintain the Companies’ valuation policies and procedures for, and verify pricing and fair value valuation of, commodity derivatives and interest rate swaps. Under the Companies’ policies and procedures, multiple independent sources of information are obtained for forward price curves used to value commodity derivatives and interest rate swaps. Fair value and changes in fair value of commodity derivatives and interest rate swaps are reported monthly to the Companies’ risk committees, comprised of officers and employees of the Companies that oversee energy hedging at the Utilities and the Clean Energy Businesses. The risk management group reports to the Companies’ Vice President and Treasurer.

Fair Value of Level 3 at September 30, 2022

Valuation
Techniques

Unobservable Inputs

Range

(Millions of Dollars)

Con Edison – Commodity

Electricity

$17

Discounted Cash Flow

Forward energy prices (a)

$22.25-$172.80 per MWh

(4)

Discounted Cash Flow

Forward capacity prices (a)

$0.55-$7.26 per kW-month

Natural Gas

—

Discounted Cash Flow

Forward natural gas prices (a)

$3.75-$21.37 per Dt

Transmission Congestion Contracts/Financial Transmission Rights

Discounted Cash Flow

Inter-zonal forward price curves adjusted for historical zonal losses (b)

$(12.89)-$207.83 per MWh

Total Con Edison—Commodity

$16

CECONY – Commodity

Electricity

Discounted Cash Flow

Forward energy prices (a)

$37.33-$172.80 per MWh

Electricity

(6)

Discounted Cash Flow

Forward capacity prices (a)

$1.10-$7.26 per kW-month

Transmission Congestion Contracts

Discounted Cash Flow

Inter-zonal forward price curves adjusted for historical zonal losses (b)

$1.03-$5.51 per MWh

Total CECONY—Commodity

$—

(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,
	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Beginning balance as of July 1,	$9	$(9)	$(11)	$(7)
Included in earnings	(10)	21	(1)	1
Included in regulatory assets and liabilities	14	(17)	11	(11)
Purchases	1	—	—	—
Settlements	2	—	1	—
Ending balance as of September 30,	$16	$(5)	$—	$(17)


	For the Nine Months Ended September 30,
	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Beginning balance as of January 1,	$(11)	$(19)	$(7)	$(10)
Included in earnings	13	20	(3)	(2)
Included in regulatory assets and liabilities	7	(9)	5	(7)
Purchases	3	—	—	—
Settlements	3	3	4	2
Transfer out of level 3	1	—	1	—
Ending balance as of September 30,	$16	$(5)	$—	$(17)

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 regulators. 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 Clean Energy Businesses, realized and unrealized gains and losses on Level 3 commodity derivative assets and liabilities are reported in non-utility revenues ($(8) million loss and $20 million gain) on the consolidated income statement for the three months ended September 30, 2022 and 2021, respectively, and ($20 million gain and $24 million gain) for the nine months ended September 30, 2022 and 2021, respectively.

Variable Interest Entities - Net Assets (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Variable Interest Entity [Line Items]
Noncontrolling interest	$ 228	$ 299
Great Valley Solar
Variable Interest Entity [Line Items]
Non-utility property, less accumulated depreciation	269	275
Other assets	40	37
Total assets	309	312
Other liabilities	19	14
Total liabilities	19	14
Accumulated depreciation	33	26
Great Valley Solar \| Tax Equity Investors
Variable Interest Entity [Line Items]
Noncontrolling interest	71	84
Copper Mountain - Mesquite Solar
Variable Interest Entity [Line Items]
Non-utility property, less accumulated depreciation	420	431
Other assets	168	167
Total assets	588	598
Other liabilities	83	74
Total liabilities	83	74
Accumulated depreciation	55	44
Copper Mountain - Mesquite Solar \| Tax Equity Investors
Variable Interest Entity [Line Items]
Noncontrolling interest	100	118
CED Nevada Virginia
Variable Interest Entity [Line Items]
Non-utility property, less accumulated depreciation	627	643
Other assets	61	55
Total assets	688	698
Other liabilities	325	315
Total liabilities	325	315
Noncontrolling interest	54	95
Accumulated depreciation	$ 24	$ 10

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets:	$ 1,037	$ 832
Derivative liabilities:	101	236
Liabilities transferred out of Level 3	1	4
CECONY \| Subsidiaries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets:	836	728
Derivative liabilities:	65	128
Liabilities transferred out of Level 3	1	3
Netting Adjustment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets:	(435)	(171)
Derivative liabilities:	(148)	(148)
Netting Adjustment \| CECONY \| Subsidiaries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets:	(350)	(79)
Derivative liabilities:	(93)	(53)
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets:	604	587
Derivative liabilities:	17	33
Level 1 \| CECONY \| Subsidiaries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets:	570	541
Derivative liabilities:	5	1
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets:	831	399
Derivative liabilities:	211	323
Level 2 \| CECONY \| Subsidiaries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets:	607	265
Derivative liabilities:	144	172
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets:	37	17
Derivative liabilities:	21	28
Level 3 \| CECONY \| Subsidiaries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets:	9	1
Derivative liabilities:	9	8
Commodity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets:	401	201
Derivative liabilities:	101	179
Transfer out of level 3	1
Commodity \| CECONY \| Subsidiaries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets:	326	127
Derivative liabilities:	65	128
Transfer out of level 3	1
Commodity \| Netting Adjustment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets:	(435)	(171)
Derivative liabilities:	(148)	(148)
Commodity \| Netting Adjustment \| CECONY \| Subsidiaries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets:	(350)	(79)
Derivative liabilities:	(93)	(53)
Commodity \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets:	189	95
Derivative liabilities:	17	33
Commodity \| Level 1 \| CECONY \| Subsidiaries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets:	170	67
Derivative liabilities:	5	1
Commodity \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets:	610	260
Derivative liabilities:	211	266
Commodity \| Level 2 \| CECONY \| Subsidiaries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets:	497	138
Derivative liabilities:	144	172
Commodity \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets:	37	17
Derivative liabilities:	21	28
Commodity \| Level 3 \| CECONY \| Subsidiaries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets:	9	1
Derivative liabilities:	9	8
Interest rate swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets:	105	4
Derivative liabilities:	0	57
Interest rate swap \| Netting Adjustment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets:	0	0
Derivative liabilities:	0	0
Interest rate swap \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets:	0	0
Derivative liabilities:	0	0
Interest rate swap \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets:	105	4
Derivative liabilities:	0	57
Interest rate swap \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets:	0	0
Derivative liabilities:	0	0
Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets:	531	627
Other \| CECONY \| Subsidiaries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets:	510	601
Other \| Netting Adjustment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets:	0	0
Other \| Netting Adjustment \| CECONY \| Subsidiaries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets:	0	0
Other \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets:	415	492
Other \| Level 1 \| CECONY \| Subsidiaries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets:	400	474
Other \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets:	116	135
Other \| Level 2 \| CECONY \| Subsidiaries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets:	110	127
Other \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets:	0	0
Other \| Level 3 \| CECONY \| Subsidiaries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets:	$ 0	$ 0

Summary of Significant Accounting Policies and Other Matters

9 Months Ended

Sep. 30, 2022

Accounting Policies [Abstract]

Summary of Significant Accounting Policies and Other Matters

Accounting Policies

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

Investments

Con Edison's investments consist primarily of the investments of Con Edison Transmission that are accounted for under the equity method and the fair value of the Utilities' supplemental retirement income plan and deferred income plan assets.

2021 Partial Impairment of Investment in Stagecoach Gas Services LLC (Stagecoach)

In May 2021, a subsidiary of Con Edison Gas Pipeline and Storage, LLC (CET Gas) entered into a purchase and sale agreement pursuant to which the subsidiary and its joint venture partner agreed to sell their combined interests in Stagecoach Gas Services LLC (Stagecoach) for a total of $1,225 million, of which $629 million was attributed to CET Gas for its 50 percent interest. The purchase and sale agreement contemplated a two-stage closing, the first of which was completed in July 2021 and the second of which was completed in November 2021.

As a result of information made available to Stagecoach as part of the sale process, Stagecoach performed impairment tests that resulted in Stagecoach recording impairment charges of $414 million for the nine months ended September 30, 2021. Accordingly, Con Edison recorded pre-tax impairment losses on its 50 percent interest in Stagecoach of $211 million ($147 million after-tax), including working capital and transaction cost adjustments,

within "Investment income/(loss)" on Con Edison's consolidated income statements for the nine months ended September 30, 2021. These charges reduced the carrying value of its investment in Stagecoach to $630 million at June 30, 2021.

Stagecoach's impairment charges and information obtained from the sales processes constituted triggering events for Con Edison's investment in Stagecoach as of March 31, 2021 and June 30, 2021. Con Edison evaluated the carrying value of its investment in Stagecoach for other-than-temporary declines in value using income and market-based approaches. Con Edison determined that the carrying value of its investment in Stagecoach of $667 million and $630 million as of March 31, 2021 and June 30, 2021, respectively, was not impaired. The carrying value of $630 million at June 30, 2021 reflected the final sales price received in July and the remaining amount received in November 2021, including closing adjustments. CET Gas had no remaining investment in Stagecoach as of December 31, 2021 and September 30, 2022.

2020 and 2021 Partial Impairments of Investment in Mountain Valley Pipeline, LLC (MVP)

In January 2016, Con Edison Gas Pipeline and Storage, LLC (CET Gas), an indirect subsidiary of Con Edison, acquired a 12.5 percent equity interest in MVP, a company developing a proposed 300-mile gas transmission project (the Project) in WV and VA. During 2019, Con Edison exercised its right to limit, and did limit, its cash contributions to the joint venture to approximately $530 million, which reduced CET Gas' interest in MVP to 11.3 percent and 10.2 percent as of December 31, 2020 and 2021, respectively. As of September 30, 2022 CET Gas' interest in MVP is 9.7 percent and is expected to be reduced to 8.0 percent based on the Project's current cost estimate and CET Gas' previous capping of its cash contributions. As of December 31, 2020 and 2021, the Project was approximately 92 percent and 94 percent complete, respectively.

During 2020, progress was made on the construction of the Project, and the U.S. Supreme Court issued favorable decisions in cases unrelated to MVP regarding the permitting process for pipeline construction and water crossings. In November 2020, the U.S. Court of Appeals for the Fourth Circuit issued a stay on the Nationwide Permit 12, effectively blocking the Project’s ability to pursue water crossings under that permit. As a result, in November 2020 the Project applied to the FERC for a certificate amendment to bore under water bodies in a portion of the Project in WV, allowing this portion of the pipe to be completed and placed in-service while a plan for the remaining water crossings was pursued. If approved, this certificate amendment would have led to additional Project costs and would have extended the anticipated in-service date. In January 2021, the FERC did not approve the requested certificate amendment. Later in January 2021, the Project indicated its plans to apply for U.S. Army Corps of Engineers individual permits for certain water crossings and a new certificate amendment application to the FERC to bore under other water crossings that, in total, would cover the entire Project length.

The uncertainty related to obtaining necessary water crossing permits, the resulting Project costs and the likelihood of the Project not reaching eventual completion increased as a result of actions taken by the U.S. Court of Appeals for the Fourth Circuit. This action and associated delays constituted a triggering event (the "2020 triggering event") that required Con Edison to test its investment in MVP for an other-than-temporary impairment as of December 31, 2020.

In December 2021, the Virginia Department of Environmental Quality and the West Virginia Department of Environmental Protection both issued water quality certification permits which are required in order for the U.S. Army Corps of Engineers to proceed with the permitting process for construction of certain Project water crossings. In January 2022, the U.S. Court of Appeals for the Fourth Circuit rejected permits for crossings through the Jefferson National Forest issued by the U.S. Forest Service and Bureau of Land Management. In February 2022, the U.S. Court of Appeals for the Fourth Circuit vacated a biological opinion from the U.S. Fish and Wildlife Service, applicable to all remaining construction. The biological opinion had been issued and was the subject of litigation prior to December 31, 2021. Con Edison believed that the February 2022 action by the U.S. Court of Appeals for the Fourth Circuit, along with the potential outcome of other matters pending before that Court, may lead to further delays and increased Project costs, which constituted a triggering event (the “2021 triggering event”) that required Con Edison to test its investment in MVP for an other-than-temporary impairment as of December 31, 2021.

In response to the 2020 triggering event and 2021 triggering event, Con Edison assessed the value of its equity investment in the Project to determine whether the fair value of its investment in MVP had declined below its carrying value on an other-than-temporary basis as of December 31, 2020 and 2021, respectively. The estimated fair value of the investment was determined using a discounted cash flow analysis, which is a level 3 fair value measurement. The analysis discounted probability-weighted future cash flows, including revenues based on long-term firm transportation contracts, that are secured for the first 20 years following completion of the Project. See Note Q. Con Edison has also assumed cash flows extending beyond this period. All cash flows were discounted at a pre-tax discount rate of 8.3 percent and then weighted based on Con Edison’s estimate of the likelihood that the

Project will be completed. For the 2020 triggering event, Con Edison estimated that the likelihood of Project completion was in the upper end of a reasonably possible range. For the 2021 triggering event, Con Edison anticipated that the Project faces legal and regulatory challenges that make construction completion increasingly remote. The Project faces additional delays and increased costs that could further reduce CET Gas' interest in MVP to below 8.0 percent based on CET Gas' previous capping of its cash contributions. The likelihood that the Project will be completed and, for 2020, the discount rate, are the most significant and sensitive assumptions; changes in these assumptions may materially change the results of the impairment calculation.

Based on the discounted cash flow analyses, Con Edison concluded as of December 31, 2020 and 2021 that the fair value of its investment in MVP declined below its carrying value and the declines were other-than-temporary. Accordingly, Con Edison recorded a pre-tax impairment loss of $320 million ($223 million, after tax) for the year ended December 31, 2020 that reduced the carrying value of its investment in MVP from $662 million to $342 million, with an associated deferred tax asset of $53 million. Additionally, Con Edison recorded a pre-tax impairment loss of $231 million ($162 million, after tax) for the year ended December 31, 2021 that reduced the carrying value of its investment in MVP from $342 million to $111 million with an additional $77 million associated deferred tax asset, totaling a deferred tax asset of $130 million at December 31, 2021 and September 30, 2022. The impairments were recorded within “Investment income (loss)” on Con Edison’s Consolidated Income Statement. In addition, Con Edison did not record non-cash equity in earnings from allowance for funds used during construction from MVP beginning in January 2021 and will continue to refrain from recording such amounts until such time as substantial construction activities resume, which would be indicative of probable Project completion. There were no impairments or substantial changes in the carrying value of Con Edison's investment in MVP for the nine months ended September 30, 2022.

There is risk that the fair value of Con Edison’s investment in MVP may be further or fully impaired in the future. There are ongoing legal and regulatory matters that must be resolved favorably before the Project can be completed. Assumptions and estimates used to test Con Edison’s investment in MVP for impairment may change if adverse or delayed resolutions to the Project’s pending legal and regulatory challenges were to occur, which could have a material adverse effect on the fair value of Con Edison’s investment in MVP.

Reclassification

Certain prior period amounts have been reclassified within the Companies' Consolidated Statements of Cash Flows and Consolidated Balance Sheets to conform with current period presentation.

Earnings Per Common Share

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

Potentially dilutive securities for Con Edison consist of restricted stock units and deferred stock units for which the average market price of the common shares for the period was greater than the estimated vesting price.

For the three and nine months ended September 30, 2022 and 2021, basic and diluted EPS for Con Edison are calculated as follows:


	For the Three Months Ended September 30,		For the Nine Months Ended September 30,
(Millions of Dollars, except per share amounts/Shares in Millions)	2022	2021	2022	2021
Net income for common stock	$613	$538	$1,470	$1,122
Weighted average common shares outstanding – basic	354.6	353.4	354.4	346.8
Add: Incremental shares attributable to effect of potentially dilutive securities	1.3	0.7	1.3	0.7
Adjusted weighted average common shares outstanding – diluted	355.9	354.1	355.7	347.5
Net Income per common share – basic	$1.73	$1.52	$4.15	$3.23
Net Income per common share – diluted	$1.72	$1.52	$4.13	$3.23

The computation of diluted EPS for the three and nine months ended September 30, 2021 excludes immaterial amounts of performance share awards that were not included because of their anti-dilutive effect.

Changes in Accumulated Other Comprehensive Income/(Loss) by Component

For the three and nine months ended September 30, 2022 and 2021, changes to accumulated other comprehensive income/(loss) (OCI) for Con Edison and CECONY are as follows:


	For the Three Months Ended September 30,
	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Beginning balance, accumulated OCI, net of taxes (a)	$10	$(19)	$1	$(7)

Amounts reclassified from accumulated OCI related to pension plan liabilities, net of tax $(1) for Con Edison in 2021 (a)(b)	1	2	—	—
Current period OCI, net of taxes	1	2	—	—
Ending balance, accumulated OCI, net of taxes (a)	$11	$(17)	$1	$(7)

(a) Tax reclassified from accumulated OCI is reported in the income tax expense line item of the consolidated income statement.


	For the Nine Months Ended September 30,
	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Beginning balance, accumulated OCI, net of taxes (a)	$5	$(25)	$—	$(7)
OCI before reclassifications, net of tax of $(1) for Con Edison in 2022 and 2021	4	2	—	—
Amounts reclassified from accumulated OCI related to pension plan liabilities, net of tax of $(1) and $(2) for Con Edison in 2022 and 2021, respectively (a)(b)	2	6	1	—
Current period OCI, net of taxes	6	8	1	—
Ending balance, accumulated OCI, net of taxes (a)	$11	$(17)	$1	$(7)

(a) Tax reclassified from accumulated OCI is reported in the income tax expense line item of the consolidated income statement.

Reconciliation of Cash, Temporary Cash Investments and Restricted Cash

Cash, temporary cash investments and restricted cash are presented on a combined basis in the Companies’ consolidated statements of cash flows. At September 30, 2022 and 2021, cash, temporary cash investments and restricted cash for Con Edison and CECONY were as follows:


	At September 30,
	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Cash and temporary cash investments	$78	$66	$25	$18
Restricted cash (a)	163	149	—	—
Total cash, temporary cash investments and restricted cash	$241	$215	$25	$18

Assets Held for Sale

Generally, a long-lived asset or business to be sold is classified as held for sale in the period in which management, with approval from the Board of Directors, commits to a plan to sell, and a sale is expected to be completed within one year. During the first nine months of 2022, Con Edison considered strategic alternatives with respect to the Clean Energy Businesses. As described further in Note T, on October 1, 2022, Con Edison's management received authority to commit to a plan to sell the Clean Energy Businesses and entered into a purchase and sale agreement. As of September 30, 2022, the Clean Energy Businesses did not meet the held-for-sale criteria, but did meet the criteria subsequent to September 30, 2022, on October 1, 2022. Con Edison records assets and liabilities, once

held for sale, at the lower of their carrying value or their estimated fair value less cost to sell, and also stops recording depreciation on assets held for sale.

Fair value is the amount at which an asset, liability or business could be bought or sold in a current transaction between willing parties and may be estimated using a number of techniques, or may be observable using quoted market prices. Con Edison used a market approach consisting of the contractual sales price adjusted for estimated working capital and other contractual purchase price adjustments to determine the fair value of the Clean Energy Businesses in October 2022, and subtracted estimated costs to sell from that calculated fair value. The resulting net fair value of the Clean Energy Businesses exceeded the carrying value of the Clean Energy Businesses, and accordingly no impairments were noted.

The sale of the Clean Energy Businesses does not represent a strategic shift that has or will have a major effect on Con Edison, and as such, does not qualify for treatment as a discontinued operation.

For further information, see Note T.

Derivative Instruments and Hedging Activities - Realized and Unrealized Gains (Losses) on Commodity Derivatives (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Total deferred gains/(losses)	$ 54	$ 366	$ 470	$ 549
Total deferred gains/(losses)	258	(48)	426	(21)
Net deferred gains/(losses)	312	318	896	528
Pre-tax gains/(losses) recognized in income
Total pre-tax gains/(losses) recognized in income	45	(9)	140	32
Gas purchased for resale
Pre-tax gains/(losses) recognized in income
Total pre-tax gains/(losses) recognized in income	(2)	2	1	4
Non-utility revenue
Pre-tax gains/(losses) recognized in income
Total pre-tax gains/(losses) recognized in income	(1)	(23)	(23)	(22)
Other operations and maintenance expense
Pre-tax gains/(losses) recognized in income
Total pre-tax gains/(losses) recognized in income	(1)	1	4	5
Other interest expense
Pre-tax gains/(losses) recognized in income
Total pre-tax gains/(losses) recognized in income	49	11	158	45
Deferred Derivative Gains, Current
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Total deferred gains/(losses)	31	296	379	443
Deferred Derivative Gains, Noncurrent
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Total deferred gains/(losses)	23	70	91	106
Deferred Derivative Losses, Current
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Total deferred gains/(losses)	41	(4)	50	25
Recoverable Energy Costs, Current
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Total deferred gains/(losses)	168	17	357	(30)
Deferred Derivative Losses, Noncurrent
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Total deferred gains/(losses)	49	(61)	19	(16)
CECONY \| Subsidiaries
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Total deferred gains/(losses)	47	345	429	512
Total deferred gains/(losses)	234	(45)	387	(20)
Net deferred gains/(losses)	281	300	816	492
Pre-tax gains/(losses) recognized in income
Total pre-tax gains/(losses) recognized in income	(1)	1	4	5
CECONY \| Gas purchased for resale \| Subsidiaries
Pre-tax gains/(losses) recognized in income
Total pre-tax gains/(losses) recognized in income	0	0	0	0
CECONY \| Non-utility revenue \| Subsidiaries
Pre-tax gains/(losses) recognized in income
Total pre-tax gains/(losses) recognized in income	0	0	0	0
CECONY \| Other operations and maintenance expense \| Subsidiaries
Pre-tax gains/(losses) recognized in income
Total pre-tax gains/(losses) recognized in income	(1)	1	4	5
CECONY \| Other interest expense \| Subsidiaries
Pre-tax gains/(losses) recognized in income
Total pre-tax gains/(losses) recognized in income	0	0	0	0
CECONY \| Deferred Derivative Gains, Current \| Subsidiaries
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Total deferred gains/(losses)	30	279	350	415
CECONY \| Deferred Derivative Gains, Noncurrent \| Subsidiaries
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Total deferred gains/(losses)	17	66	79	97
CECONY \| Deferred Derivative Losses, Current \| Subsidiaries
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Total deferred gains/(losses)	37	(3)	45	22
CECONY \| Recoverable Energy Costs, Current \| Subsidiaries
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Total deferred gains/(losses)	152	13	324	(29)
CECONY \| Deferred Derivative Losses, Noncurrent \| Subsidiaries
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Total deferred gains/(losses)	$ 45	$ (55)	$ 18	$ (13)

Current Expected Credit Losses - Rollforward of Segment Type (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Reserve adjustments			$ (12)	$ 165
Subsidiaries
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Reserve adjustments			(7)	162
Accounts receivable - customers
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	$ 336	$ 275	317	148
Recoveries	4	3	13	9
Write-offs	2	(24)	(62)	(66)
Reserve adjustments	(37)	59	37	222
Ending Balance	305	313	305	313
Other receivables
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	9	7	22	7
Recoveries	0	0	0	0
Write-offs	(2)	0	(5)	(1)
Reserve adjustments	2	0	(8)	1
Ending Balance	9	7	9	7
CECONY \| Accounts receivable - customers \| Subsidiaries
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	324	262	304	138
Recoveries	4	3	12	8
Write-offs	4	(23)	(56)	(62)
Reserve adjustments	(35)	58	37	216
Ending Balance	297	300	297	300
CECONY \| Other receivables \| Subsidiaries
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	7	4	19	4
Recoveries	0	0	0	0
Write-offs	(1)	0	(3)	0
Reserve adjustments	1	1	(9)	1
Ending Balance	$ 7	$ 5	$ 7	$ 5

Short-Term Borrowing	9 Months Ended
Short-Term Borrowing	Sep. 30, 2022
Debt Disclosure [Abstract]
Short-Term Borrowing	Short-Term Borrowing At September 30, 2022, Con Edison had $1,941 million of commercial paper outstanding of which $1,789 million was outstanding under CECONY’s program. The weighted average interest rate at September 30, 2022 was 3.4 percent for both Con Edison and CECONY. At December 31, 2021, Con Edison had $1,488 million of commercial paper outstanding of which $1,361 million was outstanding under CECONY’s program. The weighted average interest rate at December 31, 2021 was 0.3 percent for both Con Edison and CECONY. At September 30, 2022 and December 31, 2021, no loans were outstanding under the Companies' December 2016 credit agreement (Credit Agreement). An immaterial amount of letters of credit were outstanding under the Credit Agreement as of September 30, 2022 and December 31, 2021. In March 2022, CECONY entered into a 364-Day Revolving Credit Agreement (the CECONY Credit Agreement) under which banks are committed to provide loans up to $750 million on a revolving credit basis. The CECONY Credit Agreement expires on March 30, 2023 and supports CECONY’s commercial paper program. Loans issued under the CECONY Credit Agreement may also be used for other general corporate purposes. The banks’ commitments under the CECONY Credit Agreement are subject to certain conditions, including that there be no event of default and that CECONY shall have received the required regulatory approval. The commitments are not subject to maintenance of credit rating levels or the absence of a material adverse change. Upon a change of control of, or upon an event of default by CECONY, the banks may terminate their commitments and declare the loans, accrued interest and any other amounts due by CECONY immediately due and payable. Events of default include CECONY exceeding at any time a ratio of consolidated debt to consolidated total capital of 0.65 to 1; having liens on its assets in an aggregate amount exceeding five percent of its consolidated total capital, subject to certain exceptions; CECONY failing to make one or more payments in respect of material financial obligations (in excess of an aggregate $150 million of debt); cross default to other financial obligations of $150 million or more of CECONY which would permit the holder to accelerate the obligations; and other customary events of default. In June 2022, Con Edison entered into and borrowed $400 million under a 364-Day Senior Unsecured Term Loan Credit Agreement (the June 2022 Term Loan Credit Agreement) under which a bank is committed, until November 30, 2022, to provide to Con Edison one or more tranches of incremental term loans in an aggregate amount not to exceed $200 million, in addition to the $400 million borrowed on June 30, 2022. The bank’s commitments under the agreement are subject to certain conditions, including that there be no event of default. The commitments are not subject to maintenance of credit rating levels or the absence of a material adverse change. Upon a change of control of, or upon an event of default by Con Edison, the bank may terminate its commitments and declare the loans, accrued interest and any other amounts due by Con Edison immediately due and payable. Events of default include Con Edison exceeding at any time a ratio of consolidated debt to consolidated total capital of 0.65 to 1; Con Edison or its subsidiaries having liens on its or their assets in an aggregate amount exceeding 5 percent of Con Edison’s consolidated total capital, subject to certain exceptions; Con Edison or its material subsidiaries failing to make one or more payments in respect of material financial obligations (in excess of an aggregate $150 million of debt or derivative obligations other than non-recourse debt); the occurrence of an event or condition which results in the acceleration of the maturity of any material debt (in excess of an aggregate $150 million of debt other than non-recourse debt) or enables the holders of such debt to accelerate the maturity thereof; and other customary events of default. Subject to certain exceptions, the commitments and any term loans issued under the June 2022 Term Loan Credit Agreement are subject to mandatory termination and prepayment with the net cash proceeds of certain equity issuances or asset sales by Con Edison. In August 2022, the Clean Energy Businesses entered into and borrowed $150 million under a 364-Day Senior Unsecured Term Loan Credit Agreement, which is guaranteed by Con Edison and includes customary terms and conditions. Upon a change of control of the Clean Energy Businesses, the bank may declare the loan, accrued interest and any other amounts due by the Clean Energy Businesses immediately due and payable if the bank does not consent to a guarantee from the successor company, which consent may not be unreasonably withheld. Upon an event of default of the Clean Energy Businesses, the bank may declare the loan, accrued interest and any other amounts due by the Clean Energy Businesses immediately due and payable. See Note H.

Subsequent Events- Schedule of Carrying Amounts (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
CURRENT ASSETS
Non-utility property, net accumulated depreciation	$ 4,128	$ 4,194
Clean Energy Businesses \| Disposal Group, Held-for-sale, Not Discontinued Operations
CURRENT ASSETS
Cash and temporary cash investments	18
Accounts receivable and other receivables - net allowance for uncollectible accounts	204
Accrued unbilled revenue	120
Fuel oil, gas in storage, materials and supplies, at average cost	40
Restricted cash	163
Fair value of derivatives assets	58
Other current assets	173
TOTAL CURRENT ASSETS	776
Non-utility property, net accumulated depreciation	4,114
Construction work in progress	385
NET PLANT	4,499
OTHER NONCURRENT ASSETS
Goodwill	31
Intangible assets, less accumulated amortization	1,222
Operating lease right-of-use asset	266
Fair value of derivatives assets	104
Other deferred charges and noncurrent assets	22
TOTAL OTHER NONCURRENT ASSETS	1,645
TOTAL ASSETS	6,920
CURRENT LIABILITIES
Long-term debt due within one year	323
Term loan	150
Accounts payable	217
Operating lease liabilities	32
Other current liabilities	143
TOTAL CURRENT LIABILITIES	865
NONCURRENT LIABILITIES
Asset retirement obligations	76
Operating lease liabilities	248
Other deferred credits and noncurrent liabilities	20
TOTAL NONCURRENT LIABILITIES	344
LONG-TERM DEBT	2,344
TOTAL LIABILITIES	$ 3,553

Environmental Matters - Additional Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
CECONY \| Asbestos Proceedings \| Subsidiaries
Site Contingency [Line Items]
Estimated undiscounted asbestos liability (years)	15 years
Superfund Sites \| Manufactured Gas Plant Sites \| Maximum
Site Contingency [Line Items]
Estimated aggregate undiscounted potential liability related environmental contaminants (up to)		$ 2,980,000
Superfund Sites \| Manufactured Gas Plant Sites \| Maximum \| CECONY
Site Contingency [Line Items]
Estimated aggregate undiscounted potential liability related environmental contaminants (up to)		$ 2,840,000

Regulatory Matters - Schedule of Regulatory Assets Not Earning a Return (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Regulatory Assets [Line Items]
Regulatory assets not earning return	$ 1,766	$ 1,883
Subsidiaries \| CECONY
Regulatory Assets [Line Items]
Regulatory assets not earning return	1,643	1,753
Unrecognized pension and other postretirement costs
Regulatory Assets [Line Items]
Regulatory assets not earning return	24	128
Unrecognized pension and other postretirement costs \| Subsidiaries \| CECONY
Regulatory Assets [Line Items]
Regulatory assets not earning return	10	110
Environmental remediation costs
Regulatory Assets [Line Items]
Regulatory assets not earning return	913	928
Environmental remediation costs \| Subsidiaries \| CECONY
Regulatory Assets [Line Items]
Regulatory assets not earning return	833	850
Revenue taxes
Regulatory Assets [Line Items]
Regulatory assets not earning return	408	375
Revenue taxes \| Subsidiaries \| CECONY
Regulatory Assets [Line Items]
Regulatory assets not earning return	392	359
COVID-19 Deferral for Uncollectible Accounts Receivable
Regulatory Assets [Line Items]
Regulatory assets not earning return	236	236
COVID-19 Deferral for Uncollectible Accounts Receivable \| CECONY
Regulatory Assets [Line Items]
Regulatory assets not earning return	232	231
Deferred derivative losses - short term
Regulatory Assets [Line Items]
Regulatory assets not earning return	91	141
Deferred derivative losses - short term \| Subsidiaries \| CECONY
Regulatory Assets [Line Items]
Regulatory assets not earning return	88	134
Deferred derivative losses - long term
Regulatory Assets [Line Items]
Regulatory assets not earning return	32	51
Deferred derivative losses - long term \| Subsidiaries \| CECONY
Regulatory Assets [Line Items]
Regulatory assets not earning return	27	45
Other
Regulatory Assets [Line Items]
Regulatory assets not earning return	62	24
Other \| Subsidiaries \| CECONY
Regulatory Assets [Line Items]
Regulatory assets not earning return	$ 61	$ 24

Leases (Tables)

9 Months Ended

Sep. 30, 2022

Leases [Abstract]

Lease Costs, Cash Flows and Other Related Information

Operating lease cost and cash paid for amounts included in the measurement of lease liabilities for the three and nine months ended September 30, 2022 and 2021 were as follows:


	For the Three Months Ended September 30,
	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Operating lease cost	$22	$22	$17	$16
Operating lease cash flows	$11	$10	$5	$6


	For the Nine Months Ended September 30,
	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Operating lease cost	$66	$65	$50	$49
Operating lease cash flows	$28	$26	$13	$15

Other information related to leases for Con Edison and CECONY at September 30, 2022 and December 31, 2021 were as follows:


	Con Edison		CECONY
	2022	2021	2022	2021
Weighted Average Remaining Lease Term:
Operating leases	18.2 years	18.5 years	12.6 years	12.1 years
Finance leases	7.2 years	7.1 years	2.5 years	3.1 years
Weighted Average Discount Rate:
Operating leases	4.3%	4.3%	3.7%	3.5%
Finance leases	1.9%	1.8%	1.0%	1.1%

Operating Leases, Future Minimum Lease Payments

Future minimum lease payments under non-cancellable leases at September 30, 2022 were as follows:


(Millions of Dollars)	Con Edison		CECONY
Year Ending September 30,	Operating Leases	Finance Leases	Operating Leases	Finance Leases
2023	$84	$—	$63	$—
2024	81	1	62	1
2025	82	—	63	—
2026	81	—	63	—
2027	81	—	64	—
All years thereafter	963	1	472	—
Total future minimum lease payments	$1,372	$2	$787	$1
Less: imputed interest	(469)	—	(165)	—
Total	$903	$2	$622	$1
Reported as of September 30, 2022
Operating lease liabilities (current)	$131	$—	$99	$—
Operating lease liabilities (noncurrent)	772	—	523	—
Other noncurrent liabilities	—	2	—	1
Total	$903	$2	$622	$1

Finance Leases, Future Minimum Lease Payments

Future minimum lease payments under non-cancellable leases at September 30, 2022 were as follows:


(Millions of Dollars)	Con Edison		CECONY
Year Ending September 30,	Operating Leases	Finance Leases	Operating Leases	Finance Leases
2023	$84	$—	$63	$—
2024	81	1	62	1
2025	82	—	63	—
2026	81	—	63	—
2027	81	—	64	—
All years thereafter	963	1	472	—
Total future minimum lease payments	$1,372	$2	$787	$1
Less: imputed interest	(469)	—	(165)	—
Total	$903	$2	$622	$1
Reported as of September 30, 2022
Operating lease liabilities (current)	$131	$—	$99	$—
Operating lease liabilities (noncurrent)	772	—	523	—
Other noncurrent liabilities	—	2	—	1
Total	$903	$2	$622	$1

CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Net income	$ 1,427	$ 1,007
PRINCIPAL NON-CASH CHARGES/(CREDITS) TO INCOME
Depreciation and amortization	1,593	1,511
Investment loss/impairment	0	211
Deferred income taxes	317	167
Net derivative gains	(161)	(26)
Other non-cash items, net	195	7
CHANGES IN ASSETS AND LIABILITIES
Accounts receivable – customers	(140)	(387)
Allowance for uncollectible accounts – customers	(12)	165
Other receivables and other current assets	(193)	(234)
Prepayments	(588)	(576)
Accounts payable	61	(15)
Pensions and retiree benefits obligations, net	105	237
Pensions and retiree benefits contributions	(34)	(467)
Accrued taxes	(10)	(27)
Accrued interest	126	126
Distributions from equity investments	14	18
Deferred charges, noncurrent assets, leases, net and other regulatory assets	(550)	(478)
Deferred credits, noncurrent liabilities and other regulatory liabilities	468	612
Other current liabilities	0	(139)
NET CASH FLOWS FROM OPERATING ACTIVITIES	2,618	1,712
INVESTING ACTIVITIES
Utility construction expenditures	(2,844)	(2,697)
Cost of removal less salvage	(247)	(242)
Non-utility construction expenditures	(210)	(289)
Investments in electric and gas transmission projects	(48)	(16)
Proceeds from sale of assets	0	614
Divestiture of renewable electric projects, net	0	183
Other investing activities	3	10
NET CASH FLOWS USED IN INVESTING ACTIVITIES	(3,346)	(2,437)
FINANCING ACTIVITIES
Net issuance (retirement) of short-term debt	1,003	(834)
Issuance of long-term debt	0	1,979
Retirement of long-term debt	(383)	(1,904)
Debt issuance costs	0	(30)
Common stock dividends	(812)	(768)
Issuance of common shares - public offering	0	775
Issuance of common shares for stock plans	43	45
Distribution to noncontrolling interest	(28)	(15)
Sale of equity interest	0	256
NET CASH FLOWS USED IN FINANCING ACTIVITIES	(177)	(496)
CASH, TEMPORARY CASH INVESTMENTS, AND RESTRICTED CASH:
NET CHANGE FOR THE PERIOD	(905)	(1,221)
BALANCE AT BEGINNING OF PERIOD	1,146	1,436
BALANCE AT END OF PERIOD	241	215
Cash paid/(received) during the period for:
Interest	583	565
Income taxes	30	(9)
SUPPLEMENTAL DISCLOSURE OF NON-CASH INFORMATION
Construction expenditures in accounts payable	486	388
Issuance of common shares for dividend reinvestment	28	37
Software Licenses
SUPPLEMENTAL DISCLOSURE OF NON-CASH INFORMATION
Capital expenditures incurred but unpaid as of end of period	2	24
Equipment
SUPPLEMENTAL DISCLOSURE OF NON-CASH INFORMATION
Capital expenditures incurred but unpaid as of end of period	$ 17	$ 22

Related Party Transactions - Additional Information (Details) MMBTU in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) MMBTU	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Jun. 30, 2021 USD ($)	Mar. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Related Party Transaction [Line Items]
Net assets	$ 20,748,000,000		$ 20,748,000,000		$ 20,037,000,000
Subsidiaries
Related Party Transaction [Line Items]
Net assets	16,867,000,000	$ 16,220,000,000	16,867,000,000	$ 16,220,000,000	16,312,000,000	$ 16,568,000,000	$ 16,618,000,000	$ 15,924,000,000	$ 15,192,000,000	$ 14,849,000,000
CECONY
Related Party Transaction [Line Items]
Income taxes due to Con Edison			12,000,000		$ 10,000,000
Funding limit of CECONY to O&R (not to exceed)			250,000,000
CECONY \| Subsidiaries
Related Party Transaction [Line Items]
Sale of natural gas	26,000,000	17,000,000	$ 97,000,000	59,000,000
CECONY \| Related Party, Lending of Funds
Related Party Transaction [Line Items]
Lending period (not more than) (months)			12 months
CECONY \| Equity Method Investee \| Mountain Valley Pipeline LLC
Related Party Transaction [Line Items]
Amount of transaction	0	0	$ 0	0
Contract term (years)			20 years
Generating capacity per day (in dekatherms) \| MMBTU			250
CECONY \| Equity Method Investee \| Stagecoach Gas Services LLC \| Purchased Power Costs
Related Party Transaction [Line Items]
Amount of transaction		8,000,000		23,000,000
Percentage of equity interest owned					50.00%
CECONY \| Affiliated Entity \| Financial Electric Capacity Contract \| Con Edison Energy
Related Party Transaction [Line Items]
Gain (loss) on financial electric capacity contracts	1,000,000	4,000,000	$ 2,000,000	2,000,000
O&R
Related Party Transaction [Line Items]
Net assets	923,000,000		923,000,000
Outstanding loans	$ 0		$ 0		$ 0
CET Electric \| NY Transco
Related Party Transaction [Line Items]
Ownership interest, percentage	45.70%		45.70%
Amounts billed	$ 2,000,000	$ 0	$ 6,000,000	$ 0
Con Edison Gas Pipeline and Storage, LLC \| Mountain Valley Pipeline LLC
Related Party Transaction [Line Items]
Percentage of equity interest owned	9.70%		9.70%		10.20%					11.30%
Equity method investment, ownership percentage, expected decrease	8.00%		8.00%

Financial Information by Business Segment (Tables)

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Financial Data for Business Segments

The financial data for the business segments for the three and nine months ended September 30, 2022 and 2021 were as follows:


	For the Three Months Ended September 30,
	Operating revenues		Inter-segment revenues		Depreciation and amortization		Operating income/(loss)
(Millions of Dollars)	2022	2021	2022	2021	2022	2021	2022	2021
CECONY
Electric	$3,077	$2,730	$5	$5	$324	$324	$843	$834
Gas	414	307	2	2	93	82	(40)	(48)
Steam	58	55	19	18	24	23	(65)	(58)
Consolidation adjustments	—	—	(26)	(25)	—	—	—	—
Total CECONY	$3,549	$3,092	$—	$—	$441	$429	$738	$728
O&R
Electric	$252	$223	$—	$—	$18	$18	$61	$55
Gas	39	34	—	—	7	6	(10)	(8)
Total O&R	$291	$257	$—	$—	$25	$24	$51	$47
Clean Energy Businesses	$325	$264	$—	$—	$60	$58	$104	$79
Con Edison Transmission	1	1	—	—	—	—	(2)	(2)
Other (a)	(1)	(1)	—	—	(1)	1	(2)	(2)
Total Con Edison	$4,165	$3,613	$—	$—	$525	$512	$889	$850

(a) Parent company 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/(loss)
(Millions of Dollars)	2022	2021	2022	2021	2022	2021	2022	2021
CECONY
Electric	$7,401	$6,661	$14	$14	$994	$959	$1,233	$1,337
Gas	2,127	1,730	6	6	275	239	511	490
Steam	444	393	57	55	72	69	(15)	9
Consolidation adjustments	—	—	(77)	(75)	—	—	—	—
Total CECONY	$9,972	$8,784	$—	$—	$1,341	$1,267	$1,729	$1,836
O&R
Electric	$594	$522	$—	$—	$53	$52	$85	$78
Gas	219	177	—	—	20	19	25	30
Total O&R	$813	$699	$—	$—	$73	$71	$110	$108
Clean Energy Businesses	$857	$779	$—	$—	$178	$172	$248	$196
Con Edison Transmission	3	3	—	—	1	1	(8)	(7)
Other (a)	(6)	(4)	—	—	—	—	(5)	(4)
Total Con Edison	$11,639	$10,261	$—	$—	$1,593	$1,511	$2,074	$2,129

(a) Parent company and consolidation adjustments. Other does not represent a business segment.

Summary of Significant Accounting Policies and Other Matters - Narrative (Details) $ in Millions	1 Months Ended		3 Months Ended	9 Months Ended		12 Months Ended
	May 31, 2021 USD ($)	Jan. 31, 2016 mi	Mar. 31, 2022	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 30, 2021 USD ($)	Jun. 30, 2021 USD ($)	Mar. 31, 2021 USD ($)	Dec. 30, 2020 USD ($)	Dec. 31, 2019 USD ($)
Schedule of Equity Method Investments [Line Items]
Investment loss/impairment				$ 0	$ 211
Stagecoach Gas Services LLC
Schedule of Equity Method Investments [Line Items]
Goodwill, impairment loss					414
Stagecoach Gas Services LLC
Schedule of Equity Method Investments [Line Items]
Goodwill, impairment loss					211
Goodwill, impairment loss, after-tax					$ 147
Equity method investments									$ 630	$ 667
Stagecoach Gas Services LLC \| Con Edison Transmission \| Subsidiaries
Schedule of Equity Method Investments [Line Items]
Proceeds from sale	$ 1,225
Ownership percentage	50.00%			0.00%		0.00%
Stagecoach Gas Services LLC \| CET Gas \| Subsidiaries
Schedule of Equity Method Investments [Line Items]
Proceeds from sale	$ 629
Mountain Valley Pipeline LLC \| Con Edison Gas Pipeline and Storage, LLC
Schedule of Equity Method Investments [Line Items]
Ownership percentage				9.70%		10.20%	11.30%
Equity method investments												$ 530
Number of miles in pipeline construction \| mi		300
Equity method investment, ownership percentage, expected percentage				0.08
Equity method investment, project percent completion						94.00%	92.00%
Long term firm transportation contract period			20 years
Cash flows discount rate			8.30%
Investment loss/impairment						$ 231	$ 320
Equity method investment, other than temporary impairment, net of tax						162	223
Equity method investments, fair value disclosure						111	342	$ 342			$ 662
Deferred tax assets, net				$ 130		130	$ 53
Increase (decrease) in deferred tax assets						$ 77
Mountain Valley Pipeline LLC \| Con Edison Gas Pipeline and Storage, LLC \| Mountain Valley Pipeline LLC
Schedule of Equity Method Investments [Line Items]
Ownership percentage		12.50%

Regulatory Matters (Tables)

9 Months Ended

Sep. 30, 2022

Regulated Operations [Abstract]

Schedule of Regulatory Assets

Regulatory assets and liabilities at September 30, 2022 and December 31, 2021 were comprised of the following items:


	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Regulatory assets
Environmental remediation costs	$919	$938	$840	$860
System peak reduction and energy efficiency programs	546	285	546	284
Pension and other postretirement benefits deferrals	369	496	325	435
Revenue taxes	428	395	409	378
COVID-19 pandemic deferrals	275	282	272	277
Deferred storm costs	270	276	168	158
Property tax reconciliation	142	202	140	202
MTA power reliability deferral	104	140	104	140
Gas Service Line Deferred Costs	107	100	107	100
COVID-19 arrears relief program deferral	91	—	88	—
Municipal infrastructure support costs	33	44	33	44
Brooklyn Queens demand management program	33	36	33	36
Deferred derivative losses - long term	32	51	27	45
Meadowlands heater odorization project	27	29	27	29
Unrecognized pension and other postretirement costs	24	128	10	110
Non-wire alternative projects	23	23	23	23
Legacy meters	20	2	—	—
Preferred stock redemption	19	20	19	20
Recoverable REV demonstration project costs	17	16	17	15
Gate station upgrade project	14	14	14	14
Unamortized loss on reacquired debt	12	16	11	14
Other	200	146	183	132
Regulatory assets – noncurrent	3,705	3,639	3,396	3,316
Deferred derivative losses - short term	91	141	88	133
Recoverable energy costs	191	65	183	55
Regulatory assets – current	282	206	271	188
Total Regulatory Assets	$3,987	$3,845	$3,667	$3,504
Regulatory liabilities
Future income tax	$1,819	$1,984	$1,681	$1,840
Allowance for cost of removal less salvage	1,238	1,199	1,063	1,033
Unrecognized pension and other postretirement costs	429	32	368	—
Net unbilled revenue deferrals	126	209	126	209
Deferred derivative gains - long term	152	61	134	55
Pension and other postretirement benefit deferrals	130	102	85	55
2022 Late Payment Charge Deferral	92	—	92	—
Net proceeds from sale of property	78	103	77	103
System benefit charge carrying charge	72	70	67	63
Property tax refunds	37	35	35	35
TCJA net benefits*	30	125	29	123
Sales and use tax refunds	28	17	27	16
BQDM and REV Demo reconciliations	24	25	21	22
COVID-19 pandemic uncollectible reconciliation deferral	20	—	19	—
Earnings sharing - electric, gas and steam	13	13	10	10
Workers' compensation	11	8	11	8
Settlement of prudence proceeding	6	6	6	6
Energy efficiency portfolio standard unencumbered funds	5	15	7	19
Settlement of gas proceedings	4	12	4	12
Other	403	365	353	312
Regulatory liabilities – noncurrent	4,717	4,381	4,215	3,921
Deferred derivative gains - short term	521	142	482	132
Refundable energy costs	34	32	4	2
Revenue decoupling mechanism	13	11	—	—
Regulatory liabilities – current	568	185	486	134
Total Regulatory Liabilities	$5,285	$4,566	$4,701	$4,055

* See "Other Regulatory Matters," above.

Schedule of Regulatory Liabilities

Regulatory assets and liabilities at September 30, 2022 and December 31, 2021 were comprised of the following items:


	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Regulatory assets
Environmental remediation costs	$919	$938	$840	$860
System peak reduction and energy efficiency programs	546	285	546	284
Pension and other postretirement benefits deferrals	369	496	325	435
Revenue taxes	428	395	409	378
COVID-19 pandemic deferrals	275	282	272	277
Deferred storm costs	270	276	168	158
Property tax reconciliation	142	202	140	202
MTA power reliability deferral	104	140	104	140
Gas Service Line Deferred Costs	107	100	107	100
COVID-19 arrears relief program deferral	91	—	88	—
Municipal infrastructure support costs	33	44	33	44
Brooklyn Queens demand management program	33	36	33	36
Deferred derivative losses - long term	32	51	27	45
Meadowlands heater odorization project	27	29	27	29
Unrecognized pension and other postretirement costs	24	128	10	110
Non-wire alternative projects	23	23	23	23
Legacy meters	20	2	—	—
Preferred stock redemption	19	20	19	20
Recoverable REV demonstration project costs	17	16	17	15
Gate station upgrade project	14	14	14	14
Unamortized loss on reacquired debt	12	16	11	14
Other	200	146	183	132
Regulatory assets – noncurrent	3,705	3,639	3,396	3,316
Deferred derivative losses - short term	91	141	88	133
Recoverable energy costs	191	65	183	55
Regulatory assets – current	282	206	271	188
Total Regulatory Assets	$3,987	$3,845	$3,667	$3,504
Regulatory liabilities
Future income tax	$1,819	$1,984	$1,681	$1,840
Allowance for cost of removal less salvage	1,238	1,199	1,063	1,033
Unrecognized pension and other postretirement costs	429	32	368	—
Net unbilled revenue deferrals	126	209	126	209
Deferred derivative gains - long term	152	61	134	55
Pension and other postretirement benefit deferrals	130	102	85	55
2022 Late Payment Charge Deferral	92	—	92	—
Net proceeds from sale of property	78	103	77	103
System benefit charge carrying charge	72	70	67	63
Property tax refunds	37	35	35	35
TCJA net benefits*	30	125	29	123
Sales and use tax refunds	28	17	27	16
BQDM and REV Demo reconciliations	24	25	21	22
COVID-19 pandemic uncollectible reconciliation deferral	20	—	19	—
Earnings sharing - electric, gas and steam	13	13	10	10
Workers' compensation	11	8	11	8
Settlement of prudence proceeding	6	6	6	6
Energy efficiency portfolio standard unencumbered funds	5	15	7	19
Settlement of gas proceedings	4	12	4	12
Other	403	365	353	312
Regulatory liabilities – noncurrent	4,717	4,381	4,215	3,921
Deferred derivative gains - short term	521	142	482	132
Refundable energy costs	34	32	4	2
Revenue decoupling mechanism	13	11	—	—
Regulatory liabilities – current	568	185	486	134
Total Regulatory Liabilities	$5,285	$4,566	$4,701	$4,055

* See "Other Regulatory Matters," above.

Schedule of Regulatory Assets Not Earning Return

Regulatory Assets Not Earning a Return*


	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Unrecognized pension and other postretirement costs	$24	$128	$10	$110
Environmental remediation costs	913	928	833	850
Revenue taxes	408	375	392	359
COVID-19 Deferral for Uncollectible Accounts Receivable	236	236	232	231
Deferred derivative losses - current	91	141	88	134
Deferred derivative losses - long term	32	51	27	45
Other	62	24	61	24
Total	$1,766	$1,883	$1,643	$1,753

*This table presents regulatory assets not earning a return for which no cash outlay has been made.

Variable Interest Entities

9 Months Ended

Sep. 30, 2022

Equity Method Investments and Joint Ventures [Abstract]

Variable Interest Entities

The accounting rules for consolidation address the consolidation of a variable interest entity (VIE) by a business enterprise that is the primary beneficiary. A VIE is an entity that does not have a sufficient equity investment at risk to permit it to finance its activities without additional subordinated financial support, or whose equity investors lack the characteristics of a controlling financial interest. The primary beneficiary is the business enterprise that has the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and either absorbs a significant amount of the VIE’s losses or has the right to receive benefits that could be significant to the VIE.

The Companies enter into arrangements including leases, partnerships and electricity purchase agreements, with various entities. As a result of these arrangements, the Companies retain or may retain a variable interest in these entities.

CECONY

CECONY has an ongoing long-term electricity purchase agreement with Brooklyn Navy Yard Cogeneration Partners, LP, a potential VIE. In 2021, a request was made of this counterparty for information necessary to determine whether the entity was a VIE and whether CECONY is the primary beneficiary; however, the information was not made available. The payments for this contract constitute CECONY’s maximum exposure to loss with respect to the potential VIE.

Clean Energy Businesses

In June 2021, a subsidiary of the Clean Energy Businesses sold substantially all of its membership interest in a renewable electric project, and retained an equity interest of $11 million in the project which is accounted for as an equity method investment. See Note S. The earnings of the project are determined using the hypothetical liquidation at book value (HLBV) method of accounting, and such earnings were not material for the three and nine months ended September 30, 2022 and 2021. Con Edison is not the primary beneficiary since the power to direct the activities that most significantly impact the economics of the renewable electric project is not held by the Clean Energy Businesses.

HLBV Accounting

Con Edison has determined that the use of HLBV accounting is reasonable and appropriate to attribute income and loss to the tax equity investors. Using the HLBV method, the company's earnings from the projects are adjusted to reflect the income or loss allocable to the tax equity investors calculated based on how the project would allocate and distribute its cash if it were to sell all of its assets for their carrying amounts and liquidate at a particular point in

time. Under the HLBV method, the company calculates the liquidation value allocable to the tax equity investors at the beginning and end of each period based on the contractual liquidation waterfall and adjusts its income for the period to reflect the change in the liquidation value allocable to the tax equity investors.

CED Nevada Virginia

In February 2021, a subsidiary of the Clean Energy Businesses entered into an agreement relating to certain projects (CED Nevada Virginia) with a noncontrolling tax equity investor to which a percentage of earnings, tax attributes and cash flows will be allocated. CED Nevada Virginia is a consolidated entity in which Con Edison has less than a 100 percent membership interest. Con Edison is the primary beneficiary since the power to direct the activities that most significantly impact the economics of CED Nevada Virginia is held by the Clean Energy Businesses. The HLBV method of accounting resulted in income/(loss) for the three and nine months ended September 30, 2022 and 2021 as follows:


	For the Three Months Ended September 30,		For the Nine Months Ended September 30,
(Millions of Dollars)	2022	2021	2022	2021
Tax equity investor	$6	$(74)	$(36)	$(127)
After tax	5	(56)	(27)	(96)
Con Edison	(7)	74	32	127
After tax	(5)	56	24	96

Tax Equity Projects

In 2018, the Clean Energy Businesses completed its acquisition of Sempra Solar Holdings, LLC. Included in the acquisition were certain operating projects (Tax Equity Projects) with a noncontrolling tax equity investor to which a percentage of earnings, tax attributes and cash flows are allocated. The Tax Equity Projects are consolidated entities in which Con Edison has less than a 100 percent membership interest. Con Edison is the primary beneficiary since the power to direct the activities that most significantly impact the economics of the Tax Equity Projects is held by the Clean Energy Businesses. Electricity generated by the Tax Equity Projects is sold to utilities and municipalities pursuant to long-term power purchase agreements. The HLBV method of accounting resulted in income/(loss) for the three and nine months ended September 30, 2022 and 2021 as follows:


	For the Three Months Ended September 30,		For the Nine Months Ended September 30,
(Millions of Dollars)	2022	2021	2022	2021
Tax equity investor	$—	$—	$(7)	$8
After tax	—	—	(5)	6
Con Edison	16	14	44	27
After tax	12	11	33	20

At September 30, 2022 and December 31, 2021, Con Edison’s consolidated balance sheet included the following amounts associated with its VIEs:


	Tax Equity Projects
	Great Valley Solar (c)(d)		Copper Mountain - Mesquite Solar (c)(e)		CED Nevada Virginia (c)(h)
(Millions of Dollars)	2022	2021	2022	2021	2022	2021
Non-utility property, less accumulated depreciation (f)(g)	$269	$275	$420	$431	$627	$643
Other assets	40	37	168	167	61	55
Total assets (a)	$309	$312	$588	$598	$688	$698

Other liabilities	19	14	83	74	325	315
Total liabilities (b)	$19	$14	$83	$74	$325	$315

(a)The assets of the Tax Equity Projects and CED Nevada Virginia represent assets of a consolidated VIE that can be used only to settle obligations of the consolidated VIE.

(c)Con Edison did not provide any financial or other support during the year that was not previously contractually required.

Current Expected Credit Losses - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Increase in allowance for uncollectible accounts resulting from COVID-19 pandemic	$ (31.0)	$ 38.0	$ (12.0)	$ 165.0
Subsidiaries \| CECONY
Accounts, Notes, Loans and Financing Receivable [Line Items]
Increase in allowance for uncollectible accounts resulting from COVID-19 pandemic	$ (27.0)		$ (7.0)	$ 162.0

Environmental Matters

9 Months Ended

Sep. 30, 2022

Environmental Remediation Obligations [Abstract]

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 the 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, 2022 and December 31, 2021 were as follows:


	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Accrued Liabilities:
Manufactured gas plant sites	$833	$845	$744	$755
Other Superfund Sites	90	95	89	95
Total	$923	$940	$833	$850
Regulatory assets	$919	$938	$840	$860

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. The Utilities are permitted to recover or defer as regulatory assets (for subsequent recovery through rates) prudently incurred site investigation and remediation costs.

Environmental remediation costs incurred related to Superfund Sites for the three and nine months ended September 30, 2022 and 2021 were as follows:


	For the Three Months Ended September 30,
	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Remediation costs incurred	$3	$7	$3	$7


	For the Nine Months Ended September 30,
	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Remediation costs incurred	$17	$21	$16	$20

Insurance and other third-party recoveries received by Con Edison or CECONY were immaterial for the three and nine months ended September 30, 2022 and 2021.

In 2021, Con Edison and CECONY estimated that for their manufactured gas plant sites (including CECONY’s Astoria site), the aggregate undiscounted potential liability for the investigation and remediation of coal tar and/or other environmental contaminants could range up to $2,980 million and $2,840 million, respectively. 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. At September 30, 2022, Con Edison and CECONY have accrued their estimated aggregate undiscounted potential liabilities for these suits and additional suits that may be brought over the next 15 years as shown in the following table. These estimates were based upon a combination of modeling, historical data analysis and risk factor assessment. Courts have begun, and unless otherwise determined on appeal may continue, to apply different standards for determining liability in asbestos suits than the standard that applied historically. As a result, the Companies currently believe that there is a reasonable possibility of an exposure to loss in excess of the liability accrued for the suits. The Companies are unable to estimate the amount or range of such loss. In addition, certain current and former employees have claimed or are claiming workers’ compensation benefits based on alleged disability from exposure to asbestos. CECONY is permitted to defer as regulatory assets (for subsequent recovery through rates) costs incurred for its asbestos lawsuits and workers’ compensation claims.


	Con Edison		CECONY
(Millions of Dollars)	2022	2021	2022	2021
Accrued liability – asbestos suits	$8	$8	$7	$7
Regulatory assets – asbestos suits	$8	$8	$7	$7
Accrued liability – workers’ compensation	$62	$65	$59	$62
Regulatory liabilities – workers’ compensation	$11	$8	$11	$8

- 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

Reference 1: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 410
-SubTopic 30
-Section 50
-Paragraph 10
-Subparagraph (d)(5)
-URI https://asc.fasb.org/extlink&oid=6393242&loc=d3e13237-110859

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 410
-SubTopic 30
-Section 55
-Paragraph 11
-URI https://asc.fasb.org/extlink&oid=6571209&loc=d3e13644-110860

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 410
-SubTopic 30
-Section 55
-Paragraph 17
-URI https://asc.fasb.org/extlink&oid=6571209&loc=d3e13718-110860

Reference 4: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 410
-SubTopic 30
-Section 50
-Paragraph 17
-URI https://asc.fasb.org/extlink&oid=6393242&loc=d3e13328-110859

Reference 5: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 410
-SubTopic 30
-Section 50
-Paragraph 10
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=6393242&loc=d3e13237-110859

Reference 6: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 410
-SubTopic 30
-Section 50
-Paragraph 10
-Subparagraph (d)(4)
-URI https://asc.fasb.org/extlink&oid=6393242&loc=d3e13237-110859

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 410
-SubTopic 30
-Section 55
-Paragraph 16
-URI https://asc.fasb.org/extlink&oid=6571209&loc=d3e13703-110860

Reference 8: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 410
-SubTopic 30
-Section 50
-Paragraph 10
-Subparagraph (d)(3)
-URI https://asc.fasb.org/extlink&oid=6393242&loc=d3e13237-110859

Reference 9: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 410
-SubTopic 30
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=6393242&loc=d3e13319-110859

Reference 10: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 410
-SubTopic 30
-Section 50
-Paragraph 10
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6393242&loc=d3e13237-110859

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 410
-SubTopic 30
-URI https://asc.fasb.org/subtopic&trid=2175709

Reference 12: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 410
-SubTopic 30
-Section 50
-Paragraph 10
-Subparagraph (d)(2)
-URI https://asc.fasb.org/extlink&oid=6393242&loc=d3e13237-110859

Reference 13: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 410
-SubTopic 30
-Section 50
-Paragraph 10
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=6393242&loc=d3e13237-110859

Reference 14: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 410
-SubTopic 30
-Section 50
-Paragraph 11
-URI https://asc.fasb.org/extlink&oid=6393242&loc=d3e13283-110859

+ Details

Variable Interest Entities - Additional Information (Details) - Clean Energy Businesses - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Jun. 30, 2021
Variable Interest Entity [Line Items]
Equity method investments		$ 11
Variable Interest Entity, Primary Beneficiary \| Con Edison Development \| CED Nevada Virginia
Variable Interest Entity [Line Items]
Percentage of variable interests (less than)	100.00%
Variable Interest Entity, Primary Beneficiary \| Con Edison Development \| Tax Equity Projects
Variable Interest Entity [Line Items]
Percentage of variable interests (less than)	100.00%

CONSOLIDATED BALANCE SHEET (UNAUDITED) - CECONY - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
CURRENT ASSETS
Cash and temporary cash investments	$ 78	$ 992
Accounts receivable – customers, net allowance for uncollectible accounts	2,095	1,943
Other receivables, net allowance for uncollectible accounts	330	298
Taxes receivable	9	13
Accrued unbilled revenue	619	662
Fuel oil, gas in storage, materials and supplies, at average cost	533	437
Prepayments	913	295
Regulatory assets	282	206
Revenue decoupling mechanism receivable	167	190
Fair value of derivative assets	256	128
Other current assets	288	233
TOTAL CURRENT ASSETS	5,733	5,551
INVESTMENTS	805	853
UTILITY PLANT, AT ORIGINAL COST
General	4,167	4,170
TOTAL	56,476	54,239
Less: Accumulated depreciation	12,831	12,177
Net	43,645	42,062
Construction work in progress	2,234	2,152
NET UTILITY PLANT	45,879	44,214
NON-UTILITY PLANT
Non-utility property, net accumulated depreciation	4,128	4,194
NET PLANT	50,392	48,596
OTHER NONCURRENT ASSETS
Regulatory assets	3,705	3,639
Operating lease right-of-use asset	844	809
Pension and retiree benefits	2,188	1,654
Fair value of derivative assets	250	77
Other Assets, Miscellaneous, Noncurrent	185	205
TOTAL OTHER NONCURRENT ASSETS	8,833	8,116
TOTAL ASSETS	65,763	63,116
CURRENT LIABILITIES
Notes payable	1,941	1,488
Accounts payable	1,587	1,497
Customer deposits	345	300
Accrued taxes	94	104
Accrued interest	277	151
Accrued wages	117	113
Fair value of derivative liabilities	70	152
Regulatory liabilities	568	185
System benefit charge	423	423
Operating lease liabilities	131	113
Other current liabilities	464	461
TOTAL CURRENT LIABILITIES	6,890	5,427
NONCURRENT LIABILITIES
Provision for injuries and damages	176	183
Pensions and retiree benefits	688	737
Superfund and other environmental costs	923	940
Asset retirement obligations	591	577
Fair value of derivative liabilities	31	84
Deferred income taxes and unamortized investment tax credits	7,387	6,873
Operating lease liabilities	772	717
Regulatory liabilities	4,717	4,381
Deferred Credits and Other Liabilities, Noncurrent	262	257
TOTAL NONCURRENT LIABILITIES	15,547	14,749
LONG-TERM DEBT	22,350	22,604
COMMITMENTS, CONTINGENCIES, AND GUARANTEES (Note B, Note G, and Note H)
EQUITY
Common shareholders’ equity	20,748	20,037
TOTAL LIABILITIES AND EQUITY	65,763	63,116
Subsidiaries
CURRENT ASSETS
Cash and temporary cash investments	25	920
Accounts receivable – customers, net allowance for uncollectible accounts	1,982	1,841
Other receivables, net allowance for uncollectible accounts	116	121
Taxes receivable	5	5
Accrued unbilled revenue	450	549
Accounts receivable from affiliated companies	104	38
Fuel oil, gas in storage, materials and supplies, at average cost	440	369
Prepayments	771	212
Regulatory assets	271	188
Revenue decoupling mechanism receivable	167	191
Fair value of derivative assets	190	71
Other current assets	146	198
TOTAL CURRENT ASSETS	4,667	4,703
INVESTMENTS	518	608
UTILITY PLANT, AT ORIGINAL COST
General	3,842	3,854
TOTAL	52,958	50,849
Less: Accumulated depreciation	11,818	11,223
Net	41,140	39,626
Construction work in progress	2,066	1,985
NET UTILITY PLANT	43,206	41,611
NON-UTILITY PLANT
Non-utility property, net accumulated depreciation	2	2
NET PLANT	43,208	41,613
OTHER NONCURRENT ASSETS
Regulatory assets	3,396	3,316
Operating lease right-of-use asset	577	545
Pension and retiree benefits	2,178	1,677
Fair value of derivative assets	136	56
Other Assets, Miscellaneous, Noncurrent	132	137
TOTAL OTHER NONCURRENT ASSETS	6,419	5,731
TOTAL ASSETS	54,812	52,655
CURRENT LIABILITIES
Notes payable	1,789	1,361
Accounts payable	1,282	1,285
Accounts payable to affiliated companies	22	18
Customer deposits	330	285
Accrued taxes	75	78
Accrued taxes to affiliated companies	12	10
Accrued interest	236	127
Accrued wages	106	103
Fair value of derivative liabilities	50	88
Regulatory liabilities	486	134
System benefit charge	380	372
Operating lease liabilities	99	90
Other current liabilities	340	370
TOTAL CURRENT LIABILITIES	5,207	4,321
NONCURRENT LIABILITIES
Provision for injuries and damages	171	178
Pensions and retiree benefits	640	669
Superfund and other environmental costs	833	850
Asset retirement obligations	514	504
Fair value of derivative liabilities	15	40
Deferred income taxes and unamortized investment tax credits	7,223	6,796
Operating lease liabilities	523	462
Regulatory liabilities	4,215	3,921
Deferred Credits and Other Liabilities, Noncurrent	215	220
TOTAL NONCURRENT LIABILITIES	14,349	13,640
LONG-TERM DEBT	18,389	18,382
COMMITMENTS, CONTINGENCIES, AND GUARANTEES (Note B, Note G, and Note H)
EQUITY
Common shareholders’ equity	16,867	16,312
TOTAL LIABILITIES AND EQUITY	54,812	52,655
Electric
UTILITY PLANT, AT ORIGINAL COST
Utility plant, at original cost	36,346	34,938
Electric \| Subsidiaries
UTILITY PLANT, AT ORIGINAL COST
Utility plant, at original cost	34,177	32,846
Gas
UTILITY PLANT, AT ORIGINAL COST
Utility plant, at original cost	13,068	12,303
Gas \| Subsidiaries
UTILITY PLANT, AT ORIGINAL COST
Utility plant, at original cost	12,044	11,321
Steam
UTILITY PLANT, AT ORIGINAL COST
Utility plant, at original cost	2,895	2,828
Steam \| Subsidiaries
UTILITY PLANT, AT ORIGINAL COST
Utility plant, at original cost	$ 2,895	$ 2,828

Leases - Other Related Information (Details)	Sep. 30, 2022	Dec. 31, 2021
Lessee, Lease, Description [Line Items]
Weighted Average Remaining Lease Term, Operating leases	18 years 2 months 12 days	18 years 6 months
Weighted Average Remaining Lease Term, Finance leases	7 years 2 months 12 days	7 years 1 month 6 days
Weighted Average Discount Rate, Operating leases	4.30%	4.30%
Weighted Average Discount Rate, Finance leases	1.90%	1.80%
CECONY \| Subsidiaries
Lessee, Lease, Description [Line Items]
Weighted Average Remaining Lease Term, Operating leases	12 years 7 months 6 days	12 years 1 month 6 days
Weighted Average Remaining Lease Term, Finance leases	2 years 6 months	3 years 1 month 6 days
Weighted Average Discount Rate, Operating leases	3.70%	3.50%
Weighted Average Discount Rate, Finance leases	1.00%	1.10%

Derivative Instruments and Hedging Activities

9 Months Ended

Sep. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities

Derivative Instruments and Hedging ActivitiesCon Edison’s subsidiaries hedge market price fluctuations associated with physical purchases and sales of electricity, natural gas, steam and, to a lesser extent, refined fuels by using derivative instruments including futures, forwards, basis swaps, options, transmission congestion contracts and financial transmission rights contracts. These are economic hedges, for which the Utilities and the Clean Energy Business do not elect hedge accounting. The Clean Energy Businesses use interest rate swaps to manage the risks associated with interest rates related to outstanding and expected future debt issuances and borrowings. Derivatives are recognized on the consolidated balance sheet at fair value (see Note O), unless an exception is available under the accounting rules for derivatives and hedging. Qualifying derivative contracts that have been designated as normal purchases or normal sales contracts are not reported at fair value under the accounting rules.

The fair values of the Companies’ derivatives including the offsetting of assets and liabilities on the consolidated balance sheet at September 30, 2022 and December 31, 2021 were:


(Millions of Dollars)	2022				2021
Balance Sheet Location	Gross Amounts of Recognized Assets/(Liabilities)	Gross Amounts Offset	Net Amounts of Assets/ (Liabilities) (a)		Gross Amounts of Recognized Assets/(Liabilities)	Gross Amounts Offset	Net Amounts of Assets/ (Liabilities) (a)
Con Edison
Fair value of derivative assets
Current	$667	$(415)	$252	(b)(c)	$285	$(158)	$127	(b)
Noncurrent	303	(53)	250	(c)	90	(13)	77	(d)
Total fair value of derivative assets	$970	$(468)	$502		$375	$(171)	$204
Fair value of derivative liabilities
Current	$(212)	$142	$(70)	(b)	$(289)	$137	$(152)	(d)
Noncurrent	(68)	37	(31)		(94)	10	(84)	(d)
Total fair value of derivative liabilities	$(280)	$179	$(101)		$(383)	$147	$(236)
Net fair value derivative assets/(liabilities)	$690	($289)	$401		$(8)	$(24)	$(32)
CECONY
Fair value of derivative assets
Current	$521	$(335)	$186	(b)	$135	$(64)	$71	(b)
Noncurrent	181	(45)	136		71	(15)	56
Total fair value of derivative assets	$702	$(380)	$322		$206	$(79)	$127
Fair value of derivative liabilities
Current	$(134)	$84	$(50)		$(131)	$43	$(88)
Noncurrent	(50)	35	(15)		(50)	10	(40)
Total fair value of derivative liabilities	$(184)	$119	$(65)		$(181)	$53	$(128)
Net fair value derivative assets/(liabilities)	$518	$(261)	$257		$25	$(26)	$(1)

The Utilities generally recover their prudently incurred fuel, purchased power and gas costs, including hedging gains and losses, in accordance with rate provisions approved by the applicable state utility regulators. In accordance with the accounting rules for regulated operations, the Utilities record a regulatory asset or regulatory 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.

The Clean Energy Businesses record realized and unrealized gains and losses on their derivative contracts in gas purchased for resale and non-utility revenue in the reporting period in which they occur. The Clean Energy Businesses record changes in the fair value of their interest rate swaps in other interest expense at the end of each reporting period. Management believes that these derivative instruments represent economic hedges that mitigate exposure to fluctuations in commodity prices and interest rates.


		For the Three Months Ended September 30,
		Con Edison		CECONY
(Millions of Dollars)	Balance Sheet Location	2022	2021	2022	2021
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Current	Deferred derivative gains	$31	$296	$30	$279
Noncurrent	Deferred derivative gains	23	70	17	66
Total deferred gains/(losses)		$54	$366	$47	$345
Current	Deferred derivative losses	$41	$(4)	$37	$(3)
Current	Recoverable energy costs	168	17	152	13
Noncurrent	Deferred derivative losses	49	(61)	45	(55)
Total deferred gains/(losses)		$258	$(48)	$234	$(45)
Net deferred gains/(losses)		$312	$318	$281	$300
	Income Statement Location
Pre-tax gains/(losses) recognized in income
	Gas purchased for resale	$(2)	$2	$—	$—
	Non-utility revenue	(1)	(23)	—	—
	Other operations and maintenance expense	(1)	1	(1)	1
	Other interest expense (a)	49	11	—	—
Total pre-tax gains/(losses) recognized in income		$45	$(9)	($1)	$1

(a)See (b) below.


		For the Nine Months Ended September 30,
		Con Edison		CECONY
(Millions of Dollars)	Balance Sheet Location	2022	2021	2022	2021
Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations:
Current	Deferred derivative gains	$379	$443	$350	$415
Noncurrent	Deferred derivative gains	91	106	79	97
Total deferred gains/(losses)		$470	$549	$429	$512
Current	Deferred derivative losses	$50	$25	$45	$22
Current	Recoverable energy costs	357	(30)	324	(29)
Noncurrent	Deferred derivative losses	19	(16)	18	(13)
Total deferred gains/(losses)		$426	$(21)	$387	$(20)
Net deferred gains/(losses) (a)		$896	$528	$816	$492
	Income Statement Location
Pre-tax gains/(losses) recognized in income
	Gas purchased for resale	$1	$4	$—	$—
	Non-utility revenue	(23)	(22)	—	—
	Other operations and maintenance expense	4	5	4	5
	Other interest expense (b)	158	45	—	—
Total pre-tax gains/(losses) recognized in income		$140	$32	$4	$5

(b)Gains recognized in other interest expense relate to interest rate swaps at the Clean Energy Businesses. The gains recognized are consistent with the increasing interest rate environment in 2022.

The following table presents the hedged volume of Con Edison’s and CECONY’s commodity derivative transactions at September 30, 2022:


	Electric Energy (MWh) (a)(b)	Capacity (MW) (a)	Natural Gas (Dt) (a)(b)	Refined Fuels (gallons)
Con Edison	29,387,725	36,037	289,274,503	672,000
CECONY	27,281,075	22,350	272,830,000	672,000

(a)Volumes are reported net of long and short positions, except natural gas collars where the volumes of long positions are reported.

(b)Excludes electric congestion and gas basis swap contracts, which are associated with electric and gas contracts and hedged volumes.

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 Clean 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 to offset.

At September 30, 2022, Con Edison and CECONY had $859 million and $543 million of credit exposure in connection with open energy supply net receivables and hedging activities, net of collateral, respectively. Con Edison’s net credit exposure consisted of $110 million with independent system operators, $61 million with non-investment grade/non-rated counterparties, $222 million with commodity exchange brokers, and $466 million with investment-grade counterparties. CECONY’s net credit exposure consisted of $169 million with commodity exchange brokers and $374 million with investment-grade counterparties.

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 a party to provide collateral on its derivative instruments that are in a net liability position. The amount of collateral to be provided will depend on the fair value of the derivative instruments and the party’s credit ratings.


(Millions of Dollars)	Con Edison (a)	CECONY (a)
Aggregate fair value – net liabilities	$116	$55
Collateral posted	100	100
Additional collateral (b) (downgrade one level from current ratings)	25	—
Additional collateral (b)(c) (downgrade to below investment grade from current ratings)	59	20

Fair Value Measurements - Reconciliation of Assets and Liabilities Measured at Level 3 Fair Value (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 9	$ (9)	$ (11)	$ (19)
Included in earnings	(10)	21	13	20
Included in regulatory assets and liabilities	14	(17)	7	(9)
Purchases	1	0	3	0
Settlements	2	0	3	3
Transfer out of level 3			(1)	0
Ending balance	16	(5)	16	(5)
CECONY \| Subsidiaries
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	(11)	(7)	(7)	(10)
Included in earnings	(1)	1	(3)	(2)
Included in regulatory assets and liabilities	11	(11)	5	(7)
Purchases	0	0	0	0
Settlements	1	0	4	2
Transfer out of level 3			(1)	0
Ending balance	$ 0	$ (17)	$ 0	$ (17)

Regulatory Matters - Regulatory Assets (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	$ 3,705	$ 3,639
Regulatory assets – current	282	206
Total Regulatory Assets	3,987	3,845
Subsidiaries
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	3,396	3,316
Regulatory assets – current	271	188
Environmental remediation costs
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	919	938
System peak reduction and energy efficiency programs
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	546	285
Pension and other postretirement benefits deferrals
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	369	496
Revenue taxes
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	428	395
COVID-19 pandemic deferrals
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	275	282
Deferred storm costs
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	270	276
Property tax reconciliation
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	142	202
MTA power reliability deferral
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	104	140
Gas Service Line Deferred Costs
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	107	100
COVID-19 arrears relief program deferral
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	91	0
Municipal infrastructure support costs
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	33	44
Brooklyn Queens demand management program
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	33	36
Deferred derivative losses - long term
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	32	51
Meadowlands heater odorization project
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	27	29
Unrecognized pension and other postretirement costs
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	24	128
Non-wire alternative projects
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	23	23
Legacy meters
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	20	2
Preferred stock redemption
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	19	20
Recoverable REV demonstration project costs
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	17	16
Gate station upgrade project
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	14	14
Unamortized loss on reacquired debt
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	12	16
Other
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	200	146
Deferred derivative losses - short term
Regulatory Assets [Line Items]
Regulatory assets – current	91	141
Recoverable energy costs
Regulatory Assets [Line Items]
Regulatory assets – current	191	65
CECONY \| Subsidiaries
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	3,396	3,316
Regulatory assets – current	271	188
Total Regulatory Assets	3,667	3,504
CECONY \| Environmental remediation costs \| Subsidiaries
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	840	860
CECONY \| System peak reduction and energy efficiency programs \| Subsidiaries
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	546	284
CECONY \| Pension and other postretirement benefits deferrals \| Subsidiaries
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	325	435
CECONY \| Revenue taxes \| Subsidiaries
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	409	378
CECONY \| COVID-19 pandemic deferrals \| Subsidiaries
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	272	277
CECONY \| Deferred storm costs \| Subsidiaries
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	168	158
CECONY \| Property tax reconciliation \| Subsidiaries
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	140	202
CECONY \| MTA power reliability deferral \| Subsidiaries
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	104	140
CECONY \| Gas Service Line Deferred Costs \| Subsidiaries
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	107	100
CECONY \| COVID-19 arrears relief program deferral \| Subsidiaries
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	88	0
CECONY \| Municipal infrastructure support costs \| Subsidiaries
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	33	44
CECONY \| Brooklyn Queens demand management program \| Subsidiaries
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	33	36
CECONY \| Deferred derivative losses - long term \| Subsidiaries
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	27	45
CECONY \| Meadowlands heater odorization project \| Subsidiaries
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	27	29
CECONY \| Unrecognized pension and other postretirement costs \| Subsidiaries
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	10	110
CECONY \| Non-wire alternative projects \| Subsidiaries
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	23	23
CECONY \| Legacy meters \| Subsidiaries
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	0	0
CECONY \| Preferred stock redemption \| Subsidiaries
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	19	20
CECONY \| Recoverable REV demonstration project costs \| Subsidiaries
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	17	15
CECONY \| Gate station upgrade project \| Subsidiaries
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	14	14
CECONY \| Unamortized loss on reacquired debt \| Subsidiaries
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	11	14
CECONY \| Other \| Subsidiaries
Regulatory Assets [Line Items]
Regulatory assets – noncurrent	183	132
CECONY \| Deferred derivative losses - short term \| Subsidiaries
Regulatory Assets [Line Items]
Regulatory assets – current	88	133
CECONY \| Recoverable energy costs \| Subsidiaries
Regulatory Assets [Line Items]
Regulatory assets – current	$ 183	$ 55

Fair Value Measurements - Schedule of Commodity Derivatives (Details) $ in Millions	Sep. 30, 2022 USD ($) $ / MWh $ / kW-month $ / Dt	Dec. 31, 2021 USD ($)
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Fair Value of commodity derivatives	$ 1,037	$ 832
CECONY \| Subsidiaries
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Fair Value of commodity derivatives	836	728
Level 3
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Fair Value of commodity derivatives	37	17
Level 3 \| CECONY \| Subsidiaries
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Fair Value of commodity derivatives	9	$ 1
Level 3 \| Electricity \| Forward energy prices
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Fair Value of commodity derivatives	$ 17
Level 3 \| Electricity \| Forward energy prices \| Minimum
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Unobservable Inputs Range (dollar per unit) \| $ / MWh	22.25
Level 3 \| Electricity \| Forward energy prices \| Maximum
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Unobservable Inputs Range (dollar per unit) \| $ / MWh	172.80
Level 3 \| Electricity \| Forward energy prices \| CECONY \| Subsidiaries
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Fair Value of commodity derivatives	$ 4
Level 3 \| Electricity \| Forward energy prices \| CECONY \| Minimum \| Subsidiaries
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Unobservable Inputs Range (dollar per unit) \| $ / MWh	37.33
Level 3 \| Electricity \| Forward energy prices \| CECONY \| Maximum \| Subsidiaries
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Unobservable Inputs Range (dollar per unit) \| $ / MWh	172.80
Level 3 \| Electricity \| Forward capacity prices
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Fair Value of commodity derivatives	$ (4)
Level 3 \| Electricity \| Forward capacity prices \| Minimum
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Unobservable Inputs Range (dollar per unit) \| $ / kW-month	0.55
Level 3 \| Electricity \| Forward capacity prices \| Maximum
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Unobservable Inputs Range (dollar per unit) \| $ / kW-month	7.26
Level 3 \| Electricity \| Forward capacity prices \| CECONY \| Subsidiaries
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Fair Value of commodity derivatives	$ (6)
Level 3 \| Electricity \| Forward capacity prices \| CECONY \| Minimum \| Subsidiaries
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Unobservable Inputs Range (dollar per unit) \| $ / kW-month	1.10
Level 3 \| Electricity \| Forward capacity prices \| CECONY \| Maximum \| Subsidiaries
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Unobservable Inputs Range (dollar per unit) \| $ / kW-month	7.26
Level 3 \| Natural Gas \| Forward natural gas prices
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Fair Value of commodity derivatives	$ 0
Level 3 \| Natural Gas \| Forward natural gas prices \| Minimum
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Unobservable Inputs Range (dollar per unit) \| $ / Dt	3.75
Level 3 \| Natural Gas \| Forward natural gas prices \| Maximum
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Unobservable Inputs Range (dollar per unit) \| $ / Dt	21.37
Level 3 \| Transmission Congestion Contracts/Financial Transmission Rights \| Inter-zonal forward price curves adjusted for historical zonal losses
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Fair Value of commodity derivatives	$ 3
Level 3 \| Transmission Congestion Contracts/Financial Transmission Rights \| Inter-zonal forward price curves adjusted for historical zonal losses \| Minimum
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Unobservable Inputs Range (dollar per unit) \| $ / MWh	(12.89)
Level 3 \| Transmission Congestion Contracts/Financial Transmission Rights \| Inter-zonal forward price curves adjusted for historical zonal losses \| Maximum
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Unobservable Inputs Range (dollar per unit) \| $ / MWh	207.83
Level 3 \| Commodity
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Fair Value of commodity derivatives	$ 16
Level 3 \| Commodity \| CECONY \| Subsidiaries
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Fair Value of commodity derivatives	0
Level 3 \| Transmission Congestion Contracts \| Inter-zonal forward price curves adjusted for historical zonal losses \| CECONY \| Subsidiaries
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Fair Value of commodity derivatives	$ 2
Level 3 \| Transmission Congestion Contracts \| Inter-zonal forward price curves adjusted for historical zonal losses \| CECONY \| Minimum \| Subsidiaries
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Unobservable Inputs Range (dollar per unit) \| $ / MWh	1.03
Level 3 \| Transmission Congestion Contracts \| Inter-zonal forward price curves adjusted for historical zonal losses \| CECONY \| Maximum \| Subsidiaries
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Unobservable Inputs Range (dollar per unit) \| $ / MWh	5.51