| ☒ | Quarterly Report Pursuant To Section 13 or 15(d) of the Securities Exchange Act of 1934 | ||||
| ☐ | Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 | ||||
| Commission File Number | Exact name of registrant as specified in its charter and principal executive office address and telephone number | State of Incorporation | I.R.S. Employer ID. Number | |||||||||||||||||||||||||||||
| 1-14514 | Consolidated Edison, Inc. | New York | 13-3965100 | |||||||||||||||||||||||||||||
| 4 Irving Place, | New York, | New York | 10003 | |||||||||||||||||||||||||||||
| (212) | 460-4600 | |||||||||||||||||||||||||||||||
| 1-01217 | Consolidated Edison Company of New York, Inc. | New York | 13-5009340 | |||||||||||||||||||||||||||||
| 4 Irving Place, | New York, | New York | 10003 | |||||||||||||||||||||||||||||
| (212) | 460-4600 | |||||||||||||||||||||||||||||||
| Title of each class | Trading Symbol | Name of each exchange on which registered | ||||||||||||
Consolidated Edison, Inc. | ED | New York Stock Exchange | ||||||||||||
| Common Shares ($.10 par value) | ||||||||||||||
| Consolidated Edison, Inc. (Con Edison) | Yes | ☒ | No ☐ | ||||||||
| Consolidated Edison Company of New York, Inc. (CECONY) | Yes | ☒ | No ☐ | ||||||||
| Con Edison | Yes | ☒ | No ☐ | ||||||||
| CECONY | Yes | ☒ | No ☐ | ||||||||
| Con Edison | ||||||||||||||||||||
| Large accelerated filer | ☒ | Accelerated filer ☐ | Non-accelerated filer | ☐ | ||||||||||||||||
| Smaller reporting company | ☐ | Emerging growth company | ☐ | |||||||||||||||||
| CECONY | ||||||||||||||||||||
Large accelerated filer | ☐ | Accelerated filer ☐ | Non-accelerated filer | ☒ | ||||||||||||||||
| Smaller reporting company | ☐ | Emerging growth company | ☐ | |||||||||||||||||
| Con Edison | Yes | ☐ | No | ☒ | ||||||||||
| CECONY | Yes | ☐ | No | ☒ | ||||||||||
| Environmental | ||||||||
| GHG | Greenhouse gases | |||||||
| Superfund | Federal Comprehensive Environmental Response, Compensation and Liability Act of 1980 and similar state statutes | |||||||
| Units of Measure | ||||||||
| Dt | Dekatherm | |||||||
| kV | Kilovolt | |||||||
| kWh | Kilowatt-hour | |||||||
| MMlb | Million pounds | |||||||
| MW | Megawatt or thousand kilowatts | |||||||
| MWh | Megawatt hour | |||||||
| Other | ||||||||
| COVID-19 | Coronavirus Disease 2019 and any mutations or variants thereof | |||||||
| Third Quarter Financial Statements | Consolidated financial statements included in the Companies' Quarterly Report on Form 10-Q for the quarterly period ended September 30 of the current year | |||||||
| IRA | The federal Inflation Reduction Act, as enacted on August 16, 2022 | |||||||
| OBBBA | The federal One Big Beautiful Bill Act, as enacted on July 4, 2025 | |||||||
| TCJA | The federal Tax Cuts and Jobs Act of 2017, as enacted on December 22, 2017 | |||||||
| PAGE | ||||||||
| ITEM 1 | Financial Statements (Unaudited) | |||||||
| Con Edison | ||||||||
| CECONY | ||||||||
| ITEM 2 | ||||||||
| ITEM 3 | ||||||||
| ITEM 4 | ||||||||
| ITEM 1 | ||||||||
| ITEM 1A | ||||||||
| ITEM 6 | ||||||||
| For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||||||||||||
| (Millions of Dollars/Except Share Data) | 2025 | 2024 | 2025 | 2024 | ||||||||||
| OPERATING REVENUES | ||||||||||||||
| Electric | $4,040 | $3,669 | $9,718 | $8,849 | ||||||||||
| Gas | 433 | 373 | 2,686 | 2,312 | ||||||||||
| Steam | 56 | 49 | 517 | 423 | ||||||||||
| Non-utility | 1 | 1 | 3 | 3 | ||||||||||
| TOTAL OPERATING REVENUES | 4,530 | 4,092 | 12,924 | 11,587 | ||||||||||
| OPERATING EXPENSES | ||||||||||||||
| Purchased power | 905 | 743 | 2,276 | 1,942 | ||||||||||
| Fuel | 40 | 27 | 194 | 130 | ||||||||||
| Gas purchased for resale | 113 | 67 | 646 | 402 | ||||||||||
| Other operations and maintenance | 965 | 986 | 2,840 | 2,841 | ||||||||||
| Depreciation and amortization | 586 | 550 | 1,726 | 1,601 | ||||||||||
| Taxes, other than income taxes | 953 | 857 | 2,794 | 2,448 | ||||||||||
| TOTAL OPERATING EXPENSES | 3,562 | 3,230 | 10,476 | 9,364 | ||||||||||
| Loss on sale of the Clean Energy Businesses | — | — | — | (30) | ||||||||||
| OPERATING INCOME | 968 | 862 | 2,448 | 2,193 | ||||||||||
| OTHER INCOME (DEDUCTIONS) | ||||||||||||||
| Investment income | 18 | 17 | 51 | 46 | ||||||||||
| Other income | 208 | 157 | 623 | 476 | ||||||||||
| Allowance for equity funds used during construction | 16 | 8 | 52 | 29 | ||||||||||
| Other deductions | (11) | (17) | (33) | (44) | ||||||||||
| TOTAL OTHER INCOME | 231 | 165 | 693 | 507 | ||||||||||
| INCOME BEFORE INTEREST AND INCOME TAX EXPENSE | 1,199 | 1,027 | 3,141 | 2,700 | ||||||||||
| INTEREST EXPENSE (INCOME) | ||||||||||||||
| Interest on long-term debt | 292 | 275 | 875 | 797 | ||||||||||
| Other interest expense | 31 | 47 | 96 | 131 | ||||||||||
| Allowance for borrowed funds used during construction | (14) | (16) | (49) | (45) | ||||||||||
| NET INTEREST EXPENSE | 309 | 306 | 922 | 883 | ||||||||||
| INCOME BEFORE INCOME TAX EXPENSE | 890 | 721 | 2,219 | 1,817 | ||||||||||
| INCOME TAX EXPENSE | 202 | 133 | 493 | 307 | ||||||||||
| NET INCOME FOR COMMON STOCK | $688 | $588 | $1,726 | $1,510 | ||||||||||
| Net income per common share - basic | $1.91 | $1.70 | $4.84 | $4.37 | ||||||||||
| Net income per common share - diluted | $1.90 | $1.69 | $4.83 | $4.35 | ||||||||||
| AVERAGE NUMBER OF SHARES OUTSTANDING—BASIC (IN MILLIONS) | 360.7 | 346.2 | 356.4 | 345.9 | ||||||||||
| AVERAGE NUMBER OF SHARES OUTSTANDING—DILUTED (IN MILLIONS) | 361.9 | 347.5 | 357.6 | 347.2 | ||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||
| (Millions of Dollars) | 2025 | 2024 | 2025 | 2024 | ||||||||||
| NET INCOME | $688 | $588 | $1,726 | $1,510 | ||||||||||
| OTHER COMPREHENSIVE LOSS, NET OF TAXES | ||||||||||||||
| Pension and other postretirement benefit plan liability adjustments, net of taxes | — | — | (12) | (4) | ||||||||||
| TOTAL OTHER COMPREHENSIVE LOSS, NET OF TAXES | — | — | (12) | (4) | ||||||||||
| COMPREHENSIVE INCOME | $688 | $588 | $1,714 | $1,506 | ||||||||||
| For the Nine Months Ended September 30, | ||||||||
| (Millions of Dollars) | 2025 | 2024 | ||||||
| OPERATING ACTIVITIES | ||||||||
| Net income | $1,726 | $1,510 | ||||||
| PRINCIPAL NON-CASH CHARGES (CREDITS) TO INCOME | ||||||||
| Depreciation and amortization | 1,726 | 1,601 | ||||||
| Deferred income taxes | 498 | 448 | ||||||
| Rate case amortization and accruals | 194 | 174 | ||||||
| Pre-tax loss on sale of the Clean Energy Businesses | — | 30 | ||||||
| Other non-cash items, net | (159) | (107) | ||||||
| CHANGES IN ASSETS AND LIABILITIES | ||||||||
| Accounts receivable – customers, net | 103 | (230) | ||||||
| Other receivables, net and other current assets | 173 | 244 | ||||||
| Taxes receivable | 144 | — | ||||||
| Unbilled revenue and net unbilled revenue deferrals | 18 | 31 | ||||||
| Prepayments | (700) | (902) | ||||||
| Accounts payable | (128) | (199) | ||||||
| Pensions and retiree benefits obligations, net | (423) | (185) | ||||||
| Pensions and retiree benefits contributions | (20) | (21) | ||||||
| Accrued taxes | (4) | (14) | ||||||
| Accrued interest | 138 | 159 | ||||||
| Superfund and other environmental costs, net | (10) | (27) | ||||||
| Distributions from equity investments | 51 | 15 | ||||||
| Deferred charges, noncurrent assets, leases, net and other regulatory assets | (265) | (553) | ||||||
| Deferred credits, noncurrent liabilities and other regulatory liabilities | 181 | 400 | ||||||
| Other current liabilities | 77 | (70) | ||||||
| NET CASH FLOWS FROM OPERATING ACTIVITIES | 3,320 | 2,304 | ||||||
| INVESTING ACTIVITIES | ||||||||
| Utility capital expenditures | (3,460) | (3,533) | ||||||
| Cost of removal less salvage | (335) | (335) | ||||||
| Proceeds from sale of Broken Bow II, net of cash and cash equivalents sold | 45 | — | ||||||
| Other investing activities | (36) | (21) | ||||||
| NET CASH FLOWS USED IN INVESTING ACTIVITIES | (3,786) | (3,889) | ||||||
| FINANCING ACTIVITIES | ||||||||
| Net payment of short-term debt | (1,618) | (229) | ||||||
| Issuance of long-term debt | 250 | 1,525 | ||||||
| Borrowing under term loan | 200 | — | ||||||
| Debt issuance costs | (3) | (25) | ||||||
| Common stock dividends | (871) | (824) | ||||||
| Issuance of common shares - public offering | 1,308 | — | ||||||
| Issuance of common shares for stock plans | 49 | 45 | ||||||
| NET CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES | (685) | 492 | ||||||
| CASH, TEMPORARY CASH INVESTMENTS, AND RESTRICTED CASH: | ||||||||
| NET CHANGE FOR THE PERIOD | (1,151) | (1,093) | ||||||
| BALANCE AT BEGINNING OF PERIOD | 1,333 | 1,195 | ||||||
| BALANCE AT END OF PERIOD | $182 | $102 | ||||||
| LESS: CHANGE IN CASH AND RESTRICTED CASH BALANCES HELD FOR SALE | — | 9 | ||||||
| BALANCE AT END OF PERIOD EXCLUDING HELD FOR SALE | $182 | $93 | ||||||
| SUPPLEMENTAL DISCLOSURE OF CASH INFORMATION | ||||||||
| Cash paid (received) during the period for: | ||||||||
| Interest, net of capitalized interest | $726 | $657 | ||||||
| Income taxes | $(167) | $6 | ||||||
| SUPPLEMENTAL DISCLOSURE OF NON-CASH INFORMATION | ||||||||
| Capital expenditures in accounts payable | $720 | $496 | ||||||
| Issuance of common shares for dividend reinvestment | $37 | $37 | ||||||
| Equipment acquired but unpaid as of end of period | $— | $6 | ||||||
| (Millions of Dollars) | September 30, 2025 | December 31, 2024 | ||||||
| ASSETS | ||||||||
| CURRENT ASSETS | ||||||||
| Cash and temporary cash investments | $181 | $1,324 | ||||||
Accounts receivable – customers, net allowance for uncollectible accounts of $610 and $620 in 2025 and 2024, respectively | 2,347 | 2,440 | ||||||
Other receivables, net allowance for uncollectible accounts of $60 and $41 in 2025 and 2024, respectively | 169 | 292 | ||||||
| Accrued unbilled revenue | 652 | 848 | ||||||
Taxes receivable | 1 | 145 | ||||||
| Fuel oil, gas in storage, materials and supplies, at average cost | 516 | 485 | ||||||
| Prepayments | 1,145 | 445 | ||||||
| Regulatory assets | 118 | 141 | ||||||
| Restricted cash | 1 | — | ||||||
| Revenue decoupling mechanism receivable | 177 | 202 | ||||||
| Fair value of derivative assets | 14 | 15 | ||||||
| Assets held for sale | — | 133 | ||||||
| Other current assets | 139 | 194 | ||||||
| TOTAL CURRENT ASSETS | 5,460 | 6,664 | ||||||
| INVESTMENTS | 1,229 | 1,126 | ||||||
| UTILITY PLANT, AT ORIGINAL COST | ||||||||
| Electric | 43,387 | 41,206 | ||||||
| Gas | 15,740 | 15,127 | ||||||
| Steam | 3,220 | 3,187 | ||||||
| General | 5,021 | 4,851 | ||||||
| TOTAL | 67,368 | 64,371 | ||||||
| Less: Accumulated depreciation | 16,160 | 15,384 | ||||||
| Net | 51,208 | 48,987 | ||||||
| Construction work in progress | 3,177 | 3,165 | ||||||
| NET UTILITY PLANT | 54,385 | 52,152 | ||||||
| NON-UTILITY PLANT | ||||||||
Non-utility property, net accumulated depreciation of $25 in 2025 and 2024 | 11 | 12 | ||||||
| Construction work in progress | 1 | 1 | ||||||
| NET PLANT | 54,397 | 52,165 | ||||||
| OTHER NONCURRENT ASSETS | ||||||||
| Goodwill | 408 | 408 | ||||||
| Regulatory assets | 5,554 | 5,523 | ||||||
| Pension and retiree benefits | 3,913 | 3,791 | ||||||
| Operating lease right-of-use asset | 466 | 493 | ||||||
| Fair value of derivative assets | 37 | 27 | ||||||
| Other deferred charges and noncurrent assets | 380 | 365 | ||||||
| TOTAL OTHER NONCURRENT ASSETS | 10,758 | 10,607 | ||||||
| TOTAL ASSETS | $71,844 | $70,562 | ||||||
| (Millions of Dollars) | September 30, 2025 | December 31, 2024 | ||||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||
| CURRENT LIABILITIES | ||||||||
| Term loan | $700 | $500 | ||||||
| Notes payable | 552 | 2,170 | ||||||
| Accounts payable | 1,583 | 1,676 | ||||||
| Customer deposits | 484 | 412 | ||||||
| Accrued taxes | 67 | 70 | ||||||
| Accrued interest | 337 | 199 | ||||||
| Accrued wages | 147 | 127 | ||||||
| Fair value of derivative liabilities | 73 | 52 | ||||||
| Regulatory liabilities | 123 | 102 | ||||||
| System benefit charge | 438 | 447 | ||||||
| Operating lease liabilities | 120 | 118 | ||||||
| Liabilities held for sale | — | 79 | ||||||
| Other current liabilities | 455 | 481 | ||||||
| TOTAL CURRENT LIABILITIES | 5,079 | 6,433 | ||||||
| NONCURRENT LIABILITIES | ||||||||
| Provision for injuries and damages | 174 | 181 | ||||||
| Pensions and retiree benefits | 552 | 551 | ||||||
| Superfund and other environmental costs | 1,029 | 1,037 | ||||||
| Asset retirement obligations | 467 | 453 | ||||||
| Fair value of derivative liabilities | 56 | 96 | ||||||
| Deferred income taxes and unamortized investment tax credits | 9,493 | 8,874 | ||||||
| Operating lease liabilities | 394 | 386 | ||||||
| Regulatory liabilities | 4,946 | 5,444 | ||||||
| Other deferred credits and noncurrent liabilities | 577 | 494 | ||||||
| TOTAL NONCURRENT LIABILITIES | 17,688 | 17,516 | ||||||
| LONG-TERM DEBT | 24,909 | 24,651 | ||||||
| COMMITMENTS, CONTINGENCIES, AND GUARANTEES (Note B, Note G, and Note H) | ||||||||
| SHAREHOLDERS' EQUITY (See Consolidated Statement of Shareholders' Equity) | 24,168 | 21,962 | ||||||
| TOTAL LIABILITIES AND EQUITY | $71,844 | $70,562 | ||||||
| (In Millions, except for dividends per share) | Common Stock | Additional Paid-In Capital | Retained Earnings | Treasury Stock | Capital Stock Expense | Accumulated Other Comprehensive Income (Loss) | Total | ||||||||||||||||||||||
| Shares | Amount | Shares | Amount | ||||||||||||||||||||||||||
| BALANCE AS OF DECEMBER 31, 2023 | 345 | $37 | $9,861 | $13,377 | 34 | $(2,017) | $(122) | $22 | $21,158 | ||||||||||||||||||||
| Net income | 720 | 720 | |||||||||||||||||||||||||||
Common stock dividends ($0.83 per share) | (287) | (287) | |||||||||||||||||||||||||||
| Issuance of common shares for stock plans | 1 | 1 | 27 | 28 | |||||||||||||||||||||||||
| Other comprehensive loss | (4) | (4) | |||||||||||||||||||||||||||
| BALANCE AS OF MARCH 31, 2024 | 346 | $38 | $9,888 | $13,810 | 34 | $(2,017) | $(122) | $18 | $21,615 | ||||||||||||||||||||
| Net income | 202 | 202 | |||||||||||||||||||||||||||
Common stock dividends ($0.83 per share) | (287) | (287) | |||||||||||||||||||||||||||
| Issuance of common shares for stock plans | 30 | 30 | |||||||||||||||||||||||||||
| BALANCE AS OF JUNE 30, 2024 | 346 | $38 | $9,918 | $13,725 | 34 | $(2,017) | $(122) | $18 | $21,560 | ||||||||||||||||||||
| Net income | 588 | 588 | |||||||||||||||||||||||||||
Common stock dividends ($0.83 per share) | (287) | (287) | |||||||||||||||||||||||||||
| Issuance of common shares for stock plans | 26 | 26 | |||||||||||||||||||||||||||
| Stock awards | 11 | 11 | |||||||||||||||||||||||||||
| BALANCE AS OF SEPTEMBER 30, 2024 | 346 | $38 | $9,955 | $14,026 | 34 | $(2,017) | $(122) | $18 | $21,898 | ||||||||||||||||||||
| BALANCE AS OF DECEMBER 31, 2024 | 347 | $38 | $9,986 | $14,048 | 34 | $(2,017) | $(122) | $29 | $21,962 | ||||||||||||||||||||
| Net income | 791 | 791 | |||||||||||||||||||||||||||
Common stock dividends ($0.85 per share) | (295) | (295) | |||||||||||||||||||||||||||
| Issuance of common shares - public offering | 13 | 1,326 | (18) | 1,308 | |||||||||||||||||||||||||
| Issuance of common shares for stock plans | 1 | 28 | 29 | ||||||||||||||||||||||||||
| Other comprehensive loss | (12) | (12) | |||||||||||||||||||||||||||
| BALANCE AS OF MARCH 31, 2025 | 360 | $39 | $11,340 | $14,544 | 34 | $(2,017) | $(140) | $17 | $23,783 | ||||||||||||||||||||
| Net income | 246 | 246 | |||||||||||||||||||||||||||
Common stock dividends ($0.85 per share) | (306) | (306) | |||||||||||||||||||||||||||
| Issuance of common shares for stock plans | 1 | 30 | 30 | ||||||||||||||||||||||||||
| Stock awards | 3 | 3 | |||||||||||||||||||||||||||
| BALANCE AS OF JUNE 30, 2025 | 361 | $39 | $11,373 | $14,484 | 34 | $(2,017) | $(140) | $17 | $23,756 | ||||||||||||||||||||
| Net income | 688 | 688 | |||||||||||||||||||||||||||
Common stock dividends ($0.85 per share) | (307) | (307) | |||||||||||||||||||||||||||
| Issuance of common shares for stock plans | 29 | 29 | |||||||||||||||||||||||||||
| Stock awards | 2 | 2 | |||||||||||||||||||||||||||
| BALANCE AS OF SEPTEMBER 30, 2025 | 361 | $39 | $11,404 | $14,865 | 34 | $(2,017) | $(140) | $17 | $24,168 | ||||||||||||||||||||
| For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||||||||||||
| (Millions of Dollars) | 2025 | 2024 | 2025 | 2024 | ||||||||||
| OPERATING REVENUES | ||||||||||||||
| Electric | $3,733 | $3,376 | $9,000 | $8,188 | ||||||||||
| Gas | 392 | 337 | 2,446 | 2,119 | ||||||||||
| Steam | 56 | 49 | 517 | 423 | ||||||||||
| TOTAL OPERATING REVENUES | 4,181 | 3,762 | 11,963 | 10,730 | ||||||||||
| OPERATING EXPENSES | ||||||||||||||
| Purchased power | 777 | 642 | 1,991 | 1,718 | ||||||||||
| Fuel | 40 | 27 | 194 | 130 | ||||||||||
| Gas purchased for resale | 97 | 59 | 551 | 352 | ||||||||||
| Other operations and maintenance | 871 | 880 | 2,551 | 2,539 | ||||||||||
| Depreciation and amortization | 554 | 520 | 1,631 | 1,512 | ||||||||||
| Taxes, other than income taxes | 928 | 831 | 2,717 | 2,372 | ||||||||||
| TOTAL OPERATING EXPENSES | 3,267 | 2,959 | 9,635 | 8,623 | ||||||||||
| OPERATING INCOME | 914 | 803 | 2,328 | 2,107 | ||||||||||
| OTHER INCOME (DEDUCTIONS) | ||||||||||||||
| Investment and other income | 198 | 149 | 590 | 452 | ||||||||||
| Allowance for equity funds used during construction | 14 | 7 | 48 | 25 | ||||||||||
| Other deductions | (11) | (18) | (30) | (41) | ||||||||||
| TOTAL OTHER INCOME | 201 | 138 | 608 | 436 | ||||||||||
| INCOME BEFORE INTEREST AND INCOME TAX EXPENSE | 1,115 | 941 | 2,936 | 2,543 | ||||||||||
| INTEREST EXPENSE (INCOME) | ||||||||||||||
| Interest on long-term debt | 276 | 262 | 830 | 757 | ||||||||||
| Other interest expense | 25 | 38 | 83 | 108 | ||||||||||
| Allowance for borrowed funds used during construction | (12) | (15) | (45) | (40) | ||||||||||
| NET INTEREST EXPENSE | 289 | 285 | 868 | 825 | ||||||||||
| INCOME BEFORE INCOME TAX EXPENSE | 826 | 656 | 2,068 | 1,718 | ||||||||||
| INCOME TAX EXPENSE | 187 | 119 | 462 | 301 | ||||||||||
| NET INCOME | $639 | $537 | $1,606 | $1,417 | ||||||||||
| For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||||||||||||
| (Millions of Dollars) | 2025 | 2024 | 2025 | 2024 | ||||||||||
| NET INCOME | $639 | $537 | $1,606 | $1,417 | ||||||||||
| OTHER COMPREHENSIVE LOSS, NET OF TAXES | ||||||||||||||
| Pension and other postretirement benefit plan liability adjustments, net of taxes | — | — | (8) | — | ||||||||||
| TOTAL OTHER COMPREHENSIVE LOSS, NET OF TAXES | — | — | (8) | — | ||||||||||
| COMPREHENSIVE INCOME | $639 | $537 | $1,598 | $1,417 | ||||||||||
| For the Nine Months Ended September 30, | ||||||||
| (Millions of Dollars) | 2025 | 2024 | ||||||
| OPERATING ACTIVITIES | ||||||||
| Net income | $1,606 | $1,417 | ||||||
| PRINCIPAL NON-CASH CHARGES (CREDITS) TO INCOME | ||||||||
| Depreciation and amortization | 1,631 | 1,512 | ||||||
| Deferred income taxes | 365 | 553 | ||||||
| Rate case amortization and accruals | 197 | 156 | ||||||
| Other non-cash items, net | (108) | (58) | ||||||
| CHANGES IN ASSETS AND LIABILITIES | ||||||||
| Accounts receivable – customers, net | 104 | (221) | ||||||
| Other receivables, net and other current assets | 99 | 186 | ||||||
| Unbilled revenue and net unbilled revenue deferrals | 12 | 37 | ||||||
| Accounts receivable from (to) affiliated companies | 321 | (335) | ||||||
| Prepayments | (668) | (714) | ||||||
| Accounts payable | (114) | (206) | ||||||
| Accounts payable from (to) affiliated companies | (4) | 2 | ||||||
| Pensions and retiree benefits obligations, net | (404) | (196) | ||||||
| Pensions and retiree benefits contributions | (20) | (21) | ||||||
| Superfund and other environmental costs, net | (13) | (27) | ||||||
| Accrued taxes | (4) | (7) | ||||||
| Accrued interest | 133 | 156 | ||||||
| Deferred charges, noncurrent assets, leases, net and other regulatory assets | (283) | (444) | ||||||
| Deferred credits, noncurrent liabilities and other regulatory liabilities | 172 | 363 | ||||||
| Other current liabilities | 89 | (66) | ||||||
| NET CASH FLOWS FROM OPERATING ACTIVITIES | 3,111 | 2,087 | ||||||
| INVESTING ACTIVITIES | ||||||||
| Utility capital expenditures | (3,169) | (3,312) | ||||||
| Cost of removal less salvage | (328) | (330) | ||||||
| NET CASH FLOWS USED IN INVESTING ACTIVITIES | (3,497) | (3,642) | ||||||
| FINANCING ACTIVITIES | ||||||||
| Net payment of short-term debt | (1,450) | (227) | ||||||
| Borrowing under term loan | 200 | — | ||||||
| Issuance of long-term debt | — | 1,400 | ||||||
| Debt issuance costs | (2) | (24) | ||||||
| Capital contribution by Con Edison | 1,275 | 105 | ||||||
| Dividend to Con Edison | (852) | (804) | ||||||
| NET CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES | (829) | 450 | ||||||
| CASH AND TEMPORARY CASH INVESTMENTS | ||||||||
| NET CHANGE FOR THE PERIOD | (1,215) | (1,105) | ||||||
| BALANCE AT BEGINNING OF PERIOD | 1,254 | 1,138 | ||||||
| BALANCE AT END OF PERIOD | $39 | $33 | ||||||
| SUPPLEMENTAL DISCLOSURE OF CASH INFORMATION | ||||||||
| Cash paid (received) during the period for: | ||||||||
| Interest, net of capitalized interest | $677 | $607 | ||||||
| Income taxes | $(183) | $64 | ||||||
| SUPPLEMENTAL DISCLOSURE OF NON-CASH INFORMATION | ||||||||
| Capital expenditures in accounts payable | $658 | $469 | ||||||
| Equipment acquired but unpaid as of end of period | $— | $6 | ||||||
| (Millions of Dollars) | September 30, 2025 | December 31, 2024 | ||||||
| ASSETS | ||||||||
| CURRENT ASSETS | ||||||||
| Cash and temporary cash investments | $39 | $1,254 | ||||||
Accounts receivable – customers, net allowance for uncollectible accounts of $600 and $605 in 2025 and 2024, respectively | 2,243 | 2,342 | ||||||
Other receivables, net allowance for uncollectible accounts of $53 and $38 in 2025 and 2024, respectively | 143 | 216 | ||||||
| Accrued unbilled revenue | 606 | 803 | ||||||
| Accounts receivable from affiliated companies | 63 | 384 | ||||||
| Fuel oil, gas in storage, materials and supplies, at average cost | 462 | 429 | ||||||
| Prepayments | 1,063 | 395 | ||||||
| Regulatory assets | 110 | 106 | ||||||
| Revenue decoupling mechanism receivable | 168 | 177 | ||||||
| Fair value of derivative assets | 11 | 11 | ||||||
| Other current assets | 131 | 181 | ||||||
| TOTAL CURRENT ASSETS | 5,039 | 6,298 | ||||||
| INVESTMENTS | 753 | 684 | ||||||
| UTILITY PLANT, AT ORIGINAL COST | ||||||||
| Electric | 40,816 | 38,747 | ||||||
| Gas | 14,486 | 13,934 | ||||||
| Steam | 3,220 | 3,187 | ||||||
| General | 4,684 | 4,520 | ||||||
| TOTAL | 63,206 | 60,388 | ||||||
| Less: Accumulated depreciation | 15,048 | 14,319 | ||||||
| Net | 48,158 | 46,069 | ||||||
| Construction work in progress | 2,822 | 2,912 | ||||||
| NET UTILITY PLANT | 50,980 | 48,981 | ||||||
| NON-UTILITY PROPERTY | ||||||||
Non-utility property, net accumulated depreciation of $25 in 2025 and 2024 | 2 | 2 | ||||||
| NET PLANT | 50,982 | 48,983 | ||||||
| OTHER NONCURRENT ASSETS | ||||||||
| Regulatory assets | 5,197 | 5,158 | ||||||
| Operating lease right-of-use asset | 465 | 492 | ||||||
| Pension and retiree benefits | 3,821 | 3,692 | ||||||
| Fair value of derivative assets | 33 | 25 | ||||||
| Other deferred charges and noncurrent assets | 346 | 318 | ||||||
| TOTAL OTHER NONCURRENT ASSETS | 9,862 | 9,685 | ||||||
| TOTAL ASSETS | $66,636 | $65,650 | ||||||
| (Millions of Dollars) | September 30, 2025 | December 31, 2024 | ||||||
| LIABILITIES AND SHAREHOLDER’S EQUITY | ||||||||
| CURRENT LIABILITIES | ||||||||
Term Loan | $700 | $500 | ||||||
| Notes payable | 244 | 1,694 | ||||||
| Accounts payable | 1,434 | 1,534 | ||||||
| Accounts payable to affiliated companies | 18 | 22 | ||||||
| Customer deposits | 469 | 397 | ||||||
| Accrued taxes | 61 | 65 | ||||||
| Accrued taxes to affiliated companies | 1 | 1 | ||||||
| Accrued interest | 318 | 185 | ||||||
| Accrued wages | 134 | 116 | ||||||
| Fair value of derivative liabilities | 66 | 44 | ||||||
| Regulatory liabilities | 73 | 40 | ||||||
| System benefit charge | 400 | 406 | ||||||
| Operating lease liabilities | 120 | 118 | ||||||
| Other current liabilities | 420 | 437 | ||||||
| TOTAL CURRENT LIABILITIES | 4,458 | 5,559 | ||||||
| NONCURRENT LIABILITIES | ||||||||
| Provision for injuries and damages | 170 | 176 | ||||||
| Pensions and retiree benefits | 509 | 506 | ||||||
| Superfund and other environmental costs | 935 | 942 | ||||||
| Asset retirement obligations | 466 | 452 | ||||||
| Fair value of derivative liabilities | 49 | 84 | ||||||
| Deferred income taxes and unamortized investment tax credits | 9,298 | 8,819 | ||||||
| Operating lease liabilities | 393 | 386 | ||||||
| Regulatory liabilities | 4,466 | 4,940 | ||||||
| Other deferred credits and noncurrent liabilities | 477 | 406 | ||||||
| TOTAL NONCURRENT LIABILITIES | 16,763 | 16,711 | ||||||
| LONG-TERM DEBT | 23,418 | 23,409 | ||||||
COMMITMENTS AND CONTINGENCIES (Note B, Note G and Note H) | ||||||||
SHAREHOLDER’S EQUITY (See Consolidated Statement of Shareholder’s Equity) | 21,997 | 19,971 | ||||||
| TOTAL LIABILITIES AND SHAREHOLDER’S EQUITY | $66,636 | $65,650 | ||||||
| Common Stock | Additional Paid-In Capital | Retained Earnings | Repurchased Con Edison Stock | Capital Stock Expense | Accumulated Other Comprehensive Income (Loss) | Total | ||||||||||||||||||||
| (In Millions/Except Share Data) | Shares | Amount | ||||||||||||||||||||||||
| BALANCE AS OF DECEMBER 31, 2023 | 235 | $589 | $9,139 | $10,440 | $(962) | $(62) | $2 | $19,146 | ||||||||||||||||||
| Net income | 694 | 694 | ||||||||||||||||||||||||
| Common stock dividend to Con Edison | (268) | (268) | ||||||||||||||||||||||||
| Capital contribution by Con Edison | 25 | 25 | ||||||||||||||||||||||||
| BALANCE AS OF MARCH 31, 2024 | 235 | $589 | $9,164 | $10,866 | $(962) | $(62) | $2 | $19,597 | ||||||||||||||||||
| Net income | 186 | 186 | ||||||||||||||||||||||||
| Common stock dividend to Con Edison | (268) | (268) | ||||||||||||||||||||||||
| Capital contribution by Con Edison | 55 | 55 | ||||||||||||||||||||||||
| BALANCE AS OF JUNE 30, 2024 | 235 | $589 | $9,219 | $10,784 | $(962) | $(62) | $2 | $19,570 | ||||||||||||||||||
| Net income | 537 | 537 | ||||||||||||||||||||||||
| Common stock dividend to Con Edison | (268) | (268) | ||||||||||||||||||||||||
| Capital contribution by Con Edison | 25 | 25 | ||||||||||||||||||||||||
| Stock awards | 9 | 9 | ||||||||||||||||||||||||
| BALANCE AS OF SEPTEMBER 30, 2024 | 235 | $589 | $9,253 | $11,053 | $(962) | $(62) | $2 | $19,873 | ||||||||||||||||||
| BALANCE AS OF DECEMBER 31, 2024 | 235 | $589 | $9,281 | $11,115 | $(962) | $(62) | $10 | $19,971 | ||||||||||||||||||
| Net income | 745 | 745 | ||||||||||||||||||||||||
| Common stock dividend to Con Edison | (284) | (284) | ||||||||||||||||||||||||
| Capital contribution by Con Edison | 1,241 | (16) | 1,225 | |||||||||||||||||||||||
| Other comprehensive loss | (8) | (8) | ||||||||||||||||||||||||
| BALANCE AS OF MARCH 31, 2025 | 235 | $589 | $10,522 | $11,576 | $(962) | $(78) | $2 | $21,649 | ||||||||||||||||||
| Net income | 222 | 222 | ||||||||||||||||||||||||
| Common stock dividend to Con Edison | (284) | (284) | ||||||||||||||||||||||||
| Capital contribution by Con Edison | 25 | 25 | ||||||||||||||||||||||||
| Stock awards | 3 | 3 | ||||||||||||||||||||||||
| BALANCE AS OF JUNE 30, 2025 | 235 | $589 | $10,550 | $11,514 | $(962) | $(78) | $2 | $21,615 | ||||||||||||||||||
| Net income | 639 | 639 | ||||||||||||||||||||||||
| Common stock dividend to Con Edison | (284) | (284) | ||||||||||||||||||||||||
| Capital contribution by Con Edison | 25 | 25 | ||||||||||||||||||||||||
| Stock awards | 2 | 2 | ||||||||||||||||||||||||
| BALANCE AS OF SEPTEMBER 30, 2025 | 235 | $589 | $10,577 | $11,869 | $(962) | $(78) | $2 | $21,997 | ||||||||||||||||||
| For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||||||||||||
| (Millions of Dollars, except per share amounts/Shares in Millions) | 2025 | 2024 | 2025 | 2024 | ||||||||||
| Net income for common stock | $688 | $588 | $1,726 | $1,510 | ||||||||||
| Weighted average common shares outstanding – basic | 360.7 | 346.2 | 356.4 | 345.9 | ||||||||||
| Add: Incremental shares attributable to effect of potentially dilutive securities | 1.2 | 1.3 | 1.2 | 1.3 | ||||||||||
| Adjusted weighted average common shares outstanding – diluted | 361.9 | 347.5 | 357.6 | 347.2 | ||||||||||
| Net Income per common share – basic | $1.91 | $1.70 | $4.84 | $4.37 | ||||||||||
| Net Income per common share – diluted | $1.90 | $1.69 | $4.83 | $4.35 | ||||||||||
| At September 30, | ||||||||
| Con Edison | ||||||||
| (Millions of Dollars) | 2025 | 2024 (a) | ||||||
| Cash and temporary cash investments | $181 | $93 | ||||||
| Restricted cash | 1 | 9 | ||||||
| Total cash, temporary cash investments and restricted cash | $182 | $102 | ||||||
CECONY – Electric | |||||
| Effective period | January 2026 – December 2028 | ||||
| Base rate changes | Yr. 1 – $222 million (a) Yr. 2 – $473 million (a) Yr. 3 – $329 million (a) | ||||
Capital expenditures | Yr. 1 - $4,550 million Yr. 2 - $4,474 million Yr. 3 - $4,712 million | ||||
Amortizations to income of net liabilities | Yr. 1 – $88 million (b) Yr. 2 – $81 million (b) Yr. 3 – $78 million (b) | ||||
| Other revenue sources | Retention of $75 million of annual transmission congestion revenues Potential earnings adjustment mechanism incentives for energy efficiency and other potential incentives of up to: Yr. 1 – $40 million Yr. 2 – $42 million Yr. 3 – $47 million | ||||
| Revenue decoupling mechanisms | Continuation of reconciliation of actual to authorized electric delivery revenues. | ||||
| Recoverable energy costs | Continuation of current rate recovery of purchased power and fuel costs. | ||||
| Negative revenue adjustments | Potential charges if certain performance targets relating to service, reliability, safety and other matters are not met: Yr. 1 – $653 million Yr. 2 – $688 million Yr. 3 – $745 million | ||||
| Regulatory reconciliations | Reconciliation of late payment charges and expenses for uncollectibles (c), expenses for pension and other postretirement benefits, variable-rate debt, major storms, property taxes (d), municipal infrastructure support costs (e), the impact of new laws and environmental site investigation and remediation to amounts reflected in rates (f). | ||||
| Net utility plant reconciliations | Target levels reflected in rates: Electric average net plant target: Yr. 1 – $33,590 million Yr. 2 – $35,186 million Yr. 3 – $38,624 million | ||||
| Average rate base | Yr. 1 – $32,935 million Yr. 2 – $35,149 million Yr. 3 – $39,174 million | ||||
| Weighted average cost of capital (after-tax) | Yr. 1 – 6.98 percent Yr. 2 – 7.04 percent Yr. 3 – 7.10 percent | ||||
| Authorized return on common equity | 9.40 percent | ||||
| Earnings sharing | Most earnings above an annual earnings threshold of 9.90 percent are to be applied to reduce regulatory assets for environmental remediation and other costs accumulated in the rate year. | ||||
| Cost of long-term debt | Yr. 1 – 4.78 percent Yr. 2 – 4.90 percent Yr. 3 – 5.01 percent | ||||
| Common equity ratio | 48 percent | ||||
CECONY – Gas | |||||
| Effective period | January 2026 – December 2028 | ||||
| Base rate changes | Yr. 1 – $(46) million (a) Yr. 2 – $170 million (a) Yr. 3 – $93 million (a) | ||||
Capital expenditures | Yr. 1 – $1,093 million Yr. 2 – $1,057 million Yr. 3 – $1,065 million | ||||
Amortizations to income of net liabilities | Yr. 1 – $90 million (b) Yr. 2 – $88 million (b) Yr. 3 – $86 million (b) | ||||
| Other revenue sources | Retention of annual revenues from non-firm customers of up to $65 million and 15 percent of any such revenues above $65 million. | ||||
| Revenue decoupling mechanisms | Continuation of reconciliation of actual to authorized gas delivery revenues calculated based upon revenue per customer class. | ||||
| Recoverable energy costs | Continuation of current rate recovery of purchased gas costs. | ||||
Negative revenue adjustments (c) | Potential charges if performance targets relating to service, safety and other matters are not met: Yr. 1 – $133 million (h) Yr. 2 – $140 million (h) Yr. 3 – $149 million (h) | ||||
| Regulatory reconciliations | Reconciliation of late payment charges and expenses for uncollectibles (d), expenses for pension and other postretirement benefits, variable-rate debt, property taxes (e), municipal infrastructure support costs (f), the impact of new laws and environmental site investigation and remediation to amounts reflected in rates (g). | ||||
| Net utility plant reconciliations | Target levels reflected in rates: Gas average net plant target: Yr. 1 – $12,931 million Yr. 2 – $13,472 million Yr. 3 – $14,014 million | ||||
| Average rate base | Yr. 1 – $11,485 million Yr. 2 – $12,050 million Yr. 3 – $12,615 million | ||||
| Weighted average cost of capital (after-tax) | Yr. 1 – 6.98 percent Yr. 2 – 7.04 percent Yr. 3 – 7.10 percent | ||||
| Authorized return on common equity | 9.40 percent | ||||
| Earnings sharing | Most earnings above an annual earnings threshold of 9.90 percent are to be applied to reduce regulatory assets for environmental remediation and other costs accumulated in the rate year. | ||||
| Cost of long-term debt | Yr. 1 – 4.78 percent Yr. 2 – 4.90 percent Yr. 3 – 5.01 percent | ||||
| Common equity ratio | 48 percent | ||||
| Con Edison | CECONY | ||||||||||||||||
| (Millions of Dollars) | 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Regulatory assets | |||||||||||||||||
Energy efficiency and other clean energy programs (a) | $1,772 | $1,675 | $1,680 | $1,601 | |||||||||||||
Customer account deferrals (b) | 1,178 | 1,073 | 1,169 | 1,058 | |||||||||||||
Environmental investigation and remediation costs | 1,024 | 1,038 | 937 | 952 | |||||||||||||
| Revenue taxes | 616 | 540 | 589 | 517 | |||||||||||||
Legacy meters (c) | 390 | 413 | 377 | 398 | |||||||||||||
| Property tax reconciliation (d) | 111 | 131 | 109 | 131 | |||||||||||||
| Deferred storm costs (e) | 88 | 147 | 10 | 53 | |||||||||||||
| Deferred derivative losses - long term | 64 | 106 | 57 | 94 | |||||||||||||
| Unrecognized pension and other postretirement costs (f) | 21 | — | 13 | — | |||||||||||||
| MTA power reliability deferral (g) | 8 | 31 | 8 | 31 | |||||||||||||
| Pension and other postretirement benefits deferrals | — | 2 | — | 2 | |||||||||||||
| Other | 282 | 367 | 248 | 321 | |||||||||||||
| Regulatory assets – noncurrent | 5,554 | 5,523 | 5,197 | 5,158 | |||||||||||||
| Deferred derivative losses - short term | 116 | 102 | 108 | 92 | |||||||||||||
| Recoverable energy costs | 2 | 39 | 2 | 14 | |||||||||||||
| Regulatory assets – current | 118 | 141 | 110 | 106 | |||||||||||||
| Total Regulatory Assets | $5,672 | $5,664 | $5,307 | $5,264 | |||||||||||||
| Regulatory liabilities | |||||||||||||||||
| Allowance for cost of removal less salvage (h) | $1,597 | $1,527 | $1,383 | $1,322 | |||||||||||||
| Future income tax* | 1,146 | 1,224 | 1,039 | 1,112 | |||||||||||||
| Unrecognized pension and other postretirement costs (f) | 736 | 1,054 | 684 | 984 | |||||||||||||
| Pension and other postretirement benefit deferrals | 373 | 368 | 324 | 304 | |||||||||||||
| Net unbilled revenue deferrals | 296 | 436 | 296 | 436 | |||||||||||||
| Late payment charge deferral | 223 | 231 | 219 | 224 | |||||||||||||
| System benefit charge carrying charge | 103 | 115 | 96 | 110 | |||||||||||||
| Deferred derivative gains - long term | 16 | 8 | 12 | 6 | |||||||||||||
Settlement of prudence proceeding (i) | 9 | 10 | 9 | 10 | |||||||||||||
| Other | 447 | 471 | 404 | 432 | |||||||||||||
| Regulatory liabilities – noncurrent | 4,946 | 5,444 | 4,466 | 4,940 | |||||||||||||
| Refundable energy costs | 84 | 59 | 55 | 18 | |||||||||||||
| Deferred derivative gains - short term | 22 | 25 | 18 | 22 | |||||||||||||
| Revenue decoupling mechanism | 17 | 18 | — | — | |||||||||||||
| Regulatory liabilities – current | 123 | 102 | 73 | 40 | |||||||||||||
| Total Regulatory Liabilities | $5,069 | $5,546 | $4,539 | $4,980 | |||||||||||||
| Con Edison | CECONY | |||||||||||||
| (Millions of Dollars) | 2025 | 2024 | 2025 | 2024 | ||||||||||
Environmental investigation and remediation costs | $1,022 | $1,037 | $935 | $942 | ||||||||||
| Revenue taxes | 612 | 567 | 586 | 543 | ||||||||||
UB deferral for uncollectible accounts receivable | 541 | 551 | 536 | 541 | ||||||||||
Deferred derivative losses - short-term | 116 | 102 | 108 | 92 | ||||||||||
Deferred derivative losses - long-term | 64 | 106 | 57 | 94 | ||||||||||
| Unrecognized pension and other postretirement costs | 21 | — | 13 | — | ||||||||||
| Other | 76 | 39 | 64 | 28 | ||||||||||
| Total | $2,452 | $2,402 | $2,299 | $2,240 | ||||||||||
| (Millions of Dollars) | 2025 | 2024 | ||||||||||||||||||||||||
| Long-Term Debt (including current portion) (a) | Carrying Amount | Fair Value | Carrying Amount | Fair Value | ||||||||||||||||||||||
| Con Edison (b) | $24,909 | $22,995 | $24,651 | $21,997 | ||||||||||||||||||||||
| CECONY | $23,418 | $21,640 | $23,409 | $20,915 | ||||||||||||||||||||||
| For the Three Months Ended September 30, | ||||||||||||||
| Con Edison | CECONY | |||||||||||||
| (Millions of Dollars) | 2025 | 2024 | 2025 | 2024 | ||||||||||
| Service cost – including administrative expenses | $41 | $44 | $39 | $42 | ||||||||||
| Interest cost on projected benefit obligation | 169 | 160 | 159 | 151 | ||||||||||
| Expected return on plan assets | (279) | (282) | (266) | (269) | ||||||||||
| Recognition of net actuarial gain | (66) | (1) | (63) | (2) | ||||||||||
| Recognition of prior service credit | (4) | (4) | (5) | (5) | ||||||||||
| TOTAL PERIODIC BENEFIT CREDIT | $(139) | $(83) | $(136) | $(83) | ||||||||||
| Cost capitalized | (25) | (22) | (24) | (21) | ||||||||||
| Reconciliation to rate level | (12) | 12 | (12) | 10 | ||||||||||
| Total credit recognized | $(176) | $(93) | $(172) | $(94) | ||||||||||
| For the Nine Months Ended September 30, | ||||||||||||||
| Con Edison | CECONY | |||||||||||||
| (Millions of Dollars) | 2025 | 2024 | 2025 | 2024 | ||||||||||
| Service cost – including administrative expenses | $125 | $133 | $118 | $126 | ||||||||||
| Interest cost on projected benefit obligation | 507 | 481 | 477 | 453 | ||||||||||
| Expected return on plan assets | (837) | (846) | (799) | (807) | ||||||||||
| Recognition of net actuarial gain | (199) | (4) | (189) | (5) | ||||||||||
| Recognition of prior service credit | (13) | (13) | (15) | (15) | ||||||||||
| TOTAL PERIODIC BENEFIT CREDIT | $(417) | $(249) | $(408) | $(248) | ||||||||||
| Cost capitalized | (70) | (68) | (67) | (65) | ||||||||||
| Reconciliation to rate level | (41) | 39 | (42) | 31 | ||||||||||
| Total credit recognized | $(528) | $(278) | $(517) | $(282) | ||||||||||
| For the Three Months Ended September 30, | ||||||||||||||
| Con Edison | CECONY | |||||||||||||
| (Millions of Dollars) | 2025 | 2024 | 2025 | 2024 | ||||||||||
| Service cost - including administrative expenses | $3 | $3 | $2 | $3 | ||||||||||
| Interest cost on projected other postretirement benefit obligation | 12 | 12 | 10 | 10 | ||||||||||
| Expected return on plan assets | (17) | (17) | (13) | (14) | ||||||||||
| Recognition of net actuarial gain | (7) | (5) | (4) | (4) | ||||||||||
| TOTAL PERIODIC OTHER POSTRETIREMENT CREDIT | $(9) | $(7) | $(5) | $(5) | ||||||||||
| Cost capitalized | (1) | (2) | (1) | (1) | ||||||||||
| Reconciliation to rate level | 3 | 4 | 2 | 3 | ||||||||||
| Total credit recognized | $(7) | $(5) | $(4) | $(3) | ||||||||||
| For the Nine Months Ended September 30, | ||||||||||||||
| Con Edison | CECONY | |||||||||||||
| (Millions of Dollars) | 2025 | 2024 | 2025 | 2024 | ||||||||||
| Service cost - including administrative expenses | $8 | $9 | $7 | $8 | ||||||||||
| Interest cost on projected other postretirement benefit obligation | 36 | 35 | 31 | 30 | ||||||||||
| Expected return on plan assets | (50) | (51) | (40) | (41) | ||||||||||
| Recognition of net actuarial gain | (20) | (14) | (13) | (11) | ||||||||||
| Recognition of prior service credit | (1) | (1) | — | — | ||||||||||
| TOTAL PERIODIC OTHER POSTRETIREMENT CREDIT | $(27) | $(22) | $(15) | $(14) | ||||||||||
| Cost capitalized | (4) | (4) | (3) | (4) | ||||||||||
| Reconciliation to rate level | 9 | 12 | 6 | 10 | ||||||||||
| Total credit recognized | $(22) | $(14) | $(12) | $(8) | ||||||||||
| Con Edison | CECONY | |||||||||||||
| (Millions of Dollars) | 2025 | 2024 | 2025 | 2024 | ||||||||||
| Accrued Liabilities: | ||||||||||||||
| Manufactured gas plant sites | $939 | $941 | $845 | $846 | ||||||||||
| Other Superfund Sites | 90 | 96 | 90 | 96 | ||||||||||
| Total | $1,029 | $1,037 | $935 | $942 | ||||||||||
| Regulatory assets | $1,024 | $1,038 | $937 | $952 | ||||||||||
| For the Three Months Ended September 30, | ||||||||||||||
| Con Edison | CECONY | |||||||||||||
| (Millions of Dollars) | 2025 | 2024 | 2025 | 2024 | ||||||||||
Investigation and remediation costs incurred | $— | $12 | $— | $12 | ||||||||||
| For the Nine Months Ended September 30, | ||||||||||||||
| Con Edison | CECONY | |||||||||||||
| (Millions of Dollars) | 2025 | 2024 | 2025 | 2024 | ||||||||||
Investigation and remediation costs incurred | $12 | $27 | $11 | $27 | ||||||||||
| Con Edison | CECONY | |||||||||||||
| (Millions of Dollars) | 2025 | 2024 | 2025 | 2024 | ||||||||||
| Accrued liability – asbestos suits | $8 | $8 | $7 | $7 | ||||||||||
| Regulatory assets – asbestos suits | 8 | 8 | 7 | 7 | ||||||||||
| Accrued liability – workers’ compensation | 52 | 53 | 49 | 51 | ||||||||||
| Regulatory liabilities – workers’ compensation | 21 | 20 | 21 | 20 | ||||||||||
| Guarantee Type | 0 – 3 years | Total | ||||||
| (Millions of Dollars) | ||||||||
| Con Edison Transmission | $58 | $58 | ||||||
| Total | $58 | $58 | ||||||
| For the Three Months Ended September 30, | ||||||||||||||
| Con Edison | CECONY | |||||||||||||
| (Millions of Dollars) | 2025 | 2024 | 2025 | 2024 | ||||||||||
| Operating lease cost | $17 | $17 | $17 | $17 | ||||||||||
| Operating lease cash flows | $7 | $6 | $6 | $6 | ||||||||||
| For the Nine Months Ended September 30, | ||||||||||||||
| Con Edison | CECONY | |||||||||||||
| (Millions of Dollars) | 2025 | 2024 | 2025 | 2024 | ||||||||||
| Operating lease cost | $51 | $50 | $51 | $49 | ||||||||||
| Operating lease cash flows | $15 | $15 | $15 | $14 | ||||||||||
| For the Three Months Ended September 30, 2025 | For the Three Months Ended September 30, 2024 | |||||||||||||||||||||||||
| (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 | $3,722 | $11 | $3,733 | $3,493 | ($117) | $3,376 | ||||||||||||||||||||
| Gas | 421 | (29) | 392 | 364 | (27) | 337 | ||||||||||||||||||||
| Steam | 57 | (1) | 56 | 52 | (3) | 49 | ||||||||||||||||||||
| Total CECONY | $4,200 | $(19) | $4,181 | $3,909 | $(147) | $3,762 | ||||||||||||||||||||
| O&R | ||||||||||||||||||||||||||
| Electric | $325 | $(17) | $308 | $309 | $(16) | $293 | ||||||||||||||||||||
| Gas | 42 | (1) | 41 | 6 | 30 | 36 | ||||||||||||||||||||
| Total O&R | $367 | $(18) | $349 | $315 | $14 | $329 | ||||||||||||||||||||
| Con Edison Transmission | 1 | — | 1 | 1 | — | 1 | ||||||||||||||||||||
| Other (b) | — | (1) | (1) | — | — | — | ||||||||||||||||||||
| Total Con Edison | $4,568 | $(38) | $4,530 | $4,225 | $(133) | $4,092 | ||||||||||||||||||||
| For the Nine Months Ended September 30, 2025 | For the Nine Months Ended September 30, 2024 | |||||||||||||||||||||||||
| (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 | $9,055 | $(55) | $9,000 | $8,300 | $(112) | $8,188 | ||||||||||||||||||||
| Gas | 2,515 | (69) | 2,446 | 2,177 | (58) | 2,119 | ||||||||||||||||||||
| Steam | 521 | (4) | 517 | 436 | (13) | 423 | ||||||||||||||||||||
| Total CECONY | $12,091 | $(128) | $11,963 | $10,913 | $(183) | $10,730 | ||||||||||||||||||||
| O&R | ||||||||||||||||||||||||||
| Electric | $739 | $(20) | $719 | $688 | $(26) | $662 | ||||||||||||||||||||
| Gas | 252 | (12) | 240 | 173 | 20 | 193 | ||||||||||||||||||||
| Total O&R | $991 | $(32) | $959 | $861 | $(6) | $855 | ||||||||||||||||||||
| Con Edison Transmission | 3 | — | 3 | 3 | — | 3 | ||||||||||||||||||||
| Other (b) | — | (1) | (1) | — | (1) | (1) | ||||||||||||||||||||
| Total Con Edison | $13,085 | $(161) | $12,924 | $11,777 | $(190) | $11,587 | ||||||||||||||||||||
| For the Three Months Ended September 30, | ||||||||||||||||||||||||||
| Con Edison | CECONY | |||||||||||||||||||||||||
| Accounts receivable - customers | Other receivables | Accounts receivable - customers | Other receivables | |||||||||||||||||||||||
| (Millions of Dollars) | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||
| Allowance for credit losses | ||||||||||||||||||||||||||
| Beginning Balance at July 1, | $615 | $434 | $42 | $25 | $605 | $419 | $35 | $21 | ||||||||||||||||||
| Recoveries | 8 | — | — | — | 7 | — | — | — | ||||||||||||||||||
| Write-offs | (134) | (65) | (2) | — | (132) | (63) | (1) | — | ||||||||||||||||||
| Reserve adjustments | 121 | 92 | 20 | (1) | 120 | 92 | 19 | — | ||||||||||||||||||
| Ending Balance September 30, | $610 | $461 | $60 | $24 | $600 | $448 | $53 | $21 | ||||||||||||||||||
| For the Nine Months Ended September 30, | ||||||||||||||||||||||||||
| Con Edison | CECONY | |||||||||||||||||||||||||
| Accounts receivable - customers | Other receivables | Accounts receivable - customers | Other receivables | |||||||||||||||||||||||
| (Millions of Dollars) | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||
| Allowance for credit losses | ||||||||||||||||||||||||||
| Beginning Balance at January 1, | $620 | $360 | $41 | $13 | $605 | $353 | $38 | $9 | ||||||||||||||||||
| Recoveries | 31 | 17 | — | — | 30 | 13 | — | — | ||||||||||||||||||
| Write-offs | (352) | (160) | (6) | — | (346) | (152) | (5) | — | ||||||||||||||||||
| Reserve adjustments | 311 | 244 | 25 | 11 | 311 | 234 | 20 | 12 | ||||||||||||||||||
| Ending Balance September 30, | $610 | $461 | $60 | $24 | $600 | $448 | $53 | $21 | ||||||||||||||||||
| As of and for the Three Months Ended September 30, 2025 | ||||||||||||||||||||||||||||||||||||||
| Operating revenues | Inter-segment revenues | Other operations and maintenance (b) | Depreciation and amortization | Other operating expense (b) | Operating income (loss) | Other Income (deductions) | Interest Expense | Allowance for borrowed funds used during construction | Income Tax Expense | Total assets | Capital expenditures | |||||||||||||||||||||||||||
| (Millions of Dollars) | ||||||||||||||||||||||||||||||||||||||
| CECONY | ||||||||||||||||||||||||||||||||||||||
| Electric | $3,733 | $5 | $686 | $403 | $1,520 | $1,124 | $153 | $213 | $(7) | $256 | $47,820 | $780 | ||||||||||||||||||||||||||
| Gas | 392 | 2 | 132 | 122 | 260 | (122) | 36 | 74 | (5) | (44) | 16,080 | 282 | ||||||||||||||||||||||||||
| Steam | 56 | 19 | 53 | 29 | 62 | (88) | 12 | 14 | — | (24) | 2,736 | 27 | ||||||||||||||||||||||||||
| Consolidation adjustments | — | (26) | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
| Total CECONY | $4,181 | $— | $871 | $554 | $1,842 | $914 | $201 | $301 | $(12) | $188 | $66,636 | $1,089 | ||||||||||||||||||||||||||
| O&R | ||||||||||||||||||||||||||||||||||||||
| Electric | 308 | — | 71 | 22 | 144 | 71 | 8 | 12 | (2) | 17 | 2,869 | 95 | ||||||||||||||||||||||||||
| Gas | 41 | — | 21 | 10 | 24 | (14) | 3 | 6 | — | (5) | 1,472 | 39 | ||||||||||||||||||||||||||
| Total O&R | $349 | $— | $92 | $32 | $168 | $57 | $11 | $18 | $(2) | $12 | $4,341 | $134 | ||||||||||||||||||||||||||
| Con Edison Transmission | 1 | — | 4 | — | — | (1) | 16 | — | — | 4 | 505 | 8 | ||||||||||||||||||||||||||
| Other (a) | (1) | — | — | — | 1 | (2) | 3 | 4 | — | (2) | 362 | — | ||||||||||||||||||||||||||
| Total Con Edison | $4,530 | $— | $967 | $586 | $2,011 | $968 | $231 | $323 | $(14) | $202 | $71,844 | $1,231 | ||||||||||||||||||||||||||
| As of and for the Three Months Ended September 30, 2024 | ||||||||||||||||||||||||||||||||||||||
| Operating revenues | Inter-segment revenues | Other operations and maintenance (b) | Depreciation and amortization | Other operating expense (b) | Operating income (loss) | Other Income (deductions) | Interest Expense | Allowance for borrowed funds used during construction | Income Tax Expense | Total assets | Capital expenditures | |||||||||||||||||||||||||||
| (Millions of Dollars) | ||||||||||||||||||||||||||||||||||||||
| CECONY | ||||||||||||||||||||||||||||||||||||||
| Electric | $3,376 | $5 | $686 | $376 | $696 | $998 | $105 | $213 | $(10) | $187 | $44,828 | $756 | ||||||||||||||||||||||||||
| Gas | 337 | 2 | 132 | 117 | 132 | (112) | 24 | 73 | (4) | (43) | 16,116 | 292 | ||||||||||||||||||||||||||
| Steam | 49 | 19 | 53 | 27 | 52 | (83) | 9 | 14 | (1) | (25) | 2,905 | 34 | ||||||||||||||||||||||||||
| Consolidation adjustments | — | (26) | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
| Total CECONY | $3,762 | $— | $871 | $520 | $880 | $803 | $138 | $300 | $(15) | $119 | $63,849 | $1,082 | ||||||||||||||||||||||||||
| O&R | ||||||||||||||||||||||||||||||||||||||
| Electric | 293 | — | 71 | 21 | 83 | 72 | 6 | 12 | (1) | 17 | 2,529 | 47 | ||||||||||||||||||||||||||
| Gas | 36 | — | 21 | 9 | 21 | (9) | 2 | 6 | — | (5) | 1,441 | 25 | ||||||||||||||||||||||||||
| Total O&R | $329 | $— | $92 | $30 | $104 | $63 | $8 | $18 | $(1) | $12 | $3,970 | $72 | ||||||||||||||||||||||||||
| Con Edison Transmission | 1 | — | 2 | — | 2 | (1) | 16 | — | — | 4 | 456 | 9 | ||||||||||||||||||||||||||
| Other (a) | — | — | — | — | — | (3) | 3 | 4 | — | (2) | 370 | — | ||||||||||||||||||||||||||
| Total Con Edison | $4,092 | $— | $965 | $550 | $986 | $862 | $165 | $322 | $(16) | $133 | $68,645 | $1,163 | ||||||||||||||||||||||||||
| As of and for the Nine Months Ended September 30, 2025 | ||||||||||||||||||||||||||||||||||||||
| Operating revenues | Inter-segment revenues | Other operations and maintenance (b) | Depreciation and amortization | Other operating expense (b) | Operating income (loss) | Other Income (deductions) | Interest Expense | Allowance for borrowed funds used during construction | Income Tax Expense | Total assets | Capital expenditures | |||||||||||||||||||||||||||
| (Millions of Dollars) | ||||||||||||||||||||||||||||||||||||||
| CECONY | ||||||||||||||||||||||||||||||||||||||
| Electric | $9,000 | $15 | $1,980 | $1,187 | $4,105 | $1,728 | $466 | $644 | ($31) | $343 | $47,820 | $2,285 | ||||||||||||||||||||||||||
| Gas | 2,446 | 6 | 406 | 359 | 1,080 | 601 | 105 | 226 | (13) | 125 | 16,080 | 867 | ||||||||||||||||||||||||||
| Steam | 517 | 58 | 165 | 85 | 268 | (1) | 37 | 43 | (1) | (6) | 2,736 | 82 | ||||||||||||||||||||||||||
| Consolidation adjustments | — | (79) | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
| Total CECONY | $11,963 | $— | $2,551 | $1,631 | $5,453 | $2,328 | $608 | $913 | ($45) | $462 | $66,636 | $3,234 | ||||||||||||||||||||||||||
| O&R | ||||||||||||||||||||||||||||||||||||||
| Electric | 719 | — | 219 | 65 | 332 | 103 | 26 | 34 | (4) | 22 | 2,869 | 218 | ||||||||||||||||||||||||||
| Gas | 240 | — | 61 | 29 | 121 | 29 | 8 | 17 | — | 3 | 1,472 | 97 | ||||||||||||||||||||||||||
| Total O&R | $959 | $— | $280 | $94 | $453 | $132 | $34 | $51 | ($4) | $25 | $4,341 | $315 | ||||||||||||||||||||||||||
| Con Edison Transmission | 3 | — | 8 | 1 | — | (6) | 49 | — | — | 12 | 505 | 37 | ||||||||||||||||||||||||||
| Other (a) | (1) | — | 1 | — | 4 | (6) | 2 | 7 | — | (6) | 362 | — | ||||||||||||||||||||||||||
| Total Con Edison | $12,924 | $— | $2,840 | $1,726 | $5,910 | $2,448 | $693 | $971 | ($49) | $493 | $71,844 | $3,586 | ||||||||||||||||||||||||||
| As of and for the Nine Months Ended September 30, 2024 | ||||||||||||||||||||||||||||||||||||||
| Operating revenues | Inter-segment revenues | Other operations and maintenance (b) | Depreciation and amortization | Other operating expense (b) | Operating income (loss) | Other Income (deductions) | Interest Expense | Allowance for borrowed funds used during construction | Income Tax Expense | Total assets | Capital expenditures | |||||||||||||||||||||||||||
| (Millions of Dollars) | ||||||||||||||||||||||||||||||||||||||
| CECONY | ||||||||||||||||||||||||||||||||||||||
| Electric | $8,188 | $15 | $1,979 | $1,090 | $3,608 | $1,511 | $332 | $612 | $(28) | $191 | $44,828 | $2,269 | ||||||||||||||||||||||||||
| Gas | 2,119 | 7 | 407 | 343 | 781 | 588 | 78 | 213 | (12) | 117 | 16,116 | 854 | ||||||||||||||||||||||||||
| Steam | 423 | 56 | 153 | 79 | 183 | 8 | 26 | 40 | (1) | (7) | 2,905 | 104 | ||||||||||||||||||||||||||
| Consolidation adjustments | — | (78) | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
| Total CECONY | $10,730 | $— | $2,539 | $1,512 | $4,572 | $2,107 | $436 | $865 | $(41) | $301 | $63,849 | $3,227 | ||||||||||||||||||||||||||
| O&R | ||||||||||||||||||||||||||||||||||||||
| Electric | 662 | — | 233 | 61 | 271 | 97 | 19 | 31 | (4) | 22 | 2,529 | 148 | ||||||||||||||||||||||||||
| Gas | 193 | — | 61 | 26 | 76 | 30 | 5 | 17 | — | 3 | 1,441 | 68 | ||||||||||||||||||||||||||
| Total O&R | $855 | $— | $294 | $87 | $347 | $127 | $24 | $48 | $(4) | $25 | $3,970 | $216 | ||||||||||||||||||||||||||
| Con Edison Transmission | 3 | — | 8 | 1 | — | (6) | 46 | — | — | 5 | 456 | 22 | ||||||||||||||||||||||||||
| Other (a) | (1) | — | — | 1 | 33 | (35) | 1 | 15 | — | (24) | 370 | — | ||||||||||||||||||||||||||
| Total Con Edison | $11,587 | $— | $2,841 | $1,601 | $4,952 | $2,193 | $507 | $928 | $(45) | $307 | $68,645 | $3,465 | ||||||||||||||||||||||||||
| (Millions of Dollars) | 2025 | 2024 | ||||||||||||||||||||||||
| 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 | $52 | $(39) | $13 | (b) | $56 | $(41) | $15 | |||||||||||||||||||
| Noncurrent | 54 | (17) | 37 | 39 | (12) | 27 | ||||||||||||||||||||
| Total fair value of derivative assets | $106 | $(56) | $50 | $95 | $(53) | $42 | ||||||||||||||||||||
| Fair value of derivative liabilities | ||||||||||||||||||||||||||
| Current | $(109) | $39 | $(70) | (b) | $(92) | $44 | $(48) | (b) | ||||||||||||||||||
| Noncurrent | (71) | 15 | (56) | (108) | 12 | (96) | ||||||||||||||||||||
| Total fair value of derivative liabilities | $(180) | $54 | $(126) | $(200) | $56 | $(144) | ||||||||||||||||||||
| Net fair value derivative assets (liabilities) | $(74) | $(2) | $(76) | $(105) | $3 | $(102) | ||||||||||||||||||||
| CECONY | ||||||||||||||||||||||||||
| Fair value of derivative assets | ||||||||||||||||||||||||||
| Current | $45 | $(35) | $10 | (b) | $51 | $(40) | $11 | |||||||||||||||||||
| Noncurrent | 45 | (12) | 33 | 36 | (11) | 25 | ||||||||||||||||||||
| Total fair value of derivative assets | $90 | $(47) | $43 | $87 | $(51) | $36 | ||||||||||||||||||||
| Fair value of derivative liabilities | ||||||||||||||||||||||||||
| Current | $(100) | $36 | $(64) | (b) | $(84) | $42 | $(42) | (b) | ||||||||||||||||||
| Noncurrent | (61) | 12 | (49) | (95) | 11 | (84) | ||||||||||||||||||||
| Total fair value of derivative liabilities | $(161) | $48 | $(113) | $(179) | $53 | $(126) | ||||||||||||||||||||
| Net fair value derivative assets (liabilities) | $(71) | $1 | $(70) | $(92) | $2 | $(90) | ||||||||||||||||||||
| For the Nine Months Ended September 30, | ||||||||||||||||||||
| Con Edison | CECONY | |||||||||||||||||||
| (Millions of Dollars) | Financial Statement Location | 2025 | 2024 | 2025 | 2024 | |||||||||||||||
Pre-tax gains (losses) deferred in accordance with accounting rules for regulated operations: | ||||||||||||||||||||
| Current | Regulatory liabilities | $(3) | $(45) | $(4) | $(42) | |||||||||||||||
| Noncurrent | Regulatory liabilities | 8 | (30) | 6 | (30) | |||||||||||||||
| Total deferred gains (losses) | $5 | $(75) | $2 | $(72) | ||||||||||||||||
| Current | Regulatory assets | $(14) | $104 | $(16) | $102 | |||||||||||||||
| Current | Recoverable energy costs | 41 | (269) | 38 | (247) | |||||||||||||||
| Noncurrent | Regulatory assets | 42 | 9 | 36 | 9 | |||||||||||||||
| Total deferred gains (losses) | $69 | $(156) | $58 | $(136) | ||||||||||||||||
| Net deferred gains (losses) (a) | $74 | $(231) | $60 | $(208) | ||||||||||||||||
| Electric Energy (MWh) (a)(b) | Capacity (MW-mos) (a) | Natural Gas (Dt) (a)(b) | Refined Fuels (gallons) | |||||||||||
| Con Edison | 31,734,340 | 25,200 | 340,270,000 | 3,528,000 | ||||||||||
| CECONY | 29,204,950 | 14,100 | 319,960,000 | 3,528,000 | ||||||||||
| (Millions of Dollars) | Con Edison (a) | CECONY (a) | ||||||||||||
| Aggregate fair value – net liabilities | $113 | $103 | ||||||||||||
| Collateral posted | 107 | 105 | ||||||||||||
| Additional collateral (b) (downgrade one level from current ratings) | 5 | — | ||||||||||||
| Additional collateral (b)(c) (downgrade to below investment grade from current ratings) | 133 | 117 | ||||||||||||
| 2025 | 2024 | |||||||||||||||||||||||||||||||
| (Millions of Dollars) | Level 1 | Level 2 | Level 3 | Netting Adjustment (d) | Total | Level 1 | Level 2 | Level 3 | Netting Adjustment (d) | Total | ||||||||||||||||||||||
| Con Edison | ||||||||||||||||||||||||||||||||
| Derivative assets: | ||||||||||||||||||||||||||||||||
| Commodity (a)(b)(c) | $22 | $64 | $5 | $(40) | $51 | $9 | $81 | $1 | $(49) | $42 | ||||||||||||||||||||||
Mutual Funds (a)(b) | 633 | — | — | — | 633 | 570 | — | — | — | 570 | ||||||||||||||||||||||
| Cash Value of Life Insurance Policies (a)(b) | — | 134 | — | — | 134 | — | 129 | — | — | 129 | ||||||||||||||||||||||
| Total assets | $655 | $198 | $5 | $(40) | $818 | $579 | $210 | $1 | $(49) | $741 | ||||||||||||||||||||||
| Derivative liabilities: | ||||||||||||||||||||||||||||||||
| Commodity (a)(b)(c) | $3 | $143 | $17 | $(34) | 129 | $5 | $175 | $16 | $(48) | $148 | ||||||||||||||||||||||
| CECONY | ||||||||||||||||||||||||||||||||
| Derivative assets: | ||||||||||||||||||||||||||||||||
| Commodity (a)(b)(c) | $22 | $56 | $1 | $(35) | $44 | $9 | $74 | $1 | $(48) | $36 | ||||||||||||||||||||||
Mutual Funds (a)(b) | 618 | — | — | — | 618 | 553 | — | — | — | 553 | ||||||||||||||||||||||
| Cash Value of Life Insurance Policies (a)(b) | — | 128 | — | — | 128 | — | 123 | — | — | 123 | ||||||||||||||||||||||
| Total assets | $640 | $184 | $1 | $(35) | $790 | $562 | $197 | $1 | $(48) | $712 | ||||||||||||||||||||||
| Derivative liabilities: | ||||||||||||||||||||||||||||||||
| Commodity (a)(b)(c) | $3 | $137 | $8 | $(33) | $115 | $4 | $164 | $7 | $(47) | $128 | ||||||||||||||||||||||
| Fair Value of Level 3 at September 30, 2025 | Valuation Techniques | Unobservable Inputs | Range | Average Market Price | |||||||||||||
| (Millions of Dollars) | |||||||||||||||||
| Con Edison – Commodity | |||||||||||||||||
| Electricity | $— | Discounted Cash Flow | Forward energy prices ($/MWh) (a) | $33.35 - $107.30 per MWh | $57.58 | ||||||||||||
| Electricity | (13) | Discounted Cash Flow | Forward capacity prices ($/kW-month) (a) | $0.73 - $8.37 per kW-month | $3.65 | ||||||||||||
| Transmission Congestion Contracts | 1 | Discounted Cash Flow | Inter-zonal forward price curves adjusted for historical zonal losses ($/MWh) (b) | $(0.03) -$2.85 per MWh | $1.06 | ||||||||||||
| Total Con Edison—Commodity | $(12) | ||||||||||||||||
| CECONY – Commodity | |||||||||||||||||
| Electricity | $(1) | Discounted Cash Flow | Forward energy prices ($/MWh) (a) | $34.45 - $107.30 per MWh | $57.96 | ||||||||||||
| Electricity | (7) | Discounted Cash Flow | Forward capacity prices ($/kW-month) (a) | $0.73 - $7.14 per kW-month | $3.27 | ||||||||||||
| Transmission Congestion Contracts | 1 | Discounted Cash Flow | Inter-zonal forward price curves adjusted for historical zonal losses ($/MWh) (b) | $(0.03) -$2.85 per MWh | $1.06 | ||||||||||||
| Total CECONY—Commodity | $(7) | ||||||||||||||||
| For the Three Months Ended September 30, | ||||||||||||||
| Con Edison | CECONY | |||||||||||||
| (Millions of Dollars) | 2025 | 2024 | 2025 | 2024 | ||||||||||
| Beginning balance as of July 1, | $(17) | $(11) | $(8) | $(6) | ||||||||||
| Included in earnings | 2 | (1) | 1 | — | ||||||||||
| Included in regulatory assets and liabilities | 5 | (15) | 1 | (12) | ||||||||||
| Settlements | (2) | 2 | (1) | 1 | ||||||||||
| Ending balance as of September 30, | $(12) | $(25) | $(7) | $(17) | ||||||||||
| For the Nine Months Ended September 30, | ||||||||||||||
| Con Edison | CECONY | |||||||||||||
| (Millions of Dollars) | 2025 | 2024 | 2025 | 2024 | ||||||||||
| Beginning balance as of January 1, | $(15) | $(8) | $(6) | $(5) | ||||||||||
| Included in earnings | (1) | (6) | 1 | (2) | ||||||||||
| Included in regulatory assets and liabilities | 3 | (13) | (1) | (8) | ||||||||||
| Settlements | 1 | 7 | (1) | 3 | ||||||||||
| Transfer out of level 3 | — | (5) | — | (5) | ||||||||||
| Ending balance as of September 30, | $(12) | $(25) | $(7) | $(17) | ||||||||||
| For the Three Months Ended September 30, | ||||||||
CECONY | ||||||||
| (Millions of Dollars) | 2025 | 2024 | ||||||
| Cost of services provided | $41 | $39 | ||||||
| Cost of services received | $21 | $21 | ||||||
| For the Nine Months Ended September 30, | ||||||||
CECONY | ||||||||
| (Millions of Dollars) | 2025 | 2024 | ||||||
| Cost of services provided | $118 | $106 | ||||||
| Cost of services received | $64 | $62 | ||||||
| Con Edison | |||||||||||||||||||||||
| CECONY | O&R | Con Edison Transmission | |||||||||||||||||||||
•RECO | |||||||||||||||||||||||
| For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | |||||||||||||||||||
| (Millions of Dollars, except per share amounts) | Net Income for Common Stock | Earnings per Share | Net Income for Common Stock | Earnings per Share | ||||||||||||||||||||||
| CECONY | $639 | $537 | $1.77 | $1.55 | $1,606 | $1,417 | $4.51 | $4.10 | ||||||||||||||||||
| O&R | 41 | 42 | 0.11 | 0.12 | 94 | 82 | 0.26 | 0.24 | ||||||||||||||||||
| Con Edison Transmission (a) | 11 | 11 | 0.04 | 0.03 | 31 | 35 | 0.09 | 0.10 | ||||||||||||||||||
| Other (b) | (3) | (2) | (0.01) | — | (5) | (24) | (0.02) | (0.07) | ||||||||||||||||||
| Con Edison (c) | $688 | $588 | $1.91 | $1.70 | $1,726 | $1,510 | $4.84 | $4.37 | ||||||||||||||||||
| For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||||||||||||
| (Millions of Dollars) | 2025 | 2024 | 2025 | 2024 | ||||||||||
| CECONY | ||||||||||||||
| Operations | $500 | $472 | $1,494 | $1,457 | ||||||||||
| Pensions and other postretirement benefits | 7 | 35 | 20 | 104 | ||||||||||
| Health care and other benefits | 60 | 53 | 159 | 140 | ||||||||||
| Regulatory fees and assessments (a) | 125 | 136 | 367 | 350 | ||||||||||
| Other (b) | 179 | 184 | 511 | 488 | ||||||||||
| Total CECONY | $871 | $880 | $2,551 | $2,539 | ||||||||||
| O&R | 92 | 104 | 280 | 294 | ||||||||||
| Con Edison Transmission | 2 | 2 | 8 | 8 | ||||||||||
| Other (c) | — | — | 1 | — | ||||||||||
| Total other operations and maintenance expenses | $965 | $986 | $2,840 | $2,841 | ||||||||||
| CECONY | O&R | Con Edison Transmission | Other (a) | Con Edison (b) | ||||||||||||||||||||||||||||
| (Millions of Dollars) | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||||
| Operating revenues | $4,181 | $3,762 | $349 | $329 | $1 | $1 | $(1) | $— | $4,530 | $4,092 | ||||||||||||||||||||||
| Purchased power | 777 | 642 | 128 | 101 | — | — | — | — | 905 | 743 | ||||||||||||||||||||||
| Fuel | 40 | 27 | — | — | — | — | — | — | 40 | 27 | ||||||||||||||||||||||
| Gas purchased for resale | 97 | 59 | 16 | 7 | — | — | — | 1 | 113 | 67 | ||||||||||||||||||||||
| Other operations and maintenance | 871 | 880 | 92 | 104 | 2 | 2 | — | — | 965 | 986 | ||||||||||||||||||||||
| Depreciation and amortization | 554 | 520 | 32 | 30 | — | — | — | — | 586 | 550 | ||||||||||||||||||||||
| Taxes, other than income taxes | 928 | 831 | 24 | 24 | — | — | 1 | 2 | 953 | 857 | ||||||||||||||||||||||
| Operating income (loss) | 914 | 803 | 57 | 63 | (1) | (1) | (2) | (3) | 968 | 862 | ||||||||||||||||||||||
| Other income | 201 | 138 | 12 | 8 | 16 | 16 | 2 | 3 | 231 | 165 | ||||||||||||||||||||||
| Net interest expense | 289 | 285 | 16 | 17 | — | — | 4 | 4 | 309 | 306 | ||||||||||||||||||||||
| Income (loss) before income tax expense | 826 | 656 | 53 | 54 | 15 | 15 | (4) | (4) | 890 | 721 | ||||||||||||||||||||||
| Income tax expense (benefit) | 187 | 119 | 12 | 12 | 4 | 4 | (1) | (2) | 202 | 133 | ||||||||||||||||||||||
| Net income (loss) for common stock | $639 | $537 | $41 | $42 | $11 | $11 | $(3) | $(2) | $688 | $588 | ||||||||||||||||||||||
| For the Three Months Ended September 30, 2025 | For the Three Months Ended September 30, 2024 | ||||||||||||||||||||||||||||
| (Millions of Dollars) | Electric | Gas | Steam | 2025 Total | Electric | Gas | Steam | 2024 Total | 2025-2024 Variation | ||||||||||||||||||||
| Operating revenues | $3,733 | $392 | $56 | $4,181 | $3,376 | $337 | $49 | $3,762 | $419 | ||||||||||||||||||||
| Purchased power | 769 | — | 8 | 777 | 637 | — | 5 | 642 | 135 | ||||||||||||||||||||
| Fuel | 41 | — | (1) | 40 | 27 | — | — | 27 | 13 | ||||||||||||||||||||
| Gas purchased for resale | — | 97 | — | 97 | — | 59 | — | 59 | 38 | ||||||||||||||||||||
| Other operations and maintenance | 686 | 132 | 53 | 871 | 696 | 132 | 52 | 880 | (9) | ||||||||||||||||||||
| Depreciation and amortization | 403 | 122 | 29 | 554 | 376 | 117 | 27 | 520 | 34 | ||||||||||||||||||||
| Taxes, other than income taxes | 710 | 163 | 55 | 928 | 642 | 141 | 48 | 831 | 97 | ||||||||||||||||||||
| Operating income (loss) | $1,124 | $(122) | $(88) | $914 | $998 | $(112) | $(83) | $803 | $111 | ||||||||||||||||||||
| For the Three Months Ended | |||||||||||
| (Millions of Dollars) | September 30, 2025 | September 30, 2024 | Variation | ||||||||
| Operating revenues | $3,733 | $3,376 | $357 | ||||||||
| Purchased power | 769 | 637 | 132 | ||||||||
| Fuel | 41 | 27 | 14 | ||||||||
| Other operations and maintenance | 686 | 696 | (10) | ||||||||
| Depreciation and amortization | 403 | 376 | 27 | ||||||||
| Taxes, other than income taxes | 710 | 642 | 68 | ||||||||
| Electric operating income | $1,124 | $998 | $126 | ||||||||
| Millions of kWh Delivered | Revenues in Millions (a) | ||||||||||||||||||||||||||||
| For the Three Months Ended | For the Three Months Ended | ||||||||||||||||||||||||||||
| Description | September 30, 2025 | September 30, 2024 | Variation | Percent Variation | September 30, 2025 | September 30, 2024 | Variation | Percent Variation | |||||||||||||||||||||
| Residential/Religious (b) | 4,158 | 4,155 | 3 | 0.1 | % | $1,514 | $1,438 | $76 | 5.3 | % | |||||||||||||||||||
| Commercial/Industrial | 3,035 | 2,947 | 88 | 3.0 | 964 | 846 | 118 | 13.9 | |||||||||||||||||||||
| Retail choice customers | 5,928 | 6,168 | (240) | (3.9) | 954 | 940 | 14 | 1.5 | |||||||||||||||||||||
| NYPA, Municipal Agency and other sales | 2,571 | 2,653 | (82) | (3.1) | 293 | 290 | 3 | 1.0 | |||||||||||||||||||||
| Other operating revenues (c) | — | — | — | — | 8 | (138) | 146 | Large | |||||||||||||||||||||
| Total | 15,692 | 15,923 | (231) | (1.5) | % | (d) | $3,733 | $3,376 | $357 | 10.6 | % | ||||||||||||||||||
| For the Three Months Ended | |||||||||||
| (Millions of Dollars) | September 30, 2025 | September 30, 2024 | Variation | ||||||||
| Operating revenues | $392 | $337 | $55 | ||||||||
| Gas purchased for resale | 97 | 59 | 38 | ||||||||
| Other operations and maintenance | 132 | 132 | — | ||||||||
| Depreciation and amortization | 122 | 117 | 5 | ||||||||
| Taxes, other than income taxes | 163 | 141 | 22 | ||||||||
| Gas operating loss | $(122) | $(112) | $(10) | ||||||||
| Thousands of Dt Delivered | Revenues in Millions (a) | ||||||||||||||||||||||||||||
| For the Three Months Ended | For the Three Months Ended | ||||||||||||||||||||||||||||
| Description | September 30, 2025 | September 30, 2024 | Variation | Percent Variation | September 30, 2025 | September 30, 2024 | Variation | Percent Variation | |||||||||||||||||||||
| Residential | 3,896 | 3,557 | 339 | 9.5 | % | $157 | $133 | $24 | 18.0 | % | |||||||||||||||||||
| General | 4,891 | 3,252 | 1,639 | 50.4 | 105 | 72 | 33 | 45.8 | |||||||||||||||||||||
| Firm transportation | 9,014 | 9,726 | (712) | (7.3) | 109 | 103 | 6 | 5.8 | |||||||||||||||||||||
| Total firm sales and transportation | 17,801 | 16,535 | 1,266 | 7.7 | % | (b) | $371 | $308 | $63 | 20.5 | % | ||||||||||||||||||
| Interruptible sales | 663 | 496 | 167 | 33.7 | 4 | 5 | (1) | (20.0) | |||||||||||||||||||||
| NYPA | 13,036 | 15,611 | (2,575) | (16.5) | 1 | 1 | — | — | |||||||||||||||||||||
| Generation plants | 24,107 | 21,255 | 2,852 | 13.4 | 7 | 8 | (1) | (12.5) | |||||||||||||||||||||
| Other | 3,932 | 3,966 | (34) | (0.9) | 6 | 6 | — | — | |||||||||||||||||||||
| Other operating revenues (c) | — | — | — | — | 3 | 9 | (6) | (66.7) | |||||||||||||||||||||
| Total | 59,539 | 57,863 | 1,676 | 2.9 | % | $392 | $337 | $55 | 16.3 | % | |||||||||||||||||||
| For the Three Months Ended | |||||||||||
| (Millions of Dollars) | September 30, 2025 | September 30, 2024 | Variation | ||||||||
| Operating revenues | $56 | $49 | $7 | ||||||||
| Purchased power | 8 | 5 | 3 | ||||||||
| Fuel | (1) | — | (1) | ||||||||
| Other operations and maintenance | 53 | 52 | 1 | ||||||||
| Depreciation and amortization | 29 | 27 | 2 | ||||||||
| Taxes, other than income taxes | 55 | 48 | 7 | ||||||||
| Steam operating loss | $(88) | $(83) | $(5) | ||||||||
| Millions of Pounds Delivered | Revenues in Millions | ||||||||||||||||||||||||||||
| For the Three Months Ended | For the Three Months Ended | ||||||||||||||||||||||||||||
| Description | September 30, 2025 | September 30, 2024 | Variation | Percent Variation | September 30, 2025 | September 30, 2024 | Variation | Percent Variation | |||||||||||||||||||||
| General | 9 | 15 | (6) | (40.0) | % | $2 | $2 | $— | — | % | |||||||||||||||||||
| Apartment house | 583 | 591 | (8) | (1.4) | 16 | 14 | 2 | 14.3 | |||||||||||||||||||||
| Annual power | 1,682 | 1,677 | 5 | 0.3 | 39 | 34 | 5 | 14.7 | |||||||||||||||||||||
| Other operating revenues (a) | — | — | — | — | (1) | (1) | — | — | |||||||||||||||||||||
| Total | 2,274 | 2,283 | (9) | (0.4) | % | (b) | $56 | $49 | $7 | 14.3 | % | ||||||||||||||||||
| For the Three Months Ended September 30, | |||||||||||||||||
| (Millions of Dollars) | 2025 | 2024 | Variation | ||||||||||||||
| Property taxes | $787 | $772 | $15 | ||||||||||||||
| State and local taxes related to revenue receipts | 115 | 115 | — | ||||||||||||||
| Payroll taxes | 20 | 20 | — | ||||||||||||||
| Other taxes (b) | 6 | (76) | 82 | ||||||||||||||
| Total | $928 | (a) | $831 | (a) | $97 | ||||||||||||
| For the Three Months Ended September 30, 2025 | For the Three Months Ended September 30, 2024 | ||||||||||||||||||||||
| (Millions of Dollars) | Electric | Gas | 2025 Total | Electric | Gas | 2024 Total | 2025-2024 Variation | ||||||||||||||||
| Operating revenues | $308 | $41 | $349 | $293 | $36 | $329 | $20 | ||||||||||||||||
| Purchased power | 128 | — | 128 | 101 | — | 101 | 27 | ||||||||||||||||
| Gas purchased for resale | — | 16 | 16 | — | 7 | 7 | 9 | ||||||||||||||||
| Other operations and maintenance | 71 | 21 | 92 | 83 | 21 | 104 | (12) | ||||||||||||||||
| Depreciation and amortization | 22 | 10 | 32 | 21 | 9 | 30 | 2 | ||||||||||||||||
| Taxes, other than income taxes | 16 | 8 | 24 | 16 | 8 | 24 | — | ||||||||||||||||
| Operating income (loss) | $71 | $(14) | $57 | $72 | $(9) | $63 | $(6) | ||||||||||||||||
| For the Three Months Ended | |||||||||||
| (Millions of Dollars) | September 30, 2025 | September 30, 2024 | Variation | ||||||||
| Operating revenues | $308 | $293 | $15 | ||||||||
| Purchased power | 128 | 101 | 27 | ||||||||
| Other operations and maintenance | 71 | 83 | (12) | ||||||||
| Depreciation and amortization | 22 | 21 | 1 | ||||||||
| Taxes, other than income taxes | 16 | 16 | — | ||||||||
| Electric operating income | $71 | $72 | $(1) | ||||||||
| Millions of kWh Delivered | Revenues in Millions (a) | ||||||||||||||||||||||||||||
| For the Three Months Ended | For the Three Months Ended | ||||||||||||||||||||||||||||
| Description | September 30, 2025 | September 30, 2024 | Variation | Percent Variation | September 30, 2025 | September 30, 2024 | Variation | Percent Variation | |||||||||||||||||||||
| Residential/Religious (b) | 796 | 691 | 105 | 15.2 | % | $210 | $162 | $48 | 29.6 | % | |||||||||||||||||||
| Commercial/Industrial | 303 | 269 | 34 | 12.6 | 61 | 57 | 4 | 7.0 | |||||||||||||||||||||
| Retail choice customers | 624 | 721 | (97) | (13.5) | 54 | 68 | (14) | (20.6) | |||||||||||||||||||||
| Public authorities | 32 | 31 | 1 | 3.2 | 4 | 4 | — | — | |||||||||||||||||||||
| Other operating revenues (c) | — | — | — | — | (21) | 2 | (23) | Large | |||||||||||||||||||||
| Total | 1,755 | 1,712 | 43 | 2.5 | % | (d) | $308 | $293 | $15 | 5.1 | % | ||||||||||||||||||
| For the Three Months Ended | |||||||||||
| (Millions of Dollars) | September 30, 2025 | September 30, 2024 | Variation | ||||||||
| Operating revenues | $41 | $36 | $5 | ||||||||
| Gas purchased for resale | 16 | 7 | 9 | ||||||||
| Other operations and maintenance | 21 | 21 | — | ||||||||
| Depreciation and amortization | 10 | 9 | 1 | ||||||||
| Taxes, other than income taxes | 8 | 8 | — | ||||||||
| Gas operating income (loss) | $(14) | $(9) | $(5) | ||||||||
| Thousands of Dt Delivered | Revenues in Millions (a) | ||||||||||||||||||||||||||||
| For the Three Months Ended | For the Three Months Ended | ||||||||||||||||||||||||||||
| Description | September 30, 2025 | September 30, 2024 | Variation | Percent Variation | September 30, 2025 | September 30, 2024 | Variation | Percent Variation | |||||||||||||||||||||
| Residential | 913 | 863 | 50 | 5.8 | % | $22 | $16 | $6 | 37.5 | % | |||||||||||||||||||
| General | 268 | 184 | 84 | 45.7 | 5 | 3 | 2 | 66.7 | |||||||||||||||||||||
| Firm transportation | 454 | 542 | (88) | (16.2) | 4 | 5 | (1) | (20.0) | |||||||||||||||||||||
| Total firm sales and transportation | 1,635 | 1,589 | 46 | 2.9 | % | (b) | $31 | $24 | $7 | 29.2 | % | ||||||||||||||||||
| Interruptible sales | 826 | 108 | 718 | Large | 1 | 1 | — | — | |||||||||||||||||||||
| Generation plants | — | 3 | (3) | Large | — | 1 | (1) | Large | |||||||||||||||||||||
| Other | 69 | 6 | 63 | Large | 1 | 1 | — | — | |||||||||||||||||||||
| Other gas revenues | — | — | — | — | 9 | 9 | — | Large | |||||||||||||||||||||
| Total | 2,530 | 1,706 | 824 | 48.3 | % | $42 | $36 | $6 | 16.7 | % | |||||||||||||||||||
| For the Three Months Ended September 30, | |||||||||||||||||
| (Millions of Dollars) | 2025 | 2024 | Variation | ||||||||||||||
| Property taxes | $18 | $19 | $(1) | ||||||||||||||
| State and local taxes related to revenue receipts | 4 | 3 | 1 | ||||||||||||||
| Payroll taxes | 2 | 2 | — | ||||||||||||||
| Total | $24 | (a) | $24 | (a) | $— | ||||||||||||
| CECONY | O&R | Con Edison Transmission | Other (a) | Con Edison (b) | ||||||||||||||||||||||||||||
| (Millions of Dollars) | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||||
| Operating revenues | $11,963 | $10,730 | $959 | $855 | $3 | $3 | $(1) | $(1) | $12,924 | $11,587 | ||||||||||||||||||||||
| Purchased power | 1,991 | 1,718 | 285 | 224 | — | — | — | — | 2,276 | 1,942 | ||||||||||||||||||||||
| Fuel | 194 | 130 | — | — | — | — | — | — | 194 | 130 | ||||||||||||||||||||||
| Gas purchased for resale | 551 | 352 | 96 | 51 | — | — | (1) | (1) | 646 | 402 | ||||||||||||||||||||||
| Other operations and maintenance | 2,551 | 2,539 | 280 | 294 | 8 | 8 | 1 | — | 2,840 | 2,841 | ||||||||||||||||||||||
| Depreciation and amortization | 1,631 | 1,512 | 94 | 87 | 1 | 1 | — | 1 | 1,726 | 1,601 | ||||||||||||||||||||||
| Taxes, other than income taxes | 2,717 | 2,372 | 72 | 72 | — | — | 5 | 4 | 2,794 | 2,448 | ||||||||||||||||||||||
| Loss on sale of the Clean Energy Businesses | — | — | — | — | — | — | — | (30) | — | (30) | ||||||||||||||||||||||
| Operating income (loss) | 2,328 | 2,107 | 132 | 127 | (6) | (6) | (6) | (35) | 2,448 | 2,193 | ||||||||||||||||||||||
| Other income | 608 | 436 | 35 | 24 | 49 | 46 | 1 | 1 | 693 | 507 | ||||||||||||||||||||||
| Net interest expense | 868 | 825 | 47 | 44 | — | — | 7 | 14 | 922 | 883 | ||||||||||||||||||||||
| Income before income tax expense (benefit) | 2,068 | 1,718 | 120 | 107 | 43 | 40 | (12) | (48) | 2,219 | 1,817 | ||||||||||||||||||||||
| Income tax expense (benefit) | 462 | 301 | 26 | 25 | 12 | 5 | (7) | (24) | 493 | 307 | ||||||||||||||||||||||
| Net income for common stock | $1,606 | $1,417 | $94 | $82 | $31 | $35 | ($5) | $(24) | $1,726 | $1,510 | ||||||||||||||||||||||
| For the Nine Months Ended September 30, 2025 | For the Nine Months Ended September 30, 2024 | ||||||||||||||||||||||||||||
| (Millions of Dollars) | Electric | Gas | Steam | 2025 Total | Electric | Gas | Steam | 2024 Total | 2025-2024 Variation | ||||||||||||||||||||
| Operating revenues | $9,000 | $2,446 | $517 | $11,963 | $8,188 | $2,119 | $423 | $10,730 | $1,233 | ||||||||||||||||||||
| Purchased power | 1,962 | — | 29 | 1,991 | 1,697 | — | 21 | 1,718 | 273 | ||||||||||||||||||||
| Fuel | 122 | — | 72 | 194 | 96 | — | 34 | 130 | 64 | ||||||||||||||||||||
| Gas purchased for resale | — | 551 | — | 551 | — | 352 | — | 352 | 199 | ||||||||||||||||||||
| Other operations and maintenance | 1,980 | 406 | 165 | 2,551 | 1,979 | 407 | 153 | 2,539 | 12 | ||||||||||||||||||||
| Depreciation and amortization | 1,187 | 359 | 85 | 1,631 | 1,090 | 343 | 79 | 1,512 | 119 | ||||||||||||||||||||
| Taxes, other than income taxes | 2,021 | 529 | 167 | 2,717 | 1,815 | 429 | 128 | 2,372 | 345 | ||||||||||||||||||||
| Operating income (loss) | $1,728 | $601 | $(1) | $2,328 | $1,511 | $588 | $8 | $2,107 | $221 | ||||||||||||||||||||
| For the Nine Months Ended | |||||||||||
| (Millions of Dollars) | September 30, 2025 | September 30, 2024 | Variation | ||||||||
| Operating revenues | $9,000 | $8,188 | $812 | ||||||||
| Purchased power | 1,962 | 1,697 | 265 | ||||||||
| Fuel | 122 | 96 | 26 | ||||||||
| Other operations and maintenance | 1,980 | 1,979 | 1 | ||||||||
| Depreciation and amortization | 1,187 | 1,090 | 97 | ||||||||
| Taxes, other than income taxes | 2,021 | 1,815 | 206 | ||||||||
| Electric operating income | $1,728 | $1,511 | $217 | ||||||||
| Millions of kWh Delivered | Revenues in Millions (a) | ||||||||||||||||||||||||||||
| For the Nine Months Ended | For the Nine Months Ended | ||||||||||||||||||||||||||||
| Description | September 30, 2025 | September 30, 2024 | Variation | Percent Variation | September 30, 2025 | September 30, 2024 | Variation | Percent Variation | |||||||||||||||||||||
| Residential/Religious (b) | 9,662 | 9,266 | 396 | 4.3 | % | $3,566 | $3,304 | $262 | 7.9 | % | |||||||||||||||||||
| Commercial/Industrial | 8,367 | 7,827 | 540 | 6.9 | 2,555 | 2,205 | 350 | 15.9 | |||||||||||||||||||||
| Retail choice customers | 15,833 | 15,788 | 45 | 0.3 | 2,160 | 2,069 | 91 | 4.4 | |||||||||||||||||||||
| NYPA, Municipal Agency and other sales | 7,338 | 7,216 | 122 | 1.7 | 710 | 673 | 37 | 5.5 | |||||||||||||||||||||
| Other operating revenues (c) | — | — | — | — | 9 | (63) | 72 | Large | |||||||||||||||||||||
| Total | 41,200 | 40,097 | 1,103 | 2.8 | % | (d) | $9,000 | $8,188 | $812 | 9.9 | % | ||||||||||||||||||
| For the Nine Months Ended | |||||||||||
| (Millions of Dollars) | September 30, 2025 | September 30, 2024 | Variation | ||||||||
| Operating revenues | $2,446 | $2,119 | $327 | ||||||||
| Gas purchased for resale | 551 | 352 | 199 | ||||||||
| Other operations and maintenance | 406 | 407 | (1) | ||||||||
| Depreciation and amortization | 359 | 343 | 16 | ||||||||
| Taxes, other than income taxes | 529 | 429 | 100 | ||||||||
| Gas operating income | $601 | $588 | $13 | ||||||||
| Thousands of Dt Delivered | Revenues in Millions (a) | ||||||||||||||||||||||||||||
| For the Nine Months Ended | For the Nine Months Ended | ||||||||||||||||||||||||||||
| Description | September 30, 2025 | September 30, 2024 | Variation | Percent Variation | September 30, 2025 | September 30, 2024 | Variation | Percent Variation | |||||||||||||||||||||
| Residential | 39,411 | 34,026 | 5,385 | 15.8 | % | $1,032 | $878 | $154 | 17.5 | % | |||||||||||||||||||
| General | 28,434 | 22,485 | 5,949 | 26.5 | 635 | 487 | 148 | 30.4 | |||||||||||||||||||||
| Firm transportation | 60,688 | 55,110 | 5,578 | 10.1 | 743 | 705 | 38 | 5.4 | |||||||||||||||||||||
| Total firm sales and transportation | 128,533 | 111,621 | 16,912 | 15.2 | (b) | 2,410 | 2,070 | 340 | 16.4 | ||||||||||||||||||||
| Interruptible sales | 2,831 | 2,483 | 348 | 14.0 | 23 | 24 | (1) | (4.2) | |||||||||||||||||||||
| NYPA | 32,632 | 44,014 | (11,382) | (25.9) | 2 | 2 | — | — | |||||||||||||||||||||
| Generation plants | 51,377 | 48,169 | 3,208 | 6.7 | 16 | 18 | (2) | (11.1) | |||||||||||||||||||||
| Other | 14,449 | 14,871 | (422) | (2.8) | 32 | 31 | 1 | 3.2 | |||||||||||||||||||||
| Other operating revenues (c) | — | — | — | — | (37) | (26) | (11) | 42.3 | |||||||||||||||||||||
| Total | 229,822 | 221,158 | 8,664 | 3.9 | % | $2,446 | $2,119 | $327 | 15.4 | % | |||||||||||||||||||
| For the Nine Months Ended | |||||||||||
| (Millions of Dollars) | September 30, 2025 | September 30, 2024 | Variation | ||||||||
| Operating revenues | $517 | $423 | $94 | ||||||||
| Purchased power | 29 | 21 | 8 | ||||||||
| Fuel | 72 | 34 | 38 | ||||||||
| Other operations and maintenance | 165 | 153 | 12 | ||||||||
| Depreciation and amortization | 85 | 79 | 6 | ||||||||
| Taxes, other than income taxes | 167 | 128 | 39 | ||||||||
| Steam operating income (loss) | $(1) | $8 | $(9) | ||||||||
| Millions of Pounds Delivered | Revenues in Millions (a) | ||||||||||||||||||||||||||||
| For the Nine Months Ended | For the Nine Months Ended | ||||||||||||||||||||||||||||
| Description | September 30, 2025 | September 30, 2024 | Variation | Percent Variation | September 30, 2025 | September 30, 2024 | Variation | Percent Variation | |||||||||||||||||||||
| General | 373 | 330 | 43 | 13.0 | % | $28 | $23 | $5 | 21.7 | % | |||||||||||||||||||
| Apartment house | 3,818 | 3,612 | 206 | 5.7 | 145 | 119 | 26 | 21.8 | |||||||||||||||||||||
| Annual power | 8,442 | 7,820 | 622 | 8.0 | 352 | 297 | 55 | 18.5 | |||||||||||||||||||||
| Other operating revenues (b) | — | — | — | — | (8) | (16) | 8 | (50.0) | |||||||||||||||||||||
| Total | 12,633 | 11,762 | 871 | 7.4 | % | (c) | $517 | $423 | $94 | 22.2 | % | ||||||||||||||||||
| For the Nine Months Ended September 30, | |||||||||||||||||
| (Millions of Dollars) | 2025 | 2024 | Variation | ||||||||||||||
| Property taxes | $2,235 | $2,071 | $164 | ||||||||||||||
| State and local taxes related to revenue receipts | 345 | 329 | 16 | ||||||||||||||
| Payroll taxes | 77 | 71 | 6 | ||||||||||||||
| Other taxes (b) | 60 | (99) | 159 | ||||||||||||||
| Total | $2,717 | (a) | $2,372 | (a) | $345 | ||||||||||||
| For the Nine Months Ended September 30, 2025 | For the Nine Months Ended September 30, 2024 | ||||||||||||||||||||||
| (Millions of Dollars) | Electric | Gas | 2025 Total | Electric | Gas | 2024 Total | 2025-2024 Variation | ||||||||||||||||
| Operating revenues | $719 | $240 | $959 | $662 | $193 | $855 | $104 | ||||||||||||||||
| Purchased power | 285 | — | 285 | 224 | — | 224 | 61 | ||||||||||||||||
| Gas purchased for resale | — | 96 | 96 | — | 51 | 51 | 45 | ||||||||||||||||
| Other operations and maintenance | 219 | 61 | 280 | 233 | 61 | 294 | (14) | ||||||||||||||||
| Depreciation and amortization | 65 | 29 | 94 | 61 | 26 | 87 | 7 | ||||||||||||||||
| Taxes, other than income taxes | 47 | 25 | 72 | 47 | 25 | 72 | — | ||||||||||||||||
| Operating income | $103 | $29 | $132 | $97 | $30 | $127 | $5 | ||||||||||||||||
| For the Nine Months Ended | |||||||||||
| (Millions of Dollars) | September 30, 2025 | September 30, 2024 | Variation | ||||||||
| Operating revenues | $719 | $662 | $57 | ||||||||
| Purchased power | 285 | 224 | 61 | ||||||||
| Other operations and maintenance | 219 | 233 | (14) | ||||||||
| Depreciation and amortization | 65 | 61 | 4 | ||||||||
| Taxes, other than income taxes | 47 | 47 | — | ||||||||
| Electric operating income | $103 | $97 | $6 | ||||||||
| Millions of kWh Delivered | Revenues in Millions (a) | ||||||||||||||||||||||||||||
| For the Nine Months Ended | For the Nine Months Ended | ||||||||||||||||||||||||||||
| Description | September 30, 2025 | September 30, 2024 | Variation | Percent Variation | September 30, 2025 | September 30, 2024 | Variation | Percent Variation | |||||||||||||||||||||
| Residential/Religious (b) | 1,829 | 1,668 | 161 | 9.7 | % | $450 | $365 | $85 | 23.3 | % | |||||||||||||||||||
| Commercial/Industrial | 837 | 730 | 107 | 14.7 | 160 | 131 | 29 | 22.1 | |||||||||||||||||||||
| Retail choice customers | 1,686 | 1,938 | (252) | (13.0) | 125 | 157 | (32) | (20.4) | |||||||||||||||||||||
| Public authorities | 88 | 86 | 2 | 2.3 | 11 | 9 | 2 | 22.2 | |||||||||||||||||||||
| Other operating revenues (c) | — | — | — | — | (27) | — | (27) | Large | |||||||||||||||||||||
| Total | 4,440 | 4,422 | 18 | 0.4 | % | (d) | $719 | $662 | $57 | 8.6 | % | ||||||||||||||||||
| For the Nine Months Ended | |||||||||||
| (Millions of Dollars) | September 30, 2025 | September 30, 2024 | Variation | ||||||||
| Operating revenues | $240 | $193 | $47 | ||||||||
| Gas purchased for resale | 96 | 51 | 45 | ||||||||
| Other operations and maintenance | 61 | 61 | — | ||||||||
| Depreciation and amortization | 29 | 26 | 3 | ||||||||
| Taxes, other than income taxes | 25 | 25 | — | ||||||||
| Gas operating income | $29 | $30 | $(1) | ||||||||
| Thousands of Dt Delivered | Revenues in Millions (a) | ||||||||||||||||||||||||||||
| For the Nine Months Ended | For the Nine Months Ended | ||||||||||||||||||||||||||||
| Description | September 30, 2025 | September 30, 2024 | Variation | Percent Variation | September 30, 2025 | September 30, 2024 | Variation | Percent Variation | |||||||||||||||||||||
| Residential | 9,727 | 8,620 | 1,107 | 12.8 | % | $172 | $133 | $39 | 29.3 | % | |||||||||||||||||||
| General | 2,177 | 1,377 | 800 | 58.1 | 30 | 17 | 13 | 76.5 | |||||||||||||||||||||
| Firm transportation | 3,826 | 3,869 | (43) | (1.1) | 30 | 29 | 1 | 3.4 | |||||||||||||||||||||
| Total firm sales and transportation | 15,730 | 13,866 | 1,864 | 13.4 | (b) | $232 | $179 | $53 | 29.6 | ||||||||||||||||||||
| Interruptible sales | 2,755 | 1,411 | 1,344 | 95.3 | 5 | 5 | — | — | |||||||||||||||||||||
| Generation plants | 2 | 4 | (2) | (50.0) | — | 1 | (1) | Large | |||||||||||||||||||||
| Other | 524 | 49 | 475 | Large | 1 | 1 | — | — | |||||||||||||||||||||
| Other gas revenues | — | — | — | — | 2 | 7 | (5) | (71.4) | |||||||||||||||||||||
| Total | 19,011 | 15,330 | 3,681 | 24.0 | % | $240 | $193 | $47 | 24.4 | % | |||||||||||||||||||
| For the Nine Months Ended September 30, | |||||||||||||||||
| (Millions of Dollars) | 2025 | 2024 | Variation | ||||||||||||||
| Property taxes | $53 | $54 | $(1) | ||||||||||||||
| State and local taxes related to revenue receipts | 11 | 10 | 1 | ||||||||||||||
| Payroll taxes | 8 | 8 | — | ||||||||||||||
| Total | $72 | (a) | $72 | (a) | $— | ||||||||||||
| For the Nine Months Ended September 30, | ||||||||||||||||||||||||||||||||
| CECONY | O&R | Con Edison Transmission | Other (a)(b) | Con Edison (b) | ||||||||||||||||||||||||||||
| (Millions of Dollars) | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||||
| Operating activities | $3,111 | $2,087 | $204 | $121 | $33 | $13 | $(28) | $83 | $3,320 | $2,304 | ||||||||||||||||||||||
Investing activities | (3,497) | (3,642) | (297) | (226) | (36) | (23) | 44 | 2 | (3,786) | (3,889) | ||||||||||||||||||||||
| Financing activities | (829) | 450 | 180 | 121 | (5) | (2) | (31) | (77) | (685) | 492 | ||||||||||||||||||||||
| Net change for the period | (1,215) | (1,105) | 87 | 16 | (8) | (12) | (15) | 8 | (1,151) | (1,093) | ||||||||||||||||||||||
| Balance at beginning of period | 1,254 | 1,138 | 38 | 23 | 23 | 25 | 18 | 9 | 1,333 | 1,195 | ||||||||||||||||||||||
| Balance at end of period (c) | $39 | $33 | $125 | $39 | $15 | $13 | $3 | $17 | $182 | $102 | ||||||||||||||||||||||
| Less: Balance held for sale (d) | — | — | — | — | — | — | — | 9 | — | 9 | ||||||||||||||||||||||
| Balance at end of period excluding held for sale | $39 | $33 | $125 | $39 | $15 | $13 | $3 | $8 | $182 | $93 | ||||||||||||||||||||||
| For the Nine Months Ended September 30, | |||||||||||
| (Millions of Dollars) | 2025 | 2024 | Variance | ||||||||
| INVESTING ACTIVITIES | |||||||||||
| Utility capital expenditures | $(3,460) | $(3,533) | $73 | ||||||||
| Cost of removal less salvage | (335) | (335) | — | ||||||||
| Proceeds from sale of Broken Bow II, net of cash and cash equivalents sold | 45 | — | 45 | ||||||||
| Other investing activities | (36) | (21) | (15) | ||||||||
| NET CASH FLOWS USED IN INVESTING ACTIVITIES | $(3,786) | $(3,889) | $103 | ||||||||
| For the Nine Months Ended September 30, | |||||||||||
| (Millions of Dollars) | 2025 | 2024 | Variance | ||||||||
| INVESTING ACTIVITIES | |||||||||||
| Utility capital expenditures | $(3,169) | $(3,312) | $143 | ||||||||
| Cost of removal less salvage | (328) | (330) | 2 | ||||||||
| NET CASH FLOWS USED IN INVESTING ACTIVITIES | $(3,497) | $(3,642) | $145 | ||||||||
| For the Nine Months Ended September 30, | |||||||||||
| (Millions of Dollars) | 2025 | 2024 | Variance | ||||||||
| FINANCING ACTIVITIES | |||||||||||
| Net payment of short-term debt | $(1,618) | $(229) | $(1,389) | ||||||||
| Issuance of long-term debt | 250 | 1,525 | $(1,275) | ||||||||
| Borrowing under term loan | 200 | — | 200 | ||||||||
| Debt issuance costs | (3) | (25) | 22 | ||||||||
| Common stock dividends | (871) | (824) | (47) | ||||||||
| Issuance of common shares - public offering | 1,308 | — | 1,308 | ||||||||
| Issuance of common shares for stock plans | 49 | 45 | 4 | ||||||||
| NET CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES | $(685) | $492 | $(1,177) | ||||||||
| For the Nine Months Ended September 30, | |||||||||||
| (Millions of Dollars) | 2025 | 2024 | Variance | ||||||||
| FINANCING ACTIVITIES | |||||||||||
| Net payment of short-term debt | $(1,450) | $(227) | $(1,223) | ||||||||
| Issuance of long-term debt | — | 1,400 | $(1,400) | ||||||||
| Borrowing under term loan | 200 | — | 200 | ||||||||
| Debt issuance costs | (2) | (24) | 22 | ||||||||
| Capital contribution by Con Edison | 1,275 | 105 | 1,170 | ||||||||
| Dividend to Con Edison | (852) | (804) | (48) | ||||||||
| NET CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES | $(829) | $450 | $(1,279) | ||||||||
| 2025 | 2024 | |||||||||||||
| (Millions of Dollars, except Weighted Average Yield) | Outstanding at September 30, | Daily average | Outstanding at September 30, | Daily average | ||||||||||
| Con Edison | $552 | $879 | $2,059 | $1,939 | ||||||||||
| CECONY | $244 | $484 | $1,676 | $1,487 | ||||||||||
| Weighted average yield | 4.3 | % | 4.6 | % | 5.1 | % | 5.5 | % | ||||||
(Millions of Dollars) | 2028 | 2027 | 2026 | ||||||||
| CECONY (a) | |||||||||||
| Electric | $5,016 | $4,850 | $4,770 | ||||||||
| Gas | $1,065 | $1,057 | $1,094 | ||||||||
| Common Equity Ratio (Percent of total capitalization) | ||||||||
| September 30, 2025 | December 31, 2024 | |||||||
| Con Edison | 49.2 | 47.1 | ||||||
| CECONY | 48.4 | 46.0 | ||||||
| CECONY | O&R | Con Edison Transmission | Other (a) | Con Edison (b) | ||||||||||||||||||||||||||||
| (Millions of Dollars) | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||||
| ASSETS | ||||||||||||||||||||||||||||||||
Current assets | $5,039 | $6,298 | $437 | $385 | $28 | $26 | $(44) | $(45) | $5,460 | $6,664 | ||||||||||||||||||||||
| Investments | 753 | 684 | 22 | 23 | 454 | 419 | — | — | 1,229 | 1,126 | ||||||||||||||||||||||
| Net plant | 50,982 | 48,983 | 3,399 | 3,166 | 16 | 17 | — | (1) | 54,397 | 52,165 | ||||||||||||||||||||||
| Other noncurrent assets | 9,862 | 9,685 | 483 | 486 | 7 | 7 | 406 | 429 | 10,758 | 10,607 | ||||||||||||||||||||||
| Total Assets | $66,636 | $65,650 | $4,341 | $4,060 | $505 | $469 | $362 | $383 | $71,844 | $70,562 | ||||||||||||||||||||||
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||||||||||||||||||||||||||||
| Current liabilities | $4,458 | $5,559 | $332 | $467 | $3 | $7 | $286 | $400 | $5,079 | $6,433 | ||||||||||||||||||||||
| Noncurrent liabilities | 16,763 | 16,711 | 1,227 | 1,209 | (51) | (65) | (251) | (339) | 17,688 | 17,516 | ||||||||||||||||||||||
| Long-term debt | 23,418 | 23,409 | 1,491 | 1,242 | — | — | — | — | 24,909 | 24,651 | ||||||||||||||||||||||
| Equity | 21,997 | 19,971 | 1,291 | 1,142 | 553 | 527 | 327 | 322 | 24,168 | 21,962 | ||||||||||||||||||||||
| Total Liabilities and Equity | $66,636 | $65,650 | $4,341 | $4,060 | $505 | $469 | $362 | $383 | $71,844 | $70,562 | ||||||||||||||||||||||
| Ownership Interest | In-Service Date/Anticipated | Base Return on Common Equity (ROE) | Incentives | Effective Total ROE | Common Equity Ratio | |||||||||||||||
Transmission Owner Transmission Solutions (TOTS) (a) | 45.7% | 2016 | 9.50% | 0.50% | 10% | 53% | ||||||||||||||
New York Energy Solution (NYES) (b) | 45.7% | 2023/2025 | 9.65% | 0.50% - 1% | 10.55% | 53% | ||||||||||||||
Propel NY Energy (c) | 41.7% of New York Transco's Share | 2030 | 10.30% | 1% | 11.3% | 53% | ||||||||||||||
| Exhibit 31.1.1 | |||||
| Exhibit 31.1.2 | |||||
| Exhibit 32.1.1 | |||||
| Exhibit 32.1.2 | |||||
| Exhibit 101.INS | XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. | ||||
| Exhibit 101.SCH | XBRL Taxonomy Extension Schema. | ||||
| Exhibit 101.CAL | XBRL Taxonomy Extension Calculation Linkbase. | ||||
| Exhibit 101.DEF | XBRL Taxonomy Extension Definition Linkbase. | ||||
| Exhibit 101.LAB | XBRL Taxonomy Extension Label Linkbase. | ||||
| Exhibit 101.PRE | XBRL Taxonomy Extension Presentation Linkbase. | ||||
| Exhibit 104 | Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. | ||||
| Exhibit 31.2.1 | |||||
| Exhibit 31.2.2 | |||||
| Exhibit 32.2.1 | |||||
| Exhibit 32.2.2 | |||||
| Exhibit 101.INS | XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. | ||||
| Exhibit 101.SCH | XBRL Taxonomy Extension Schema. | ||||
| Exhibit 101.CAL | XBRL Taxonomy Extension Calculation Linkbase. | ||||
| Exhibit 101.DEF | XBRL Taxonomy Extension Definition Linkbase. | ||||
| Exhibit 101.LAB | XBRL Taxonomy Extension Label Linkbase. | ||||
| Exhibit 101.PRE | XBRL Taxonomy Extension Presentation Linkbase. | ||||
| Exhibit 104 | Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. | ||||
| Consolidated Edison, Inc. | ||||||||
| Consolidated Edison Company of New York, Inc. | ||||||||
| Date: November 6, 2025 | By | /s/ Kirkland B. Andrews | ||||||
| Kirkland B. Andrews Senior Vice President, Chief Financial Officer and Duly Authorized Officer | ||||||||
| /s/ Timothy P. Cawley | ||
| Timothy P. Cawley | ||
| Chairman, President and Chief Executive Officer | ||
| /s/ Kirkland B. Andrews | ||
| Kirkland B. Andrews | ||
| Senior Vice President and Chief Financial Officer | ||
| /s/ Timothy P. Cawley | ||
| Timothy P. Cawley | ||
| Chairman and Chief Executive Officer | ||
| /s/ Kirkland B. Andrews | ||
| Kirkland B. Andrews | ||
| Senior Vice President and Chief Financial Officer | ||
| /s/ Timothy P. Cawley | ||
| Timothy P. Cawley | ||
| /s/ Kirkland B. Andrews | ||
| Kirkland B. Andrews | ||
| /s/ Timothy P. Cawley | ||
| Timothy P. Cawley | ||
| /s/ Kirkland B. Andrews | ||
| Kirkland B. Andrews | ||