DOCUMENT_AND_ENTITY_INFORMATIO
DOCUMENT AND ENTITY INFORMATION (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Oct. 31, 2013 | |
Document And Entity [Line Items] | ' | ' |
Entity Registrant Name | 'NORTHEAST UTILITIES | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Type | '10-Q | ' |
Entity Central Index Key | '0000072741 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Common Stock, Shares Outstanding | ' | 315,094,075 |
Entity Public Float | $13,224,337,788 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'FY | ' |
Amendment Flag | 'false | ' |
The Connecticut Light And Power Company [Member] | ' | ' |
Document And Entity [Line Items] | ' | ' |
Entity Registrant Name | 'The Connecticut Light and Power Company | ' |
Entity Central Index Key | '0000023426 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Non-accelerated Filer | ' |
Public Service Company Of New Hampshire [Member] | ' | ' |
Document And Entity [Line Items] | ' | ' |
Entity Registrant Name | 'Public Service Company of New Hampshire | ' |
Entity Central Index Key | '0000315256 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Non-accelerated Filer | ' |
Western Massachusetts Electric Company [Member] | ' | ' |
Document And Entity [Line Items] | ' | ' |
Entity Registrant Name | 'Western Massachusetts Electric Company | ' |
Entity Central Index Key | '0000106170 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Non-accelerated Filer | ' |
NSTAR Electric Company [Member] | ' | ' |
Document And Entity [Line Items] | ' | ' |
Entity Registrant Name | 'NSTAR Electric Company | ' |
Entity Central Index Key | '0000013372 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Non-accelerated Filer | ' |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current Assets: | ' | ' |
Cash | $57,941 | $45,748 |
Receivables, Net | 784,498 | 792,822 |
Unbilled Revenues | 174,097 | 216,040 |
Fuel, Materials and Supplies | 304,698 | 267,713 |
Regulatory Assets Current | 474,198 | 705,025 |
Prepayments and Other Current Assets | 222,700 | 199,947 |
Total Current Assets | 2,018,132 | 2,227,295 |
Property, Plant and Equipment, Net | 17,187,896 | 16,605,010 |
Deferred Debits and Other Assets: | ' | ' |
Regulatory Assets Long Term | 4,882,381 | 5,132,411 |
Goodwill | 3,519,401 | 3,519,401 |
Marketable Securities | 468,094 | 400,329 |
Derivative Assets Noncurrent | 88,887 | 90,612 |
Other Long-Term Assets | 279,527 | 327,766 |
Total Deferred Debits and Other Assets | 9,238,290 | 9,470,519 |
Total Assets | 28,444,318 | 28,302,824 |
Current Liabilities: | ' | ' |
Notes Payable to Banks | 1,343,000 | 1,120,196 |
Long-Term Debt - Current Portion | 608,346 | 763,338 |
Accounts Payable - Current | 554,010 | 764,350 |
Regulatory Liability Current | 224,416 | 134,115 |
Other Liabilities - Current | 648,658 | 861,691 |
Total Current Liabilities | 3,378,430 | 3,643,690 |
Rate Reduction Bonds | 0 | 82,139 |
Deferred Credits and Other Liabilities: | ' | ' |
Accumulated Deferred Income Taxes | 3,954,246 | 3,463,347 |
Regulatory Liabilities Long-Term | 520,732 | 540,162 |
Long-Term Derivative Liabilities | 766,804 | 882,654 |
Accrued Pension, PBOP and SERP | 1,808,896 | 2,130,497 |
Other Long-Term Liabilities | 897,997 | 967,561 |
Total Deferred Credits and Other Liabilities | 7,948,675 | 7,984,221 |
Capitalization: | ' | ' |
Long-Term Debt | 7,444,192 | 7,200,156 |
Noncontrolling Interest in Consolidated Subsidiary: | ' | ' |
Temporary Equity, Carrying Amount, Attributable to Noncontrolling Interest | 155,568 | 155,568 |
Common Shareholders' Equity: | ' | ' |
Common Stock | 1,665,098 | 1,662,547 |
Capital Surplus, Paid In | 6,185,805 | 6,183,267 |
Retained Earnings | 2,064,401 | 1,802,714 |
Accumulated Other Comprehensive Loss | -67,387 | -72,854 |
Treasury Stock | -330,464 | -338,624 |
Common Shareholders' Equity | 9,517,453 | 9,237,050 |
Total Capitalization | 17,117,213 | 16,592,774 |
Total Liabilities and Capitalization | 28,444,318 | 28,302,824 |
The Connecticut Light And Power Company [Member] | ' | ' |
Current Assets: | ' | ' |
Cash | 15,253 | 1 |
Receivables, Net | 341,749 | 284,787 |
Accounts Receivable from Affiliated Companies | 1,733 | 6,641 |
Unbilled Revenues | 73,687 | 85,353 |
Regulatory Assets Current | 147,076 | 185,858 |
Materials and Supplies | 58,124 | 64,603 |
Prepayments and Other Current Assets | 61,277 | 26,413 |
Total Current Assets | 698,899 | 653,656 |
Property, Plant and Equipment, Net | 6,326,225 | 6,152,959 |
Deferred Debits and Other Assets: | ' | ' |
Regulatory Assets Long Term | 2,021,974 | 2,158,363 |
Derivative Assets Noncurrent | 88,018 | 90,612 |
Other Long-Term Assets | 91,499 | 86,498 |
Total Deferred Debits and Other Assets | 2,201,491 | 2,335,473 |
Total Assets | 9,226,615 | 9,142,088 |
Current Liabilities: | ' | ' |
Notes Payable To Affiliated Companies | 342,900 | 99,296 |
Long-Term Debt - Current Portion | 150,000 | 125,000 |
Accounts Payable - Current | 170,683 | 262,857 |
Accounts Payable to Affiliated Companies | 46,401 | 52,326 |
Obligations to Third Party Suppliers | 65,580 | 67,344 |
Accrued Taxes | 60,643 | 60,109 |
Regulatory Liability Current | 81,988 | 32,119 |
Derivative Liabilities - Current | 94,123 | 96,931 |
Other Liabilities - Current | 78,520 | 125,662 |
Total Current Liabilities | 1,090,838 | 921,644 |
Deferred Credits and Other Liabilities: | ' | ' |
Accumulated Deferred Income Taxes | 1,471,547 | 1,336,105 |
Regulatory Liabilities Long-Term | 107,964 | 124,319 |
Long-Term Derivative Liabilities | 756,437 | 865,571 |
Accrued Pension, PBOP and SERP | 291,257 | 304,696 |
Other Long-Term Liabilities | 160,368 | 197,434 |
Total Deferred Credits and Other Liabilities | 2,787,573 | 2,828,125 |
Capitalization: | ' | ' |
Long-Term Debt | 2,591,012 | 2,737,790 |
Noncontrolling Interest in Consolidated Subsidiary: | ' | ' |
Temporary Equity, Carrying Amount, Attributable to Noncontrolling Interest | 116,200 | 116,200 |
Common Shareholders' Equity: | ' | ' |
Common Stock | 60,352 | 60,352 |
Capital Surplus, Paid In | 1,641,487 | 1,640,149 |
Retained Earnings | 940,647 | 839,628 |
Accumulated Other Comprehensive Loss | -1,494 | -1,800 |
Common Shareholders' Equity | 2,640,992 | 2,538,329 |
Total Capitalization | 5,348,204 | 5,392,319 |
Total Liabilities and Capitalization | 9,226,615 | 9,142,088 |
NSTAR Electric Company [Member] | ' | ' |
Current Assets: | ' | ' |
Cash | 15,470 | 13,695 |
Receivables, Net | 263,055 | 202,025 |
Accounts Receivable from Affiliated Companies | 70,279 | 160,176 |
Unbilled Revenues | 48,570 | 41,377 |
Regulatory Assets Current | 189,754 | 347,081 |
Prepayments and Other Current Assets | 54,105 | 28,086 |
Total Current Assets | 641,233 | 792,440 |
Property, Plant and Equipment, Net | 4,923,410 | 4,735,297 |
Deferred Debits and Other Assets: | ' | ' |
Regulatory Assets Long Term | 1,538,222 | 1,444,870 |
Other Long-Term Assets | 59,267 | 87,382 |
Total Deferred Debits and Other Assets | 1,597,489 | 1,532,252 |
Total Assets | 7,162,132 | 7,059,989 |
Current Liabilities: | ' | ' |
Notes Payable to Banks | 156,000 | 276,000 |
Long-Term Debt - Current Portion | 301,650 | 1,650 |
Accounts Payable - Current | 157,375 | 168,611 |
Accounts Payable to Affiliated Companies | 97,992 | 247,061 |
Deferred Tax Liabilities Current | 32,049 | 104,668 |
Regulatory Liability Current | 82,521 | 47,539 |
Other Liabilities - Current | 128,846 | 144,433 |
Total Current Liabilities | 956,433 | 989,962 |
Rate Reduction Bonds | 0 | 43,493 |
Deferred Credits and Other Liabilities: | ' | ' |
Accumulated Deferred Income Taxes | 1,463,285 | 1,321,026 |
Regulatory Liabilities Long-Term | 251,005 | 244,224 |
Accrued Pension, PBOP and SERP | 380,688 | 360,932 |
Other Long-Term Liabilities | 145,032 | 183,190 |
DueToRelatedPartiesNoncurrent | 64,752 | 70,221 |
Total Deferred Credits and Other Liabilities | 2,304,762 | 2,179,593 |
Capitalization: | ' | ' |
Long-Term Debt | 1,499,378 | 1,600,911 |
Noncontrolling Interest in Consolidated Subsidiary: | ' | ' |
Temporary Equity, Carrying Amount, Attributable to Noncontrolling Interest | 43,000 | 43,000 |
Common Shareholders' Equity: | ' | ' |
Common Stock | 0 | 0 |
Capital Surplus, Paid In | 992,625 | 992,625 |
Retained Earnings | 1,365,934 | 1,210,405 |
Common Shareholders' Equity | 2,358,559 | 2,203,030 |
Total Capitalization | 3,900,937 | 3,846,941 |
Total Liabilities and Capitalization | 7,162,132 | 7,059,989 |
Public Service Company Of New Hampshire [Member] | ' | ' |
Current Assets: | ' | ' |
Cash | 5,604 | 2,493 |
Receivables, Net | 78,464 | 87,164 |
Accounts Receivable from Affiliated Companies | 1,182 | 723 |
Unbilled Revenues | 31,081 | 39,982 |
Taxes Receivable | 12,074 | 17,177 |
Fuel, Materials and Supplies | 125,801 | 95,345 |
Regulatory Assets Current | 67,716 | 62,882 |
Prepayments and Other Current Assets | 6,464 | 22,205 |
Total Current Assets | 328,386 | 327,971 |
Property, Plant and Equipment, Net | 2,409,039 | 2,352,515 |
Deferred Debits and Other Assets: | ' | ' |
Regulatory Assets Long Term | 301,368 | 351,059 |
Other Long-Term Assets | 55,953 | 83,052 |
Total Deferred Debits and Other Assets | 357,321 | 434,111 |
Total Assets | 3,094,746 | 3,114,597 |
Current Liabilities: | ' | ' |
Notes Payable To Affiliated Companies | 228,500 | 63,300 |
Long-Term Debt - Current Portion | 50,000 | ' |
Accounts Payable - Current | 60,814 | 62,864 |
Accounts Payable to Affiliated Companies | 18,279 | 21,337 |
Regulatory Liability Current | 23,394 | 23,002 |
Other Liabilities - Current | 54,315 | 50,950 |
Renewable Portfolio Standards Compliance Obligation | 6,701 | 17,383 |
Total Current Liabilities | 442,003 | 238,836 |
Rate Reduction Bonds | 0 | 29,294 |
Deferred Credits and Other Liabilities: | ' | ' |
Accumulated Deferred Income Taxes | 490,863 | 441,577 |
Regulatory Liabilities Long-Term | 52,867 | 52,418 |
Accrued Pension, PBOP and SERP | 104,557 | 220,129 |
Other Long-Term Liabilities | 43,866 | 47,896 |
Total Deferred Credits and Other Liabilities | 692,153 | 762,020 |
Capitalization: | ' | ' |
Long-Term Debt | 839,104 | 997,932 |
Common Shareholders' Equity: | ' | ' |
Common Stock | 0 | 0 |
Capital Surplus, Paid In | 701,659 | 701,052 |
Retained Earnings | 428,660 | 395,118 |
Accumulated Other Comprehensive Loss | -8,833 | -9,655 |
Common Shareholders' Equity | 1,121,486 | 1,086,515 |
Total Capitalization | 1,960,590 | 2,084,447 |
Total Liabilities and Capitalization | 3,094,746 | 3,114,597 |
Western Massachusetts Electric Company [Member] | ' | ' |
Current Assets: | ' | ' |
Cash | 3,157 | 1 |
Receivables, Net | 49,056 | 47,297 |
Accounts Receivable from Affiliated Companies | 29,231 | 164 |
Unbilled Revenues | 13,046 | 16,192 |
Taxes Receivable | 2 | 15,513 |
Regulatory Assets Current | 37,854 | 42,370 |
Marketable Securities - Current | 24,570 | 27,352 |
Prepayments and Other Current Assets | 10,195 | 7,963 |
Total Current Assets | 167,111 | 156,852 |
Property, Plant and Equipment, Net | 1,352,705 | 1,290,498 |
Deferred Debits and Other Assets: | ' | ' |
Regulatory Assets Long Term | 194,744 | 221,752 |
Marketable Securities | 33,195 | 30,342 |
Other Long-Term Assets | 20,246 | 23,625 |
Total Deferred Debits and Other Assets | 248,185 | 275,719 |
Total Assets | 1,768,001 | 1,723,069 |
Current Liabilities: | ' | ' |
Notes Payable To Affiliated Companies | 79,800 | 31,900 |
Long-Term Debt - Current Portion | 0 | 55,000 |
Accounts Payable - Current | 40,432 | 68,141 |
Accounts Payable to Affiliated Companies | 7,521 | 7,103 |
Deferred Tax Liabilities Current | 9,416 | 8,404 |
Regulatory Liability Current | 22,400 | 21,037 |
Other Liabilities - Current | 18,718 | 24,809 |
Total Current Liabilities | 178,287 | 216,394 |
Rate Reduction Bonds | 0 | 9,352 |
Deferred Credits and Other Liabilities: | ' | ' |
Accumulated Deferred Income Taxes | 392,360 | 303,111 |
Regulatory Liabilities Long-Term | 11,914 | 9,686 |
Accrued Pension, PBOP and SERP | 30,791 | 36,099 |
Other Long-Term Liabilities | 26,503 | 40,148 |
Total Deferred Credits and Other Liabilities | 461,568 | 389,044 |
Capitalization: | ' | ' |
Long-Term Debt | 549,617 | 550,270 |
Common Shareholders' Equity: | ' | ' |
Common Stock | 10,866 | 10,866 |
Capital Surplus, Paid In | 390,645 | 390,412 |
Retained Earnings | 180,618 | 160,577 |
Accumulated Other Comprehensive Loss | -3,600 | -3,846 |
Common Shareholders' Equity | 578,529 | 558,009 |
Total Capitalization | 1,128,146 | 1,108,279 |
Total Liabilities and Capitalization | $1,768,001 | $1,723,069 |
CONSOLIDATED_STATEMENTS_OF_INC
CONSOLIDATED STATEMENTS OF INCOME (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Operating Revenues | $1,892,590 | $1,861,529 | $5,523,475 | $4,589,835 |
Operating Expenses: | ' | ' | ' | ' |
Purchased Power and Transmission | 645,881 | 602,751 | 1,881,992 | 1,540,110 |
Operations and Maintenance | 386,700 | 395,531 | 1,089,960 | 1,187,471 |
Depreciation | 149,105 | 144,475 | 463,635 | 369,798 |
Amortization of Regulatory Assets/(Liabilities), Net | 70,046 | 43,835 | 178,668 | 74,851 |
Amortization of Rate Reduction Bonds | 0 | 43,044 | 42,581 | 102,144 |
Energy Efficiency Programs | 106,097 | 98,326 | 306,010 | 209,089 |
Taxes Other Than Income Taxes | 135,499 | 120,662 | 391,846 | 319,559 |
Total Operating Expenses | 1,493,328 | 1,448,624 | 4,354,692 | 3,803,022 |
Operating Income | 399,262 | 412,905 | 1,168,783 | 786,813 |
Interest Expense: | ' | ' | ' | ' |
Interest on Long-Term Debt | 84,911 | 86,459 | 256,205 | 233,352 |
Interest on Rate Reduction Bonds | 0 | 1,681 | 422 | 5,168 |
Other Interest | 2,565 | 2,221 | -6,044 | 7,336 |
Total Interest Expense | 87,476 | 90,361 | 250,583 | 245,856 |
Other Income/(Loss), Net | 8,945 | 4,324 | 21,655 | 14,904 |
Income Before Income Tax Expense | 320,731 | 326,868 | 939,855 | 555,861 |
Income Tax Expense | 109,351 | 117,360 | 325,442 | 199,379 |
Net Income | 211,380 | 209,508 | 614,413 | 356,482 |
Net Income Attributable to Noncontrolling Interests | 1,879 | 1,880 | 5,803 | 5,253 |
Net Income Attributable to Controlling Interests | 209,501 | 207,628 | 608,610 | 351,229 |
Diluted Earnings Per Common Share | $0.66 | $0.66 | $1.93 | $1.32 |
Basic Earnings Per Common Share | $0.66 | $0.66 | $1.93 | $1.33 |
Common Stock Dividends Per Share Declared | $0.37 | $0.34 | $1.10 | $0.97 |
Weighted Average Common Shares Outstanding: | ' | ' | ' | ' |
Basic | 315,291,346 | 314,806,441 | 315,191,752 | 264,636,636 |
Diluted | 316,218,239 | 315,805,796 | 316,061,131 | 265,353,377 |
The Connecticut Light And Power Company [Member] | ' | ' | ' | ' |
Operating Revenues | 648,420 | 658,111 | 1,841,846 | 1,812,218 |
Operating Expenses: | ' | ' | ' | ' |
Purchased Power and Transmission | 253,152 | 241,046 | 667,266 | 658,743 |
Operations and Maintenance | 127,104 | 141,913 | 359,759 | 480,286 |
Depreciation | 44,786 | 41,863 | 132,356 | 124,451 |
Amortization of Regulatory Assets/(Liabilities), Net | -27 | 8,656 | 11,223 | 19,912 |
Energy Efficiency Programs | 24,544 | 25,237 | 68,211 | 68,205 |
Taxes Other Than Income Taxes | 64,979 | 59,687 | 182,676 | 168,667 |
Total Operating Expenses | 514,538 | 518,402 | 1,421,491 | 1,520,264 |
Operating Income | 133,882 | 139,709 | 420,355 | 291,954 |
Interest Expense: | ' | ' | ' | ' |
Interest on Long-Term Debt | 32,845 | 31,429 | 98,163 | 94,646 |
Other Interest | 2,439 | 2,162 | 801 | 6,223 |
Total Interest Expense | 35,284 | 33,591 | 98,964 | 100,869 |
Other Income/(Loss), Net | 3,861 | 2,889 | 10,946 | 8,636 |
Income Before Income Tax Expense | 102,459 | 109,007 | 332,337 | 199,721 |
Income Tax Expense | 36,136 | 34,121 | 113,149 | 63,917 |
Net Income | 66,323 | 74,886 | 219,188 | 135,804 |
NSTAR Electric Company [Member] | ' | ' | ' | ' |
Operating Revenues | 753,879 | 693,653 | 1,916,557 | 1,784,755 |
Operating Expenses: | ' | ' | ' | ' |
Purchased Power and Transmission | 255,244 | 222,753 | 659,140 | 622,265 |
Operations and Maintenance | 97,069 | 83,329 | 277,261 | 340,547 |
Depreciation | 45,441 | 42,494 | 136,323 | 127,692 |
Amortization of Regulatory Assets/(Liabilities), Net | 72,740 | 41,888 | 173,289 | 87,912 |
Amortization of Rate Reduction Bonds | 0 | 22,581 | 15,054 | 67,742 |
Energy Efficiency Programs | 58,798 | 55,969 | 161,180 | 138,360 |
Taxes Other Than Income Taxes | 32,610 | 30,520 | 95,275 | 89,689 |
Total Operating Expenses | 561,902 | 499,534 | 1,517,522 | 1,474,207 |
Operating Income | 191,977 | 194,119 | 399,035 | 310,548 |
Interest Expense: | ' | ' | ' | ' |
Interest on Long-Term Debt | 19,860 | 22,386 | 59,261 | 66,953 |
Interest on Rate Reduction Bonds | 0 | 853 | 399 | 3,106 |
Other Interest | -1,324 | -4,704 | -8,011 | -16,137 |
Total Interest Expense | 18,536 | 18,535 | 51,649 | 53,922 |
Other Income/(Loss), Net | 2,126 | 551 | 3,275 | 1,778 |
Income Before Income Tax Expense | 175,567 | 176,135 | 350,661 | 258,404 |
Income Tax Expense | 68,558 | 69,373 | 137,499 | 102,220 |
Net Income | 107,009 | 106,762 | 213,162 | 156,184 |
Public Service Company Of New Hampshire [Member] | ' | ' | ' | ' |
Operating Revenues | 218,608 | 256,949 | 708,550 | 755,051 |
Operating Expenses: | ' | ' | ' | ' |
Purchased Power and Transmission | 46,668 | 76,008 | 197,765 | 239,173 |
Operations and Maintenance | 69,477 | 67,547 | 191,606 | 200,960 |
Depreciation | 22,919 | 22,264 | 68,433 | 65,282 |
Amortization of Regulatory Assets/(Liabilities), Net | 225 | -6,356 | -1,745 | -6,179 |
Amortization of Rate Reduction Bonds | 0 | 16,112 | 19,748 | 43,855 |
Energy Efficiency Programs | 3,990 | 4,030 | 11,036 | 10,824 |
Taxes Other Than Income Taxes | 18,706 | 16,046 | 52,640 | 47,406 |
Total Operating Expenses | 161,985 | 195,651 | 539,483 | 601,321 |
Operating Income | 56,623 | 61,298 | 169,067 | 153,730 |
Interest Expense: | ' | ' | ' | ' |
Interest on Long-Term Debt | 10,345 | 11,434 | 32,951 | 34,537 |
Interest on Rate Reduction Bonds | 0 | 564 | -154 | 2,366 |
Other Interest | 521 | 609 | 1,384 | 1,301 |
Total Interest Expense | 10,866 | 12,607 | 34,181 | 38,204 |
Other Income/(Loss), Net | 792 | -353 | 2,454 | 2,237 |
Income Before Income Tax Expense | 46,549 | 48,338 | 137,340 | 117,763 |
Income Tax Expense | 18,196 | 21,106 | 52,797 | 48,037 |
Net Income | 28,353 | 27,232 | 84,543 | 69,726 |
Western Massachusetts Electric Company [Member] | ' | ' | ' | ' |
Operating Revenues | 121,795 | 112,470 | 361,763 | 333,331 |
Operating Expenses: | ' | ' | ' | ' |
Purchased Power and Transmission | 38,797 | 32,028 | 111,095 | 105,297 |
Operations and Maintenance | 26,148 | 24,765 | 70,213 | 75,214 |
Depreciation | 9,426 | 7,464 | 27,707 | 22,154 |
Amortization of Regulatory Assets/(Liabilities), Net | -1,412 | 1,021 | -598 | 634 |
Amortization of Rate Reduction Bonds | 0 | 4,352 | 7,780 | 13,127 |
Energy Efficiency Programs | 12,222 | 9,190 | 28,462 | 19,679 |
Taxes Other Than Income Taxes | 7,696 | 5,505 | 20,188 | 15,365 |
Total Operating Expenses | 92,877 | 84,325 | 264,847 | 251,470 |
Operating Income | 28,918 | 28,145 | 96,916 | 81,861 |
Interest Expense: | ' | ' | ' | ' |
Interest on Long-Term Debt | 5,814 | 5,783 | 17,846 | 17,454 |
Interest on Rate Reduction Bonds | 0 | 272 | 177 | 1,029 |
Other Interest | 417 | 714 | 777 | 1,550 |
Total Interest Expense | 6,231 | 6,769 | 18,800 | 20,033 |
Other Income/(Loss), Net | 926 | 685 | 2,349 | 1,965 |
Income Before Income Tax Expense | 23,613 | 22,061 | 80,465 | 63,793 |
Income Tax Expense | 8,588 | 7,977 | 30,424 | 24,385 |
Net Income | $15,025 | $14,084 | $50,041 | $39,408 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Net Income | $211,380 | $209,508 | $614,413 | $356,482 |
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease Abstract | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 509 | 516 | 1,539 | 1,455 |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | -38 | 217 | -810 | 411 |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax | 1,611 | 1,445 | 4,738 | 4,611 |
Other Comprehensive Income (Loss), Net of Tax, Total | 2,082 | 2,178 | 5,467 | 6,477 |
Comprehensive Income Attributable to Noncontrolling Interests | -1,879 | -1,880 | -5,803 | -5,253 |
Comprehensive Income | 211,583 | 209,806 | 614,077 | 357,706 |
The Connecticut Light And Power Company [Member] | ' | ' | ' | ' |
Net Income | 66,323 | 74,886 | 219,188 | 135,804 |
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease Abstract | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 111 | 111 | 333 | 333 |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | -1 | 8 | -27 | 14 |
Other Comprehensive Income (Loss), Net of Tax, Total | 110 | 119 | 306 | 347 |
Comprehensive Income | 66,433 | 75,005 | 219,494 | 136,151 |
NSTAR Electric Company [Member] | ' | ' | ' | ' |
Net Income | 107,009 | 106,762 | 213,162 | 156,184 |
Public Service Company Of New Hampshire [Member] | ' | ' | ' | ' |
Net Income | 28,353 | 27,232 | 84,543 | 69,726 |
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease Abstract | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 290 | 291 | 872 | 872 |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | -2 | 13 | -47 | 24 |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax | 0 | -2 | -3 | 2 |
Other Comprehensive Income (Loss), Net of Tax, Total | 288 | 302 | 822 | 898 |
Comprehensive Income | 28,641 | 27,534 | 85,365 | 70,624 |
Western Massachusetts Electric Company [Member] | ' | ' | ' | ' |
Net Income | 15,025 | 14,084 | 50,041 | 39,408 |
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease Abstract | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 85 | 84 | 254 | 253 |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | 0 | 2 | -8 | 4 |
Other Comprehensive Income (Loss), Net of Tax, Total | 85 | 86 | 246 | 257 |
Comprehensive Income | $15,110 | $14,170 | $50,287 | $39,665 |
CONSOLIDATED_STATEMENT_OF_CASH
CONSOLIDATED STATEMENT OF CASH FLOWS (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Operating Activities: | ' | ' |
Net Income | $614,413 | $356,482 |
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities: | ' | ' |
Depreciation | 463,635 | 369,798 |
Deferred Income Tax Expense (Benefit) | 334,225 | 186,181 |
Pension and PBOP Expense, Net of PBOP Contributions | 146,803 | 160,209 |
Pension and Other Postretirement Benefit Contributions | -338,301 | -237,123 |
Regulatory (Underrecoveries)/Overrecoveries, Net | 66,239 | -26,236 |
Amortization of Regulatory Assets/(Liabilities), Net | 178,668 | 74,851 |
Amortization of Rate Reduction Bonds | 42,581 | 102,144 |
Other Noncash Income (Expense) | 3,158 | 6,640 |
Changes in Current Assets and Liabilities: | ' | ' |
Receivables and Unbilled Revenues, Net | -98,432 | -27,677 |
Inventory | -13,134 | 32,887 |
Taxes Receivable/(Accrued) | -28,609 | 26,302 |
Change in Accounts Payable | -112,512 | -208,308 |
Other Current Assets and Liabilities | -81,766 | -20,145 |
Net Cash Flows Provided by Operating Activities | 1,176,968 | 796,005 |
Investing Activities: | ' | ' |
Investments in Property, Plant and Equipment | -1,073,759 | -1,081,750 |
Proceeds from Sales of Marketable Securities | 487,729 | 232,911 |
Purchases of Marketable Securities | -541,070 | -252,762 |
DecreaseInRestrictedCash | 69,259 | 6,199 |
Other Investing Activities | -1,137 | 34,066 |
Net Cash Flows Used in Investing Activities | -1,058,978 | -1,061,336 |
Financing Activities: | ' | ' |
Cash Dividends on Common Stock | -341,720 | -267,356 |
Cash Dividends on Preferred Stock | -5,802 | -5,149 |
Increase/(Decrease) in Short-Term Debt | -172,000 | 654,250 |
Issuance of Long-Term Debt | 1,350,000 | 300,000 |
Retirements of Long-Term Debt | -840,600 | -267,561 |
Retirements of Rate Reduction Bonds | -82,139 | -95,225 |
Other Financing Activities | -13,536 | 13,262 |
Net Cash Flows Provided by/(Used in) Financing Activities | -105,797 | 332,221 |
Net Increase/(Decrease) in Cash | 12,193 | 66,890 |
Cash - Beginning of Year | 45,748 | 6,559 |
Cash - End of Year | 57,941 | 73,449 |
The Connecticut Light And Power Company [Member] | ' | ' |
Operating Activities: | ' | ' |
Net Income | 219,188 | 135,804 |
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities: | ' | ' |
Depreciation | 132,356 | 124,451 |
Deferred Income Tax Expense (Benefit) | 89,084 | 97,224 |
Pension and PBOP Expense, Net of PBOP Contributions | 16,182 | 18,394 |
Regulatory (Underrecoveries)/Overrecoveries, Net | 24,061 | -13,804 |
Amortization of Regulatory Assets/(Liabilities), Net | 11,223 | 19,912 |
Other Noncash Income (Expense) | -8,759 | -10,701 |
Changes in Current Assets and Liabilities: | ' | ' |
Receivables and Unbilled Revenues, Net | -44,523 | -21,632 |
Taxes Receivable/(Accrued) | 841 | 21,410 |
Change in Accounts Payable | -101,949 | -173,107 |
Other Current Assets and Liabilities | -29,106 | -49,750 |
Net Cash Flows Provided by Operating Activities | 308,598 | 148,201 |
Investing Activities: | ' | ' |
Investments in Property, Plant and Equipment | -294,638 | -332,323 |
Other Investing Activities | 2,013 | 13,707 |
Net Cash Flows Used in Investing Activities | -292,625 | -318,616 |
Financing Activities: | ' | ' |
Cash Dividends on Common Stock | -114,000 | -100,486 |
Cash Dividends on Preferred Stock | -4,169 | -4,169 |
Increase/(Decrease) in Short-Term Debt | -89,000 | -31,000 |
Issuance of Long-Term Debt | 400,000 | ' |
Increase/(Decrease) in Notes Payable to Affiliate | -62,200 | 314,275 |
Retirements of Long-Term Debt | -125,000 | ' |
Other Financing Activities | -6,352 | -1,636 |
Net Cash Flows Provided by/(Used in) Financing Activities | -721 | 176,984 |
Net Increase/(Decrease) in Cash | 15,252 | 6,569 |
Cash - Beginning of Year | 1 | 1 |
Cash - End of Year | 15,253 | 6,570 |
NSTAR Electric Company [Member] | ' | ' |
Operating Activities: | ' | ' |
Net Income | 213,162 | 156,184 |
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities: | ' | ' |
Bad Debt Expense | 19,012 | 53,254 |
Depreciation | 136,323 | 127,692 |
Deferred Income Tax Expense (Benefit) | 26,358 | -20,250 |
Pension and PBOP Expense, Net of PBOP Contributions | -55,195 | 1,394 |
Regulatory (Underrecoveries)/Overrecoveries, Net | -11,299 | 62,075 |
Amortization of Regulatory Assets/(Liabilities), Net | 173,289 | 87,912 |
Amortization of Rate Reduction Bonds | 15,054 | 67,742 |
Other Noncash Income (Expense) | -48,291 | -29,154 |
Changes in Current Assets and Liabilities: | ' | ' |
Receivables and Unbilled Revenues, Net | -80,575 | -61,528 |
Inventory | 7,961 | 7,264 |
Taxes Receivable/(Accrued) | -6,345 | 44,142 |
Change in Accounts Payable | 6,856 | -81,292 |
Other Current Assets and Liabilities | -19,547 | 58,890 |
IncreaseDecreaseInAccountsPayableRelatedParties | -59,173 | -41,760 |
Net Cash Flows Provided by Operating Activities | 317,590 | 432,565 |
Investing Activities: | ' | ' |
Investments in Property, Plant and Equipment | -330,635 | -298,424 |
DecreaseInRestrictedCash | 37,899 | 25,234 |
Other Investing Activities | 575 | 375 |
Net Cash Flows Used in Investing Activities | -292,161 | -272,815 |
Financing Activities: | ' | ' |
Cash Dividends on Common Stock | -56,000 | -188,700 |
Cash Dividends on Preferred Stock | -1,633 | -1,470 |
Increase/(Decrease) in Short-Term Debt | -120,000 | 104,500 |
Issuance of Long-Term Debt | 200,000 | 0 |
Retirements of Long-Term Debt | -1,650 | -688 |
Retirements of Rate Reduction Bonds | -43,493 | -84,367 |
Other Financing Activities | -878 | 13,336 |
Net Cash Flows Provided by/(Used in) Financing Activities | -23,654 | -157,389 |
Net Increase/(Decrease) in Cash | 1,775 | 2,361 |
Cash - Beginning of Year | 13,695 | 9,373 |
Cash - End of Year | 15,470 | 11,734 |
Public Service Company Of New Hampshire [Member] | ' | ' |
Operating Activities: | ' | ' |
Net Income | 84,543 | 69,726 |
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities: | ' | ' |
Depreciation | 68,433 | 65,282 |
Deferred Income Tax Expense (Benefit) | 57,066 | 39,108 |
Pension and PBOP Expense, Net of PBOP Contributions | 20,427 | 19,508 |
Pension and Other Postretirement Benefit Contributions | -112,964 | -94,169 |
Regulatory (Underrecoveries)/Overrecoveries, Net | -1,346 | 1,718 |
Amortization of Regulatory Assets/(Liabilities), Net | -1,745 | -6,179 |
Amortization of Rate Reduction Bonds | 19,748 | 43,855 |
Other Noncash Income (Expense) | 7,165 | 18,699 |
Changes in Current Assets and Liabilities: | ' | ' |
Receivables and Unbilled Revenues, Net | 8,047 | -4,274 |
Inventory | -30,456 | 20,178 |
Taxes Receivable/(Accrued) | 5,103 | 4,506 |
Change in Accounts Payable | 29,148 | -18,567 |
Other Current Assets and Liabilities | 7,220 | 18,358 |
Net Cash Flows Provided by Operating Activities | 160,389 | 177,749 |
Investing Activities: | ' | ' |
Investments in Property, Plant and Equipment | -155,676 | -161,021 |
(Increase) Decrease In Notes Receivable From Affiliated Company | 0 | 55,900 |
DecreaseInRestrictedCash | 22,039 | 2,599 |
Other Investing Activities | -53 | -99 |
Net Cash Flows Used in Investing Activities | -133,690 | -102,621 |
Financing Activities: | ' | ' |
Cash Dividends on Common Stock | -51,000 | -74,675 |
Increase/(Decrease) in Short-Term Debt | 165,200 | 44,200 |
Retirements of Long-Term Debt | -108,950 | 0 |
Retirements of Rate Reduction Bonds | -29,294 | -41,265 |
Other Financing Activities | 456 | -349 |
Net Cash Flows Provided by/(Used in) Financing Activities | -23,588 | -72,089 |
Net Increase/(Decrease) in Cash | 3,111 | 3,039 |
Cash - Beginning of Year | 2,493 | 56 |
Cash - End of Year | 5,604 | 3,095 |
Western Massachusetts Electric Company [Member] | ' | ' |
Operating Activities: | ' | ' |
Net Income | 50,041 | 39,408 |
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities: | ' | ' |
Depreciation | 27,707 | 22,154 |
Deferred Income Tax Expense (Benefit) | 79,401 | 30,565 |
Regulatory (Underrecoveries)/Overrecoveries, Net | 11,685 | -8,733 |
Amortization of Regulatory Assets/(Liabilities), Net | -598 | 634 |
Amortization of Rate Reduction Bonds | 7,780 | 13,127 |
Other Noncash Income (Expense) | -544 | 1,755 |
Changes in Current Assets and Liabilities: | ' | ' |
Receivables and Unbilled Revenues, Net | -32,231 | -10,482 |
Taxes Receivable/(Accrued) | 16,412 | 7,337 |
Change in Accounts Payable | 20,260 | -28,510 |
Other Current Assets and Liabilities | -9,857 | -9,185 |
Net Cash Flows Provided by Operating Activities | 170,056 | 58,070 |
Investing Activities: | ' | ' |
Investments in Property, Plant and Equipment | -127,352 | -218,184 |
Proceeds from Sales of Marketable Securities | 53,552 | 65,131 |
Purchases of Marketable Securities | -54,042 | -65,664 |
(Increase) Decrease In Notes Receivable From Affiliated Company | ' | 11,000 |
Other Investing Activities | 7,401 | 308 |
Net Cash Flows Used in Investing Activities | -120,441 | -207,409 |
Financing Activities: | ' | ' |
Cash Dividends on Common Stock | -30,000 | -9,431 |
Increase/(Decrease) in Notes Payable to Affiliate | 47,900 | 172,500 |
Retirements of Long-Term Debt | -55,000 | ' |
Retirements of Rate Reduction Bonds | -9,352 | -13,141 |
Other Financing Activities | -7 | -54 |
Net Cash Flows Provided by/(Used in) Financing Activities | -46,459 | 149,874 |
Net Increase/(Decrease) in Cash | 3,156 | 535 |
Cash - Beginning of Year | 1 | 1 |
Cash - End of Year | $3,157 | $536 |
SUMMARY_OF_SIGNIFICANT_ACCOUNT
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ' | |||||||||||
Significant Accounting Policies [Text Block] | ' | |||||||||||
NORTHEAST UTILITIES AND SUBSIDIARIES | ||||||||||||
THE CONNECTICUT LIGHT AND POWER COMPANY | ||||||||||||
NSTAR ELECTRIC COMPANY AND SUBSIDIARY | ||||||||||||
PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE AND SUBSIDIARY | ||||||||||||
WESTERN MASSACHUSETTS ELECTRIC COMPANY | ||||||||||||
COMBINED NOTES TO CONDENSED FINANCIAL STATEMENTS (Unaudited) | ||||||||||||
Refer to the Glossary of Terms included in this combined Quarterly Report on Form 10-Q for abbreviations and acronyms used throughout the combined notes to the unaudited condensed financial statements. | ||||||||||||
1.       SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||||||||||||
A.       Basis of Presentation | ||||||||||||
NU is a public utility holding company primarily engaged through its wholly owned regulated utility subsidiaries in the energy delivery business. On April 10, 2012, NU acquired 100 percent of the outstanding common shares of NSTAR and its subsidiaries. NU's wholly owned regulated utility subsidiaries consist of CL&P, NSTAR Electric, PSNH, WMECO, Yankee Gas and NSTAR Gas. NU provides energy delivery service to approximately 3.6 million electric and natural gas customers through these six regulated utilities in Connecticut, Massachusetts and New Hampshire. NU's consolidated financial information does not include NSTAR and its subsidiaries' results of operations for the three months ended March 31, 2012. The information disclosed for NSTAR Electric represents its results of operations for the three and nine months ended September 30, 2013 and 2012, presented on a comparable basis. | ||||||||||||
The unaudited condensed consolidated financial statements of NU, NSTAR Electric and PSNH include the accounts of each of their respective subsidiaries. Intercompany transactions have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements of NU, NSTAR Electric and PSNH and the unaudited condensed financial statements of CL&P and WMECO are herein collectively referred to as the "financial statements." | ||||||||||||
The combined notes to the financial statements have been prepared pursuant to the rules and regulations of the SEC. Certain information and footnote disclosures included in annual financial statements prepared in accordance with GAAP have been omitted pursuant to such rules and regulations. The accompanying financial statements should be read in conjunction with the entirety of this combined Quarterly Report on Form 10-Q, the first and second quarter 2013 combined Quarterly Reports on Form 10-Q and the 2012 combined Annual Report on Form 10-K of NU, CL&P, NSTAR Electric, PSNH and WMECO, which were filed with the SEC. The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | ||||||||||||
The financial statements contain, in the opinion of management, all adjustments (including normal, recurring adjustments) necessary to present fairly NU's, CL&P's, NSTAR Electric's, PSNH's and WMECO's financial position as of September 30, 2013 and December 31, 2012, the results of operations and comprehensive income for the three and nine months ended September 30, 2013 and 2012, and the cash flows for the nine months ended September 30, 2013 and 2012. The results of operations and comprehensive income for the three and nine months ended September 30, 2013 and 2012, and the cash flows for the nine months ended September 30, 2013 and 2012, are not necessarily indicative of the results expected for a full year. The demand for electricity and natural gas is affected by weather conditions, economic conditions, and consumer conservation (including company-sponsored energy efficiency programs). Electric energy sales and revenues are typically higher in the winter and summer months than in the spring and fall months. Natural gas sales and revenues are typically higher in the winter months than during other periods of the year. | ||||||||||||
NU consolidates CYAPC and YAEC as CL&P's, NSTAR Electric's, PSNH's and WMECO's combined ownership interest in each of these entities is greater than 50 percent. Intercompany transactions between CL&P, NSTAR Electric, PSNH and WMECO and the CYAPC and YAEC companies have been eliminated in consolidation. For CL&P, NSTAR Electric, PSNH and WMECO, the investment in CYAPC and YAEC continue to be accounted for under the equity method. | ||||||||||||
NU's utility subsidiaries are subject to the application of accounting guidance for entities with rate-regulated operations that considers the effect of regulation resulting from differences in the timing of the recognition of certain revenues and expenses from those of other businesses and industries. NU's utility subsidiaries' energy delivery business is subject to rate-regulation that is based on cost recovery and meets the criteria for application of rate-regulated accounting. See Note 2, "Regulatory Accounting," for further information. | ||||||||||||
Certain reclassifications of prior period data were made in the accompanying balance sheets for NU, PSNH and WMECO, and the statements of cash flows for all companies presented. These reclassifications were made to conform to the current period's presentation. | ||||||||||||
B.       Accounting Standards | ||||||||||||
Recently Adopted Accounting Standards: In the first quarter of 2013, NU adopted the following Financial Accounting Standards Board's (FASB) final Accounting Standards Updates (ASU) relating to additional disclosure requirements: | ||||||||||||
Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income: Requires entities to disclose additional information about items reclassified out of AOCI. The ASU does not change existing guidance on which items should be reclassified out of AOCI but requires disclosures about the components of AOCI and the amount of reclassification adjustments to be presented in one location. The ASU was effective beginning in the first quarter of 2013 and was applied prospectively. For further information, see Note 11, "Accumulated Other Comprehensive Income/(Loss)," to the financial statements. The ASU did not affect the calculation of net income, comprehensive income or EPS and did not have an impact on financial position, results of operations or cash flows. | ||||||||||||
Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities: Clarifies the scope of the offsetting disclosure requirements under GAAP. The disclosure requirements apply to derivative instruments, do not change existing guidance on which items should be offset in the balance sheets and require disclosures about the items that are offset. The ASU was effective beginning in the first quarter of 2013 with retrospective application. For further information, see Note 4, "Derivative Instruments," to the financial statements. The ASU did not have an impact on financial position, results of operations or cash flows. | ||||||||||||
Accounting Standards Issued but not Yet Adopted: In July 2013, the FASB issued a final ASU that requires presentation of certain unrecognized tax benefits as reductions to deferred tax assets rather than as liabilities. Management is currently evaluating the balance sheet impact of implementing this standard. The ASU does not impact results of operations or cash flows. | ||||||||||||
C.       Provision for Uncollectible Accounts | ||||||||||||
NU, including CL&P, NSTAR Electric, PSNH and WMECO, presents its receivables at net realizable value by maintaining a provision for uncollectible amounts. This provision is determined based upon a variety of factors, including applying an estimated uncollectible account percentage to each receivable aging category, based upon historical collection and write-off experience and management's assessment of collectibility from individual customers. Management assesses the collectibility of receivables, and if circumstances change, collectibility estimates are adjusted accordingly. Receivable balances are written off against the provision for uncollectible accounts when the accounts are terminated and these balances are deemed to be uncollectible. | ||||||||||||
The provision for uncollectible accounts, which is included in Receivables, Net on the balance sheets, was as follows: | ||||||||||||
(Millions of Dollars) | As of September 30, 2013 | As of December 31, 2012 | ||||||||||
NU | $ | 182.5 | $ | 165.5 | ||||||||
CL&P | 85.8 | 77.6 | ||||||||||
NSTAR Electric | 45.9 | 44.1 | ||||||||||
PSNH | 7.7 | 6.8 | ||||||||||
WMECO | 10.4 | 8.5 | ||||||||||
D.       Fair Value Measurements | ||||||||||||
Fair value measurement guidance is applied to derivative contracts recorded at fair value and to the marketable securities held in trusts. Fair value measurement guidance is also applied to investment valuations used to calculate the funded status of pension and PBOP plans and nonrecurring fair value measurements of nonfinancial assets such as goodwill and AROs. | ||||||||||||
Fair Value Hierarchy: In measuring fair value, NU uses observable market data when available and minimizes the use of unobservable inputs. Inputs used in fair value measurements are categorized into three fair value hierarchy levels for disclosure purposes. The entire fair value measurement is categorized based on the lowest level of input that is significant to the fair value measurement. NU evaluates the classification of assets and liabilities measured at fair value on a quarterly basis, and NU's policy is to recognize transfers between levels of the fair value hierarchy as of the end of the reporting period. The three levels of the fair value hierarchy are described below: | ||||||||||||
Level 1 - Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. | ||||||||||||
Level 2 - Inputs are quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations in which all significant inputs are observable. | ||||||||||||
Level 3 - Quoted market prices are not available. Fair value is derived from valuation techniques in which one or more significant inputs or assumptions are unobservable. Where possible, valuation techniques incorporate observable market inputs that can be validated to external sources such as industry exchanges, including prices of energy and energy-related products. | ||||||||||||
Determination of Fair Value: The valuation techniques and inputs used in NU's fair value measurements are described in Note 4, "Derivative Instruments," Note 5, "Marketable Securities," and Note 10, "Fair Value of Financial Instruments," to the financial statements. | ||||||||||||
E.       Other Income, Net | ||||||||||||
Items included within Other Income, Net on the statements of income primarily consist of investment income/(loss), interest income, AFUDC related to equity funds, and equity in earnings. For CL&P, NSTAR Electric, PSNH and WMECO, equity in earnings relate to investments in CYAPC, YAEC and MYAPC as well as NSTAR Electric's investment in two regional transmission companies, which are all accounted for on the equity method. On an NU consolidated basis, equity in earnings relate to the investment in MYAPC and NU's investment in two regional transmission companies. | ||||||||||||
F.       Other Taxes | ||||||||||||
Gross receipts taxes levied by the state of Connecticut are collected by CL&P and Yankee Gas from their respective customers. These gross receipts taxes are shown on a gross basis with collections in Operating Revenues and payments in Taxes Other Than Income Taxes on the statements of income as follows: | ||||||||||||
For the Three Months Ended | For the Nine Months Ended | |||||||||||
(Millions of Dollars) | 30-Sep-13 | 30-Sep-12 | 30-Sep-13 | 30-Sep-12 | ||||||||
NU | $ | 37.5 | $ | 36.4 | $ | 108.9 | $ | 102 | ||||
CL&P | 35.5 | 34.4 | 97.3 | 91.5 | ||||||||
Certain sales taxes are also collected by NU's companies that serve customers in Connecticut and Massachusetts as agents for state and local governments and are recorded on a net basis with no impact on the statements of income. | ||||||||||||
G. | Supplemental Cash Flow Information | |||||||||||
Non-cash investing activities include plant additions included in Accounts Payable as follows: | ||||||||||||
(Millions of Dollars) | As of September 30, 2013 | As of September 30, 2012 | ||||||||||
NU | $ | 122.9 | $ | 139.9 | ||||||||
CL&P | 36.6 | 45.9 | ||||||||||
NSTAR Electric | 31.9 | 21.5 | ||||||||||
PSNH | 16.9 | 20.1 | ||||||||||
WMECO | 13.8 | 35.1 | ||||||||||
H.       Severance Benefits | ||||||||||||
In the third quarter of 2013, NU recorded severance benefit expenses of $9.2 million in connection with the partial outsourcing of information technology functions made as part of ongoing post-merger integration. As of September 30, 2013, the severance accrual totaled $14.2 million and was included in Other Current Liabilities on the accompanying balance sheet. |
REGULATORY_ACCOUNTING
REGULATORY ACCOUNTING | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ' | ||||||||||||||||||||||||
Public Utilities Disclosure [Text Block] | ' | ||||||||||||||||||||||||
2.       REGULATORY ACCOUNTING | |||||||||||||||||||||||||
The rates charged to the customers of NU's Regulated companies are designed to collect each company's costs to provide service, including a return on investment. Therefore, the accounting policies of the Regulated companies reflect the application of accounting guidance for entities with rate-regulated operations and reflect the effects of the rate-making process. | |||||||||||||||||||||||||
Management believes it is probable that each of the Regulated companies will recover their respective investments in long-lived assets, including regulatory assets. If management were to determine that it could no longer apply the accounting guidance applicable to rate-regulated enterprises to any of the Regulated companies' operations, or that management could not conclude it is probable that costs would be recovered from customers in future rates, the costs would be charged to net income in the period in which the determination is made. | |||||||||||||||||||||||||
Regulatory Assets: The components of regulatory assets are as follows: | |||||||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | ||||||||||||||||||||||||
(Millions of Dollars) | NU | NU | |||||||||||||||||||||||
Benefit Costs | $ | 2,256.00 | $ | 2,452.10 | |||||||||||||||||||||
Regulatory Assets Offsetting Derivative Liabilities | 770.3 | 885.6 | |||||||||||||||||||||||
Goodwill | 531.1 | 537.6 | |||||||||||||||||||||||
Storm Restoration Costs | 621 | 547.7 | |||||||||||||||||||||||
Income Taxes, Net | 587.5 | 516.2 | |||||||||||||||||||||||
Securitized Assets | 37.4 | 232.6 | |||||||||||||||||||||||
Contractual Obligations | 170.9 | 217.6 | |||||||||||||||||||||||
Buy Out Agreements for Power Contracts | 76 | 92.9 | |||||||||||||||||||||||
Regulatory Tracker Deferrals | 163.3 | 190.1 | |||||||||||||||||||||||
Asset Retirement Obligations | 93 | 88.8 | |||||||||||||||||||||||
Other Regulatory Assets | 50.1 | 76.2 | |||||||||||||||||||||||
Total Regulatory Assets | 5,356.60 | 5,837.40 | |||||||||||||||||||||||
Less: Current Portion | 474.2 | 705 | |||||||||||||||||||||||
Total Long-Term Regulatory Assets | $ | 4,882.40 | $ | 5,132.40 | |||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | ||||||||||||||||||||||||
NSTAR | NSTAR | ||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | |||||||||||||||||
Benefit Costs | $ | 509.3 | $ | 824.3 | $ | 199.6 | $ | 103.8 | $ | 563.2 | $ | 781.2 | $ | 223.7 | $ | 116 | |||||||||
Regulatory Assets Offsetting | |||||||||||||||||||||||||
Derivative Liabilities | 755.3 | 11.6 | 0.3 | - | 866.2 | 14.9 | - | 3 | |||||||||||||||||
Goodwill | - | 455.9 | - | - | - | 461.5 | - | - | |||||||||||||||||
Storm Restoration Costs | 439.4 | 114 | 27.9 | 39.7 | 413.9 | 55.8 | 34.5 | 43.5 | |||||||||||||||||
Income Taxes, Net | 385.3 | 84.8 | 36.5 | 42.1 | 367.5 | 47.1 | 36.2 | 31 | |||||||||||||||||
Securitized Assets | - | 37.4 | - | - | - | 205.1 | 19.7 | 7.8 | |||||||||||||||||
Contractual Obligations | 20 | 6.4 | - | 4.6 | 64 | 22.8 | - | 14.9 | |||||||||||||||||
Buy Out Agreements for Power Contracts | - | 70.1 | 5.9 | - | - | 85.9 | 7 | - | |||||||||||||||||
Regulatory Tracker Deferrals | - | 83.6 | 52.5 | 21.5 | 12.2 | 71.4 | 49.3 | 31.9 | |||||||||||||||||
Asset Retirement Obligations | 31.1 | 30.7 | 14.7 | 3.7 | 29.4 | 29.4 | 14.2 | 3.5 | |||||||||||||||||
Other Regulatory Assets | 28.7 | 9.2 | 31.7 | 17.2 | 27.9 | 16.9 | 29.4 | 12.6 | |||||||||||||||||
Total Regulatory Assets | 2,169.10 | 1,728.00 | 369.1 | 232.6 | 2,344.30 | 1,792.00 | 414 | 264.2 | |||||||||||||||||
Less: Current Portion | 147.1 | 189.8 | 67.7 | 37.9 | 185.9 | 347.1 | 62.9 | 42.4 | |||||||||||||||||
Total Long-Term Regulatory Assets | $ | 2,022.00 | $ | 1,538.20 | $ | 301.4 | $ | 194.7 | $ | 2,158.40 | $ | 1,444.90 | $ | 351.1 | $ | 221.8 | |||||||||
Storm Restoration Costs: The storm restoration cost deferrals relate to costs incurred at CL&P, NSTAR Electric, PSNH and WMECO that each company expects to collect from customers. The storm restoration cost regulatory asset balance at CL&P, NSTAR Electric and WMECO primarily reflects costs incurred for Tropical Storm Irene, the October 2011 snowstorm, Storm Sandy and the February 2013 blizzard. For PSNH, costs incurred associated with these storms are recorded in Other Long-Term Assets. The storm restoration cost regulatory asset balance at PSNH primarily reflects costs incurred for storms in 2008 and 2010, which are currently being recovered in rates. Management believes the storm restoration costs meet the criteria for specific cost recovery in Connecticut, Massachusetts and New Hampshire and as a result, are probable of recovery. Each operating company is seeking recovery of these deferred storm restoration costs through its applicable regulatory recovery process. | |||||||||||||||||||||||||
Regulatory Costs in Other Long-Term Assets: The Regulated companies had $95.1 million ($3.4 million for CL&P, $31.3 million for NSTAR Electric, $37.3 million for PSNH, and $7.9 million for WMECO) and $69.9 million ($3.9 million for CL&P, $25.4 million for NSTAR Electric, $35.7 million for PSNH, and $1.4 million for WMECO) of additional regulatory costs as of September 30, 2013 and December 31, 2012, respectively, which were included in Other Long-Term Assets on the balance sheets. These amounts represent incurred costs for which specific recovery has not yet been approved by the applicable regulatory agency. Management believes it is probable that these costs will ultimately be approved and recovered from customers. | |||||||||||||||||||||||||
Regulatory Liabilities: The components of regulatory liabilities are as follows: | |||||||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | ||||||||||||||||||||||||
(Millions of Dollars) | NU | NU | |||||||||||||||||||||||
Cost of Removal | $ | 434.3 | $ | 440.8 | |||||||||||||||||||||
Regulatory Tracker Deferrals | 168.6 | 95.1 | |||||||||||||||||||||||
AFUDC - Transmission | 68.3 | 70 | |||||||||||||||||||||||
Other Regulatory Liabilities | 73.9 | 68.4 | |||||||||||||||||||||||
Total Regulatory Liabilities | 745.1 | 674.3 | |||||||||||||||||||||||
Less: Current Portion | 224.4 | 134.1 | |||||||||||||||||||||||
Total Long-Term Regulatory Liabilities | $ | 520.7 | $ | 540.2 | |||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | ||||||||||||||||||||||||
NSTAR | NSTAR | ||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | |||||||||||||||||
Cost of Removal | $ | 31.2 | $ | 247.2 | $ | 49.8 | $ | - | $ | 44.2 | $ | 240.3 | $ | 51.2 | $ | - | |||||||||
Regulatory Tracker Deferrals | 73.2 | 51 | 10.7 | 22.1 | 39.1 | 14.4 | 20.4 | 19 | |||||||||||||||||
AFUDC - Transmission | 55 | 4 | - | 9.3 | 56.6 | 4.1 | - | 9.3 | |||||||||||||||||
Other Regulatory Liabilities | 30.6 | 31.3 | 15.8 | 2.9 | 16.5 | 32.9 | 3.8 | 2.4 | |||||||||||||||||
Total Regulatory Liabilities | 190 | 333.5 | 76.3 | 34.3 | 156.4 | 291.7 | 75.4 | 30.7 | |||||||||||||||||
Less: Current Portion | 82 | 82.5 | 23.4 | 22.4 | 32.1 | 47.5 | 23 | 21 | |||||||||||||||||
Total Long-Term Regulatory Liabilities | $ | 108 | $ | 251 | $ | 52.9 | $ | 11.9 | $ | 124.3 | $ | 244.2 | $ | 52.4 | $ | 9.7 |
PROPERTY_PLANT_AND_ACCUMULATED
PROPERTY, PLANT AND ACCUMULATED DEPRECIATION | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ' | |||||||||||||||||||||||
Schedule of Public Utility Property, Plant, and Equipment [Text Block] | ' | |||||||||||||||||||||||
3.       PROPERTY, PLANT AND EQUIPMENT AND ACCUMULATED DEPRECIATION | ||||||||||||||||||||||||
The following tables summarize the NU, CL&P, NSTAR Electric, PSNH and WMECO investments in utility property, plant and equipment by asset category: | ||||||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | |||||||||||||||||||||||
(Millions of Dollars) | NU | NU | ||||||||||||||||||||||
Distribution - Electric | $ | 11,735.40 | $ | 11,438.20 | ||||||||||||||||||||
Distribution - Natural Gas | 2,352.40 | 2,274.20 | ||||||||||||||||||||||
Transmission | 6,009.00 | 5,541.10 | ||||||||||||||||||||||
Generation | 1,142.10 | 1,146.60 | ||||||||||||||||||||||
Electric and Natural Gas Utility | 21,238.90 | 20,400.10 | ||||||||||||||||||||||
Other (1) | 505.2 | 429.3 | ||||||||||||||||||||||
Property, Plant and Equipment, Gross | 21,744.10 | 20,829.40 | ||||||||||||||||||||||
Less: Accumulated Depreciation | ||||||||||||||||||||||||
Electric and Natural Gas Utility | -5,331.00 | -5,065.10 | ||||||||||||||||||||||
Other | -192.9 | -171.5 | ||||||||||||||||||||||
Total Accumulated Depreciation | -5,523.90 | -5,236.60 | ||||||||||||||||||||||
Property, Plant and Equipment, Net | 16,220.20 | 15,592.80 | ||||||||||||||||||||||
Construction Work in Progress | 967.7 | 1,012.20 | ||||||||||||||||||||||
Total Property, Plant and Equipment, Net | $ | 17,187.90 | $ | 16,605.00 | ||||||||||||||||||||
(1)Â Â Â Â Â Â Â These assets represent unregulated property and are primarily comprised of building improvements at RRR, software, hardware and equipment at NUSCO and telecommunications assets at NSTAR Communications, Inc. | ||||||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | |||||||||||||||||||||||
NSTAR | NSTAR | |||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | ||||||||||||||||
Distribution | $ | 4,836.10 | $ | 4,622.70 | $ | 1,569.70 | $ | 746.3 | $ | 4,691.30 | $ | 4,539.90 | $ | 1,520.10 | $ | 724.2 | ||||||||
Transmission | 2,969.60 | 1,664.50 | 613.2 | 715.8 | 2,796.10 | 1,529.70 | 599.2 | 583.7 | ||||||||||||||||
Generation | - | - | 1,121.00 | 21.1 | - | - | 1,125.50 | 21.1 | ||||||||||||||||
Property, Plant and | ||||||||||||||||||||||||
Equipment, Gross | 7,805.70 | 6,287.20 | 3,303.90 | 1,483.20 | 7,487.40 | 6,069.60 | 3,244.80 | 1,329.00 | ||||||||||||||||
Less: Accumulated Depreciation | -1,778.70 | -1,634.50 | -1,001.70 | -265.7 | -1,698.10 | -1,540.10 | -954 | -252.1 | ||||||||||||||||
Property, Plant and Equipment, Net | 6,027.00 | 4,652.70 | 2,302.20 | 1,217.50 | 5,789.30 | 4,529.50 | 2,290.80 | 1,076.90 | ||||||||||||||||
Construction Work in Progress | 299.2 | 270.7 | 106.8 | 135.2 | 363.7 | 205.8 | 61.7 | 213.6 | ||||||||||||||||
Total Property, Plant and | ||||||||||||||||||||||||
Equipment, Net | $ | 6,326.20 | $ | 4,923.40 | $ | 2,409.00 | $ | 1,352.70 | $ | 6,153.00 | $ | 4,735.30 | $ | 2,352.50 | $ | 1,290.50 |
DERIVATIVE_INSTRUMENTS
DERIVATIVE INSTRUMENTS | 9 Months Ended | ||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ' | ||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Text Block] | ' | ||||||||||||||||||
4.       DERIVATIVE INSTRUMENTS | |||||||||||||||||||
The Regulated companies purchase and procure energy and energy-related products for their customers, which are subject to price volatility. The costs associated with supplying energy to customers are recoverable through customer rates. The Regulated companies manage the risks associated with the price volatility of energy and energy-related products through the use of derivative and nonderivative contracts. Many of the derivative contracts meet the definition of, and are designated as, "normal purchases or normal sales" (normal) under the applicable accounting guidance. | |||||||||||||||||||
Derivative contracts that are not designated as normal are recorded at fair value as current or long-term Derivative Assets or Derivative Liabilities on the balance sheets. For the Regulated companies, Regulatory Assets or Regulatory Liabilities are recorded for the fair values of derivatives, as costs are recovered from, or refunded to, customers in their respective energy supply rates. For NU's remaining unregulated wholesale marketing contracts, changes in fair values of derivatives are included in Net Income. The costs and benefits of derivative contracts that meet the definition of normal are recognized in Operating Expenses or Operating Revenues on the statements of income, as applicable, as electricity or natural gas is delivered. | |||||||||||||||||||
The gross fair values of derivative assets and liabilities with the same counterparty are offset and reported as net Derivative Assets or Derivative Liabilities, with current and long-term portions, on the balance sheets. Cash collateral posted or collected under master netting agreements is recorded as an offset to the derivative asset or liability. The following tables present the gross fair values of contracts categorized by risk type and the net amounts recorded as current or long-term derivative asset or liability: | |||||||||||||||||||
As of September 30, 2013 | |||||||||||||||||||
Commodity Supply and | Net Amount Recorded as | ||||||||||||||||||
(Millions of Dollars) | Price Risk Management | Netting (1) | Derivative Asset/(Liability) | ||||||||||||||||
Current Derivative Assets: | |||||||||||||||||||
Level 3: | |||||||||||||||||||
CL&P (1) | $ | 17.3 | $ | -10.1 | $ | 7.2 | |||||||||||||
NSTAR Electric | 0.4 | - | 0.4 | ||||||||||||||||
Other | 1.3 | - | 1.3 | ||||||||||||||||
Total Current Derivative Assets | $ | 19 | $ | -10.1 | $ | 8.9 | |||||||||||||
Long-Term Derivative Assets: | |||||||||||||||||||
Level 3: | |||||||||||||||||||
CL&P (1) | $ | 139.5 | $ | -51.5 | $ | 88 | |||||||||||||
WMECO | 0.9 | - | 0.9 | ||||||||||||||||
Total Long-Term Derivative Assets | $ | 140.4 | $ | -51.5 | $ | 88.9 | |||||||||||||
Current Derivative Liabilities: | |||||||||||||||||||
Level 2: | |||||||||||||||||||
PSNH (1) | $ | -0.5 | $ | 0.2 | $ | -0.3 | |||||||||||||
Other (1) (2) | -7.4 | - | -7.4 | ||||||||||||||||
Level 3: | |||||||||||||||||||
CL&P | -94.1 | - | -94.1 | ||||||||||||||||
NSTAR Electric | -1.6 | - | -1.6 | ||||||||||||||||
WMECO | -0.1 | - | -0.1 | ||||||||||||||||
Total Current Derivative Liabilities | $ | -103.7 | $ | 0.2 | $ | -103.5 | |||||||||||||
Long-Term Derivative Liabilities: | |||||||||||||||||||
Level 3: | |||||||||||||||||||
CL&P | $ | -756.4 | $ | - | $ | -756.4 | |||||||||||||
NSTAR Electric | -10.4 | - | -10.4 | ||||||||||||||||
Total Long-Term Derivative Liabilities | $ | -766.8 | $ | - | $ | -766.8 | |||||||||||||
As of December 31, 2012 | |||||||||||||||||||
Commodity Supply and | Net Amount Recorded as | ||||||||||||||||||
(Millions of Dollars) | Price Risk Management | Netting (1) | Derivative Asset/(Liability) | ||||||||||||||||
Current Derivative Assets: | |||||||||||||||||||
Level 2: | |||||||||||||||||||
Other (1) | $ | 0.2 | $ | - | $ | 0.2 | |||||||||||||
Level 3: | |||||||||||||||||||
CL&P (1) | 17.7 | -12 | 5.7 | ||||||||||||||||
Other | 5.5 | - | 5.5 | ||||||||||||||||
Total Current Derivative Assets | $ | 23.4 | $ | -12 | $ | 11.4 | |||||||||||||
Long-Term Derivative Assets: | |||||||||||||||||||
Level 3: | |||||||||||||||||||
CL&P (1) | $ | 159.7 | $ | -69.1 | $ | 90.6 | |||||||||||||
Total Long-Term Derivative Assets | $ | 159.7 | $ | -69.1 | $ | 90.6 | |||||||||||||
Current Derivative Liabilities: | |||||||||||||||||||
Level 2: | |||||||||||||||||||
Other (1) (2) | $ | -19.9 | $ | 0.6 | $ | -19.3 | |||||||||||||
Level 3: | |||||||||||||||||||
CL&P | -96.9 | - | -96.9 | ||||||||||||||||
NSTAR Electric | -1 | - | -1 | ||||||||||||||||
Total Current Derivative Liabilities | $ | -117.8 | $ | 0.6 | $ | -117.2 | |||||||||||||
Long-Term Derivative Liabilities: | |||||||||||||||||||
Level 2: | |||||||||||||||||||
Other (1) | $ | -0.2 | $ | - | $ | -0.2 | |||||||||||||
Level 3: | |||||||||||||||||||
CL&P | -865.6 | - | -865.6 | ||||||||||||||||
NSTAR Electric | -13.9 | - | -13.9 | ||||||||||||||||
WMECO | -3 | - | -3 | ||||||||||||||||
Total Long-Term Derivative Liabilities | $ | -882.7 | $ | - | $ | -882.7 | |||||||||||||
       Amounts represent derivative assets and liabilities which NU has elected to record net on the balance sheets. These amounts are subject to master netting agreements or similar agreements for which the right of offset exists. | |||||||||||||||||||
(2)Â Â Â Â Â Â Â As of September 30, 2013 and December 31, 2012, NU had $1 million and $4.1 million, respectively, of cash posted related to these contracts, which was not offset against the derivative liability and is recorded as Prepayments and Other Current Assets on the balance sheets. | |||||||||||||||||||
For further information on the fair value of derivative contracts, see Note 1D, "Summary of Significant Accounting Policies - Fair Value Measurements," to the financial statements. | |||||||||||||||||||
Derivatives Not Designated as Hedges | |||||||||||||||||||
Commodity Supply and Price Risk Management: As required by regulation, CL&P has capacity-related contracts with generation facilities. These contracts and similar UI contracts have an expected capacity of 787 MW. CL&P has a sharing agreement with UI, with 80 percent of each contract allocated to CL&P and 20 percent allocated to UI. The capacity contracts extend through 2026 and obligate both CL&P and UI to make or receive payments on a monthly basis to or from the generation facilities based on the difference between a set capacity price and the forward capacity market price received in the ISO-NE capacity markets. In addition, CL&P has a contract to purchase 0.1 million MWh of energy per year through 2020. | |||||||||||||||||||
NSTAR Electric has a renewable energy contract to purchase 0.1 million MWh of energy per year through 2018. NSTAR Electric also has a capacity related contract for up to 35 MW per year that extends through 2019. | |||||||||||||||||||
PSNH has electricity procurement contracts to purchase 0.2 million MWh of energy through November 2013. | |||||||||||||||||||
WMECO has a renewable energy contract to purchase 0.1 million MWh of energy per year through 2029 with a facility that is expected to achieve commercial operation by June 2014. | |||||||||||||||||||
As of September 30, 2013 and December 31, 2012, NU had NYMEX future contracts in order to reduce variability associated with the purchase price of approximately 10.2 million and 11.5 million MMBtu of natural gas, respectively. | |||||||||||||||||||
As of September 30, 2013 and December 31, 2012, NU had approximately 5 thousand MWh and 24 thousand MWh, respectively, of supply volumes remaining in its unregulated wholesale portfolio when expected sales are compared with supply contracts. | |||||||||||||||||||
The following table presents the current change in fair value, primarily recovered through rates from customers, associated with NU's derivative contracts not designated as hedges: | |||||||||||||||||||
Location of Amounts | Amounts Recognized on Derivatives | ||||||||||||||||||
Recognized on Derivatives | For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||||||||||||||||
(Millions of Dollars) | 2013 | 2012 | 2013 | 2012 | |||||||||||||||
NU | |||||||||||||||||||
Balance Sheet: | |||||||||||||||||||
Regulatory Assets | $ | 0.3 | $ | 11.7 | $ | 48.8 | $ | -25 | |||||||||||
Statement of Income: | |||||||||||||||||||
Purchased Power, Fuel and Transmission | 0.2 | 0.2 | 0.9 | -0.8 | |||||||||||||||
Credit Risk | |||||||||||||||||||
Certain of NU's derivative contracts contain credit risk contingent features. These features require NU to maintain investment grade credit ratings from the major rating agencies and to post collateral for contracts in a net liability position over specified credit limits. The following summarizes the fair value of derivative contracts that were in a net liability position and subject to credit risk contingent features and the additional collateral that would be required to be posted by NU if the unsecured debt credit ratings of NU parent were downgraded to below investment grade: | |||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | ||||||||||||||||||
Additional Collateral | Additional Collateral | ||||||||||||||||||
Fair Value Subject | Required if | Fair Value Subject | Required if | ||||||||||||||||
to Credit Risk | Downgraded Below | to Credit Risk | Downgraded Below | ||||||||||||||||
(Millions of Dollars) | Contingent Features | Investment Grade | Contingent Features | Investment Grade | |||||||||||||||
NU | $ | -6.7 | $ | 13.4 | $ | -15.3 | $ | 17.4 | |||||||||||
Fair Value Measurements of Derivative Instruments | |||||||||||||||||||
Valuation of Derivative Instruments: Derivative contracts classified as Level 2 in the fair value hierarchy relate to the financial contracts for natural gas futures, forward contracts to purchase energy at PSNH and the remaining unregulated wholesale marketing sourcing contracts. Prices are obtained from broker quotes and are based on actual market activity. The contracts are valued using the mid-point of the bid-ask spread. Valuations of these contracts also incorporate discount rates using the yield curve approach. | |||||||||||||||||||
The fair value of derivative contracts classified as Level 3 utilizes significant unobservable inputs. The fair value is modeled using income techniques, such as discounted cash flow approaches adjusted for assumptions relating to exit price. Significant observable inputs for valuations of these contracts include energy and energy-related product prices in future years for which quoted prices in an active market exist. Fair value measurements categorized in Level 3 of the fair value hierarchy are prepared by individuals with expertise in valuation techniques, pricing of energy and energy-related products, and accounting requirements. The future power and capacity prices for periods that are not quoted in an active market or established at auction are based on available market data and are escalated based on estimates of inflation to address the full time period of the contract. | |||||||||||||||||||
Valuations of derivative contracts using discounted cash flow methodology include assumptions regarding the timing and likelihood of scheduled payments and also reflect non-performance risk, including credit, using the default probability approach based on the counterparty's credit rating for assets and the company's credit rating for liabilities. Valuations incorporate estimates of premiums or discounts that would be required by a market participant to arrive at an exit price, using historical market transactions adjusted for the terms of the contract. | |||||||||||||||||||
The following is a summary of NU's, including CL&P's, NSTAR Electric's and WMECO's, Level 3 derivative contracts and the range of the significant unobservable inputs utilized in the valuations over the duration of the contracts: | |||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | ||||||||||||||||||
Range | Period Covered | Range | Period Covered | ||||||||||||||||
Energy Prices: | |||||||||||||||||||
NU | $45 - $93 per MWh | 2018 - 2029 | $43 - $90 per MWh | 2018 - 2028 | |||||||||||||||
CL&P | $52 - $56 per MWh | 2018 - 2020 | $50 - $55 per MWh | 2018 - 2020 | |||||||||||||||
WMECO | $45 - $93 per MWh | 2018 - 2029 | $43 - $90 per MWh | 2018 - 2028 | |||||||||||||||
Capacity Prices: | |||||||||||||||||||
NU | $1.40 - $10.53 per kW-Month | 2017 - 2029 | $1.40 - $10.53 per kW-Month | 2016 - 2028 | |||||||||||||||
CL&P | $1.40 - $9.51 per kW-Month | 2017 - 2026 | $1.40 - $9.83 per kW-Month | 2016 - 2026 | |||||||||||||||
NSTAR Electric | $1.40 - $3.39 per kW-Month | 2017 - 2019 | $1.40 - $3.39 per kW-Month | 2016 - 2019 | |||||||||||||||
WMECO | $1.40 - $10.53 per kW-Month | 2017 - 2029 | $1.40 - $10.53 per kW-Month | 2016 - 2028 | |||||||||||||||
Forward Reserve: | |||||||||||||||||||
NU, CL&P | $3.00 per kW-Month | 2013 - 2024 | $0.35 - $0.90 per kW-Month | 2013 - 2024 | |||||||||||||||
REC Prices: | |||||||||||||||||||
NU | $25 - $87 per REC | 2013 - 2029 | $25 - $85 per REC | 2013 - 2028 | |||||||||||||||
NSTAR Electric | $25 - $71 per REC | 2013 - 2018 | $25 - $71 per REC | 2013 - 2018 | |||||||||||||||
WMECO | $25 - $87 per REC | 2014 - 2029 | $25 - $85 per REC | 2013 - 2028 | |||||||||||||||
Exit price premiums of 10 percent through 32 percent are also applied on these contracts and reflect the most recent market activity available for similar type contracts. | |||||||||||||||||||
Significant increases or decreases in future power or capacity prices in isolation would decrease or increase, respectively, the fair value of the derivative liability. Any increases in the risk premiums would increase the fair value of the derivative liabilities. Changes in these fair values are recorded as a regulatory asset or liability and would not impact net income. | |||||||||||||||||||
Valuations using significant unobservable inputs: The following tables present changes for the three and nine months ended September 30, 2013 and 2012 in the Level 3 category of derivative assets and derivative liabilities measured at fair value on a recurring basis. The derivative assets and liabilities are presented on a net basis. The fair value as of January 1, 2012 reflects a reclassification of remaining unregulated wholesale marketing sourcing contracts that had previously been presented as a portfolio along with the unregulated wholesale marketing sales contract as Level 3 under the highest and best use valuation premise. These contracts are now classified within Level 2 of the fair value hierarchy. | |||||||||||||||||||
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | ||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||
(Millions of Dollars) | NU | NU | NU | NU | |||||||||||||||
Derivatives, Net: | |||||||||||||||||||
Fair Value as of Beginning of Period | $ | -788.1 | $ | -932.1 | $ | -878.6 | $ | -962.2 | |||||||||||
Liabilities Assumed due to Merger with NSTAR | - | - | - | -5.4 | |||||||||||||||
Transfer to Level 2 | - | - | - | 32.2 | |||||||||||||||
Net Realized/Unrealized Gains/(Losses) Included in: | |||||||||||||||||||
Net Income | 1.2 | -0.2 | 8.3 | 7.2 | |||||||||||||||
Regulatory Assets | 0.8 | 8.5 | 49.6 | -30.1 | |||||||||||||||
Settlements | 21.3 | 21.5 | 55.9 | 56 | |||||||||||||||
Fair Value as of End of Period | $ | -764.8 | $ | -902.3 | $ | -764.8 | $ | -902.3 | |||||||||||
For the Three Months Ended | |||||||||||||||||||
30-Sep-13 | 30-Sep-12 | ||||||||||||||||||
(Millions of Dollars) | CL&P | NSTAR Electric | WMECO | CL&P | NSTAR Electric(1) | WMECO | |||||||||||||
Derivatives, Net: | |||||||||||||||||||
Fair Value as of Beginning of Period | $ | -775.8 | $ | -13.1 | $ | -0.7 | $ | -910.7 | $ | -15.8 | $ | -13.5 | |||||||
Net Realized/Unrealized Gains/(Losses) | |||||||||||||||||||
Included in Regulatory Assets | -1.2 | 0.5 | 1.5 | -2.8 | 1.4 | 9.8 | |||||||||||||
Settlements | 21.7 | 1 | - | 22.6 | 0.6 | - | |||||||||||||
Fair Value as of End of Period | $ | -755.3 | $ | -11.6 | $ | 0.8 | $ | -890.9 | $ | -13.8 | $ | -3.7 | |||||||
For the Nine Months Ended | |||||||||||||||||||
30-Sep-13 | 30-Sep-12 | ||||||||||||||||||
(Millions of Dollars) | CL&P | NSTAR Electric | WMECO | CL&P | NSTAR Electric(1) | WMECO | |||||||||||||
Derivatives, Net: | |||||||||||||||||||
Fair Value as of Beginning of Period | $ | -866.2 | $ | -14.9 | $ | -3 | $ | -931.6 | $ | -3.4 | $ | -7.3 | |||||||
Net Realized/Unrealized Gains/(Losses) | |||||||||||||||||||
Included in Regulatory Assets | 45.1 | 0.6 | 3.8 | -23.8 | -13.2 | 3.6 | |||||||||||||
Settlements | 65.8 | 2.7 | - | 64.5 | 2.8 | - | |||||||||||||
Fair Value as of End of Period | $ | -755.3 | $ | -11.6 | $ | 0.8 | $ | -890.9 | $ | -13.8 | $ | -3.7 | |||||||
NSTAR Electric amounts are included in NU consolidated from the date of the merger, April 10, 2012, through September 30, 2012. | |||||||||||||||||||
MARKETABLE_SECURITIES
MARKETABLE SECURITIES | 9 Months Ended | ||||||||||||||
Sep. 30, 2013 | |||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ' | ||||||||||||||
Marketable Securities [Text Block] | ' | ||||||||||||||
5.       MARKETABLE SECURITIES | |||||||||||||||
NU maintains a supplemental benefit trust to fund certain non-qualified executive retirement benefit obligations and WMECO maintains a spent nuclear fuel trust to fund WMECO's prior period spent nuclear fuel liability, each of which hold marketable securities. These trusts are not subject to regulatory oversight by state or federal agencies. NU's marketable securities also include legally restricted trusts for the decommissioning of nuclear power plants that are owned by CYAPC and YAEC. | |||||||||||||||
The Company elects to record mutual funds purchased by the NU supplemental benefit trust at fair value. As such, any change in fair value of these mutual funds is reflected in Net Income. These mutual funds, classified as Level 1 in the fair value hierarchy, totaled $54.3 million and $47 million as of September 30, 2013 and December 31, 2012, respectively, and are included in current Marketable Securities. Net gains on these securities of $3 million and $7.3 million for the three and nine months ended September 30, 2013, respectively, were recorded in Other Income, Net on the statements of income. These amounts were net gains of $1.9 million and $4.6 million for the three and nine months ended September 30, 2012, respectively. Dividend income is recorded when dividends are declared and is recorded in Other Income, Net on the statements of income. All other marketable securities are accounted for as available-for-sale. | |||||||||||||||
Available-for-Sale Securities: The following is a summary of NU's available-for-sale securities held in the NU supplemental benefit trust, WMECO's spent nuclear fuel trust and CYAPC's and YAEC's nuclear decommissioning trusts. These securities are recorded at fair value and included in current and long-term Marketable Securities on the balance sheets. | |||||||||||||||
As of September 30, 2013 | |||||||||||||||
Pre-Tax | Pre-Tax | ||||||||||||||
Amortized | Unrealized | Unrealized | |||||||||||||
(Millions of Dollars) | Cost | Gains(1) | Losses(1) | Fair Value | |||||||||||
NU | |||||||||||||||
Debt Securities (2) | $ | 306.1 | $ | 1.5 | $ | -3.8 | $ | 303.8 | |||||||
Equity Securities (2) | 164 | 40.9 | - | 204.9 | |||||||||||
WMECO | |||||||||||||||
Debt Securities | 57.8 | - | - | 57.8 | |||||||||||
As of December 31, 2012 | |||||||||||||||
Pre-Tax | Pre-Tax | ||||||||||||||
Amortized | Unrealized | Unrealized | |||||||||||||
(Millions of Dollars) | Cost | Gains(1) | Losses(1) | Fair Value | |||||||||||
NU | |||||||||||||||
Debt Securities (2) | $ | 266.6 | $ | 13.3 | $ | -0.1 | $ | 279.8 | |||||||
Equity Securities (2) | 145.5 | 20 | - | 165.5 | |||||||||||
WMECO | |||||||||||||||
Debt Securities | 57.7 | 0.1 | -0.1 | 57.7 | |||||||||||
Unrealized gains and losses on debt securities for the NU supplemental benefit trust and WMECO spent nuclear fuel trust are recorded in AOCI and Other Long-Term Assets, respectively, on the balance sheets. | |||||||||||||||
(2)Â Â Â Â Â Â Â NU's amounts include CYAPC's and YAEC's marketable securities held in nuclear decommissioning trusts of $403.1 million and $340.4 million as of September 30, 2013 and December 31, 2012, respectively, the majority of which are legally restricted and can only be used for the decommissioning of the nuclear power plants owned by these companies. In the first quarter of 2013, CYAPC and YAEC received cash from the DOE related to the litigation of storage costs for spent nuclear fuel, which was invested in the nuclear decommissioning trusts. Unrealized gains and losses for the nuclear decommissioning trusts are offset in Other Long-Term Liabilities on the balance sheets, with no impact on the statement of income. All of the equity securities accounted for as available-for-sale securities are held in these trusts. | |||||||||||||||
Unrealized Losses and Other-than-Temporary Impairment: There have been no significant unrealized losses, other-than-temporary impairments or credit losses for the NU supplemental benefit trust, the WMECO spent nuclear fuel trust, and the trusts held by CYAPC and YAEC. Factors considered in determining whether a credit loss exists include the duration and severity of the impairment, adverse conditions specifically affecting the issuer, and the payment history, ratings and rating changes of the security. For asset-backed debt securities, underlying collateral and expected future cash flows are also evaluated. | |||||||||||||||
Realized Gains and Losses: Realized gains and losses on available-for-sale securities are recorded in Other Income, Net for the NU supplemental benefit trust, Other Long-Term Assets for the WMECO spent nuclear fuel trust, and offset in Other Long-Term Liabilities for CYAPC and YAEC. NU utilizes the specific identification basis method for the NU supplemental benefit trust securities and the average cost basis method for the WMECO spent nuclear fuel trust and the CYAPC and YAEC nuclear decommissioning trusts to compute the realized gains and losses on the sale of available-for-sale securities. | |||||||||||||||
Contractual Maturities: As of September 30, 2013, the contractual maturities of available-for-sale debt securities are as follows: | |||||||||||||||
NU | WMECO | ||||||||||||||
Amortized | Amortized | ||||||||||||||
(Millions of Dollars) | Cost | Fair Value | Cost | Fair Value | |||||||||||
Less than one year (1) | $ | 67.1 | $ | 65.3 | $ | 24.4 | $ | 24.6 | |||||||
One to five years | 76 | 76.6 | 26.4 | 26.3 | |||||||||||
Six to ten years | 58.4 | 57.3 | 2.5 | 2.5 | |||||||||||
Greater than ten years | 104.6 | 104.6 | 4.5 | 4.4 | |||||||||||
Total Debt Securities | $ | 306.1 | $ | 303.8 | $ | 57.8 | $ | 57.8 | |||||||
(1)Â Â Â Â Â Â Â Amounts in the Less than one year NU category include securities in the CYAPC and YAEC nuclear decommissioning trusts, which are restricted and are classified in long-term Marketable Securities on the balance sheets. | |||||||||||||||
Fair Value Measurements: The following table presents the marketable securities recorded at fair value on a recurring basis by the level in which they are classified within the fair value hierarchy: | |||||||||||||||
NU | WMECO | ||||||||||||||
As of | As of | ||||||||||||||
(Millions of Dollars) | 30-Sep-13 | 31-Dec-12 | 30-Sep-13 | 31-Dec-12 | |||||||||||
Level 1: | |||||||||||||||
Mutual Funds and Equities | $ | 259.2 | $ | 212.5 | $ | - | $ | - | |||||||
Money Market Funds | 40 | 40.2 | 2.8 | 5.2 | |||||||||||
Total Level 1 | $ | 299.2 | $ | 252.7 | $ | 2.8 | $ | 5.2 | |||||||
Level 2: | |||||||||||||||
U.S. Government Issued Debt Securities | |||||||||||||||
(Agency and Treasury) | $ | 74.9 | $ | 69.9 | $ | 16.6 | $ | 18.7 | |||||||
Corporate Debt Securities | 48.9 | 33 | 15.1 | 7 | |||||||||||
Asset-Backed Debt Securities | 30.4 | 28.5 | 9.6 | 10.9 | |||||||||||
Municipal Bonds | 93.7 | 93.8 | 8.8 | 11.6 | |||||||||||
Other Fixed Income Securities | 15.9 | 14.4 | 4.9 | 4.3 | |||||||||||
Total Level 2 | $ | 263.8 | $ | 239.6 | $ | 55 | $ | 52.5 | |||||||
Total Marketable Securities | $ | 563 | $ | 492.3 | $ | 57.8 | $ | 57.7 | |||||||
U.S. government issued debt securities are valued using market approaches that incorporate transactions for the same or similar bonds and adjustments for yields and maturity dates. Corporate debt securities are valued using a market approach, utilizing recent trades of the same or similar instrument and also incorporating yield curves, credit spreads and specific bond terms and conditions. Asset-backed debt securities include collateralized mortgage obligations, commercial mortgage backed securities, and securities collateralized by auto loans, credit card loans or receivables. Asset-backed debt securities are valued using recent trades of similar instruments, prepayment assumptions, yield curves, issuance and maturity dates and tranche information. Municipal bonds are valued using a market approach that incorporates reported trades and benchmark yields. Other fixed income securities are valued using pricing models, quoted prices of securities with similar characteristics, and discounted cash flows. |
SHORT_TERM_AND_LONG_TERM_DEBT
SHORT TERM AND LONG TERM DEBT | 9 Months Ended |
Sep. 30, 2013 | |
Notes To Consolidated Financial Statements [Abstract] | ' |
Debt Disclosure | ' |
6.       SHORT-TERM AND LONG-TERM DEBT | |
Limits: Â The amount of short-term borrowings that may be incurred by CL&P and WMECO is subject to periodic approval by the FERC. On July 31, 2013, the FERC approved the short-term debt application of CL&P and WMECO for issuances in the amounts of $600 million and $300 million, respectively, effective January 1, 2014 through December 31, 2015. | |
Credit Agreements and Commercial Paper Programs: On September 6, 2013, NU parent, CL&P, NSTAR LLC, NSTAR Gas, PSNH, WMECO and Yankee Gas amended their joint five-year $1.15 billion revolving credit facility dated July 25, 2012, by increasing the aggregate principal amount available thereunder by $300 million to $1.45 billion, extending the expiration date from July 25, 2017 to September 6, 2018, and increasing CL&P's borrowing sublimit from $300 million to $600 million. At the same time, effective September 6, 2013, the CL&P $300 million revolving credit facility was terminated. | |
On September 6, 2013, NSTAR Electric amended its five-year $450 million revolving credit facility dated July 25, 2012 by extending the expiration date from July 25, 2017 to September 6, 2018. | |
On September 6, 2013, the NU parent $1.15 billion commercial paper program was increased by $300 million to $1.45 billion. | |
As of September 30, 2013 and December 31, 2012, NU had approximately $1.2 billion and $1.15 billion, respectively, in short-term borrowings outstanding under the NU parent commercial paper program, which provides $263 million of available borrowing capacity as of September 30, 2013. The weighted-average interest rate on these borrowings as of September 30, 2013 and December 31, 2012 was 0.268 percent and 0.46 percent, respectively, which is generally based on money market rates. As of September 30, 2013, there were intercompany loans from NU of $342.9 million to CL&P, $228.5 million to PSNH and $79.8 million to WMECO. As of December 31, 2012, there were intercompany loans from NU of $405.1 million to CL&P, $63.3 million to PSNH, and $31.9 million to WMECO. As of September 30, 2013 and December 31, 2012, NSTAR Electric had $156 million and $276 million, respectively, in short-term borrowings outstanding under its commercial paper program, leaving $294 million and $174 million, respectively, of available borrowing capacity. The weighted-average interest rate on these borrowings as of September 30, 2013 and December 31, 2012 was 0.134 percent and 0.31 percent, respectively, which is generally based on money market rates. | |
Amounts outstanding under the commercial paper programs are included in Notes Payable for NU and NSTAR Electric and classified in current liabilities on the balance sheets as all borrowings are outstanding for no more than 364 days at one time. Intercompany loans from NU to CL&P, PSNH and WMECO are included in Notes Payable to Affiliated Companies and classified in current liabilities on the balance sheets. | |
Long-Term Debt: On January 15, 2013, CL&P issued $400 million of Series A First and Refunding Mortgage Bonds with a coupon rate of 2.5 percent and a maturity date of January 15, 2023. The proceeds, net of issuance costs, were used to pay short-term borrowings outstanding under the CL&P credit agreement and the NU parent commercial paper program. Therefore, as of December 31, 2012, CL&P's credit agreement borrowings of $89 million and intercompany loans related to the commercial paper program of $305.8 million were classified as Long-Term Debt on the balance sheet. | |
On May 1, 2013, PSNH redeemed at par approximately $109 million of the 2001 Series C PCRBs that were due to mature in 2021 using short-term debt. | |
On May 13, 2013, NU parent issued $750 million of Senior Notes, consisting of $300 million of Series E Senior Notes at a coupon rate of 1.45 percent that will mature on May 1, 2018 and $450 million of Series F Senior Notes at a coupon rate of 2.80 percent that will mature on May 1, 2023. Part of the proceeds, net of issuance costs, was used to repay the NU parent $250 million Series C Senior Notes at a coupon rate of 5.65 percent that matured on June 1, 2013 and the NU parent $300 million floating rate Series D Senior Notes that matured on September 20, 2013. The remaining net proceeds were used to repay commercial paper borrowings and for other general corporate purposes. | |
On May 17, 2013, NSTAR Electric issued $200 million of three-year floating rate debentures due to mature on May 17, 2016. The proceeds, net of issuance costs, were used to repay commercial paper borrowings and for general corporate purposes. The debentures have a coupon rate reset quarterly based on 3-month LIBOR plus a credit spread of 0.24 percent. The interest rate as of September 30, 2013 was 0.5032 percent. | |
On September 1, 2013, WMECO repaid at maturity, $55 million of 5.00 percent Series A Senior Notes using short-term debt. | |
On September 3, 2013, CL&P redeemed at par $125 million of 1.25 percent Series B 2011 PCRBs that were subject to mandatory tender for purchase using short-term debt. | |
On September 20, 2013, NU parent repaid at maturity, $300 million of Floating Rate Series D Senior Notes with proceeds from NU parent's issuance on May 13, 2013 of $750 million of Series E and Series F Senior Notes. | |
On August 29, 2013, NSTAR Electric filed an application with the DPU requesting authorization to issue up to $800 million in long-term debt for the two-year period ending December 31, 2015. | |
On September 26, 2013, the NHPUC issued an order, effective October 8, 2013, approving PSNH's request to issue up to $315 million in long-term debt through December 31, 2014, and to refinance $89.3 million 2001 Series B PCRBs through its existing maturity of May 2021. | |
Working Capital: NU, CL&P, NSTAR Electric, PSNH and WMECO use their available capital resources to fund their respective construction expenditures, meet debt requirements, pay operating costs, including storm-related costs, pay dividends and fund other corporate obligations, such as pension contributions. The current growth in NU's transmission construction expenditures utilizes a significant amount of cash for projects that have a long-term return on investment and recovery period. In addition, NU's Regulated companies operate in an environment where recovery of its electric and natural gas distribution construction expenditures takes place over an extended period of time. This impacts the timing of the revenue stream designed to fully recover the total investment plus a return on the equity portion of the cost and related financing costs. These factors have resulted in current liabilities exceeding current assets by approximately $1.4 billion, $392 million, $315 million, $114 million and $11 million at NU, CL&P, NSTAR Electric, PSNH and WMECO, respectively, as of September 30, 2013. | |
As of September 30, 2013, approximately $577 million of NU's current liabilities related to long-term debt that will be paid in the next 12 months, primarily consisting of $150 million for CL&P, $302 million for NSTAR Electric and $50 million for PSNH. NU, with its strong credit ratings, has several options available in the financial markets to repay or refinance these maturities with the issuance of new long-term debt. NU, CL&P, NSTAR Electric, PSNH and WMECO will reduce their short-term borrowings with cash received from operating cash flows and/or with the issuance of new long-term debt, as deemed appropriate given capital requirements and maintenance of NU's credit rating and profile. Management expects the future operating cash flows of NU, CL&P, NSTAR Electric, PSNH and WMECO along with the access to financial markets, will be sufficient to meet any future operating requirements and forecasted capital investment opportunities. |
PENSION_BENEFITS_AND_POSTRETIR
PENSION BENEFITS AND POSTRETIREMENT BENEFITS OTHER THAN PENSIONS | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ' | ||||||||||||||||||||||||
Pension and Other Postretirement Benefits Disclosure [Text Block] | ' | ||||||||||||||||||||||||
7.       Pension Benefits and Postretirement Benefits Other than Pensions | |||||||||||||||||||||||||
The components of net periodic benefit expense for the Pension Plans (including the SERP Plans) and PBOP Plans, the portion of pension and PBOP amounts capitalized related to employees working on capital projects, and intercompany allocations not included in the net periodic benefit expense are as follows: | |||||||||||||||||||||||||
Pension and SERP | Pension and SERP | ||||||||||||||||||||||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||||||||||||||||
30-Sep-13 | 30-Sep-12 | 30-Sep-13 | 30-Sep-12 | ||||||||||||||||||||||
(Millions of Dollars) | NU | NU | NU | NU | |||||||||||||||||||||
Service Cost | $ | 25.6 | $ | 23 | $ | 76.7 | $ | 61.1 | |||||||||||||||||
Interest Cost | 51.7 | 53.3 | 155 | 144.7 | |||||||||||||||||||||
Expected Return on Plan Assets | -69.5 | -59.5 | -208.5 | -161.3 | |||||||||||||||||||||
Actuarial Loss | 52.4 | 47.4 | 158.1 | 125 | |||||||||||||||||||||
Prior Service Cost | 1.1 | 2 | 3 | 6.1 | |||||||||||||||||||||
Total Net Periodic Benefit Expense | $ | 61.3 | $ | 66.2 | $ | 184.3 | $ | 175.6 | |||||||||||||||||
Capitalized Pension Expense | $ | 18.3 | $ | 19.2 | $ | 54.9 | $ | 49.5 | |||||||||||||||||
PBOP | PBOP | ||||||||||||||||||||||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||||||||||||||||
30-Sep-13 | 30-Sep-12 | 30-Sep-13 | 30-Sep-12 | ||||||||||||||||||||||
(Millions of Dollars) | NU | NU | NU | NU | |||||||||||||||||||||
Service Cost | $ | 4.2 | $ | 4.4 | $ | 12.6 | $ | 11.3 | |||||||||||||||||
Interest Cost | 11.8 | 14.3 | 35.4 | 34.4 | |||||||||||||||||||||
Expected Return on Plan Assets | -13.9 | -11.1 | -41.6 | -28.1 | |||||||||||||||||||||
Actuarial Loss | 6.5 | 10.3 | 19.5 | 25.5 | |||||||||||||||||||||
Prior Service Credit | -0.5 | -0.5 | -1.5 | -0.9 | |||||||||||||||||||||
Net Transition Obligation Cost | - | 3.1 | - | 9 | |||||||||||||||||||||
Total Net Periodic Benefit Expense | $ | 8.1 | $ | 20.5 | $ | 24.4 | $ | 51.2 | |||||||||||||||||
Capitalized PBOP Expense | $ | 2.6 | $ | 5.1 | $ | 7.6 | $ | 14.9 | |||||||||||||||||
Pension and SERP | |||||||||||||||||||||||||
For the Three Months Ended September 30, 2013 | For the Three Months Ended September 30, 2012 | ||||||||||||||||||||||||
NSTAR | NSTAR | ||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric(1) | PSNH | WMECO | CL&P | Electric(1) | PSNH | WMECO | |||||||||||||||||
Service Cost | $ | 6.3 | $ | 8.3 | $ | 3.3 | $ | 1.2 | $ | 5.4 | $ | 7.6 | $ | 2.9 | $ | 1 | |||||||||
Interest Cost | 12.1 | 14.5 | 5.8 | 2.5 | 12.9 | 14.7 | 6.1 | 2.6 | |||||||||||||||||
Expected Return on Plan Assets | -18.4 | -21.1 | -9.2 | -4.3 | -17.7 | -16.4 | -7.2 | -4.1 | |||||||||||||||||
Actuarial Loss | 13.9 | 14.4 | 5.4 | 2.9 | 12.6 | 15.7 | 4.2 | 2.7 | |||||||||||||||||
Prior Service Cost/(Credit) | 0.4 | - | 0.1 | 0.1 | 0.9 | -0.1 | 0.4 | 0.2 | |||||||||||||||||
Total Net Periodic Benefit Expense | $ | 14.3 | $ | 16.1 | $ | 5.4 | $ | 2.4 | $ | 14.1 | $ | 21.5 | $ | 6.4 | $ | 2.4 | |||||||||
Intercompany Allocations | $ | 11.4 | $ | -2.1 | $ | 2.6 | $ | 2 | $ | 10.7 | $ | -3 | $ | 2.4 | $ | 2.1 | |||||||||
Capitalized Pension Expense | $ | 7 | $ | 9.8 | $ | 1.7 | $ | 1.3 | $ | 6.8 | $ | 8.4 | $ | 1.9 | $ | 1.3 | |||||||||
Pension and SERP | |||||||||||||||||||||||||
For the Nine Months Ended September 30, 2013 | For the Nine Months Ended September 30, 2012 | ||||||||||||||||||||||||
NSTAR | NSTAR | ||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric(1) | PSNH | WMECO | CL&P | Electric(1) | PSNH | WMECO | |||||||||||||||||
Service Cost | $ | 18.7 | $ | 24.8 | $ | 9.8 | $ | 3.5 | $ | 16.3 | $ | 22.7 | $ | 8.8 | $ | 3.1 | |||||||||
Interest Cost | 36.3 | 43.5 | 17.8 | 7.5 | 38.5 | 44.2 | 18.3 | 7.9 | |||||||||||||||||
Expected Return on Plan Assets | -55.4 | -63.3 | -26.2 | -13 | -52.8 | -49.2 | -21.1 | -12.3 | |||||||||||||||||
Actuarial Loss | 42 | 43.6 | 16.2 | 8.9 | 37 | 47.3 | 12.1 | 8 | |||||||||||||||||
Prior Service Cost/(Credit) | 1.4 | -0.2 | 0.4 | 0.3 | 2.7 | -0.4 | 1.1 | 0.6 | |||||||||||||||||
Total Net Periodic Benefit Expense | $ | 43 | $ | 48.4 | $ | 18 | $ | 7.2 | $ | 41.7 | $ | 64.6 | $ | 19.2 | $ | 7.3 | |||||||||
Intercompany Allocations | $ | 33.6 | $ | -6.2 | $ | 7.8 | $ | 6 | $ | 32 | $ | -9.2 | $ | 7.5 | $ | 6 | |||||||||
Capitalized Pension Expense | $ | 21 | $ | 21.6 | $ | 5.6 | $ | 3.9 | $ | 20.2 | $ | 23.6 | $ | 5.8 | $ | 3.7 | |||||||||
PBOP | |||||||||||||||||||||||||
For the Three Months Ended September 30, 2013 | For the Three Months Ended September 30, 2012 | ||||||||||||||||||||||||
(Millions of Dollars) | CL&P | PSNH | WMECO | CL&P | PSNH | WMECO | |||||||||||||||||||
Service Cost | $ | 0.9 | $ | 0.6 | $ | 0.2 | $ | 0.8 | $ | 0.5 | $ | 0.1 | |||||||||||||
Interest Cost | 2 | 1 | 0.4 | 2.3 | 1.1 | 0.5 | |||||||||||||||||||
Expected Return on Plan Assets | -2.5 | -1.3 | -0.6 | -2.3 | -1.1 | -0.5 | |||||||||||||||||||
Actuarial Loss | 1.8 | 0.9 | 0.3 | 1.9 | 0.9 | 0.3 | |||||||||||||||||||
Net Transition Obligation Cost | - | - | - | 1.5 | 0.6 | 0.3 | |||||||||||||||||||
Total Net Periodic Benefit Expense | $ | 2.2 | $ | 1.2 | $ | 0.3 | $ | 4.2 | $ | 2 | $ | 0.7 | |||||||||||||
Intercompany Allocations | $ | 1.7 | $ | 0.4 | $ | 0.3 | $ | 2 | $ | 0.5 | $ | 0.4 | |||||||||||||
Capitalized PBOP Expense | $ | 1.3 | $ | 0.4 | $ | 0.3 | $ | 2.1 | $ | 0.6 | $ | 0.4 | |||||||||||||
PBOP | |||||||||||||||||||||||||
For the Nine Months Ended September 30, 2013 | For the Nine Months Ended September 30, 2012 | ||||||||||||||||||||||||
(Millions of Dollars) | CL&P | PSNH | WMECO | CL&P | PSNH | WMECO | |||||||||||||||||||
Service Cost | $ | 2.6 | $ | 1.7 | $ | 0.5 | $ | 2.2 | $ | 1.5 | $ | 0.4 | |||||||||||||
Interest Cost | 5.9 | 3.1 | 1.3 | 6.9 | 3.4 | 1.5 | |||||||||||||||||||
Expected Return on Plan Assets | -7.6 | -3.9 | -1.7 | -6.8 | -3.4 | -1.6 | |||||||||||||||||||
Actuarial Loss | 5.6 | 2.7 | 0.8 | 5.7 | 2.7 | 0.9 | |||||||||||||||||||
Net Transition Obligation Cost | - | - | - | 4.6 | 1.9 | 1.1 | |||||||||||||||||||
Total Net Periodic Benefit Expense | $ | 6.5 | $ | 3.6 | $ | 0.9 | $ | 12.6 | $ | 6.1 | $ | 2.3 | |||||||||||||
Intercompany Allocations | $ | 5.3 | $ | 1.2 | $ | 1 | $ | 5.9 | $ | 1.5 | $ | 1.1 | |||||||||||||
Capitalized PBOP Expense | $ | 3.7 | $ | 1.1 | $ | 0.7 | $ | 6.2 | $ | 1.7 | $ | 1.1 | |||||||||||||
NSTAR Electric's pension amounts do not include SERP expense. NSTAR Electric pension amounts are included in NU consolidated from the date of the merger, April 10, 2012, through September 30, 2012. | |||||||||||||||||||||||||
The net periodic postretirement expense allocated to NSTAR Electric was $1.2 million and $8.5 million for the three months ended September 30, 2013 and 2012, respectively, and $3.5 million and $25.6 million for the nine months ended September 30, 2013 and 2012, respectively. | |||||||||||||||||||||||||
Contributions: For the nine months ended September 30, 2013, NU contributed $202.7 million to the NUSCO Pension Plan, $108.3 million of which was contributed by PSNH, and NSTAR Electric contributed $82 million to the NSTAR Pension Plan. NU contributed $53.6 million to the PBOP Plans for the nine months ended September 30, 2013. |
INCOME_TAXES
INCOME TAXES | 9 Months Ended |
Sep. 30, 2013 | |
Notes To Consolidated Financial Statements [Abstract] | ' |
Income Tax Disclosure [Text Block] | ' |
8.       INCOME TAXES | |
2013 Massachusetts: On July 24, 2013, Massachusetts enacted a law that changes the income tax rate applicable to utility companies effective January 1, 2014, from 6.5 percent to 8 percent. The tax law change required NU to remeasure its deferred taxes and resulted in NU increasing its deferred tax liability with an offsetting regulatory asset of approximately $61 million at its utility companies ($46.4 million at NSTAR Electric and $9.8 million at WMECO). | |
2013 Federal: On September 13, 2013, the Internal Revenue Service issued final Tangible Property regulations. The final regulations are meant to simplify, clarify and make more administrable the previously issued temporary and proposed regulations. In the third quarter of 2013, CL&P recorded an after-tax valuation allowance of $10.5 million against its deferred tax assets as a result of these regulations. NU continues to evaluate the implications of these new regulations, including several new elections. Therefore, a change to the valuation allowance at CL&P could result once NU completes the review of the impact of the final regulations. |
COMMITMENTS_AND_CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ' | ||||||||||||||||||||
Commitments and Contingencies Disclosure [Text Block] | ' | ||||||||||||||||||||
9.       COMMITMENTS AND CONTINGENCIES | |||||||||||||||||||||
A.       Environmental Matters | |||||||||||||||||||||
General: NU, CL&P, NSTAR Electric, PSNH and WMECO are subject to environmental laws and regulations intended to mitigate or remove the effect of past operations and improve or maintain the quality of the environment. These laws and regulations require the removal or the remedy of the effect on the environment of the disposal or release of certain specified hazardous substances at current and former operating sites. NU, CL&P, NSTAR Electric, PSNH and WMECO have an active environmental auditing and training program and believe that they are substantially in compliance with all enacted laws and regulations. | |||||||||||||||||||||
The number of environmental sites and reserves related to these sites for which remediation or long-term monitoring, preliminary site work or site assessment are being performed are as follows: | |||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | ||||||||||||||||||||
Reserve | Reserve | ||||||||||||||||||||
Number of Sites | (in millions) | Number of Sites | (in millions) | ||||||||||||||||||
NU | 68 | $ | 36.5 | 77 | $ | 39.4 | |||||||||||||||
CL&P | 18 | 3.5 | 19 | 3.7 | |||||||||||||||||
NSTAR Electric | 12 | 1.2 | 16 | 1.7 | |||||||||||||||||
PSNH | 15 | 5.6 | 16 | 4.9 | |||||||||||||||||
WMECO | 5 | 0.4 | 6 | 0.6 | |||||||||||||||||
Included in the NU number of sites and reserve amounts above are former MGP sites that were operated several decades ago and manufactured gas from coal and other processes, which resulted in certain by-products remaining in the environment that may pose a potential risk to human health and the environment. The reserve balance related to these former MGP sites was $32.4 million and $34.5 million as of September 30, 2013 and December 31, 2012, respectively, and relates primarily to the natural gas business segment. | |||||||||||||||||||||
B.       Long-Term Contractual Arrangements | |||||||||||||||||||||
Yankee Billings: As a result of the change in forecasted life of spent nuclear fuel decommissioning obligations, as well as proceeds received from the DOE in January 2013 arising from the spent nuclear fuel litigation, estimated future annual costs of Yankee Billings as of September 30, 2013 are reflected in the table below. | |||||||||||||||||||||
Renewable Energy: Renewable energy contracts include non-cancelable commitments under contracts of CL&P for the purchase of energy and capacity from renewable energy facilities. | |||||||||||||||||||||
October - December | |||||||||||||||||||||
(Millions of Dollars) | 2013 | 2014 | 2015 | 2016 | 2017 | Thereafter | Total | ||||||||||||||
Yankee Billings | |||||||||||||||||||||
CL&P | $ | 0.4 | $ | 1.5 | $ | 1.3 | $ | 0.8 | $ | 0.8 | $ | 13.1 | $ | 17.9 | |||||||
NSTAR Electric | 0.2 | 0.7 | 0.5 | 0.2 | 0.3 | 4.5 | 6.4 | ||||||||||||||
PSNH | 0.1 | 0.3 | 0.4 | 0.3 | 0.3 | 5.2 | 6.6 | ||||||||||||||
WMECO | 0.1 | 0.4 | 0.4 | 0.2 | 0.2 | 3.3 | 4.6 | ||||||||||||||
Renewable Energy | |||||||||||||||||||||
CL&P | 1.2 | 49.9 | 50.9 | 51.4 | 52 | 626 | 831.4 | ||||||||||||||
Other Long-Term Renewable Energy Contracts: On September 20, 2013, NSTAR Electric and WMECO, along with two other Massachusetts utilities, signed a long-term commitment, as required by state regulation, to purchase wind power from six wind farms in Maine and New Hampshire for a combined estimated generating capacity of approximately 550 MW. Over the life of the 15- to 20-year contracts, the utilities will pay an average price of less than $0.08 per kWh. On September 19, 2013, CL&P, along with another Connecticut utility, signed long-term commitments, as required by state regulation, to purchase approximately 250 MW of wind power from a Maine wind farm and 20 MW of solar power from sites in Connecticut, at a combined average price of less than $0.08 per kWh. The table above does not include these commitments for the purchase of renewable energy, as such commitments are contingent on the future construction of the respective energy facilities. | |||||||||||||||||||||
C.       Deferred Contractual Obligations | |||||||||||||||||||||
Spent Nuclear Fuel Litigation - DOE Phase I Damages - On May 1, 2013, CYAPC, YAEC and MYAPC filed applications with the FERC to reduce rates in their wholesale power contracts through the application of the DOE proceeds for the benefit of customers. In its June 27, 2013 order, FERC granted the proposed rate reductions, and changes to the terms of the wholesale power contracts to become effective on July 1, 2013. In accordance with the FERC order, CL&P, NSTAR Electric, PSNH and WMECO began receiving the benefit of the DOE proceeds, and the benefits have been or will be passed on to customers. | |||||||||||||||||||||
D.       Guarantees and Indemnifications | |||||||||||||||||||||
NU parent, or NSTAR LLC, as applicable, provides credit assurances on behalf of its subsidiaries, including CL&P, NSTAR Electric, PSNH and WMECO, in the form of guarantees in the normal course of business. | |||||||||||||||||||||
NU provided guarantees and various indemnifications on behalf of external parties as a result of the sales of former subsidiaries of NU Enterprises, with maximum exposures either not specified or not material. | |||||||||||||||||||||
NU also issued a guaranty under which, beginning at the time the Northern Pass Transmission line goes into commercial operation, NU will guarantee the financial obligations of NPT under the TSA in an amount not to exceed $25 million. NU's obligations under the guaranty expire upon the full, final and indefeasible payment of the guaranteed obligations. | |||||||||||||||||||||
Management does not anticipate a material impact to net income or cash flows from operations as a result of these various guarantees and indemnifications. | |||||||||||||||||||||
The following table summarizes NU's guarantees of its subsidiaries, including CL&P, NSTAR Electric, PSNH and WMECO, as of September 30, 2013: | |||||||||||||||||||||
Maximum Exposure | |||||||||||||||||||||
Subsidiary | Description | (in millions) | Expiration Dates | ||||||||||||||||||
Various | Surety Bonds | $ | 33 | 2013 - 2015 (1) | |||||||||||||||||
Various | New England Hydro Companies' Long-Term Debt | $ | 4 | Unspecified | |||||||||||||||||
NUSCO and RRR | Lease Payments for Vehicles and Real Estate | $ | 18.8 | 2019 and 2024 | |||||||||||||||||
NU Enterprises | Surety Bonds, Performance Guarantees and Insurance Bond | $ | 62.3 | -2 | -2 | ||||||||||||||||
(1)Â Â Â Â Â Â Â Surety bond expiration dates reflect termination dates, the majority of which will be renewed or extended. | |||||||||||||||||||||
(2)Â Â Â Â Â Â Â The maximum exposure includes $3.8 million related to performance guarantees on wholesale purchase contracts, which expire December 31, 2013. Also included in the maximum exposure is $57.5 million relating to surety bonds covering ongoing projects, which expire upon project completion. The remaining $1 million is related to an insurance bond with no expiration date that is billed annually. | |||||||||||||||||||||
Many of the underlying contracts that NU parent guarantees, as well as certain surety bonds, contain credit ratings triggers that would require NU parent to post collateral in the event that the unsecured debt credit ratings of NU, or NSTAR LLC, as applicable, are downgraded. | |||||||||||||||||||||
E. FERC Base ROE Complaint | |||||||||||||||||||||
On September 30, 2011, several New England state attorneys general, state regulatory commissions, consumer advocates and other parties filed a joint complaint with the FERC under Sections 206 and 306 of the Federal Power Act alleging that the base ROE used in calculating formula rates for transmission service under the ISO-NE Open Access Transmission Tariff by NETOs, including CL&P, NSTAR Electric, PSNH and WMECO, is unjust and unreasonable. The complainants asserted that the current 11.14 percent rate, which became effective in 2006, is excessive due to changes in the capital markets and are seeking an order to reduce the rate, which would be effective October 1, 2011. In response, the NETOs filed testimony and analysis based on standard FERC methodology and precedent, demonstrating that the base ROE of 11.14 percent remained just and reasonable. The FERC set the case for trial before a FERC ALJ after settlement negotiations were unsuccessful in August 2012. | |||||||||||||||||||||
Hearings before the FERC ALJ were held in May 2013, followed by the filing of briefs by the complainants, the Massachusetts municipal electric utilities (late interveners to the case), the FERC trial staff and the NETOs. The NETOs recommended that the current base ROE of 11.14 percent should remain in effect for the refund period (October 1, 2011 through December 31, 2012) and the prospective period (beginning when FERC issues its final decision). The complainants, the Massachusetts municipal electric utilities, and the FERC trial staff each recommended a base ROE of 9 percent or below. | |||||||||||||||||||||
On August 6, 2013, the FERC ALJ issued an initial decision, finding that the current base ROE is not reasonable under the standard application of FERC methodology, but leaving policy considerations and additional adjustments to the FERC. Using the established FERC methodology, the FERC ALJ determined that a separate base ROE should be set for the refund period and the prospective period. The FERC ALJ found those base ROEs to be 10.6 percent and 9.7 percent, respectively. The FERC may adjust the prospective period base ROE in its final decision to reflect movement in 10-year Treasury bond rates from when the case was filed (April 2013) to the date of the final decision. The parties filed briefs on this decision to the FERC, and a decision from the FERC is expected in 2014. Though NU cannot predict the ultimate outcome of this proceeding, during the third quarter of 2013, the Company recorded a series of reserves at its electric subsidiaries to recognize the potential financial impact from the FERC ALJ's initial decision for the refund period. As a result, the aggregate after-tax charge to earnings totaled $14.3 million at NU. This represents reserves of $7.7 million at CL&P, $3.4 million at NSTAR Electric, $1.4 million at PSNH and $1.8 million at WMECO. | |||||||||||||||||||||
On December 27, 2012, several additional parties filed a separate complaint concerning the NETOs' base ROE with the FERC. This complaint seeks to reduce the NETOs' base ROE effective January 1, 2013, effectively extending the refund period for an additional 15 months, and to consolidate this complaint with the joint complaint filed on September 30, 2011. The NETOs have asked the FERC to reject this complaint. The FERC has not yet acted on, and management is unable to predict the ultimate outcome or the estimated impacts on financial position, results of operations or cash flows, of this complaint. | |||||||||||||||||||||
Management expects the CL&P, NSTAR Electric, PSNH, and WMECO aggregate shareholder equity invested in their transmission facilities to be approximately $2.4 billion at the end of 2013. As a result, each 10 basis point change in the prospective period authorized base ROE would change annual consolidated earnings by an approximate $2.4 million. | |||||||||||||||||||||
F. DPU Safety and Reliability Programs - CPSL | |||||||||||||||||||||
Since 2006, NSTAR Electric has been recovering incremental costs related to the DPU-approved Safety and Reliability Programs. From 2006 through 2011, cumulative costs associated with the CPSL program resulted in an incremental revenue requirement to customers of approximately $83 million. These amounts included incremental operations and maintenance costs and the related revenue requirement for specific capital investments relative to the CPSL programs. | |||||||||||||||||||||
On May 28, 2010, the DPU issued an order on NSTAR Electric's 2006 CPSL cost recovery filing (the May 2010 Order). In October 2010, NSTAR Electric filed a reconciliation of the cumulative CPSL program activity for the periods 2006 through 2009 with the DPU in order to determine a proposed rate adjustment. The DPU allowed the proposed rates to go into effect January 1, 2011, subject to final reconciliation of CPSL program costs through a future DPU proceeding. In February 2013, NSTAR Electric updated the October 2010 filing with final activity through 2011. NSTAR Electric recorded its 2006 through 2011 revenues under the CPSL programs based on the May 2010 Order. | |||||||||||||||||||||
NSTAR Electric cannot predict the timing of a final DPU order related to its CPSL filings for the period 2006 through 2011. While management does not believe that any subsequent DPU order would result in revenues that are materially different than the amounts already recognized, it is reasonably possible that an order could have a material impact on NSTAR Electric's results of operations, financial position and cash flows. | |||||||||||||||||||||
G. Basic Service Bad Debt Adder | |||||||||||||||||||||
In accordance with a generic DPU order, electric utilities in Massachusetts recover the energy-related portion of bad debt costs in their Basic Service rates. In 2007, NSTAR Electric filed its 2006 Basic Service reconciliation with the DPU proposing an adjustment related to the increase of its Basic Service bad debt charge-offs. The DPU issued an order approving the implementation of a revised Basic Service rate but instructed NSTAR Electric to reduce distribution rates by an amount equal to the increase in its Basic Service bad debt charge-offs. This adjustment to NSTAR Electric's distribution rates would eliminate the fully reconciling nature of the Basic Service bad debt adder. | |||||||||||||||||||||
In 2010, NSTAR Electric filed an appeal of the DPU's order with the SJC. In 2012, the SJC vacated the DPU order and remanded the matter to the DPU for further review. | |||||||||||||||||||||
NSTAR Electric deferred approximately $34 million of costs associated with energy-related bad debt as a regulatory asset through 2011 as NSTAR Electric had concluded that it was probable that these costs would ultimately be recovered from customers. Due to the delays and duration of the proceedings, NSTAR Electric concluded that while an ultimate outcome on the matter in its favor remained "more likely than not," it could no longer be deemed "probable." As a result, NSTAR Electric recognized a reserve related to the regulatory asset in the first quarter of 2012. NSTAR Electric will continue to maintain the reserve until the ultimate outcome of the proceeding has been concluded with the DPU. |
FAIR_VALUE_OF_FINANCIAL_INSTRU
FAIR VALUE OF FINANCIAL INSTRUMENTS | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ' | ||||||||||||||||||||||||
Fair Value Disclosures [Text Block] | ' | ||||||||||||||||||||||||
10.       FAIR VALUE OF FINANCIAL INSTRUMENTS | |||||||||||||||||||||||||
The following methods and assumptions were used to estimate the fair value of each of the following financial instruments: | |||||||||||||||||||||||||
Preferred Stock, Long-Term Debt and Rate Reduction Bonds: The fair value of CL&P's and NSTAR Electric's preferred stock is based upon pricing models that incorporate interest rates and other market factors, valuations or trades of similar securities and cash flow projections. The fair value of fixed-rate long-term debt securities and RRBs is based upon pricing models that incorporate quoted market prices for those issues or similar issues adjusted for market conditions, credit ratings of the respective companies and treasury benchmark yields. Adjustable rate long-term debt securities are assumed to have a fair value equal to their carrying value. The fair values provided in the tables below are classified as Level 2 within the fair value hierarchy. Carrying amounts and estimated fair values are as follows: | |||||||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | ||||||||||||||||||||||||
NU | NU | ||||||||||||||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||||||||||||||
(Millions of Dollars) | Amount | Value | Amount | Value | |||||||||||||||||||||
Preferred Stock Not | |||||||||||||||||||||||||
Subject to Mandatory Redemption | $ | 155.6 | $ | 152.2 | $ | 155.6 | $ | 152.2 | |||||||||||||||||
Long-Term Debt | 8,052.50 | 8,267.20 | 7,963.50 | 8,640.70 | |||||||||||||||||||||
Rate Reduction Bonds | - | - | 82.1 | 83 | |||||||||||||||||||||
As of September 30, 2013 | |||||||||||||||||||||||||
CL&P | NSTAR Electric | PSNH | WMECO | ||||||||||||||||||||||
Carrying | Fair | Carrying | Fair | Carrying | Fair | Carrying | Fair | ||||||||||||||||||
(Millions of Dollars) | Amount | Value | Amount | Value | Amount | Value | Amount | Value | |||||||||||||||||
Preferred Stock Not | |||||||||||||||||||||||||
Subject to Mandatory Redemption | $ | 116.2 | $ | 110.3 | $ | 43 | $ | 41.9 | $ | - | $ | - | $ | - | $ | - | |||||||||
Long-Term Debt | 2,741.00 | 2,992.00 | 1,801.00 | 1,881.90 | 889.1 | 934.7 | 549.6 | 562.1 | |||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||
CL&P | NSTAR Electric | PSNH | WMECO | ||||||||||||||||||||||
Carrying | Fair | Carrying | Fair | Carrying | Fair | Carrying | Fair | ||||||||||||||||||
(Millions of Dollars) | Amount | Value | Amount | Value | Amount | Value | Amount | Value | |||||||||||||||||
Preferred Stock Not | |||||||||||||||||||||||||
Subject to Mandatory Redemption | $ | 116.2 | $ | 110 | $ | 43 | $ | 42.2 | $ | - | $ | - | $ | - | $ | - | |||||||||
Long-Term Debt | 2,862.80 | 3,295.40 | 1,602.60 | 1,818.80 | 997.9 | 1,088.00 | 605.3 | 660.4 | |||||||||||||||||
Rate Reduction Bonds | - | - | 43.5 | 43.9 | 29.3 | 29.6 | 9.4 | 9.5 | |||||||||||||||||
Derivative Instruments: Derivative instruments are carried at fair value. For further information, see Note 4, "Derivative Instruments," to the financial statements. | |||||||||||||||||||||||||
Other Financial Instruments: Investments in marketable securities are carried at fair value. For further information, see Note 1D, "Summary of Significant Accounting Policies - Fair Value Measurements," and Note 5, "Marketable Securities," to the financial statements. The carrying value of other financial instruments included in current assets and current liabilities, including cash and cash equivalents and special deposits, approximates their fair value due to the short-term nature of these instruments. |
ACCUMULATED_OTHER_COMPREHENSIV
ACCUMULATED OTHER COMPREHENSIVE INCOME | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ' | ||||||||||||
Comprehensive Income Note [Text Block] | ' | ||||||||||||
11.       ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) | |||||||||||||
The changes in accumulated other comprehensive income/(loss) by component, net of tax, is as follows: | |||||||||||||
For the Nine Months Ended September 30, 2013 | |||||||||||||
(Millions of Dollars) | Qualified Cash Flow Hedging Instruments | Unrealized Gains/(Losses) on Available-for-Sale Securities | Pension, SERP and PBOP Benefit Plans | Total | |||||||||
AOCI as of January 1, 2013 | $Â | -16.4 | $Â | 1.3 | $Â | -57.8 | $Â | -72.9 | |||||
Other Comprehensive Income Before Reclassifications | - | -0.8 | - | -0.8 | |||||||||
Amounts Reclassified from AOCI | 1.5 | - | 4.8 | 6.3 | |||||||||
Net Other Comprehensive Income | 1.5 | -0.8 | 4.8 | 5.5 | |||||||||
AOCI as of September 30, 2013 | $ | -14.9 | $ | 0.5 | $ | -53 | $ | -67.4 | |||||
NU's qualified cash flow hedging instruments represent interest rate swap agreements on debt issuances that were settled in prior years. The settlement amount was recorded in AOCI and is being amortized into Net Income over the term of the underlying debt instrument. CL&P, PSNH and WMECO continue to amortize interest rate swaps settled in prior years from AOCI into Interest Expense over the remaining life of the associated long-term debt, which are not material to their respective financial statements. | |||||||||||||
The following table sets forth the amounts reclassified from AOCI by component and the affected line item on the statements of income: | |||||||||||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||||
30-Sep-13 | 30-Sep-13 | ||||||||||||
Amount Reclassified | Amount Reclassified | Statements of Income | |||||||||||
(Millions of Dollars) | from AOCI | from AOCI | Line Item Impacted | ||||||||||
Qualified Cash Flow Hedging Instruments | $ | -0.8 | $ | -2.5 | Interest Expense | ||||||||
Tax Benefit | 0.3 | 1 | Income Tax Expense | ||||||||||
Qualified Cash Flow Hedging Instruments, Net of Tax | $ | -0.5 | $ | -1.5 | |||||||||
Pension, SERP and PBOP Benefit Plan Costs: | |||||||||||||
Amortization of Actuarial Losses | $ | -2.5 | $ | -7.3 | -1 | ||||||||
Amortization of Prior Service Cost | 0 | -0.1 | -1 | ||||||||||
Total Pension, SERP and PBOP Benefit Plan Costs | -2.5 | -7.4 | -1 | ||||||||||
Tax Benefit | 0.9 | 2.6 | Income Tax Expense | ||||||||||
Pension, SERP and PBOP Benefit Plan Costs, Net of Tax | $ | -1.6 | $ | -4.8 | |||||||||
Total Amount Reclassified from AOCI, Net of Tax | $ | -2.1 | $ | -6.3 | |||||||||
These AOCI amounts are included in the computation of net periodic Pension, SERP and PBOP costs. See Note 7, "Pension Benefits and Postretirement Benefits Other Than Pensions," for further information. | |||||||||||||
COMMON_SHARES
COMMON SHARES | 9 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ' | |||||||||||
Schedule of Stock by Class [Text Block] | ' | |||||||||||
12.       COMMON SHARES | ||||||||||||
The following table sets forth the NU common shares and the shares of CL&P, NSTAR Electric, PSNH and WMECO common stock authorized and issued and the respective par values: | ||||||||||||
Shares | ||||||||||||
Authorized | Issued | |||||||||||
Per Share | As of | As of | ||||||||||
Par Value | 30-Sep-13 | 31-Dec-12 | 30-Sep-13 | 31-Dec-12 | ||||||||
NU | $ | 5 | 380,000,000 | 380,000,000 | 333,019,517 | 332,509,383 | ||||||
CL&P | $ | 10 | 24,500,000 | 24,500,000 | 6,035,205 | 6,035,205 | ||||||
NSTAR Electric | $ | 1 | 100,000,000 | 100,000,000 | 100 | 100 | ||||||
PSNH | $ | 1 | 100,000,000 | 100,000,000 | 301 | 301 | ||||||
WMECO | $ | 25 | 1,072,471 | 1,072,471 | 434,653 | 434,653 | ||||||
As of September 30, 2013 and December 31, 2012, 18,137,017 and 18,455,749 NU common shares were held as treasury shares, respectively. |
COMMON_SHARESHOLDERS_EQUITY_AN
COMMON SHARESHOLDERS' EQUITY AND NONCONTROLLING INTERESTS (NU) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ' | ||||||||||||||||||||
Stockholders' Equity Note Disclosure [Text Block] | ' | ||||||||||||||||||||
13 | COMMON SHAREHOLDERS' EQUITY AND NONCONTROLLING INTERESTS | ||||||||||||||||||||
A summary of the changes in Common Shareholders' Equity and Noncontrolling Interests of NU is as follows: | |||||||||||||||||||||
For the Three Months Ended | |||||||||||||||||||||
30-Sep-13 | 30-Sep-12 | ||||||||||||||||||||
Noncontrolling | Noncontrolling | ||||||||||||||||||||
Interest - | Interest - | ||||||||||||||||||||
Common | Preferred | Common | Non- | Preferred | |||||||||||||||||
Shareholders' | Stock of | Shareholders' | Controlling | Total | Stock of | ||||||||||||||||
(Millions of Dollars) | Equity | Subsidiaries | Equity | Interest | Equity | Subsidiaries | |||||||||||||||
Balance - Beginning of Period | $ | 9,406.60 | $ | 155.6 | $ | 9,067.60 | $ | - | $ | 9,067.60 | $ | 155.6 | |||||||||
Net Income | 211.4 | - | 209.5 | - | 209.5 | - | |||||||||||||||
Dividends on Common Shares | -114.9 | - | -107.6 | - | -107.6 | - | |||||||||||||||
Dividends on Preferred Stock | -1.9 | -1.9 | -1.9 | - | -1.9 | -1.9 | |||||||||||||||
Issuance of Common Shares | 1.4 | - | 0.8 | - | 0.8 | - | |||||||||||||||
Other Transactions, Net | 12.8 | - | 6.3 | - | 6.3 | - | |||||||||||||||
Net Income Attributable to | |||||||||||||||||||||
Noncontrolling Interests | - | 1.9 | - | - | - | 1.9 | |||||||||||||||
Other Comprehensive Income | 2.1 | - | 2.2 | - | 2.2 | - | |||||||||||||||
Balance - End of Period | $ | 9,517.50 | $ | 155.6 | $ | 9,176.90 | $ | - | $ | 9,176.90 | $ | 155.6 | |||||||||
For the Nine Months Ended | |||||||||||||||||||||
30-Sep-13 | 30-Sep-12 | ||||||||||||||||||||
Noncontrolling | Noncontrolling | ||||||||||||||||||||
Interest - | Interest - | ||||||||||||||||||||
Common | Preferred | Common | Non- | Preferred | |||||||||||||||||
Shareholders' | Stock of | Shareholders' | Controlling | Total | Stock of | ||||||||||||||||
(Millions of Dollars) | Equity | Subsidiaries | Equity | Interest | Equity | Subsidiaries | |||||||||||||||
Balance - Beginning of Period | $ | 9,237.10 | $ | 155.6 | $ | 4,012.70 | $ | 3 | $ | 4,015.70 | $ | 116.2 | |||||||||
Net Income | 614.4 | - | 356.5 | - | 356.5 | - | |||||||||||||||
Purchase Price of NSTAR | - | - | 5,038.30 | - | 5,038.30 | - | |||||||||||||||
Other Equity Impacts of | |||||||||||||||||||||
Merger with NSTAR | - | - | 3.4 | -3.4 | - | 39.4 | |||||||||||||||
Dividends on Common Shares | -346.9 | - | -267.8 | - | -267.8 | - | |||||||||||||||
Dividends on Preferred Stock | -5.8 | -5.8 | -5.1 | - | -5.1 | -5.1 | |||||||||||||||
Issuance of Common Shares | 10.2 | - | 12.2 | - | 12.2 | - | |||||||||||||||
Contributions to NPT | - | - | - | 0.3 | 0.3 | - | |||||||||||||||
Other Transactions, Net | 3 | - | 20.3 | - | 20.3 | - | |||||||||||||||
Net Income Attributable to | |||||||||||||||||||||
Noncontrolling Interests | - | 5.8 | -0.1 | 0.1 | - | 5.1 | |||||||||||||||
Other Comprehensive Income | 5.5 | - | 6.5 | - | 6.5 | - | |||||||||||||||
Balance - End of Period | $ | 9,517.50 | $ | 155.6 | $ | 9,176.90 | $ | 0 | $ | 9,176.90 | $ | 155.6 |
EARNINGS_PER_SHARE
EARNINGS PER SHARE | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ' | |||||||||||||
Earnings Per Share [Text Block] | ' | |||||||||||||
14.       EARNINGS PER SHARE | ||||||||||||||
Basic EPS is computed based upon the weighted average number of common shares outstanding during each period. Diluted EPS is computed on the basis of the weighted average number of common shares outstanding plus the potential dilutive effect if certain share-based compensation awards are converted into common shares. There were no antidilutive share awards outstanding for the three months ended September 30, 2013 and 2012. For the nine months ended September 30, 2013 and 2012, there were 2,100 and 5,688, respectively, antidilutive share awards excluded from the computation. | ||||||||||||||
The following table sets forth the components of basic and diluted EPS: | ||||||||||||||
For the Three Months Ended | For the Nine Months Ended | |||||||||||||
(Millions of Dollars, except share information) | 30-Sep-13 | 30-Sep-12 | 30-Sep-13 | 30-Sep-12 | ||||||||||
Net Income Attributable to Controlling Interest | $ | 209.5 | $ | 207.6 | $ | 608.6 | $ | 351.2 | ||||||
Weighted Average Common Shares Outstanding: | ||||||||||||||
Basic | 315,291,346 | 314,806,441 | 315,191,752 | 264,636,636 | ||||||||||
Dilutive Effect | 926,893 | 999,355 | 869,379 | 716,741 | ||||||||||
Diluted | 316,218,239 | 315,805,796 | 316,061,131 | 265,353,377 | ||||||||||
Basic EPS | $ | 0.66 | $ | 0.66 | $ | 1.93 | $ | 1.33 | ||||||
Diluted EPS | $ | 0.66 | $ | 0.66 | $ | 1.93 | $ | 1.32 | ||||||
On April 10, 2012, NU issued approximately 136 million common shares as a result of the merger with NSTAR, which are reflected in weighted average common shares outstanding for all periods presented. | ||||||||||||||
RSUs and performance shares are included in basic weighted average common shares outstanding as of the date that all necessary vesting conditions have been satisfied. The dilutive effect of unvested RSUs and performance shares is calculated using the treasury stock method. Assumed proceeds of these units under the treasury stock method consist of the remaining compensation cost to be recognized and a theoretical tax benefit. The theoretical tax benefit is calculated as the tax impact of the intrinsic value of the units (the difference between the market value of the average units outstanding for the period, using the average market price during the period, and the grant date market value). | ||||||||||||||
The dilutive effect of stock options to purchase common shares is also calculated using the treasury stock method. Assumed proceeds for stock options consist of cash proceeds that would be received upon exercise, and a theoretical tax benefit. The theoretical tax benefit is calculated as the tax impact of the intrinsic value of the stock options (the difference between the market value of the average stock options outstanding for the period, using the average market price during the period, and the exercise price). |
SEGMENT_INFORMATION
SEGMENT INFORMATION | 9 Months Ended | ||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ' | ||||||||||||||||||
Segment Reporting Disclosure [Text Block] | ' | ||||||||||||||||||
15.       SEGMENT INFORMATION | |||||||||||||||||||
Presentation: NU is organized between the Electric Distribution, Electric Transmission and Natural Gas Distribution segments and Other based on a combination of factors, including the characteristics of each segments' products and services, the sources of operating revenues and expenses and the regulatory environment in which each segment operates. These segments represented substantially all of NU's total consolidated revenues for the three and nine months ended September 30, 2013 and 2012. Revenues from the sale of electricity and natural gas primarily are derived from residential, commercial and industrial customers and are not dependent on any single customer. The Electric Distribution segment includes the generation activities of PSNH and WMECO. | |||||||||||||||||||
Other operations in the tables below primarily consists of 1) the equity in earnings of NU parent from its subsidiaries and intercompany interest income, both of which are eliminated in consolidation, and interest income and expense related to the cash and debt of NU parent and NSTAR LLC, respectively, 2) the revenues and expenses of NU's service companies, most of which are eliminated in consolidation, 3) the operations of CYAPC and YAEC, and 4) the results of other subsidiaries, which are comprised of NU Enterprises, NSTAR Communications, Inc., RRR (a real estate subsidiary), the non-energy-related subsidiaries of Yankee and the remaining operations of HWP. | |||||||||||||||||||
Cash flows used for investments in plant included in the segment information below are cash capital expenditures that do not include amounts incurred but not paid, cost of removal, AFUDC related to equity funds, and the capitalized portions of pension expense. | |||||||||||||||||||
NU's reportable segments are the combined Electric Distribution, Electric Transmission and Natural Gas Distribution segments, based upon the level at which NU's chief operating decision maker assesses performance and makes decisions about the allocation of company resources. Each of NU's subsidiaries, including CL&P, NSTAR Electric, PSNH and WMECO, has one reportable segment. Therefore, separate Transmission and Distribution information is not disclosed for CL&P, NSTAR Electric, PSNH or WMECO. NU's operating segments and reporting units are consistent with its reportable business segments. | |||||||||||||||||||
NSTAR amounts are included in NU consolidated as of April 10, 2012. | |||||||||||||||||||
NU's segment information for the three and nine months ended September 30, 2013 and 2012 is as follows: | |||||||||||||||||||
For the Three Months Ended September 30, 2013 | |||||||||||||||||||
Electric | Natural Gas | ||||||||||||||||||
(Millions of Dollars) | Distribution | Distribution | Transmission | Other | Eliminations | Total | |||||||||||||
Operating Revenues | $ | 1,508.60 | $ | 97.1 | $ | 234.1 | $ | 212.5 | $ | -159.7 | $ | 1,892.60 | |||||||
Depreciation and Amortization | -159.6 | -16.4 | -34.5 | -11.2 | 2.6 | -219.1 | |||||||||||||
Other Operating Expenses | -1,064.10 | -89.4 | -73.4 | -206.8 | 159.5 | -1,274.20 | |||||||||||||
Operating Income/(Loss) | 284.9 | -8.7 | 126.2 | -5.5 | 2.4 | 399.3 | |||||||||||||
Net Income/(Loss) Attributable | |||||||||||||||||||
to Controlling Interest | 156.9 | -10.4 | 58.6 | 313.1 | -308.7 | 209.5 | |||||||||||||
For the Nine Months Ended September 30, 2013 | |||||||||||||||||||
Electric | Natural Gas | ||||||||||||||||||
(Millions of Dollars) | Distribution | Distribution | Transmission | Other | Eliminations | Total | |||||||||||||
Operating Revenues | $ | 4,104.40 | $ | 613 | $ | 721.5 | $ | 650.4 | $ | -565.8 | $ | 5,523.50 | |||||||
Depreciation and Amortization | -488.7 | -50.5 | -100.9 | -52 | 7.2 | -684.9 | |||||||||||||
Other Operating Expenses | -2,952.40 | -483.6 | -199.1 | -599 | 564.3 | -3,669.80 | |||||||||||||
Operating Income/(Loss) | 663.3 | 78.9 | 421.5 | -0.6 | 5.7 | 1,168.80 | |||||||||||||
Net Income Attributable | |||||||||||||||||||
to Controlling Interest | 347.5 | 34.1 | 215.4 | 868.7 | -857.1 | 608.6 | |||||||||||||
Cash Flows Used for | |||||||||||||||||||
Investments in Plant | 501.9 | 91.2 | 458.2 | 22.5 | - | 1,073.80 | |||||||||||||
For the Three Months Ended September 30, 2012 | |||||||||||||||||||
Electric | Natural Gas | ||||||||||||||||||
(Millions of Dollars) | Distribution | Distribution | Transmission | Other | Eliminations | Total | |||||||||||||
Operating Revenues | $ | 1,483.70 | $ | 91.3 | $ | 235.6 | $ | 219.5 | $ | -168.6 | $ | 1,861.50 | |||||||
Depreciation and Amortization | -172.6 | -12.6 | -29.7 | -17.5 | 1.1 | -231.3 | |||||||||||||
Other Operating Expenses | -1,027.40 | -77.2 | -66.3 | -216.8 | 170.4 | -1,217.30 | |||||||||||||
Operating Income/(Loss) | 283.7 | 1.5 | 139.6 | -14.8 | 2.9 | 412.9 | |||||||||||||
Net Income/(Loss) Attributable | |||||||||||||||||||
to Controlling Interest | 150.5 | -4.4 | 71.1 | 313.9 | -323.5 | 207.6 | |||||||||||||
For the Nine Months Ended September 30, 2012 | |||||||||||||||||||
Electric | Natural Gas | ||||||||||||||||||
(Millions of Dollars) | Distribution | Distribution | Transmission | Other | Eliminations | Total | |||||||||||||
Operating Revenues | $ | 3,499.70 | $ | 361.5 | $ | 627.2 | $ | 582.9 | $ | -481.5 | $ | 4,589.80 | |||||||
Depreciation and Amortization | -398.1 | -32.7 | -79.5 | -39.1 | 2.6 | -546.8 | |||||||||||||
Other Operating Expenses | -2,654.40 | -292.9 | -179.5 | -614.5 | 485.1 | -3,256.20 | |||||||||||||
Operating Income/(Loss) | 447.2 | 35.9 | 368.2 | -70.7 | 6.2 | 786.8 | |||||||||||||
Net Income Attributable | |||||||||||||||||||
to Controlling Interest | 212.1 | 8.3 | 181.1 | 511.6 | -561.9 | 351.2 | |||||||||||||
Cash Flows Used for | |||||||||||||||||||
Investments in Plant | 461.3 | 105.9 | 476 | 38.6 | - | 1,081.80 | |||||||||||||
The following table summarizes NU's segmented total assets: | |||||||||||||||||||
Electric | Natural Gas | ||||||||||||||||||
(Millions of Dollars) | Distribution | Distribution | Transmission | Other | Eliminations | Total | |||||||||||||
As of September 30, 2013 | 17,912.90 | 2,656.80 | 6,566.10 | 19,446.90 | -18,138.40 | 28,444.30 | |||||||||||||
As of December 31, 2012 | 18,047.30 | 2,717.40 | 6,187.70 | 18,832.60 | -17,482.20 | 28,302.80 |
SIGNIFCANT_ACCOUNTING_POLICIES
SIGNIFCANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
Sep. 30, 2013 | |
Notes To Consolidated Financial Statements [Abstract] | ' |
Organization Consolidation And Presentation Of Financial Statements Disclosure Text Block | ' |
A.       Basis of Presentation | |
NU is a public utility holding company primarily engaged through its wholly owned regulated utility subsidiaries in the energy delivery business. On April 10, 2012, NU acquired 100 percent of the outstanding common shares of NSTAR and its subsidiaries. NU's wholly owned regulated utility subsidiaries consist of CL&P, NSTAR Electric, PSNH, WMECO, Yankee Gas and NSTAR Gas. NU provides energy delivery service to approximately 3.6 million electric and natural gas customers through these six regulated utilities in Connecticut, Massachusetts and New Hampshire. NU's consolidated financial information does not include NSTAR and its subsidiaries' results of operations for the three months ended March 31, 2012. The information disclosed for NSTAR Electric represents its results of operations for the three and nine months ended September 30, 2013 and 2012, presented on a comparable basis. | |
The unaudited condensed consolidated financial statements of NU, NSTAR Electric and PSNH include the accounts of each of their respective subsidiaries. Intercompany transactions have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements of NU, NSTAR Electric and PSNH and the unaudited condensed financial statements of CL&P and WMECO are herein collectively referred to as the "financial statements." | |
The combined notes to the financial statements have been prepared pursuant to the rules and regulations of the SEC. Certain information and footnote disclosures included in annual financial statements prepared in accordance with GAAP have been omitted pursuant to such rules and regulations. The accompanying financial statements should be read in conjunction with the entirety of this combined Quarterly Report on Form 10-Q, the first and second quarter 2013 combined Quarterly Reports on Form 10-Q and the 2012 combined Annual Report on Form 10-K of NU, CL&P, NSTAR Electric, PSNH and WMECO, which were filed with the SEC. The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |
The financial statements contain, in the opinion of management, all adjustments (including normal, recurring adjustments) necessary to present fairly NU's, CL&P's, NSTAR Electric's, PSNH's and WMECO's financial position as of September 30, 2013 and December 31, 2012, the results of operations and comprehensive income for the three and nine months ended September 30, 2013 and 2012, and the cash flows for the nine months ended September 30, 2013 and 2012. The results of operations and comprehensive income for the three and nine months ended September 30, 2013 and 2012, and the cash flows for the nine months ended September 30, 2013 and 2012, are not necessarily indicative of the results expected for a full year. The demand for electricity and natural gas is affected by weather conditions, economic conditions, and consumer conservation (including company-sponsored energy efficiency programs). Electric energy sales and revenues are typically higher in the winter and summer months than in the spring and fall months. Natural gas sales and revenues are typically higher in the winter months than during other periods of the year. | |
NU consolidates CYAPC and YAEC as CL&P's, NSTAR Electric's, PSNH's and WMECO's combined ownership interest in each of these entities is greater than 50 percent. Intercompany transactions between CL&P, NSTAR Electric, PSNH and WMECO and the CYAPC and YAEC companies have been eliminated in consolidation. For CL&P, NSTAR Electric, PSNH and WMECO, the investment in CYAPC and YAEC continue to be accounted for under the equity method. | |
NU's utility subsidiaries are subject to the application of accounting guidance for entities with rate-regulated operations that considers the effect of regulation resulting from differences in the timing of the recognition of certain revenues and expenses from those of other businesses and industries. NU's utility subsidiaries' energy delivery business is subject to rate-regulation that is based on cost recovery and meets the criteria for application of rate-regulated accounting. See Note 2, "Regulatory Accounting," for further information. | |
Certain reclassifications of prior period data were made in the accompanying balance sheets for NU, PSNH and WMECO, and the statements of cash flows for all companies presented. These reclassifications were made to conform to the current period's presentation. | |
Receivables Policy Text Block | ' |
NU, including CL&P, NSTAR Electric, PSNH and WMECO, presents its receivables at net realizable value by maintaining a provision for uncollectible amounts. This provision is determined based upon a variety of factors, including applying an estimated uncollectible account percentage to each receivable aging category, based upon historical collection and write-off experience and management's assessment of collectibility from individual customers. Management assesses the collectibility of receivables, and if circumstances change, collectibility estimates are adjusted accordingly. Receivable balances are written off against the provision for uncollectible accounts when the accounts are terminated and these balances are deemed to be uncollectible. | |
Fair Value Of Financial Instruments Policy | ' |
In measuring fair value, NU uses observable market data when available and minimizes the use of unobservable inputs. Inputs used in fair value measurements are categorized into three fair value hierarchy levels for disclosure purposes. The entire fair value measurement is categorized based on the lowest level of input that is significant to the fair value measurement. NU evaluates the classification of assets and liabilities measured at fair value on a quarterly basis, and NU's policy is to recognize transfers between levels of the fair value hierarchy as of the end of the reporting period. The three levels of the fair value hierarchy are described below: | |
Level 1 - Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. | |
Level 2 - Inputs are quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations in which all significant inputs are observable. | |
Level 3 - Quoted market prices are not available. Fair value is derived from valuation techniques in which one or more significant inputs or assumptions are unobservable. Where possible, valuation techniques incorporate observable market inputs that can be validated to external sources such as industry exchanges, including prices of energy and energy-related products. | |
The following methods and assumptions were used to estimate the fair value of each of the following financial instruments: | |
Preferred Stock, Long-Term Debt and Rate Reduction Bonds: The fair value of CL&P's and NSTAR Electric's preferred stock is based upon pricing models that incorporate interest rates and other market factors, valuations or trades of similar securities and cash flow projections. The fair value of fixed-rate long-term debt securities and RRBs is based upon pricing models that incorporate quoted market prices for those issues or similar issues adjusted for market conditions, credit ratings of the respective companies and treasury benchmark yields. Adjustable rate long-term debt securities are assumed to have a fair value equal to their carrying value. The fair values provided in the tables below are classified as Level 2 within the fair value hierarchy. | |
Other Taxes Policy | 'Gross receipts taxes levied by the state of Connecticut are collected by CL&P and Yankee Gas from their respective customers. These gross receipts taxes are shown on a gross basis with collections in Operating Revenues and payments in Taxes Other Than Income Certain sales taxes are also collected by NU's companies that serve customers in Connecticut and Massachusetts as agents for state and local governments and are recorded on a net basis with no impact on the statements of income. |
Public Utilities Policy Text Block | ' |
The rates charged to the customers of NU's Regulated companies are designed to collect each company's costs to provide service, including a return on investment. Therefore, the accounting policies of the Regulated companies reflect the application of accounting guidance for entities with rate-regulated operations and reflect the effects of the rate-making process. | |
Management believes it is probable that each of the Regulated companies will recover their respective investments in long-lived assets, including regulatory assets. If management were to determine that it could no longer apply the accounting guidance applicable to rate-regulated enterprises to any of the Regulated companies' operations, or that management could not conclude it is probable that costs would be recovered from customers in future rates, the costs would be charged to net income in the period in which the determination is made. | |
Derivatives Policy Text Block | ' |
4.       DERIVATIVE INSTRUMENTS | |
The Regulated companies purchase and procure energy and energy-related products for their customers, which are subject to price volatility. The costs associated with supplying energy to customers are recoverable through customer rates. The Regulated companies manage the risks associated with the price volatility of energy and energy-related products through the use of derivative and nonderivative contracts. Many of the derivative contracts meet the definition of, and are designated as, "normal purchases or normal sales" (normal) under the applicable accounting guidance. | |
Derivative contracts that are not designated as normal are recorded at fair value as current or long-term Derivative Assets or Derivative Liabilities on the balance sheets. For the Regulated companies, Regulatory Assets or Regulatory Liabilities are recorded for the fair values of derivatives, as costs are recovered from, or refunded to, customers in their respective energy supply rates. For NU's remaining unregulated wholesale marketing contracts, changes in fair values of derivatives are included in Net Income. The costs and benefits of derivative contracts that meet the definition of normal are recognized in Operating Expenses or Operating Revenues on the statements of income, as applicable, as electricity or natural gas is delivered. | |
The gross fair values of derivative assets and liabilities with the same counterparty are offset and reported as net Derivative Assets or Derivative Liabilities, with current and long-term portions, on the balance sheets. Cash collateral posted or collected under master netting agreements is recorded as an offset to the derivative asset or liability. | |
Fair Value Measurements of Derivative Instruments | |
Valuation of Derivative Instruments: Derivative contracts classified as Level 2 in the fair value hierarchy relate to the financial contracts for natural gas futures, forward contracts to purchase energy at PSNH and the remaining unregulated wholesale marketing sourcing contracts. Prices are obtained from broker quotes and are based on actual market activity. The contracts are valued using the mid-point of the bid-ask spread. Valuations of these contracts also incorporate discount rates using the yield curve approach. | |
The fair value of derivative contracts classified as Level 3 utilizes significant unobservable inputs. The fair value is modeled using income techniques, such as discounted cash flow approaches adjusted for assumptions relating to exit price. Significant observable inputs for valuations of these contracts include energy and energy-related product prices in future years for which quoted prices in an active market exist. Fair value measurements categorized in Level 3 of the fair value hierarchy are prepared by individuals with expertise in valuation techniques, pricing of energy and energy-related products, and accounting requirements. The future power and capacity prices for periods that are not quoted in an active market or established at auction are based on available market data and are escalated based on estimates of inflation to address the full time period of the contract. | |
Valuations of derivative contracts using discounted cash flow methodology include assumptions regarding the timing and likelihood of scheduled payments and also reflect non-performance risk, including credit, using the default probability approach based on the counterparty's credit rating for assets and the company's credit rating for liabilities. Valuations incorporate estimates of premiums or discounts that would be required by a market participant to arrive at an exit price, using historical market transactions adjusted for the terms of the contract. | |
Marketable Securities Policy | ' |
5.       MARKETABLE SECURITIES | |
NU maintains a supplemental benefit trust to fund certain non-qualified executive retirement benefit obligations and WMECO maintains a spent nuclear fuel trust to fund WMECO's prior period spent nuclear fuel liability, each of which hold marketable securities. These trusts are not subject to regulatory oversight by state or federal agencies. NU's marketable securities also include legally restricted trusts for the decommissioning of nuclear power plants that are owned by CYAPC and YAEC. | |
The Company elects to record mutual funds purchased by the NU supplemental benefit trust at fair value. As such, any change in fair value of these mutual funds is reflected in Net Income. These mutual funds, classified as Level 1 in the fair value hierarchy, totaled $54.3 million and $47 million as of September 30, 2013 and December 31, 2012, respectively, and are included in current Marketable Securities. Net gains on these securities of $3 million and $7.3 million for the three and nine months ended September 30, 2013, respectively, were recorded in Other Income, Net on the statements of income. These amounts were net gains of $1.9 million and $4.6 million for the three and nine months ended September 30, 2012, respectively. Dividend income is recorded when dividends are declared and is recorded in Other Income, Net on the statements of income. All other marketable securities are accounted for as available-for-sale. | |
U.S. government issued debt securities are valued using market approaches that incorporate transactions for the same or similar bonds and adjustments for yields and maturity dates. Corporate debt securities are valued using a market approach, utilizing recent trades of the same or similar instrument and also incorporating yield curves, credit spreads and specific bond terms and conditions. Asset-backed debt securities include collateralized mortgage obligations, commercial mortgage backed securities, and securities collateralized by auto loans, credit card loans or receivables. Asset-backed debt securities are valued using recent trades of similar instruments, prepayment assumptions, yield curves, issuance and maturity dates and tranche information. Municipal bonds are valued using a market approach that incorporates reported trades and benchmark yields. Other fixed income securities are valued using pricing models, quoted prices of securities with similar characteristics, and discounted cash flows. | |
Environmental Costs Policy | ' |
Environmental Matters | |
General: NU, CL&P, NSTAR Electric, PSNH and WMECO are subject to environmental laws and regulations intended to mitigate or remove the effect of past operations and improve or maintain the quality of the environment. These laws and regulations require the removal or the remedy of the effect on the environment of the disposal or release of certain specified hazardous substances at current and former operating sites. NU, CL&P, NSTAR Electric, PSNH and WMECO have an active environmental auditing and training program and believe that they are substantially in compliance with all enacted laws and regulations. | |
Earnings Per Share Policy Text Block | ' |
Basic EPS is computed based upon the weighted average number of common shares outstanding during each period. Diluted EPS is computed on the basis of the weighted average number of common shares outstanding plus the potential dilutive effect if certain share-based compensation awards are converted into common shares. | |
RSUs and performance shares are included in basic weighted average common shares outstanding as of the date that all necessary vesting conditions have been satisfied. The dilutive effect of unvested RSUs and performance shares is calculated using the treasury stock method. Assumed proceeds of these units under the treasury stock method consist of the remaining compensation cost to be recognized and a theoretical tax benefit. The theoretical tax benefit is calculated as the tax impact of the intrinsic value of the units (the difference between the market value of the average units outstanding for the period, using the average market price during the period, and the grant date market value). | |
The dilutive effect of stock options to purchase common shares is also calculated using the treasury stock method. Assumed proceeds for stock options consist of cash proceeds that would be received upon exercise, and a theoretical tax benefit. The theoretical tax benefit is calculated as the tax impact of the intrinsic value of the stock options (the difference between the market value of the average stock options outstanding for the period, using the average market price during the period, and the exercise price). | |
Segment Reporting Policy Policy Text Block | ' |
SEGMENT INFORMATION | |
Presentation: NU is organized between the Electric Distribution, Electric Transmission and Natural Gas Distribution segments and Other based on a combination of factors, including the characteristics of each segments' products and services, the sources of operating revenues and expenses and the regulatory environment in which each segment operates. These segments represented substantially all of NU's total consolidated revenues for the three and nine months ended September 30, 2013 and 2012. Revenues from the sale of electricity and natural gas primarily are derived from residential, commercial and industrial customers and are not dependent on any single customer. The Electric Distribution segment includes the generation activities of PSNH and WMECO. | |
Other operations in the tables below primarily consists of 1) the equity in earnings of NU parent from its subsidiaries and intercompany interest income, both of which are eliminated in consolidation, and interest income and expense related to the cash and debt of NU parent and NSTAR LLC, respectively, 2) the revenues and expenses of NU's service companies, most of which are eliminated in consolidation, 3) the operations of CYAPC and YAEC, and 4) the results of other subsidiaries, which are comprised of NU Enterprises, NSTAR Communications, Inc., RRR (a real estate subsidiary), the non-energy-related subsidiaries of Yankee and the remaining operations of HWP. | |
Cash flows used for investments in plant included in the segment information below are cash capital expenditures that do not include amounts incurred but not paid, cost of removal, AFUDC related to equity funds, and the capitalized portions of pension expense. | |
Provision_for_Uncollectible_Ac
Provision for Uncollectible Accounts (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Notes To Consolidated Financial Statements [Abstract] | ' | |||||||
Schedule Of Accounts Notes Loans And Financing Receivable Text Block | ' | |||||||
(Millions of Dollars) | As of September 30, 2013 | As of December 31, 2012 | ||||||
NU | $ | 182.5 | $ | 165.5 | ||||
CL&P | 85.8 | 77.6 | ||||||
NSTAR Electric | 45.9 | 44.1 | ||||||
PSNH | 7.7 | 6.8 | ||||||
WMECO | 10.4 | 8.5 |
Other_Taxes_Tables
Other Taxes (Tables) | 9 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ' | |||||||||||
State Of Connecticut Gross Earnings Taxes [Table Text Block] | ' | |||||||||||
For the Three Months Ended | For the Nine Months Ended | |||||||||||
(Millions of Dollars) | 30-Sep-13 | 30-Sep-12 | 30-Sep-13 | 30-Sep-12 | ||||||||
NU | $ | 37.5 | $ | 36.4 | $ | 108.9 | $ | 102 | ||||
CL&P | 35.5 | 34.4 | 97.3 | 91.5 |
Supplemental_Cash_Flow_Informa
Supplemental Cash Flow Information (Tables) | 9 Months Ended | |||||||||
Sep. 30, 2013 | ||||||||||
Notes To Consolidated Financial Statements [Abstract] | ' | |||||||||
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | ' | |||||||||
G. | Supplemental Cash Flow Information | |||||||||
Non-cash investing activities include plant additions included in Accounts Payable as follows: | ||||||||||
(Millions of Dollars) | As of September 30, 2013 | As of September 30, 2012 | ||||||||
NU | $ | 122.9 | $ | 139.9 | ||||||
CL&P | 36.6 | 45.9 | ||||||||
NSTAR Electric | 31.9 | 21.5 | ||||||||
PSNH | 16.9 | 20.1 | ||||||||
WMECO | 13.8 | 35.1 |
REGULATORY_ACCOUNTING_Tables
REGULATORY ACCOUNTING (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ' | ||||||||||||||||||||||||
Schedule Of Regulatory Assets Text Block | ' | ||||||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | ||||||||||||||||||||||||
(Millions of Dollars) | NU | NU | |||||||||||||||||||||||
Benefit Costs | $ | 2,256.00 | $ | 2,452.10 | |||||||||||||||||||||
Regulatory Assets Offsetting Derivative Liabilities | 770.3 | 885.6 | |||||||||||||||||||||||
Goodwill | 531.1 | 537.6 | |||||||||||||||||||||||
Storm Restoration Costs | 621 | 547.7 | |||||||||||||||||||||||
Income Taxes, Net | 587.5 | 516.2 | |||||||||||||||||||||||
Securitized Assets | 37.4 | 232.6 | |||||||||||||||||||||||
Contractual Obligations | 170.9 | 217.6 | |||||||||||||||||||||||
Buy Out Agreements for Power Contracts | 76 | 92.9 | |||||||||||||||||||||||
Regulatory Tracker Deferrals | 163.3 | 190.1 | |||||||||||||||||||||||
Asset Retirement Obligations | 93 | 88.8 | |||||||||||||||||||||||
Other Regulatory Assets | 50.1 | 76.2 | |||||||||||||||||||||||
Total Regulatory Assets | 5,356.60 | 5,837.40 | |||||||||||||||||||||||
Less: Current Portion | 474.2 | 705 | |||||||||||||||||||||||
Total Long-Term Regulatory Assets | $ | 4,882.40 | $ | 5,132.40 | |||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | ||||||||||||||||||||||||
NSTAR | NSTAR | ||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | |||||||||||||||||
Benefit Costs | $ | 509.3 | $ | 824.3 | $ | 199.6 | $ | 103.8 | $ | 563.2 | $ | 781.2 | $ | 223.7 | $ | 116 | |||||||||
Regulatory Assets Offsetting | |||||||||||||||||||||||||
Derivative Liabilities | 755.3 | 11.6 | 0.3 | - | 866.2 | 14.9 | - | 3 | |||||||||||||||||
Goodwill | - | 455.9 | - | - | - | 461.5 | - | - | |||||||||||||||||
Storm Restoration Costs | 439.4 | 114 | 27.9 | 39.7 | 413.9 | 55.8 | 34.5 | 43.5 | |||||||||||||||||
Income Taxes, Net | 385.3 | 84.8 | 36.5 | 42.1 | 367.5 | 47.1 | 36.2 | 31 | |||||||||||||||||
Securitized Assets | - | 37.4 | - | - | - | 205.1 | 19.7 | 7.8 | |||||||||||||||||
Contractual Obligations | 20 | 6.4 | - | 4.6 | 64 | 22.8 | - | 14.9 | |||||||||||||||||
Buy Out Agreements for Power Contracts | - | 70.1 | 5.9 | - | - | 85.9 | 7 | - | |||||||||||||||||
Regulatory Tracker Deferrals | - | 83.6 | 52.5 | 21.5 | 12.2 | 71.4 | 49.3 | 31.9 | |||||||||||||||||
Asset Retirement Obligations | 31.1 | 30.7 | 14.7 | 3.7 | 29.4 | 29.4 | 14.2 | 3.5 | |||||||||||||||||
Other Regulatory Assets | 28.7 | 9.2 | 31.7 | 17.2 | 27.9 | 16.9 | 29.4 | 12.6 | |||||||||||||||||
Total Regulatory Assets | 2,169.10 | 1,728.00 | 369.1 | 232.6 | 2,344.30 | 1,792.00 | 414 | 264.2 | |||||||||||||||||
Less: Current Portion | 147.1 | 189.8 | 67.7 | 37.9 | 185.9 | 347.1 | 62.9 | 42.4 | |||||||||||||||||
Total Long-Term Regulatory Assets | $ | 2,022.00 | $ | 1,538.20 | $ | 301.4 | $ | 194.7 | $ | 2,158.40 | $ | 1,444.90 | $ | 351.1 | $ | 221.8 | |||||||||
Schedule Of Regulatory Liabilities Text Block | ' | ||||||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | ||||||||||||||||||||||||
(Millions of Dollars) | NU | NU | |||||||||||||||||||||||
Cost of Removal | $ | 434.3 | $ | 440.8 | |||||||||||||||||||||
Regulatory Tracker Deferrals | 168.6 | 95.1 | |||||||||||||||||||||||
AFUDC - Transmission | 68.3 | 70 | |||||||||||||||||||||||
Other Regulatory Liabilities | 73.9 | 68.4 | |||||||||||||||||||||||
Total Regulatory Liabilities | 745.1 | 674.3 | |||||||||||||||||||||||
Less: Current Portion | 224.4 | 134.1 | |||||||||||||||||||||||
Total Long-Term Regulatory Liabilities | $ | 520.7 | $ | 540.2 | |||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | ||||||||||||||||||||||||
NSTAR | NSTAR | ||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | |||||||||||||||||
Cost of Removal | $ | 31.2 | $ | 247.2 | $ | 49.8 | $ | - | $ | 44.2 | $ | 240.3 | $ | 51.2 | $ | - | |||||||||
Regulatory Tracker Deferrals | 73.2 | 51 | 10.7 | 22.1 | 39.1 | 14.4 | 20.4 | 19 | |||||||||||||||||
AFUDC - Transmission | 55 | 4 | - | 9.3 | 56.6 | 4.1 | - | 9.3 | |||||||||||||||||
Other Regulatory Liabilities | 30.6 | 31.3 | 15.8 | 2.9 | 16.5 | 32.9 | 3.8 | 2.4 | |||||||||||||||||
Total Regulatory Liabilities | 190 | 333.5 | 76.3 | 34.3 | 156.4 | 291.7 | 75.4 | 30.7 | |||||||||||||||||
Less: Current Portion | 82 | 82.5 | 23.4 | 22.4 | 32.1 | 47.5 | 23 | 21 | |||||||||||||||||
Total Long-Term Regulatory Liabilities | $ | 108 | $ | 251 | $ | 52.9 | $ | 11.9 | $ | 124.3 | $ | 244.2 | $ | 52.4 | $ | 9.7 |
PROPERTY_PLANT_AND_ACCUMULATED1
PROPERTY, PLANT AND ACCUMULATED DEPRECIATION (Tables) | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ' | |||||||||||||||||||||||
Schedule of Public Utility Property, Plant, and Equipment [Text Block] | ' | |||||||||||||||||||||||
3.       PROPERTY, PLANT AND EQUIPMENT AND ACCUMULATED DEPRECIATION | ||||||||||||||||||||||||
The following tables summarize the NU, CL&P, NSTAR Electric, PSNH and WMECO investments in utility property, plant and equipment by asset category: | ||||||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | |||||||||||||||||||||||
(Millions of Dollars) | NU | NU | ||||||||||||||||||||||
Distribution - Electric | $ | 11,735.40 | $ | 11,438.20 | ||||||||||||||||||||
Distribution - Natural Gas | 2,352.40 | 2,274.20 | ||||||||||||||||||||||
Transmission | 6,009.00 | 5,541.10 | ||||||||||||||||||||||
Generation | 1,142.10 | 1,146.60 | ||||||||||||||||||||||
Electric and Natural Gas Utility | 21,238.90 | 20,400.10 | ||||||||||||||||||||||
Other (1) | 505.2 | 429.3 | ||||||||||||||||||||||
Property, Plant and Equipment, Gross | 21,744.10 | 20,829.40 | ||||||||||||||||||||||
Less: Accumulated Depreciation | ||||||||||||||||||||||||
Electric and Natural Gas Utility | -5,331.00 | -5,065.10 | ||||||||||||||||||||||
Other | -192.9 | -171.5 | ||||||||||||||||||||||
Total Accumulated Depreciation | -5,523.90 | -5,236.60 | ||||||||||||||||||||||
Property, Plant and Equipment, Net | 16,220.20 | 15,592.80 | ||||||||||||||||||||||
Construction Work in Progress | 967.7 | 1,012.20 | ||||||||||||||||||||||
Total Property, Plant and Equipment, Net | $ | 17,187.90 | $ | 16,605.00 | ||||||||||||||||||||
(1)Â Â Â Â Â Â Â These assets represent unregulated property and are primarily comprised of building improvements at RRR, software, hardware and equipment at NUSCO and telecommunications assets at NSTAR Communications, Inc. | ||||||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | |||||||||||||||||||||||
NSTAR | NSTAR | |||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | ||||||||||||||||
Distribution | $ | 4,836.10 | $ | 4,622.70 | $ | 1,569.70 | $ | 746.3 | $ | 4,691.30 | $ | 4,539.90 | $ | 1,520.10 | $ | 724.2 | ||||||||
Transmission | 2,969.60 | 1,664.50 | 613.2 | 715.8 | 2,796.10 | 1,529.70 | 599.2 | 583.7 | ||||||||||||||||
Generation | - | - | 1,121.00 | 21.1 | - | - | 1,125.50 | 21.1 | ||||||||||||||||
Property, Plant and | ||||||||||||||||||||||||
Equipment, Gross | 7,805.70 | 6,287.20 | 3,303.90 | 1,483.20 | 7,487.40 | 6,069.60 | 3,244.80 | 1,329.00 | ||||||||||||||||
Less: Accumulated Depreciation | -1,778.70 | -1,634.50 | -1,001.70 | -265.7 | -1,698.10 | -1,540.10 | -954 | -252.1 | ||||||||||||||||
Property, Plant and Equipment, Net | 6,027.00 | 4,652.70 | 2,302.20 | 1,217.50 | 5,789.30 | 4,529.50 | 2,290.80 | 1,076.90 | ||||||||||||||||
Construction Work in Progress | 299.2 | 270.7 | 106.8 | 135.2 | 363.7 | 205.8 | 61.7 | 213.6 | ||||||||||||||||
Total Property, Plant and | ||||||||||||||||||||||||
Equipment, Net | $ | 6,326.20 | $ | 4,923.40 | $ | 2,409.00 | $ | 1,352.70 | $ | 6,153.00 | $ | 4,735.30 | $ | 2,352.50 | $ | 1,290.50 |
DERIVATIVE_INSTRUMENTS_Tables
DERIVATIVE INSTRUMENTS (Tables) | 9 Months Ended | ||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ' | ||||||||||||||||||
Schedule Of Derivative Instruments In Statement Of Financial Position Fair Value Text Block | ' | ||||||||||||||||||
As of September 30, 2013 | |||||||||||||||||||
Commodity Supply and | Net Amount Recorded as | ||||||||||||||||||
(Millions of Dollars) | Price Risk Management | Netting (1) | Derivative Asset/(Liability) | ||||||||||||||||
Current Derivative Assets: | |||||||||||||||||||
Level 3: | |||||||||||||||||||
CL&P (1) | $ | 17.3 | $ | -10.1 | $ | 7.2 | |||||||||||||
NSTAR Electric | 0.4 | - | 0.4 | ||||||||||||||||
Other | 1.3 | - | 1.3 | ||||||||||||||||
Total Current Derivative Assets | $ | 19 | $ | -10.1 | $ | 8.9 | |||||||||||||
Long-Term Derivative Assets: | |||||||||||||||||||
Level 3: | |||||||||||||||||||
CL&P (1) | $ | 139.5 | $ | -51.5 | $ | 88 | |||||||||||||
WMECO | 0.9 | - | 0.9 | ||||||||||||||||
Total Long-Term Derivative Assets | $ | 140.4 | $ | -51.5 | $ | 88.9 | |||||||||||||
Current Derivative Liabilities: | |||||||||||||||||||
Level 2: | |||||||||||||||||||
PSNH (1) | $ | -0.5 | $ | 0.2 | $ | -0.3 | |||||||||||||
Other (1) (2) | -7.4 | - | -7.4 | ||||||||||||||||
Level 3: | |||||||||||||||||||
CL&P | -94.1 | - | -94.1 | ||||||||||||||||
NSTAR Electric | -1.6 | - | -1.6 | ||||||||||||||||
WMECO | -0.1 | - | -0.1 | ||||||||||||||||
Total Current Derivative Liabilities | $ | -103.7 | $ | 0.2 | $ | -103.5 | |||||||||||||
Long-Term Derivative Liabilities: | |||||||||||||||||||
Level 3: | |||||||||||||||||||
CL&P | $ | -756.4 | $ | - | $ | -756.4 | |||||||||||||
NSTAR Electric | -10.4 | - | -10.4 | ||||||||||||||||
Total Long-Term Derivative Liabilities | $ | -766.8 | $ | - | $ | -766.8 | |||||||||||||
As of December 31, 2012 | |||||||||||||||||||
Commodity Supply and | Net Amount Recorded as | ||||||||||||||||||
(Millions of Dollars) | Price Risk Management | Netting (1) | Derivative Asset/(Liability) | ||||||||||||||||
Current Derivative Assets: | |||||||||||||||||||
Level 2: | |||||||||||||||||||
Other (1) | $ | 0.2 | $ | - | $ | 0.2 | |||||||||||||
Level 3: | |||||||||||||||||||
CL&P (1) | 17.7 | -12 | 5.7 | ||||||||||||||||
Other | 5.5 | - | 5.5 | ||||||||||||||||
Total Current Derivative Assets | $ | 23.4 | $ | -12 | $ | 11.4 | |||||||||||||
Long-Term Derivative Assets: | |||||||||||||||||||
Level 3: | |||||||||||||||||||
CL&P (1) | $ | 159.7 | $ | -69.1 | $ | 90.6 | |||||||||||||
Total Long-Term Derivative Assets | $ | 159.7 | $ | -69.1 | $ | 90.6 | |||||||||||||
Current Derivative Liabilities: | |||||||||||||||||||
Level 2: | |||||||||||||||||||
Other (1) (2) | $ | -19.9 | $ | 0.6 | $ | -19.3 | |||||||||||||
Level 3: | |||||||||||||||||||
CL&P | -96.9 | - | -96.9 | ||||||||||||||||
NSTAR Electric | -1 | - | -1 | ||||||||||||||||
Total Current Derivative Liabilities | $ | -117.8 | $ | 0.6 | $ | -117.2 | |||||||||||||
Long-Term Derivative Liabilities: | |||||||||||||||||||
Level 2: | |||||||||||||||||||
Other (1) | $ | -0.2 | $ | - | $ | -0.2 | |||||||||||||
Level 3: | |||||||||||||||||||
CL&P | -865.6 | - | -865.6 | ||||||||||||||||
NSTAR Electric | -13.9 | - | -13.9 | ||||||||||||||||
WMECO | -3 | - | -3 | ||||||||||||||||
Total Long-Term Derivative Liabilities | $ | -882.7 | $ | - | $ | -882.7 | |||||||||||||
Schedule Of Derivative Instruments Gain Loss In Statement Of Financial Performance Text Block | ' | ||||||||||||||||||
Location of Amounts | Amounts Recognized on Derivatives | ||||||||||||||||||
Recognized on Derivatives | For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||||||||||||||||
(Millions of Dollars) | 2013 | 2012 | 2013 | 2012 | |||||||||||||||
NU | |||||||||||||||||||
Balance Sheet: | |||||||||||||||||||
Regulatory Assets | $ | 0.3 | $ | 11.7 | $ | 48.8 | $ | -25 | |||||||||||
Statement of Income: | |||||||||||||||||||
Purchased Power, Fuel and Transmission | 0.2 | 0.2 | 0.9 | -0.8 | |||||||||||||||
Schedule Of Credit Risk Contingent Features [Table Text Block] | ' | ||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | ||||||||||||||||||
Additional Collateral | Additional Collateral | ||||||||||||||||||
Fair Value Subject | Required if | Fair Value Subject | Required if | ||||||||||||||||
to Credit Risk | Downgraded Below | to Credit Risk | Downgraded Below | ||||||||||||||||
(Millions of Dollars) | Contingent Features | Investment Grade | Contingent Features | Investment Grade | |||||||||||||||
NU | $ | -6.7 | $ | 13.4 | $ | -15.3 | $ | 17.4 | |||||||||||
Rollforward Of Net Derivative Asset Liabilities Valued Using Unobservable Inputs [Table Text Block] | ' | ||||||||||||||||||
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | ||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||
(Millions of Dollars) | NU | NU | NU | NU | |||||||||||||||
Derivatives, Net: | |||||||||||||||||||
Fair Value as of Beginning of Period | $ | -788.1 | $ | -932.1 | $ | -878.6 | $ | -962.2 | |||||||||||
Liabilities Assumed due to Merger with NSTAR | - | - | - | -5.4 | |||||||||||||||
Transfer to Level 2 | - | - | - | 32.2 | |||||||||||||||
Net Realized/Unrealized Gains/(Losses) Included in: | |||||||||||||||||||
Net Income | 1.2 | -0.2 | 8.3 | 7.2 | |||||||||||||||
Regulatory Assets | 0.8 | 8.5 | 49.6 | -30.1 | |||||||||||||||
Settlements | 21.3 | 21.5 | 55.9 | 56 | |||||||||||||||
Fair Value as of End of Period | $ | -764.8 | $ | -902.3 | $ | -764.8 | $ | -902.3 | |||||||||||
For the Three Months Ended | |||||||||||||||||||
30-Sep-13 | 30-Sep-12 | ||||||||||||||||||
(Millions of Dollars) | CL&P | NSTAR Electric | WMECO | CL&P | NSTAR Electric(1) | WMECO | |||||||||||||
Derivatives, Net: | |||||||||||||||||||
Fair Value as of Beginning of Period | $ | -775.8 | $ | -13.1 | $ | -0.7 | $ | -910.7 | $ | -15.8 | $ | -13.5 | |||||||
Net Realized/Unrealized Gains/(Losses) | |||||||||||||||||||
Included in Regulatory Assets | -1.2 | 0.5 | 1.5 | -2.8 | 1.4 | 9.8 | |||||||||||||
Settlements | 21.7 | 1 | - | 22.6 | 0.6 | - | |||||||||||||
Fair Value as of End of Period | $ | -755.3 | $ | -11.6 | $ | 0.8 | $ | -890.9 | $ | -13.8 | $ | -3.7 | |||||||
For the Nine Months Ended | |||||||||||||||||||
30-Sep-13 | 30-Sep-12 | ||||||||||||||||||
(Millions of Dollars) | CL&P | NSTAR Electric | WMECO | CL&P | NSTAR Electric(1) | WMECO | |||||||||||||
Derivatives, Net: | |||||||||||||||||||
Fair Value as of Beginning of Period | $ | -866.2 | $ | -14.9 | $ | -3 | $ | -931.6 | $ | -3.4 | $ | -7.3 | |||||||
Net Realized/Unrealized Gains/(Losses) | |||||||||||||||||||
Included in Regulatory Assets | 45.1 | 0.6 | 3.8 | -23.8 | -13.2 | 3.6 | |||||||||||||
Settlements | 65.8 | 2.7 | - | 64.5 | 2.8 | - | |||||||||||||
Fair Value as of End of Period | $ | -755.3 | $ | -11.6 | $ | 0.8 | $ | -890.9 | $ | -13.8 | $ | -3.7 | |||||||
Fairvalueinputsliabilitiesquantitativeinformationtabletextblock | ' | ||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | ||||||||||||||||||
Range | Period Covered | Range | Period Covered | ||||||||||||||||
Energy Prices: | |||||||||||||||||||
NU | $45 - $93 per MWh | 2018 - 2029 | $43 - $90 per MWh | 2018 - 2028 | |||||||||||||||
CL&P | $52 - $56 per MWh | 2018 - 2020 | $50 - $55 per MWh | 2018 - 2020 | |||||||||||||||
WMECO | $45 - $93 per MWh | 2018 - 2029 | $43 - $90 per MWh | 2018 - 2028 | |||||||||||||||
Capacity Prices: | |||||||||||||||||||
NU | $1.40 - $10.53 per kW-Month | 2017 - 2029 | $1.40 - $10.53 per kW-Month | 2016 - 2028 | |||||||||||||||
CL&P | $1.40 - $9.51 per kW-Month | 2017 - 2026 | $1.40 - $9.83 per kW-Month | 2016 - 2026 | |||||||||||||||
NSTAR Electric | $1.40 - $3.39 per kW-Month | 2017 - 2019 | $1.40 - $3.39 per kW-Month | 2016 - 2019 | |||||||||||||||
WMECO | $1.40 - $10.53 per kW-Month | 2017 - 2029 | $1.40 - $10.53 per kW-Month | 2016 - 2028 | |||||||||||||||
Forward Reserve: | |||||||||||||||||||
NU, CL&P | $3.00 per kW-Month | 2013 - 2024 | $0.35 - $0.90 per kW-Month | 2013 - 2024 | |||||||||||||||
REC Prices: | |||||||||||||||||||
NU | $25 - $87 per REC | 2013 - 2029 | $25 - $85 per REC | 2013 - 2028 | |||||||||||||||
NSTAR Electric | $25 - $71 per REC | 2013 - 2018 | $25 - $71 per REC | 2013 - 2018 | |||||||||||||||
WMECO | $25 - $87 per REC | 2014 - 2029 | $25 - $85 per REC | 2013 - 2028 |
MARKETABLE_SECURITIES_Tables
MARKETABLE SECURITIES (Tables) | 9 Months Ended | ||||||||||||||
Sep. 30, 2013 | |||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ' | ||||||||||||||
Schedule Of Available For Sale Securities Reconciliation [Table TextBlock] | ' | ||||||||||||||
As of September 30, 2013 | |||||||||||||||
Pre-Tax | Pre-Tax | ||||||||||||||
Amortized | Unrealized | Unrealized | |||||||||||||
(Millions of Dollars) | Cost | Gains(1) | Losses(1) | Fair Value | |||||||||||
NU | |||||||||||||||
Debt Securities (2) | $ | 306.1 | $ | 1.5 | $ | -3.8 | $ | 303.8 | |||||||
Equity Securities (2) | 164 | 40.9 | - | 204.9 | |||||||||||
WMECO | |||||||||||||||
Debt Securities | 57.8 | - | - | 57.8 | |||||||||||
As of December 31, 2012 | |||||||||||||||
Pre-Tax | Pre-Tax | ||||||||||||||
Amortized | Unrealized | Unrealized | |||||||||||||
(Millions of Dollars) | Cost | Gains(1) | Losses(1) | Fair Value | |||||||||||
NU | |||||||||||||||
Debt Securities (2) | $ | 266.6 | $ | 13.3 | $ | -0.1 | $ | 279.8 | |||||||
Equity Securities (2) | 145.5 | 20 | - | 165.5 | |||||||||||
WMECO | |||||||||||||||
Debt Securities | 57.7 | 0.1 | -0.1 | 57.7 | |||||||||||
Investments Classified by Contractual Maturity Date [Table Text Block] | ' | ||||||||||||||
NU | WMECO | ||||||||||||||
Amortized | Amortized | ||||||||||||||
(Millions of Dollars) | Cost | Fair Value | Cost | Fair Value | |||||||||||
Less than one year (1) | $ | 67.1 | $ | 65.3 | $ | 24.4 | $ | 24.6 | |||||||
One to five years | 76 | 76.6 | 26.4 | 26.3 | |||||||||||
Six to ten years | 58.4 | 57.3 | 2.5 | 2.5 | |||||||||||
Greater than ten years | 104.6 | 104.6 | 4.5 | 4.4 | |||||||||||
Total Debt Securities | $ | 306.1 | $ | 303.8 | $ | 57.8 | $ | 57.8 | |||||||
Fair Value Heirarchy [Table Text Block] | ' | ||||||||||||||
NU | WMECO | ||||||||||||||
As of | As of | ||||||||||||||
(Millions of Dollars) | 30-Sep-13 | 31-Dec-12 | 30-Sep-13 | 31-Dec-12 | |||||||||||
Level 1: | |||||||||||||||
Mutual Funds and Equities | $ | 259.2 | $ | 212.5 | $ | - | $ | - | |||||||
Money Market Funds | 40 | 40.2 | 2.8 | 5.2 | |||||||||||
Total Level 1 | $ | 299.2 | $ | 252.7 | $ | 2.8 | $ | 5.2 | |||||||
Level 2: | |||||||||||||||
U.S. Government Issued Debt Securities | |||||||||||||||
(Agency and Treasury) | $ | 74.9 | $ | 69.9 | $ | 16.6 | $ | 18.7 | |||||||
Corporate Debt Securities | 48.9 | 33 | 15.1 | 7 | |||||||||||
Asset-Backed Debt Securities | 30.4 | 28.5 | 9.6 | 10.9 | |||||||||||
Municipal Bonds | 93.7 | 93.8 | 8.8 | 11.6 | |||||||||||
Other Fixed Income Securities | 15.9 | 14.4 | 4.9 | 4.3 | |||||||||||
Total Level 2 | $ | 263.8 | $ | 239.6 | $ | 55 | $ | 52.5 | |||||||
Total Marketable Securities | $ | 563 | $ | 492.3 | $ | 57.8 | $ | 57.7 |
Recovered_Sheet1
Pension Benefits and Postretirement Benefits Other Than Pensions (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ' | ||||||||||||||||||||||||
Schedule Of Net Benefit Costs [Table Text Block] | ' | ||||||||||||||||||||||||
Pension and SERP | Pension and SERP | ||||||||||||||||||||||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||||||||||||||||
30-Sep-13 | 30-Sep-12 | 30-Sep-13 | 30-Sep-12 | ||||||||||||||||||||||
(Millions of Dollars) | NU | NU | NU | NU | |||||||||||||||||||||
Service Cost | $ | 25.6 | $ | 23 | $ | 76.7 | $ | 61.1 | |||||||||||||||||
Interest Cost | 51.7 | 53.3 | 155 | 144.7 | |||||||||||||||||||||
Expected Return on Plan Assets | -69.5 | -59.5 | -208.5 | -161.3 | |||||||||||||||||||||
Actuarial Loss | 52.4 | 47.4 | 158.1 | 125 | |||||||||||||||||||||
Prior Service Cost | 1.1 | 2 | 3 | 6.1 | |||||||||||||||||||||
Total Net Periodic Benefit Expense | $ | 61.3 | $ | 66.2 | $ | 184.3 | $ | 175.6 | |||||||||||||||||
Capitalized Pension Expense | $ | 18.3 | $ | 19.2 | $ | 54.9 | $ | 49.5 | |||||||||||||||||
PBOP | PBOP | ||||||||||||||||||||||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||||||||||||||||
30-Sep-13 | 30-Sep-12 | 30-Sep-13 | 30-Sep-12 | ||||||||||||||||||||||
(Millions of Dollars) | NU | NU | NU | NU | |||||||||||||||||||||
Service Cost | $ | 4.2 | $ | 4.4 | $ | 12.6 | $ | 11.3 | |||||||||||||||||
Interest Cost | 11.8 | 14.3 | 35.4 | 34.4 | |||||||||||||||||||||
Expected Return on Plan Assets | -13.9 | -11.1 | -41.6 | -28.1 | |||||||||||||||||||||
Actuarial Loss | 6.5 | 10.3 | 19.5 | 25.5 | |||||||||||||||||||||
Prior Service Credit | -0.5 | -0.5 | -1.5 | -0.9 | |||||||||||||||||||||
Net Transition Obligation Cost | - | 3.1 | - | 9 | |||||||||||||||||||||
Total Net Periodic Benefit Expense | $ | 8.1 | $ | 20.5 | $ | 24.4 | $ | 51.2 | |||||||||||||||||
Capitalized PBOP Expense | $ | 2.6 | $ | 5.1 | $ | 7.6 | $ | 14.9 | |||||||||||||||||
Pension and SERP | |||||||||||||||||||||||||
For the Three Months Ended September 30, 2013 | For the Three Months Ended September 30, 2012 | ||||||||||||||||||||||||
NSTAR | NSTAR | ||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric(1) | PSNH | WMECO | CL&P | Electric(1) | PSNH | WMECO | |||||||||||||||||
Service Cost | $ | 6.3 | $ | 8.3 | $ | 3.3 | $ | 1.2 | $ | 5.4 | $ | 7.6 | $ | 2.9 | $ | 1 | |||||||||
Interest Cost | 12.1 | 14.5 | 5.8 | 2.5 | 12.9 | 14.7 | 6.1 | 2.6 | |||||||||||||||||
Expected Return on Plan Assets | -18.4 | -21.1 | -9.2 | -4.3 | -17.7 | -16.4 | -7.2 | -4.1 | |||||||||||||||||
Actuarial Loss | 13.9 | 14.4 | 5.4 | 2.9 | 12.6 | 15.7 | 4.2 | 2.7 | |||||||||||||||||
Prior Service Cost/(Credit) | 0.4 | - | 0.1 | 0.1 | 0.9 | -0.1 | 0.4 | 0.2 | |||||||||||||||||
Total Net Periodic Benefit Expense | $ | 14.3 | $ | 16.1 | $ | 5.4 | $ | 2.4 | $ | 14.1 | $ | 21.5 | $ | 6.4 | $ | 2.4 | |||||||||
Intercompany Allocations | $ | 11.4 | $ | -2.1 | $ | 2.6 | $ | 2 | $ | 10.7 | $ | -3 | $ | 2.4 | $ | 2.1 | |||||||||
Capitalized Pension Expense | $ | 7 | $ | 9.8 | $ | 1.7 | $ | 1.3 | $ | 6.8 | $ | 8.4 | $ | 1.9 | $ | 1.3 | |||||||||
Pension and SERP | |||||||||||||||||||||||||
For the Nine Months Ended September 30, 2013 | For the Nine Months Ended September 30, 2012 | ||||||||||||||||||||||||
NSTAR | NSTAR | ||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric(1) | PSNH | WMECO | CL&P | Electric(1) | PSNH | WMECO | |||||||||||||||||
Service Cost | $ | 18.7 | $ | 24.8 | $ | 9.8 | $ | 3.5 | $ | 16.3 | $ | 22.7 | $ | 8.8 | $ | 3.1 | |||||||||
Interest Cost | 36.3 | 43.5 | 17.8 | 7.5 | 38.5 | 44.2 | 18.3 | 7.9 | |||||||||||||||||
Expected Return on Plan Assets | -55.4 | -63.3 | -26.2 | -13 | -52.8 | -49.2 | -21.1 | -12.3 | |||||||||||||||||
Actuarial Loss | 42 | 43.6 | 16.2 | 8.9 | 37 | 47.3 | 12.1 | 8 | |||||||||||||||||
Prior Service Cost/(Credit) | 1.4 | -0.2 | 0.4 | 0.3 | 2.7 | -0.4 | 1.1 | 0.6 | |||||||||||||||||
Total Net Periodic Benefit Expense | $ | 43 | $ | 48.4 | $ | 18 | $ | 7.2 | $ | 41.7 | $ | 64.6 | $ | 19.2 | $ | 7.3 | |||||||||
Intercompany Allocations | $ | 33.6 | $ | -6.2 | $ | 7.8 | $ | 6 | $ | 32 | $ | -9.2 | $ | 7.5 | $ | 6 | |||||||||
Capitalized Pension Expense | $ | 21 | $ | 21.6 | $ | 5.6 | $ | 3.9 | $ | 20.2 | $ | 23.6 | $ | 5.8 | $ | 3.7 | |||||||||
PBOP | |||||||||||||||||||||||||
For the Three Months Ended September 30, 2013 | For the Three Months Ended September 30, 2012 | ||||||||||||||||||||||||
(Millions of Dollars) | CL&P | PSNH | WMECO | CL&P | PSNH | WMECO | |||||||||||||||||||
Service Cost | $ | 0.9 | $ | 0.6 | $ | 0.2 | $ | 0.8 | $ | 0.5 | $ | 0.1 | |||||||||||||
Interest Cost | 2 | 1 | 0.4 | 2.3 | 1.1 | 0.5 | |||||||||||||||||||
Expected Return on Plan Assets | -2.5 | -1.3 | -0.6 | -2.3 | -1.1 | -0.5 | |||||||||||||||||||
Actuarial Loss | 1.8 | 0.9 | 0.3 | 1.9 | 0.9 | 0.3 | |||||||||||||||||||
Net Transition Obligation Cost | - | - | - | 1.5 | 0.6 | 0.3 | |||||||||||||||||||
Total Net Periodic Benefit Expense | $ | 2.2 | $ | 1.2 | $ | 0.3 | $ | 4.2 | $ | 2 | $ | 0.7 | |||||||||||||
Intercompany Allocations | $ | 1.7 | $ | 0.4 | $ | 0.3 | $ | 2 | $ | 0.5 | $ | 0.4 | |||||||||||||
Capitalized PBOP Expense | $ | 1.3 | $ | 0.4 | $ | 0.3 | $ | 2.1 | $ | 0.6 | $ | 0.4 | |||||||||||||
PBOP | |||||||||||||||||||||||||
For the Nine Months Ended September 30, 2013 | For the Nine Months Ended September 30, 2012 | ||||||||||||||||||||||||
(Millions of Dollars) | CL&P | PSNH | WMECO | CL&P | PSNH | WMECO | |||||||||||||||||||
Service Cost | $ | 2.6 | $ | 1.7 | $ | 0.5 | $ | 2.2 | $ | 1.5 | $ | 0.4 | |||||||||||||
Interest Cost | 5.9 | 3.1 | 1.3 | 6.9 | 3.4 | 1.5 | |||||||||||||||||||
Expected Return on Plan Assets | -7.6 | -3.9 | -1.7 | -6.8 | -3.4 | -1.6 | |||||||||||||||||||
Actuarial Loss | 5.6 | 2.7 | 0.8 | 5.7 | 2.7 | 0.9 | |||||||||||||||||||
Net Transition Obligation Cost | - | - | - | 4.6 | 1.9 | 1.1 | |||||||||||||||||||
Total Net Periodic Benefit Expense | $ | 6.5 | $ | 3.6 | $ | 0.9 | $ | 12.6 | $ | 6.1 | $ | 2.3 | |||||||||||||
Intercompany Allocations | $ | 5.3 | $ | 1.2 | $ | 1 | $ | 5.9 | $ | 1.5 | $ | 1.1 | |||||||||||||
Capitalized PBOP Expense | $ | 3.7 | $ | 1.1 | $ | 0.7 | $ | 6.2 | $ | 1.7 | $ | 1.1 |
Environmental_Matters_Tablels
Environmental Matters (Tablels) | 9 Months Ended | ||||||||||||||
Sep. 30, 2013 | |||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ' | ||||||||||||||
Schedule Of Environmental Loss Contingencies By Site Text Block | ' | ||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | ||||||||||||||
Reserve | Reserve | ||||||||||||||
Number of Sites | (in millions) | Number of Sites | (in millions) | ||||||||||||
NU | 68 | $ | 36.5 | 77 | $ | 39.4 | |||||||||
CL&P | 18 | 3.5 | 19 | 3.7 | |||||||||||
NSTAR Electric | 12 | 1.2 | 16 | 1.7 | |||||||||||
PSNH | 15 | 5.6 | 16 | 4.9 | |||||||||||
WMECO | 5 | 0.4 | 6 | 0.6 |
LongTerm_Contractual_Arrangeme
Long-Term Contractual Arrangements (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ' | ||||||||||||||||||||
Long-term Purchase Commitment [Table Text Block] | ' | ||||||||||||||||||||
October - December | |||||||||||||||||||||
(Millions of Dollars) | 2013 | 2014 | 2015 | 2016 | 2017 | Thereafter | Total | ||||||||||||||
Yankee Billings | |||||||||||||||||||||
CL&P | $ | 0.4 | $ | 1.5 | $ | 1.3 | $ | 0.8 | $ | 0.8 | $ | 13.1 | $ | 17.9 | |||||||
NSTAR Electric | 0.2 | 0.7 | 0.5 | 0.2 | 0.3 | 4.5 | 6.4 | ||||||||||||||
PSNH | 0.1 | 0.3 | 0.4 | 0.3 | 0.3 | 5.2 | 6.6 | ||||||||||||||
WMECO | 0.1 | 0.4 | 0.4 | 0.2 | 0.2 | 3.3 | 4.6 | ||||||||||||||
Renewable Energy | |||||||||||||||||||||
CL&P | 1.2 | 49.9 | 50.9 | 51.4 | 52 | 626 | 831.4 |
Guarantees_and_Indemnification
Guarantees and Indemnifications (Tables) | 9 Months Ended | |||||||||
Sep. 30, 2013 | ||||||||||
Notes To Consolidated Financial Statements [Abstract] | ' | |||||||||
Schedule Of Guarantee Obligations Text Block | ' | |||||||||
Maximum Exposure | ||||||||||
Subsidiary | Description | (in millions) | Expiration Dates | |||||||
Various | Surety Bonds | $ | 33 | 2013 - 2015 (1) | ||||||
Various | New England Hydro Companies' Long-Term Debt | $ | 4 | Unspecified | ||||||
NUSCO and RRR | Lease Payments for Vehicles and Real Estate | $ | 18.8 | 2019 and 2024 | ||||||
NU Enterprises | Surety Bonds, Performance Guarantees and Insurance Bond | $ | 62.3 | -2 | -2 |
FAIR_VALUE_OF_FINANCIAL_INSTRU1
FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ' | ||||||||||||||||||||||||
Fair Value By Balance Sheet Grouping Text Block | ' | ||||||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | ||||||||||||||||||||||||
NU | NU | ||||||||||||||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||||||||||||||
(Millions of Dollars) | Amount | Value | Amount | Value | |||||||||||||||||||||
Preferred Stock Not | |||||||||||||||||||||||||
Subject to Mandatory Redemption | $ | 155.6 | $ | 152.2 | $ | 155.6 | $ | 152.2 | |||||||||||||||||
Long-Term Debt | 8,052.50 | 8,267.20 | 7,963.50 | 8,640.70 | |||||||||||||||||||||
Rate Reduction Bonds | - | - | 82.1 | 83 | |||||||||||||||||||||
As of September 30, 2013 | |||||||||||||||||||||||||
CL&P | NSTAR Electric | PSNH | WMECO | ||||||||||||||||||||||
Carrying | Fair | Carrying | Fair | Carrying | Fair | Carrying | Fair | ||||||||||||||||||
(Millions of Dollars) | Amount | Value | Amount | Value | Amount | Value | Amount | Value | |||||||||||||||||
Preferred Stock Not | |||||||||||||||||||||||||
Subject to Mandatory Redemption | $ | 116.2 | $ | 110.3 | $ | 43 | $ | 41.9 | $ | - | $ | - | $ | - | $ | - | |||||||||
Long-Term Debt | 2,741.00 | 2,992.00 | 1,801.00 | 1,881.90 | 889.1 | 934.7 | 549.6 | 562.1 | |||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||
CL&P | NSTAR Electric | PSNH | WMECO | ||||||||||||||||||||||
Carrying | Fair | Carrying | Fair | Carrying | Fair | Carrying | Fair | ||||||||||||||||||
(Millions of Dollars) | Amount | Value | Amount | Value | Amount | Value | Amount | Value | |||||||||||||||||
Preferred Stock Not | |||||||||||||||||||||||||
Subject to Mandatory Redemption | $ | 116.2 | $ | 110 | $ | 43 | $ | 42.2 | $ | - | $ | - | $ | - | $ | - | |||||||||
Long-Term Debt | 2,862.80 | 3,295.40 | 1,602.60 | 1,818.80 | 997.9 | 1,088.00 | 605.3 | 660.4 | |||||||||||||||||
Rate Reduction Bonds | - | - | 43.5 | 43.9 | 29.3 | 29.6 | 9.4 | 9.5 |
ACCUMULATED_OTHER_COMPREHENSIV1
ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ' | ||||||||||||
Schedule Of Accumulated Other Comprehensive Income Loss Table Text Block | ' | ||||||||||||
For the Nine Months Ended September 30, 2013 | |||||||||||||
(Millions of Dollars) | Qualified Cash Flow Hedging Instruments | Unrealized Gains/(Losses) on Available-for-Sale Securities | Pension, SERP and PBOP Benefit Plans | Total | |||||||||
AOCI as of January 1, 2013 | $Â | -16.4 | $Â | 1.3 | $Â | -57.8 | $Â | -72.9 | |||||
Other Comprehensive Income Before Reclassifications | - | -0.8 | - | -0.8 | |||||||||
Amounts Reclassified from AOCI | 1.5 | - | 4.8 | 6.3 | |||||||||
Net Other Comprehensive Income | 1.5 | -0.8 | 4.8 | 5.5 | |||||||||
AOCI as of September 30, 2013 | $ | -14.9 | $ | 0.5 | $ | -53 | $ | -67.4 | |||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||||
30-Sep-13 | 30-Sep-13 | ||||||||||||
Amount Reclassified | Amount Reclassified | Statements of Income | |||||||||||
(Millions of Dollars) | from AOCI | from AOCI | Line Item Impacted | ||||||||||
Qualified Cash Flow Hedging Instruments | $ | -0.8 | $ | -2.5 | Interest Expense | ||||||||
Tax Benefit | 0.3 | 1 | Income Tax Expense | ||||||||||
Qualified Cash Flow Hedging Instruments, Net of Tax | $ | -0.5 | $ | -1.5 | |||||||||
Pension, SERP and PBOP Benefit Plan Costs: | |||||||||||||
Amortization of Actuarial Losses | $ | -2.5 | $ | -7.3 | -1 | ||||||||
Amortization of Prior Service Cost | 0 | -0.1 | -1 | ||||||||||
Total Pension, SERP and PBOP Benefit Plan Costs | -2.5 | -7.4 | -1 | ||||||||||
Tax Benefit | 0.9 | 2.6 | Income Tax Expense | ||||||||||
Pension, SERP and PBOP Benefit Plan Costs, Net of Tax | $ | -1.6 | $ | -4.8 | |||||||||
Total Amount Reclassified from AOCI, Net of Tax | $ | -2.1 | $ | -6.3 |
COMMON_SHARES_Tables
COMMON SHARES (Tables) | 9 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ' | |||||||||||
Schedule of Stock by Class [Text Block] | ' | |||||||||||
12.       COMMON SHARES | ||||||||||||
The following table sets forth the NU common shares and the shares of CL&P, NSTAR Electric, PSNH and WMECO common stock authorized and issued and the respective par values: | ||||||||||||
Shares | ||||||||||||
Authorized | Issued | |||||||||||
Per Share | As of | As of | ||||||||||
Par Value | 30-Sep-13 | 31-Dec-12 | 30-Sep-13 | 31-Dec-12 | ||||||||
NU | $ | 5 | 380,000,000 | 380,000,000 | 333,019,517 | 332,509,383 | ||||||
CL&P | $ | 10 | 24,500,000 | 24,500,000 | 6,035,205 | 6,035,205 | ||||||
NSTAR Electric | $ | 1 | 100,000,000 | 100,000,000 | 100 | 100 | ||||||
PSNH | $ | 1 | 100,000,000 | 100,000,000 | 301 | 301 | ||||||
WMECO | $ | 25 | 1,072,471 | 1,072,471 | 434,653 | 434,653 | ||||||
As of September 30, 2013 and December 31, 2012, 18,137,017 and 18,455,749 NU common shares were held as treasury shares, respectively. |
COMMON_SHARESHOLDERS_EQUITY_AN1
COMMON SHARESHOLDERS' EQUITY AND NONCONTROLLING INTERESTS (NU) (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ' | ||||||||||||||||||||
Minority Interest Disclosure Text Block | ' | ||||||||||||||||||||
13 | COMMON SHAREHOLDERS' EQUITY AND NONCONTROLLING INTERESTS | ||||||||||||||||||||
A summary of the changes in Common Shareholders' Equity and Noncontrolling Interests of NU is as follows: | |||||||||||||||||||||
For the Three Months Ended | |||||||||||||||||||||
30-Sep-13 | 30-Sep-12 | ||||||||||||||||||||
Noncontrolling | Noncontrolling | ||||||||||||||||||||
Interest - | Interest - | ||||||||||||||||||||
Common | Preferred | Common | Non- | Preferred | |||||||||||||||||
Shareholders' | Stock of | Shareholders' | Controlling | Total | Stock of | ||||||||||||||||
(Millions of Dollars) | Equity | Subsidiaries | Equity | Interest | Equity | Subsidiaries | |||||||||||||||
Balance - Beginning of Period | $ | 9,406.60 | $ | 155.6 | $ | 9,067.60 | $ | - | $ | 9,067.60 | $ | 155.6 | |||||||||
Net Income | 211.4 | - | 209.5 | - | 209.5 | - | |||||||||||||||
Dividends on Common Shares | -114.9 | - | -107.6 | - | -107.6 | - | |||||||||||||||
Dividends on Preferred Stock | -1.9 | -1.9 | -1.9 | - | -1.9 | -1.9 | |||||||||||||||
Issuance of Common Shares | 1.4 | - | 0.8 | - | 0.8 | - | |||||||||||||||
Other Transactions, Net | 12.8 | - | 6.3 | - | 6.3 | - | |||||||||||||||
Net Income Attributable to | |||||||||||||||||||||
Noncontrolling Interests | - | 1.9 | - | - | - | 1.9 | |||||||||||||||
Other Comprehensive Income | 2.1 | - | 2.2 | - | 2.2 | - | |||||||||||||||
Balance - End of Period | $ | 9,517.50 | $ | 155.6 | $ | 9,176.90 | $ | - | $ | 9,176.90 | $ | 155.6 | |||||||||
For the Nine Months Ended | |||||||||||||||||||||
30-Sep-13 | 30-Sep-12 | ||||||||||||||||||||
Noncontrolling | Noncontrolling | ||||||||||||||||||||
Interest - | Interest - | ||||||||||||||||||||
Common | Preferred | Common | Non- | Preferred | |||||||||||||||||
Shareholders' | Stock of | Shareholders' | Controlling | Total | Stock of | ||||||||||||||||
(Millions of Dollars) | Equity | Subsidiaries | Equity | Interest | Equity | Subsidiaries | |||||||||||||||
Balance - Beginning of Period | $ | 9,237.10 | $ | 155.6 | $ | 4,012.70 | $ | 3 | $ | 4,015.70 | $ | 116.2 | |||||||||
Net Income | 614.4 | - | 356.5 | - | 356.5 | - | |||||||||||||||
Purchase Price of NSTAR | - | - | 5,038.30 | - | 5,038.30 | - | |||||||||||||||
Other Equity Impacts of | |||||||||||||||||||||
Merger with NSTAR | - | - | 3.4 | -3.4 | - | 39.4 | |||||||||||||||
Dividends on Common Shares | -346.9 | - | -267.8 | - | -267.8 | - | |||||||||||||||
Dividends on Preferred Stock | -5.8 | -5.8 | -5.1 | - | -5.1 | -5.1 | |||||||||||||||
Issuance of Common Shares | 10.2 | - | 12.2 | - | 12.2 | - | |||||||||||||||
Contributions to NPT | - | - | - | 0.3 | 0.3 | - | |||||||||||||||
Other Transactions, Net | 3 | - | 20.3 | - | 20.3 | - | |||||||||||||||
Net Income Attributable to | |||||||||||||||||||||
Noncontrolling Interests | - | 5.8 | -0.1 | 0.1 | - | 5.1 | |||||||||||||||
Other Comprehensive Income | 5.5 | - | 6.5 | - | 6.5 | - | |||||||||||||||
Balance - End of Period | $ | 9,517.50 | $ | 155.6 | $ | 9,176.90 | $ | 0 | $ | 9,176.90 | $ | 155.6 |
EARNINGS_PER_SHARE_Tables
EARNINGS PER SHARE (Tables) | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ' | |||||||||||||
Schedule Of Earnings Per Share Basic And Diluted [Table Text Block] | ' | |||||||||||||
For the Three Months Ended | For the Nine Months Ended | |||||||||||||
(Millions of Dollars, except share information) | 30-Sep-13 | 30-Sep-12 | 30-Sep-13 | 30-Sep-12 | ||||||||||
Net Income Attributable to Controlling Interest | $ | 209.5 | $ | 207.6 | $ | 608.6 | $ | 351.2 | ||||||
Weighted Average Common Shares Outstanding: | ||||||||||||||
Basic | 315,291,346 | 314,806,441 | 315,191,752 | 264,636,636 | ||||||||||
Dilutive Effect | 926,893 | 999,355 | 869,379 | 716,741 | ||||||||||
Diluted | 316,218,239 | 315,805,796 | 316,061,131 | 265,353,377 | ||||||||||
Basic EPS | $ | 0.66 | $ | 0.66 | $ | 1.93 | $ | 1.33 | ||||||
Diluted EPS | $ | 0.66 | $ | 0.66 | $ | 1.93 | $ | 1.32 |
SEGMENT_INFORMATION_Tables
SEGMENT INFORMATION (Tables) | 9 Months Ended | ||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||
Segment Reporting Information [Line Items] | ' | ||||||||||||||||||
Schedule Of Segment Reporting Information By Segment Text Block | ' | ||||||||||||||||||
For the Three Months Ended September 30, 2013 | |||||||||||||||||||
Electric | Natural Gas | ||||||||||||||||||
(Millions of Dollars) | Distribution | Distribution | Transmission | Other | Eliminations | Total | |||||||||||||
Operating Revenues | $ | 1,508.60 | $ | 97.1 | $ | 234.1 | $ | 212.5 | $ | -159.7 | $ | 1,892.60 | |||||||
Depreciation and Amortization | -159.6 | -16.4 | -34.5 | -11.2 | 2.6 | -219.1 | |||||||||||||
Other Operating Expenses | -1,064.10 | -89.4 | -73.4 | -206.8 | 159.5 | -1,274.20 | |||||||||||||
Operating Income/(Loss) | 284.9 | -8.7 | 126.2 | -5.5 | 2.4 | 399.3 | |||||||||||||
Net Income/(Loss) Attributable | |||||||||||||||||||
to Controlling Interest | 156.9 | -10.4 | 58.6 | 313.1 | -308.7 | 209.5 | |||||||||||||
For the Nine Months Ended September 30, 2013 | |||||||||||||||||||
Electric | Natural Gas | ||||||||||||||||||
(Millions of Dollars) | Distribution | Distribution | Transmission | Other | Eliminations | Total | |||||||||||||
Operating Revenues | $ | 4,104.40 | $ | 613 | $ | 721.5 | $ | 650.4 | $ | -565.8 | $ | 5,523.50 | |||||||
Depreciation and Amortization | -488.7 | -50.5 | -100.9 | -52 | 7.2 | -684.9 | |||||||||||||
Other Operating Expenses | -2,952.40 | -483.6 | -199.1 | -599 | 564.3 | -3,669.80 | |||||||||||||
Operating Income/(Loss) | 663.3 | 78.9 | 421.5 | -0.6 | 5.7 | 1,168.80 | |||||||||||||
Net Income Attributable | |||||||||||||||||||
to Controlling Interest | 347.5 | 34.1 | 215.4 | 868.7 | -857.1 | 608.6 | |||||||||||||
Cash Flows Used for | |||||||||||||||||||
Investments in Plant | 501.9 | 91.2 | 458.2 | 22.5 | - | 1,073.80 | |||||||||||||
For the Three Months Ended September 30, 2012 | |||||||||||||||||||
Electric | Natural Gas | ||||||||||||||||||
(Millions of Dollars) | Distribution | Distribution | Transmission | Other | Eliminations | Total | |||||||||||||
Operating Revenues | $ | 1,483.70 | $ | 91.3 | $ | 235.6 | $ | 219.5 | $ | -168.6 | $ | 1,861.50 | |||||||
Depreciation and Amortization | -172.6 | -12.6 | -29.7 | -17.5 | 1.1 | -231.3 | |||||||||||||
Other Operating Expenses | -1,027.40 | -77.2 | -66.3 | -216.8 | 170.4 | -1,217.30 | |||||||||||||
Operating Income/(Loss) | 283.7 | 1.5 | 139.6 | -14.8 | 2.9 | 412.9 | |||||||||||||
Net Income/(Loss) Attributable | |||||||||||||||||||
to Controlling Interest | 150.5 | -4.4 | 71.1 | 313.9 | -323.5 | 207.6 | |||||||||||||
For the Nine Months Ended September 30, 2012 | |||||||||||||||||||
Electric | Natural Gas | ||||||||||||||||||
(Millions of Dollars) | Distribution | Distribution | Transmission | Other | Eliminations | Total | |||||||||||||
Operating Revenues | $ | 3,499.70 | $ | 361.5 | $ | 627.2 | $ | 582.9 | $ | -481.5 | $ | 4,589.80 | |||||||
Depreciation and Amortization | -398.1 | -32.7 | -79.5 | -39.1 | 2.6 | -546.8 | |||||||||||||
Other Operating Expenses | -2,654.40 | -292.9 | -179.5 | -614.5 | 485.1 | -3,256.20 | |||||||||||||
Operating Income/(Loss) | 447.2 | 35.9 | 368.2 | -70.7 | 6.2 | 786.8 | |||||||||||||
Net Income Attributable | |||||||||||||||||||
to Controlling Interest | 212.1 | 8.3 | 181.1 | 511.6 | -561.9 | 351.2 | |||||||||||||
Cash Flows Used for | |||||||||||||||||||
Investments in Plant | 461.3 | 105.9 | 476 | 38.6 | - | 1,081.80 | |||||||||||||
The following table summarizes NU's segmented total assets: | |||||||||||||||||||
Electric | Natural Gas | ||||||||||||||||||
(Millions of Dollars) | Distribution | Distribution | Transmission | Other | Eliminations | Total | |||||||||||||
As of September 30, 2013 | 17,912.90 | 2,656.80 | 6,566.10 | 19,446.90 | -18,138.40 | 28,444.30 | |||||||||||||
As of December 31, 2012 | 18,047.30 | 2,717.40 | 6,187.70 | 18,832.60 | -17,482.20 | 28,302.80 |
Basis_of_Presentation_Details
Basis of Presentation (Details) | 9 Months Ended |
Sep. 30, 2013 | |
Description of Consolidation of Yankee Companies | 'NU consolidates CYAPC and YAEC as CL&P’s, NSTAR Electric’s, PSNH’s and WMECO’s combined ownership interest in each of these entities is greater than 50 percent. Intercompany transactions between CL&P, NSTAR Electric, PSNH and WMECO and the CYAPC and YAEC companies have been eliminated in consolidation. For CL&P, NSTAR Electric, PSNH and WMECO, the investment in CYAPC and YAEC continue to be accounted for under the equity method. |
Provision_for_Uncollectible_Ac1
Provision for Uncollectible Accounts (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Accounts Notes And Loans Receivable [Line Items] | ' | ' |
Allowance For Doubtful Accounts Receivable Current | $182.50 | $165.50 |
The Connecticut Light And Power Company [Member] | ' | ' |
Accounts Notes And Loans Receivable [Line Items] | ' | ' |
Allowance For Doubtful Accounts Receivable Current | 85.8 | 77.6 |
NSTAR Electric Company [Member] | ' | ' |
Accounts Notes And Loans Receivable [Line Items] | ' | ' |
Allowance For Doubtful Accounts Receivable Current | 45.9 | 44.1 |
Public Service Company Of New Hampshire [Member] | ' | ' |
Accounts Notes And Loans Receivable [Line Items] | ' | ' |
Allowance For Doubtful Accounts Receivable Current | 7.7 | 6.8 |
Western Massachusetts Electric Company [Member] | ' | ' |
Accounts Notes And Loans Receivable [Line Items] | ' | ' |
Allowance For Doubtful Accounts Receivable Current | $10.40 | $8.50 |
Other_Taxes_Details
Other Taxes (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Excise And Sales Taxes | $37.50 | $36.40 | $108.90 | $102 |
The Connecticut Light And Power Company [Member] | ' | ' | ' | ' |
Excise And Sales Taxes | $35.50 | $34.40 | $97.30 | $91.50 |
Supplemental_Cash_Flow_Informa1
Supplemental Cash Flow Information (Details) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Capital Expenditures Incurred But Not Yet Paid | $122.90 | $139.90 |
The Connecticut Light And Power Company [Member] | ' | ' |
Capital Expenditures Incurred But Not Yet Paid | 36.6 | 45.9 |
NSTAR Electric Company [Member] | ' | ' |
Capital Expenditures Incurred But Not Yet Paid | 31.9 | 21.5 |
Public Service Company Of New Hampshire [Member] | ' | ' |
Capital Expenditures Incurred But Not Yet Paid | 16.9 | 20.1 |
Western Massachusetts Electric Company [Member] | ' | ' |
Capital Expenditures Incurred But Not Yet Paid | $13.80 | $35.10 |
Severance_Benefits_Details
Severance Benefits (Details) | 9 Months Ended |
Sep. 30, 2013 | |
Notes To Consolidated Financial Statements [Abstract] | ' |
DescriptionOfPostemploymentBenefits | 'Severance BenefitsIn the third quarter of 2013, NU recorded severance benefit expenses of $9.2 million in connection with the partial outsourcing of information technology functions made as part of ongoing post-merger integration. As of September 30, 2013, the severance accrual totaled $14.2 million and was included in Other Current Liabilities on the accompanying balance sheet. |
MERGER_OF_NU_AND_NSTAR_Details
MERGER OF NU AND NSTAR (Details) (USD $) | 0 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Apr. 09, 2012 | Sep. 30, 2013 | Dec. 31, 2012 |
Business Combination Consideration Transferred [Abstract] | ' | ' | ' |
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 136,000,000 | ' | ' |
Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Less Noncontrolling Interest [Abstract] | ' | ' | ' |
Goodwill | ' | $3,519,401 | $3,519,401 |
Goodwill Roll Forward [Abstract] | ' | ' | ' |
Goodwill, Beginning Balance | ' | 3,519,401 | 3,519,401 |
Goodwill, Ending Balance | ' | $3,519,401 | $3,519,401 |
REGULATORY_ACCOUNTING_Details
REGULATORY ACCOUNTING (Details) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Dec. 31, 2012 | |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets Current | $474,198,000 | $705,025,000 |
Regulatory Assets Long Term | 4,882,381,000 | 5,132,411,000 |
Regulatory Assets, Total | 5,356,600,000 | 5,837,400,000 |
Regulatory Assets And Liabilities Other Disclosures Abstract | ' | ' |
Description of Regulatory Costs Not yet Approved | 'Regulatory Costs in Other Long-Term Assets: The Regulated companies had $95.1 million ($3.4 million for CL&P, $31.3 million for NSTAR Electric, $37.3 million for PSNH, and $7.9 million for WMECO) and $69.9 million ($3.9 million for CL&P, $25.4 million for NSTAR Electric, $35.7 million for PSNH, and $1.4 million for WMECO) of additional regulatory costs as of September 30, 2013 and December 31, 2012, respectively, which were included in Other Long-Term Assets on the balance sheets. These amounts represent incurred costs for which specific recovery has not yet been approved by the applicable regulatory agency. Management believes it is probable that these costs will ultimately be approved and recovered from customers. | ' |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liability Current | 224,416,000 | 134,115,000 |
Regulatory Liabilities Long-Term | 520,732,000 | 540,162,000 |
Regulatory Liabilities, Total | 745,100,000 | 674,300,000 |
Cost Of Removal [Member] | ' | ' |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities, Total | 434,300,000 | 440,800,000 |
Regulatory Tracker Deferrals Regulatory Liabilities [Member] | ' | ' |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities, Total | 168,600,000 | 95,100,000 |
AFUDC Transmission Incentive [Member] | ' | ' |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities, Total | 68,300,000 | 70,000,000 |
Other Regulatory Liabilities [Member] | ' | ' |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities, Total | 73,900,000 | 68,400,000 |
The Connecticut Light And Power Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets Current | 147,076,000 | 185,858,000 |
Regulatory Assets Long Term | 2,021,974,000 | 2,158,363,000 |
Regulatory Assets, Total | 2,169,100,000 | 2,344,300,000 |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liability Current | 81,988,000 | 32,119,000 |
Regulatory Liabilities Long-Term | 107,964,000 | 124,319,000 |
Regulatory Liabilities, Total | 190,000,000 | 156,400,000 |
The Connecticut Light And Power Company [Member] | Cost Of Removal [Member] | ' | ' |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities, Total | 31,200,000 | 44,200,000 |
The Connecticut Light And Power Company [Member] | Regulatory Tracker Deferrals Regulatory Liabilities [Member] | ' | ' |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities, Total | 73,200,000 | 39,100,000 |
The Connecticut Light And Power Company [Member] | AFUDC Transmission Incentive [Member] | ' | ' |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities, Total | 55,000,000 | 56,600,000 |
The Connecticut Light And Power Company [Member] | Other Regulatory Liabilities [Member] | ' | ' |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities, Total | 30,600,000 | 16,500,000 |
NSTAR Electric Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets Current | 189,754,000 | 347,081,000 |
Regulatory Assets Long Term | 1,538,222,000 | 1,444,870,000 |
Regulatory Assets, Total | 1,728,000,000 | 1,792,000,000 |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liability Current | 82,521,000 | 47,539,000 |
Regulatory Liabilities Long-Term | 251,005,000 | 244,224,000 |
Regulatory Liabilities, Total | 333,500,000 | 291,700,000 |
NSTAR Electric Company [Member] | Cost Of Removal [Member] | ' | ' |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities, Total | 247,200,000 | 240,300,000 |
NSTAR Electric Company [Member] | Regulatory Tracker Deferrals Regulatory Liabilities [Member] | ' | ' |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities, Total | 51,000,000 | 14,400,000 |
NSTAR Electric Company [Member] | AFUDC Transmission Incentive [Member] | ' | ' |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities, Total | 4,000,000 | 4,100,000 |
NSTAR Electric Company [Member] | Other Regulatory Liabilities [Member] | ' | ' |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities, Total | 31,300,000 | 32,900,000 |
Public Service Company Of New Hampshire [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets Current | 67,716,000 | 62,882,000 |
Regulatory Assets Long Term | 301,368,000 | 351,059,000 |
Regulatory Assets, Total | 369,100,000 | 414,000,000 |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liability Current | 23,394,000 | 23,002,000 |
Regulatory Liabilities Long-Term | 52,867,000 | 52,418,000 |
Regulatory Liabilities, Total | 76,300,000 | 75,400,000 |
Public Service Company Of New Hampshire [Member] | Cost Of Removal [Member] | ' | ' |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities, Total | 49,800,000 | 51,200,000 |
Public Service Company Of New Hampshire [Member] | Regulatory Tracker Deferrals Regulatory Liabilities [Member] | ' | ' |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities, Total | 10,700,000 | 20,400,000 |
Public Service Company Of New Hampshire [Member] | Other Regulatory Liabilities [Member] | ' | ' |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities, Total | 15,800,000 | 3,800,000 |
Western Massachusetts Electric Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets Current | 37,854,000 | 42,370,000 |
Regulatory Assets Long Term | 194,744,000 | 221,752,000 |
Regulatory Assets, Total | 232,600,000 | 264,200,000 |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liability Current | 22,400,000 | 21,037,000 |
Regulatory Liabilities Long-Term | 11,914,000 | 9,686,000 |
Regulatory Liabilities, Total | 34,300,000 | 30,700,000 |
Western Massachusetts Electric Company [Member] | Cost Of Removal [Member] | ' | ' |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities, Total | 0 | 0 |
Western Massachusetts Electric Company [Member] | Regulatory Tracker Deferrals Regulatory Liabilities [Member] | ' | ' |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities, Total | 22,100,000 | 19,000,000 |
Western Massachusetts Electric Company [Member] | AFUDC Transmission Incentive [Member] | ' | ' |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities, Total | 9,300,000 | 9,300,000 |
Western Massachusetts Electric Company [Member] | Other Regulatory Liabilities [Member] | ' | ' |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities, Total | 2,900,000 | 2,400,000 |
Benefit Costs [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 2,256,000,000 | 2,452,100,000 |
Benefit Costs [Member] | The Connecticut Light And Power Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 509,300,000 | 563,200,000 |
Benefit Costs [Member] | NSTAR Electric Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 824,300,000 | 781,200,000 |
Benefit Costs [Member] | Public Service Company Of New Hampshire [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 199,600,000 | 223,700,000 |
Benefit Costs [Member] | Western Massachusetts Electric Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 103,800,000 | 116,000,000 |
Regulatory Assets Offsetting Derivative Liabilities [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 770,300,000 | 885,600,000 |
Regulatory Assets Offsetting Derivative Liabilities [Member] | The Connecticut Light And Power Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 755,300,000 | 866,200,000 |
Regulatory Assets Offsetting Derivative Liabilities [Member] | NSTAR Electric Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 11,600,000 | 14,900,000 |
Regulatory Assets Offsetting Derivative Liabilities [Member] | Public Service Company Of New Hampshire [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 300,000 | 0 |
Regulatory Assets Offsetting Derivative Liabilities [Member] | Western Massachusetts Electric Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 0 | 3,000,000 |
Goodwill Regulatory Asset [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 531,100,000 | 537,600,000 |
Goodwill Regulatory Asset [Member] | NSTAR Electric Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 455,900,000 | 461,500,000 |
Storm Restoration Costs [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 621,000,000 | 547,700,000 |
Storm Restoration Costs [Member] | The Connecticut Light And Power Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 439,400,000 | 413,900,000 |
Storm Restoration Costs [Member] | NSTAR Electric Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 114,000,000 | 55,800,000 |
Storm Restoration Costs [Member] | Public Service Company Of New Hampshire [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 27,900,000 | 34,500,000 |
Storm Restoration Costs [Member] | Western Massachusetts Electric Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 39,700,000 | 43,500,000 |
Deferred Income Tax Charges Member | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 587,500,000 | 516,200,000 |
Deferred Income Tax Charges Member | The Connecticut Light And Power Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 385,300,000 | 367,500,000 |
Deferred Income Tax Charges Member | NSTAR Electric Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 84,800,000 | 47,100,000 |
Deferred Income Tax Charges Member | Public Service Company Of New Hampshire [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 36,500,000 | 36,200,000 |
Deferred Income Tax Charges Member | Western Massachusetts Electric Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 42,100,000 | 31,000,000 |
Securitized Assets [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 37,400,000 | 232,600,000 |
Securitized Assets [Member] | The Connecticut Light And Power Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 0 | 0 |
Securitized Assets [Member] | NSTAR Electric Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 37,400,000 | 205,100,000 |
Securitized Assets [Member] | Public Service Company Of New Hampshire [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 0 | 19,700,000 |
Securitized Assets [Member] | Western Massachusetts Electric Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 0 | 7,800,000 |
Unrecovered Contractual Obligations [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 170,900,000 | 217,600,000 |
Unrecovered Contractual Obligations [Member] | The Connecticut Light And Power Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 20,000,000 | 64,000,000 |
Unrecovered Contractual Obligations [Member] | NSTAR Electric Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 6,400,000 | 22,800,000 |
Unrecovered Contractual Obligations [Member] | Public Service Company Of New Hampshire [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 0 | 0 |
Unrecovered Contractual Obligations [Member] | Western Massachusetts Electric Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 4,600,000 | 14,900,000 |
Power Contracts Buy Out Agreements [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 76,000,000 | 92,900,000 |
Power Contracts Buy Out Agreements [Member] | NSTAR Electric Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 70,100,000 | 85,900,000 |
Power Contracts Buy Out Agreements [Member] | Public Service Company Of New Hampshire [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 5,900,000 | 7,000,000 |
Regulatory Tracker Deferrals Regulatory Assets [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 163,300,000 | 190,100,000 |
Regulatory Tracker Deferrals Regulatory Assets [Member] | The Connecticut Light And Power Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 0 | 12,200,000 |
Regulatory Tracker Deferrals Regulatory Assets [Member] | NSTAR Electric Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 83,600,000 | 71,400,000 |
Regulatory Tracker Deferrals Regulatory Assets [Member] | Public Service Company Of New Hampshire [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 52,500,000 | 49,300,000 |
Regulatory Tracker Deferrals Regulatory Assets [Member] | Western Massachusetts Electric Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 21,500,000 | 31,900,000 |
Asset Retirement Obligation Costs Member | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 93,000,000 | 88,800,000 |
Asset Retirement Obligation Costs Member | The Connecticut Light And Power Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 31,100,000 | 29,400,000 |
Asset Retirement Obligation Costs Member | NSTAR Electric Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 30,700,000 | 29,400,000 |
Asset Retirement Obligation Costs Member | Public Service Company Of New Hampshire [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 14,700,000 | 14,200,000 |
Asset Retirement Obligation Costs Member | Western Massachusetts Electric Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 3,700,000 | 3,500,000 |
Other Regulatory Assets [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 50,100,000 | 76,200,000 |
Other Regulatory Assets [Member] | The Connecticut Light And Power Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 28,700,000 | 27,900,000 |
Other Regulatory Assets [Member] | NSTAR Electric Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 9,200,000 | 16,900,000 |
Other Regulatory Assets [Member] | Public Service Company Of New Hampshire [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 31,700,000 | 29,400,000 |
Other Regulatory Assets [Member] | Western Massachusetts Electric Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | $17,200,000 | $12,600,000 |
PROPERTY_PLANT_AND_ACCUMULATED2
PROPERTY, PLANT AND ACCUMULATED DEPRECIATION (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Public Utility Property Plant And Equipment [Line Items] | ' | ' |
Public Utilities Property Plant And Equipment Distribution | $11,735,400,000 | $11,438,200,000 |
Public Utilities Property Plant And Equipment Distribution Natural Gas | 2,352,400,000 | 2,274,200,000 |
Public Utilities Property Plant And Equipment Transmission | 6,009,000,000 | 5,541,100,000 |
Public Utilities Property Plant And Equipment Generation Or Processing | 1,142,100,000 | 1,146,600,000 |
Public Utilities Property Plant And Equipment Electric And Natural Gas Utility Total | 21,238,900,000 | 20,400,100,000 |
Public Utilities Property Plant And Equipment Other Property Plant And Equipment | 505,200,000 | 429,300,000 |
Public Utilities Property Plant And Equipment Plant In Service | 21,744,100,000 | 20,829,400,000 |
ElectricAndNaturalGasUtilityAccumulatedDepreciation | -5,331,000,000 | -5,065,100,000 |
OtherAccumulatedDepreciation | -192,900,000 | -171,500,000 |
Public Utilities, Property, Plant and Equipment, Accumulated Depreciation | -5,523,900,000 | -5,236,600,000 |
Property Plant And Equipment Net Excluding Construction Work In Progress | 16,220,200,000 | 15,592,800,000 |
Public Utilities Property Plant And Equipment Construction Work In Progress | 967,700,000 | 1,012,200,000 |
Property, Plant and Equipment, Net | 17,187,896,000 | 16,605,010,000 |
The Connecticut Light And Power Company [Member] | ' | ' |
Public Utility Property Plant And Equipment [Line Items] | ' | ' |
Public Utilities Property Plant And Equipment Distribution | 4,836,100,000 | 4,691,300,000 |
Public Utilities Property Plant And Equipment Transmission | 2,969,600,000 | 2,796,100,000 |
Public Utilities Property Plant And Equipment Generation Or Processing | 0 | 0 |
Public Utilities Property Plant And Equipment Plant In Service | 7,805,700,000 | 7,487,400,000 |
Public Utilities, Property, Plant and Equipment, Accumulated Depreciation | -1,778,700,000 | -1,698,100,000 |
Property Plant And Equipment Net Excluding Construction Work In Progress | 6,027,000,000 | 5,789,300,000 |
Public Utilities Property Plant And Equipment Construction Work In Progress | 299,200,000 | 363,700,000 |
Property, Plant and Equipment, Net | 6,326,225,000 | 6,152,959,000 |
NSTAR Electric Company [Member] | ' | ' |
Public Utility Property Plant And Equipment [Line Items] | ' | ' |
Public Utilities Property Plant And Equipment Distribution | 4,622,700,000 | 4,539,900,000 |
Public Utilities Property Plant And Equipment Transmission | 1,664,500,000 | 1,529,700,000 |
Public Utilities Property Plant And Equipment Generation Or Processing | 0 | 0 |
Public Utilities Property Plant And Equipment Plant In Service | 6,287,200,000 | 6,069,600,000 |
Public Utilities, Property, Plant and Equipment, Accumulated Depreciation | -1,634,500,000 | -1,540,100,000 |
Property Plant And Equipment Net Excluding Construction Work In Progress | 4,652,700,000 | 4,529,500,000 |
Public Utilities Property Plant And Equipment Construction Work In Progress | 270,700,000 | 205,800,000 |
Property, Plant and Equipment, Net | 4,923,410,000 | 4,735,297,000 |
Public Service Company Of New Hampshire [Member] | ' | ' |
Public Utility Property Plant And Equipment [Line Items] | ' | ' |
Public Utilities Property Plant And Equipment Distribution | 1,569,700,000 | 1,520,100,000 |
Public Utilities Property Plant And Equipment Transmission | 613,200,000 | 599,200,000 |
Public Utilities Property Plant And Equipment Generation Or Processing | 1,121,000,000 | 1,125,500,000 |
Public Utilities Property Plant And Equipment Plant In Service | 3,303,900,000 | 3,244,800,000 |
Public Utilities, Property, Plant and Equipment, Accumulated Depreciation | -1,001,700,000 | -954,000,000 |
Property Plant And Equipment Net Excluding Construction Work In Progress | 2,302,200,000 | 2,290,800,000 |
Public Utilities Property Plant And Equipment Construction Work In Progress | 106,800,000 | 61,700,000 |
Property, Plant and Equipment, Net | 2,409,039,000 | 2,352,515,000 |
Western Massachusetts Electric Company [Member] | ' | ' |
Public Utility Property Plant And Equipment [Line Items] | ' | ' |
Public Utilities Property Plant And Equipment Distribution | 746,300,000 | 724,200,000 |
Public Utilities Property Plant And Equipment Transmission | 715,800,000 | 583,700,000 |
Public Utilities Property Plant And Equipment Generation Or Processing | 21,100,000 | 21,100,000 |
Public Utilities Property Plant And Equipment Plant In Service | 1,483,200,000 | 1,329,000,000 |
Public Utilities, Property, Plant and Equipment, Accumulated Depreciation | -265,700,000 | -252,100,000 |
Property Plant And Equipment Net Excluding Construction Work In Progress | 1,217,500,000 | 1,076,900,000 |
Public Utilities Property Plant And Equipment Construction Work In Progress | 135,200,000 | 213,600,000 |
Property, Plant and Equipment, Net | $1,352,705,000 | $1,290,498,000 |
DERIVATIVE_INSTURMENTS_Details
DERIVATIVE INSTURMENTS (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |
Derivative Instrument Detail Abstract | ' | ' | ' | ' | ' |
Derivative Liabilities, Noncurrent | ($766,804,000) | ' | ($766,804,000) | ' | ($882,654,000) |
Derivative Assets Noncurrent | 88,887,000 | ' | 88,887,000 | ' | 90,612,000 |
Current Derivative Assets Consolidated | 8,900,000 | ' | 8,900,000 | ' | 11,400,000 |
DerivativeCollateralRightToReclaimCash | 1,000,000 | ' | 1,000,000 | ' | 4,100,000 |
Consolidated Current Derivative Liabilities | 103,500,000 | ' | 103,500,000 | ' | 117,200,000 |
Other Derivatives Not Designated As Hedging Instruments At Fair Value Net Total Abstract | ' | ' | ' | ' | ' |
Description of Derivative Activity Volume | ' | ' | 'As of September 30, 2013 and December 31, 2012, NU had approximately 5 thousand MWh and 24 thousand MWh, respectively, of supply volumes remaining in its unregulated wholesale portfolio when expected sales are compared with supply contracts. | ' | ' |
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net Abstract | ' | ' | ' | ' | ' |
Derivative Gain Loss On Derivative Net | 200,000 | 200,000 | 900,000 | -800,000 | ' |
Derivative Instruments Gain Loss Recognized In Regulatory Asset Liability | 300,000 | 11,700,000 | 48,800,000 | -25,000,000 | ' |
Derivative Credit Risk Related Contingent Features Abstract | ' | ' | ' | ' | ' |
Derivative Net Liability Position Aggregate Fair Value | -6,700,000 | ' | -6,700,000 | ' | -15,300,000 |
Additional Collateral Aggregate Fair Value | 13,400,000 | ' | 13,400,000 | ' | 17,400,000 |
MinimumMember | ' | ' | ' | ' | ' |
FairValueInputsQuantitativeInformation[Abstract] | ' | ' | ' | ' | ' |
FairValueInputsCapacityPrices | 1.4 | ' | 1.4 | ' | 1.4 |
FairValueInputsEnergyPrices | 45 | ' | 45 | ' | 43 |
FairValueInputsRenewableEnergyCreditPrices | 25 | ' | 25 | ' | 25 |
FairValueInputsForwardReserve | 3 | ' | 3 | ' | 0.35 |
FairValueInputsExitPricePremium | ' | ' | '0.1 | ' | ' |
MaximumMember | ' | ' | ' | ' | ' |
FairValueInputsQuantitativeInformation[Abstract] | ' | ' | ' | ' | ' |
FairValueInputsCapacityPrices | 10.53 | ' | 10.53 | ' | 10.53 |
FairValueInputsEnergyPrices | 93 | ' | 93 | ' | 90 |
FairValueInputsRenewableEnergyCreditPrices | 87 | ' | 87 | ' | 85 |
FairValueInputsForwardReserve | 3 | ' | 3 | ' | 0.9 |
FairValueInputsExitPricePremium | ' | ' | '0.32 | ' | ' |
The Connecticut Light And Power Company [Member] | ' | ' | ' | ' | ' |
Derivative Instrument Detail Abstract | ' | ' | ' | ' | ' |
Derivative Liabilities - Current | -94,123,000 | ' | -94,123,000 | ' | -96,931,000 |
Derivative Liabilities, Noncurrent | -756,437,000 | ' | -756,437,000 | ' | -865,571,000 |
Derivative Assets Noncurrent | 88,018,000 | ' | 88,018,000 | ' | 90,612,000 |
Other Derivatives Not Designated As Hedging Instruments At Fair Value Net Total Abstract | ' | ' | ' | ' | ' |
Description of Derivative Activity Volume | ' | ' | 'Commodity Supply and Price Risk Management: As required by regulation, CL&P has capacity-related contracts with generation facilities. These contracts and similar UI contracts have an expected capacity of 787 MW. CL&P has a sharing agreement with UI, with 80 percent of each contract allocated to CL&P and 20 percent allocated to UI. The capacity contracts extend through 2026 and obligate both CL&P and UI to make or receive payments on a monthly basis to or from the generation facilities based on the difference between a set capacity price and the forward capacity market price received in the ISO-NE capacity markets. In addition, CL&P has a contract to purchase 0.1 million MWh of energy per year through 2020. | ' | ' |
The Connecticut Light And Power Company [Member] | MinimumMember | ' | ' | ' | ' | ' |
FairValueInputsQuantitativeInformation[Abstract] | ' | ' | ' | ' | ' |
FairValueInputsCapacityPrices | 1.4 | ' | 1.4 | ' | 1.4 |
FairValueInputsEnergyPrices | 52 | ' | 52 | ' | 50 |
FairValueInputsForwardReserve | 3 | ' | 3 | ' | 0.35 |
The Connecticut Light And Power Company [Member] | MaximumMember | ' | ' | ' | ' | ' |
FairValueInputsQuantitativeInformation[Abstract] | ' | ' | ' | ' | ' |
FairValueInputsCapacityPrices | 9.51 | ' | 9.51 | ' | 9.83 |
FairValueInputsEnergyPrices | 56 | ' | 56 | ' | 55 |
FairValueInputsForwardReserve | 3 | ' | 3 | ' | 0.9 |
NSTAR Electric Company [Member] | ' | ' | ' | ' | ' |
Other Derivatives Not Designated As Hedging Instruments At Fair Value Net Total Abstract | ' | ' | ' | ' | ' |
Description of Derivative Activity Volume | ' | ' | 'NSTAR Electric has a renewable energy contract to purchase 0.1 million MWh of energy per year through 2018. NSTAR Electric also has a capacity related contract for up to 35 MW per year that extends through 2019. PSNH has electricity procurement contracts to purchase 0.2 million MWh of energy through November 2013. | ' | ' |
NSTAR Electric Company [Member] | MinimumMember | ' | ' | ' | ' | ' |
FairValueInputsQuantitativeInformation[Abstract] | ' | ' | ' | ' | ' |
FairValueInputsCapacityPrices | 1.4 | ' | 1.4 | ' | 1.4 |
FairValueInputsRenewableEnergyCreditPrices | 25 | ' | 25 | ' | 25 |
NSTAR Electric Company [Member] | MaximumMember | ' | ' | ' | ' | ' |
FairValueInputsQuantitativeInformation[Abstract] | ' | ' | ' | ' | ' |
FairValueInputsCapacityPrices | 3.39 | ' | 3.39 | ' | 3.39 |
FairValueInputsRenewableEnergyCreditPrices | 71 | ' | 71 | ' | 71 |
Public Service Company Of New Hampshire [Member] | ' | ' | ' | ' | ' |
Other Derivatives Not Designated As Hedging Instruments At Fair Value Net Total Abstract | ' | ' | ' | ' | ' |
Description of Derivative Activity Volume | ' | ' | 'PSNH has electricity procurement contracts to purchase 0.2 million MWh of energy through November 2013. | ' | ' |
Western Massachusetts Electric Company [Member] | ' | ' | ' | ' | ' |
Other Derivatives Not Designated As Hedging Instruments At Fair Value Net Total Abstract | ' | ' | ' | ' | ' |
Description of Derivative Activity Volume | ' | ' | 'WMECO has a renewable energy contract to purchase 0.1 million MWh of energy per year through 2029 with a facility that is expected to achieve commercial operation by June 2014. | ' | ' |
Western Massachusetts Electric Company [Member] | MinimumMember | ' | ' | ' | ' | ' |
FairValueInputsQuantitativeInformation[Abstract] | ' | ' | ' | ' | ' |
FairValueInputsCapacityPrices | 1.4 | ' | 1.4 | ' | 1.4 |
FairValueInputsEnergyPrices | 45 | ' | 45 | ' | 43 |
FairValueInputsRenewableEnergyCreditPrices | 25 | ' | 25 | ' | 25 |
Western Massachusetts Electric Company [Member] | MaximumMember | ' | ' | ' | ' | ' |
FairValueInputsQuantitativeInformation[Abstract] | ' | ' | ' | ' | ' |
FairValueInputsCapacityPrices | 10.53 | ' | 10.53 | ' | 10.53 |
FairValueInputsEnergyPrices | 93 | ' | 93 | ' | 90 |
FairValueInputsRenewableEnergyCreditPrices | 87 | ' | 87 | ' | 85 |
Fair Value Inputs Level 2 [Member] | Public Service Company Of New Hampshire [Member] | ' | ' | ' | ' | ' |
Derivative Instrument Detail Abstract | ' | ' | ' | ' | ' |
Derivative Liabilities - Current | -300,000 | ' | -300,000 | ' | ' |
Fair Value Inputs Level 2 [Member] | Subsidiaries [Member] | ' | ' | ' | ' | ' |
Derivative Instrument Detail Abstract | ' | ' | ' | ' | ' |
Derivative Assets - Current | ' | ' | ' | ' | 200,000 |
Derivative Liabilities - Current | -7,400,000 | ' | -7,400,000 | ' | -19,300,000 |
Derivative Liabilities, Noncurrent | ' | ' | ' | ' | -200,000 |
Fair Value Inputs Level 3 [Member] | The Connecticut Light And Power Company [Member] | ' | ' | ' | ' | ' |
Derivative Instrument Detail Abstract | ' | ' | ' | ' | ' |
Derivative Assets - Current | 7,200,000 | ' | 7,200,000 | ' | 5,700,000 |
Derivative Liabilities - Current | -94,100,000 | ' | -94,100,000 | ' | -96,900,000 |
Derivative Liabilities, Noncurrent | -756,400,000 | ' | -756,400,000 | ' | -865,600,000 |
Derivative Assets Noncurrent | 88,000,000 | ' | 88,000,000 | ' | 90,600,000 |
Fair Value Inputs Level 3 [Member] | NSTAR Electric Company [Member] | ' | ' | ' | ' | ' |
Derivative Instrument Detail Abstract | ' | ' | ' | ' | ' |
Derivative Assets - Current | 400,000 | ' | 400,000 | ' | ' |
Derivative Liabilities - Current | -1,600,000 | ' | -1,600,000 | ' | -1,000,000 |
Derivative Liabilities, Noncurrent | -10,400,000 | ' | -10,400,000 | ' | -13,900,000 |
Fair Value Inputs Level 3 [Member] | Western Massachusetts Electric Company [Member] | ' | ' | ' | ' | ' |
Derivative Instrument Detail Abstract | ' | ' | ' | ' | ' |
Derivative Liabilities - Current | -100,000 | ' | -100,000 | ' | ' |
Derivative Liabilities, Noncurrent | ' | ' | ' | ' | -3,000,000 |
Fair Value Inputs Level 3 [Member] | Subsidiaries [Member] | ' | ' | ' | ' | ' |
Derivative Instrument Detail Abstract | ' | ' | ' | ' | ' |
Derivative Assets - Current | 1,300,000 | ' | 1,300,000 | ' | 5,500,000 |
Netting And Collateral [Member] | ' | ' | ' | ' | ' |
Derivative Instrument Detail Abstract | ' | ' | ' | ' | ' |
Derivative Assets - Current | -10,100,000 | ' | -10,100,000 | ' | -12,000,000 |
Derivative Liabilities - Current | 200,000 | ' | 200,000 | ' | 600,000 |
Derivative Assets Noncurrent | -51,500,000 | ' | -51,500,000 | ' | -69,100,000 |
Netting And Collateral [Member] | Fair Value Inputs Level 2 [Member] | Public Service Company Of New Hampshire [Member] | ' | ' | ' | ' | ' |
Derivative Instrument Detail Abstract | ' | ' | ' | ' | ' |
Derivative Liabilities - Current | 200,000 | ' | 200,000 | ' | ' |
Netting And Collateral [Member] | Fair Value Inputs Level 2 [Member] | Subsidiaries [Member] | ' | ' | ' | ' | ' |
Derivative Instrument Detail Abstract | ' | ' | ' | ' | ' |
Derivative Liabilities - Current | 0 | ' | 0 | ' | 600,000 |
Netting And Collateral [Member] | Fair Value Inputs Level 3 [Member] | The Connecticut Light And Power Company [Member] | ' | ' | ' | ' | ' |
Derivative Instrument Detail Abstract | ' | ' | ' | ' | ' |
Derivative Assets - Current | -10,100,000 | ' | -10,100,000 | ' | -12,000,000 |
Derivative Assets Noncurrent | -51,500,000 | ' | -51,500,000 | ' | -69,100,000 |
Commodity [Member] | ' | ' | ' | ' | ' |
Derivative Instrument Detail Abstract | ' | ' | ' | ' | ' |
Derivative Assets - Current | 19,000,000 | ' | 19,000,000 | ' | 23,400,000 |
Derivative Liabilities - Current | -103,700,000 | ' | -103,700,000 | ' | -117,800,000 |
Derivative Liabilities, Noncurrent | -766,800,000 | ' | -766,800,000 | ' | -882,700,000 |
Derivative Assets Noncurrent | 140,400,000 | ' | 140,400,000 | ' | 159,700,000 |
Commodity [Member] | Fair Value Inputs Level 2 [Member] | Public Service Company Of New Hampshire [Member] | ' | ' | ' | ' | ' |
Derivative Instrument Detail Abstract | ' | ' | ' | ' | ' |
Derivative Liabilities - Current | -500,000 | ' | -500,000 | ' | ' |
Commodity [Member] | Fair Value Inputs Level 2 [Member] | Subsidiaries [Member] | ' | ' | ' | ' | ' |
Derivative Instrument Detail Abstract | ' | ' | ' | ' | ' |
Derivative Assets - Current | ' | ' | ' | ' | 200,000 |
Derivative Liabilities - Current | -7,400,000 | ' | -7,400,000 | ' | -19,900,000 |
Derivative Liabilities, Noncurrent | ' | ' | ' | ' | -200,000 |
Commodity [Member] | Fair Value Inputs Level 3 [Member] | The Connecticut Light And Power Company [Member] | ' | ' | ' | ' | ' |
Derivative Instrument Detail Abstract | ' | ' | ' | ' | ' |
Derivative Assets - Current | 17,300,000 | ' | 17,300,000 | ' | 17,700,000 |
Derivative Liabilities - Current | -94,100,000 | ' | -94,100,000 | ' | -96,900,000 |
Derivative Liabilities, Noncurrent | -756,400,000 | ' | -756,400,000 | ' | -865,600,000 |
Derivative Assets Noncurrent | 139,500,000 | ' | 139,500,000 | ' | 159,700,000 |
Commodity [Member] | Fair Value Inputs Level 3 [Member] | NSTAR Electric Company [Member] | ' | ' | ' | ' | ' |
Derivative Instrument Detail Abstract | ' | ' | ' | ' | ' |
Derivative Assets - Current | 400,000 | ' | 400,000 | ' | ' |
Derivative Liabilities - Current | -1,600,000 | ' | -1,600,000 | ' | -1,000,000 |
Derivative Liabilities, Noncurrent | -10,400,000 | ' | -10,400,000 | ' | -13,900,000 |
Commodity [Member] | Fair Value Inputs Level 3 [Member] | Western Massachusetts Electric Company [Member] | ' | ' | ' | ' | ' |
Derivative Instrument Detail Abstract | ' | ' | ' | ' | ' |
Derivative Liabilities - Current | -100,000 | ' | -100,000 | ' | ' |
Derivative Liabilities, Noncurrent | ' | ' | ' | ' | -3,000,000 |
Commodity [Member] | Fair Value Inputs Level 3 [Member] | Subsidiaries [Member] | ' | ' | ' | ' | ' |
Derivative Instrument Detail Abstract | ' | ' | ' | ' | ' |
Derivative Assets - Current | $1,300,000 | ' | $1,300,000 | ' | $5,500,000 |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ' | ' | ' | ' |
Beginning Balance | ($788.10) | ($932.10) | ($878.60) | ($962.20) |
DerivativeLiabilityRecordedAtMergerDateLevel3 | ' | 0 | ' | -5.4 |
us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersOutOfLevel3 | ' | 0 | ' | 32.2 |
Net Realized/Unrealized Gains Losses included in Net Income | 1.2 | -0.2 | 8.3 | 7.2 |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Liability Gain Loss Included In Reg Asset Liability | 0.8 | 8.5 | 49.6 | -30.1 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements | 21.3 | 21.5 | 55.9 | 56 |
Ending Balance | -764.8 | -902.3 | -764.8 | -902.3 |
The Connecticut Light And Power Company [Member] | ' | ' | ' | ' |
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ' | ' | ' | ' |
Beginning Balance | -775.8 | -910.7 | -866.2 | -931.6 |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Liability Gain Loss Included In Reg Asset Liability | -1.2 | -2.8 | 45.1 | -23.8 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements | 21.7 | 22.6 | 65.8 | 64.5 |
Ending Balance | -755.3 | -890.9 | -755.3 | -890.9 |
NSTAR Electric Company [Member] | ' | ' | ' | ' |
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ' | ' | ' | ' |
Beginning Balance | -13.1 | -15.8 | -14.9 | -3.4 |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Liability Gain Loss Included In Reg Asset Liability | 0.5 | 1.4 | 0.6 | -13.2 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements | 1 | 0.6 | 2.7 | 2.8 |
Ending Balance | -11.6 | -13.8 | -11.6 | -13.8 |
Western Massachusetts Electric Company [Member] | ' | ' | ' | ' |
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ' | ' | ' | ' |
Beginning Balance | -0.7 | -13.5 | -3 | -7.3 |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Liability Gain Loss Included In Reg Asset Liability | 1.5 | 9.8 | 3.8 | 3.6 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements | ' | ' | 0 | 0 |
Ending Balance | $0.80 | ($3.70) | $0.80 | ($3.70) |
MARKETABLE_SECURITIES_Details
MARKETABLE SECURITIES (Details) (USD $) | 3 Months Ended | 9 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 |
Western Massachusetts Electric Company [Member] | Western Massachusetts Electric Company [Member] | Fair Value Inputs Level 1 Member | Fair Value Inputs Level 1 Member | Fair Value Inputs Level 1 Member | Fair Value Inputs Level 1 Member | Fair Value Inputs Level 2 [Member] | Fair Value Inputs Level 2 [Member] | Fair Value Inputs Level 2 [Member] | Fair Value Inputs Level 2 [Member] | US Government Debt Securities Member | US Government Debt Securities Member | US Government Debt Securities Member | US Government Debt Securities Member | Corporate Bond Securities Member | Corporate Bond Securities Member | Corporate Bond Securities Member | Corporate Bond Securities Member | Asset Backed Securities Member | Asset Backed Securities Member | Asset Backed Securities Member | Asset Backed Securities Member | Municipal Bonds Member | Municipal Bonds Member | Municipal Bonds Member | Municipal Bonds Member | Other Debt Securities Member | Other Debt Securities Member | Other Debt Securities Member | Other Debt Securities Member | Cash And Cash Equivalents Member | Cash And Cash Equivalents Member | Cash And Cash Equivalents Member | Cash And Cash Equivalents Member | Mutual Funds [Member] | Mutual Funds [Member] | Debt Securities | Debt Securities | Debt Securities | Debt Securities | Equity Securities | Equity Securities | ||||||
Western Massachusetts Electric Company [Member] | Western Massachusetts Electric Company [Member] | Western Massachusetts Electric Company [Member] | Western Massachusetts Electric Company [Member] | Fair Value Inputs Level 2 [Member] | Fair Value Inputs Level 2 [Member] | Fair Value Inputs Level 2 [Member] | Fair Value Inputs Level 2 [Member] | Fair Value Inputs Level 2 [Member] | Fair Value Inputs Level 2 [Member] | Fair Value Inputs Level 2 [Member] | Fair Value Inputs Level 2 [Member] | Fair Value Inputs Level 2 [Member] | Fair Value Inputs Level 2 [Member] | Fair Value Inputs Level 2 [Member] | Fair Value Inputs Level 2 [Member] | Fair Value Inputs Level 2 [Member] | Fair Value Inputs Level 2 [Member] | Fair Value Inputs Level 2 [Member] | Fair Value Inputs Level 2 [Member] | Fair Value Inputs Level 2 [Member] | Fair Value Inputs Level 2 [Member] | Fair Value Inputs Level 2 [Member] | Fair Value Inputs Level 2 [Member] | Fair Value Inputs Level 1 Member | Fair Value Inputs Level 1 Member | Fair Value Inputs Level 1 Member | Fair Value Inputs Level 1 Member | Fair Value Inputs Level 1 Member | Fair Value Inputs Level 1 Member | Western Massachusetts Electric Company [Member] | Western Massachusetts Electric Company [Member] | ||||||||||||||||
Western Massachusetts Electric Company [Member] | Western Massachusetts Electric Company [Member] | Western Massachusetts Electric Company [Member] | Western Massachusetts Electric Company [Member] | Western Massachusetts Electric Company [Member] | Western Massachusetts Electric Company [Member] | Western Massachusetts Electric Company [Member] | Western Massachusetts Electric Company [Member] | Western Massachusetts Electric Company [Member] | Western Massachusetts Electric Company [Member] | Western Massachusetts Electric Company [Member] | Western Massachusetts Electric Company [Member] | ||||||||||||||||||||||||||||||||||||
Schedule Of Available For Sale Securities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value Of Securities Under Fair Value Option | $54.30 | ' | $54.30 | ' | $47 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 3 | 1.9 | 7.3 | 4.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investments, Debt and Equity Securities [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available For Sale Securities Fair Value Disclosure | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 303.8 | 279.8 | 57.8 | 57.7 | 204.9 | 165.5 |
Available-for-sale Securities, Gross Unrealized Gains | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.5 | 13.3 | 0 | 0.1 | 40.9 | 20 |
AvailableForSaleSecuritiesGrossUnrealizedLoss | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3.8 | -0.1 | 0 | -0.1 | ' | ' |
Available For Sale Securities Amortized Cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 306.1 | 266.6 | 57.8 | 57.7 | 164 | 145.5 |
Marketable Securities, Restricted | 403.1 | ' | 403.1 | ' | 340.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available For Sale Securities Debt Maturities Fair Value Abstract | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value | 57.3 | ' | 57.3 | ' | ' | 2.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available For Sale Securities Debt Maturities After Ten Years Fair Value | 104.6 | ' | 104.6 | ' | ' | 4.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available For Sale Securities Debt Maturities After One Year Through Five Years Fair Value | 76.6 | ' | 76.6 | ' | ' | 26.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available For Sale Securities Debt Maturities Within One Year Fair Value | 65.3 | ' | 65.3 | ' | ' | 24.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available For Sale Securities Debt Maturities Fair Value | 303.8 | ' | 303.8 | ' | ' | 57.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available For Sale Securities Debt Maturities Amortized Cost Abstract | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost | 76 | ' | 76 | ' | ' | 26.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available For Sale Securities Debt Maturities Within One Year Amortized Cost | 67.1 | ' | 67.1 | ' | ' | 24.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available For Sale Securities Debt Maturities After Ten Years Amortized Cost | 104.6 | ' | 104.6 | ' | ' | 4.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost | 58.4 | ' | 58.4 | ' | ' | 2.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available For Sale Securities Debt Maturities Amortized Cost | 306.1 | ' | 306.1 | ' | ' | 57.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investments Fair Value Disclosure | $563 | ' | $563 | ' | $492.30 | $57.80 | $57.70 | $299.20 | $252.70 | $2.80 | $5.20 | $263.80 | $239.60 | $55 | $52.50 | $74.90 | $69.90 | $16.60 | $18.70 | $48.90 | $33 | $15.10 | $7 | $30.40 | $28.50 | $9.60 | $10.90 | $93.70 | $93.80 | $8.80 | $11.60 | $15.90 | $14.40 | $4.90 | $4.30 | $40 | $40.20 | $2.80 | $5.20 | $259.20 | $212.50 | ' | ' | ' | ' | ' | ' |
SHORT_TERM_AND_LONG_TERM_DEBT_
SHORT TERM AND LONG TERM DEBT (Details) | 9 Months Ended |
Sep. 30, 2013 | |
Line of Credit Facility [Line Items] | ' |
Description of commercial paper program | 'On September 6, 2013, NU parent, CL&P, NSTAR LLC, NSTAR Gas, PSNH, WMECO and Yankee Gas amended their joint five-year $1.15 billion revolving credit facility dated July 25, 2012, by increasing the aggregate principal amount available thereunder by $300 million to $1.45 billion, extending the expiration date from July 25, 2017 to September 6, 2018, and increasing CL&P's borrowing sublimit from $300 million to $600 million. At the same time, effective September 6, 2013, the CL&P $300 million revolving credit facility was terminated. On September 6, 2013, NSTAR Electric amended its five-year $450 million revolving credit facility dated July 25, 2012 by extending the expiration date from July 25, 2017 to September 6, 2018. On September 6, 2013, the NU parent $1.15 billion commercial paper program was increased by $300 million to $1.45 billion. As of September 30, 2013 and December 31, 2012, NU had approximately $1.2 billion and $1.15 billion, respectively, in short-term borrowings outstanding under the NU parent commercial paper program, which provides $263 million of available borrowing capacity as of September 30, 2013. The weighted-average interest rate on these borrowings as of September 30, 2013 and December 31, 2012 was 0.268 percent and 0.46 percent, respectively, which is generally based on money market rates. As of September 30, 2013, there were intercompany loans from NU of $342.9 million to CL&P, $228.5 million to PSNH and $79.8 million to WMECO. As of December 31, 2012, there were intercompany loans from NU of $405.1 million to CL&P, $63.3 million to PSNH, and $31.9 million to WMECO. As of September 30, 2013 and December 31, 2012, NSTAR Electric had $156 million and $276 million, respectively, in short-term borrowings outstanding under its commercial paper program, leaving $294 million and $174 million, respectively, of available borrowing capacity. The weighted-average interest rate on these borrowings as of September 30, 2013 and December 31, 2012 was 0.134 percent and 0.31 percent, respectively, which is generally based on money market rates. Amounts outstanding under the commercial paper programs are included in Notes Payable for NU and NSTAR Electric and classified in current liabilities on the balance sheets as all borrowings are outstanding for no more than 364 days at one time. Intercompany loans from NU to CL&P, PSNH and WMECO are included in Notes Payable to Affiliated Companies and classified in current liabilities on the balance sheets. |
Description of Working Capital | 'Working Capital: NU, CL&P, NSTAR Electric, PSNH and WMECO use their available capital resources to fund their respective construction expenditures, meet debt requirements, pay operating costs, including storm-related costs, pay dividends and fund other corporate obligations, such as pension contributions. The current growth in NU’s transmission construction expenditures utilizes a significant amount of cash for projects that have a long-term return on investment and recovery period. In addition, NU’s Regulated companies operate in an environment where recovery of its electric and natural gas distribution construction expenditures takes place over an extended period of time. This impacts the timing of the revenue stream designed to fully recover the total investment plus a return on the equity portion of the cost and related financing costs. These factors have resulted in current liabilities exceeding current assets by approximately $1.4 billion, $392 million, $315 million, $114 million and $11 million at NU, CL&P, NSTAR Electric, PSNH and WMECO, respectively, as of September 30, 2013. As of September 30, 2013, approximately $577 million of NU's current liabilities related to long-term debt that will be paid in the next 12 months, primarily consisting of $150 million for CL&P, $302 million for NSTAR Electric and $50 million for PSNH. NU, with its strong credit ratings, has several options available in the financial markets to repay or refinance these maturities with the issuance of new long-term debt. NU, CL&P, NSTAR Electric, PSNH and WMECO will reduce their short-term borrowings with cash received from operating cash flows and/or with the issuance of new long-term debt, as deemed appropriate given capital requirements and maintenance of NU's credit rating and profile. Management expects the future operating cash flows of NU, CL&P, NSTAR Electric, PSNH and WMECO along with the access to financial markets, will be sufficient to meet any future operating requirements and forecasted capital investment opportunities. |
Long-term Debt, Description | 'Long-Term Debt: On January 15, 2013, CL&P issued $400 million of Series A First and Refunding Mortgage Bonds with a coupon rate of 2.5 percent and a maturity date of January 15, 2023. The proceeds, net of issuance costs, were used to pay short-term borrowings outstanding under the CL&P credit agreement and the NU parent commercial paper program. Therefore, as of December 31, 2012, CL&P's credit agreement borrowings of $89 million and intercompany loans related to the commercial paper program of $305.8 million were classified as Long-Term Debt on the balance sheet. On May 1, 2013, PSNH redeemed at par approximately $109 million of the 2001 Series C PCRBs that were due to mature in 2021 using short-term debt. On May 13, 2013, NU parent issued $750 million of Senior Notes, consisting of $300 million of Series E Senior Notes at a coupon rate of 1.45 percent that will mature on May 1, 2018 and $450 million of Series F Senior Notes at a coupon rate of 2.80 percent that will mature on May 1, 2023. Part of the proceeds, net of issuance costs, was used to repay the NU parent $250 million Series C Senior Notes at a coupon rate of 5.65 percent that matured on June 1, 2013 and the NU parent $300 million floating rate Series D Senior Notes that matured on September 20, 2013. The remaining net proceeds were used to repay commercial paper borrowings and for other general corporate purposes. On May 17, 2013, NSTAR Electric issued $200 million of three-year floating rate debentures due to mature on May 17, 2016. The proceeds, net of issuance costs, were used to repay commercial paper borrowings and for general corporate purposes. The debentures have a coupon rate reset quarterly based on 3-month LIBOR plus a credit spread of 0.24 percent. The interest rate as of September 30, 2013 was 0.5032 percent. On September 1, 2013, WMECO repaid at maturity, $55 million of 5.00 percent Series A Senior Notes using short-term debt. On September 3, 2013, CL&P redeemed at par $125 million of 1.25 percent Series B 2011 PCRBs that were subject to mandatory tender for purchase using short-term debt. On September 20, 2013, NU parent repaid at maturity, $300 million of Floating Rate Series D Senior Notes with proceeds from NU parent’s issuance on May 13, 2013 of $750 million of Series E and Series F Senior Notes. On August 29, 2013, NSTAR Electric filed an application with the DPU requesting authorization to issue up to $800 million in long-term debt for the two-year period ending December 31, 2015. On September 26, 2013, the NHPUC issued an order, effective October 8, 2013, approving PSNH's request to issue up to $315 million in long-term debt through December 31, 2014, and to refinance $89.3 million 2001 Series B PCRBs through its existing maturity of May 2021. |
The Connecticut Light And Power Company [Member] | ' |
Line of Credit Facility [Line Items] | ' |
Long-term Debt, Description | 'On January 15, 2013, CL&P issued $400 million of Series A First and Refunding Mortgage Bonds with a coupon rate of 2.5 percent and a maturity date of January 15, 2023. The proceeds, net of issuance costs, were used to pay short-term borrowings outstanding under the CL&P credit agreement and the NU parent commercial paper program. Therefore, as of December 31, 2012, CL&P's credit agreement borrowings of $89 million and intercompany loans related to the commercial paper program of $305.8 million were classified as Long-Term Debt on the balance sheet. On September 3, 2013, CL&P redeemed at par $125 million of 1.25 percent Series B 2011 PCRBs that were subject to mandatory tender for purchase using short-term debt. |
NSTAR Electric Company [Member] | ' |
Line of Credit Facility [Line Items] | ' |
Long-term Debt, Description | 'On May 17, 2013, NSTAR Electric issued $200 million of three-year floating rate debentures due to mature on May 17, 2016. The proceeds, net of issuance costs, were used to repay commercial paper borrowings and for general corporate purposes. The debentures have a coupon rate reset quarterly based on 3-month LIBOR plus a credit spread of 0.24 percent. The interest rate as of September 30, 2013 was 0.5032 percent. |
Public Service Company Of New Hampshire [Member] | ' |
Line of Credit Facility [Line Items] | ' |
Long-term Debt, Description | 'On May 1, 2013, PSNH redeemed at par approximately $109 million of the 2001 Series C PCRBs that were due to mature in 2021 using short-term debt. |
Western Massachusetts Electric Company [Member] | ' |
Line of Credit Facility [Line Items] | ' |
Long-term Debt, Description | 'On September 1, 2013, WMECO repaid at maturity, $55 million of 5.00 percent Series A Senior Notes using short-term debt. |
PENSION_BENEFITS_AND_POSTRETIR1
PENSION BENEFITS AND POSTRETIREMENT BENEFITS OTHER THAN PENSIONS (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Pension Plans Defined Benefit Member | ' | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ' |
Defined Benefit Plan Service Cost | $25.60 | $23 | $76.70 | $61.10 |
Defined Benefit Plan Interest Cost | 51.7 | 53.3 | 155 | 144.7 |
Defined Benefit Plan, Expected Return on Plan Assets | -69.5 | -59.5 | -208.5 | -161.3 |
Defined Benefit Plan, Amortization of Gains (Losses) | 52.4 | 47.4 | 158.1 | 125 |
Defined Benefit Plan Amortization Of Prior Service Cost Credit | 1.1 | 2 | 3 | 6.1 |
Defined Benefit Plan Net Periodic Benefit Cost | 61.3 | 66.2 | 184.3 | 175.6 |
Amount Capitalized Defined Benefit Expense | 18.3 | 19.2 | 54.9 | 49.5 |
DescriptionOfDefinedContributionPensionAndOtherPostretirementPlans | ' | ' | ': For the nine months ended September 30, 2013, NU contributed $202.7 million to the NUSCO Pension Plan, $108.3 million of which was contributed by PSNH, and NSTAR Electric contributed $82 million to the NSTAR Pension Plan. | ' |
Other Postretirement Benefit Plans Defined Benefit Member | ' | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ' |
Defined Benefit Plan Service Cost | 4.2 | 4.4 | 12.6 | 11.3 |
Defined Benefit Plan Interest Cost | 11.8 | 14.3 | 35.4 | 34.4 |
Defined Benefit Plan, Expected Return on Plan Assets | -13.9 | -11.1 | -41.6 | -28.1 |
Defined Benefit Plan, Amortization of Gains (Losses) | 6.5 | 10.3 | 19.5 | 25.5 |
Defined Benefit Plan Amortization Of Transition Obligations Assets | ' | 3.1 | ' | 9 |
Defined Benefit Plan Amortization Of Prior Service Cost Credit | -0.5 | -0.5 | -1.5 | -0.9 |
Defined Benefit Plan Net Periodic Benefit Cost | 8.1 | 20.5 | 24.4 | 51.2 |
Amount Capitalized Defined Benefit Expense | 2.6 | 5.1 | 7.6 | 14.9 |
DescriptionOfDefinedContributionPensionAndOtherPostretirementPlans | ' | ' | 'Â NU contributed $53.6 million to the PBOP Plans for the nine months ended September 30, 2013 | ' |
The Connecticut Light And Power Company [Member] | Pension Plans Defined Benefit Member | ' | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ' |
Defined Benefit Plan Service Cost | 6.3 | 5.4 | 18.7 | 16.3 |
Defined Benefit Plan Interest Cost | 12.1 | 12.9 | 36.3 | 38.5 |
Defined Benefit Plan, Expected Return on Plan Assets | -18.4 | -17.7 | -55.4 | -52.8 |
Defined Benefit Plan, Amortization of Gains (Losses) | 13.9 | 12.6 | 42 | 37 |
Defined Benefit Plan Amortization Of Prior Service Cost Credit | 0.4 | 0.9 | 1.4 | 2.7 |
Defined Benefit Plan Net Periodic Benefit Cost | 14.3 | 14.1 | 43 | 41.7 |
Related Intercompany Allocationsof Defined Benefit Expense | 11.4 | 10.7 | 33.6 | 32 |
Amount Capitalized Defined Benefit Expense | 7 | 6.8 | 21 | 20.2 |
The Connecticut Light And Power Company [Member] | Other Postretirement Benefit Plans Defined Benefit Member | ' | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ' |
Defined Benefit Plan Service Cost | 0.9 | 0.8 | 2.6 | 2.2 |
Defined Benefit Plan Interest Cost | 2 | 2.3 | 5.9 | 6.9 |
Defined Benefit Plan, Expected Return on Plan Assets | -2.5 | -2.3 | -7.6 | -6.8 |
Defined Benefit Plan, Amortization of Gains (Losses) | 1.8 | 1.9 | 5.6 | 5.7 |
Defined Benefit Plan Amortization Of Transition Obligations Assets | ' | 1.5 | 0 | 4.6 |
Defined Benefit Plan Net Periodic Benefit Cost | 2.2 | 4.2 | 6.5 | 12.6 |
Related Intercompany Allocationsof Defined Benefit Expense | 1.7 | 2 | 5.3 | 5.9 |
Amount Capitalized Defined Benefit Expense | 1.3 | 2.1 | 3.7 | 6.2 |
NSTAR Electric Company [Member] | Pension Plans Defined Benefit Member | ' | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ' |
Defined Benefit Plan Service Cost | 8.3 | 7.6 | 24.8 | 22.7 |
Defined Benefit Plan Interest Cost | 14.5 | 14.7 | 43.5 | 44.2 |
Defined Benefit Plan, Expected Return on Plan Assets | -21.1 | -16.4 | -63.3 | -49.2 |
Defined Benefit Plan, Amortization of Gains (Losses) | 14.4 | 15.7 | 43.6 | 47.3 |
Defined Benefit Plan Amortization Of Prior Service Cost Credit | 0 | -0.1 | -0.2 | -0.4 |
Defined Benefit Plan Net Periodic Benefit Cost | 16.1 | 21.5 | 48.4 | 64.6 |
Related Intercompany Allocationsof Defined Benefit Expense | -2.1 | -3 | -6.2 | -9.2 |
Amount Capitalized Defined Benefit Expense | 9.8 | 8.4 | 21.6 | 23.6 |
NSTAR Electric Company [Member] | Other Postretirement Benefit Plans Defined Benefit Member | ' | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ' |
Related Intercompany Allocationsof Defined Benefit Expense | 1.2 | 8.5 | 3.5 | 25.6 |
Public Service Company Of New Hampshire [Member] | Pension Plans Defined Benefit Member | ' | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ' |
Defined Benefit Plan Service Cost | 3.3 | 2.9 | 9.8 | 8.8 |
Defined Benefit Plan Interest Cost | 5.8 | 6.1 | 17.8 | 18.3 |
Defined Benefit Plan, Expected Return on Plan Assets | -9.2 | -7.2 | -26.2 | -21.1 |
Defined Benefit Plan, Amortization of Gains (Losses) | 5.4 | 4.2 | 16.2 | 12.1 |
Defined Benefit Plan Amortization Of Prior Service Cost Credit | 0.1 | 0.4 | 0.4 | 1.1 |
Defined Benefit Plan Net Periodic Benefit Cost | 5.4 | 6.4 | 18 | 19.2 |
Related Intercompany Allocationsof Defined Benefit Expense | 2.6 | 2.4 | 7.8 | 7.5 |
Amount Capitalized Defined Benefit Expense | 1.7 | 1.9 | 5.6 | 5.8 |
Public Service Company Of New Hampshire [Member] | Other Postretirement Benefit Plans Defined Benefit Member | ' | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ' |
Defined Benefit Plan Service Cost | 0.6 | 0.5 | 1.7 | 1.5 |
Defined Benefit Plan Interest Cost | 1 | 1.1 | 3.1 | 3.4 |
Defined Benefit Plan, Expected Return on Plan Assets | -1.3 | -1.1 | -3.9 | -3.4 |
Defined Benefit Plan, Amortization of Gains (Losses) | 0.9 | 0.9 | 2.7 | 2.7 |
Defined Benefit Plan Amortization Of Transition Obligations Assets | ' | 0.6 | 0 | 1.9 |
Defined Benefit Plan Net Periodic Benefit Cost | 1.2 | 2 | 3.6 | 6.1 |
Related Intercompany Allocationsof Defined Benefit Expense | 0.4 | 0.5 | 1.2 | 1.5 |
Amount Capitalized Defined Benefit Expense | 0.4 | 0.6 | 1.1 | 1.7 |
Western Massachusetts Electric Company [Member] | Pension Plans Defined Benefit Member | ' | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ' |
Defined Benefit Plan Service Cost | 1.2 | 1 | 3.5 | 3.1 |
Defined Benefit Plan Interest Cost | 2.5 | 2.6 | 7.5 | 7.9 |
Defined Benefit Plan, Expected Return on Plan Assets | -4.3 | -4.1 | -13 | -12.3 |
Defined Benefit Plan, Amortization of Gains (Losses) | 2.9 | 2.7 | 8.9 | 8 |
Defined Benefit Plan Amortization Of Prior Service Cost Credit | 0.1 | 0.2 | 0.3 | 0.6 |
Defined Benefit Plan Net Periodic Benefit Cost | 2.4 | 2.4 | 7.2 | 7.3 |
Related Intercompany Allocationsof Defined Benefit Expense | 2 | 2.1 | 6 | 6 |
Amount Capitalized Defined Benefit Expense | 1.3 | 1.3 | 3.9 | 3.7 |
Western Massachusetts Electric Company [Member] | Other Postretirement Benefit Plans Defined Benefit Member | ' | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ' |
Defined Benefit Plan Service Cost | 0.2 | 0.1 | 0.5 | 0.4 |
Defined Benefit Plan Interest Cost | 0.4 | 0.5 | 1.3 | 1.5 |
Defined Benefit Plan, Expected Return on Plan Assets | -0.6 | -0.5 | -1.7 | -1.6 |
Defined Benefit Plan, Amortization of Gains (Losses) | 0.3 | 0.3 | 0.8 | 0.9 |
Defined Benefit Plan Amortization Of Transition Obligations Assets | ' | 0.3 | 0 | 1.1 |
Defined Benefit Plan Net Periodic Benefit Cost | 0.3 | 0.7 | 0.9 | 2.3 |
Related Intercompany Allocationsof Defined Benefit Expense | 0.3 | 0.4 | 1 | 1.1 |
Amount Capitalized Defined Benefit Expense | $0.30 | $0.40 | $0.70 | $1.10 |
INCOME_TAXES_Details
INCOME TAXES (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | ' | ' | ' | ' |
Total Deferred Income Taxes | ' | ' | $334,225 | $186,181 |
Income Tax Expense | 109,351 | 117,360 | 325,442 | 199,379 |
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract] | ' | ' | ' | ' |
Income Before Income Tax Expense | 320,731 | 326,868 | 939,855 | 555,861 |
Income Tax Expense | 109,351 | 117,360 | 325,442 | 199,379 |
Other Tax Disclosures [Abstract] | ' | ' | ' | ' |
Other Information Pertaining To Income Taxes | ' | ' | '2013 Massachusetts: On July 24, 2013, Massachusetts enacted a law that changes the income tax rate applicable to utility companies effective January 1, 2014, from 6.5 percent to 8 percent. The tax law change required NU to remeasure its deferred taxes and resulted in NU increasing its deferred tax liability with an offsetting regulatory asset of approximately $61 million at its utility companies ($46.4 million at NSTAR Electric and $9.8 million at WMECO). 2013 Federal: On September 13, 2013, the Internal Revenue Service issued final Tangible Property regulations. The final regulations are meant to simplify, clarify and make more administrable the previously issued temporary and proposed regulations. In the third quarter of 2013, CL&P recorded an after-tax valuation allowance of $10.5 million against its deferred tax assets as a result of these regulations. NU continues to evaluate the implications of these new regulations, including several new elections. Therefore, a change to the valuation allowance at CL&P could result once NU completes the review of the impact of the final regulations. | ' |
The Connecticut Light And Power Company [Member] | ' | ' | ' | ' |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | ' | ' | ' | ' |
Total Deferred Income Taxes | ' | ' | 89,084 | 97,224 |
Income Tax Expense | 36,136 | 34,121 | 113,149 | 63,917 |
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract] | ' | ' | ' | ' |
Income Before Income Tax Expense | 102,459 | 109,007 | 332,337 | 199,721 |
Income Tax Expense | 36,136 | 34,121 | 113,149 | 63,917 |
NSTAR Electric Company [Member] | ' | ' | ' | ' |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | ' | ' | ' | ' |
Total Deferred Income Taxes | ' | ' | 26,358 | -20,250 |
Income Tax Expense | 68,558 | 69,373 | 137,499 | 102,220 |
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract] | ' | ' | ' | ' |
Income Before Income Tax Expense | 175,567 | 176,135 | 350,661 | 258,404 |
Income Tax Expense | 68,558 | 69,373 | 137,499 | 102,220 |
Public Service Company Of New Hampshire [Member] | ' | ' | ' | ' |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | ' | ' | ' | ' |
Total Deferred Income Taxes | ' | ' | 57,066 | 39,108 |
Income Tax Expense | 18,196 | 21,106 | 52,797 | 48,037 |
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract] | ' | ' | ' | ' |
Income Before Income Tax Expense | 46,549 | 48,338 | 137,340 | 117,763 |
Income Tax Expense | 18,196 | 21,106 | 52,797 | 48,037 |
Western Massachusetts Electric Company [Member] | ' | ' | ' | ' |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | ' | ' | ' | ' |
Total Deferred Income Taxes | ' | ' | 79,401 | 30,565 |
Income Tax Expense | 8,588 | 7,977 | 30,424 | 24,385 |
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract] | ' | ' | ' | ' |
Income Before Income Tax Expense | 23,613 | 22,061 | 80,465 | 63,793 |
Income Tax Expense | $8,588 | $7,977 | $30,424 | $24,385 |
Environmental_Matters_Details
Environmental Matters (Details) (USD $) | 9 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Site Contingency [Line Items] | ' | ' |
Environmental Site Quantity | 68 | 77 |
Accrual for Environmental Loss Contingencies [Roll Forward] | ' | ' |
Beginning Balance | $39.40 | ' |
Ending Balance | 36.5 | 39.4 |
MGP Site accrual [Member] | ' | ' |
Accrual for Environmental Loss Contingencies [Roll Forward] | ' | ' |
Ending Balance | 32.4 | 34.5 |
The Connecticut Light And Power Company [Member] | ' | ' |
Site Contingency [Line Items] | ' | ' |
Environmental Site Quantity | 18 | 19 |
Accrual for Environmental Loss Contingencies [Roll Forward] | ' | ' |
Beginning Balance | 3.7 | ' |
Ending Balance | 3.5 | 3.7 |
NSTAR Electric Company [Member] | ' | ' |
Site Contingency [Line Items] | ' | ' |
Environmental Site Quantity | 12 | 16 |
Accrual for Environmental Loss Contingencies [Roll Forward] | ' | ' |
Beginning Balance | 1.7 | ' |
Ending Balance | 1.2 | 1.7 |
Public Service Company Of New Hampshire [Member] | ' | ' |
Site Contingency [Line Items] | ' | ' |
Environmental Site Quantity | 15 | 16 |
Accrual for Environmental Loss Contingencies [Roll Forward] | ' | ' |
Beginning Balance | 4.9 | ' |
Ending Balance | 5.6 | 4.9 |
Western Massachusetts Electric Company [Member] | ' | ' |
Site Contingency [Line Items] | ' | ' |
Environmental Site Quantity | 5 | 6 |
Accrual for Environmental Loss Contingencies [Roll Forward] | ' | ' |
Beginning Balance | 0.6 | ' |
Ending Balance | $0.40 | $0.60 |
LongTerm_Contractual_Arrangeme1
Long-Term Contractual Arrangements (Details) (USD $) | Sep. 30, 2013 |
In Millions, unless otherwise specified | |
The Connecticut Light And Power Company [Member] | Renewable Energy Contracts [Member] | ' |
Long-term Purchase Commitment [Line Items] | ' |
Unrecorded Unconditional Purchase Obligation, Due within One Year | $1.20 |
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 49.9 |
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 50.9 |
Unrecorded Unconditional Purchase Obligation, Due within Four Years | 51.4 |
Unrecorded Unconditional Purchase Obligation, Due within Five Years | 52 |
Unrecorded Unconditional Purchase Obligation, Due after Five Years | 626 |
Unrecorded Unconditional Purchase Obligation, Total | 831.4 |
The Connecticut Light And Power Company [Member] | Yankee Companies Billings [Member] | ' |
Long-term Purchase Commitment [Line Items] | ' |
Unrecorded Unconditional Purchase Obligation, Due within One Year | 0.4 |
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 1.5 |
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 1.3 |
Unrecorded Unconditional Purchase Obligation, Due within Four Years | 0.8 |
Unrecorded Unconditional Purchase Obligation, Due within Five Years | 0.8 |
Unrecorded Unconditional Purchase Obligation, Due after Five Years | 13.1 |
Unrecorded Unconditional Purchase Obligation, Total | 17.9 |
NSTAR Electric Company [Member] | Yankee Companies Billings [Member] | ' |
Long-term Purchase Commitment [Line Items] | ' |
Unrecorded Unconditional Purchase Obligation, Due within One Year | 0.2 |
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 0.7 |
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 0.5 |
Unrecorded Unconditional Purchase Obligation, Due within Four Years | 0.2 |
Unrecorded Unconditional Purchase Obligation, Due within Five Years | 0.3 |
Unrecorded Unconditional Purchase Obligation, Due after Five Years | 4.5 |
Unrecorded Unconditional Purchase Obligation, Total | 6.4 |
Public Service Company Of New Hampshire [Member] | Yankee Companies Billings [Member] | ' |
Long-term Purchase Commitment [Line Items] | ' |
Unrecorded Unconditional Purchase Obligation, Due within One Year | 0.1 |
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 0.3 |
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 0.4 |
Unrecorded Unconditional Purchase Obligation, Due within Four Years | 0.3 |
Unrecorded Unconditional Purchase Obligation, Due within Five Years | 0.3 |
Unrecorded Unconditional Purchase Obligation, Due after Five Years | 5.2 |
Unrecorded Unconditional Purchase Obligation, Total | 6.6 |
Western Massachusetts Electric Company [Member] | Yankee Companies Billings [Member] | ' |
Long-term Purchase Commitment [Line Items] | ' |
Unrecorded Unconditional Purchase Obligation, Due within One Year | 0.1 |
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 0.4 |
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 0.4 |
Unrecorded Unconditional Purchase Obligation, Due within Four Years | 0.2 |
Unrecorded Unconditional Purchase Obligation, Due within Five Years | 0.2 |
Unrecorded Unconditional Purchase Obligation, Due after Five Years | 3.3 |
Unrecorded Unconditional Purchase Obligation, Total | $4.60 |
Guarantees_and_Indemnification1
Guarantees and Indemnifications (Details) (USD $) | Sep. 30, 2013 |
In Millions, unless otherwise specified | |
Guarantee Of Financial Obligations Of Npt [Member] | ' |
Guarantee Obligations [Line Items] | ' |
Guarantee Obligations Maximum Exposure | $25 |
Various Subsidiary Surety Bonds And Performance Guarantees Expiring Between 2013 And 2015 [Member] | ' |
Guarantee Obligations [Line Items] | ' |
Guarantee Obligations Maximum Exposure | 33 |
Guarantee Of Rocky River Reality And Nusco Lease Payments For Real Estate And Vehicles Expiring 2019 Through 2024 [Member] | ' |
Guarantee Obligations [Line Items] | ' |
Guarantee Obligations Maximum Exposure | 18.8 |
Guarantee Of Nuei Surety Bonds Insurance Bonds And Performance Guarantees [Member] | ' |
Guarantee Obligations [Line Items] | ' |
Guarantee Obligations Maximum Exposure | 62.3 |
Guarantee Of Ngs Insurance Bond [Member] | ' |
Guarantee Obligations [Line Items] | ' |
Guarantee Obligations Maximum Exposure | 1 |
Guarantee Of Es Boulos Surety Bonds Expiring Upon Project Completion [Member] | ' |
Guarantee Obligations [Line Items] | ' |
Guarantee Obligations Maximum Exposure | 57.5 |
Guarantee Of Select Energy Wholesale Purchase Contracts [Member] | ' |
Guarantee Obligations [Line Items] | ' |
Guarantee Obligations Maximum Exposure | 3.8 |
Guarantee Of Debt Of Ne Hydros [Member] | ' |
Guarantee Obligations [Line Items] | ' |
Guarantee Obligations Maximum Exposure | $4 |
Other_Contingencies_Details
Other Contingencies (Details) (Unfavorable Regulatory Action [Member]) | 9 Months Ended |
Sep. 30, 2013 | |
Unfavorable Regulatory Action [Member] | ' |
Loss Contingencies Line Items | ' |
Loss Contingency, Description | '     FERC Base ROE Complaint On September 30, 2011, several New England state attorneys general, state regulatory commissions, consumer advocates and other parties filed a joint complaint with the FERC under Sections 206 and 306 of the Federal Power Act alleging that the base ROE used in calculating formula rates for transmission service under the ISO-NE Open Access Transmission Tariff by NETOs, including CL&P, NSTAR Electric, PSNH and WMECO, is unjust and unreasonable. The complainants asserted that the current 11.14 percent rate, which became effective in 2006, is excessive due to changes in the capital markets and are seeking an order to reduce the rate, which would be effective October 1, 2011. In response, the NETOs filed testimony and analysis based on standard FERC methodology and precedent, demonstrating that the base ROE of 11.14 percent remained just and reasonable. The FERC set the case for trial before a FERC ALJ after settlement negotiations were unsuccessful in August 2012. Hearings before the FERC ALJ were held in May 2013, followed by the filing of briefs by the complainants, the Massachusetts municipal electric utilities (late interveners to the case), the FERC trial staff and the NETOs. The NETOs recommended that the current base ROE of 11.14 percent should remain in effect for the refund period (October 1, 2011 through December 31, 2012) and the prospective period (beginning when FERC issues its final decision). The complainants, the Massachusetts municipal electric utilities, and the FERC trial staff each recommended a base ROE of 9 percent or below. On August 6, 2013, the FERC ALJ issued an initial decision, finding that the current base ROE is not reasonable under the standard application of FERC methodology, but leaving policy considerations and additional adjustments to the FERC. Using the established FERC methodology, the FERC ALJ determined that a separate base ROE should be set for the refund period and the prospective period. The FERC ALJ found those base ROEs to be 10.6 percent and 9.7 percent, respectively. The FERC may adjust the prospective period base ROE in its final decision to reflect movement in 10-year Treasury bond rates from when the case was filed (April 2013) to the date of the final decision. The parties filed briefs on this decision to the FERC, and a decision from the FERC is expected in 2014. Though NU cannot predict the ultimate outcome of this proceeding, during the third quarter of 2013, the Company recorded a series of reserves at its electric subsidiaries to recognize the potential financial impact from the FERC ALJ's initial decision for the refund period. As a result, the aggregate after-tax charge to earnings totaled $14.3 million at NU. This represents reserves of $7.7 million at CL&P, $3.4 million at NSTAR Electric, $1.4 million at PSNH and $1.8 million at WMECO. On December 27, 2012, several additional parties filed a separate complaint concerning the NETOs' base ROE with the FERC. This complaint seeks to reduce the NETOs’ base ROE effective January 1, 2013, effectively extending the refund period for an additional 15 months, and to consolidate this complaint with the joint complaint filed on September 30, 2011. The NETOs have asked the FERC to reject this complaint. The FERC has not yet acted on, and management is unable to predict the ultimate outcome or the estimated impacts on financial position, results of operations or cash flows, of this complaint. Management expects the CL&P, NSTAR Electric, PSNH, and WMECO aggregate shareholder equity invested in their transmission facilities to be approximately $2.4 billion at the end of 2013. As a result, each 10 basis point change in the prospective period authorized base ROE would change annual consolidated earnings by an approximate $2.4 million. F. DPU Safety and Reliability Programs - CPSL Since 2006, NSTAR Electric has been recovering incremental costs related to the DPU-approved Safety and Reliability Programs. From 2006 through 2011, cumulative costs associated with the CPSL program resulted in an incremental revenue requirement to customers of approximately $83 million. These amounts included incremental operations and maintenance costs and the related revenue requirement for specific capital investments relative to the CPSL programs. On May 28, 2010, the DPU issued an order on NSTAR Electric’s 2006 CPSL cost recovery filing (the May 2010 Order). In October 2010, NSTAR Electric filed a reconciliation of the cumulative CPSL program activity for the periods 2006 through 2009 with the DPU in order to determine a proposed rate adjustment. The DPU allowed the proposed rates to go into effect January 1, 2011, subject to final reconciliation of CPSL program costs through a future DPU proceeding. In February 2013, NSTAR Electric updated the October 2010 filing with final activity through 2011. NSTAR Electric recorded its 2006 through 2011 revenues under the CPSL programs based on the May 2010 Order. NSTAR Electric cannot predict the timing of a final DPU order related to its CPSL filings for the period 2006 through 2011. While management does not believe that any subsequent DPU order would result in revenues that are materially different than the amounts already recognized, it is reasonably possible that an order could have a material impact on NSTAR Electric’s results of operations, financial position and cash flows. G. Basic Service Bad Debt Adder In accordance with a generic DPU order, electric utilities in Massachusetts recover the energy-related portion of bad debt costs in their Basic Service rates. In 2007, NSTAR Electric filed its 2006 Basic Service reconciliation with the DPU proposing an adjustment related to the increase of its Basic Service bad debt charge-offs. The DPU issued an order approving the implementation of a revised Basic Service rate but instructed NSTAR Electric to reduce distribution rates by an amount equal to the increase in its Basic Service bad debt charge-offs. This adjustment to NSTAR Electric’s distribution rates would eliminate the fully reconciling nature of the Basic Service bad debt adder. In 2010, NSTAR Electric filed an appeal of the DPU’s order with the SJC. In 2012, the SJC vacated the DPU order and remanded the matter to the DPU for further review. NSTAR Electric deferred approximately $34 million of costs associated with energy-related bad debt as a regulatory asset through 2011 as NSTAR Electric had concluded that it was probable that these costs would ultimately be recovered from customers. Due to the delays and duration of the proceedings, NSTAR Electric concluded that while an ultimate outcome on the matter in its favor remained "more likely than not," it could no longer be deemed "probable." As a result, NSTAR Electric recognized a reserve related to the regulatory asset in the first quarter of 2012. NSTAR Electric will continue to maintain the reserve until the ultimate outcome of the proceeding has been concluded with the DPU. |
FAIR_VALUE_OF_FINANCIAL_INSTRU2
FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ' | ' |
Temporary Equity, Carrying Amount, Attributable to Noncontrolling Interest | $155,568,000 | $155,568,000 |
Rate Reduction Bonds | 0 | 82,139,000 |
Carrying Reported Amount Fair Value Disclosure [Member] | ' | ' |
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ' | ' |
Temporary Equity, Carrying Amount, Attributable to Noncontrolling Interest | 155,600,000 | 155,600,000 |
Rate Reduction Bonds | 0 | 82,100,000 |
Other Long Term Debt | 8,052,500,000 | 7,963,500,000 |
Estimate Of Fair Value Fair Value Disclosure [Member] | ' | ' |
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ' | ' |
Temporary Equity, Carrying Amount, Attributable to Noncontrolling Interest | 152,200,000 | 152,200,000 |
Rate Reduction Bonds | 0 | 83,000,000 |
Other Long Term Debt | 8,267,200,000 | 8,640,700,000 |
The Connecticut Light And Power Company [Member] | ' | ' |
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ' | ' |
Temporary Equity, Carrying Amount, Attributable to Noncontrolling Interest | 116,200,000 | 116,200,000 |
The Connecticut Light And Power Company [Member] | Carrying Reported Amount Fair Value Disclosure [Member] | ' | ' |
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ' | ' |
Temporary Equity, Carrying Amount, Attributable to Noncontrolling Interest | 116,200,000 | 116,200,000 |
Other Long Term Debt | 2,741,000,000 | 2,862,800,000 |
The Connecticut Light And Power Company [Member] | Estimate Of Fair Value Fair Value Disclosure [Member] | ' | ' |
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ' | ' |
Temporary Equity, Carrying Amount, Attributable to Noncontrolling Interest | 110,300,000 | 110,000,000 |
Other Long Term Debt | 2,992,000,000 | 3,295,400,000 |
NSTAR Electric Company [Member] | ' | ' |
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ' | ' |
Temporary Equity, Carrying Amount, Attributable to Noncontrolling Interest | 43,000,000 | 43,000,000 |
Rate Reduction Bonds | 0 | 43,493,000 |
NSTAR Electric Company [Member] | Carrying Reported Amount Fair Value Disclosure [Member] | ' | ' |
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ' | ' |
Temporary Equity, Carrying Amount, Attributable to Noncontrolling Interest | 43,000,000 | 43,000,000 |
Rate Reduction Bonds | ' | 43,500,000 |
Other Long Term Debt | 1,801,000,000 | 1,602,600,000 |
NSTAR Electric Company [Member] | Estimate Of Fair Value Fair Value Disclosure [Member] | ' | ' |
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ' | ' |
Temporary Equity, Carrying Amount, Attributable to Noncontrolling Interest | 41,900,000 | 42,200,000 |
Rate Reduction Bonds | ' | 43,900,000 |
Other Long Term Debt | 1,881,900,000 | 1,818,800,000 |
Public Service Company Of New Hampshire [Member] | ' | ' |
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ' | ' |
Rate Reduction Bonds | 0 | 29,294,000 |
Public Service Company Of New Hampshire [Member] | Carrying Reported Amount Fair Value Disclosure [Member] | ' | ' |
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ' | ' |
Rate Reduction Bonds | ' | 29,300,000 |
Other Long Term Debt | 889,100,000 | 997,900,000 |
Public Service Company Of New Hampshire [Member] | Estimate Of Fair Value Fair Value Disclosure [Member] | ' | ' |
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ' | ' |
Rate Reduction Bonds | ' | 29,600,000 |
Other Long Term Debt | 934,700,000 | 1,088,000,000 |
Western Massachusetts Electric Company [Member] | ' | ' |
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ' | ' |
Rate Reduction Bonds | 0 | 9,352,000 |
Western Massachusetts Electric Company [Member] | Carrying Reported Amount Fair Value Disclosure [Member] | ' | ' |
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ' | ' |
Rate Reduction Bonds | ' | 9,400,000 |
Other Long Term Debt | 549,600,000 | 605,300,000 |
Western Massachusetts Electric Company [Member] | Estimate Of Fair Value Fair Value Disclosure [Member] | ' | ' |
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ' | ' |
Rate Reduction Bonds | ' | 9,500,000 |
Other Long Term Debt | $562,100,000 | $660,400,000 |
ACCUMULATED_OTHER_COMPREHENSIV2
ACCUMULATED OTHER COMPREHENSIVE INCOME (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
AOCI Cash Flow Hedging Component [Abstract] | ' | ' | ' | ' |
Beginning Balance -AOCI From CF Hedges Effect Net Of Tax | ' | ' | ($16,400,000) | ' |
OCI Amortization of Cash Flow Hedge, Net of Tax | 500,000 | ' | 1,500,000 | ' |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | -509,000 | -516,000 | -1,539,000 | -1,455,000 |
Ending Balance - AOCI From CFHedges Effect Net Of Tax | -14,900,000 | ' | -14,900,000 | ' |
AOCI Unrealized GainLoss component [Abstract] | ' | ' | ' | ' |
AOCI Unrealized Gains/Losses on Other Securities | ' | ' | 1,300,000 | ' |
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax | ' | ' | -800,000 | ' |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | -38,000 | 217,000 | -810,000 | 411,000 |
AOCI Unrealized Gains/Losses on Other Securities-Ending Balance | 500,000 | ' | 500,000 | ' |
AOCI Defined Benefit Component [Abstract] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net of Tax | ' | ' | -57,800,000 | ' |
OCI Reclassification Of Defined Benefit Plans Net Gain Loss Net of Tax | 1,600,000 | ' | 4,800,000 | ' |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax | 1,611,000 | 1,445,000 | 4,738,000 | 4,611,000 |
Accumulated Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net of Tax | -53,000,000 | ' | -53,000,000 | ' |
AOCI Rollforward [Abstract] | ' | ' | ' | ' |
AOCI Beginning Balance | ' | ' | -72,854,000 | ' |
AmountReclassifiedFromAOCI | 2,100,000 | ' | 6,300,000 | ' |
OtherComprehensiveIncomeBeforeReclassifications | ' | ' | -800,000 | ' |
Other Comprehensive Income (Loss), Net of Tax, Total | 2,082,000 | 2,178,000 | 5,467,000 | 6,477,000 |
AOCI ending Balance | -67,387,000 | ' | -67,387,000 | ' |
Reclassication of Items out of AOCI [Abstract] | ' | ' | ' | ' |
OCI Amortization of Cash Flow Hedges, Before Tax | -800,000 | ' | -2,500,000 | ' |
OCI Amortization of Cash Flow Hedge, Net of Tax | -500,000 | ' | -1,500,000 | ' |
OCI Amortization of Prior Service Cost | ' | ' | -100,000 | ' |
OCI Reclass, Defined Benefit, Net GainLoss before Tax | -2,500,000 | ' | -7,300,000 | ' |
OCI Defined Benefit Plan Tax | 900,000 | ' | 2,600,000 | ' |
OCI Reclassification Of Defined Benefit Plans Net Gain Loss Net of Tax | -1,600,000 | ' | -4,800,000 | ' |
AmountReclassifiedFromAOCI | -2,100,000 | ' | -6,300,000 | ' |
OCI Reclass CF Hedging Tax | 300,000 | ' | 1,000,000 | ' |
The Connecticut Light And Power Company [Member] | ' | ' | ' | ' |
AOCI Cash Flow Hedging Component [Abstract] | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | -111,000 | -111,000 | -333,000 | -333,000 |
AOCI Unrealized GainLoss component [Abstract] | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | -1,000 | 8,000 | -27,000 | 14,000 |
AOCI Rollforward [Abstract] | ' | ' | ' | ' |
AOCI Beginning Balance | ' | ' | -1,800,000 | ' |
Other Comprehensive Income (Loss), Net of Tax, Total | 110,000 | 119,000 | 306,000 | 347,000 |
AOCI ending Balance | -1,494,000 | ' | -1,494,000 | ' |
Public Service Company Of New Hampshire [Member] | ' | ' | ' | ' |
AOCI Cash Flow Hedging Component [Abstract] | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | -290,000 | -291,000 | -872,000 | -872,000 |
AOCI Unrealized GainLoss component [Abstract] | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | -2,000 | 13,000 | -47,000 | 24,000 |
AOCI Defined Benefit Component [Abstract] | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax | 0 | -2,000 | -3,000 | 2,000 |
AOCI Rollforward [Abstract] | ' | ' | ' | ' |
AOCI Beginning Balance | ' | ' | -9,655,000 | ' |
Other Comprehensive Income (Loss), Net of Tax, Total | 288,000 | 302,000 | 822,000 | 898,000 |
AOCI ending Balance | -8,833,000 | ' | -8,833,000 | ' |
Western Massachusetts Electric Company [Member] | ' | ' | ' | ' |
AOCI Cash Flow Hedging Component [Abstract] | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | -85,000 | -84,000 | -254,000 | -253,000 |
AOCI Unrealized GainLoss component [Abstract] | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | 0 | 2,000 | -8,000 | 4,000 |
AOCI Rollforward [Abstract] | ' | ' | ' | ' |
AOCI Beginning Balance | ' | ' | -3,846,000 | ' |
Other Comprehensive Income (Loss), Net of Tax, Total | 85,000 | 86,000 | 246,000 | 257,000 |
AOCI ending Balance | ($3,600,000) | ' | ($3,600,000) | ' |
COMMON_SHARES_Details
COMMON SHARES (Details) (USD $) | 0 Months Ended | ||
Apr. 09, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | |
Class Of Stock [Line Items] | ' | ' | ' |
Common Stock Par Or Stated Value Per Share | ' | $5 | $5 |
Common Stock Shares Authorized | ' | 380,000,000 | 380,000,000 |
Common Stock Shares Issued | ' | 333,019,517 | 332,509,383 |
Treasury Stock Shares | ' | 18,137,017 | 18,455,749 |
Common Stock Issuance Merger With Nstar [Abstract] | ' | ' | ' |
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 136,000,000 | ' | ' |
The Connecticut Light And Power Company [Member] | ' | ' | ' |
Class Of Stock [Line Items] | ' | ' | ' |
Common Stock Par Or Stated Value Per Share | ' | $10 | $10 |
Common Stock Shares Authorized | ' | 24,500,000 | 24,500,000 |
Common Stock Shares Issued | ' | 6,035,205 | 6,035,205 |
NSTAR Electric Company [Member] | ' | ' | ' |
Class Of Stock [Line Items] | ' | ' | ' |
Common Stock Par Or Stated Value Per Share | ' | $1 | $1 |
Common Stock Shares Authorized | ' | 100,000,000 | 100,000,000 |
Common Stock Shares Issued | ' | 100 | 100 |
Public Service Company Of New Hampshire [Member] | ' | ' | ' |
Class Of Stock [Line Items] | ' | ' | ' |
Common Stock Par Or Stated Value Per Share | ' | $1 | $1 |
Common Stock Shares Authorized | ' | 100,000,000 | 100,000,000 |
Common Stock Shares Issued | ' | 301 | 301 |
Western Massachusetts Electric Company [Member] | ' | ' | ' |
Class Of Stock [Line Items] | ' | ' | ' |
Common Stock Par Or Stated Value Per Share | ' | $25 | $25 |
Common Stock Shares Authorized | ' | 1,072,471 | 1,072,471 |
Common Stock Shares Issued | ' | 434,653 | 434,653 |
COMMON_SHAREHOLDER_EQUIT_AND_N
COMMON SHAREHOLDER EQUIT AND NCI (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Shareholders' Equity, Beginning Balance | ' | ' | $9,237,050,000 | ' |
Net Income | 211,380,000 | 209,508,000 | 614,413,000 | 356,482,000 |
Net Income Attributable to Noncontrolling Interests | 1,879,000 | 1,880,000 | 5,803,000 | 5,253,000 |
Other Comprehensive Income (Loss), Net of Tax | 2,082,000 | 2,178,000 | 5,467,000 | 6,477,000 |
Shareholders' Equity, Ending Balance | 9,517,453,000 | ' | 9,517,453,000 | ' |
Common Shareholders Equity [Member] | ' | ' | ' | ' |
Shareholders' Equity, Beginning Balance | 9,406,600,000 | 9,067,600,000 | 9,237,100,000 | 4,012,700,000 |
Net Income | 211,400,000 | 209,500,000 | 614,400,000 | 356,500,000 |
Dividends on Common Shares | -114,900,000 | -107,600,000 | -346,900,000 | -267,800,000 |
Dividends, Preferred Stock | -1,900,000 | -1,900,000 | -5,800,000 | -5,100,000 |
Issuance of Common Shares | 1,400,000 | 800,000 | 10,200,000 | 12,200,000 |
Other Transcations, Net | 12,800,000 | 6,300,000 | 3,000,000 | 20,300,000 |
Net Income Attributable to Noncontrolling Interests | ' | ' | ' | -100,000 |
Other Comprehensive Income (Loss), Net of Tax | 2,100,000 | 2,200,000 | 5,500,000 | 6,500,000 |
Shareholders' Equity, Ending Balance | 9,517,500,000 | 9,176,900,000 | 9,517,500,000 | 9,176,900,000 |
Purchase Price of NSTAR | ' | ' | ' | 5,038,300,000 |
Other Impacts of Merger with NSTAR | ' | ' | ' | 3,400,000 |
Noncontrolling Interest Member | ' | ' | ' | ' |
Shareholders' Equity, Beginning Balance | ' | ' | ' | 3,000,000 |
Contributions To Northern Pass Trans | ' | ' | ' | 300,000 |
Net Income Attributable to Noncontrolling Interests | ' | ' | ' | 100,000 |
Other Impacts of Merger with NSTAR | ' | ' | ' | -3,400,000 |
Total Equity [Member] | ' | ' | ' | ' |
Shareholders' Equity, Beginning Balance | ' | 9,067,600,000 | ' | 4,015,700,000 |
Net Income | ' | 209,500,000 | ' | 356,500,000 |
Dividends on Common Shares | ' | -107,600,000 | ' | -267,800,000 |
Dividends, Preferred Stock | ' | -1,900,000 | ' | -5,100,000 |
Issuance of Common Shares | ' | 800,000 | ' | 12,200,000 |
Contributions To Northern Pass Trans | ' | ' | ' | 300,000 |
Other Transcations, Net | ' | 6,300,000 | ' | 20,300,000 |
Other Comprehensive Income (Loss), Net of Tax | ' | 2,200,000 | ' | 6,500,000 |
Shareholders' Equity, Ending Balance | ' | 9,176,900,000 | ' | 9,176,900,000 |
Purchase Price of NSTAR | ' | ' | ' | 5,038,300,000 |
Preferred Stock Member | ' | ' | ' | ' |
Shareholders' Equity, Beginning Balance | 155,600,000 | 155,600,000 | 155,600,000 | 116,200,000 |
Dividends, Preferred Stock | -1,900,000 | -1,900,000 | -5,800,000 | -5,100,000 |
Net Income Attributable to Noncontrolling Interests | 1,900,000 | 1,900,000 | 5,800,000 | 5,100,000 |
Shareholders' Equity, Ending Balance | 155,600,000 | 155,600,000 | 155,600,000 | 155,600,000 |
Other Impacts of Merger with NSTAR | ' | ' | ' | $39,400,000 |
EARNINGS_PER_SHARE_Details
EARNINGS PER SHARE (Details) (USD $) | 0 Months Ended | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Apr. 09, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Notes To Consolidated Financial Statements [Abstract] | ' | ' | ' | ' | ' |
Net Income Attributable to Controlling Interests | ' | $209,501 | $207,628 | $608,610 | $351,229 |
Basic | ' | 315,291,346 | 314,806,441 | 315,191,752 | 264,636,636 |
Weighted Average Number Diluted Shares Outstanding Adjustment | ' | 926,893 | 999,355 | 869,379 | 716,741 |
Diluted | ' | 316,218,239 | 315,805,796 | 316,061,131 | 265,353,377 |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount | ' | 0 | 0 | 2,100 | 5,688 |
Basic Earnings Per Common Share | ' | $0.66 | $0.66 | $1.93 | $1.33 |
Diluted Earnings Per Common Share | ' | $0.66 | $0.66 | $1.93 | $1.32 |
Common Stock Issuance Merger With Nstar [Abstract] | ' | ' | ' | ' | ' |
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 136,000,000 | ' | ' | ' | ' |
SEGMENT_INFORMATION_Details
SEGMENT INFORMATION (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Operating Revenues | $1,892,590,000 | $1,861,529,000 | $5,523,475,000 | $4,589,835,000 | ' |
Operating Income | 399,262,000 | 412,905,000 | 1,168,783,000 | 786,813,000 | ' |
Total Interest Expense | -87,476,000 | -90,361,000 | -250,583,000 | -245,856,000 | ' |
Income Tax Expense | -109,351,000 | -117,360,000 | -325,442,000 | -199,379,000 | ' |
Net Income | 211,380,000 | 209,508,000 | 614,413,000 | 356,482,000 | ' |
Net Income Attributable to Noncontrolling Interests | -1,879,000 | -1,880,000 | -5,803,000 | -5,253,000 | ' |
Net Income Attributable to Controlling Interests | 209,501,000 | 207,628,000 | 608,610,000 | 351,229,000 | ' |
Total Assets | 28,444,318,000 | ' | 28,444,318,000 | ' | 28,302,824,000 |
Investments in Property, Plant and Equipment | ' | ' | 1,073,759,000 | 1,081,750,000 | ' |
Electric Distribution Member | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Operating Revenues | 1,508,600,000 | 1,483,700,000 | 4,104,400,000 | 3,499,700,000 | ' |
Depreciation And Amortization | -159,600,000 | -172,600,000 | -488,700,000 | -398,100,000 | ' |
Operating Expenses, Other | -1,064,100,000 | -1,027,400,000 | -2,952,400,000 | -2,654,400,000 | ' |
Operating Income | 284,900,000 | 283,700,000 | 663,300,000 | 447,200,000 | ' |
Net Income Attributable to Controlling Interests | 156,900,000 | 150,500,000 | 347,500,000 | 212,100,000 | ' |
Total Assets | 17,912,900,000 | ' | 17,912,900,000 | ' | 18,047,300,000 |
Investments in Property, Plant and Equipment | ' | ' | 501,900,000 | 461,300,000 | ' |
Natural Gas Distribution [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Operating Revenues | 97,100,000 | 91,300,000 | 613,000,000 | 361,500,000 | ' |
Depreciation And Amortization | -16,400,000 | -12,600,000 | -50,500,000 | -32,700,000 | ' |
Operating Expenses, Other | -89,400,000 | -77,200,000 | -483,600,000 | -292,900,000 | ' |
Operating Income | -8,700,000 | 1,500,000 | 78,900,000 | 35,900,000 | ' |
Net Income Attributable to Controlling Interests | -10,400,000 | -4,400,000 | 34,100,000 | 8,300,000 | ' |
Total Assets | 2,656,800,000 | ' | 2,656,800,000 | ' | 2,717,400,000 |
Investments in Property, Plant and Equipment | ' | ' | 91,200,000 | 105,900,000 | ' |
Transmission [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Operating Revenues | 234,100,000 | 235,600,000 | 721,500,000 | 627,200,000 | ' |
Depreciation And Amortization | -34,500,000 | -29,700,000 | -100,900,000 | -79,500,000 | ' |
Operating Expenses, Other | -73,400,000 | -66,300,000 | -199,100,000 | -179,500,000 | ' |
Operating Income | 126,200,000 | 139,600,000 | 421,500,000 | 368,200,000 | ' |
Net Income Attributable to Controlling Interests | 58,600,000 | 71,100,000 | 215,400,000 | 181,100,000 | ' |
Total Assets | 6,566,100,000 | ' | 6,566,100,000 | ' | 6,187,700,000 |
Investments in Property, Plant and Equipment | ' | ' | 458,200,000 | 476,000,000 | ' |
Other Segment [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Operating Revenues | 212,500,000 | 219,500,000 | 650,400,000 | 582,900,000 | ' |
Depreciation And Amortization | -11,200,000 | -17,500,000 | -52,000,000 | -39,100,000 | ' |
Operating Expenses, Other | -206,800,000 | -216,800,000 | -599,000,000 | -614,500,000 | ' |
Operating Income | -5,500,000 | -14,800,000 | -600,000 | -70,700,000 | ' |
Net Income Attributable to Controlling Interests | 313,100,000 | 313,900,000 | 868,700,000 | 511,600,000 | ' |
Total Assets | 19,446,900,000 | ' | 19,446,900,000 | ' | 18,832,600,000 |
Investments in Property, Plant and Equipment | ' | ' | 22,500,000 | 38,600,000 | ' |
Eliminations Segment [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Operating Revenues | -159,700,000 | -168,600,000 | -565,800,000 | -481,500,000 | ' |
Depreciation And Amortization | 2,600,000 | 1,100,000 | 7,200,000 | 2,600,000 | ' |
Operating Expenses, Other | 159,500,000 | 170,400,000 | 564,300,000 | 485,100,000 | ' |
Operating Income | 2,400,000 | 2,900,000 | 5,700,000 | 6,200,000 | ' |
Net Income Attributable to Controlling Interests | -308,700,000 | -323,500,000 | -857,100,000 | -561,900,000 | ' |
Total Assets | -18,138,400,000 | ' | -18,138,400,000 | ' | -17,482,200,000 |
Investments in Property, Plant and Equipment | ' | ' | 0 | 0 | ' |
Total [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Operating Revenues | 1,892,600,000 | 1,861,500,000 | 5,523,500,000 | 4,589,800,000 | ' |
Depreciation And Amortization | -219,100,000 | -231,300,000 | -684,900,000 | -546,800,000 | ' |
Operating Expenses, Other | -1,274,200,000 | -1,217,300,000 | -3,669,800,000 | -3,256,200,000 | ' |
Operating Income | 399,300,000 | 412,900,000 | 1,168,800,000 | 786,800,000 | ' |
Net Income Attributable to Controlling Interests | 209,500,000 | 207,600,000 | 608,600,000 | 351,200,000 | ' |
Total Assets | 28,444,300,000 | ' | 28,444,300,000 | ' | 28,302,800,000 |
Investments in Property, Plant and Equipment | ' | ' | $1,073,800,000 | $1,081,800,000 | ' |