v3.26.1
Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis
Assets and liabilities measured at fair value on a recurring basis as of June 30, 2026 and December 31, 2025 are summarized below.
 
  20262025
(Millions of Dollars)Level 1Level 2Level 3Netting
Adjustment (d)		TotalLevel 1Level 2Level 3Netting
Adjustment (d)		Total
Con Edison
Derivative assets:
Commodity (a)(b)(c)$16$444$10$(128)$342$19$292$5$(104)$212
Mutual Funds (a)(b)623———623606———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:
Commodity (a)(b)(c)$16$415$7$(123)$315$19$270$2$(100)$191
Mutual Funds (a)(b)608———608591———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
(a)The Companies’ policy is to review the fair value hierarchy and recognize transfers into and transfers out of the levels at the end of each reporting period. Transfers out of Level 3 represent assets and liabilities that were previously classified as Level 3 for which the inputs became observable for classification in Level 2. The inputs are now observable because of availability of observable market data due to the decrease in the terms of certain contracts from beyond three years to less than three years.
(b)Level 2 assets and liabilities include investments held in the deferred compensation plan and/or non-qualified retirement plans, exchange-traded contracts where there is insufficient market liquidity to warrant inclusion in Level 1, and certain over-the-counter derivative instruments for electricity, refined products and natural gas. Derivative instruments classified as Level 2 are valued using industry standard models that incorporate corroborated observable inputs, such as pricing services or prices from similar instruments that trade in liquid markets, time value and volatility factors.
(c)The accounting rules for fair value measurements and disclosures require consideration of the impact of nonperformance risk (including credit risk) from a market participant perspective in the measurement of the fair value of assets and liabilities. At June 30, 2026 and December 31, 2025, the Companies determined that nonperformance risk would have no material impact on their financial position or results of operations.
(d)Amounts represent the impact of legally-enforceable master netting agreements that allow the Companies to net gain and loss positions and cash collateral held or placed with the same counterparties.
Schedule of Commodity Derivatives
Fair Value of Level 3 at June 30, 2026Valuation
Techniques		Unobservable InputsRangeAverage
Market Price
(Millions of Dollars)
Con Edison – Commodity
Electricity$5Discounted Cash FlowForward energy prices ($/MWh) (a)
$40.10 - $131.20 per MWh
$67.02
Electricity(2)Discounted Cash FlowForward capacity prices ($/kW-month) (a)
$1.36 - $8.37 per kW-month
$4.22
Transmission Congestion Contracts1Discounted Cash FlowInter-zonal forward price curves adjusted for historical zonal losses ($/MWh)  (b)
$0.16 - $4.88 per MWh
$1.09
Total Con Edison—Commodity$4
CECONY – Commodity
Electricity$5Discounted Cash FlowForward energy prices ($/MWh)  (a)
$40.10 - $131.20 per MWh
$67.02
Electricity(2)Discounted Cash FlowForward capacity prices ($/kW-month) (a)
$1.36 - $8.37 per kW-month
$4.11
Transmission Congestion Contracts1Discounted Cash FlowInter-zonal forward price curves adjusted for historical zonal losses ($/MWh) (b)
$0.16 - $4.88 per MWh
$1.09
Total CECONY—Commodity$4
(a)Generally, increases (decreases) in this input in isolation would result in a higher (lower) fair value measurement.
(b)Generally, increases (decreases) in this input in isolation would result in a lower (higher) fair value measurement.
Schedule of Reconciliation of Beginning and Ending Net Balances for Assets and Liabilities Measured at Level 3 Fair Value
The table listed below provides a reconciliation of the beginning and ending net balances for assets and liabilities measured at fair value as of June 30, 2026 and 2025 and classified as Level 3 in the fair value hierarchy:
 
For the Three Months Ended June 30,
            Con Edison          CECONY
(Millions of Dollars)2026202520262025
Beginning balance as of April 1,$8$(13)$3$(5)
Included in earnings3(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 EdisonCECONY
(Millions of Dollars)2026202520262025
Beginning balance as of January 1,$(5)$(15)$(3)$(6)
Included in earnings—(3)——
Included in regulatory assets and liabilities10(1)8(2)
Settlements—2——
Transfer out of level 3(1)—(1)—
Ending balance as of June 30,$4$(17)$4$(8)