| ☒ | 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 | |||||||
| 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 | |||||||
Second Quarter Financial Statements | Consolidated financial statements included in the Companies' Quarterly Report on Form 10-Q for the quarterly period ended June 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 | |||||||
| PAGE | ||||||||
| ITEM 1 | Financial Statements (Unaudited) | |||||||
| Con Edison | ||||||||
| CECONY | ||||||||
| ITEM 2 | ||||||||
| ITEM 3 | ||||||||
| ITEM 4 | ||||||||
| ITEM 1 | ||||||||
| ITEM 1A | ||||||||
| ITEM 5 | ||||||||
| ITEM 6 | ||||||||
| For the Three Months Ended June 30, | For the Six Months Ended June 30, | |||||||||||||
| (Millions of Dollars/Except Share Data) | 2026 | 2025 | 2026 | 2025 | ||||||||||
| OPERATING REVENUES | ||||||||||||||
| Electric | $3,139 | $2,777 | $6,177 | $5,678 | ||||||||||
| Gas | 811 | 711 | 2,435 | 2,253 | ||||||||||
| Steam | 118 | 106 | 550 | 460 | ||||||||||
| Non-utility | 1 | 1 | 2 | 2 | ||||||||||
| TOTAL OPERATING REVENUES | 4,069 | 3,595 | 9,164 | 8,393 | ||||||||||
| OPERATING EXPENSES | ||||||||||||||
| Purchased power | 837 | 649 | 1,593 | 1,370 | ||||||||||
| Fuel | 56 | 27 | 245 | 154 | ||||||||||
| Gas purchased for resale | 156 | 171 | 582 | 533 | ||||||||||
| Other operations and maintenance | 913 | 923 | 1,851 | 1,875 | ||||||||||
| Depreciation and amortization | 578 | 576 | 1,150 | 1,140 | ||||||||||
| Taxes, other than income taxes | 977 | 894 | 2,013 | 1,841 | ||||||||||
| TOTAL OPERATING EXPENSES | 3,517 | 3,240 | 7,434 | 6,913 | ||||||||||
| OPERATING INCOME | 552 | 355 | 1,730 | 1,480 | ||||||||||
| Gain on sale of equity interest in Mountain Valley Pipeline, LLC | — | — | 189 | — | ||||||||||
| OTHER INCOME (DEDUCTIONS) | ||||||||||||||
| Investment income | 11 | 17 | 29 | 33 | ||||||||||
| Other income | 148 | 214 | 289 | 415 | ||||||||||
| Allowance for equity funds used during construction | 24 | 18 | 47 | 36 | ||||||||||
| Other deductions | (13) | (8) | (27) | (22) | ||||||||||
| TOTAL OTHER INCOME | 170 | 241 | 338 | 462 | ||||||||||
| INCOME BEFORE INTEREST AND INCOME TAX EXPENSE | 722 | 596 | 2,257 | 1,942 | ||||||||||
| INTEREST EXPENSE (INCOME) | ||||||||||||||
| Interest on long-term debt | 313 | 292 | 621 | 584 | ||||||||||
| Other interest expense | 20 | 26 | 38 | 64 | ||||||||||
| Allowance for borrowed funds used during construction | (19) | (18) | (37) | (36) | ||||||||||
| NET INTEREST EXPENSE | 314 | 300 | 622 | 612 | ||||||||||
| INCOME BEFORE INCOME TAX EXPENSE | 408 | 296 | 1,635 | 1,330 | ||||||||||
| INCOME TAX EXPENSE | 100 | 50 | 403 | 292 | ||||||||||
| NET INCOME FOR COMMON STOCK | $308 | $246 | $1,232 | $1,038 | ||||||||||
| Net income per common share - basic | $0.83 | $0.68 | $3.37 | $2.93 | ||||||||||
| Net income per common share - diluted | $0.83 | $0.68 | $3.36 | $2.92 | ||||||||||
| AVERAGE NUMBER OF SHARES OUTSTANDING—BASIC (IN MILLIONS) | 368.8 | 360.4 | 365.6 | 354.5 | ||||||||||
| AVERAGE NUMBER OF SHARES OUTSTANDING—DILUTED (IN MILLIONS) | 370.0 | 361.7 | 366.8 | 355.8 | ||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||
| (Millions of Dollars) | 2026 | 2025 | 2026 | 2025 | ||||||||||
| NET INCOME | $308 | $246 | $1,232 | $1,038 | ||||||||||
| OTHER COMPREHENSIVE LOSS, NET OF TAXES | ||||||||||||||
| Pension and other postretirement benefit plan liability adjustments, net of taxes | — | — | (3) | (12) | ||||||||||
| TOTAL OTHER COMPREHENSIVE LOSS, NET OF TAXES | — | — | (3) | (12) | ||||||||||
| COMPREHENSIVE INCOME | $308 | $246 | $1,229 | $1,026 | ||||||||||
| For the Six Months Ended June 30, | ||||||||
| (Millions of Dollars) | 2026 | 2025 | ||||||
| OPERATING ACTIVITIES | ||||||||
| Net income | $1,232 | $1,038 | ||||||
| PRINCIPAL NON-CASH CHARGES (CREDITS) TO INCOME | ||||||||
| Depreciation and amortization | 1,150 | 1,140 | ||||||
| Deferred income taxes | 451 | 301 | ||||||
| Rate case amortization and accruals | (55) | 130 | ||||||
| Common equity component of allowance for funds used during construction | (47) | (36) | ||||||
| Gain on sale of equity interest in Mountain Valley Pipeline, LLC | (189) | — | ||||||
| Other non-cash items, net | (63) | (63) | ||||||
| CHANGES IN ASSETS AND LIABILITIES | ||||||||
| Accounts receivable – customers, net | 66 | 52 | ||||||
| Unbilled revenue and net unbilled revenue deferrals | (44) | 22 | ||||||
| Other receivables, net and other current assets | (96) | 166 | ||||||
| Taxes receivable | (53) | 144 | ||||||
| Prepayments | (59) | 71 | ||||||
| Accounts payable | (229) | 35 | ||||||
| Pensions and retiree benefits obligations, net | (210) | (284) | ||||||
| Pensions and retiree benefits contributions | (12) | (9) | ||||||
| Accrued taxes | (7) | (13) | ||||||
| Accrued interest | 6 | 12 | ||||||
| Superfund and other environmental costs, net | (3) | (14) | ||||||
| Distributions from equity investments | 26 | 33 | ||||||
| Deferred charges, noncurrent assets, leases, net and other regulatory assets | (137) | (178) | ||||||
| Deferred credits, noncurrent liabilities and other regulatory liabilities | 292 | 206 | ||||||
| Other current liabilities | (48) | 63 | ||||||
| NET CASH FLOWS FROM OPERATING ACTIVITIES | 1,971 | 2,816 | ||||||
| INVESTING ACTIVITIES | ||||||||
| Utility capital expenditures | (2,473) | (2,420) | ||||||
| Cost of removal less salvage | (208) | (251) | ||||||
| Non-utility capital expenditures | (1) | (1) | ||||||
| Proceeds from sale of equity interest in Mountain Valley Pipeline, LLC | 358 | — | ||||||
| Proceeds from sale of Broken Bow II, net of cash and cash equivalents sold | — | 45 | ||||||
| Other investing activities | (30) | (28) | ||||||
| NET CASH FLOWS USED IN INVESTING ACTIVITIES | (2,354) | (2,655) | ||||||
| FINANCING ACTIVITIES | ||||||||
| Net payment of short-term debt (Maturities 90 days or less) | (554) | (950) | ||||||
| Payment of short-term debt (Maturities greater than 90 days) | (300) | — | ||||||
| Borrowing under term loan | — | 200 | ||||||
| Repayment of term loan | (500) | — | ||||||
| Issuance of long-term debt | 1,300 | — | ||||||
| Debt issuance costs | (17) | (1) | ||||||
| Common stock dividends | (624) | (576) | ||||||
| Issuance of common shares - public offering | 884 | 1,308 | ||||||
| Issuance of common shares for stock plans | 34 | 32 | ||||||
| NET CASH FLOWS FROM FINANCING ACTIVITIES | 223 | 13 | ||||||
| CASH, TEMPORARY CASH INVESTMENTS, AND RESTRICTED CASH: | ||||||||
| NET CHANGE FOR THE PERIOD | (160) | 174 | ||||||
| BALANCE AT BEGINNING OF PERIOD | 1,630 | 1,333 | ||||||
| BALANCE AT END OF PERIOD | $1,470 | $1,507 | ||||||
| SUPPLEMENTAL DISCLOSURE OF CASH INFORMATION | ||||||||
| Cash paid (received) during the period for: | ||||||||
| Interest, net of capitalized interest | $587 | $560 | ||||||
| Income taxes | $19 | $(181) | ||||||
| SUPPLEMENTAL DISCLOSURE OF NON-CASH INFORMATION | ||||||||
| Capital expenditures in accounts payable | $848 | $342 | ||||||
| Issuance of common shares for dividend reinvestment | $24 | $25 | ||||||
| Equipment acquired but unpaid as of end of period | $— | $6 | ||||||
| (Millions of Dollars) | June 30, 2026 | December 31, 2025 | ||||||
| ASSETS | ||||||||
| CURRENT ASSETS | ||||||||
| Cash and temporary cash investments | $1,470 | $1,629 | ||||||
Accounts receivable – customers, net allowance for uncollectible accounts of $458 and $507 in 2026 and 2025, respectively | 2,559 | 2,583 | ||||||
Other receivables, net allowance for uncollectible accounts of $10 and $35 in 2026 and 2025, respectively | 176 | 232 | ||||||
| Accrued unbilled revenue | 668 | 821 | ||||||
Taxes receivable | 64 | 11 | ||||||
| Fuel oil, gas in storage, materials and supplies, at average cost | 534 | 530 | ||||||
| Prepayments | 440 | 381 | ||||||
| Regulatory assets | 271 | 103 | ||||||
| Revenue decoupling mechanism receivable | 242 | 213 | ||||||
| Fair value of derivative assets | 197 | 86 | ||||||
| Other current assets | 169 | 161 | ||||||
| TOTAL CURRENT ASSETS | 6,790 | 6,750 | ||||||
| INVESTMENTS | 1,101 | 1,213 | ||||||
| UTILITY PLANT, AT ORIGINAL COST | ||||||||
| Electric | 45,885 | 44,488 | ||||||
| Gas | 16,450 | 16,127 | ||||||
| Steam | 3,290 | 3,260 | ||||||
| General | 4,744 | 4,576 | ||||||
| TOTAL | 70,369 | 68,451 | ||||||
| Less: Accumulated depreciation | 16,933 | 16,463 | ||||||
| Net | 53,436 | 51,988 | ||||||
| Construction work in progress | 3,666 | 3,414 | ||||||
| NET UTILITY PLANT | 57,102 | 55,402 | ||||||
| NON-UTILITY PLANT | ||||||||
Non-utility property, net accumulated depreciation of $25 in 2026 and 2025 | 2 | 1 | ||||||
| NET PLANT | 57,104 | 55,403 | ||||||
| OTHER NONCURRENT ASSETS | ||||||||
| Goodwill | 406 | 406 | ||||||
| Regulatory assets | 5,681 | 5,599 | ||||||
| Pension and retiree benefits | 4,328 | 4,227 | ||||||
| Operating lease right-of-use asset | 468 | 489 | ||||||
| Fair value of derivative assets | 145 | 126 | ||||||
| Other deferred charges and noncurrent assets | 436 | 390 | ||||||
| TOTAL OTHER NONCURRENT ASSETS | 11,464 | 11,237 | ||||||
| TOTAL ASSETS | $76,459 | $74,603 | ||||||
| (Millions, except per share amounts) | June 30, 2026 | December 31, 2025 | ||||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||
| CURRENT LIABILITIES | ||||||||
| Long-term debt due within one year | $250 | $250 | ||||||
| Term loan | — | 500 | ||||||
| Notes payable | 721 | 1,575 | ||||||
| Accounts payable | 1,772 | 1,947 | ||||||
| Customer deposits | 548 | 498 | ||||||
| Accrued taxes | 97 | 104 | ||||||
| Accrued interest | 229 | 223 | ||||||
| Accrued wages | 150 | 140 | ||||||
| Fair value of derivative liabilities | 20 | 46 | ||||||
| Regulatory liabilities | 534 | 249 | ||||||
| System benefit charge | 391 | 415 | ||||||
| Operating lease liabilities | 125 | 123 | ||||||
| Customer credits | 277 | 253 | ||||||
| Other current liabilities | 240 | 291 | ||||||
| TOTAL CURRENT LIABILITIES | 5,354 | 6,614 | ||||||
| NONCURRENT LIABILITIES | ||||||||
| Provision for injuries and damages | 186 | 201 | ||||||
| Pensions and retiree benefits | 582 | 564 | ||||||
| Superfund and other environmental costs | 1,078 | 1,079 | ||||||
| Asset retirement obligations | 489 | 478 | ||||||
| Fair value of derivative liabilities | 3 | 8 | ||||||
| Deferred income taxes and unamortized investment tax credits | 10,127 | 9,619 | ||||||
| Operating lease liabilities | 381 | 377 | ||||||
| Regulatory liabilities | 5,124 | 5,374 | ||||||
| Other deferred credits and noncurrent liabilities | 573 | 548 | ||||||
| TOTAL NONCURRENT LIABILITIES | 18,543 | 18,248 | ||||||
| LONG-TERM DEBT | 26,843 | 25,551 | ||||||
| Commitments, Contingencies, and Guarantees (Note B, Note G, and Note H) | ||||||||
| SHAREHOLDERS' EQUITY | ||||||||
Common stock, $0.10 par value, 500 shares authorized, shares outstanding of 370 and 361, respectively | 40 | 39 | ||||||
Treasury stock, $0.10 par value, 34 shares | (2,017) | (2,017) | ||||||
| Additional paid-in-capital | 12,394 | 11,436 | ||||||
| Retained earnings | 15,441 | 14,857 | ||||||
| Accumulated other comprehensive income | 12 | 15 | ||||||
| Capital stock expense | (151) | (140) | ||||||
| TOTAL SHAREHOLDERS' EQUITY | 25,719 | 24,190 | ||||||
| TOTAL LIABILITIES AND EQUITY | $76,459 | $74,603 | ||||||
| (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, 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 | ||||||||||||||||||||
| BALANCE AS OF DECEMBER 31, 2025 | 361 | $39 | $11,436 | $14,857 | 34 | $(2,017) | $(140) | $15 | $24,190 | ||||||||||||||||||||
| Net income | 924 | 924 | |||||||||||||||||||||||||||
Common stock dividends ($0.89 per share) | (320) | (320) | |||||||||||||||||||||||||||
| Issuance of common shares - public offering | 7 | 776 | 776 | ||||||||||||||||||||||||||
| Issuance of common shares for stock plans | 1 | 35 | (9) | 27 | |||||||||||||||||||||||||
| Stock awards | 2 | 2 | |||||||||||||||||||||||||||
| Other comprehensive loss | (3) | (3) | |||||||||||||||||||||||||||
| BALANCE AS OF MARCH 31, 2026 | 368 | $40 | $12,249 | $15,461 | 34 | $(2,017) | $(149) | $12 | $25,596 | ||||||||||||||||||||
| Net income | 308 | 308 | |||||||||||||||||||||||||||
Common stock dividends ($0.89 per share) | (328) | (328) | |||||||||||||||||||||||||||
| Issuance of common shares - public offering | 1 | 108 | (1) | 107 | |||||||||||||||||||||||||
| Issuance of common shares for stock plans | 1 | 34 | (1) | 33 | |||||||||||||||||||||||||
| Stock awards | 3 | 3 | |||||||||||||||||||||||||||
| BALANCE AS OF JUNE 30, 2026 | 370 | $40 | $12,394 | $15,441 | 34 | $(2,017) | $(151) | $12 | $25,719 | ||||||||||||||||||||
| For the Three Months Ended June 30, | For the Six Months Ended June 30, | |||||||||||||
| (Millions of Dollars) | 2026 | 2025 | 2026 | 2025 | ||||||||||
| OPERATING REVENUES | ||||||||||||||
| Electric | $2,934 | $2,581 | $5,692 | $5,267 | ||||||||||
| Gas | 753 | 653 | 2,217 | 2,055 | ||||||||||
| Steam | 118 | 106 | 550 | 460 | ||||||||||
| TOTAL OPERATING REVENUES | 3,805 | 3,340 | 8,459 | 7,782 | ||||||||||
| OPERATING EXPENSES | ||||||||||||||
| Purchased power | 765 | 579 | 1,374 | 1,215 | ||||||||||
| Fuel | 56 | 27 | 245 | 154 | ||||||||||
| Gas purchased for resale | 135 | 148 | 496 | 453 | ||||||||||
| Other operations and maintenance | 814 | 826 | 1,658 | 1,680 | ||||||||||
| Depreciation and amortization | 544 | 544 | 1,082 | 1,077 | ||||||||||
| Taxes, other than income taxes | 952 | 869 | 1,958 | 1,789 | ||||||||||
| TOTAL OPERATING EXPENSES | 3,266 | 2,993 | 6,813 | 6,368 | ||||||||||
| OPERATING INCOME | 539 | 347 | 1,646 | 1,414 | ||||||||||
| OTHER INCOME (DEDUCTIONS) | ||||||||||||||
| Investment and other income | 140 | 202 | 275 | 393 | ||||||||||
| Allowance for equity funds used during construction | 21 | 17 | 40 | 33 | ||||||||||
| Other deductions | (12) | (10) | (23) | (19) | ||||||||||
| TOTAL OTHER INCOME | 149 | 209 | 292 | 407 | ||||||||||
| INCOME BEFORE INTEREST AND INCOME TAX EXPENSE | 688 | 556 | 1,938 | 1,821 | ||||||||||
| INTEREST EXPENSE (INCOME) | ||||||||||||||
| Interest on long-term debt | 295 | 277 | 583 | 554 | ||||||||||
| Other interest expense | 16 | 25 | 30 | 58 | ||||||||||
| Allowance for borrowed funds used during construction | (17) | (16) | (33) | (33) | ||||||||||
| NET INTEREST EXPENSE | 294 | 286 | 580 | 579 | ||||||||||
| INCOME BEFORE INCOME TAX EXPENSE | 394 | 270 | 1,358 | 1,242 | ||||||||||
| INCOME TAX EXPENSE | 98 | 48 | 329 | 275 | ||||||||||
| NET INCOME | $296 | $222 | $1,029 | $967 | ||||||||||
| For the Three Months Ended June 30, | For the Six Months Ended June 30, | |||||||||||||
| (Millions of Dollars) | 2026 | 2025 | 2026 | 2025 | ||||||||||
| NET INCOME | $296 | $222 | $1,029 | $967 | ||||||||||
| 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 | $296 | $222 | $1,029 | $959 | ||||||||||
| For the Six Months Ended June 30, | ||||||||
| (Millions of Dollars) | 2026 | 2025 | ||||||
| OPERATING ACTIVITIES | ||||||||
| Net income | $1,029 | $967 | ||||||
| PRINCIPAL NON-CASH CHARGES (CREDITS) TO INCOME | ||||||||
| Depreciation and amortization | 1,082 | 1,077 | ||||||
| Deferred income taxes | 472 | 214 | ||||||
| Rate case amortization and accruals | (54) | 131 | ||||||
| Common equity component of allowance for funds used during construction | (40) | (33) | ||||||
| Other non-cash items, net | (40) | (32) | ||||||
| CHANGES IN ASSETS AND LIABILITIES | ||||||||
| Accounts receivable – customers, net | 66 | 55 | ||||||
| Other receivables, net and other current assets | (101) | 87 | ||||||
| Unbilled revenue and net unbilled revenue deferrals | (51) | 12 | ||||||
| Accounts receivable from (to) affiliated companies | (195) | 293 | ||||||
| Prepayments | (64) | 75 | ||||||
| Accounts payable | (197) | 52 | ||||||
| Accounts payable from (to) affiliated companies | (1) | 10 | ||||||
| Pensions and retiree benefits obligations, net | (205) | (274) | ||||||
| Pensions and retiree benefits contributions | (12) | (9) | ||||||
| Superfund and other environmental costs, net | (5) | (14) | ||||||
| Accrued taxes | (3) | (13) | ||||||
| Accrued interest | 6 | 12 | ||||||
| Deferred charges, noncurrent assets, leases, net and other regulatory assets | (129) | (183) | ||||||
| Deferred credits, noncurrent liabilities and other regulatory liabilities | 247 | 206 | ||||||
| Other current liabilities | (39) | 67 | ||||||
| NET CASH FLOWS FROM OPERATING ACTIVITIES | 1,766 | 2,700 | ||||||
| INVESTING ACTIVITIES | ||||||||
| Utility capital expenditures | (2,246) | (2,233) | ||||||
| Cost of removal less salvage | (203) | (246) | ||||||
| NET CASH FLOWS USED IN INVESTING ACTIVITIES | (2,449) | (2,479) | ||||||
| FINANCING ACTIVITIES | ||||||||
| Net payment of short-term debt (Maturities 90 days or less) | (460) | (894) | ||||||
| Payment of short-term debt (Maturities greater than 90 days) | (300) | — | ||||||
| Borrowing under term loan | — | 200 | ||||||
| Repayment of term loan | (500) | — | ||||||
| Issuance of long-term debt | 1,300 | — | ||||||
| Debt issuance costs | (17) | (1) | ||||||
| Capital contribution by Con Edison | 1,114 | 1,250 | ||||||
| Dividend to Con Edison | (617) | (568) | ||||||
| NET CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES | 520 | (13) | ||||||
| CASH AND TEMPORARY CASH INVESTMENTS | ||||||||
| NET CHANGE FOR THE PERIOD | (163) | 208 | ||||||
| BALANCE AT BEGINNING OF PERIOD | 1,581 | 1,254 | ||||||
| BALANCE AT END OF PERIOD | $1,418 | $1,462 | ||||||
| SUPPLEMENTAL DISCLOSURE OF CASH INFORMATION | ||||||||
| Cash paid (received) during the period for: | ||||||||
| Interest, net of capitalized interest | $548 | $525 | ||||||
| Income taxes | $74 | $(199) | ||||||
| SUPPLEMENTAL DISCLOSURE OF NON-CASH INFORMATION | ||||||||
| Capital expenditures in accounts payable | $787 | $310 | ||||||
| Equipment acquired but unpaid as of end of period | $— | $6 | ||||||
| (Millions of Dollars) | June 30, 2026 | December 31, 2025 | ||||||
| ASSETS | ||||||||
| CURRENT ASSETS | ||||||||
| Cash and temporary cash investments | $1,418 | $1,581 | ||||||
Accounts receivable – customers, net allowance for uncollectible accounts of $450 and $500 in 2026 and 2025, respectively | 2,448 | 2,470 | ||||||
Other receivables, net allowance for uncollectible accounts of $8 and $27 in 2026 and 2025, respectively | 158 | 213 | ||||||
| Accrued unbilled revenue | 623 | 769 | ||||||
| Accounts receivable from affiliated companies | 265 | 70 | ||||||
| Fuel oil, gas in storage, materials and supplies, at average cost | 481 | 477 | ||||||
| Prepayments | 393 | 329 | ||||||
| Regulatory assets | 264 | 95 | ||||||
| Revenue decoupling mechanism receivable | 242 | 202 | ||||||
| Fair value of derivative assets | 178 | 74 | ||||||
| Other current assets | 163 | 153 | ||||||
| TOTAL CURRENT ASSETS | 6,633 | 6,433 | ||||||
| INVESTMENTS | 749 | 725 | ||||||
| UTILITY PLANT, AT ORIGINAL COST | ||||||||
| Electric | 43,158 | 41,853 | ||||||
| Gas | 15,120 | 14,851 | ||||||
| Steam | 3,290 | 3,260 | ||||||
| General | 4,383 | 4,226 | ||||||
| TOTAL | 65,951 | 64,190 | ||||||
| Less: Accumulated depreciation | 15,747 | 15,321 | ||||||
| Net | 50,204 | 48,869 | ||||||
| Construction work in progress | 3,203 | 2,991 | ||||||
| NET UTILITY PLANT | 53,407 | 51,860 | ||||||
| NON-UTILITY PROPERTY | ||||||||
Non-utility property, net accumulated depreciation of $25 in 2026 and 2025 | 2 | 1 | ||||||
| NET PLANT | 53,409 | 51,861 | ||||||
| OTHER NONCURRENT ASSETS | ||||||||
| Regulatory assets | 5,294 | 5,235 | ||||||
| Operating lease right-of-use asset | 467 | 488 | ||||||
| Pension and retiree benefits | 4,206 | 4,106 | ||||||
| Fair value of derivative assets | 137 | 117 | ||||||
| Other deferred charges and noncurrent assets | 392 | 351 | ||||||
| TOTAL OTHER NONCURRENT ASSETS | 10,496 | 10,297 | ||||||
| TOTAL ASSETS | $71,287 | $69,316 | ||||||
| (Millions, except per share amounts) | June 30, 2026 | December 31, 2025 | ||||||
| LIABILITIES AND SHAREHOLDER’S EQUITY | ||||||||
| CURRENT LIABILITIES | ||||||||
| Long-term debt due within one year | $250 | $250 | ||||||
| Term loan | — | 500 | ||||||
| Notes payable | 480 | 1,240 | ||||||
| Accounts payable | 1,631 | 1,752 | ||||||
| Accounts payable to affiliated companies | 34 | 35 | ||||||
| Customer deposits | 529 | 481 | ||||||
| Accrued taxes | 92 | 95 | ||||||
| Accrued taxes to affiliated companies | 2 | 2 | ||||||
| Accrued interest | 212 | 206 | ||||||
| Accrued wages | 137 | 128 | ||||||
| Fair value of derivative liabilities | 14 | 41 | ||||||
| Regulatory liabilities | 443 | 205 | ||||||
| System benefit charge | 360 | 382 | ||||||
| Operating lease liabilities | 124 | 122 | ||||||
| Customer credits | 278 | 253 | ||||||
| Other current liabilities | 209 | 252 | ||||||
| TOTAL CURRENT LIABILITIES | 4,795 | 5,944 | ||||||
| NONCURRENT LIABILITIES | ||||||||
| Provision for injuries and damages | 182 | 197 | ||||||
| Pensions and retiree benefits | 541 | 522 | ||||||
| Superfund and other environmental costs | 980 | 980 | ||||||
| Asset retirement obligations | 486 | 476 | ||||||
| Fair value of derivative liabilities | 3 | 6 | ||||||
| Deferred income taxes and unamortized investment tax credits | 9,934 | 9,400 | ||||||
| Operating lease liabilities | 381 | 377 | ||||||
| Regulatory liabilities | 4,607 | 4,879 | ||||||
| Other deferred credits and noncurrent liabilities | 460 | 438 | ||||||
| TOTAL NONCURRENT LIABILITIES | 17,574 | 17,275 | ||||||
| LONG-TERM DEBT | 25,351 | 24,060 | ||||||
COMMITMENTS AND CONTINGENCIES (Note B, Note G and Note H) | ||||||||
| SHAREHOLDER’S EQUITY | ||||||||
Common stock, $2.50 par value, 340 shares authorized, shares outstanding of 235 | 589 | 589 | ||||||
| Repurchased Con Edison Stock | (962) | (962) | ||||||
| Additional paid-in-capital | 11,730 | 10,604 | ||||||
| Retained earnings | 12,299 | 11,887 | ||||||
| Accumulated other comprehensive loss | (3) | (3) | ||||||
| Capital stock expense | (86) | (78) | ||||||
| TOTAL SHAREHOLDER'S EQUITY | 23,567 | 22,037 | ||||||
| TOTAL LIABILITIES AND SHAREHOLDER’S EQUITY | $71,287 | $69,316 | ||||||
| Common Stock | Additional Paid-In Capital | Retained Earnings | Repurchased Con Edison Stock | Capital Stock Expense | Accumulated Other Comprehensive Income (Loss) | Total | ||||||||||||||||||||
| (In Millions) | Shares | Amount | ||||||||||||||||||||||||
| 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 | ||||||||||||||||||
| BALANCE AS OF DECEMBER 31, 2025 | 235 | $589 | $10,604 | $11,887 | $(962) | $(78) | $(3) | $22,037 | ||||||||||||||||||
| Net income | 733 | 733 | ||||||||||||||||||||||||
| Common stock dividend to Con Edison | (309) | (309) | ||||||||||||||||||||||||
| Capital contribution by Con Edison | 988 | (7) | 981 | |||||||||||||||||||||||
| Stock awards | 2 | 2 | ||||||||||||||||||||||||
| BALANCE AS OF MARCH 31, 2026 | 235 | $589 | $11,594 | $12,311 | $(962) | $(85) | $(3) | $23,444 | ||||||||||||||||||
| Net income | 296 | 296 | ||||||||||||||||||||||||
| Common stock dividend to Con Edison | (308) | (308) | ||||||||||||||||||||||||
| Capital contribution by Con Edison | 134 | (1) | 133 | |||||||||||||||||||||||
| Stock awards | 2 | 2 | ||||||||||||||||||||||||
| BALANCE AS OF JUNE 30, 2026 | 235 | $589 | $11,730 | $12,299 | $(962) | $(86) | $(3) | $23,567 | ||||||||||||||||||
| For the Three Months Ended June 30, | For the Six Months Ended June 30, | |||||||||||||
| (Millions of Dollars, except per share amounts/Shares in Millions) | 2026 | 2025 | 2026 | 2025 | ||||||||||
| Net income for common stock | $308 | $246 | $1,232 | $1,038 | ||||||||||
| Weighted average common shares outstanding – basic | 368.8 | 360.4 | 365.6 | 354.5 | ||||||||||
| 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 | 370.0 | 361.7 | 366.8 | 355.8 | ||||||||||
| Net Income per common share – basic | $0.83 | $0.68 | $3.37 | $2.93 | ||||||||||
| Net Income per common share – diluted | $0.83 | $0.68 | $3.36 | $2.92 | ||||||||||
| RECO | ||||||||
| Effective period | July 2026 | |||||||
| Base rate changes | $15.25 million | |||||||
| Amortization to income of net regulatory (assets) and liabilities | $8.7 million net assets over years including $8.1 million of deferred storm costs. $6.2 million over years for deferred costs associated with the electric vehicle program | |||||||
| Recoverable energy costs | Current rate recovery of purchased power costs. | |||||||
| Cost reconciliations | Reconciliation of uncollectible accounts, Demand Side Management and Clean Energy Program, Storm Costs Reconciliation (a) | |||||||
| Average rate base | $330.3 million | |||||||
| Weighted average cost of capital (after-tax) | 7.14 percent | |||||||
| Authorized return on common equity | 9.6 percent | |||||||
| Cost of long-term debt | 4.82 percent | |||||||
| Common equity ratio | 48.51 percent | |||||||
| Con Edison | CECONY | ||||||||||||||||
| (Millions of Dollars) | 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Regulatory assets | |||||||||||||||||
| Energy efficiency and other clean energy programs (a) | $2,095 | $1,994 | $1,982 | $1,893 | |||||||||||||
| Environmental investigation and remediation costs | 1,079 | 1,079 | 988 | 987 | |||||||||||||
| Customer account deferrals (b) | 997 | 1,089 | 993 | 1,084 | |||||||||||||
| Revenue taxes | 680 | 638 | 650 | 611 | |||||||||||||
| Legacy meters | 372 | 382 | 360 | 370 | |||||||||||||
| Property tax reconciliation (c) | 121 | 101 | 111 | 97 | |||||||||||||
| Deferred storm costs (d) | 78 | 85 | 12 | 1 | |||||||||||||
| Deferred derivative losses-long-term | 24 | 18 | 23 | 15 | |||||||||||||
| Pension and other postretirement employee benefits deferrals | 18 | — | — | — | |||||||||||||
| Unrecognized pension and other postretirement costs (f) | 7 | 4 | — | — | |||||||||||||
| Other | 210 | 209 | 175 | 177 | |||||||||||||
| Regulatory assets - noncurrent | 5,681 | 5,599 | 5,294 | 5,235 | |||||||||||||
| Recoverable energy cost | 184 | 6 | 184 | 5 | |||||||||||||
| Deferred derivative losses - short term | 87 | 97 | 80 | 90 | |||||||||||||
| Regulatory assets - current | 271 | 103 | 264 | 95 | |||||||||||||
| Total Regulatory Assets | $5,952 | $5,702 | $5,558 | $5,330 | |||||||||||||
| Regulatory liabilities | |||||||||||||||||
| Allowance for cost of removal less salvage (e) | $1,747 | $1,686 | $1,523 | $1,468 | |||||||||||||
| Future income tax* | 1,093 | 1,120 | 982 | 1,015 | |||||||||||||
| Unrecognized other postretirement benefit cost (f) | 781 | 873 | 716 | 806 | |||||||||||||
| Pension and other postretirement employee benefit deferrals | 252 | 356 | 201 | 313 | |||||||||||||
| Net unbilled revenue deferrals | 232 | 397 | 232 | 397 | |||||||||||||
| Late payment charge deferral | 100 | 192 | 100 | 191 | |||||||||||||
| Deferred derivative gains – long term | 142 | 119 | 132 | 109 | |||||||||||||
| System benefit charge carrying charge | 103 | 108 | 95 | 100 | |||||||||||||
| Storm reserve passback | 64 | 80 | 64 | 80 | |||||||||||||
| Settlement of prudence proceeding (g) | 7 | 8 | 7 | 8 | |||||||||||||
| Other | 603 | 435 | 555 | 392 | |||||||||||||
| Regulatory liabilities - noncurrent | 5,124 | 5,374 | 4,607 | 4,879 | |||||||||||||
| Deferred derivative gains | 296 | 165 | 275 | 152 | |||||||||||||
| Revenue decoupling mechanism liabilities | 189 | 13 | 163 | — | |||||||||||||
| Refundable energy costs current | 49 | 71 | 5 | 53 | |||||||||||||
| Regulatory liabilities - current | 534 | 249 | 443 | 205 | |||||||||||||
| Total Regulatory Liabilities | $5,658 | $5,623 | $5,050 | $5,084 | |||||||||||||
| Con Edison | CECONY | |||||||||||||
| (Millions of Dollars) | 2026 | 2025 | 2026 | 2025 | ||||||||||
| Environmental investigation and remediation costs | $1,071 | $1,072 | $980 | $980 | ||||||||||
| Revenue taxes | 651 | 621 | 623 | 595 | ||||||||||
| Deferral for uncollectible accounts receivable | 381 | 427 | 378 | 426 | ||||||||||
| Deferred derivative losses - short-term | 87 | 97 | 80 | 90 | ||||||||||
| Deferred derivative losses - long-term | 24 | 18 | 23 | 15 | ||||||||||
| Unrecognized pension and other postretirement costs | 7 | 4 | — | — | ||||||||||
| Other | 69 | 42 | 56 | 31 | ||||||||||
| Total | $2,290 | $2,281 | $2,140 | $2,137 | ||||||||||
| Tranche | Shares Priced | Initial Forward Price | ||||||
| 1 | 1,074,178 (a) | $105.7586 | ||||||
| 2 | 889,415 | $104.6730 | ||||||
| (Millions of Dollars) | 2026 | 2025 | ||||||||||||||||||||||||
| Long-Term Debt (including current portion) (a) | Carrying Amount | Fair Value | Carrying Amount | Fair Value | ||||||||||||||||||||||
| Con Edison | $27,093 | $24,595 | $25,801 | $23,633 | ||||||||||||||||||||||
| CECONY | $25,601 | $23,273 | $24,310 | $22,291 | ||||||||||||||||||||||
| For the Three Months Ended June 30, | ||||||||||||||
| Con Edison | CECONY | |||||||||||||
| (Millions of Dollars) | 2026 | 2025 | 2026 | 2025 | ||||||||||
| Service cost – including administrative expenses | $45 | $42 | $43 | $40 | ||||||||||
| Interest cost on projected benefit obligation | 167 | 170 | 157 | 159 | ||||||||||
| Expected return on plan assets | (261) | (279) | (251) | (267) | ||||||||||
| Recognition of net actuarial gain | (22) | (67) | (21) | (63) | ||||||||||
| Recognition of prior service credit | (5) | (5) | (5) | (5) | ||||||||||
| TOTAL PERIODIC BENEFIT CREDIT | $(76) | $(139) | $(77) | $(136) | ||||||||||
| Cost capitalized | (28) | (24) | (26) | (22) | ||||||||||
| Reconciliation to rate level | (38) | (13) | (38) | (14) | ||||||||||
| Total credit recognized | $(142) | $(176) | $(141) | $(172) | ||||||||||
| For the Six Months Ended June 30, | ||||||||||||||
| Con Edison | CECONY | |||||||||||||
| (Millions of Dollars) | 2026 | 2025 | 2026 | 2025 | ||||||||||
| Service cost – including administrative expenses | $90 | $84 | $86 | $79 | ||||||||||
| Interest cost on projected benefit obligation | 334 | 338 | 315 | 318 | ||||||||||
| Expected return on plan assets | (523) | (558) | (502) | (533) | ||||||||||
| Recognition of net actuarial gain | (44) | (133) | (43) | (126) | ||||||||||
| Recognition of prior service credit | (9) | (9) | (10) | (10) | ||||||||||
| TOTAL PERIODIC BENEFIT CREDIT | $(152) | $(278) | $(154) | $(272) | ||||||||||
| Cost capitalized | (54) | (45) | (51) | (42) | ||||||||||
| Reconciliation to rate level | (79) | (29) | (78) | (30) | ||||||||||
| Total credit recognized | $(285) | $(352) | $(283) | $(344) | ||||||||||
| For the Three Months Ended June 30, | ||||||||||||||
| Con Edison | CECONY | |||||||||||||
| (Millions of Dollars) | 2026 | 2025 | 2026 | 2025 | ||||||||||
| Service cost - including administrative expenses | $3 | $3 | $2 | $2 | ||||||||||
| Interest cost on projected other postretirement benefit obligation | 12 | 12 | 10 | 10 | ||||||||||
| Expected return on plan assets | (16) | (17) | (13) | (13) | ||||||||||
| Recognition of net actuarial gain | (2) | (7) | — | (4) | ||||||||||
| Recognition of prior service credit | (1) | — | — | — | ||||||||||
| TOTAL PERIODIC OTHER POSTRETIREMENT CREDIT | $(4) | $(9) | $(1) | $(5) | ||||||||||
| Cost capitalized | (2) | (2) | (1) | (1) | ||||||||||
| Reconciliation to rate level | 3 | 4 | 2 | 2 | ||||||||||
| Total credit recognized | $(3) | $(7) | $— | $(4) | ||||||||||
| For the Six Months Ended June 30, | ||||||||||||||
| Con Edison | CECONY | |||||||||||||
| (Millions of Dollars) | 2026 | 2025 | 2026 | 2025 | ||||||||||
| Service cost - including administrative expenses | $6 | $6 | $4 | $5 | ||||||||||
| Interest cost on projected other postretirement benefit obligation | 23 | 24 | 20 | 21 | ||||||||||
| Expected return on plan assets | (32) | (34) | (25) | (27) | ||||||||||
| Recognition of net actuarial gain | (4) | (13) | — | (9) | ||||||||||
| Recognition of prior service credit | (1) | (1) | — | — | ||||||||||
| TOTAL PERIODIC OTHER POSTRETIREMENT CREDIT | $(8) | $(18) | $(1) | $(10) | ||||||||||
| Cost capitalized | (3) | (3) | (2) | (2) | ||||||||||
| Reconciliation to rate level | 5 | 6 | 3 | 4 | ||||||||||
| Total credit recognized | $(6) | $(15) | $— | $(8) | ||||||||||
| Con Edison | CECONY | |||||||||||||
| (Millions of Dollars) | 2026 | 2025 | 2026 | 2025 | ||||||||||
| Accrued Liabilities: | ||||||||||||||
| Manufactured gas plant sites | $976 | $980 | $879 | $882 | ||||||||||
| Other Superfund Sites | 102 | 99 | 101 | 98 | ||||||||||
| Total | $1,078 | $1,079 | $980 | $980 | ||||||||||
| Regulatory assets | $1,079 | $1,079 | $988 | $987 | ||||||||||
| For the Three Months Ended June 30, | ||||||||||||||
| Con Edison | CECONY | |||||||||||||
| (Millions of Dollars) | 2026 | 2025 | 2026 | 2025 | ||||||||||
| $3 | $5 | $3 | $4 | |||||||||||
| For the Six Months Ended June 30, | ||||||||||||||
| Con Edison | CECONY | |||||||||||||
| (Millions of Dollars) | 2026 | 2025 | 2026 | 2025 | ||||||||||
| $6 | $14 | $6 | $13 | |||||||||||
| Con Edison | CECONY | |||||||||||||
| (Millions of Dollars) | 2026 | 2025 | 2026 | 2025 | ||||||||||
| Accrued liability – asbestos suits | $11 | $11 | $10 | $10 | ||||||||||
| Regulatory assets – asbestos suits | 11 | 11 | 10 | 10 | ||||||||||
| Accrued liability – workers’ compensation | $50 | $51 | $48 | $49 | ||||||||||
| Regulatory liabilities – workers’ compensation | 23 | 21 | 23 | 21 | ||||||||||
| For the Three Months Ended June 30, | ||||||||||||||
| Con Edison | CECONY | |||||||||||||
| (Millions of Dollars) | 2026 | 2025 | 2026 | 2025 | ||||||||||
| Operating lease cost | $18 | $17 | $18 | $17 | ||||||||||
| Operating lease cash flows | $5 | $4 | $5 | $4 | ||||||||||
| For the Six Months Ended June 30, | ||||||||||||||
| Con Edison | CECONY | |||||||||||||
| (Millions of Dollars) | 2026 | 2025 | 2026 | 2025 | ||||||||||
| Operating lease cost | $36 | $34 | $36 | $34 | ||||||||||
| Operating lease cash flows | $11 | $9 | $10 | $8 | ||||||||||
| For the Three Months Ended June 30, | ||||||||||||||||||||||||||
| Con Edison | CECONY | |||||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||||||||||||
| (Millions of Dollars) (% of Pre-tax income) | $ | % | $ | % | $ | % | $ | % | ||||||||||||||||||
| $86 | 21.0 | % | $62 | 21.0 | % | $83 | 21.0 | % | $57 | 21.0 | % | |||||||||||||||
| State Income Taxes: | ||||||||||||||||||||||||||
| State income taxes, net of federal income taxes (b) | 21 | 5.3 | 13 | 4.6 | 20 | 5.1 | 14 | 5.1 | ||||||||||||||||||
| MTA Surcharge (Surcredit) amortization, net of federal income taxes | 1 | 0.4 | (7) | (2.5) | 1 | 0.4 | (7) | (2.6) | ||||||||||||||||||
| Tax Credits | (3) | (0.8) | (5) | (1.8) | (2) | (0.6) | (3) | (1.2) | ||||||||||||||||||
| Nontaxable or Nondeductible items | (1) | (0.1) | (2) | (0.8) | — | — | (3) | (0.9) | ||||||||||||||||||
| Changes in unrecognized tax benefits | — | — | 1 | 0.3 | — | — | 1 | 0.3 | ||||||||||||||||||
| Other Adjustments: | ||||||||||||||||||||||||||
| Amortization of excess deferred federal income taxes | (16) | (4.0) | (11) | (3.7) | (15) | (3.7) | (9) | (3.3) | ||||||||||||||||||
| Allowance for uncollectible accounts, net of regulatory recovery | (1) | (0.3) | (9) | (2.9) | (1) | (0.3) | (9) | (3.3) | ||||||||||||||||||
| Cost of removal | 12 | 2.9 | 9 | 3.0 | 11 | 2.7 | 8 | 3.0 | ||||||||||||||||||
| Other | 1 | 0.3 | (1) | (0.3) | 1 | 0.3 | (1) | (0.3) | ||||||||||||||||||
| Effective tax rate | $100 | 24.7 | % | $50 | 16.9 | % | $98 | 24.9 | % | $48 | 17.8 | % | ||||||||||||||
| For the Six Months Ended June 30, | ||||||||||||||||||||||||||
| Con Edison | CECONY | |||||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||||||||||||
| (Millions of Dollars) (% of Pre-tax income) | $ | % | $ | % | $ | % | $ | % | ||||||||||||||||||
| $343 | 21.0 | % | $279 | 21.0 | % | $285 | 21.0 | % | $261 | 21.0 | % | |||||||||||||||
| State Income Taxes: | ||||||||||||||||||||||||||
| State income taxes, net of federal income taxes (b) | 86 | 5.2 | 69 | 5.2 | 71 | 5.2 | 65 | 5.2 | ||||||||||||||||||
| MTA Surcredit amortization, net of federal income taxes | (9) | (0.5) | (21) | (1.6) | (8) | (0.6) | (20) | (1.6) | ||||||||||||||||||
| Tax Credits | (7) | (0.4) | (9) | (0.6) | (5) | (0.4) | (7) | (0.5) | ||||||||||||||||||
| Nontaxable or Nondeductible items | (1) | (0.1) | (4) | (0.3) | — | — | (4) | (0.3) | ||||||||||||||||||
| Changes in unrecognized tax benefits | 1 | 0.1 | 2 | 0.1 | 1 | 0.1 | 2 | 0.1 | ||||||||||||||||||
| Other Adjustments: | ||||||||||||||||||||||||||
| Amortization of excess deferred federal income taxes | (33) | (2.0) | (22) | (1.7) | (29) | (2.1) | (18) | (1.5) | ||||||||||||||||||
| Allowance for uncollectible accounts, net of regulatory recovery | (7) | (0.4) | (21) | (1.6) | (7) | (0.5) | (22) | (1.7) | ||||||||||||||||||
| Cost of removal | 25 | 1.5 | 19 | 1.5 | 23 | 1.7 | 18 | 1.5 | ||||||||||||||||||
| Other | 5 | 0.3 | — | — | (2) | (0.2) | — | — | ||||||||||||||||||
| Effective tax rate | $403 | 24.7 | % | $292 | 22.0 | % | $329 | 24.2 | % | $275 | 22.2 | % | ||||||||||||||
| For the Three Months Ended June 30, 2026 | For the Three Months Ended June 30, 2025 | |||||||||||||||||||||||||
| (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 | $3,053 | $(119) | $2,934 | $2,565 | $16 | $2,581 | ||||||||||||||||||||
| Gas | 731 | 22 | 753 | 696 | (43) | 653 | ||||||||||||||||||||
| Steam | 120 | (2) | 118 | 107 | (1) | 106 | ||||||||||||||||||||
| Total CECONY | $3,904 | $(99) | $3,805 | $3,368 | $(28) | $3,340 | ||||||||||||||||||||
| O&R | ||||||||||||||||||||||||||
| Electric | $204 | $1 | $205 | $196 | $— | $196 | ||||||||||||||||||||
| Gas | 58 | — | 58 | 64 | (6) | 58 | ||||||||||||||||||||
| Total O&R | $262 | $1 | $263 | $260 | $(6) | $254 | ||||||||||||||||||||
| Con Edison Transmission | 1 | — | 1 | 1 | — | 1 | ||||||||||||||||||||
| Other | — | — | — | — | — | — | ||||||||||||||||||||
| Total Con Edison | $4,167 | $(98) | $4,069 | $3,629 | $(34) | $3,595 | ||||||||||||||||||||
| For the Six Months Ended June 30, 2026 | For the Six Months Ended June 30, 2025 | |||||||||||||||||||||||||
| (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 | $5,923 | $(231) | $5,692 | $5,333 | $(66) | $5,267 | ||||||||||||||||||||
| Gas | 2,184 | 33 | 2,217 | 2,095 | (40) | 2,055 | ||||||||||||||||||||
| Steam | 555 | (5) | 550 | 463 | (3) | 460 | ||||||||||||||||||||
| Total CECONY | $8,662 | $(203) | $8,459 | $7,891 | $(109) | $7,782 | ||||||||||||||||||||
| O&R | ||||||||||||||||||||||||||
| Electric | $493 | $(6) | $487 | $414 | $(3) | $411 | ||||||||||||||||||||
| Gas | 242 | (25) | 217 | 210 | (11) | 199 | ||||||||||||||||||||
| Total O&R | $735 | $(31) | $704 | $624 | $(14) | $610 | ||||||||||||||||||||
| Con Edison Transmission | 2 | — | 2 | 2 | — | 2 | ||||||||||||||||||||
| Other (b) | — | (1) | (1) | — | (1) | (1) | ||||||||||||||||||||
| Total Con Edison | $9,399 | $(235) | $9,164 | $8,517 | $(124) | $8,393 | ||||||||||||||||||||
| For the Three Months Ended June 30, | ||||||||||||||||||||||||||
| Con Edison | CECONY | |||||||||||||||||||||||||
| Accounts receivable - customers | Other receivables | Accounts receivable - customers | Other receivables | |||||||||||||||||||||||
| (Millions of Dollars) | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||
| Allowance for credit losses | ||||||||||||||||||||||||||
| Beginning Balance at April 1, | $468 | $616 | $10 | $28 | $460 | $605 | $8 | $25 | ||||||||||||||||||
| Recoveries | 18 | 18 | — | — | 18 | 18 | — | — | ||||||||||||||||||
| Write-offs | (84) | (120) | — | — | (82) | (118) | — | — | ||||||||||||||||||
| Reserve adjustments | 56 | 101 | — | 14 | 54 | 100 | — | 10 | ||||||||||||||||||
| Ending Balance June 30, | $458 | $615 | $10 | $42 | $450 | $605 | $8 | $35 | ||||||||||||||||||
| For the Six Months Ended June 30, | ||||||||||||||||||||||||||
| Con Edison | CECONY | |||||||||||||||||||||||||
| Accounts receivable - customers | Other receivables | Accounts receivable - customers | Other receivables | |||||||||||||||||||||||
| (Millions of Dollars) | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||
| Allowance for credit losses | ||||||||||||||||||||||||||
| Beginning Balance at January 1, | $507 | $620 | $35 | $41 | $500 | $605 | $27 | $38 | ||||||||||||||||||
| Recoveries | 38 | 23 | — | — | 37 | 22 | — | — | ||||||||||||||||||
| Write-offs | (195) | (218) | — | (4) | (192) | (213) | — | (4) | ||||||||||||||||||
| Reserve adjustments | 108 | 190 | (25) | 5 | 105 | 191 | (19) | 1 | ||||||||||||||||||
| Ending Balance June 30, | $458 | $615 | $10 | $42 | $450 | $605 | $8 | $35 | ||||||||||||||||||
| As of and for the Three Months Ended June 30, 2026 | ||||||||||||||||||||||||||||||||||||||
| 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 | $2,934 | $5 | $610 | $392 | $1,507 | $425 | $108 | $218 | $(13) | $87 | $50,354 | $1,019 | ||||||||||||||||||||||||||
| Gas | 753 | 2 | 142 | 122 | 317 | 172 | 35 | 78 | (4) | 30 | 18,452 | 302 | ||||||||||||||||||||||||||
| Steam | 118 | 21 | 62 | 30 | 84 | (58) | 6 | 15 | — | (19) | 2,481 | 26 | ||||||||||||||||||||||||||
| Consolidation adjustments | — | (28) | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
| Total CECONY | $3,805 | $— | $814 | $544 | $1,908 | $539 | $149 | $311 | $(17) | $98 | $71,287 | $1,347 | ||||||||||||||||||||||||||
| O&R | ||||||||||||||||||||||||||||||||||||||
| Electric | 205 | — | 75 | 23 | 87 | 20 | 8 | 13 | (2) | 3 | 3,056 | 95 | ||||||||||||||||||||||||||
| Gas | 58 | — | 21 | 11 | 30 | (4) | 2 | 7 | — | (3) | 1,541 | 42 | ||||||||||||||||||||||||||
| Total O&R | $263 | $— | $96 | $34 | $117 | $16 | $10 | $20 | $(2) | $— | $4,597 | $137 | ||||||||||||||||||||||||||
| Con Edison Transmission | 1 | — | 2 | — | — | (1) | 11 | — | — | 3 | 381 | 15 | ||||||||||||||||||||||||||
| Other (a) | — | — | 1 | — | 1 | (2) | — | 2 | — | (1) | 194 | — | ||||||||||||||||||||||||||
| Total Con Edison | $4,069 | $— | $913 | $578 | $2,026 | $552 | $170 | $333 | $(19) | $100 | $76,459 | $1,499 | ||||||||||||||||||||||||||
| As of and for the Three Months Ended June 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 | $2,581 | $5 | $636 | $396 | $1,237 | $312 | $159 | $212 | $(11) | $51 | $46,885 | $814 | ||||||||||||||||||||||||||
| Gas | 653 | 2 | 134 | 119 | 314 | 86 | 37 | 75 | (5) | 11 | 16,749 | 314 | ||||||||||||||||||||||||||
| Steam | 106 | 19 | 56 | 29 | 72 | (51) | 13 | 15 | — | (14) | 2,931 | 26 | ||||||||||||||||||||||||||
| Consolidation adjustments | — | (26) | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
| Total CECONY | $3,340 | $— | $826 | $544 | $1,623 | $347 | $209 | $302 | $(16) | $48 | $66,565 | $1,154 | ||||||||||||||||||||||||||
| O&R | ||||||||||||||||||||||||||||||||||||||
| Electric | 196 | — | 73 | 22 | 85 | 16 | 8 | 11 | (2) | 3 | 2,719 | 64 | ||||||||||||||||||||||||||
| Gas | 58 | — | 20 | 9 | 32 | (3) | 3 | 6 | — | (2) | 1,405 | 32 | ||||||||||||||||||||||||||
| Total O&R | $254 | $— | $93 | $31 | $117 | $13 | $11 | $17 | $(2) | $1 | $4,124 | $96 | ||||||||||||||||||||||||||
| Con Edison Transmission | 1 | — | 4 | — | — | (3) | 17 | — | — | 4 | 490 | 15 | ||||||||||||||||||||||||||
| Other (a) | — | — | — | 1 | 1 | (2) | 4 | (1) | — | (3) | 322 | — | ||||||||||||||||||||||||||
| Total Con Edison | $3,595 | $— | $923 | $576 | $1,741 | $355 | $241 | $318 | $(18) | $50 | $71,501 | $1,265 | ||||||||||||||||||||||||||
| As of and for the Six Months Ended June 30, 2026 | ||||||||||||||||||||||||||||||||||||||
| 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 | $5,692 | $10 | $1,259 | $779 | $2,894 | $760 | $213 | $427 | $(25) | $147 | $50,354 | $1,842 | ||||||||||||||||||||||||||
| Gas | 2,217 | 5 | 279 | 244 | 901 | 793 | 67 | 156 | (8) | 169 | 18,452 | 521 | ||||||||||||||||||||||||||
| Steam | 550 | 40 | 120 | 59 | 278 | 93 | 12 | 30 | — | 13 | 2,481 | 50 | ||||||||||||||||||||||||||
| Consolidation adjustments | — | (55) | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
| Total CECONY | $8,459 | $— | $1,658 | $1,082 | $4,073 | $1,646 | $292 | $613 | $(33) | $329 | $71,287 | $2,413 | ||||||||||||||||||||||||||
| O&R | ||||||||||||||||||||||||||||||||||||||
| Electric | 487 | — | 146 | 45 | 251 | 45 | 15 | 26 | (3) | 8 | 3,056 | 148 | ||||||||||||||||||||||||||
| Gas | 217 | — | 43 | 22 | 105 | 47 | 4 | 14 | (1) | 8 | 1,541 | 63 | ||||||||||||||||||||||||||
| Total O&R | $704 | $— | $189 | $67 | $356 | $92 | $19 | $40 | $(4) | $16 | $4,597 | $211 | ||||||||||||||||||||||||||
| Con Edison Transmission | 2 | — | 5 | — | — | (3) | 26 | — | — | 62 | 381 | 31 | ||||||||||||||||||||||||||
| Other (a) | (1) | — | (1) | 1 | 4 | (5) | 1 | 6 | — | (4) | 194 | — | ||||||||||||||||||||||||||
| Total Con Edison | $9,164 | $— | $1,851 | $1,150 | $4,433 | $1,730 | $338 | $659 | $(37) | $403 | $76,459 | $2,655 | ||||||||||||||||||||||||||
| As of and for the Six Months Ended June 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 | $5,267 | $10 | $1,295 | $784 | $2,586 | $602 | $313 | $431 | $(23) | $88 | $46,885 | $1,505 | ||||||||||||||||||||||||||
| Gas | 2,055 | 5 | 273 | 237 | 819 | 726 | 69 | 152 | (9) | 169 | 16,749 | 586 | ||||||||||||||||||||||||||
| Steam | 460 | 38 | 112 | 56 | 206 | 86 | 25 | 29 | (1) | 18 | 2,931 | 55 | ||||||||||||||||||||||||||
| Consolidation adjustments | — | (53) | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
| Total CECONY | $7,782 | $— | $1,680 | $1,077 | $3,611 | $1,414 | $407 | $612 | $(33) | $275 | $66,565 | $2,146 | ||||||||||||||||||||||||||
| O&R | ||||||||||||||||||||||||||||||||||||||
| Electric | 411 | — | 148 | 43 | 187 | 33 | 17 | 22 | (3) | 6 | 2,719 | 122 | ||||||||||||||||||||||||||
| Gas | 199 | — | 40 | 19 | 98 | 42 | 6 | 12 | — | 8 | 1,405 | 59 | ||||||||||||||||||||||||||
| Total O&R | $610 | $— | $188 | $62 | $285 | $75 | $23 | $34 | $(3) | $14 | $4,124 | $181 | ||||||||||||||||||||||||||
| Con Edison Transmission | 2 | — | 7 | — | — | (5) | 33 | — | — | 8 | 490 | 29 | ||||||||||||||||||||||||||
| Other (a) | (1) | — | — | 1 | 2 | (4) | (1) | 2 | — | (5) | 322 | — | ||||||||||||||||||||||||||
| Total Con Edison | $8,393 | $— | $1,875 | $1,140 | $3,898 | $1,480 | $462 | $648 | $(36) | $292 | $71,501 | $2,356 | ||||||||||||||||||||||||||
| (Millions of Dollars) | 2026 | 2025 | ||||||||||||||||||||||||
| 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 | $310 | $(116) | $194 | (b) | $175 | $(90) | $85 | (b) | ||||||||||||||||||
| Noncurrent | 175 | (30) | 145 | 149 | (23) | 126 | ||||||||||||||||||||
| Total fair value of derivative assets | $485 | $(146) | $339 | $324 | $(113) | $211 | ||||||||||||||||||||
| Fair value of derivative liabilities | ||||||||||||||||||||||||||
| Current | $(62) | $46 | $(16) | (b) | $(75) | $45 | $(30) | (b) | ||||||||||||||||||
| Noncurrent | (31) | 28 | (3) | (18) | 10 | (8) | ||||||||||||||||||||
| Total fair value of derivative liabilities | $(93) | $74 | $(19) | $(93) | $55 | $(38) | ||||||||||||||||||||
| Net fair value derivative assets (liabilities) | $392 | $(72) | $320 | $231 | $(58) | $173 | ||||||||||||||||||||
| CECONY | ||||||||||||||||||||||||||
| Fair value of derivative assets | ||||||||||||||||||||||||||
| Current | $289 | $(113) | $176 | (b) | $162 | $(88) | $74 | (b) | ||||||||||||||||||
| Noncurrent | 164 | (27) | 137 | 136 | (19) | 117 | ||||||||||||||||||||
| Total fair value of derivative assets | $453 | $(140) | $313 | $298 | $(107) | $191 | ||||||||||||||||||||
| Fair value of derivative liabilities | ||||||||||||||||||||||||||
| Current | $(56) | $44 | $(12) | (b) | $(70) | $43 | $(27) | (b) | ||||||||||||||||||
| Noncurrent | (30) | 27 | (3) | (14) | 8 | (6) | ||||||||||||||||||||
| Total fair value of derivative liabilities | $(86) | $71 | $(15) | $(84) | $51 | $(33) | ||||||||||||||||||||
| Net fair value derivative assets (liabilities) | $367 | $(69) | $298 | $214 | $(56) | $158 | ||||||||||||||||||||
| For the Six Months Ended June 30, | ||||||||||||||||||||
| Con Edison | CECONY | |||||||||||||||||||
| (Millions of Dollars) | Financial Statement Location (a) | 2026 | 2025 | 2026 | 2025 | |||||||||||||||
| Pre-tax gains/(losses) deferred in accordance with accounting rules for regulated operations: | ||||||||||||||||||||
| Current | Regulatory liabilities | $131 | $2 | $123 | $2 | |||||||||||||||
| Noncurrent | Regulatory liabilities | 22 | 17 | 23 | 17 | |||||||||||||||
| Total deferred gains (losses) | $153 | $19 | $146 | $19 | ||||||||||||||||
| Current | Regulatory assets | $10 | $(5) | $11 | $(5) | |||||||||||||||
| Current | Recoverable energy costs | 188 | 54 | 171 | 51 | |||||||||||||||
| Noncurrent | Regulatory assets | (7) | 1 | (8) | — | |||||||||||||||
| Total deferred gains (losses) | $191 | $50 | $174 | $46 | ||||||||||||||||
| Net deferred gains (losses) (b) | $344 | $69 | $320 | $65 | ||||||||||||||||
| Electric Energy (MWh) (a)(b) | Capacity (MW-mos) (a) | Natural Gas (Dt) (a)(b) | Refined Fuels (gallons) | |||||||||||
| Con Edison | 37,754,800 | 26,100 | 304,680,000 | 2,268,000 | ||||||||||
| CECONY | 36,017,425 | 16,125 | 281,370,000 | 2,268,000 | ||||||||||
| (Millions of Dollars) | Con Edison (a) | CECONY (a) | ||||||||||||
| Aggregate fair value – net liabilities | $17 | $14 | ||||||||||||
| Collateral posted | 2 | — | ||||||||||||
| Additional collateral (b) (downgrade one level from current ratings) | — | — | ||||||||||||
| Additional collateral (b)(c) (downgrade to below investment grade from current ratings) | 56 | 49 | ||||||||||||
| 2026 | 2025 | |||||||||||||||||||||||||||||||
| (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: | ||||||||||||||||||||||||||||||||
| $16 | $444 | $10 | $(128) | $342 | $19 | $292 | $5 | $(104) | $212 | |||||||||||||||||||||||
| 623 | — | — | — | 623 | 606 | — | — | — | 606 | |||||||||||||||||||||||
| Cash Value of Life Insurance Policies (a)(b) | — | 144 | — | — | 144 | — | 138 | — | — | 138 | ||||||||||||||||||||||
| Total assets | $639 | $588 | $10 | $(128) | $1,109 | $625 | $430 | $5 | $(104) | $956 | ||||||||||||||||||||||
| Derivative liabilities: | ||||||||||||||||||||||||||||||||
| Commodity (a)(b)(c) | $13 | $58 | $6 | $(54) | 23 | $6 | $70 | $10 | $(32) | $54 | ||||||||||||||||||||||
| CECONY | ||||||||||||||||||||||||||||||||
| Derivative assets: | ||||||||||||||||||||||||||||||||
| $16 | $415 | $7 | $(123) | $315 | $19 | $270 | $2 | $(100) | $191 | |||||||||||||||||||||||
| 608 | — | — | — | 608 | 591 | — | — | — | 591 | |||||||||||||||||||||||
| Cash Value of Life Insurance Policies (a)(b)(d) | — | 137 | — | — | 137 | — | 131 | — | — | 131 | ||||||||||||||||||||||
| Total assets | $624 | $552 | $7 | $(123) | $1,060 | $610 | $401 | $2 | $(100) | $913 | ||||||||||||||||||||||
| Derivative liabilities: | ||||||||||||||||||||||||||||||||
| Commodity (a)(b)(c) | $12 | $55 | $3 | $(53) | $17 | $6 | $68 | $5 | $(32) | $47 | ||||||||||||||||||||||
| Fair Value of Level 3 at June 30, 2026 | Valuation Techniques | Unobservable Inputs | Range | Average Market Price | |||||||||||||
| (Millions of Dollars) | |||||||||||||||||
| Con Edison – Commodity | |||||||||||||||||
| Electricity | $5 | Discounted Cash Flow | Forward energy prices ($/MWh) (a) | $40.10 - $131.20 per MWh | $67.02 | ||||||||||||
| Electricity | (2) | Discounted Cash Flow | Forward capacity prices ($/kW-month) (a) | $1.36 - $8.37 per kW-month | $4.22 | ||||||||||||
| Transmission Congestion Contracts | 1 | Discounted Cash Flow | Inter-zonal forward price curves adjusted for historical zonal losses ($/MWh) (b) | $0.16 - $4.88 per MWh | $1.09 | ||||||||||||
| Total Con Edison—Commodity | $4 | ||||||||||||||||
| CECONY – Commodity | |||||||||||||||||
| Electricity | $5 | Discounted Cash Flow | Forward energy prices ($/MWh) (a) | $40.10 - $131.20 per MWh | $67.02 | ||||||||||||
| Electricity | (2) | Discounted Cash Flow | Forward capacity prices ($/kW-month) (a) | $1.36 - $8.37 per kW-month | $4.11 | ||||||||||||
| Transmission Congestion Contracts | 1 | Discounted Cash Flow | Inter-zonal forward price curves adjusted for historical zonal losses ($/MWh) (b) | $0.16 - $4.88 per MWh | $1.09 | ||||||||||||
| Total CECONY—Commodity | $4 | ||||||||||||||||
| For the Three Months Ended June 30, | ||||||||||||||
| Con Edison | CECONY | |||||||||||||
| (Millions of Dollars) | 2026 | 2025 | 2026 | 2025 | ||||||||||
| Beginning balance as of April 1, | $8 | $(13) | $3 | $(5) | ||||||||||
| Included in earnings | 3 | (1) | 1 | — | ||||||||||
| Included in regulatory assets and liabilities | (4) | (4) | 1 | (3) | ||||||||||
| Settlements | (3) | 1 | (1) | — | ||||||||||
| Transfer out of level 3 | — | — | — | — | ||||||||||
| Ending balance as of June 30, | $4 | $(17) | $4 | $(8) | ||||||||||
| For the Six Months Ended June 30, | ||||||||||||||
| Con Edison | CECONY | |||||||||||||
| (Millions of Dollars) | 2026 | 2025 | 2026 | 2025 | ||||||||||
| Beginning balance as of January 1, | $(5) | $(15) | $(3) | $(6) | ||||||||||
| Included in earnings | — | (3) | — | — | ||||||||||
| Included in regulatory assets and liabilities | 10 | (1) | 8 | (2) | ||||||||||
| Settlements | — | 2 | — | — | ||||||||||
| Transfer out of level 3 | (1) | — | (1) | — | ||||||||||
| Ending balance as of June 30, | $4 | $(17) | $4 | $(8) | ||||||||||
| For the Three Months Ended June 30, | ||||||||
CECONY | ||||||||
| (Millions of Dollars) | 2026 | 2025 | ||||||
| Cost of services provided | $43 | $37 | ||||||
| Cost of services received | $22 | $22 | ||||||
| For the Six Months Ended June 30, | ||||||||
| CECONY | ||||||||
| (Millions of Dollars) | 2026 | 2025 | ||||||
| Cost of services provided | $81 | $77 | ||||||
| Cost of services received | $43 | $42 | ||||||
| Con Edison | |||||||||||||||||||||||
| CECONY | O&R | Con Edison Transmission | |||||||||||||||||||||
•RECO | |||||||||||||||||||||||
| For the Three Months Ended June 30, 2026 | For the Six Months Ended June 30, 2026 | At June 30, 2026 | ||||||||||||||||||||||||||||||
| (Millions of Dollars, except percentages) | Operating Revenues | Net Income for Common Stock | Operating Revenues | Net Income for Common Stock | Assets | |||||||||||||||||||||||||||
| CECONY | $3,805 | 94 | % | $296 | 96 | % | $8,459 | 92 | % | $1,029 | 83 | % | $71,287 | 93 | % | |||||||||||||||||
| O&R | 263 | 6 | 8 | 3 | 704 | 8 | 59 | 5 | 4,597 | 6 | ||||||||||||||||||||||
| Total Utilities | $4,068 | 100 | % | $304 | 99 | % | $9,163 | 100 | % | $1,088 | 88 | % | $75,884 | 99 | % | |||||||||||||||||
| Con Edison Transmission | 1 | — | 7 | 2 | 2 | — | 150 | 12 | 381 | 1 | ||||||||||||||||||||||
| Other (a) | — | — | (3) | (1) | (1) | — | (6) | — | 194 | — | ||||||||||||||||||||||
| Total Con Edison | $4,069 | 100 | % | $308 | 100 | % | $9,164 | 100 | % | $1,232 | 100 | % | $76,459 | 100 | % | |||||||||||||||||
| For the Three Months Ended June 30, | For the Six Months Ended June 30, | |||||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | |||||||||||||||||||
| (Millions of Dollars, except per share amounts) | Net Income for Common Stock | Earnings per Share | Net Income for Common Stock | Earnings per Share | ||||||||||||||||||||||
| CECONY | $296 | $222 | $0.80 | $0.62 | $1,029 | $967 | $2.81 | $2.73 | ||||||||||||||||||
| O&R | 8 | 8 | 0.02 | 0.02 | 59 | 53 | 0.16 | 0.15 | ||||||||||||||||||
| Con Edison Transmission (a) | 7 | 10 | 0.02 | 0.03 | 150 | 20 | 0.42 | 0.06 | ||||||||||||||||||
| Other (b) | (3) | 6 | (0.01) | 0.01 | (6) | (2) | (0.02) | (0.01) | ||||||||||||||||||
| Con Edison (c) | $308 | $246 | $0.83 | $0.68 | $1,232 | $1,038 | $3.37 | $2.93 | ||||||||||||||||||
| For the Three Months Ended June 30, | For the Six Months Ended June 30, | |||||||||||||
| (Millions of Dollars) | 2026 | 2025 | 2026 | 2025 | ||||||||||
| CECONY | ||||||||||||||
| Operations | $533 | $509 | $1,056 | $994 | ||||||||||
| Pensions and other postretirement benefits (a) | (19) | 7 | (39) | 13 | ||||||||||
| Health care and other benefits | 59 | 50 | 120 | 99 | ||||||||||
| Regulatory fees and assessments (b) | 102 | 118 | 221 | 242 | ||||||||||
| Other | 139 | 142 | 300 | 332 | ||||||||||
| Total CECONY | $814 | $826 | $1,658 | $1,680 | ||||||||||
| O&R | 96 | 93 | 189 | 188 | ||||||||||
| Con Edison Transmission | 2 | 4 | 5 | 7 | ||||||||||
| Other (c) | 1 | — | (1) | — | ||||||||||
| Total other operations and maintenance expenses | $913 | $923 | $1,851 | $1,875 | ||||||||||
| CECONY | O&R | Con Edison Transmission | Other (a) | Con Edison (b) | ||||||||||||||||||||||||||||
| (Millions of Dollars) | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||||
| Operating revenues | $3,805 | $3,340 | $263 | $254 | $1 | $1 | $— | $— | $4,069 | $3,595 | ||||||||||||||||||||||
| Purchased power | 765 | 579 | 72 | 70 | — | — | — | — | 837 | 649 | ||||||||||||||||||||||
| Fuel | 56 | 27 | — | — | — | — | — | — | 56 | 27 | ||||||||||||||||||||||
| Gas purchased for resale | 135 | 148 | 21 | 24 | — | — | — | (1) | 156 | 171 | ||||||||||||||||||||||
| Other operations and maintenance | 814 | 826 | 96 | 93 | 2 | 4 | 1 | — | 913 | 923 | ||||||||||||||||||||||
| Depreciation and amortization | 544 | 544 | 34 | 31 | — | — | — | 1 | 578 | 576 | ||||||||||||||||||||||
| Taxes, other than income taxes | 952 | 869 | 24 | 23 | — | — | 1 | 2 | 977 | 894 | ||||||||||||||||||||||
| Operating income (loss) | 539 | 347 | 16 | 13 | (1) | (3) | (2) | (2) | 552 | 355 | ||||||||||||||||||||||
| Other income | 149 | 209 | 10 | 11 | 11 | 17 | — | 4 | 170 | 241 | ||||||||||||||||||||||
| Net interest expense (income) | 294 | 286 | 18 | 15 | — | — | 2 | (1) | 314 | 300 | ||||||||||||||||||||||
| Income (loss) before income tax expense (benefit) | 394 | 270 | 8 | 9 | 10 | 14 | (4) | 3 | 408 | 296 | ||||||||||||||||||||||
| Income tax expense (benefit) | 98 | 48 | — | 1 | 3 | 4 | (1) | (3) | 100 | 50 | ||||||||||||||||||||||
| Net income (loss) for common stock | $296 | $222 | $8 | $8 | $7 | $10 | $(3) | $6 | $308 | $246 | ||||||||||||||||||||||
| For the Three Months Ended June 30, 2026 | For the Three Months Ended June 30, 2025 | ||||||||||||||||||||||||||||
| (Millions of Dollars) | Electric | Gas | Steam | 2026 Total | Electric | Gas | Steam | 2025 Total | 2026-2025 Variation | ||||||||||||||||||||
| Operating revenues | $2,934 | $753 | $118 | $3,805 | $2,581 | $653 | $106 | $3,340 | $465 | ||||||||||||||||||||
| Purchased power | 757 | — | 8 | 765 | 572 | — | 7 | 579 | 186 | ||||||||||||||||||||
| Fuel | 41 | — | 15 | 56 | 15 | — | 12 | 27 | 29 | ||||||||||||||||||||
| Gas purchased for resale | — | 135 | — | 135 | — | 148 | — | 148 | (13) | ||||||||||||||||||||
| Other operations and maintenance | 610 | 142 | 62 | 814 | 636 | 134 | 56 | 826 | (12) | ||||||||||||||||||||
| Depreciation and amortization | 392 | 122 | 30 | 544 | 396 | 119 | 29 | 544 | — | ||||||||||||||||||||
| Taxes, other than income taxes | 709 | 182 | 61 | 952 | 650 | 166 | 53 | 869 | 83 | ||||||||||||||||||||
| Operating income | $425 | $172 | $(58) | $539 | $312 | $86 | $(51) | $347 | $192 | ||||||||||||||||||||
| For the Three Months Ended | |||||||||||
| (Millions of Dollars) | June 30, 2026 | June 30, 2025 | Variation | ||||||||
| Operating revenues | $2,934 | $2,581 | $353 | ||||||||
| Purchased power | 757 | 572 | 185 | ||||||||
| Fuel | 41 | 15 | 26 | ||||||||
| Other operations and maintenance | 610 | 636 | (26) | ||||||||
| Depreciation and amortization | 392 | 396 | (4) | ||||||||
| Taxes, other than income taxes | 709 | 650 | 59 | ||||||||
| Electric operating income | $425 | $312 | $113 | ||||||||
| Millions of kWh Delivered | Revenues in Millions (a) | ||||||||||||||||||||||||||||
| For the Three Months Ended | For the Three Months Ended | ||||||||||||||||||||||||||||
| Description | June 30, 2026 | June 30, 2025 | Variation | Percent Variation | June 30, 2026 | June 30, 2025 | Variation | Percent Variation | |||||||||||||||||||||
| Residential/Religious (b) | 2,880 | 2,466 | 414 | 16.8 | % | $1,203 | $921 | $282 | 30.6 | % | |||||||||||||||||||
| Commercial/Industrial | 2,478 | 2,419 | 59 | 2.4 | 851 | 723 | 128 | 17.7 | |||||||||||||||||||||
| Retail choice customers | 4,659 | 4,722 | (63) | (1.3) | 615 | 604 | 11 | 1.8 | |||||||||||||||||||||
| NYPA, Municipal Agency and other sales | 2,285 | 2,324 | (39) | (1.7) | 247 | 219 | 28 | 12.8 | |||||||||||||||||||||
| Other operating revenues (c) | — | — | — | — | 18 | 114 | (96) | (84.2) | |||||||||||||||||||||
| Total | 12,302 | 11,931 | 371 | 3.1 | % | (d) | $2,934 | $2,581 | $353 | 13.7 | % | ||||||||||||||||||
| For the Three Months Ended | |||||||||||
| (Millions of Dollars) | June 30, 2026 | June 30, 2025 | Variation | ||||||||
| Operating revenues | $753 | $653 | $100 | ||||||||
| Gas purchased for resale | 135 | 148 | (13) | ||||||||
| Other operations and maintenance | 142 | 134 | 8 | ||||||||
| Depreciation and amortization | 122 | 119 | 3 | ||||||||
| Taxes, other than income taxes | 182 | 166 | 16 | ||||||||
| Gas operating income | $172 | $86 | $86 | ||||||||
| Thousands of Dt Delivered | Revenues in Millions (a) | ||||||||||||||||||||||||||||
| For the Three Months Ended | For the Three Months Ended | ||||||||||||||||||||||||||||
| Description | June 30, 2026 | June 30, 2025 | Variation | Percent Variation | June 30, 2026 | June 30, 2025 | Variation | Percent Variation | |||||||||||||||||||||
| Residential | 9,597 | 9,253 | 344 | 3.7 | % | $277 | $282 | $(5) | (1.8) | % | |||||||||||||||||||
| General | 7,639 | 7,664 | (25) | (0.3) | 190 | 195 | (5) | (2.6) | |||||||||||||||||||||
| Firm transportation | 15,842 | 16,590 | (748) | (4.5) | 193 | 204 | (11) | (5.4) | |||||||||||||||||||||
| Total firm sales and transportation | 33,078 | 33,507 | (429) | (1.3) | % | (b) | $660 | $681 | $(21) | (3.1) | % | ||||||||||||||||||
| Interruptible sales | 851 | 1,059 | (208) | (19.6) | 5 | 7 | (2) | (28.6) | |||||||||||||||||||||
| NYPA | 14,180 | 9,697 | 4,483 | 46.2 | 1 | 1 | — | — | |||||||||||||||||||||
| Generation plants | 16,710 | 14,572 | 2,138 | 14.7 | 6 | 5 | 1 | 20.0 | |||||||||||||||||||||
| Other | 3,873 | 4,270 | (397) | (9.3) | 10 | 10 | — | — | |||||||||||||||||||||
| Other operating revenues (c) | — | — | — | — | 71 | (51) | 122 | Large | |||||||||||||||||||||
| Total | 68,692 | 63,105 | 5,587 | 8.9 | % | $753 | $653 | $100 | 15.3 | % | |||||||||||||||||||
| For the Three Months Ended | |||||||||||
| (Millions of Dollars) | June 30, 2026 | June 30, 2025 | Variation | ||||||||
| Operating revenues | $118 | $106 | $12 | ||||||||
| Purchased power | 8 | 7 | 1 | ||||||||
| Fuel | 15 | 12 | 3 | ||||||||
| Other operations and maintenance | 62 | 56 | 6 | ||||||||
| Depreciation and amortization | 30 | 29 | 1 | ||||||||
| Taxes, other than income taxes | 61 | 53 | 8 | ||||||||
| Steam operating income | $(58) | $(51) | $(7) | ||||||||
| Millions of Pounds Delivered | Revenues in Millions | ||||||||||||||||||||||||||||
| For the Three Months Ended | For the Three Months Ended | ||||||||||||||||||||||||||||
| Description | June 30, 2026 | June 30, 2025 | Variation | Percent Variation | June 30, 2026 | June 30, 2025 | Variation | Percent Variation | |||||||||||||||||||||
| General | 59 | 55 | 4 | 7.3 | % | $7 | $5 | $2 | 40.0 | % | |||||||||||||||||||
| Apartment house | 858 | 880 | (22) | (2.5) | 37 | 33 | 4 | 12.1 | |||||||||||||||||||||
| Annual power | 1,748 | 1,753 | (5) | (0.3) | 82 | 72 | 10 | 13.9 | |||||||||||||||||||||
| Other operating revenues (a) | — | — | — | — | (8) | (4) | (4) | Large | |||||||||||||||||||||
| Total | 2,665 | 2,688 | (23) | (0.9) | % | (b) | $118 | $106 | $12 | 11.3 | % | ||||||||||||||||||
| For the Three Months Ended June 30, | |||||||||||||||||
| (Millions of Dollars) | 2026 | 2025 | Variation | ||||||||||||||
| Property taxes | $763 | $722 | $41 | ||||||||||||||
| State and local taxes related to revenue receipts | 127 | 102 | 25 | ||||||||||||||
| Payroll taxes | 24 | 22 | 2 | ||||||||||||||
| Other taxes (b) | 38 | 23 | 15 | ||||||||||||||
| Total | $952 | (a) | $869 | (a) | $83 | ||||||||||||
| For the Three Months Ended June 30, 2026 | For the Three Months Ended June 30, 2025 | ||||||||||||||||||||||
| (Millions of Dollars) | Electric | Gas | 2026 Total | Electric | Gas | 2025 Total | 2026-2025 Variation | ||||||||||||||||
| Operating revenues | $205 | $58 | $263 | $196 | $58 | $254 | $9 | ||||||||||||||||
| Purchased power | 72 | — | 72 | 70 | — | 70 | 2 | ||||||||||||||||
| Gas purchased for resale | — | 21 | 21 | — | 24 | 24 | (3) | ||||||||||||||||
| Other operations and maintenance | 75 | 21 | 96 | 73 | 20 | 93 | 3 | ||||||||||||||||
| Depreciation and amortization | 23 | 11 | 34 | 22 | 9 | 31 | 3 | ||||||||||||||||
| Taxes, other than income taxes | 15 | 9 | 24 | 15 | 8 | 23 | 1 | ||||||||||||||||
| Operating income | $20 | $(4) | $16 | $16 | $(3) | $13 | $3 | ||||||||||||||||
| For the Three Months Ended | |||||||||||
| (Millions of Dollars) | June 30, 2026 | June 30, 2025 | Variation | ||||||||
| Operating revenues | $205 | $196 | $9 | ||||||||
| Purchased power | 72 | 70 | 2 | ||||||||
| Other operations and maintenance | 75 | 73 | 2 | ||||||||
| Depreciation and amortization | 23 | 22 | 1 | ||||||||
| Taxes, other than income taxes | 15 | 15 | — | ||||||||
| Electric operating income | $20 | $16 | $4 | ||||||||
| Millions of kWh Delivered | Revenues in Millions (a) | ||||||||||||||||||||||||||||
| For the Three Months Ended | For the Three Months Ended | ||||||||||||||||||||||||||||
| Description | June 30, 2026 | June 30, 2025 | Variation | Percent Variation | June 30, 2026 | June 30, 2025 | Variation | Percent Variation | |||||||||||||||||||||
| Residential/Religious (b) | 516 | 473 | 43 | 9.1 | % | $125 | $115 | $10 | 8.7 | % | |||||||||||||||||||
| Commercial/Industrial | 243 | 247 | (4) | (1.6) | 42 | 51 | (9) | (17.6) | |||||||||||||||||||||
| Retail choice customers | 569 | 526 | 43 | 8.2 | 35 | 37 | (2) | (5.4) | |||||||||||||||||||||
| Public authorities | 26 | 27 | (1) | (3.7) | 5 | 3 | 2 | 66.7 | |||||||||||||||||||||
| Other operating revenues (c) | — | — | — | — | (2) | (10) | 8 | (80.0) | |||||||||||||||||||||
| Total | 1,354 | 1,273 | 81 | 6.4 | % | (d) | $205 | $196 | $9 | 4.6 | % | ||||||||||||||||||
| For the Three Months Ended | |||||||||||
| (Millions of Dollars) | June 30, 2026 | June 30, 2025 | Variation | ||||||||
| Operating revenues | $58 | $58 | $— | ||||||||
| Gas purchased for resale | 21 | 24 | (3) | ||||||||
| Other operations and maintenance | 21 | 20 | 1 | ||||||||
| Depreciation and amortization | 11 | 9 | 2 | ||||||||
| Taxes, other than income taxes | 9 | 8 | 1 | ||||||||
| Gas operating income | $(4) | $(3) | $(1) | ||||||||
| Thousands of Dt Delivered | Revenues in Millions (a) | ||||||||||||||||||||||||||||
| For the Three Months Ended | For the Three Months Ended | ||||||||||||||||||||||||||||
| Description | June 30, 2026 | June 30, 2025 | Variation | Percent Variation | June 30, 2026 | June 30, 2025 | Variation | Percent Variation | |||||||||||||||||||||
| Residential | 1,602 | 1,677 | (75) | (4.5) | % | $35 | $41 | $(6) | (14.6) | % | |||||||||||||||||||
| General | 377 | 400 | (23) | (5.8) | 6 | 6 | — | — | |||||||||||||||||||||
| Firm transportation | 773 | 774 | (1) | (0.1) | 7 | 8 | (1) | (12.5) | |||||||||||||||||||||
| Total firm sales and transportation | 2,752 | 2,851 | (99) | (3.5) | % | (b) | $48 | $55 | $(7) | (12.7) | % | ||||||||||||||||||
| Interruptible sales | 758 | 838 | (80) | (9.5) | 2 | 2 | — | — | |||||||||||||||||||||
| Other | 119 | 110 | 9 | 8.2 | — | — | — | — | |||||||||||||||||||||
| Other gas revenues | — | — | — | — | 8 | 1 | 7 | Large | |||||||||||||||||||||
| Total | 3,629 | 3,799 | (170) | (4.5) | % | $58 | $58 | $— | — | ||||||||||||||||||||
| For the Three Months Ended June 30, | |||||||||||||||||
| (Millions of Dollars) | 2026 | 2025 | Variation | ||||||||||||||
| Property taxes | $18 | $18 | $— | ||||||||||||||
| State and local taxes related to revenue receipts | 3 | 3 | — | ||||||||||||||
| Payroll taxes | 3 | 2 | 1 | ||||||||||||||
| Total | $24 | (a) | $23 | (a) | $1 | ||||||||||||
| CECONY | O&R | Con Edison Transmission | Other (a) | Con Edison (b) | ||||||||||||||||||||||||||||
| (Millions of Dollars) | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||||
| Operating revenues | $8,459 | $7,782 | $704 | $610 | $2 | $2 | $(1) | $(1) | $9,164 | $8,393 | ||||||||||||||||||||||
| Purchased power | 1,374 | 1,215 | 219 | 156 | — | — | — | (1) | 1,593 | 1,370 | ||||||||||||||||||||||
| Fuel | 245 | 154 | — | — | — | — | — | — | 245 | 154 | ||||||||||||||||||||||
| Gas purchased for resale | 496 | 453 | 86 | 80 | — | — | — | — | 582 | 533 | ||||||||||||||||||||||
| Other operations and maintenance | 1,658 | 1,680 | 189 | 188 | 5 | 7 | (1) | — | 1,851 | 1,875 | ||||||||||||||||||||||
| Depreciation and amortization | 1,082 | 1,077 | 67 | 62 | — | — | 1 | 1 | 1,150 | 1,140 | ||||||||||||||||||||||
| Taxes, other than income taxes | 1,958 | 1,789 | 51 | 49 | — | — | 4 | 3 | 2,013 | 1,841 | ||||||||||||||||||||||
| Operating income (loss) | 1,646 | 1,414 | 92 | 75 | (3) | (5) | (5) | (4) | 1,730 | 1,480 | ||||||||||||||||||||||
| Gain on sale of interest in Mountain Valley Pipeline, LLC | — | — | — | — | 189 | — | — | — | 189 | — | ||||||||||||||||||||||
| Other income (deductions) | 292 | 407 | 19 | 23 | 26 | 33 | 1 | (1) | 338 | 462 | ||||||||||||||||||||||
| Net interest expense | 580 | 579 | 36 | 31 | — | — | 6 | 2 | 622 | 612 | ||||||||||||||||||||||
| Income (loss) before income tax expense (benefit) | 1,358 | 1,242 | 75 | 67 | 212 | 28 | (10) | (7) | 1,635 | 1,330 | ||||||||||||||||||||||
| Income tax expense (benefit) | 329 | 275 | 16 | 14 | 62 | 8 | (4) | (5) | 403 | 292 | ||||||||||||||||||||||
| Net income (loss) for common stock | $1,029 | $967 | $59 | $53 | $150 | $20 | ($6) | $(2) | $1,232 | $1,038 | ||||||||||||||||||||||
| For the Six Months Ended June 30, 2026 | For the Six Months Ended June 30, 2025 | ||||||||||||||||||||||||||||
| (Millions of Dollars) | Electric | Gas | Steam | 2026 Total | Electric | Gas | Steam | 2025 Total | 2026-2025 Variation | ||||||||||||||||||||
| Operating revenues | $5,692 | $2,217 | $550 | $8,459 | $5,267 | $2,055 | $460 | $7,782 | $677 | ||||||||||||||||||||
| Purchased power | 1,347 | — | 27 | 1,374 | 1,193 | — | 22 | 1,215 | 159 | ||||||||||||||||||||
| Fuel | 136 | — | 109 | 245 | 81 | — | 73 | 154 | 91 | ||||||||||||||||||||
| Gas purchased for resale | — | 496 | — | 496 | — | 453 | — | 453 | 43 | ||||||||||||||||||||
| Other operations and maintenance | 1,259 | 279 | 120 | 1,658 | 1,295 | 273 | 112 | 1,680 | (22) | ||||||||||||||||||||
| Depreciation and amortization | 779 | 244 | 59 | 1,082 | 784 | 237 | 56 | 1,077 | 5 | ||||||||||||||||||||
| Taxes, other than income taxes | 1,411 | 405 | 142 | 1,958 | 1,312 | 366 | 111 | 1,789 | 169 | ||||||||||||||||||||
| Operating income (loss) | $760 | $793 | $93 | $1,646 | $602 | $726 | $86 | $1,414 | $232 | ||||||||||||||||||||
| For the Six Months Ended | |||||||||||
| (Millions of Dollars) | June 30, 2026 | June 30, 2025 | Variation | ||||||||
| Operating revenues | $5,692 | $5,267 | $425 | ||||||||
| Purchased power | 1,347 | 1,193 | 154 | ||||||||
| Fuel | 136 | 81 | 55 | ||||||||
| Other operations and maintenance | 1,259 | 1,295 | (36) | ||||||||
| Depreciation and amortization | 779 | 784 | (5) | ||||||||
| Taxes, other than income taxes | 1,411 | 1,312 | 99 | ||||||||
| Electric operating income | $760 | $602 | $158 | ||||||||
| Millions of kWh Delivered | Revenues in Millions (a) | ||||||||||||||||||||||||||||
| For the Six Months Ended | For the Six Months Ended | ||||||||||||||||||||||||||||
| Description | June 30, 2026 | June 30, 2025 | Variation | Percent Variation | June 30, 2026 | June 30, 2025 | Variation | Percent Variation | |||||||||||||||||||||
| Residential/Religious (b) | 6,296 | 5,504 | 792 | 14.4 | % | $2,447 | $2,052 | $395 | 19.2 | % | |||||||||||||||||||
| Commercial/Industrial | 5,452 | 5,332 | 120 | 2.3 | 1,728 | 1,591 | 137 | 8.6 | |||||||||||||||||||||
| Retail choice customers | 9,593 | 9,905 | (312) | (3.1) | 1,134 | 1,207 | (73) | (6.0) | |||||||||||||||||||||
| NYPA, Municipal Agency and other sales | 4,707 | 4,768 | (61) | (1.3) | 449 | 416 | 33 | 7.9 | |||||||||||||||||||||
| Other operating revenues (c) | — | — | — | — | (66) | 1 | (67) | Large | |||||||||||||||||||||
| Total | 26,048 | 25,509 | 539 | 2.1 | % | (d) | $5,692 | $5,267 | $425 | 8.1 | % | ||||||||||||||||||
| For the Six Months Ended | |||||||||||
| (Millions of Dollars) | June 30, 2026 | June 30, 2025 | Variation | ||||||||
| Operating revenues | $2,217 | $2,055 | $162 | ||||||||
| Gas purchased for resale | 496 | 453 | 43 | ||||||||
| Other operations and maintenance | 279 | 273 | 6 | ||||||||
| Depreciation and amortization | 244 | 237 | 7 | ||||||||
| Taxes, other than income taxes | 405 | 366 | 39 | ||||||||
| Gas operating income | $793 | $726 | $67 | ||||||||
| Thousands of Dt Delivered | Revenues in Millions (a) | ||||||||||||||||||||||||||||
| For the Six Months Ended | For the Six Months Ended | ||||||||||||||||||||||||||||
| Description | June 30, 2026 | June 30, 2025 | Variation | Percent Variation | June 30, 2026 | June 30, 2025 | Variation | Percent Variation | |||||||||||||||||||||
| Residential | 36,966 | 35,515 | 1,451 | 4.1 | % | $881 | $874 | $7 | 0.8 | % | |||||||||||||||||||
| General | 24,941 | 23,543 | 1,398 | 5.9 | 558 | 531 | 27 | 5.1 | |||||||||||||||||||||
| Firm transportation | 51,394 | 51,675 | (281) | (0.5) | 604 | 634 | (30) | (4.7) | |||||||||||||||||||||
| Total firm sales and transportation | 113,301 | 110,733 | 2,568 | 2.3 | (b) | 2,043 | 2,039 | 4 | 0.2 | ||||||||||||||||||||
| Interruptible sales | 1,917 | 2,168 | (251) | (11.6) | 24 | 19 | 5 | 26.3 | |||||||||||||||||||||
| NYPA | 21,862 | 19,596 | 2,266 | 11.6 | 1 | 1 | — | — | |||||||||||||||||||||
| Generation plants | 29,376 | 27,270 | 2,106 | 7.7 | 11 | 9 | 2 | 22.2 | |||||||||||||||||||||
| Other | 9,402 | 10,517 | (1,115) | (10.6) | 24 | 26 | (2) | (7.7) | |||||||||||||||||||||
| Other operating revenues (c) | — | — | — | — | 114 | (39) | 153 | Large | |||||||||||||||||||||
| Total | 175,858 | 170,284 | 5,574 | 3.3 | % | $2,217 | $2,055 | $162 | 7.9 | % | |||||||||||||||||||
| For the Six Months Ended | |||||||||||
| (Millions of Dollars) | June 30, 2026 | June 30, 2025 | Variation | ||||||||
| Operating revenues | $550 | $460 | $90 | ||||||||
| Purchased power | 27 | 22 | 5 | ||||||||
| Fuel | 109 | 73 | 36 | ||||||||
| Other operations and maintenance | 120 | 112 | 8 | ||||||||
| Depreciation and amortization | 59 | 56 | 3 | ||||||||
| Taxes, other than income taxes | 142 | 111 | 31 | ||||||||
| Steam operating income (loss) | $93 | $86 | $7 | ||||||||
| For the Six Months Ended June 30, | |||||||||||||||||
| (Millions of Dollars) | 2026 | 2025 | Variation | ||||||||||||||
| Property taxes | $1,538 | $1,448 | $90 | ||||||||||||||
| State and local taxes related to revenue receipts | 269 | 230 | 39 | ||||||||||||||
| Payroll taxes | 60 | 57 | 3 | ||||||||||||||
| Other taxes (b) | 91 | 54 | 37 | ||||||||||||||
| Total | $1,958 | (a) | $1,789 | (a) | $169 | ||||||||||||
| For the Six Months Ended June 30, 2026 | For the Six Months Ended June 30, 2025 | ||||||||||||||||||||||
| (Millions of Dollars) | Electric | Gas | 2026 Total | Electric | Gas | 2025 Total | 2026-2025 Variation | ||||||||||||||||
| Operating revenues | $487 | $217 | $704 | $411 | $199 | $610 | $94 | ||||||||||||||||
| Purchased power | 219 | — | 219 | 156 | — | 156 | 63 | ||||||||||||||||
| Gas purchased for resale | — | 86 | 86 | — | 80 | 80 | 6 | ||||||||||||||||
| Other operations and maintenance | 146 | 43 | 189 | 148 | 40 | 188 | 1 | ||||||||||||||||
| Depreciation and amortization | 45 | 22 | 67 | 43 | 19 | 62 | 5 | ||||||||||||||||
| Taxes, other than income taxes | 32 | 19 | 51 | 31 | 18 | 49 | 2 | ||||||||||||||||
| Operating income | $45 | $47 | $92 | $33 | $42 | $75 | $17 | ||||||||||||||||
| For the Six Months Ended | |||||||||||
| (Millions of Dollars) | June 30, 2026 | June 30, 2025 | Variation | ||||||||
| Operating revenues | $487 | $411 | $76 | ||||||||
| Purchased power | 219 | 156 | 63 | ||||||||
| Other operations and maintenance | 146 | 148 | (2) | ||||||||
| Depreciation and amortization | 45 | 43 | 2 | ||||||||
| Taxes, other than income taxes | 32 | 31 | 1 | ||||||||
| Electric operating income | $45 | $33 | $12 | ||||||||
| Millions of kWh Delivered | Revenues in Millions (a) | ||||||||||||||||||||||||||||
| For the Six Months Ended | For the Six Months Ended | ||||||||||||||||||||||||||||
| Description | June 30, 2026 | June 30, 2025 | Variation | Percent Variation | June 30, 2026 | June 30, 2025 | Variation | Percent Variation | |||||||||||||||||||||
| Residential/Religious (b) | 1,135 | 1,033 | 102 | 9.9 | % | $309 | $240 | $69 | 28.8 | % | |||||||||||||||||||
| Commercial/Industrial | 554 | 534 | 20 | 3.7 | 109 | 99 | 10 | 10.1 | |||||||||||||||||||||
| Retail choice customers | 1,154 | 1,062 | 92 | 8.7 | 68 | 71 | (3) | (4.2) | |||||||||||||||||||||
| Public authorities | 57 | 56 | 1 | 1.8 | 9 | 7 | 2 | 28.6 | |||||||||||||||||||||
| Other operating revenues (c) | — | — | — | — | (8) | (6) | (2) | 33.3 | |||||||||||||||||||||
| Total | 2,900 | 2,685 | 215 | 8.0 | % | (d) | $487 | $411 | $76 | 18.5 | % | ||||||||||||||||||
| For the Six Months Ended | |||||||||||
| (Millions of Dollars) | June 30, 2026 | June 30, 2025 | Variation | ||||||||
| Operating revenues | $217 | $199 | $18 | ||||||||
| Gas purchased for resale | 86 | 80 | 6 | ||||||||
| Other operations and maintenance | 43 | 40 | 3 | ||||||||
| Depreciation and amortization | 22 | 19 | 3 | ||||||||
| Taxes, other than income taxes | 19 | 18 | 1 | ||||||||
| Gas operating income | $47 | $42 | $5 | ||||||||
| Thousands of Dt Delivered | Revenues in Millions (a) | ||||||||||||||||||||||||||||
| For the Six Months Ended | For the Six Months Ended | ||||||||||||||||||||||||||||
| Description | June 30, 2026 | June 30, 2025 | Variation | Percent Variation | June 30, 2026 | June 30, 2025 | Variation | Percent Variation | |||||||||||||||||||||
| Residential | 9,289 | 8,818 | 471 | 5.3 | % | $172 | $150 | $22 | 14.7 | % | |||||||||||||||||||
| General | 2,012 | 1,910 | 102 | 5.3 | 29 | 25 | 4 | 16.0 | |||||||||||||||||||||
| Firm transportation | 3,394 | 3,373 | 21 | 0.6 | 29 | 26 | 3 | 11.5 | |||||||||||||||||||||
| Total firm sales and transportation | 14,695 | 14,101 | 594 | 4.2 | (b) | $230 | $201 | $29 | 14.4 | ||||||||||||||||||||
| Interruptible sales | 1,709 | 1,930 | (221) | (11.5) | 4 | 4 | — | — | |||||||||||||||||||||
| Generation plants | — | 2 | (2) | Large | — | — | — | — | |||||||||||||||||||||
| Other | 469 | 456 | 13 | 2.9 | 1 | — | 1 | — | |||||||||||||||||||||
| Other gas revenues | — | — | — | — | (18) | (6) | (12) | Large | |||||||||||||||||||||
| Total | 16,873 | 16,489 | 384 | 2.3 | % | $217 | $199 | $18 | 9.0 | % | |||||||||||||||||||
| For the Six Months Ended June 30, | |||||||||||||||||
| (Millions of Dollars) | 2026 | 2025 | Variation | ||||||||||||||
| Property taxes | $37 | $35 | $2 | ||||||||||||||
| State and local taxes related to revenue receipts | 8 | 8 | — | ||||||||||||||
| Payroll taxes | 6 | 6 | — | ||||||||||||||
| Total | $51 | (a) | $49 | (a) | $2 | ||||||||||||
| For the Six Months Ended June 30, | ||||||||||||||||||||||||||||||||
| CECONY | O&R | Con Edison Transmission | Other (a)(b) | Con Edison (b) | ||||||||||||||||||||||||||||
| (Millions of Dollars) | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||||
| Operating activities | $1,766 | $2,700 | $143 | $133 | $4 | $16 | $58 | $(33) | $1,971 | $2,816 | ||||||||||||||||||||||
Investing activities | (2,449) | (2,479) | (232) | (192) | 328 | (29) | (1) | 45 | (2,354) | (2,655) | ||||||||||||||||||||||
| Financing activities | 520 | (13) | 94 | 57 | (332) | (3) | (59) | (28) | 223 | 13 | ||||||||||||||||||||||
| Net change for the period | (163) | 208 | 5 | (2) | — | (16) | (2) | (16) | (160) | 174 | ||||||||||||||||||||||
| Balance at beginning of period | 1,581 | 1,254 | 24 | 38 | 19 | 23 | 6 | 18 | 1,630 | 1,333 | ||||||||||||||||||||||
| Balance at end of period (c) | $1,418 | $1,462 | $29 | $36 | $19 | $7 | $4 | $2 | $1,470 | $1,507 | ||||||||||||||||||||||
| For the Six Months Ended June 30, | |||||||||||
| (Millions of Dollars) | 2026 | 2025 | Variance | ||||||||
| INVESTING ACTIVITIES | |||||||||||
| Utility capital expenditures | $(2,473) | $(2,420) | $(53) | ||||||||
| Cost of removal less salvage | (208) | (251) | 43 | ||||||||
| Non-utility capital expenditures | (1) | (1) | — | ||||||||
| Proceeds from sale of equity interest in Mountain Valley Pipeline, LLC | 358 | — | 358 | ||||||||
| Proceeds from sale of Broken Bow II, net of cash and cash equivalents sold | — | 45 | (45) | ||||||||
| Other investing activities | (30) | (28) | (2) | ||||||||
| NET CASH FLOWS USED IN INVESTING ACTIVITIES | $(2,354) | $(2,655) | $301 | ||||||||
| For the Six Months Ended June 30, | |||||||||||
| (Millions of Dollars) | 2026 | 2025 | Variance | ||||||||
| INVESTING ACTIVITIES | |||||||||||
| Utility capital expenditures | $(2,246) | $(2,233) | $(13) | ||||||||
| Cost of removal less salvage | (203) | (246) | 43 | ||||||||
| NET CASH FLOWS USED IN INVESTING ACTIVITIES | $(2,449) | $(2,479) | $30 | ||||||||
| For the Six Months Ended June 30, | |||||||||||
| (Millions of Dollars) | 2026 | 2025 | Variance | ||||||||
| FINANCING ACTIVITIES | |||||||||||
| Net payment of short-term debt (Maturities 90 days or less) | $(554) | $(950) | $396 | ||||||||
| Payment of short-term debt (Maturities greater than 90 days) | (300) | — | (300) | ||||||||
| Borrowing under term loan | — | 200 | (200) | ||||||||
| Repayment of term loan | (500) | — | (500) | ||||||||
| Issuance of long-term debt | 1,300 | — | 1,300 | ||||||||
| Debt issuance costs | (17) | (1) | (16) | ||||||||
| Common stock dividends | (624) | (576) | (48) | ||||||||
| Issuance of common shares - public offering | 884 | 1,308 | (424) | ||||||||
| Issuance of common shares for stock plans | 34 | 32 | 2 | ||||||||
| NET CASH FLOWS FROM FINANCING ACTIVITIES | $223 | $13 | $210 | ||||||||
| For the Six Months Ended June 30, | |||||||||||
| (Millions of Dollars) | 2026 | 2025 | Variance | ||||||||
| FINANCING ACTIVITIES | |||||||||||
| Net payment of short-term debt (Maturities 90 days or less) | $(460) | $(894) | $434 | ||||||||
| Payment of short-term debt (Maturities greater than 90 days) | (300) | — | (300) | ||||||||
| Borrowing under term loan | — | 200 | (200) | ||||||||
| Repayment of term loan | (500) | — | (500) | ||||||||
| Issuance of long-term debt | 1,300 | — | 1,300 | ||||||||
| Debt issuance costs | (17) | (1) | (16) | ||||||||
| Capital contribution by Con Edison | 1,114 | 1,250 | (136) | ||||||||
| Dividend to Con Edison | (617) | (568) | (49) | ||||||||
| NET CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES | $520 | $(13) | $533 | ||||||||
| 2026 | 2025 | |||||||||||||
| (Millions of Dollars, except Weighted Average Yield) | Outstanding at June 30, | Daily average | Outstanding at June 30, | Daily average | ||||||||||
| Con Edison | $721 | $816 | $1,220 | $914 | ||||||||||
| CECONY | $480 | $514 | $800 | $537 | ||||||||||
| Weighted average yield | 3.9 | % | 3.9 | % | 4.6 | % | 4.5 | % | ||||||
| Common Equity Ratio (Percent of total capitalization) | ||||||||
| June 30, 2026 | December 31, 2025 | |||||||
| Con Edison | 48.9 | 48.6 | ||||||
| CECONY | 48.2 | 47.8 | ||||||
| CECONY | O&R | Con Edison Transmission | Other (a) | Con Edison (b) | ||||||||||||||||||||||||||||
| (Millions of Dollars) | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||||
| ASSETS | ||||||||||||||||||||||||||||||||
| Current assets | $6,633 | $6,433 | $331 | $337 | $51 | $21 | $(225) | $(41) | $6,790 | $6,750 | ||||||||||||||||||||||
| Investments | 749 | 725 | 22 | 22 | 326 | 462 | 4 | 4 | 1,101 | 1,213 | ||||||||||||||||||||||
| Net plant | 53,409 | 51,861 | 3,693 | 3,540 | 3 | 3 | (1) | (1) | 57,104 | 55,403 | ||||||||||||||||||||||
| Other noncurrent assets | 10,496 | 10,297 | 551 | 521 | 1 | 2 | 416 | 417 | 11,464 | 11,237 | ||||||||||||||||||||||
| Total Assets | $71,287 | $69,316 | $4,597 | $4,420 | $381 | $488 | $194 | $379 | $76,459 | $74,603 | ||||||||||||||||||||||
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||||||||||||||||||||||||||||
| Current liabilities | $4,795 | $5,944 | $356 | $396 | $2 | $18 | $201 | $256 | $5,354 | $6,614 | ||||||||||||||||||||||
| Noncurrent liabilities | 17,574 | 17,275 | 1,286 | 1,242 | 30 | (61) | (347) | (208) | 18,543 | 18,248 | ||||||||||||||||||||||
| Long-term debt | 25,351 | 24,060 | 1,492 | 1,491 | — | — | — | — | 26,843 | 25,551 | ||||||||||||||||||||||
| Equity | 23,567 | 22,037 | 1,463 | 1,291 | 349 | 531 | 340 | 331 | 25,719 | 24,190 | ||||||||||||||||||||||
| Total Liabilities and Equity | $71,287 | $69,316 | $4,597 | $4,420 | $381 | $488 | $194 | $379 | $76,459 | $74,603 | ||||||||||||||||||||||
| Ownership Interest | In-Service Date/Anticipated | Base Return on Common Equity (ROE) | Common Equity Ratio | |||||||||||
Transmission Owner Transmission Solutions (TOTS) (a) | 45.7% | 2016 | 9.99% plus 0.50% = 10.49% | 54% | ||||||||||
New York Energy Solution (NYES) (b) | 45.7% | 2023/2025 | 9.99% plus 0.50% to 1.00% = 10.49% to 10.89% (c) | 54% | ||||||||||
Propel NY Energy (d) | 41.7% of New York Transco's share | 2030 | 10.3% plus 1% = 11.3% | 53% | ||||||||||
| Exhibit 10.1.1 | Equity Distribution Agreement relating to the Common Shares, dated May 8, 2026, among Con Edison, certain Sales Agents and certain Forward Purchasers. (Designated in Con Edison's Current Report on Form 8-K dated May 8, 2026 (File No. 1-14514) as Exhibit 1) | ||||
| Exhibit 10.1.2 | |||||
| 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: August 6, 2026 | 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 | ||