ED · 10-Q · 2026Q2 · Full report

Operating Expense Trends

CONSOLIDATED EDISON INC · 2026-08-06 · Importance 18 · Surprise 14 · No source text

Total other operations and maintenance expense decreased $10 million, or 1.1%, to $913 million in the second quarter and decreased $24 million, or 1.3%, to $1.851 billion for the first six months. CECONY’s second-quarter O&M expense declined $12 million to $814 million, with operations expense increasing $24 million while pension and other postretirement benefit credits increased by $19 million. CECONY electric O&M decreased $26 million, primarily from $18 million lower pension and postretirement costs and $18 million lower customer-collected assessments and fees, partly offset by $8 million higher injury and damage costs and $6 million higher stock compensation. CECONY gas and steam O&M increased $8 million and $6 million, respectively, driven by injury and damage costs, stock compensation, health care, and steam maintenance activities.

Key facts

• Taxes other than income taxes for CECONY were $952 million for the three months ended June 30, 2026, with property taxes of $763 million and a total (including sales tax on customers’ bills) of $1,154 million in 2026.
• CECONY’s operations expense for the three months ended June 30, 2026 was $533 million compared with $509 million for the three months ended June 30, 2025.
• CECONY’s total other operations and maintenance for the three months ended June 30, 2026 was $814 million compared with $826 million for the 2025 period.
• Purchased power expenses increased $185 million in the three months ended June 30, 2026 compared with the 2025 period due to higher unit costs of $139 million and higher purchased volumes of $46 million.
• CECONY purchased power expenses increased $154 million in the six months ended June 30, 2026 compared with the 2025 period due to higher purchased volumes ($105 million) and higher unit costs ($49 million).
• Other income decreased $115 million in the six months ended June 30, 2026 compared with the 2025 period primarily due to lower credits associated with components of pension and other postretirement benefits other than service cost ($120 million), offset in part by an increase in AFUDC ($6 million).
• Other income decreased $60 million in the three months ended June 30, 2026 compared with the 2025 period primarily due to lower credits associated with components of pension and other postretirement benefits other than service cost.
• CECONY other operations and maintenance decreased $36 million in the six months ended June 30, 2026 compared with the 2025 period primarily due to lower costs for pension and other postretirement benefits reflecting reconciliation to the rate plan level ($35 million).

Impact estimates