Consolidated Edison (ED) 10-Q 2 Nov 09 2009 Q3 Quarterly report Financial data

Statement Of Financial Position

Statement Of Financial Position Classified (USD $)
In Millions	Sep. 30, 2009	Dec. 31, 2008
CONSOLIDATED EDISON INC
UTILITY PLANT AT ORIGINAL COST
Electric	$18,345	$17,483
Gas	3,896	3,696
Steam	1,906	1,849
General	1,848	1,795
TOTAL	25,995	24,823
Less: Accumulated depreciation	5,322	5,079
Net	20,673	19,744
Construction work in progress	1,254	1,109
NET UTILITY PLANT	21,927	20,853
NON-UTILITY PLANT
Non-utility property, less accumulated depreciation	19	20
Construction work in progress	3	1
NET PLANT	21,949	20,874
CURRENT ASSETS
Cash and temporary cash investments	75	74
Accounts receivable-customers, less allowance for uncollectible accounts	1,043	1,098
Other receivables, less allowance for uncollectible accounts	216	194
Accrued unbilled revenue	494	131
Fuel oil, at average cost	30	37
Gas in storage, at average cost	208	325
Materials and supplies, at average cost	160	154
Prepayments	440	697
Fair value of derivative assets	169	162
Recoverable energy costs	51	172
Deferred derivative losses	152	288
Other current assets	189	37
TOTAL CURRENT ASSETS	3,227	3,369
INVESTMENTS	371	356
DEFERRED CHARGES, REGULATORY ASSETS ANDNONCURRENT ASSETS
Goodwill	416	411
Intangible assets, less accumulated amortization of $2 in 2009 and 2008	4	5
Regulatory assets	7,944	8,055
Other deferred charges and noncurrent assets	301	428
TOTAL DEFERRED CHARGES, REGULATORY ASSETS AND NONCURRENT ASSETS	8,665	8,899
TOTAL ASSETS	34,212	33,498
CAPITALIZATION
Common shareholder's equity (See Statement of Common Shareholder's Equity)	9,943	9,698
Preferred stock	213	213
Long-term debt	9,363	9,232
TOTAL CAPITALIZATION	19,519	19,143
NONCURRENT LIABILITIES
Obligations under capital leases	13	17
Provision for injuries and damages	175	169
Pensions and retiree benefits	4,192	4,511
Superfund and other environmental costs	225	250
Uncertain income taxes	0	118
Asset retirement obligations	123	115
Fair value of derivative liabilities	122	120
Other noncurrent liabilities	99	79
TOTAL NONCURRENT LIABILITIES	4,949	5,379
CURRENT LIABILITIES
Long-term debt due within one year	888	482
Notes payable	509	363
Accounts payable	928	1,161
Customer deposits	271	265
Accrued taxes	48	57
Uncertain income taxes	99	0
Accrued interest	192	139
Accrued wages	81	88
Fair value of derivative liabilities	125	192
Deferred derivative gains	14	23
Deferred income taxes-recoverable energy costs	21	70
Other current liabilities	336	365
TOTAL CURRENT LIABILITIES	3,512	3,205
DEFERRED CREDITS AND REGULATORYLIABILITIES
Deferred income taxes and investment tax credits	5,353	4,999
Regulatory liabilities	839	737
Other deferred credits	40	35
TOTAL DEFERRED CREDITS ANDREGULATORY LIABILITIES	6,232	5,771
TOTAL CAPITALIZATION ANDLIABILITIES	34,212	33,498
CONSOLIDATED EDISON CO OF NEW YORK INC
UTILITY PLANT AT ORIGINAL COST
Electric	17,285	16,460
Gas	3,457	3,273
Steam	1,906	1,849
General	1,696	1,646
TOTAL	24,344	23,228
Less: Accumulated depreciation	4,863	4,636
Net	19,481	18,592
Construction work in progress	1,191	1,051
NET UTILITY PLANT	20,672	19,643
NON-UTILITY PLANT
Non-utility property, less accumulated depreciation	9	11
NET PLANT	20,681	19,654
CURRENT ASSETS
Cash and temporary cash investments	54	37
Accounts receivable-customers, less allowance for uncollectible accounts	898	937
Other receivables, less allowance for uncollectible accounts	103	127
Accrued unbilled revenue	347	0
Accounts receivable from affiliated companies	78	272
Fuel oil, at average cost	30	37
Gas in storage, at average cost	166	261
Materials and supplies, at average cost	148	145
Prepayments	361	538
Fair value of derivative assets	75	71
Recoverable energy costs	0	146
Deferred derivative losses	111	247
Other current assets	161	22
TOTAL CURRENT ASSETS	2,532	2,840
INVESTMENTS	113	93
DEFERRED CHARGES, REGULATORY ASSETS ANDNONCURRENT ASSETS
Regulatory assets	7,392	7,486
Other deferred charges and noncurrent assets	207	342
TOTAL DEFERRED CHARGES, REGULATORY ASSETS AND NONCURRENT ASSETS	7,599	7,828
TOTAL ASSETS	30,925	30,415
CAPITALIZATION
Common shareholder's equity (See Statement of Common Shareholder's Equity)	9,118	8,991
Preferred stock	213	213
Long-term debt	8,619	8,494
TOTAL CAPITALIZATION	17,950	17,698
NONCURRENT LIABILITIES
Obligations under capital leases	13	17
Provision for injuries and damages	168	163
Pensions and retiree benefits	3,771	4,059
Superfund and other environmental costs	172	196
Uncertain income taxes	0	108
Asset retirement obligations	123	115
Fair value of derivative liabilities	24	29
Other noncurrent liabilities	65	61
TOTAL NONCURRENT LIABILITIES	4,336	4,748
CURRENT LIABILITIES
Long-term debt due within one year	825	475
Notes payable	427	253
Accounts payable	718	952
Accounts payable to affiliated companies	15	26
Customer deposits	256	250
Accrued taxes	24	41
Accrued taxes to affiliated companies	39	25
Uncertain income taxes	89	0
Accrued interest	162	131
Accrued wages	78	80
Fair value of derivative liabilities	28	87
Deferred derivative gains	14	23
Deferred income taxes-recoverable energy costs	0	59
Other current liabilities	293	325
TOTAL CURRENT LIABILITIES	2,968	2,727
DEFERRED CREDITS AND REGULATORYLIABILITIES
Deferred income taxes and investment tax credits	4,939	4,611
Regulatory liabilities	695	600
Other deferred credits	37	31
TOTAL DEFERRED CREDITS ANDREGULATORY LIABILITIES	5,671	5,242
TOTAL CAPITALIZATION ANDLIABILITIES	$30,925	$30,415

1_Statement Of Financial Positi

Statement Of Financial Position Classified (Parenthetical) (USD $)
In Millions	Sep. 30, 2009	Dec. 31, 2008
CONSOLIDATED EDISON INC
Non-utility property, accumulated depreciation	$44	$40
Accounts receivable-customers, allowance for uncollectible accounts	67	60
Other receivables, allowance for uncollectible accounts	5	4
Intangible assets, accumulated amortization	2	2
CONSOLIDATED EDISON CO OF NEW YORK INC
Non-utility property, accumulated depreciation	20	19
Accounts receivable-customers, allowance for uncollectible accounts	60	53
Other receivables, allowance for uncollectible accounts	$4	$3

Statement Of Income Alternative

Statement Of Income Alternative (USD $)
In Millions, except Per Share data	3 Months Ended Sep. 30, 2009	3 Months Ended Sep. 30, 2008	9 Months Ended Sep. 30, 2009	9 Months Ended Sep. 30, 2008
CONSOLIDATED EDISON INC
OPERATING REVENUES
Electric	$2,604	$2,922	$6,362	$6,752
Gas	208	273	1,430	1,545
Steam	77	111	521	529
Non-utility	600	552	1,445	1,758
TOTAL OPERATING REVENUES	3,489	3,858	9,758	10,584
OPERATING EXPENSES
Purchased power	1,338	2,016	3,543	4,670
Fuel	83	179	403	503
Gas purchased for resale	89	132	723	871
Other operations and maintenance	676	590	1,879	1,699
Depreciation and amortization	200	183	589	531
Taxes, other than income taxes	418	356	1,145	1,033
Income taxes	201	92	378	429
TOTAL OPERATING EXPENSES	3,005	3,548	8,660	9,736
Gain on sale of generation projects	0	1	0	261
OPERATING INCOME	484	311	1,098	1,109
OTHER INCOME (DEDUCTIONS)
Investment and other income	3	10	25	79
Allowance for equity funds used during construction	4	2	9	6
Other deductions	(3)	(3)	(11)	(13)
Income taxes	6	4	9	(17)
TOTAL OTHER INCOME(DEDUCTIONS)	10	13	32	55
INTEREST EXPENSE
Interest on long-term debt	148	135	441	379
Other interest	10	6	20	22
Allowance for borrowed funds used during construction	(3)	(2)	(6)	(8)
NET INTEREST EXPENSE	155	139	455	393
INCOME FROM CONTINUINGOPERATIONS	339	185	675	771
INCOME FROM DISCONTINUED OPERATIONS
Gain on sale of generation projects, net of tax expense of $174 in 2008	0	0	0	270
Income from discontinued operations, net of tax expense of $0 and $3 in 2008	0	0	0	4
TOTAL INCOME FROMDISCONTINUED OPERATIONS	0	0	0	274
NET INCOME	339	185	675	1,045
Preferred stock dividend requirements	(3)	(3)	(9)	(9)
NET INCOME FOR COMMONSTOCK	336	182	666	1,036
EARNINGS PER COMMON SHARE-BASIC
Continuing operations	1.22	0.66	2.43	2.79
Discontinued operations	$0	$0	$0	1.01
Net income for common stock	1.22	0.66	2.43	3.8
EARNINGS PER COMMON SHARE-DILUTED
Continuing operations	1.22	0.66	2.42	2.79
Discontinued operations	$0	$0	$0	$1
Net income for common stock	1.22	0.66	2.42	3.79
DIVIDENDS DECLARED PER SHAREOF COMMON STOCK	0.59	0.585	1.77	1.755
AVERAGE NUMBER OF SHARESOUTSTANDING-BASIC (IN MILLIONS)	275.1	273.2	274.5	272.7
AVERAGE NUMBER OF SHARESOUTSTANDING-DILUTED (IN MILLIONS)	276	273.8	275.4	273.3
CONSOLIDATED EDISON INC | Retained Earnings
INCOME FROM DISCONTINUED OPERATIONS
NET INCOME FOR COMMONSTOCK	336	182
CONSOLIDATED EDISON CO OF NEW YORK INC
OPERATING REVENUES
Electric	2,395	2,670	5,865	6,162
Gas	183	242	1,259	1,366
Steam	77	111	521	529
TOTAL OPERATING REVENUES	2,655	3,023	7,645	8,057
OPERATING EXPENSES
Purchased power	753	1,195	2,009	2,620
Fuel	83	178	404	501
Gas purchased for resale	76	110	618	752
Other operations and maintenance	573	508	1,606	1,458
Depreciation and amortization	188	172	554	497
Taxes, other than income taxes	403	341	1,101	986
Income taxes	162	145	338	298
TOTAL OPERATING EXPENSES	2,238	2,649	6,630	7,112
OPERATING INCOME	417	374	1,015	945
OTHER INCOME (DEDUCTIONS)
Investment and other income	8	4	23	18
Allowance for equity funds used during construction	3	2	8	5
Other deductions	(3)	(3)	(10)	(10)
Income taxes	3	0	(1)	(2)
TOTAL OTHER INCOME(DEDUCTIONS)	11	3	20	11
INTEREST EXPENSE
Interest on long-term debt	134	120	399	347
Other interest	11	6	19	16
Allowance for borrowed funds used during construction	(2)	(2)	(6)	(6)
NET INTEREST EXPENSE	143	124	412	357
INCOME FROM DISCONTINUED OPERATIONS
NET INCOME	285	253	623	599
Preferred stock dividend requirements	(3)	(3)	(8)	(9)
NET INCOME FOR COMMONSTOCK	282	250	615	590
CONSOLIDATED EDISON CO OF NEW YORK INC | Retained Earnings
INCOME FROM DISCONTINUED OPERATIONS
NET INCOME	$285	$253

2_Statement Of Income Alternati

Statement Of Income Alternative (Parenthetical) (CONSOLIDATED EDISON INC, USD $)
In Millions	3 Months Ended Sep. 30, 2009	3 Months Ended Sep. 30, 2008	9 Months Ended Sep. 30, 2009	9 Months Ended Sep. 30, 2008
Gain on sale of generation projects, tax expense	$0	$0	$0	$174
Income from discontinued operations, tax expense	$0	$0	$0	$3

Statement Of Other Comprehensiv

Statement Of Other Comprehensive Income (USD $)
In Millions	3 Months Ended Sep. 30, 2009	3 Months Ended Sep. 30, 2008	9 Months Ended Sep. 30, 2009	9 Months Ended Sep. 30, 2008
CONSOLIDATED EDISON INC
Net income	$339	$185	$675	$1,045
OTHER COMPREHENSIVE INCOME, NET OFTAXES
Pension plan liability adjustments, net of taxes	2	1	5	3
Unrealized losses on derivatives qualified as cash flow hedges, net of taxes of $(1) in 2008	0	0	0	(1)
Less: Reclassification adjustment for losses included in net income, net of taxes of $1 and $1 in 2009 and $1 and $0 in 2008 respectively	1	1	1	0
Less: Reclassification adjustment for unrealized losses included in regulatory assets, net of taxes of $(5) in 2008	0	0	0	(8)
TOTAL OTHER COMPREHENSIVEINCOME, NET OF TAXES	1	0	4	10
COMPREHENSIVE INCOME	340	185	679	1,055
Preferred stock dividend requirements	(3)	(3)	(9)	(9)
COMPREHENSIVE INCOME FORCOMMON STOCK	337	182	670	1,046
CONSOLIDATED EDISON INC | Accumulated Other Comprehensive Income/(Loss)
OTHER COMPREHENSIVE INCOME, NET OFTAXES
TOTAL OTHER COMPREHENSIVEINCOME, NET OF TAXES	1
CONSOLIDATED EDISON CO OF NEW YORK INC
Net income	285	253	623	599
OTHER COMPREHENSIVE INCOME, NET OFTAXES
Pension plan liability adjustments, net of taxes	0	0	1	0
TOTAL OTHER COMPREHENSIVEINCOME, NET OF TAXES	1	0	1	0
COMPREHENSIVE INCOME	285	253	624	599
Preferred stock dividend requirements	(3)	(3)	(8)	(9)
CONSOLIDATED EDISON CO OF NEW YORK INC | Retained Earnings
Net income	285	253
CONSOLIDATED EDISON CO OF NEW YORK INC | Accumulated Other Comprehensive Income/(Loss)
OTHER COMPREHENSIVE INCOME, NET OFTAXES
TOTAL OTHER COMPREHENSIVEINCOME, NET OF TAXES	$1

3_Statement Of Other Comprehens

Statement Of Other Comprehensive Income (Parenthetical) (USD $)
In Millions	3 Months Ended Sep. 30, 2009	3 Months Ended Sep. 30, 2008	9 Months Ended Sep. 30, 2009	9 Months Ended Sep. 30, 2008
CONSOLIDATED EDISON INC
Pension plan liability adjustments, taxes	$1	$1	$3	$2
Unrealized losses on derivatives qualified as cash flow hedges, taxes	0	0	0	(1)
Less: Reclassification adjustment for losses included in net income, taxes	1	1	1	0
Less: Reclassification adjustment for unrealized losses included in regulatory assets, taxes	0	0	0	(5)
CONSOLIDATED EDISON CO OF NEW YORK INC
Pension plan liability adjustments, taxes	$0	$0	$1	$0

Statement Of Shareholders Equit

Statement Of Shareholders Equity And Other Comprehensive Income (USD $)
In Millions, except Share data	CONSOLIDATED EDISON INC	CONSOLIDATED EDISON INC	CONSOLIDATED EDISON INC Common Stock Amount	CONSOLIDATED EDISON INC Additional Paid- In Capital	CONSOLIDATED EDISON INC Retained Earnings	CONSOLIDATED EDISON INC	CONSOLIDATED EDISON INC Repurchased Con Edison Stock	CONSOLIDATED EDISON INC Capital Stock Expense	CONSOLIDATED EDISON INC Accumulated Other Comprehensive Income/(Loss)	CONSOLIDATED EDISON CO OF NEW YORK INC	CONSOLIDATED EDISON CO OF NEW YORK INC	CONSOLIDATED EDISON CO OF NEW YORK INC Common Stock Amount	CONSOLIDATED EDISON CO OF NEW YORK INC Additional Paid- In Capital	CONSOLIDATED EDISON CO OF NEW YORK INC Retained Earnings	CONSOLIDATED EDISON CO OF NEW YORK INC Repurchased Con Edison Stock	CONSOLIDATED EDISON CO OF NEW YORK INC Capital Stock Expense	CONSOLIDATED EDISON CO OF NEW YORK INC Accumulated Other Comprehensive Income/(Loss)
BEGINNING BALANCE at Dec. 31, 2007	$9,076		$29	$4,038	$6,113		($1,001)	($60)	($43)	$8,086		$589	$2,912	$5,616	($962)	($60)	($9)
Beginning Balance at Dec. 31, 2007		272,024,874				23,210,700					235,488,094
Net income										222				222
Net income for common stock	303				303
Common stock dividend to parent	(160)				(160)					(139)				(139)
Issuance of common shares-dividend reinvestment and employee stock plans		476,809
Issuance of common shares-dividend reinvestment and employee stock plans	21			21
Other comprehensive income	7								7
Adjustment for adoption of fair value standard	17				17
Capital contribution by parent										23			23
Cumulative preferred dividends										(3)				(3)
ENDING BALANCE at Mar. 31, 2008		272,501,683				23,210,700					235,488,094
ENDING BALANCE at Mar. 31, 2008	9,264		29	4,059	6,273		(1,001)	(60)	(36)	8,189		589	2,935	5,696	(962)	(60)	(9)
BEGINNING BALANCE at Dec. 31, 2007	9,076		29	4,038	6,113		(1,001)	(60)	(43)	8,086		589	2,912	5,616	(962)	(60)	(9)
Beginning Balance at Dec. 31, 2007		272,024,874				23,210,700					235,488,094
Net income	1,045									599
Net income for common stock	1,036									590
Other comprehensive income	10									0
ENDING BALANCE at Sep. 30, 2008						23,210,700					235,488,094
ENDING BALANCE at Sep. 30, 2008	9,723		29				(1,001)	(60)	(33)	8,991		589			(962)	(60)	(9)
BEGINNING BALANCE at Mar. 31, 2008			29				(1,001)	(60)				589			(962)	(60)	(9)
Beginning Balance at Mar. 31, 2008						23,210,700					235,488,094
Net income										124				124
Net income for common stock	552				552
Common stock dividend to parent	(162)				(162)					(145)				(145)
Issuance of common shares-dividend reinvestment and employee stock plans		493,092
Issuance of common shares-dividend reinvestment and employee stock plans	23			23
Other comprehensive income	3								3
Capital contribution by parent										26			26
Cumulative preferred dividends										(3)				(3)
ENDING BALANCE at Jun. 30, 2008		272,994,775				23,210,700					235,488,094
ENDING BALANCE at Jun. 30, 2008	9,680		29	4,082	6,663		(1,001)	(60)	(33)	8,191		589	2,961	5,672	(962)	(60)	(9)
Net income	185									253				253
Net income for common stock	182				182					250
Common stock dividend to parent	(160)				(160)					(152)				(152)
Issuance of common shares-dividend reinvestment and employee stock plans		532,679
Issuance of common shares-dividend reinvestment and employee stock plans	21			21
Other comprehensive income	0									0
Capital contribution by parent										702			702
Cumulative preferred dividends										(3)				(3)
ENDING BALANCE at Sep. 30, 2008		273,527,454				23,210,700					235,488,094
ENDING BALANCE at Sep. 30, 2008			29	4,103	6,685		(1,001)	(60)	(33)			589	3,663	5,770	(962)	(60)	(9)
BEGINNING BALANCE at Dec. 31, 2008	9,698		29	4,112	6,685		(1,001)	(60)	(67)	8,991		589	3,664	5,780	(962)	(60)	(20)
Beginning Balance at Dec. 31, 2008		273,721,686				23,210,700					235,488,094
Net income										200				200
Net income for common stock	180				180
Common stock dividend to parent	(162)				(162)					(163)				(163)
Issuance of common shares-dividend reinvestment and employee stock plans		532,533
Issuance of common shares-dividend reinvestment and employee stock plans	20			20
Other comprehensive income	1								1
Cumulative preferred dividends										(3)				(3)
ENDING BALANCE at Mar. 31, 2009		274,254,219				23,210,700					235,488,094
ENDING BALANCE at Mar. 31, 2009	9,737		29	4,132	6,703		(1,001)	(60)	(66)	9,025		589	3,664	5,814	(962)	(60)	(20)
BEGINNING BALANCE at Dec. 31, 2008	9,698		29	4,112	6,685		(1,001)	(60)	(67)	8,991		589	3,664	5,780	(962)	(60)	(20)
Beginning Balance at Dec. 31, 2008		273,721,686				23,210,700					235,488,094
Net income	675									623
Net income for common stock	666									615
Other comprehensive income	4									1
ENDING BALANCE at Sep. 30, 2009						23,210,700					235,488,094
ENDING BALANCE at Sep. 30, 2009	9,943		29				(1,001)	(60)		9,118		589	3,664		(962)	(60)
BEGINNING BALANCE at Mar. 31, 2009			29				(1,001)	(60)				589	3,664		(962)	(60)	(20)
Beginning Balance at Mar. 31, 2009						23,210,700					235,488,094
Net income										139				139
Net income for common stock	150				150
Common stock dividend to parent	(162)				(162)					(163)				(163)
Issuance of common shares-dividend reinvestment and employee stock plans		584,916
Issuance of common shares-dividend reinvestment and employee stock plans	21			21
Other comprehensive income	2								2
Cumulative preferred dividends										(3)				(3)
ENDING BALANCE at Jun. 30, 2009		274,839,135				23,210,700					235,488,094
ENDING BALANCE at Jun. 30, 2009	9,748		29	4,153	6,691		(1,001)	(60)	(64)	8,998		589	3,664	5,787	(962)	(60)	(20)
Net income	339									285				285
Net income for common stock	336				336					282
Common stock dividend to parent	(162)				(162)					(163)				(163)
Issuance of common shares-dividend reinvestment and employee stock plans		520,041
Issuance of common shares-dividend reinvestment and employee stock plans	20			20
Other comprehensive income	1								1	1							1
Cumulative preferred dividends										(3)				(3)
ENDING BALANCE at Sep. 30, 2009		275,359,176				23,210,700					235,488,094
ENDING BALANCE at Sep. 30, 2009			$29	$4,173	$6,865		($1,001)	($60)	($63)			$589	$3,664	$5,906	($962)	($60)	($19)

Statement Of Cash Flows Indirec

Statement Of Cash Flows Indirect (USD $)
In Millions	9 Months Ended Sep. 30, 2009	9 Months Ended Sep. 30, 2008
CONSOLIDATED EDISON INC
OPERATING ACTIVITIES
Net income	$675	$1,045
PRINCIPAL NON-CASH CHARGES/(CREDITS) TOINCOME
Depreciation and amortization	589	531
Deferred income taxes	255	337
Rate case amortization and accruals	(38)	(135)
Net transmission and distribution reconciliation	0	(48)
Common equity component of allowance for funds used during construction	(9)	(6)
Pre-tax gain on sale of generation projects	0	(704)
Net derivative losses/(gains)	(2)	43
Other non-cash items (net)	(48)	21
CHANGES IN ASSETS AND LIABILITIES
Accounts receivable-customers, less allowance for uncollectibles	55	(40)
Materials and supplies, including fuel oil and gas in storage	118	(173)
Other receivables and other current assets	(171)	(104)
Prepayments	257	(690)
Recoverable energy costs	102	230
Accounts payable	(168)	(235)
Pensions and retiree benefits	(35)	(60)
Accrued taxes	(9)	87
Accrued interest	53	19
Deferred charges, noncurrent assets and other regulatory assets	(9)	(265)
Deferred credits and other regulatory liabilities	(118)	187
Other assets	(4)	145
Other liabilities	(33)	(135)
NET CASH FLOWS FROMOPERATING ACTIVITIES	1,460	50
INVESTING ACTIVITIES
Utility construction expenditures	(1,524)	(1,602)
Cost of removal less salvage	(126)	(139)
Non-utility construction expenditures	(5)	2
Common equity component of allowance for funds used during construction	9	6
Proceeds from sale of generation projects	0	1,477
Purchase of ownership interest in Hawkeye lease	0	(12)
Purchase of ownership interest in Newington SCS	0	(20)
NET CASH FLOWS USEDIN INVESTING ACTIVITIES	(1,646)	(288)
FINANCING ACTIVITIES
Net proceeds from/(payments of) short-term debt	146	(238)
Retirement of long-term debt	(279)	(485)
Issuance of long-term debt	750	1,250
Issuance of common stock	25	37
Debt issuance costs	(5)	(10)
Common stock dividends	(450)	(458)
NET CASH FLOWS FROMFINANCING ACTIVITIES	187	96
CASH AND TEMPORARY CASH INVESTMENTS:
NET CHANGE FOR THE PERIOD	1	(142)
BALANCE AT BEGINNING OFPERIOD	74	210
BALANCE AT END OFPERIOD	75	68
Cash paid during the period for:
Interest	377	378
Income taxes	8	217
CONSOLIDATED EDISON CO OF NEW YORK INC
OPERATING ACTIVITIES
Net income	623	599
PRINCIPAL NON-CASH CHARGES/(CREDITS) TOINCOME
Depreciation and amortization	554	497
Deferred income taxes	222	385
Rate case amortization and accruals	(38)	(135)
Net transmission and distribution reconciliation	0	(48)
Common equity component of allowance for funds used during construction	(8)	(5)
Other non-cash items (net)	(46)	36
CHANGES IN ASSETS AND LIABILITIES
Accounts receivable-customers, less allowance for uncollectibles	39	(11)
Materials and supplies, including fuel oil and gas in storage	99	(138)
Other receivables and other current assets	(49)	(228)
Prepayments	177	(694)
Recoverable energy costs	127	201
Accounts payable	(245)	(55)
Pensions and retiree benefits	(22)	(53)
Accrued taxes	(3)	161
Accrued interest	31	13
Deferred charges, noncurrent assets and other regulatory assets	2	(191)
Deferred credits and other regulatory liabilities	(90)	181
Other liabilities	(47)	(28)
NET CASH FLOWS FROMOPERATING ACTIVITIES	1,326	487
INVESTING ACTIVITIES
Utility construction expenditures	(1,454)	(1,532)
Cost of removal less salvage	(123)	(139)
Common equity component of allowance for funds used during construction	8	5
Loan to affiliate	113	55
NET CASH FLOWS USEDIN INVESTING ACTIVITIES	(1,456)	(1,611)
FINANCING ACTIVITIES
Net proceeds from/(payments of) short-term debt	174	(174)
Retirement of long-term debt	(275)	(280)
Issuance of long-term debt	750	1,200
Capital contribution by parent	0	751
Debt issuance costs	(5)	(10)
Common stock dividends	(489)	(436)
Preferred stock dividends	(8)	(9)
NET CASH FLOWS FROMFINANCING ACTIVITIES	147	1,042
CASH AND TEMPORARY CASH INVESTMENTS:
NET CHANGE FOR THE PERIOD	17	(82)
BALANCE AT BEGINNING OFPERIOD	37	121
BALANCE AT END OFPERIOD	54	39
Cash paid during the period for:
Interest	356	333
Income taxes	$17	($82)

Note A-Summary of Significant A

Note A-Summary of Significant Accounting Policies
	9 Months Ended Sep. 30, 2009
Notes to Financial Statements [Abstract]
Note A-Summary of Significant Accounting Policies	Note ASummary of Significant Accounting Policies Revenues The Utilities and Con Edison Solutions recognize revenues for electric, gas and steam service on a monthly billing cycle basis. The Utilities defer over a 12-month period net interruptible gas revenues, other than those authorized by the New York State Public Service Commission (PSC) to be retained by the Utilities, for refund to firm gas sales and transportation customers. OR and Con Edison Solutions accrue revenues at the end of each month for estimated energy service not yet billed to customers. Prior to March31, 2009, Con Edison of New York did not accrue revenues for estimated energy service not yet billed to customers except for certain unbilled gas revenues accrued in 1989. Effective March31, 2009, the PSC authorized Con Edison of New York to accrue unbilled electric, gas and steam revenues. The adoption of this accounting for unbilled revenues had no effect on net income. See Note A to the financial statements in Part I, Item1 of the First Quarter Form 10-Q. Unbilled revenues included in Con Edisons balance sheet at September30, 2009 and December31, 2008 were $494 million (including $347 million for Con Edison of New York) and $131 million, respectively. Earnings Per Common Share Reference is made to Earnings Per Common Share in Note A to the financial statements included in Item8 of the Form 10-K. For the three and nine months ended September30, 2009 and 2008, Con Edisons basic and diluted EPS are calculated as follows: FortheThreeMonths EndedSeptember30, FortheNineMonths EndedSeptember30, (Millions of Dollars, except per share amounts/Shares in Millions) 2009 2008 2009 2008 Income for common stock from continuing operations $ 336 $ 182 $ 666 $ 762 Income for common stock from discontinued operations, net of tax 274 Net income for common stock $ 336 $ 182 $ 666 $ 1,036 Weighted average common shares outstandingBasic 275.1 273.2 274.5 272.7 Add: Incremental shares attributable to effect of potentially dilutive securities 0.9 0.6 0.9 0.6 Adjusted weighted average common shares outstandingDiluted 276.0 273.8 275.4 273.3 EARNINGS PER COMMON SHAREBASIC Continuing operations $ 1.22 $ 0.66 $ 2.43 $ 2.79 Discontinued operations 1.01 Net income for common stock $ 1.22 $ 0.66 $ 2.43 $ 3.80 EARNINGS PER COMMON SHAREDILUTED Continuing operations $ 1.22 $ 0.66 $ 2.42 $ 2.79 Discontinued operations 1.00 Net income for common stock $ 1.22 $ 0.66 $ 2.42 $ 3.79

Note B-Regulatory Matters

Note B-Regulatory Matters
	9 Months Ended Sep. 30, 2009
Notes to Financial Statements [Abstract]
Note B-Regulatory Matters	Note BRegulatory Matters Reference is made to Accounting Policies in Note A and Rate Agreements in Note B to the financial statements included in Item8 of the Form 10-K and Note B to the financial statements in Part I, Item1 of the First and Second Quarter Forms 10-Q. Rate Agreements Con Edison of New YorkElectric For information about Con Edison of New Yorks May 2009 electric rate filing, see Rate AgreementsCon Edison of New YorkElectric in Note B to the financial statements in Part I, Item1 of the Second Quarter Form 10-Q. In August 2009, the PSC staff submitted testimony supporting an April 2010 electric rate increase of $477 million and, for a three-year rate plan, increases for the rate years beginning April 2011 and 2012 in amounts to be determined to reflect capital expenditures (capped at a level to be set by the PSC), pension and other postretirement benefit costs, and property taxes. In October 2009, the company and PSC staff advised the PSCs administrative law judges for this rate proceeding that there is a high probability of producing ajoint proposalthat the company and the PSC staff would sign andother parties to the proceeding wouldsign, support or not oppose. Consistent with PSC rules, negotiations for a joint proposal are confidential. There is no assurance that there will be a joint proposal, and anyjoint proposal would be subject to the approval of the PSC. The PSCs April 2009 order covering Con Edison of New Yorks electric rates, among other things, provided for the continuation of the collection of a portion (increased, to reflect higher capital costs, from $237 million collected in the rate year ended March 2009 to $254 million for the rate year ending March 2010) of the April 2008 rate increase subject to potential refund to customers following further PSC review and completion of an investigation by the PSC staff of the $1.6 billion of capital expenditures during the April 2005 through March 2008 period covered by the 2005 electric rate agreement for transmission and distribution utility plant that were above the amounts of such expenditures reflected in rates. The portion collected would also be subject to refund in the event the PSC determined that some disallowance of costs the company has recovered is warranted to address potential impacts of alleged unlawful conduct by arrested employees and contractors (see Investigation of Contractor Payments in Note H). The company is unable to estimate the amount, if any, of any refund that might be required and, accordingly, has not established a regulatory liability for a refund. ORElectric In August 2009, Rockland Electric Company (RECO) filed a request with the New Jersey Board of Public Utilities (NJBPU) for a net increase in the rates it charges for electric service, effective May15, 2010, of $9.8 million. The filing reflects a return on common equity of 11.0 percent and a common equity ratio of 53.6 percent. The filing proposes the continuation of the current provisions with respect to recovery from customers of the cost of purchased power and proposes a reconciliation of actual expenses to amounts reflected in electric rates for pension and other

Note C-Long-Term Debt

Note C-Long-Term Debt
	9 Months Ended Sep. 30, 2009
Notes to Financial Statements [Abstract]
Note C-Long-Term Debt	Note CLong-Term Debt Reference is made to Note C to the financial statements in Item8 of the Form 10-K and Note C to the financial statements in Part I, Item1 of the First and Second Quarter Forms 10-Q.

Note D-Short-Term Borrowing

Note D-Short-Term Borrowing
	9 Months Ended Sep. 30, 2009
Notes to Financial Statements [Abstract]
Note D-Short-Term Borrowing	Note DShort-Term Borrowing Reference is made to Note D to the financial statements in Item8 of the Form 10-K and Note D to the financial statements in Part I, Item1 of the First and Second Quarter Forms 10-Q. At September30, 2009, Con Edison had $509 million of commercial paper outstanding, $427 million of which was outstanding under Con Edison of New Yorks program. The weighted average interest rate was 0.3 percent for each of Con Edison and Con Edison of New York. At December31, 2008, Con Edison had $363 million of commercial paper outstanding of which $253 million was outstanding under Con Edison of New Yorks program. The weighted average interest rate was 2.4 percent and 3.2 percent for Con Edison and Con Edison of New York, respectively. At September30, 2009 and December31, 2008, no loans were outstanding under the Companies credit agreements and $231 million (including $111 million for Con Edison of New York) and $316 million (including $107 million for Con Edison of New York) of letters of credit were outstanding, respectively.

Note E-Pension Benefits

Note E-Pension Benefits
	9 Months Ended Sep. 30, 2009
Notes to Financial Statements [Abstract]
Note E-Pension Benefits	Note EPension Benefits Reference is made to Note E to the financial statements in Item8 of the Form 10-K and Note E to the financial statements in Part I, Item1 of the First and Second Quarter Forms 10-Q. Net Periodic Benefit Cost The components of the Companies net periodic benefit costs for the three and nine months ended September30, 2009 and 2008 were as follows: For the Three Months Ended September30, Con Edison Con Edison of NewYork (Millions of Dollars) 2009 2008 2009 2008 Service costincluding administrative expenses $ 40 $ 35 $ 37 $ 33 Interest cost on projected benefit obligation 131 128 123 123 Expected return on plan assets (173 ) (172 ) (165 ) (169 ) Amortization of net actuarial loss 75 48 68 44 Amortization of prior service costs 2 2 2 1 NET PERIODIC BENEFIT COST $ 75 $ 41 $ 65 $ 32 Amortization of regulatory asset* 1 1 1 1 TOTAL PERIODIC BENEFIT COST $ 76 $ 42 $ 66 $ 33 Cost capitalized (28 ) (15 ) (25 ) (13 ) Cost deferred (4 ) (8 ) (3 ) (7 ) Cost charged to operating expenses $ 44 $ 19 $ 38 $ 13 * Relates to increases in Con Edison of New Yorks pension obligations of $45 million from a 1999 special retirement program. FortheNineMonthsEndedSeptember30, Con Edison Con Edison of NewYork (Millions of Dollars) 2009 2008 2009 2008 Service costincluding administrative expenses $ 120 $ 104 $ 111 $ 97 Interest cost on projected benefit obligation 393 386 369 364 Expected return on plan assets (519 ) (518 ) (495 ) (499 ) Amortization of net actuarial loss 225 144 204 129 Amortization of prior service costs 6 6 6 5 NET PERIODIC BENEFIT COST $ 225 $ 122 $ 195 $ 96 Amortization of regulatory asset* 3 3 3 3 TOTAL PERIODIC BENEFIT COST $ 228 $ 125 $ 198 $ 99 Cost capitalized (82 ) (43 ) (75 ) (36 ) Cost deferred (40 ) (33 ) (34 ) (35 ) Cost charged to operating expenses $ 106 $ 49 $ 89 $ 28 * Relates to increases in Con Edison of New Yorks pension obligations of $33 million from a 1993 special retirement program and $45 million from a 1999 special retirement program. Expected Contributions The Companies are not required under funding regulations and laws to make any contributions to the pension plan during 2009, however, the Companies policy is to fund their accounting cost to the extent tax deductible. During the first nine months of 2009, Con Edison and Con Edison of NewYork contributed $282 million and $244 million, respectively, to the pension plan. Con Edison of NewYork expects to make discretionary contributions of $6 m

Note F-Other Postretirement Ben

Note F-Other Postretirement Benefits
	9 Months Ended Sep. 30, 2009
Notes to Financial Statements [Abstract]
Note F-Other Postretirement Benefits	Note FOther Postretirement Benefits Reference is made to Note F to the financial statements in Item8 of the Form 10-K and Note F to the financial statements in Part I, Item1 of the First and Second Quarter Forms 10-Q. Net Periodic Benefit Cost The components of the Companies net periodic postretirement benefit costs for the three and nine months ended September30, 2009 and 2008 were as follows: FortheThreeMonthsEndedSeptember30, Con Edison Con Edison of NewYork (Millions of Dollars) 2009 2008 2009 2008 Service cost $ 5 $ 5 $ 4 $ 3 Interest cost on accumulated other postretirement benefit obligation 24 24 21 21 Expected return on plan assets (21 ) (22 ) (20 ) (18 ) Amortization of net actuarial loss 18 17 16 15 Amortization of prior service cost (3 ) (3 ) (3 ) (4 ) Amortization of transition obligation 1 1 1 1 NET PERIODIC POSTRETIREMENT BENEFIT COST $ 24 $ 22 $ 19 $ 18 Cost capitalized (9 ) (8 ) (7 ) (7 ) Cost deferred 1 (1 ) Cost charged to operating expenses $ 16 $ 14 $ 12 $ 10 FortheNineMonthsEndedSeptember30, Con Edison Con Edison of New York (Millions of Dollars) 2009 2008 2009 2008 Service cost $ 15 $ 15 $ 12 $ 11 Interest cost on accumulated other postretirement benefit obligation 72 71 63 63 Expected return on plan assets (63 ) (65 ) (60 ) (57 ) Amortization of net actuarial loss 54 51 48 44 Amortization of prior service cost (9 ) (9 ) (9 ) (11 ) Amortization of transition obligation 3 3 3 3 NET PERIODIC POSTRETIREMENT BENEFIT COST $ 72 $ 66 $ 57 $ 53 Cost capitalized (27 ) (23 ) (22 ) (19 ) Cost deferred (11 ) (2 ) (10 ) Cost charged to operating expenses $ 45 $ 32 $ 33 $ 24

Note G-Environmental Matters

Note G-Environmental Matters
	9 Months Ended Sep. 30, 2009
Notes to Financial Statements [Abstract]
Note G-Environmental Matters	Note GEnvironmental Matters Superfund Sites Hazardous substances, such as asbestos, polychlorinated biphenyls (PCBs) and coal tar, have been used or generated in the course of operations of the Utilities and their predecessors and are present at sites and in facilities and equipment they currently or previously owned, including sites at which gas was manufactured or stored. The Federal Comprehensive Environmental Response, Compensation and Liability Act of 1980 and similar state statutes (Superfund) impose joint and several liability, regardless of fault, upon generators of hazardous substances for investigation and remediation costs (which include costs of demolition, removal, disposal, storage, replacement, containment, and monitoring) and environmental damages. Liability under these laws can be material and may be imposed for contamination from past acts, even though such past acts may have been lawful at the time they occurred. The sites at which the Utilities have been asserted to have liability under these laws, including their manufactured gas plant sites and any neighboring areas to which contamination may have migrated, are referred to herein as Superfund Sites. For Superfund Sites where there are other potentially responsible parties and the Utilities are not managing the site investigation and remediation, the accrued liability represents an estimate of the amount the Utilities will need to pay to discharge their related obligations. For Superfund Sites (including the manufactured gas plant sites) for which one of the Utilities is managing the investigation and remediation, the accrued liability represents an estimate of the companys share of undiscounted cost to investigate the sites and, for sites that have been investigated in whole or in part, the cost to remediate the sites. Remediation costs are estimated in light of the information available, applicable remediation standards, and experience with similar sites. The accrued liabilities and regulatory assets related to Superfund Sites at September30, 2009 and December31, 2008 were as follows: Con Edison Con Edison of New York (Millions of Dollars) 2009 2008 2009 2008 Accrued Liabilities: Manufactured gas plant sites $ 177 $ 207 $ 126 $ 155 Other Superfund Sites 48 43 46 41 Total $ 225 $ 250 $ 172 $ 196 Regulatory assets $ 391 $ 378 $ 333 $ 315 Most of the accrued Superfund Site liability relates to sites that have been investigated, in whole or in part. As investigations progress on these and other sites, the Utilities expect that additional liability will be accrued, the amount of which is not presently determinable but may be material. Under their current rate agreements, the Utilities are permitted to recover or defer as regulatory assets (for subsequent recovery through rates) certain site investigation and remediation costs. Environmental remediation costs incurred related to Superfund Sites during the three and nine months ended September30, 2009 and 2008 were as follows:

Note H-Other Material Contingen

Note H-Other Material Contingencies
	9 Months Ended Sep. 30, 2009
Notes to Financial Statements [Abstract]
Note H-Other Material Contingencies	Note HOther Material Contingencies Manhattan Steam Main Rupture In July 2007, a Con Edison of New York steam main located in midtown Manhattan ruptured. It has been reported that one person died and others were injured as a result of the incident. Several buildings in the area were damaged. Debris from the incident included dirt and mud containing asbestos. The response to the incident required the closing of several buildings and streets for various periods. Approximately 100 suits are pending against the company seeking generally unspecified compensatory and, in some cases, punitive damages, for personal injury, property damage and business interruption. The company has not accrued a liability for the suits. The company has notified its insurers of the incident and believes that the policies in force at the time of the incident will cover most of the companys costs, which the company is unable to estimate, but which could be substantial, to satisfy its liability to others in connection with the incident. Investigation of Contractor Payments In January 2009, Con Edison of New York commenced an internal investigation relating to the arrests of certain employees and retired employees (most of whom have since been indicted or pleaded guilty) for accepting kickbacks from contractors that performed construction work for the company. The company has retained a law firm, which has retained an accounting firm, to assist in the companys investigation. The company is providing information to governmental authorities, which consider the company to be a victim of unlawful conduct, in connection with their investigation of the arrested employees and contractors. The company has terminated its employment of the arrested employees and its contracts with the contractors. In February 2009, the PSC commenced a proceeding that, among other things, will examine the prudence of certain of the companys expenditures relating to the arrests and consider whether additional expenditures should also be examined (see Note B). The company, based upon its evaluation of its internal controls for 2008 and previous years, believes that the controls were effective to provide reasonable assurance that its financial statements have been fairly presented, in all material respects, in conformity with generally accepted accounting principles. Because the companys investigation is ongoing, the company is unable to predict the impact of any of the employees unlawful conduct on the companys internal controls, business, results of operations or financial position. Permit Non-Compliance and Pollution Discharges In March 2009, the New York State Department of Environmental Conservation (DEC) issued a proposed Administrative Order on Consent to Con Edison of New York with respect to non-compliance with certain laws, regulations and permit conditions and discharges of pollutants at the companys steam generating facilities. The proposed order effectively institutes a civil enforcement proceeding against the company. In the proposed order, the DEC is seeking, among other things, the companys agreement to pay a penalty in an amount the DEC has not yet specified, retain an i

Note I-Income Tax

Note I-Income Tax
	9 Months Ended Sep. 30, 2009
Notes to Financial Statements [Abstract]
Note I-Income Tax	Note IIncome Tax Reference is made to Note L to the financial statements in Item8 of the Form 10-K. In June 2009, Con Edison entered into partial agreements with the IRS to resolve its outstanding issues with the Companies federal income tax returns for 1998 through 2004, other than the tax treatment of Con Edison Developments LILO transactions (see Lease in/Lease Out Transactions in Note H). The partial agreements incorporate the July 2008 closing agreement between Con Edison and the IRS covering the Companies use of the simplified service cost method (SSCM) to deduct construction-related costs in 2002, 2003 and 2004. The partial agreements resulted in tax deficiencies of $78 million for tax years 1998, 2000 and 2002, and tax refunds of $39 million for 1999, 2001 and 2003. The partial agreement for 2004 resulted in an increased net operating loss deduction of $19 million, which is being carried forward to the Companies 2005 federal income tax return. In August 2009, the IRS billed the Companies $109 million ($78 million for the tax liabilities, as provided in the partial agreements, and $31 million for related interest) for 1998, 2000 and 2002. In September 2009, the Companies paid the bills by applying $109 million of a $160 million deposit the Companies made with the IRS in June 2007. At September30, 2009, the Companies estimated refunds receivable from the IRS for 1999, 2001 and 2003 ($39 million for Con Edison and Con Edison of New York) and the amount of the Companies remaining funds on deposit with the IRS ($51 million for Con Edison and $47 million for Con Edison of New York) were classified as current assets on their respective consolidated balance sheets. At September30, 2009, the Companies estimated liabilities for uncertain tax positions ($99 million for Con Edison and $89 million for Con Edison of New York) were classified as current liabilities on their respective consolidated balance sheets. The Companies reasonably expect to resolve these uncertain tax positions with the IRS in the next 12 months.

Note J-Financial Information by

Note J-Financial Information by Business Segment
	9 Months Ended Sep. 30, 2009
Notes to Financial Statements [Abstract]
Note J-Financial Information by Business Segment	Note JFinancial Information by Business Segment Reference is made to Note N to the financial statements in Item8 of the Form 10-K. The financial data for the business segments are as follows: For the Three Months Ended September30, Operating revenues Inter-segment revenues Depreciationand amortization Operating income (Millions of Dollars) 2009 2008 2009 2008 2009 2008 2009 2008 Con Edison of New York Electric $ 2,395 $ 2,670 $ 3 $ 3 $ 149 $ 133 $ 433 $ 369 Gas 183 242 1 2 24 23 (11 ) 8 Steam 77 111 18 18 15 16 (5 ) (3 ) Consolidation adjustments (22 ) (23 ) Total Con Edison of New York $ 2,655 $ 3,023 $ $ $ 188 $ 172 $ 417 $ 374 OR Electric $ 209 $ 252 $ $ $ 7 $ 7 $ 26 $ 26 Gas 26 31 3 3 (2 ) (2 ) Total OR $ 235 $ 283 $ $ $ 10 $ 10 $ 24 $ 24 Competitive energy businesses $ 610 $ 551 $ 2 $ 12 $ 2 $ 1 $ 43 $ (87 ) Other* (11 ) 1 (2 ) (12 ) Total Con Edison $ 3,489 $ 3,858 $ $ $ 200 $ 183 $ 484 $ 311 * Parent company expenses, primarily interest, and consolidation adjustments. Other does not represent a business segment. For the Nine Months Ended September30, Operating revenues Inter-segment revenues Depreciationand amortization Operating income (Millions of Dollars) 2009 2008 2009 2008 2009 2008 2009 2008 Con Edison of New York Electric $ 5,865 $ 6,162 $ 9 $ 9 $ 437 $ 383 $ 787 $ 735 Gas 1,259 1,366 4 4 73 67 158 153 Steam 521 529 54 56 44 47 70 57 Consolidation adjustments (67 ) (69 ) Total Con Edison of New York $ 7,645 $ 8,057 $ $ $ 554 $ 497 $ 1,015 $ 945 OR Electric $ 499 $ 590 $ $ $ 22 $ 21 $ 40 $ 42 Gas 171 179 9 9 13 12 Total OR $ 670 $ 769 $ $ $ 31 $ 30 $ 53 $ 54 Competitive energy businesses* $ 1,477 $ 1,749 $ (1 ) $ 16 $ 4 $ 4 $ 31 $ 110 Other** (34 ) 9 1 (16 ) (1 ) Total Con Edison

Note K-Derivative Instruments a

Note K-Derivative Instruments and Hedging Activities
	9 Months Ended Sep. 30, 2009
Notes to Financial Statements [Abstract]
Note K-Derivative Instruments and Hedging Activities	Note KDerivative Instruments and Hedging Activities Under the accounting rules for derivatives and hedging, derivatives are recognized on the balance sheet at fair value, unless an exception is available under the accounting rules. Certain qualifying derivative contracts have been designated as normal purchases or normal sales contracts. These contracts are not reported at fair value under the accounting rules. The accounting rules for derivatives and hedging were expanded in 2009 to require the Companies to provide users of financial statements with enhanced disclosures about (a)how and why an entity uses derivative instruments, (b)how derivative instruments and related hedged items are accounted for under the accounting rules, and (c)how derivative instruments and related hedged items affect an entitys financial position, financial performance, and cash flows. The accounting rules require qualitative disclosures about objectives and strategies for using derivatives, quantitative disclosures about fair value amounts of and gains and losses on derivative instruments and disclosures about credit-risk-related contingent features in derivative agreements. Energy Price Hedging Con Edisons subsidiaries hedge market price fluctuations associated with physical purchases and sales of electricity, natural gas, and steam by using derivative instruments including futures, forwards, basis swaps, options, transmission congestion contracts and financial transmission rights contracts. The fair values of these derivative instruments at September30, 2009 and December31, 2008 were as follows: Con Edison ConEdisonof NewYork (Millions of Dollars) 2009 2008 2009 2008 Fair value of net derivative assets/(liabilities)gross $ (256 ) $ (428 ) $ (89 ) $ (259 ) Impact of netting of cash collateral 229 322 113 224 Fair value of net derivative assets/(liabilities)net $ (27 ) $ (106 ) $ 24 $ (35 ) Credit Exposure The Companies are exposed to credit risk related to transactions entered into primarily for the various energy supply and hedging activities by the Utilities and the competitive energy businesses. The Companies use credit policies to manage this risk, including an established credit approval process, monitoring of counterparty limits, netting provisions within agreements, collateral or prepayment arrangements, credit insurance and credit default swaps. At September30, 2009, Con Edison and Con Edison of New York had $242 million and $43 million of credit exposure in connection with energy supply and hedging activities, net of collateral, respectively. Con Edisons net credit exposure consisted of $156 million with investment-grade counterparties and $86 million with commodity exchange brokers or independent system operators. Con Edison of New Yorks net credit exposure consisted of $3 million with investment-grade counterparties and $40 million with commodity exchange brokers. Economic Hedges The Companies enter into derivative instruments that do not qualify or are not designated as hedges under t

Note L-Fair Value Measurements

Note L-Fair Value Measurements
	9 Months Ended Sep. 30, 2009
Notes to Financial Statements [Abstract]
Note L-Fair Value Measurements	Note LFair Value Measurements Reference is made to Note P to the financial statements in Item8 of the Form 10-K and Note K to the financial statements in Part I, Item1 of the First and Second Quarter Forms 10-Q. The accounting rules for fair value measurements and disclosures defines fair value, establishes a framework for measuring fair value and expands the disclosures about fair value measurements. Assets and liabilities measured at fair value on a recurring basis as of September30, 2009 are summarized below under the three-level hierarchy established by the accounting rules for fair value measurements and disclosures. The accounting rules define the levels within the hierarchy as follows: Level 1Consists of assets or liabilities whose value is based on unadjusted quoted prices in active markets at the measurement date. Level 2Consists of assets or liabilities valued using industry standard models and based on prices, other than quoted prices within Level 1, that are either directly or indirectly observable as of the measurement date. Level 3Consists of assets or liabilities whose fair value is estimated based on internally developed models or methodologies using inputs that are generally less readily observable and supported by little, if any, market activity at the measurement date. Assets and liabilities measured at fair value on a recurring basis as of September30, 2009 are summarized below: Level 1 Level 2 Level 3 Netting Adjustments(4) Total (Millions of Dollars) Con Edison Con Edison of New York Con Edison Con Edison of New York Con Edison Con Edison of New York Con Edison Con Edison of New York Con Edison Con Edison of New York Derivative assets: Energy(1) $ 3 $ 2 $ 144 $ 36 $ 282 $ 35 $ (181 ) $ 41 $ 248 $ 114 Other assets(3) 29 29 88 79 117 108 Total $ 32 $ 31 $ 144 $ 36 $ 370 $ 114 $ (181 ) $ 41 $ 365 $ 222 Derivative liabilities: Energy(1) $ 9 $ 9 $ 337 $ 138 $ 339 $ 15 $ (410 ) $ (72 ) $ 275 $ 90 Financial other(2) 12 12 Total $ 9 $ 9 $ 337 $ 138 $ 351 $ 15 $ (410 ) $ (72 ) $ 287 $ 90 (1) A significant portion of the energy derivative contracts categorized in Level 3 is valued using eitheran industry acceptable model or an internally developed model with observable inputs. The models also include someless readily observable inputsresulting in the classification of the entire contract as Level 3. See Note K. (2) Includes an interest rate swap. See Note K. (3) Other assets are comprised of assets such as life insurance contracts within the Deferred Income Plan and Supplemental Retirement Income Plans, held in rabbi trusts. (4) Amounts represent the impact of lega

Note M-New Financial Accounting

Note M-New Financial Accounting Standards
	9 Months Ended Sep. 30, 2009
Notes to Financial Statements [Abstract]
Note M-New Financial Accounting Standards	Note MNew Financial Accounting Standards Reference is made to Note T to the financial statements in Item8 of the Form 10-K and Note L to the financial statements in Part I, Item1 of the First and Second Quarter Forms 10-Q. In August 2009, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No.2009-05, Fair Value Measurements and Disclosures (Topic 820)Measuring Liabilities at Fair Value. The Update addresses valuation techniques for circumstances in which a quoted price in an active market for the identical liability is not available. The Update requires companies to measure fair value using valuation techniques provided within the Update or those consistent with Topic 820. The Update is effective for the first interim or annual reporting period beginning after the Updates issuance. The Companies currently record certain derivative liabilities at fair value using valuation techniques consistent with Topic 820. The adoption of this Update is not expected to have a material impact on the Companies financial position, results of operations or liquidity.

Note N-Con Edison Development

Note N-Con Edison Development
	9 Months Ended Sep. 30, 2009
Notes to Financial Statements [Abstract]
Note N-Con Edison Development	Note NCon Edison Development Reference is made to Note V to the financial statements in Item8 of the Form 10-K and Note M to the financial statements in Part I, Item1 of the Second Quarter Form 10-Q.

Document Information

Document Information
	9 Months Ended Sep. 30, 2009
Document Information [Text Block]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	2009-09-30

Entity Information

Entity Information (USD $)
	9 Months Ended Sep. 30, 2009	Oct. 29, 2009
Entity [Text Block]
Trading Symbol	ED
Entity Registrant Name	CONSOLIDATED EDISON INC
Entity Central Index Key	0001047862
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		275,491,885
CONSOLIDATED EDISON CO OF NEW YORK INC
Entity [Text Block]
Entity Registrant Name	CONSOLIDATED EDISON CO OF NEW YORK INC
Entity Central Index Key	0000023632
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer