New York Utility Co Consolidated Edison Reported 4Q 2017 Net Income of $505 Mil, Up 144% or Up $298 Mil Over the 4Q 2016 ....................................................................................... Con Ed Received a US Federal Income Tax Benefit of $259 Mil in the 4Q 2017 From the Puzzling, Very Lucrative US Federal Income Tax Debt Forgiveness Feature in the US Trump Tax Cuts Act ....................................................................................... This $259 Mil Income Tax Benefit Comprised 87% of Its 4Q 2017 Total Net Income Improvement of $298 Mil From the 4Q 2016 ...................................................................................... But on the Huge Downside to Con Ed's Utility Customers, They Are Really Getting Shafted in What In All Fairness Should Be Immediate Utility Customer Refunds (See Below)

Here's Con Ed's 10-K Footnote Disclosure Which Shows How New York Utility Customers Are Really Being Shafted By the New York "Rate Plans" For Billions of Dollars."

"In accordance with their New York rate plans and the accounting rules for regulated operations the change in deferred taxes was recorded as either an offset to a regulatory asset or a regulatory liability. See “Accounting Policies” in Note A and “Rate Plans” in Note B. For Con Edison’s other businesses, the change in deferred taxes was reflected as a decrease in income tax expense, which increased Con Edison's net income."

"Upon enactment of the TCJA, the Companies re-measured their deferred tax assets and liabilities based upon the TCJA’s 21 percent corporate federal income tax rate. As a result, Con Edison, decreased its net deferred tax liabilities by $5,312 million (including $4,781 million for CECONY), recognized $259 million in net income, decreased its regulatory asset for future income tax by $1,250 million (including $1,182 million for CECONY), decreased the regulatory asset for revenue taxes by $90 million (including $86 million for CECONY), and accrued a regulatory liability for future income tax of $3,713 million (including $3,513 million for CECONY). Since the Companies are in a net regulatory liability position with respect to these income tax matters, the Companies netted the regulatory asset for future income tax against the regulatory liability for future income tax. Under the rate normalization requirements continued by the TCJA, $2,684 million of the net regulatory liability (including $2,542 million for CECONY) related to certain accelerated tax depreciation benefits is to be amortized over the remaining lives of the related assets. The remainder of the net regulatory liability is to be refunded (or credited) to customers as determined by the NYSPSC or NJBPU, as applicable. See “Other Regulatory Matters” in Note B. The amount recognized in net income included $269 million for the Clean Energy Businesses, $11 million for Con Edison Transmission and $(21) million for the parent company."