Consolidated Edison : 2022 Con Edison Rate Case Electric and Gas Filing Information Sheet - January 28, 2022

Summary Information Sheet for CECONY January 28, 2022 Electric & Gas Rate Filing

Electric and Gas Rate Filing - One Year (2023) Proposal; Other Years (2024 and 2025) Illustrated*

		Electric			Gas
($ millions)	Rate	Average	Capital	Rate	Average	Capital
	Change	Rate Base	Expenditure	Change	Rate Base	Expenditure
2023	$1,199	$26,286	$3,472	$503	$10,030	$1,170
2024	853	28,983	3,685	234	10,982	1,186
2025	608	30,618	3,771	218	11,884	1,143

*2023 amounts were proposed. CECONY provided 2024 and 2025 amounts in rate filing for illustration and to facilitate settlement discussions.

Key Drivers of Proposed 2023 Rate Increase ($ millions)

		Electric	Gas
Proposed Rate of Return and Equity Ratio	New infrastructure investment	$250	$161
Financing costs	201	77
Return on equity .....................................10.00%
Property and other taxes	180	74
Equity ratio………….………………………50%
Sales revenue change	259	77
	Amortization of deferred credits and costs	191	(1)
Test Year	Operating expenses	79	32
 Historic test year: Twelve months ended	Depreciation changes	15	64
September 30, 2021	Income Taxes and Other	24	19
 Rate year: January 1, 2023 - December
Total	$1,199	$503
31, 2023

• New rates proposed to be effective January 1, 2023

Other Major Provisions: Proposed

• Deferral as a regulatory liability of the revenue requirement impact of the amount, if any, by which actual average net plant balances for categories of plant are less than amounts reflected in rates for the respective category. Proposed modifications to this true-up include the full reconciliation of capital interference costs.
• True up of costs of pension and OPEBs, environmental remediation, and storms (electric).
• Requesting full reconciliation of property taxes, municipal infrastructure support costs, uncollectibles, late payment fees, and long-term debt cost rate.
• Requesting reconciliation for inflation to the extent that actual inflation exceeds the annual inflation rates of 3.4% assumed in the revenue requirement by 1.6% threshold.
• Requesting to reduce certain gas asset service lives by 5 years in alignment with the gas transition that is expected to result from CLCPA implementation.
• Continuing the revenue decoupling mechanism for electric and gas service.
• Continuing provision for recovery of cost of purchased power, gas, and fuel.
• Continuation of earnings opportunities from Earnings Adjustment Mechanisms (EAM) for meeting energy efficiency goals and other potential incentives.

Copies of the January 28, 2022 rate filing are available at

Rate Plan Informationor from Con Edison Investor

Relations:

Jan Childress: 212-460-6611 or [e-mail]

Kiley Kemelman: 212-460-6562 or [e-mail]

Jared Lee: 212-460-3923 or [e-mail]