DOCUMENT_AND_ENTITY_INFORMATIO
DOCUMENT AND ENTITY INFORMATION (USD $) | 9 Months Ended | |
Sep. 30, 2014 | Oct. 31, 2014 | |
Document And Entity [Line Items] | ' | ' |
Entity Registrant Name | 'NORTHEAST UTILITIES | ' |
Document Period End Date | 30-Sep-14 | ' |
Document Type | '10-Q | ' |
Entity Central Index Key | '0000072741 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Common Stock, Shares Outstanding | ' | 316,799,371 |
Entity Public Float | $14,947,688,864 | ' |
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 | '2014 | ' |
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, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current Assets: | ' | ' |
Cash | $41,706 | $43,364 |
Receivables, Net | 848,510 | 765,391 |
Unbilled Revenues | 181,284 | 224,982 |
Fuel, Materials and Supplies | 333,869 | 303,233 |
Regulatory Assets Current | 445,962 | 535,791 |
Marketable Securities - Current | 114,722 | 92,427 |
Prepayments and Other Current Assets | 135,497 | 121,861 |
Total Current Assets | 2,101,550 | 2,087,049 |
Property, Plant and Equipment, Net | 18,254,610 | 17,576,186 |
Deferred Debits and Other Assets: | ' | ' |
Regulatory Assets Long Term | 3,241,122 | 3,758,694 |
Goodwill | 3,519,401 | 3,519,401 |
Marketable Securities | 518,032 | 488,515 |
Other Long-Term Assets | 347,596 | 365,692 |
Total Deferred Debits and Other Assets | 7,626,151 | 8,132,302 |
Total Assets | 27,982,311 | 27,795,537 |
Current Liabilities: | ' | ' |
Notes Payable | 1,046,961 | 1,093,000 |
Long-Term Debt - Current Portion | 245,583 | 533,346 |
Accounts Payable - Current | 608,639 | 742,251 |
Regulatory Liability Current | 398,985 | 204,278 |
Other Liabilities - Current | 629,508 | 702,776 |
Total Current Liabilities | 2,929,676 | 3,275,651 |
Deferred Credits and Other Liabilities: | ' | ' |
Accumulated Deferred Income Taxes | 4,257,996 | 4,029,026 |
Regulatory Liabilities Long-Term | 509,889 | 502,984 |
Long-Term Derivative Liabilities | 420,931 | 624,050 |
Accrued Pension, PBOP and SERP | 787,550 | 896,844 |
Other Long-Term Liabilities | 863,164 | 923,053 |
Total Deferred Credits and Other Liabilities | 6,839,530 | 6,975,957 |
Capitalization: | ' | ' |
Long-Term Debt | 8,166,985 | 7,776,833 |
Noncontrolling Interest in Consolidated Subsidiary: | ' | ' |
Temporary Equity, Carrying Amount, Attributable to Noncontrolling Interest | 155,568 | 155,568 |
Common Shareholders' Equity: | ' | ' |
Common Stock | 1,666,767 | 1,665,351 |
Capital Surplus, Paid In | 6,219,516 | 6,192,765 |
Retained Earnings | 2,351,421 | 2,125,980 |
Accumulated Other Comprehensive Loss | -40,172 | -46,031 |
Treasury Stock | -306,980 | -326,537 |
Common Shareholders' Equity | 9,890,552 | 9,611,528 |
Total Capitalization | 18,213,105 | 17,543,929 |
Total Liabilities and Capitalization | 27,982,311 | 27,795,537 |
The Connecticut Light And Power Company [Member] | ' | ' |
Current Assets: | ' | ' |
Cash | 16,294 | 7,237 |
Receivables, Net | 369,492 | 319,670 |
Accounts Receivable from Affiliated Companies | 35,276 | 13,777 |
Unbilled Revenues | 87,806 | 92,401 |
Regulatory Assets Current | 116,531 | 150,943 |
Materials and Supplies | 47,086 | 54,606 |
Accumulated Deferred Income Tax Asset | 52,839 | ' |
Prepaid Taxes | 47,429 | 13,962 |
Prepayments and Other Current Assets | 17,608 | 39,120 |
Total Current Assets | 790,361 | 691,716 |
Property, Plant and Equipment, Net | 6,700,798 | 6,451,259 |
Deferred Debits and Other Assets: | ' | ' |
Regulatory Assets Long Term | 1,369,025 | 1,663,147 |
Other Long-Term Assets | 178,313 | 174,380 |
Total Deferred Debits and Other Assets | 1,547,338 | 1,837,527 |
Total Assets | 9,038,497 | 8,980,502 |
Current Liabilities: | ' | ' |
Notes Payable To Affiliated Companies | 105,400 | 287,300 |
Long-Term Debt - Current Portion | 162,000 | 150,000 |
Accounts Payable - Current | 228,379 | 201,047 |
Accounts Payable to Affiliated Companies | 46,977 | 56,531 |
Obligations to Third Party Suppliers | 67,630 | 73,914 |
Accrued Taxes | 54,652 | 37,186 |
Regulatory Liability Current | 195,663 | 93,961 |
Derivative Liabilities - Current | 86,759 | 92,233 |
Other Liabilities - Current | 107,284 | 97,530 |
Total Current Liabilities | 1,054,744 | 1,089,702 |
Deferred Credits and Other Liabilities: | ' | ' |
Accumulated Deferred Income Taxes | 1,581,344 | 1,510,586 |
Regulatory Liabilities Long-Term | 87,696 | 93,757 |
Long-Term Derivative Liabilities | 418,137 | 617,072 |
Accrued Pension, PBOP and SERP | 63,756 | 95,895 |
Other Long-Term Liabilities | 143,838 | 163,588 |
Total Deferred Credits and Other Liabilities | 2,294,771 | 2,480,898 |
Capitalization: | ' | ' |
Long-Term Debt | 2,679,775 | 2,591,208 |
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 | 1,804,228 | 1,682,047 |
Retained Earnings | 1,029,473 | 961,482 |
Accumulated Other Comprehensive Loss | -1,046 | -1,387 |
Common Shareholders' Equity | 2,893,007 | 2,702,494 |
Total Capitalization | 5,688,982 | 5,409,902 |
Total Liabilities and Capitalization | 9,038,497 | 8,980,502 |
NSTAR Electric Company [Member] | ' | ' |
Current Assets: | ' | ' |
Cash | 11,040 | 8,021 |
Receivables, Net | 275,902 | 209,711 |
Accounts Receivable from Affiliated Companies | 47,215 | 27,264 |
Unbilled Revenues | 39,372 | 41,368 |
Fuel, Materials and Supplies | 65,073 | 44,236 |
Regulatory Assets Current | 128,205 | 204,144 |
Prepayments and Other Current Assets | 11,267 | 36,710 |
Total Current Assets | 578,074 | 571,454 |
Property, Plant and Equipment, Net | 5,211,681 | 5,043,887 |
Deferred Debits and Other Assets: | ' | ' |
Regulatory Assets Long Term | 998,030 | 1,235,156 |
Other Long-Term Assets | 62,644 | 60,624 |
Total Deferred Debits and Other Assets | 1,060,674 | 1,295,780 |
Total Assets | 6,850,429 | 6,911,121 |
Current Liabilities: | ' | ' |
Notes Payable | 159,500 | 103,500 |
Long-Term Debt - Current Portion | 4,700 | 301,650 |
Accounts Payable - Current | 128,056 | 202,100 |
Accounts Payable to Affiliated Companies | 62,625 | 75,707 |
Obligations to Third Party Suppliers | 37,298 | ' |
Power Contract Obligation | 35,783 | 30,842 |
Renewable Portfolio Standards Compliance Obligation | 34,905 | 39,686 |
Accrued Taxes | 42,338 | 7,946 |
Deferred Tax Liabilities Current | 9,622 | 50,128 |
Regulatory Liability Current | 97,215 | 53,958 |
Other Liabilities - Current | 62,436 | 39,936 |
Total Current Liabilities | 674,478 | 910,912 |
Deferred Credits and Other Liabilities: | ' | ' |
Accumulated Deferred Income Taxes | 1,425,306 | 1,466,835 |
Regulatory Liabilities Long-Term | 266,524 | 253,108 |
Accrued Pension, PBOP and SERP | 142,249 | 118,010 |
Other Long-Term Liabilities | 112,853 | 142,214 |
Due To Related Parties Noncurrent | 0 | 64,172 |
Total Deferred Credits and Other Liabilities | 1,946,932 | 2,044,339 |
Capitalization: | ' | ' |
Long-Term Debt | 1,792,707 | 1,499,417 |
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 | 993,163 | 992,625 |
Retained Earnings | 1,400,149 | 1,420,828 |
Common Shareholders' Equity | 2,393,312 | 2,413,453 |
Total Capitalization | 4,229,019 | 3,955,870 |
Total Liabilities and Capitalization | 6,850,429 | 6,911,121 |
Public Service Company Of New Hampshire [Member] | ' | ' |
Current Assets: | ' | ' |
Cash | 2,750 | 130 |
Receivables, Net | 77,602 | 76,331 |
Accounts Receivable from Affiliated Companies | 6,271 | 90 |
Unbilled Revenues | 33,088 | 38,344 |
Fuel, Materials and Supplies | 141,381 | 128,736 |
Regulatory Assets Current | 102,473 | 92,194 |
Prepayments and Other Current Assets | 22,270 | 24,100 |
Total Current Assets | 385,835 | 359,925 |
Property, Plant and Equipment, Net | 2,560,635 | 2,467,556 |
Deferred Debits and Other Assets: | ' | ' |
Regulatory Assets Long Term | 178,204 | 219,346 |
Other Long-Term Assets | 54,748 | 39,891 |
Total Deferred Debits and Other Assets | 232,952 | 259,237 |
Total Assets | 3,179,422 | 3,086,718 |
Current Liabilities: | ' | ' |
Notes Payable To Affiliated Companies | 153,300 | 86,500 |
Long-Term Debt - Current Portion | 0 | 50,000 |
Accounts Payable - Current | 58,801 | 82,920 |
Accounts Payable to Affiliated Companies | 22,932 | 22,040 |
Deferred Tax Liabilities Current | 29,936 | 28,596 |
Regulatory Liability Current | 29,165 | 20,643 |
Other Liabilities - Current | 38,725 | 51,729 |
Total Current Liabilities | 332,859 | 342,428 |
Deferred Credits and Other Liabilities: | ' | ' |
Accumulated Deferred Income Taxes | 566,298 | 500,166 |
Regulatory Liabilities Long-Term | 50,614 | 51,723 |
Other Postretirement Benefit Plan Liability | 14,320 | 15,272 |
Other Long-Term Liabilities | 46,874 | 46,247 |
Total Deferred Credits and Other Liabilities | 678,106 | 613,408 |
Capitalization: | ' | ' |
Long-Term Debt | 999,230 | 999,006 |
Common Shareholders' Equity: | ' | ' |
Common Stock | 0 | 0 |
Capital Surplus, Paid In | 702,923 | 701,911 |
Retained Earnings | 473,969 | 438,515 |
Accumulated Other Comprehensive Loss | -7,665 | -8,550 |
Common Shareholders' Equity | 1,169,227 | 1,131,876 |
Total Capitalization | 2,168,457 | 2,130,882 |
Total Liabilities and Capitalization | 3,179,422 | 3,086,718 |
Western Massachusetts Electric Company [Member] | ' | ' |
Current Assets: | ' | ' |
Cash | 1,737 | 0 |
Receivables, Net | 50,835 | 49,018 |
Accounts Receivable from Affiliated Companies | 14,522 | 47,607 |
Unbilled Revenues | 12,664 | 16,562 |
Taxes Receivable | 11,504 | 432 |
Regulatory Assets Current | 38,907 | 43,024 |
Marketable Securities - Current | 22,107 | 26,628 |
Prepayments and Other Current Assets | 6,688 | 10,479 |
Total Current Assets | 158,964 | 193,750 |
Property, Plant and Equipment, Net | 1,432,368 | 1,381,060 |
Deferred Debits and Other Assets: | ' | ' |
Regulatory Assets Long Term | 109,690 | 146,088 |
Marketable Securities | 35,963 | 31,243 |
Other Long-Term Assets | 50,902 | 40,679 |
Total Deferred Debits and Other Assets | 196,555 | 218,010 |
Total Assets | 1,787,887 | 1,792,820 |
Current Liabilities: | ' | ' |
Notes Payable To Affiliated Companies | 13,200 | 0 |
Long-Term Debt - Current Portion | 50,000 | ' |
Accounts Payable - Current | 36,558 | 62,961 |
Accounts Payable to Affiliated Companies | 13,312 | 9,230 |
Accrued Interest | 2,839 | 7,525 |
Deferred Tax Liabilities Current | 1,920 | 13,098 |
Regulatory Liability Current | 43,462 | 19,858 |
Counterparty Deposit | 626 | 7,688 |
Other Liabilities - Current | 11,758 | 20,629 |
Total Current Liabilities | 173,675 | 140,989 |
Deferred Credits and Other Liabilities: | ' | ' |
Accumulated Deferred Income Taxes | 413,701 | 396,933 |
Regulatory Liabilities Long-Term | 10,289 | 13,873 |
Other Postretirement Benefit Plan Liability | 2,623 | 3,911 |
Other Long-Term Liabilities | 38,372 | 28,619 |
Total Deferred Credits and Other Liabilities | 464,985 | 443,336 |
Capitalization: | ' | ' |
Long-Term Debt | 578,686 | 629,389 |
Common Shareholders' Equity: | ' | ' |
Common Stock | 10,866 | 10,866 |
Capital Surplus, Paid In | 391,136 | 390,743 |
Retained Earnings | 171,800 | 181,014 |
Accumulated Other Comprehensive Loss | -3,261 | -3,517 |
Common Shareholders' Equity | 570,541 | 579,106 |
Total Capitalization | 1,149,227 | 1,208,495 |
Total Liabilities and Capitalization | $1,787,887 | $1,792,820 |
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, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Operating Revenues | $1,892,532 | $1,892,590 | $5,860,736 | $5,523,475 |
Operating Expenses: | ' | ' | ' | ' |
Purchased Power and Transmission | 716,631 | 645,881 | 2,318,993 | 1,881,992 |
Operations and Maintenance | 344,092 | 386,700 | 1,069,015 | 1,089,960 |
Depreciation | 153,210 | 149,105 | 456,224 | 463,635 |
Amortization of Regulatory Assets/(Liabilities), Net | -22,531 | 70,046 | 31,826 | 178,668 |
Amortization of Rate Reduction Bonds | 0 | 0 | 0 | 42,581 |
Energy Efficiency Programs | 118,693 | 106,097 | 360,228 | 306,010 |
Taxes Other Than Income Taxes | 141,527 | 135,499 | 421,862 | 391,846 |
Total Operating Expenses | 1,451,622 | 1,493,328 | 4,658,148 | 4,354,692 |
Operating Income | 440,910 | 399,262 | 1,202,588 | 1,168,783 |
Interest Expense: | ' | ' | ' | ' |
Interest on Long-Term Debt | 85,208 | 84,911 | 260,076 | 256,205 |
Other Interest | 4,530 | 2,565 | 12,132 | -5,622 |
Total Interest Expense | 89,738 | 87,476 | 272,208 | 250,583 |
Other Income/(Loss), Net | 11,860 | 8,945 | 19,054 | 21,655 |
Income Before Income Tax Expense | 363,032 | 320,731 | 949,434 | 939,855 |
Income Tax Expense | 126,539 | 109,351 | 345,858 | 325,442 |
Net Income | 236,493 | 211,380 | 603,576 | 614,413 |
Net Income Attributable to Noncontrolling Interests | 1,879 | 1,879 | 5,639 | 5,803 |
Net Income Attributable to Controlling Interests | 234,614 | 209,501 | 597,937 | 608,610 |
Earnings Per Share Basic And Diluted | $0.74 | $0.66 | $1.89 | $1.93 |
Common Stock Dividends Per Share Declared | $0.39 | $0.37 | $1.18 | $1.10 |
Weighted Average Common Shares Outstanding: | ' | ' | ' | ' |
Basic | 316,340,691 | 315,291,346 | 315,941,904 | 315,191,752 |
Diluted | 317,554,925 | 316,218,239 | 317,186,490 | 316,061,131 |
The Connecticut Light And Power Company [Member] | ' | ' | ' | ' |
Operating Revenues | 695,642 | 648,420 | 2,017,580 | 1,841,846 |
Operating Expenses: | ' | ' | ' | ' |
Purchased Power and Transmission | 255,787 | 253,152 | 736,952 | 667,266 |
Operations and Maintenance | 127,285 | 127,104 | 368,562 | 359,759 |
Depreciation | 46,886 | 44,786 | 139,598 | 132,356 |
Amortization of Regulatory Assets/(Liabilities), Net | 13,098 | -27 | 62,644 | 11,223 |
Energy Efficiency Programs | 41,399 | 24,544 | 119,389 | 68,211 |
Taxes Other Than Income Taxes | 64,994 | 64,979 | 194,105 | 182,676 |
Total Operating Expenses | 549,449 | 514,538 | 1,621,250 | 1,421,491 |
Operating Income | 146,193 | 133,882 | 396,330 | 420,355 |
Interest Expense: | ' | ' | ' | ' |
Interest on Long-Term Debt | 34,743 | 32,845 | 102,290 | 98,163 |
Other Interest | 3,992 | 2,439 | 8,158 | 801 |
Total Interest Expense | 38,735 | 35,284 | 110,448 | 98,964 |
Other Income/(Loss), Net | 6,456 | 3,861 | 10,658 | 10,946 |
Income Before Income Tax Expense | 113,914 | 102,459 | 296,540 | 332,337 |
Income Tax Expense | 30,038 | 36,136 | 95,980 | 113,149 |
Net Income | 83,876 | 66,323 | 200,560 | 219,188 |
NSTAR Electric Company [Member] | ' | ' | ' | ' |
Operating Revenues | 727,909 | 753,879 | 1,955,609 | 1,916,557 |
Operating Expenses: | ' | ' | ' | ' |
Purchased Power and Transmission | 317,784 | 255,244 | 879,773 | 659,140 |
Operations and Maintenance | 79,705 | 97,069 | 244,610 | 277,261 |
Depreciation | 47,455 | 45,441 | 140,996 | 136,323 |
Amortization of Regulatory Assets/(Liabilities), Net | -15,063 | 72,740 | -916 | 173,289 |
Amortization of Rate Reduction Bonds | 0 | 0 | 0 | 15,054 |
Energy Efficiency Programs | 56,915 | 58,798 | 145,499 | 161,180 |
Taxes Other Than Income Taxes | 34,513 | 32,610 | 99,121 | 95,275 |
Total Operating Expenses | 521,309 | 561,902 | 1,509,083 | 1,517,522 |
Operating Income | 206,600 | 191,977 | 446,526 | 399,035 |
Interest Expense: | ' | ' | ' | ' |
Interest on Long-Term Debt | 17,996 | 19,860 | 58,485 | 59,261 |
Other Interest | -658 | -1,324 | 606 | -7,612 |
Total Interest Expense | 17,338 | 18,536 | 59,091 | 51,649 |
Other Income/(Loss), Net | 3,287 | 2,126 | 3,011 | 3,275 |
Income Before Income Tax Expense | 192,549 | 175,567 | 390,446 | 350,661 |
Income Tax Expense | 76,975 | 68,558 | 156,655 | 137,499 |
Net Income | 115,574 | 107,009 | 233,791 | 213,162 |
Public Service Company Of New Hampshire [Member] | ' | ' | ' | ' |
Operating Revenues | 223,664 | 218,608 | 735,123 | 708,550 |
Operating Expenses: | ' | ' | ' | ' |
Purchased Power and Transmission | 64,397 | 46,668 | 247,992 | 197,765 |
Operations and Maintenance | 65,563 | 69,477 | 198,025 | 191,606 |
Depreciation | 24,568 | 22,919 | 73,247 | 68,433 |
Amortization of Regulatory Assets/(Liabilities), Net | -9,734 | 225 | -17,565 | -1,745 |
Amortization of Rate Reduction Bonds | 0 | 0 | 0 | 19,748 |
Energy Efficiency Programs | 3,766 | 3,990 | 10,897 | 11,036 |
Taxes Other Than Income Taxes | 18,702 | 18,706 | 53,051 | 52,640 |
Total Operating Expenses | 167,262 | 161,985 | 565,647 | 539,483 |
Operating Income | 56,402 | 56,623 | 169,476 | 169,067 |
Interest Expense: | ' | ' | ' | ' |
Interest on Long-Term Debt | 10,896 | 10,345 | 33,812 | 32,951 |
Other Interest | 128 | 521 | 183 | 1,230 |
Total Interest Expense | 11,024 | 10,866 | 33,995 | 34,181 |
Other Income/(Loss), Net | 461 | 792 | 1,673 | 2,454 |
Income Before Income Tax Expense | 45,839 | 46,549 | 137,154 | 137,340 |
Income Tax Expense | 17,603 | 18,196 | 52,199 | 52,797 |
Net Income | 28,236 | 28,353 | 84,955 | 84,543 |
Western Massachusetts Electric Company [Member] | ' | ' | ' | ' |
Operating Revenues | 118,145 | 121,795 | 363,843 | 361,763 |
Operating Expenses: | ' | ' | ' | ' |
Purchased Power and Transmission | 43,926 | 38,797 | 130,977 | 111,095 |
Operations and Maintenance | 20,820 | 26,148 | 67,085 | 70,213 |
Depreciation | 10,506 | 9,426 | 31,144 | 27,707 |
Amortization of Regulatory Assets/(Liabilities), Net | -8,519 | -1,412 | -7,778 | -598 |
Amortization of Rate Reduction Bonds | 0 | 0 | 0 | 7,780 |
Energy Efficiency Programs | 10,983 | 12,222 | 33,096 | 28,462 |
Taxes Other Than Income Taxes | 9,200 | 7,696 | 25,679 | 20,188 |
Total Operating Expenses | 86,916 | 92,877 | 280,203 | 264,847 |
Operating Income | 31,229 | 28,918 | 83,640 | 96,916 |
Interest Expense: | ' | ' | ' | ' |
Interest on Long-Term Debt | 6,029 | 5,814 | 18,195 | 17,846 |
Other Interest | 547 | 417 | 734 | 954 |
Total Interest Expense | 6,576 | 6,231 | 18,929 | 18,800 |
Other Income/(Loss), Net | 502 | 926 | 1,670 | 2,349 |
Income Before Income Tax Expense | 25,155 | 23,613 | 66,381 | 80,465 |
Income Tax Expense | 10,490 | 8,588 | 26,596 | 30,424 |
Net Income | $14,665 | $15,025 | $39,785 | $50,041 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Net Income | $236,493 | $211,380 | $603,576 | $614,413 |
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease Abstract | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 509 | 509 | 1,528 | 1,539 |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | -216 | -38 | 242 | -810 |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax | 1,042 | 1,611 | 4,089 | 4,738 |
Other Comprehensive Income (Loss), Net of Tax, Total | 1,335 | 2,082 | 5,859 | 5,467 |
Comprehensive Income Attributable to Noncontrolling Interests | -1,879 | -1,879 | -5,639 | -5,803 |
Comprehensive Income | 235,949 | 211,583 | 603,796 | 614,077 |
The Connecticut Light And Power Company [Member] | ' | ' | ' | ' |
Net Income | 83,876 | 66,323 | 200,560 | 219,188 |
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 | -7 | -1 | 8 | -27 |
Other Comprehensive Income (Loss), Net of Tax, Total | 104 | 110 | 341 | 306 |
Comprehensive Income | 83,980 | 66,433 | 200,901 | 219,494 |
NSTAR Electric Company [Member] | ' | ' | ' | ' |
Net Income | 115,574 | 107,009 | 233,791 | 213,162 |
Public Service Company Of New Hampshire [Member] | ' | ' | ' | ' |
Net Income | 28,236 | 28,353 | 84,955 | 84,543 |
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease Abstract | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 290 | 290 | 871 | 872 |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | -13 | -2 | 14 | -47 |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax | 0 | 0 | 0 | -3 |
Other Comprehensive Income (Loss), Net of Tax, Total | 277 | 288 | 885 | 822 |
Comprehensive Income | 28,513 | 28,641 | 85,840 | 85,365 |
Western Massachusetts Electric Company [Member] | ' | ' | ' | ' |
Net Income | 14,665 | 15,025 | 39,785 | 50,041 |
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease Abstract | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 85 | 85 | 254 | 254 |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | -2 | 0 | 2 | -8 |
Other Comprehensive Income (Loss), Net of Tax, Total | 83 | 85 | 256 | 246 |
Comprehensive Income | $14,748 | $15,110 | $40,041 | $50,287 |
CONSOLIDATED_STATEMENT_OF_CASH
CONSOLIDATED STATEMENT OF CASH FLOWS (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Operating Activities: | ' | ' |
Net Income | $603,576 | $614,413 |
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities: | ' | ' |
Depreciation | 456,224 | 463,635 |
Deferred Income Tax Expense (Benefit) | 64,755 | 334,225 |
Pension, SERP and PBOP Expense | 74,296 | 146,803 |
Pension and PBOP Contributions | -74,681 | -338,301 |
Regulatory Over/(Under) Recoveries, Net | 290,111 | 66,239 |
Amortization of Regulatory Assets/(Liabilities), Net | 31,826 | 178,668 |
Amortization of Rate Reduction Bonds | 0 | 42,581 |
Proceeds from DOE Damages Claim, Net | 132,138 | ' |
Other Noncash Income (Expense) | -17,096 | 3,158 |
Changes in Current Assets and Liabilities: | ' | ' |
Receivables and Unbilled Revenues, Net | -66,463 | -98,432 |
Increase Decrease in Fuel, Materials and Supplies | -27,147 | -13,134 |
Taxes Receivable/(Accrued) | 26,533 | -28,609 |
Accounts Payable | -69,448 | -112,512 |
Other Current Assets and Liabilities | -20,607 | -81,766 |
Net Cash Flows Provided by Operating Activities | 1,404,017 | 1,176,968 |
Investing Activities: | ' | ' |
Investments in Property, Plant and Equipment | -1,117,493 | -1,073,759 |
Proceeds from Sales of Marketable Securities | 388,352 | 487,729 |
Purchases of Marketable Securities | -389,406 | -541,070 |
Decrease In Restricted Cash | 0 | 69,259 |
Other Investing Activities | -4,669 | -1,137 |
Net Cash Flows Used in Investing Activities | -1,123,216 | -1,058,978 |
Financing Activities: | ' | ' |
Cash Dividends on Common Stock | -356,080 | -341,720 |
Cash Dividends on Preferred Stock | -5,639 | -5,802 |
Increase/(Decrease) in Short-Term Debt | 6,000 | -172,000 |
Issuance of Long-Term Debt | 650,000 | 1,350,000 |
Retirements of Long-Term Debt | -576,650 | -840,600 |
Retirements of Rate Reduction Bonds | 0 | -82,139 |
Other Financing Activities | -90 | -13,536 |
Net Cash Flows Provided by/(Used in) Financing Activities | -282,459 | -105,797 |
Net Increase/(Decrease) in Cash | -1,658 | 12,193 |
Cash - Beginning of Year | 43,364 | 45,748 |
Cash - End of Year | 41,706 | 57,941 |
The Connecticut Light And Power Company [Member] | ' | ' |
Operating Activities: | ' | ' |
Net Income | 200,560 | 219,188 |
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities: | ' | ' |
Depreciation | 139,598 | 132,356 |
Deferred Income Tax Expense (Benefit) | -14,400 | 89,084 |
Pension, SERP and PBOP Expense, Net of Contributions | 8,050 | 16,182 |
Regulatory Over/(Under) Recoveries, Net | 62,929 | 24,061 |
Amortization of Regulatory Assets/(Liabilities), Net | 62,644 | 11,223 |
Proceeds from DOE Damages Claim | 68,610 | 0 |
Other Noncash Income (Expense) | -11,290 | -8,759 |
Changes in Current Assets and Liabilities: | ' | ' |
Receivables and Unbilled Revenues, Net | -87,922 | -44,523 |
Taxes Receivable/(Accrued) | 39,805 | 841 |
Accounts Payable | 16,984 | -101,949 |
Other Current Assets and Liabilities | -2,575 | -29,106 |
Net Cash Flows Provided by Operating Activities | 482,993 | 308,598 |
Investing Activities: | ' | ' |
Investments in Property, Plant and Equipment | -371,660 | -294,638 |
Other Investing Activities | -4,539 | 2,013 |
Net Cash Flows Used in Investing Activities | -376,199 | -292,625 |
Financing Activities: | ' | ' |
Cash Dividends on Common Stock | -128,400 | -114,000 |
Cash Dividends on Preferred Stock | -4,169 | -4,169 |
Increase/(Decrease) in Short-Term Debt | 0 | -89,000 |
Issuance of Long-Term Debt | 250,000 | 400,000 |
Increase/(Decrease) in Notes Payable to Affiliate | -181,900 | -62,200 |
Retirements of Long-Term Debt | -150,000 | -125,000 |
Capital Contributions from NU Parent | 120,000 | ' |
Other Financing Activities | -3,268 | -6,352 |
Net Cash Flows Provided by/(Used in) Financing Activities | -97,737 | -721 |
Net Increase/(Decrease) in Cash | 9,057 | 15,252 |
Cash - Beginning of Year | 7,237 | 1 |
Cash - End of Year | 16,294 | 15,253 |
NSTAR Electric Company [Member] | ' | ' |
Operating Activities: | ' | ' |
Net Income | 233,791 | 213,162 |
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities: | ' | ' |
Bad Debt Expense | 15,250 | 19,012 |
Depreciation | 140,996 | 136,323 |
Deferred Income Tax Expense (Benefit) | -39,399 | 26,358 |
Pension, SERP and PBOP Expense, Net of Contributions | -11,046 | -55,195 |
Regulatory Over/(Under) Recoveries, Net | 155,357 | -11,299 |
Amortization of Regulatory Assets/(Liabilities), Net | -916 | 173,289 |
Amortization of Rate Reduction Bonds | 0 | 15,054 |
Proceeds from DOE Damages Claim | 30,193 | ' |
Other Noncash Income (Expense) | -56,851 | -48,291 |
Changes in Current Assets and Liabilities: | ' | ' |
Receivables and Unbilled Revenues, Net | -47,770 | -80,575 |
Increase Decrease in Fuel, Materials and Supplies | -20,837 | 7,961 |
Taxes Receivable/(Accrued) | 60,252 | -6,345 |
Accounts Payable | -40,594 | 6,856 |
Other Current Assets and Liabilities | 32,340 | -19,547 |
Accounts Payable Related Parties | 66,758 | -59,173 |
Net Cash Flows Provided by Operating Activities | 517,524 | 317,590 |
Investing Activities: | ' | ' |
Investments in Property, Plant and Equipment | -309,248 | -330,635 |
Decrease In Restricted Cash | 0 | 37,899 |
Other Investing Activities | 0 | 575 |
Net Cash Flows Used in Investing Activities | -309,248 | -292,161 |
Financing Activities: | ' | ' |
Cash Dividends on Common Stock | -253,000 | -56,000 |
Cash Dividends on Preferred Stock | -1,470 | -1,633 |
Increase/(Decrease) in Short-Term Debt | 56,000 | -120,000 |
Issuance of Long-Term Debt | 300,000 | 200,000 |
Retirements of Long-Term Debt | -301,650 | -1,650 |
Retirements of Rate Reduction Bonds | ' | -43,493 |
Other Financing Activities | -5,137 | -878 |
Net Cash Flows Provided by/(Used in) Financing Activities | -205,257 | -23,654 |
Net Increase/(Decrease) in Cash | 3,019 | 1,775 |
Cash - Beginning of Year | 8,021 | 13,695 |
Cash - End of Year | 11,040 | 15,470 |
Public Service Company Of New Hampshire [Member] | ' | ' |
Operating Activities: | ' | ' |
Net Income | 84,955 | 84,543 |
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities: | ' | ' |
Depreciation | 73,247 | 68,433 |
Deferred Income Tax Expense (Benefit) | 67,827 | 57,066 |
Pension, SERP and PBOP Expense | 4,541 | 20,427 |
Pension and PBOP Contributions | -1,637 | -112,964 |
Regulatory Over/(Under) Recoveries, Net | 16,813 | -1,346 |
Amortization of Regulatory Assets/(Liabilities), Net | -17,565 | -1,745 |
Amortization of Rate Reduction Bonds | 0 | 19,748 |
Proceeds from DOE Damages Claim | 14,453 | ' |
Other Noncash Income (Expense) | 7,930 | 7,165 |
Changes in Current Assets and Liabilities: | ' | ' |
Receivables and Unbilled Revenues, Net | -7,467 | 8,047 |
Increase Decrease in Fuel, Materials and Supplies | -17,350 | -30,456 |
Taxes Receivable/(Accrued) | -24,108 | 5,103 |
Accounts Payable | -9,297 | 29,148 |
Other Current Assets and Liabilities | 13,470 | 7,220 |
Net Cash Flows Provided by Operating Activities | 205,812 | 160,389 |
Investing Activities: | ' | ' |
Investments in Property, Plant and Equipment | -170,127 | -155,676 |
Decrease In Restricted Cash | -45 | 22,039 |
Other Investing Activities | -103 | -53 |
Net Cash Flows Used in Investing Activities | -170,275 | -133,690 |
Financing Activities: | ' | ' |
Cash Dividends on Common Stock | -49,500 | -51,000 |
Increase/(Decrease) in Notes Payable to Affiliate | 66,800 | 165,200 |
Retirements of Long-Term Debt | -50,000 | -108,950 |
Retirements of Rate Reduction Bonds | 0 | -29,294 |
Other Financing Activities | -217 | 456 |
Net Cash Flows Provided by/(Used in) Financing Activities | -32,917 | -23,588 |
Net Increase/(Decrease) in Cash | 2,620 | 3,111 |
Cash - Beginning of Year | 130 | 2,493 |
Cash - End of Year | 2,750 | 5,604 |
Western Massachusetts Electric Company [Member] | ' | ' |
Operating Activities: | ' | ' |
Net Income | 39,785 | 50,041 |
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities: | ' | ' |
Depreciation | 31,144 | 27,707 |
Deferred Income Tax Expense (Benefit) | 13,479 | 79,401 |
Regulatory Over/(Under) Recoveries, Net | 33,630 | 11,685 |
Amortization of Regulatory Assets/(Liabilities), Net | -7,778 | -598 |
Amortization of Rate Reduction Bonds | 0 | 7,780 |
Proceeds from DOE Damages Claim | 18,883 | ' |
Other Noncash Income (Expense) | 615 | -544 |
Changes in Current Assets and Liabilities: | ' | ' |
Receivables and Unbilled Revenues, Net | 36,075 | -32,231 |
Taxes Receivable/(Accrued) | -15,831 | 16,412 |
Accounts Payable | -12,847 | 20,260 |
Other Current Assets and Liabilities | -16,551 | -9,857 |
Net Cash Flows Provided by Operating Activities | 120,604 | 170,056 |
Investing Activities: | ' | ' |
Investments in Property, Plant and Equipment | -82,546 | -127,352 |
Proceeds from Sales of Marketable Securities | 58,788 | 53,552 |
Purchases of Marketable Securities | -59,280 | -54,042 |
Other Investing Activities | 0 | 7,401 |
Net Cash Flows Used in Investing Activities | -83,038 | -120,441 |
Financing Activities: | ' | ' |
Cash Dividends on Common Stock | -49,000 | -30,000 |
Increase/(Decrease) in Notes Payable to Affiliate | 13,200 | 47,900 |
Retirements of Long-Term Debt | ' | -55,000 |
Retirements of Rate Reduction Bonds | 0 | -9,352 |
Other Financing Activities | -29 | -7 |
Net Cash Flows Provided by/(Used in) Financing Activities | -35,829 | -46,459 |
Net Increase/(Decrease) in Cash | 1,737 | 3,156 |
Cash - Beginning of Year | 0 | 1 |
Cash - End of Year | $1,737 | $3,157 |
SUMMARY_OF_SIGNIFICANT_ACCOUNT
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
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 CONSOLIDATED 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 consolidated 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. 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. | ||||||||||||
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 2014 combined Quarterly Reports on Form 10-Q and the 2013 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, 2014 and December 31, 2013, the results of operations and comprehensive income for the three and nine months ended September 30, 2014 and 2013, and the cash flows for the nine months ended September 30, 2014 and 2013. The results of operations and comprehensive income for the three and nine months ended September 30, 2014 and 2013, and the cash flows for the nine months ended September 30, 2014 and 2013 are not necessarily indicative of the results expected for a full year. | ||||||||||||
NU consolidates CYAPC and YAEC because 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 of the NU financial statements. For CL&P, NSTAR Electric, PSNH and WMECO, the investments 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, CL&P, NSTAR Electric and PSNH, and in the statements of income for NU, NSTAR Electric, PSNH and WMECO. These reclassifications were made to conform to the current period presentation. | ||||||||||||
B. Accounting Standards | ||||||||||||
Recently Adopted Accounting Standards: On January 1, 2014, as required, NU prospectively adopted the Financial Accounting Standards Board's (FASB) final Accounting Standards Updates (ASU) that required presentation of certain unrecognized tax benefits as reductions to deferred tax assets. Implementation of this guidance had an immaterial impact on the balance sheets and no impact on the results of operations or cash flows of NU, CL&P, NSTAR Electric, PSNH and WMECO. | ||||||||||||
Accounting Standards Issued but not Yet Adopted: In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers, effective January 1, 2017, which amends existing revenue recognition guidance and is required to be applied retrospectively (either to each reporting period presented or cumulatively at the date of initial application). Management is reviewing the requirements of the new ASU, however the ASU's impact is not expected to have a material impact on the financial statements of NU, CL&P, NSTAR Electric, PSNH and WMECO. | ||||||||||||
C. Provision for Uncollectible Accounts | ||||||||||||
NU, including CL&P, NSTAR Electric, PSNH and WMECO, presents its receivables at estimated net realizable value by maintaining a provision for uncollectible accounts. This provision is determined based upon a variety of factors, including the application of an estimated uncollectible percentage to each receivable aging category. The estimate is based upon historical collection and write-off experience and management's assessment of collectibility from individual customers. Management continuously assesses the collectibility of receivables, and adjusts collectibility estimates based on actual experience. 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, 2014 | As of December 31, 2013 | ||||||||||
NU | $ | 181.4 | $ | 171.3 | ||||||||
CL&P | 85.8 | 82 | ||||||||||
NSTAR Electric | 42.3 | 41.7 | ||||||||||
PSNH | 7.9 | 7.4 | ||||||||||
WMECO | 11.1 | 10 | ||||||||||
D. Fair Value Measurements | ||||||||||||
Fair value measurement guidance is applied to derivative contracts that are not elected or designated as "normal purchases or normal sales" (normal) 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, and is also used to estimate the fair value of preferred stock and long-term debt. | ||||||||||||
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. Investment income/(loss) primarily relates to debt and equity securities held in trust. For further information, see Note 5, "Marketable Securities," to the financial statements. | ||||||||||||
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-14 | 30-Sep-13 | 30-Sep-14 | 30-Sep-13 | ||||||||
NU | $ | 35 | $ | 37.5 | $ | 114.6 | $ | 108.9 | ||||
CL&P | 32.5 | 35.5 | 99 | 97.3 | ||||||||
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, 2014 | As of September 30, 2013 | ||||||||||
NU | $ | 128.9 | $ | 122.9 | ||||||||
CL&P | 52.2 | 36.6 | ||||||||||
NSTAR Electric | 18.1 | 31.9 | ||||||||||
PSNH | 21 | 16.9 | ||||||||||
WMECO | 10 | 13.8 | ||||||||||
In the first nine months of 2014, as a result of damages awarded to the Yankee Companies for spent nuclear fuel lawsuits against the DOE described in Note 9C, "Commitments and Contingencies - Contractual Obligations - Yankee Companies," NU received total proceeds of $132.1 million, which were net of $80.6 million in proceeds CYAPC and YAEC returned to non-affiliated member companies. | ||||||||||||
H. Severance Benefits | ||||||||||||
NU recorded severance benefit expenses of $0.7 million and $6.5 million associated with the partial outsourcing of information technology functions and ongoing post-merger integration for the three and nine months ended September 30, 2014, respectively, and $9.2 million for the three and nine months ended September 30, 2013. As of September 30, 2014 and December 31, 2013, the severance accrual totaled $6.4 million and $14.7 million, respectively, and was included in Other Current Liabilities on the balance sheets. |
REGULATORY_ACCOUNTING
REGULATORY ACCOUNTING | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
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 follow 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, 2014 | As of December 31, 2013 | ||||||||||||||||||||||||
(Millions of Dollars) | NU | NU | |||||||||||||||||||||||
Benefit Costs | $ | 1,113.20 | $ | 1,240.20 | |||||||||||||||||||||
Derivative Liabilities | 427.5 | 638 | |||||||||||||||||||||||
Income Taxes, Net | 623.2 | 626.2 | |||||||||||||||||||||||
Storm Restoration Costs | 493.5 | 589.6 | |||||||||||||||||||||||
Goodwill-related | 510.5 | 525.9 | |||||||||||||||||||||||
Regulatory Tracker Mechanisms | 235.7 | 323.4 | |||||||||||||||||||||||
Contractual Obligations - Yankee Companies | 124.6 | 154.2 | |||||||||||||||||||||||
Buy Out Agreements for Power Contracts | 49.8 | 70.2 | |||||||||||||||||||||||
Other Regulatory Assets | 109.1 | 126.8 | |||||||||||||||||||||||
Total Regulatory Assets | 3,687.10 | 4,294.50 | |||||||||||||||||||||||
Less: Current Portion | 446 | 535.8 | |||||||||||||||||||||||
Total Long-Term Regulatory Assets | $ | 3,241.10 | $ | 3,758.70 | |||||||||||||||||||||
As of September 30, 2014 | As of December 31, 2013 | ||||||||||||||||||||||||
NSTAR | NSTAR | ||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | |||||||||||||||||
Benefit Costs | $ | 242.2 | $ | 318.1 | $ | 78.1 | $ | 44.3 | $ | 297.7 | $ | 496.7 | $ | 100.6 | $ | 57.3 | |||||||||
Derivative Liabilities | 421.1 | 4.3 | - | - | 630.4 | 7.7 | - | - | |||||||||||||||||
Income Taxes, Net | 427.4 | 83.3 | 38.3 | 35.3 | 415.5 | 84 | 40.3 | 43.7 | |||||||||||||||||
Storm Restoration Costs | 326 | 106.2 | 29.3 | 32 | 397.8 | 109.3 | 43.7 | 38.8 | |||||||||||||||||
Goodwill-related | - | 438.3 | - | - | - | 451.5 | - | - | |||||||||||||||||
Regulatory Tracker Mechanisms | 5.2 | 76.4 | 94.7 | 23.5 | 8 | 169.5 | 83.3 | 32.6 | |||||||||||||||||
Buy Out Agreements for Power Contracts | - | 45.4 | 4.4 | - | - | 64.7 | 5.5 | - | |||||||||||||||||
Other Regulatory Assets | 63.6 | 54.2 | 35.9 | 13.5 | 64.6 | 55.9 | 38.1 | 16.7 | |||||||||||||||||
Total Regulatory Assets | 1,485.50 | 1,126.20 | 280.7 | 148.6 | 1,814.00 | 1,439.30 | 311.5 | 189.1 | |||||||||||||||||
Less: Current Portion | 116.5 | 128.2 | 102.5 | 38.9 | 150.9 | 204.1 | 92.2 | 43 | |||||||||||||||||
Total Long-Term Regulatory Assets | $ | 1,369.00 | $ | 998 | $ | 178.2 | $ | 109.7 | $ | 1,663.10 | $ | 1,235.20 | $ | 219.3 | $ | 146.1 | |||||||||
Benefit Costs: For information related to the Regulated companies' pension and other postretirement benefits, see Note 7, "Pension Benefits and Postretirement Benefits Other Than Pensions." | |||||||||||||||||||||||||
Storm Restoration Costs: On March 12, 2014, the PURA approved recovery of $365 million of deferred storm restoration costs (with carrying charges) associated with five major storms that occurred in 2011 and 2012. CL&P will recover these costs in its distribution rates over a six-year period beginning December 1, 2014. Effective June 1, 2014, CL&P received $65.4 million of DOE Phase II Damages proceeds. On June 17, 2014, the PURA ordered CL&P to refund these proceeds to customers by offsetting the deferred storm restoration costs regulatory asset. For further information on the DOE Phase II Damages proceeds received from the Yankee Companies, see Note 9C, "Commitments and Contingencies - Contractual Obligations - Yankee Companies," to the financial statements. | |||||||||||||||||||||||||
Regulatory Costs in Other Long-Term Assets: The Regulated companies had $64.7 million ($3.2 million for CL&P, $36 million for NSTAR Electric, and $11.2 million for WMECO) and $65.1 million ($7.3 million for CL&P, $33.4 million for NSTAR Electric, and $10.1 million for WMECO) of additional regulatory costs as of September 30, 2014 and December 31, 2013, respectively, that were included in Other Long-Term Assets on the balance sheets. These amounts represent incurred costs for which recovery has not yet been specifically approved by the applicable regulatory agency. However, based on regulatory policies or past precedent on similar costs, management believes it is probable that these costs will ultimately be approved and recovered from customers in rates. | |||||||||||||||||||||||||
Regulatory Liabilities: The components of regulatory liabilities are as follows: | |||||||||||||||||||||||||
As of September 30, 2014 | As of December 31, 2013 | ||||||||||||||||||||||||
(Millions of Dollars) | NU | NU | |||||||||||||||||||||||
Cost of Removal | $ | 439.1 | $ | 435.1 | |||||||||||||||||||||
Regulatory Tracker Mechanisms | 339.9 | 151.2 | |||||||||||||||||||||||
AFUDC - Transmission | 67.2 | 68.1 | |||||||||||||||||||||||
Other Regulatory Liabilities | 62.7 | 52.9 | |||||||||||||||||||||||
Total Regulatory Liabilities | 908.9 | 707.3 | |||||||||||||||||||||||
Less: Current Portion | 399 | 204.3 | |||||||||||||||||||||||
Total Long-Term Regulatory Liabilities | $ | 509.9 | $ | 503 | |||||||||||||||||||||
As of September 30, 2014 | As of December 31, 2013 | ||||||||||||||||||||||||
NSTAR | NSTAR | ||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | |||||||||||||||||
Cost of Removal | $ | 22.5 | $ | 260.7 | $ | 49.2 | $ | - | $ | 29.1 | $ | 250 | $ | 49.7 | $ | - | |||||||||
Regulatory Tracker Mechanisms | 196.4 | 67.3 | 25.9 | 43.9 | 95.6 | 21.9 | 21.6 | 21.1 | |||||||||||||||||
AFUDC - Transmission | 53.9 | 4.1 | - | 9.2 | 54.7 | 4.1 | - | 9.3 | |||||||||||||||||
Other Regulatory Liabilities | 10.6 | 31.6 | 4.7 | 0.7 | 8.4 | 31.1 | 1 | 3.4 | |||||||||||||||||
Total Regulatory Liabilities | 283.4 | 363.7 | 79.8 | 53.8 | 187.8 | 307.1 | 72.3 | 33.8 | |||||||||||||||||
Less: Current Portion | 195.7 | 97.2 | 29.2 | 43.5 | 94 | 54 | 20.6 | 19.9 | |||||||||||||||||
Total Long-Term Regulatory Liabilities | $ | 87.7 | $ | 266.5 | $ | 50.6 | $ | 10.3 | $ | 93.8 | $ | 253.1 | $ | 51.7 | $ | 13.9 | |||||||||
As a result of two FERC orders issued on June 19, 2014 in the pending base ROE complaint proceedings described in Note 9E, "Commitments and Contingencies – FERC Base ROE Complaints," in the second quarter of 2014 the Company had recorded a series of reserves at its electric subsidiaries to recognize the potential financial impact of these rulings. As of September 30, 2014, the cumulative pre-tax reserves (excluding interest) totaled $76.1 million at NU, $42.9 million at CL&P, $15.6 million at NSTAR Electric, $5.9 million at PSNH and $11.7 million at WMECO. As of December 31, 2013, as a result of the FERC ALJ initial decision in the third quarter of 2013, the Company had an aggregate pre-tax reserve (excluding interest) of $23.7 million at NU, $12.8 million at CL&P, $5.7 million at NSTAR Electric, $2.3 million at PSNH and $2.9 million at WMECO. These reserves were recorded in each electric subsidiary's respective transmission regulatory tracker mechanism and as a reduction of Operating Revenues. | |||||||||||||||||||||||||
Effective June 1, 2014, as a result of damages awarded to the Yankee Companies for spent nuclear fuel lawsuits against the DOE described in Note 9C, "Commitments and Contingencies - Contractual Obligations - Yankee Companies," the Yankee Companies returned the DOE Phase II Damages proceeds to the member companies, including CL&P, NSTAR Electric, PSNH, and WMECO, for the benefit of their respective customers. CL&P's refund obligation to customers of $65.4 million was recorded as an offset to the deferred storm restoration costs regulatory asset, as directed by PURA. NSTAR Electric's, PSNH's and WMECO's refund obligation to customers of $29.1 million, $13.1 million and $18.1 million, respectively, was recorded as a regulatory liability in each electric subsidiary's respective regulatory tracker mechanisms. Refunds to customers for these DOE proceeds began in the third quarter of 2014. |
PROPERTY_PLANT_AND_ACCUMULATED
PROPERTY, PLANT AND ACCUMULATED DEPRECIATION | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ' | |||||||||||||||||||||||
Property Plant And Equipment Disclosure [Text Block] | ' | |||||||||||||||||||||||
3. PROPERTY, PLANT AND EQUIPMENT AND ACCUMULATED DEPRECIATION | ||||||||||||||||||||||||
The following tables summarize the investments in utility property, plant and equipment by asset category: | ||||||||||||||||||||||||
As of September 30, 2014 | As of December 31, 2013 | |||||||||||||||||||||||
(Millions of Dollars) | NU | NU | ||||||||||||||||||||||
Distribution - Electric | $ | 12,306.60 | $ | 11,950.20 | ||||||||||||||||||||
Distribution - Natural Gas | 2,494.50 | 2,425.90 | ||||||||||||||||||||||
Transmission | 6,564.20 | 6,412.50 | ||||||||||||||||||||||
Generation | 1,168.60 | 1,152.30 | ||||||||||||||||||||||
Electric and Natural Gas Utility | 22,533.90 | 21,940.90 | ||||||||||||||||||||||
Other (1) | 541.7 | 508.7 | ||||||||||||||||||||||
Property, Plant and Equipment, Gross | 23,075.60 | 22,449.60 | ||||||||||||||||||||||
Less: Accumulated Depreciation | ||||||||||||||||||||||||
Electric and Natural Gas Utility | -5,687.00 | -5,387.00 | ||||||||||||||||||||||
Other | -216.3 | -196.2 | ||||||||||||||||||||||
Total Accumulated Depreciation | -5,903.30 | -5,583.20 | ||||||||||||||||||||||
Property, Plant and Equipment, Net | 17,172.30 | 16,866.40 | ||||||||||||||||||||||
Construction Work in Progress | 1,082.30 | 709.8 | ||||||||||||||||||||||
Total Property, Plant and Equipment, Net | $ | 18,254.60 | $ | 17,576.20 | ||||||||||||||||||||
(1) These assets represent unregulated property and are primarily comprised of building improvements, computer software, hardware and equipment and telecommunications assets at NU's unregulated companies. | ||||||||||||||||||||||||
As of September 30, 2014 | As of December 31, 2013 | |||||||||||||||||||||||
NSTAR | NSTAR | |||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | ||||||||||||||||
Distribution | $ | 5,104.80 | $ | 4,812.40 | $ | 1,654.50 | $ | 774.8 | $ | 4,930.70 | $ | 4,694.70 | $ | 1,608.20 | $ | 756.6 | ||||||||
Transmission | 3,125.20 | 1,824.60 | 715.8 | 851.8 | 3,071.90 | 1,772.30 | 695.7 | 826.4 | ||||||||||||||||
Generation | - | - | 1,134.70 | 33.9 | - | - | 1,131.20 | 21.1 | ||||||||||||||||
Property, Plant and Equipment, Gross | 8,230.00 | 6,637.00 | 3,505.00 | 1,660.50 | 8,002.60 | 6,467.00 | 3,435.10 | 1,604.10 | ||||||||||||||||
Less: Accumulated Depreciation | -1,908.20 | -1,726.70 | -1,069.40 | -291.8 | -1,804.10 | -1,631.30 | -1,021.80 | -271.5 | ||||||||||||||||
Property, Plant and Equipment, Net | 6,321.80 | 4,910.30 | 2,435.60 | 1,368.70 | 6,198.50 | 4,835.70 | 2,413.30 | 1,332.60 | ||||||||||||||||
Construction Work in Progress | 379 | 301.4 | 125 | 63.7 | 252.8 | 208.2 | 54.3 | 48.5 | ||||||||||||||||
Total Property, Plant and Equipment, Net | $ | 6,700.80 | $ | 5,211.70 | $ | 2,560.60 | $ | 1,432.40 | $ | 6,451.30 | $ | 5,043.90 | $ | 2,467.60 | $ | 1,381.10 |
DERIVATIVE_INSTRUMENTS
DERIVATIVE INSTRUMENTS | 9 Months Ended | |||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||
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, which are subject to price volatility, for their customers. 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 and qualify for accrual accounting under the applicable accounting guidance. 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. | ||||||||||||||||||
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 to offset the fair values of derivatives, as costs are recovered from, or refunded to, customers in their respective energy supply rates. For NU's unregulated wholesale marketing contracts that expired on December 31, 2013, changes in fair values of derivatives were included in Net Income. | ||||||||||||||||||
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. The following tables present the gross fair values of contracts categorized by risk type and the net amount recorded as current or long-term derivative asset or liability: | ||||||||||||||||||
As of September 30, 2014 | ||||||||||||||||||
Commodity Supply and | Net Amount Recorded as | |||||||||||||||||
(Millions of Dollars) | Price Risk Management | Netting (1) | Derivative Asset/(Liability) | |||||||||||||||
Current Derivative Assets: | ||||||||||||||||||
Level 2: | ||||||||||||||||||
NU (1) | $ | 0.4 | $ | - | $ | 0.4 | ||||||||||||
Level 3: | ||||||||||||||||||
NU (1) | 17.4 | -6.8 | 10.6 | |||||||||||||||
CL&P (1) | 16.4 | -6.8 | 9.6 | |||||||||||||||
NSTAR Electric | 1 | - | 1 | |||||||||||||||
Long-Term Derivative Assets: | ||||||||||||||||||
Level 3: | ||||||||||||||||||
NU (1) | $ | 96 | $ | -20.9 | $ | 75.1 | ||||||||||||
CL&P (1) | 95.1 | -20.9 | 74.2 | |||||||||||||||
NSTAR Electric | 0.9 | - | 0.9 | |||||||||||||||
Current Derivative Liabilities: | ||||||||||||||||||
Level 2: | ||||||||||||||||||
NU (1) | $ | -2.4 | $ | 0.4 | $ | -2 | ||||||||||||
Level 3: | ||||||||||||||||||
NU | -88.3 | - | -88.3 | |||||||||||||||
CL&P | -86.8 | - | -86.8 | |||||||||||||||
NSTAR Electric | -1.5 | - | -1.5 | |||||||||||||||
Long-Term Derivative Liabilities: | ||||||||||||||||||
Level 3: | ||||||||||||||||||
NU | $ | -420.9 | $ | - | $ | -420.9 | ||||||||||||
CL&P | -418.1 | - | -418.1 | |||||||||||||||
NSTAR Electric | -2.8 | - | -2.8 | |||||||||||||||
As of December 31, 2013 | ||||||||||||||||||
Commodity Supply and | Net Amount Recorded as | |||||||||||||||||
(Millions of Dollars) | Price Risk Management | Netting (1) | Derivative Asset/(Liability) | |||||||||||||||
Current Derivative Assets: | ||||||||||||||||||
Level 2: | ||||||||||||||||||
NU (1) | $ | 1.9 | $ | -0.3 | $ | 1.6 | ||||||||||||
Level 3: | ||||||||||||||||||
NU (1) | 18.4 | -9.8 | 8.6 | |||||||||||||||
CL&P (1) | 17.1 | -9.8 | 7.3 | |||||||||||||||
NSTAR Electric | 1.2 | - | 1.2 | |||||||||||||||
Long-Term Derivative Assets: | ||||||||||||||||||
Level 2: | ||||||||||||||||||
NU | $ | 0.2 | $ | - | $ | 0.2 | ||||||||||||
Level 3: | ||||||||||||||||||
NU (1) | 116.2 | -42.2 | 74 | |||||||||||||||
CL&P (1) | 113.6 | -42.2 | 71.4 | |||||||||||||||
Current Derivative Liabilities: | ||||||||||||||||||
Level 3: | ||||||||||||||||||
NU | $ | -93.7 | $ | - | $ | -93.7 | ||||||||||||
CL&P | -92.2 | - | -92.2 | |||||||||||||||
NSTAR Electric | -1.5 | - | -1.5 | |||||||||||||||
Long-Term Derivative Liabilities: | ||||||||||||||||||
Level 3: | ||||||||||||||||||
NU | $ | -624.1 | $ | - | $ | -624.1 | ||||||||||||
CL&P | -617.1 | - | -617.1 | |||||||||||||||
NSTAR Electric | -7 | - | -7 | |||||||||||||||
Amounts represent derivative assets and liabilities that NU 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. | ||||||||||||||||||
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 At Fair Value with Offsetting Regulatory Amounts | ||||||||||||||||||
Commodity Supply and Price Risk Management: As required by regulation, CL&P, along with UI, has capacity-related contracts with generation facilities. 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 combined capacity of these contracts is 787 MW. 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 and a capacity-related contract to purchase up to 35 MW per year through 2019. | ||||||||||||||||||
As of September 30, 2014 and December 31, 2013, NU had NYMEX future contracts in order to reduce variability associated with the purchase price of approximately 9.7 million and 9.1 million MMBtu of natural gas, respectively. | ||||||||||||||||||
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: | ||||||||||||||||||
Amounts Recognized on Derivatives | ||||||||||||||||||
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | 2014 | 2013 | ||||||||||||||
NU | ||||||||||||||||||
Balance Sheets: | ||||||||||||||||||
Regulatory Assets and Liabilities | $ | -15.7 | $ | 0.3 | $ | 149.9 | $ | 48.8 | ||||||||||
Statements of Income: | ||||||||||||||||||
Purchased Power, Fuel and Transmission | - | 0.2 | - | 0.9 | ||||||||||||||
Valuation of Derivative Instruments | ||||||||||||||||||
Derivative contracts classified as Level 2 in the fair value hierarchy relate to the financial contracts for natural gas futures. Prices are obtained from broker quotes and are based on actual market activity. The contracts are valued using NYMEX natural gas prices. 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 valuations 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 a 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 and NSTAR Electric'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, 2014 | As of December 31, 2013 | |||||||||||||||||
Range | Period Covered | Range | Period Covered | |||||||||||||||
Energy Prices: | ||||||||||||||||||
NU | $ | 66 | - | 68 | per MWh | 2018 - 2020 | $ | 49 | - | 77 | per MWh | 2018 - 2029 | ||||||
CL&P | $ | 66 | - | 68 | per MWh | 2018 - 2020 | $ | 56 | - | 58 | per MWh | 2018 - 2029 | ||||||
Capacity Prices: | ||||||||||||||||||
NU | $ | 7.03 | - | 12.98 | per kW-Month | 2016 - 2026 | $ | 5.07 | - | 11.82 | per kW-Month | 2017 - 2029 | ||||||
CL&P | $ | 7.03 | - | 12.98 | per kW-Month | 2018 - 2026 | $ | 5.07 | - | 10.42 | per kW-Month | 2017 - 2026 | ||||||
NSTAR Electric | $ | 11 | - | 11.1 | per kW-Month | 2016 - 2019 | $ | 5.07 | - | 7.38 | per kW-Month | 2017 - 2019 | ||||||
Forward Reserve: | ||||||||||||||||||
NU, CL&P | $ | 5.8 | - | 9.5 | per kW-Month | 2014 - 2024 | $ | 3.3 | - | 3.3 | per kW-Month | 2014 - 2024 | ||||||
REC Prices: | ||||||||||||||||||
NU | $ | 41 | - | 70 | per REC | 2014 - 2018 | $ | 36 | - | 87 | per REC | 2014 - 2029 | ||||||
NSTAR Electric | $ | 41 | - | 70 | per REC | 2014 - 2018 | $ | 36 | - | 70 | per REC | 2014 - 2018 | ||||||
Exit price premiums of 8 percent through 25 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 energy 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 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. | ||||||||||||||||||
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||
(Millions of Dollars) | NU | NU | NU | NU | ||||||||||||||
Derivatives, Net: | ||||||||||||||||||
Fair Value as of Beginning of Period | $ | -430.9 | $ | -788.1 | $ | -635.2 | $ | -878.6 | ||||||||||
Net Realized/Unrealized Gains Included in: | ||||||||||||||||||
Net Income | - | 1.2 | - | 8.3 | ||||||||||||||
Regulatory Assets and Liabilities | -13.6 | 0.8 | 147.6 | 49.6 | ||||||||||||||
Settlements | 21 | 21.3 | 64.1 | 55.9 | ||||||||||||||
Fair Value as of End of Period | $ | -423.5 | $ | -764.8 | $ | -423.5 | $ | -764.8 | ||||||||||
For the Three Months Ended September 30, | ||||||||||||||||||
2014 | 2013 | |||||||||||||||||
(Millions of Dollars) | CL&P | NSTAR Electric | CL&P | NSTAR Electric | ||||||||||||||
Derivatives, Net: | ||||||||||||||||||
Fair Value as of Beginning of Period | $ | -424.6 | $ | -6.3 | $ | -775.8 | $ | -13.1 | ||||||||||
Net Realized/Unrealized Gains/(Losses) Included in Regulatory Assets and Liabilities | -15 | 1.4 | -1.2 | 0.5 | ||||||||||||||
Settlements | 18.5 | 2.5 | 21.7 | 1 | ||||||||||||||
Fair Value as of End of Period | $ | -421.1 | $ | -2.4 | $ | -755.3 | $ | -11.6 | ||||||||||
For the Nine Months Ended September 30, | ||||||||||||||||||
2014 | 2013 | |||||||||||||||||
(Millions of Dollars) | CL&P | NSTAR Electric | CL&P | NSTAR Electric | ||||||||||||||
Derivatives, Net: | ||||||||||||||||||
Fair Value as of Beginning of Period | $ | -630.6 | $ | -7.3 | $ | -866.2 | $ | -14.9 | ||||||||||
Net Realized/Unrealized Gains/(Losses) Included in Regulatory Assets and Liabilities | 149.4 | 0.9 | 45.1 | 0.6 | ||||||||||||||
Settlements | 60.1 | 4 | 65.8 | 2.7 | ||||||||||||||
Fair Value as of End of Period | $ | -421.1 | $ | -2.4 | $ | -755.3 | $ | -11.6 |
MARKETABLE_SECURITIES
MARKETABLE SECURITIES | 9 Months Ended | ||||||||||||||
Sep. 30, 2014 | |||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ' | ||||||||||||||
Marketable Securities [Text Block] | ' | ||||||||||||||
5. MARKETABLE SECURITIES | |||||||||||||||
NU maintains trusts to fund certain non-qualified executive benefits and WMECO maintains a spent nuclear fuel trust to fund WMECO's prior period spent nuclear fuel liability. These trusts hold marketable securities. These trusts are not subject to regulatory oversight by state or federal agencies. In addition, CYAPC and YAEC maintain legally restricted trusts, each of which holds marketable securities, for settling the decommissioning obligations of their nuclear power plants. | |||||||||||||||
In accordance with applicable accounting guidance, the Company elected to record mutual funds designated as available-for-sale at fair value and certain other equity investments as trading securities, with the changes in fair values recorded in Other Income, Net on the statements of income. As of September 30, 2014, the mutual funds and equity investments were classified as Level 1 in the fair value hierarchy and totaled $58.2 million and $24.4 million, respectively. As of December 31, 2013, the mutual funds were classified as Level 1 and totaled $57.2 million. For the three months ended September 30, 2014 and 2013, net losses of $1.9 million and net gains of $3 million, respectively, were recorded in Other Income, Net. For the nine months ended September 30, 2014 and 2013, net gains of $1.9 million and $7.3 million, respectively, were recorded in Other Income, Net. Dividend income is recorded in Other Income, Net on the statements of income when dividends are declared. All other marketable securities are accounted for as available-for-sale. | |||||||||||||||
Available-for-Sale Securities: The following is a summary of NU's and WMECO's available-for-sale securities. These securities are recorded at fair value and included in current and long-term Marketable Securities on the balance sheets. | |||||||||||||||
As of September 30, 2014 | |||||||||||||||
Pre-Tax | Pre-Tax | ||||||||||||||
Amortized | Unrealized | Unrealized | |||||||||||||
(Millions of Dollars) | Cost | Gains | Losses | Fair Value | |||||||||||
NU | |||||||||||||||
Debt Securities (1) | $ | 310.6 | $ | 7.8 | $ | -0.2 | $ | 318.2 | |||||||
Equity Securities (1) | 160.9 | 71.1 | - | 232 | |||||||||||
WMECO | |||||||||||||||
Debt Securities (2) | 58.1 | 0.1 | -0.1 | 58.1 | |||||||||||
As of December 31, 2013 | |||||||||||||||
Pre-Tax | Pre-Tax | ||||||||||||||
Amortized | Unrealized | Unrealized | |||||||||||||
(Millions of Dollars) | Cost | Gains | Losses | Fair Value | |||||||||||
NU | |||||||||||||||
Debt Securities (1) | $ | 299.2 | $ | 2.5 | $ | -2.1 | $ | 299.6 | |||||||
Equity Securities (1) | 163.6 | 60.5 | - | 224.1 | |||||||||||
WMECO | |||||||||||||||
Debt Securities (2) | 57.9 | - | - | 57.9 | |||||||||||
(1) NU's amounts include CYAPC's and YAEC's marketable securities held in nuclear decommissioning trusts of $447.7 million and $424 million as of September 30, 2014 and December 31, 2013, respectively, which are legally restricted and can only be used for the costs of decommissioning of the nuclear power plants owned by these companies. 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 statements of income. All of the equity securities accounted for as available-for-sale securities are held in the CYAPC and YAEC trusts. | |||||||||||||||
Unrealized gains and losses on debt securities held by WMECO are recorded in Other Long-Term Assets on the balance sheets. | |||||||||||||||
Unrealized Losses and Other-than-Temporary Impairment: There have been no significant unrealized losses, other-than-temporary impairments or credit losses for NU or WMECO. 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 NU's benefit trust, Other Long-Term Assets for WMECO, and offset in Other Long-Term Liabilities for CYAPC and YAEC. NU utilizes the specific identification basis method for the NU benefit trust and the average cost basis method for the WMECO 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, 2014, 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) | $ | 47.6 | $ | 47.6 | $ | 21.9 | $ | 22.1 | |||||||
One to five years | 91 | 91.4 | 30.7 | 30.5 | |||||||||||
Six to ten years | 65.6 | 67.5 | 1.4 | 1.4 | |||||||||||
Greater than ten years | 106.4 | 111.7 | 4.1 | 4.1 | |||||||||||
Total Debt Securities | $ | 310.6 | $ | 318.2 | $ | 58.1 | $ | 58.1 | |||||||
(1) 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-14 | 31-Dec-13 | 30-Sep-14 | 31-Dec-13 | |||||||||||
Level 1: | |||||||||||||||
Mutual Funds and Equities | $ | 314.6 | $ | 281.3 | $ | - | $ | - | |||||||
Money Market Funds | 27.1 | 32.9 | 4.4 | 10.9 | |||||||||||
Total Level 1 | $ | 341.7 | $ | 314.2 | $ | 4.4 | $ | 10.9 | |||||||
Level 2: | |||||||||||||||
U.S. Government Issued Debt Securities (Agency and Treasury) | $ | 56.5 | $ | 61.4 | $ | - | $ | 6.8 | |||||||
Corporate Debt Securities | 61.2 | 53.6 | 14.1 | 15.1 | |||||||||||
Asset-Backed Debt Securities | 37.9 | 30.4 | 14.3 | 9 | |||||||||||
Municipal Bonds | 112.5 | 105.5 | 13.9 | 11.2 | |||||||||||
Other Fixed Income Securities | 23 | 15.8 | 11.4 | 4.9 | |||||||||||
Total Level 2 | $ | 291.1 | $ | 266.7 | $ | 53.7 | $ | 47 | |||||||
Total Marketable Securities | $ | 632.8 | $ | 580.9 | $ | 58.1 | $ | 57.9 | |||||||
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, 2014 | |
Notes To Consolidated Financial Statements [Abstract] | ' |
Debt Disclosure | ' |
6. SHORT-TERM AND LONG-TERM DEBT | |
Credit Agreements and Commercial Paper Programs: Effective July 23, 2014, NU parent, CL&P, PSNH, WMECO, NSTAR Gas and Yankee Gas extended the expiration date of their joint $1.45 billion revolving credit facility for one additional year to September 6, 2019. The revolving credit facility is to be used primarily to backstop NU parent's $1.45 billion commercial paper program. The commercial paper program allows NU parent to issue commercial paper as a form of short-term debt. As of September 30, 2014 and December 31, 2013, NU had $964.5 million and $1.01 billion, respectively, in short-term borrowings outstanding under the NU parent commercial paper program, leaving $485.5 million and $435.5 million of available borrowing capacity as of September 30, 2014 and December 31, 2013, respectively. The weighted-average interest rate on these borrowings as of September 30, 2014 and December 31, 2013 was 0.25 percent and 0.24 percent, respectively, which is generally based on A2/P2 rated commercial paper. As of September 30, 2014, there were intercompany loans from NU of $105.4 million to CL&P, $153.3 million to PSNH and $13.2 million to WMECO. As of December 31, 2013, there were intercompany loans from NU of $287.3 million to CL&P and $86.5 million to PSNH. | |
Effective July 23, 2014, NSTAR Electric extended the expiration date of its $450 million revolving credit facility for one additional year to September 6, 2019. This facility serves to backstop NSTAR Electric's existing $450 million commercial paper program. As of September 30, 2014 and December 31, 2013, NSTAR Electric had $159.5 million and $103.5 million, respectively, in short-term borrowings outstanding under its commercial paper program, leaving $290.5 million and $346.5 million of available borrowing capacity as of September 30, 2014 and December 31, 2013, respectively. The weighted-average interest rate on these borrowings as of September 30, 2014 and December 31, 2013 was 0.16 percent and 0.13 percent, respectively, which is generally based on A2/P1 rated commercial paper. | |
Amounts outstanding under the commercial paper programs are generally 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 NU Parent and classified in current liabilities on the balance sheets. | |
Long-Term Debt: On January 2, 2014, Yankee Gas issued $100 million of 4.82 percent Series L First Mortgage Bonds, due to mature in 2044. The proceeds, net of issuance costs, were used to repay the $75 million 4.80 percent Series G First Mortgage Bonds that matured on January 1, 2014 and to pay $25 million in short-term borrowings. As the debt issuance refinanced short-term debt, the short-term debt was classified as Long-Term Debt on NU's balance sheet as of December 31, 2013. | |
On March 7, 2014, NSTAR Electric issued $300 million of 4.40 percent debentures, due to mature in 2044. The proceeds, net of issuance costs, were used to repay the $300 million of 4.875 percent debentures that matured on April 15, 2014. | |
On April 24, 2014, CL&P issued $250 million of 4.30 percent 2014 Series A First Mortgage Bonds, due to mature in 2044. The proceeds, net of issuance costs, were used to repay short-term borrowings. | |
On July 15, 2014, PSNH repaid at maturity the $50 million of 5.25 percent Series L First Mortgage Bonds using short-term borrowings. | |
On September 15, 2014, CL&P repaid at maturity the $150 million of 4.80 percent 2004 Series A First Mortgage Bonds. | |
On October 14, 2014, PSNH issued $75 million of first mortgage bonds at a yield of 3.144 percent that will mature on November 1, 2023. The first mortgage bonds are part of the same series of PSNH's existing 3.50 percent Series S First Mortgage Bonds that were initially issued in November 2013. As a result, the aggregate principal amount of PSNH's outstanding Series S First Mortgage Bonds totals $325 million. The proceeds, net of issuance costs, were used to repay short-term borrowings. As the debt issuance refinanced short-term debt, the short-term debt was classified as Long-Term Debt on NU's balance sheet as of September 30, 2014. | |
On August 27, 2014, PURA approved CL&P's request to extend the authorization period for issuance of up to $366.4 million in long-term debt from December 31, 2014 to December 31, 2015. |
PENSION_BENEFITS_AND_POSTRETIR
PENSION BENEFITS AND POSTRETIREMENT BENEFITS OTHER THAN PENSIONS | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
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, SERP and PBOP Plans are shown below. The net periodic benefit expense less the capitalized portion of pension and PBOP amounts is included in Operations and Maintenance on the statements of income. Capitalized pension and PBOP amounts relate to employees working on capital projects and are included in Property, Plant and Equipment, Net. Intercompany allocations are not included in the CL&P, NSTAR Electric, PSNH and WMECO net periodic benefit expense amounts. | |||||||||||||||||||||||||
Pension and SERP | Pension and SERP | ||||||||||||||||||||||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||||||||||||||||
30-Sep-14 | 30-Sep-13 | 30-Sep-14 | 30-Sep-13 | ||||||||||||||||||||||
(Millions of Dollars) | NU | NU | NU | NU | |||||||||||||||||||||
Service Cost | $ | 19.1 | $ | 25.6 | $ | 60.7 | $ | 76.7 | |||||||||||||||||
Interest Cost | 56.4 | 51.7 | 169.5 | 155 | |||||||||||||||||||||
Expected Return on Plan Assets | -77.7 | -69.5 | -233.1 | -208.5 | |||||||||||||||||||||
Actuarial Loss | 31.7 | 52.4 | 96.5 | 158.1 | |||||||||||||||||||||
Prior Service Cost | 1.1 | 1.1 | 3.3 | 3 | |||||||||||||||||||||
Total Net Periodic Benefit Expense | $ | 30.6 | $ | 61.3 | $ | 96.9 | $ | 184.3 | |||||||||||||||||
Capitalized Pension Expense | $ | 8.3 | $ | 18.3 | $ | 26.7 | $ | 54.9 | |||||||||||||||||
PBOP | PBOP | ||||||||||||||||||||||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||||||||||||||||
30-Sep-14 | 30-Sep-13 | 30-Sep-14 | 30-Sep-13 | ||||||||||||||||||||||
(Millions of Dollars) | NU | NU | NU | NU | |||||||||||||||||||||
Service Cost | $ | 3.1 | $ | 4.2 | $ | 9.3 | $ | 12.6 | |||||||||||||||||
Interest Cost | 12.4 | 11.8 | 37.1 | 35.4 | |||||||||||||||||||||
Expected Return on Plan Assets | -15.8 | -13.9 | -47.4 | -41.6 | |||||||||||||||||||||
Actuarial Loss | 3 | 6.5 | 9.1 | 19.5 | |||||||||||||||||||||
Prior Service Credit | -0.7 | -0.5 | -2.1 | -1.5 | |||||||||||||||||||||
Total Net Periodic Benefit Expense | $ | 2 | $ | 8.1 | $ | 6 | $ | 24.4 | |||||||||||||||||
Capitalized PBOP Expense | $ | 1.1 | $ | 2.6 | $ | 1.9 | $ | 7.6 | |||||||||||||||||
Pension and SERP | |||||||||||||||||||||||||
For the Three Months Ended September 30, 2014 | For the Three Months Ended September 30, 2013 | ||||||||||||||||||||||||
NSTAR | NSTAR | ||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | Electric(1) | PSNH | WMECO | |||||||||||||||||
Service Cost | $ | 5 | $ | 3 | $ | 2.3 | $ | 0.8 | $ | 6.3 | $ | 8.3 | 3.3 | $ | 1.2 | ||||||||||
Interest Cost | 12.5 | 10.3 | 5.7 | 2.5 | 12.1 | 14.5 | 5.8 | 2.5 | |||||||||||||||||
Expected Return on Plan Assets | -18.7 | -15.7 | -9.3 | -4.4 | -18.4 | -21.1 | -9.2 | -4.3 | |||||||||||||||||
Actuarial Loss | 8.2 | 5.9 | 2.8 | 1.7 | 13.9 | 14.4 | 5.4 | 2.9 | |||||||||||||||||
Prior Service Cost | 0.4 | - | 0.1 | 0.1 | 0.4 | - | 0.1 | 0.1 | |||||||||||||||||
Total Net Periodic Benefit Expense | $ | 7.4 | $ | 3.5 | $ | 1.6 | $ | 0.7 | $ | 14.3 | $ | 16.1 | $ | 5.4 | $ | 2.4 | |||||||||
Intercompany Allocations | $ | 6.5 | $ | 2.9 | $ | 1.8 | $ | 1.2 | $ | 11.4 | $ | -2.1 | $ | 2.6 | $ | 2 | |||||||||
Capitalized Pension Expense | $ | 4.3 | $ | 2.6 | $ | 0.7 | $ | 0.6 | $ | 7 | $ | 9.8 | $ | 1.7 | $ | 1.3 | |||||||||
Pension and SERP | |||||||||||||||||||||||||
For the Nine Months Ended September 30, 2014 | For the Nine Months Ended September 30, 2013 | ||||||||||||||||||||||||
NSTAR | NSTAR | ||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | Electric(1) | PSNH | WMECO | |||||||||||||||||
Service Cost | $ | 15.2 | $ | 10.6 | $ | 7.4 | $ | 2.7 | $ | 18.7 | $ | 24.8 | $ | 9.8 | $ | 3.5 | |||||||||
Interest Cost | 38.1 | 31 | 18 | 7.8 | 36.3 | 43.5 | 17.8 | 7.5 | |||||||||||||||||
Expected Return on Plan Assets | -56.7 | -47.3 | -28.8 | -13.5 | -55.4 | -63.3 | -26.2 | -13 | |||||||||||||||||
Actuarial Loss | 25.5 | 17.6 | 8.9 | 5.2 | 42 | 43.6 | 16.2 | 8.9 | |||||||||||||||||
Prior Service Cost/(Credit) | 1.4 | - | 0.5 | 0.3 | 1.4 | -0.2 | 0.4 | 0.3 | |||||||||||||||||
Total Net Periodic Benefit Expense | $ | 23.5 | $ | 11.9 | $ | 6 | $ | 2.5 | $ | 43 | $ | 48.4 | $ | 18 | $ | 7.2 | |||||||||
Intercompany Allocations | $ | 20.8 | $ | 6.7 | $ | 6 | $ | 3.9 | $ | 33.6 | $ | -6.2 | $ | 7.8 | $ | 6 | |||||||||
Capitalized Pension Expense | $ | 13.6 | $ | 5.5 | $ | 2.4 | $ | 2 | $ | 21 | $ | 21.6 | $ | 5.6 | $ | 3.9 | |||||||||
PBOP | |||||||||||||||||||||||||
For the Three Months Ended September 30, 2014 | For the Three Months Ended September 30, 2013 | ||||||||||||||||||||||||
(Millions of Dollars) | CL&P | NSTAR Electric | PSNH | WMECO | CL&P | PSNH | WMECO | ||||||||||||||||||
Service Cost | $ | 0.6 | $ | 0.8 | $ | 0.3 | $ | 0.1 | $ | 0.9 | $ | 0.6 | $ | 0.2 | |||||||||||
Interest Cost | 2 | 4.9 | 1.1 | 0.4 | 2 | 1 | 0.4 | ||||||||||||||||||
Expected Return on Plan Assets | -2.6 | -6.5 | -1.4 | -0.6 | -2.5 | -1.3 | -0.6 | ||||||||||||||||||
Actuarial Loss/(Gain) | 1 | -0.1 | 0.6 | 0.1 | 1.8 | 0.9 | 0.3 | ||||||||||||||||||
Prior Service Credit | - | -0.5 | - | - | - | - | - | ||||||||||||||||||
Total Net Periodic Benefit Expense/(Income) | $ | 1 | $ | -1.4 | $ | 0.6 | $ | 0 | $ | 2.2 | $ | 1.2 | $ | 0.3 | |||||||||||
Intercompany Allocations | $ | 0.9 | $ | 0.3 | $ | 0.2 | $ | 0.2 | $ | 1.7 | $ | 0.4 | $ | 0.3 | |||||||||||
Capitalized PBOP Expense/(Income) | $ | 0.5 | $ | -0.5 | $ | 0.2 | $ | - | $ | 1.3 | $ | 0.4 | $ | 0.3 | |||||||||||
PBOP | |||||||||||||||||||||||||
For the Nine Months Ended September 30, 2014 | For the Nine Months Ended September 30, 2013 | ||||||||||||||||||||||||
(Millions of Dollars) | CL&P | NSTAR Electric | PSNH | WMECO | CL&P | PSNH | WMECO | ||||||||||||||||||
Service Cost | $ | 1.7 | $ | 2.3 | $ | 1 | $ | 0.3 | $ | 2.6 | $ | 1.7 | $ | 0.5 | |||||||||||
Interest Cost | 6 | 14.6 | 3.2 | 1.3 | 5.9 | 3.1 | 1.3 | ||||||||||||||||||
Expected Return on Plan Assets | -7.9 | -19.5 | -4.1 | -1.7 | -7.6 | -3.9 | -1.7 | ||||||||||||||||||
Actuarial Loss/(Gain) | 3.2 | -0.4 | 1.7 | 0.3 | 5.6 | 2.7 | 0.8 | ||||||||||||||||||
Prior Service Credit | - | -1.4 | - | - | - | - | - | ||||||||||||||||||
Total Net Periodic Benefit Expense/(Income) | $ | 3 | $ | -4.4 | $ | 1.8 | $ | 0.2 | $ | 6.5 | $ | 3.6 | $ | 0.9 | |||||||||||
Intercompany Allocations | $ | 3.1 | $ | 0.4 | $ | 0.8 | $ | 0.6 | $ | 5.3 | $ | 1.2 | $ | 1 | |||||||||||
Capitalized PBOP Expense/(Income) | $ | 1.5 | $ | -1.5 | $ | 0.6 | $ | 0.1 | $ | 3.7 | $ | 1.1 | $ | 0.7 | |||||||||||
NSTAR Electric's pension amounts for the three and nine months ended September 30, 2013 do not include SERP expense. | |||||||||||||||||||||||||
For the three and nine months ended September 30, 2013, the net periodic PBOP expense allocated to NSTAR Electric was $1.2 million and $3.5 million, respectively. | |||||||||||||||||||||||||
As of December 31, 2013, the funded status of the NSTAR Pension Plan was recorded on NSTAR Electric's balance sheet while the total SERP obligation and PBOP Plan funded status were recorded on NSTAR Electric & Gas' balance sheet. As of December 31, 2013, all NSTAR employees were employed by NSTAR Electric & Gas. On January 1, 2014, NSTAR Electric & Gas was merged into NUSCO and, concurrently, all employees were transferred to the company they predominately provide services for: NUSCO, NSTAR Electric or NSTAR Gas. As a result of the employee transfers, the pension and PBOP assets and liabilities were attributed by participant and transferred to the respective company's balance sheets. This change had no impact on the income statement or net assets of NSTAR Electric or NU. | |||||||||||||||||||||||||
As of September 30, 2014, the liabilities associated with the Pension, SERP and PBOP plans for NSTAR Electric were $83.4 million for the Pension Plan, $3.6 million for the SERP Plans ($0.4 million of which is included in other current liabilities) and $55.6 million for the PBOP Plan. As of December 31, 2013, the liability associated with the NSTAR Pension Plan for NSTAR Electric was $118 million. | |||||||||||||||||||||||||
INCOME_TAXES
INCOME TAXES | 9 Months Ended |
Sep. 30, 2014 | |
Notes To Consolidated Financial Statements [Abstract] | ' |
Income Tax Disclosure [Text Block] | ' |
8. INCOME TAXES | |
In the third quarter of 2014, the Company recorded a reduction to its state credit carryforwards of $11 million (CL&P $10.1 million), net of tax, as a result of an update to reflect the amounts expired. Further, the Company decreased its valuation allowance reserve for state credits by $22.3 million (all at CL&P), net of tax, to reflect the expiration of state credits in its recently filed return and the latest available data. These updates resulted in a net reduction in income tax expense of $11.3 million (CL&P $12.2 million). | |
COMMITMENTS_AND_CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||
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, 2014 | As of December 31, 2013 | ||||||||||||||||||||
Reserve | Reserve | ||||||||||||||||||||
Number of Sites | (in millions) | Number of Sites | (in millions) | ||||||||||||||||||
NU | 65 | $ | 34.7 | 68 | $ | 35.4 | |||||||||||||||
CL&P | 16 | 4 | 18 | 3.4 | |||||||||||||||||
NSTAR Electric | 13 | 1.1 | 12 | 1.2 | |||||||||||||||||
PSNH | 13 | 5.3 | 15 | 5.4 | |||||||||||||||||
WMECO | 4 | 0.5 | 5 | 0.4 | |||||||||||||||||
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 $29.8 million and $31.4 million as of September 30, 2014 and December 31, 2013, respectively, and relates primarily to the natural gas business segment. | |||||||||||||||||||||
B. Long-Term Contractual Arrangements | |||||||||||||||||||||
The following is an update to the current status of long-term contractual arrangements set forth in Note 12B of the NU 2013 Form 10-K. | |||||||||||||||||||||
Renewable Energy: Renewable energy contracts include non-cancelable commitments under contracts of CL&P, NSTAR Electric and WMECO for the purchase of energy and capacity from renewable energy facilities. | |||||||||||||||||||||
October - December | |||||||||||||||||||||
(Millions of Dollars) | 2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total | ||||||||||||||
CL&P | $ | 20 | $ | 60.7 | $ | 66.1 | $ | 67 | $ | 67.7 | $ | 717 | $ | 998.5 | |||||||
NSTAR Electric | 21.8 | 86.3 | 100 | 96.1 | 59.6 | 377.6 | 741.4 | ||||||||||||||
WMECO | - | - | 2.4 | 2.4 | 2.4 | 28.9 | 36.1 | ||||||||||||||
C. Contractual Obligations – Yankee Companies | |||||||||||||||||||||
Spent Nuclear Fuel Litigation – DOE Phase II Damages – On November 15, 2013, the Court of Federal Claims issued an award to CYAPC for $126.3 million, YAEC for $73.3 million and MYAPC for $35.8 million for lawsuits against the DOE seeking recovery of actual damages incurred in the years following 2001 and 2002 (DOE Phase II Damages). On January 14, 2014, the Yankee Companies received a letter from the U.S. Department of Justice stating that the DOE will not appeal the court's final judgment. | |||||||||||||||||||||
On March 28, 2014, CYAPC, YAEC and MYAPC received payment of $90 million, $73.3 million and $35.8 million, respectively, of the DOE Phase II Damages proceeds. On April 24, 2014, CYAPC received payment of the remaining $36.3 million proceeds. On April 28, 2014, the Yankee Companies made the required informational filing with FERC in accordance with the process and methodology outlined in the 2013 FERC order. The Yankee Companies returned the DOE Phase II Damages proceeds to the member companies, including CL&P, NSTAR Electric, PSNH, and WMECO, for the benefit of their respective customers, on June 1, 2014. | |||||||||||||||||||||
As of September 30, 2014, CL&P's refund obligation to customers of $65.4 million was recorded as an offset to the deferred storm restoration costs regulatory asset, as directed by PURA. NSTAR Electric's, PSNH's and WMECO's refund obligation to customers of $29.1 million, $13.1 million and $18.1 million, respectively, was recorded as a regulatory liability in each company's respective regulatory tracker mechanisms. Refunds to customers for these DOE proceeds began in the third quarter of 2014. For further information, see Note 2, "Regulatory Accounting," to the financial statements. | |||||||||||||||||||||
DOE Phase III Damages – On August 15, 2013, the Yankee Companies each filed subsequent lawsuits against the DOE seeking recovery of actual damages incurred in the years 2009 through 2012. Responsive pleading from the U.S. Department of Justice was filed on November 18, 2013, and discovery has begun. | |||||||||||||||||||||
DOE Phase I Damages - Proceeds Received – On September 17, 2014, in accordance with the MYAPC refund plan, MYAPC returned a portion of the DOE Phase I Damages proceeds to the member companies, including CL&P, NSTAR Electric, PSNH, and WMECO, in the amount of $3.2 million, $1.1 million, $1.4 million and $0.8 million, respectively. These amounts reduced receivables at CL&P, NSTAR Electric, PSNH and WMECO. | |||||||||||||||||||||
D. Guarantees and Indemnifications | |||||||||||||||||||||
NU parent 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 and the termination of an unregulated business, 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 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, 2014: | |||||||||||||||||||||
Maximum Exposure | |||||||||||||||||||||
Subsidiary | Description | (in millions) | Expiration Dates | ||||||||||||||||||
Various | Surety Bonds | $ | 64.3 | 2014 - 2016 (1) | |||||||||||||||||
Various | New England Hydro Companies' Long-Term Debt | $ | 2 | Unspecified | |||||||||||||||||
NUSCO and RRR | Lease Payments for Vehicles and Real Estate | $ | 15.3 | 2019 and 2024 | |||||||||||||||||
(1) Surety bond expiration dates reflect termination dates, the majority of which will be renewed or extended. | |||||||||||||||||||||
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 are downgraded. | |||||||||||||||||||||
E. FERC Base ROE Complaints | |||||||||||||||||||||
First Complaint: On September 30, 2011, a complaint was filed jointly at FERC under Sections 206 and 306 of the Federal Power Act (the "first complaint") by several New England state attorneys general, state regulatory commissions, consumer advocates and other parties (the "Complainants"). The Complainants alleged that the base ROE of 11.14 percent that has been utilized since 2006 in the calculation of formula rates for transmission service under the ISO-NE Open Access Transmission Tariff by NETOs, including CL&P, NSTAR Electric, PSNH and WMECO, was unjust and unreasonable and asserted that the rate was excessive due to changes in the capital markets. Complainants sought an order to reduce the base ROE prospectively from the date of a final FERC order (the "FERC order date"), and for the 15-month period October 1, 2011 to December 31, 2012 (the "first complaint refund period"), and to require refunds. The FERC set the case for trial before a FERC ALJ after settlement negotiations were unsuccessful in August 2012. | |||||||||||||||||||||
On August 6, 2013, the FERC ALJ issued an initial decision on the first complaint finding that the base ROE in effect during the first complaint refund period was not reasonable and recommended separate base ROEs for the first complaint refund period of 10.6 percent and for the period beginning when FERC issues its final decision (the "prospective period") of 9.7 percent, leaving policy considerations and additional adjustments to the FERC. In 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 first complaint refund period. See Cumulative Reserves below for further information on the reserves recorded in the third quarter of 2013. | |||||||||||||||||||||
On June 19, 2014, FERC issued an order on the first complaint, partially affirming and partially reversing the FERC ALJ's initial decision. FERC set a single tentative base ROE of 10.57 percent for the first complaint refund period and prospective period. FERC also modified its traditional methodology by adopting a two-step discounted cash flow analysis that it utilizes to determine the ROEs of both natural gas and oil pipeline projects. Using this methodology, FERC determined a new zone of reasonableness of 7.03 percent to 11.74 percent, and set the tentative base ROE halfway between the midpoint and the top of the zone of reasonableness. FERC also stated that a utility's “total ROE, inclusive of transmission incentive ROE adders” should not exceed the top of the new zone of reasonableness produced by this methodology. FERC instituted a paper hearing on the long-term growth rate portion of the methodology (the "paper hearing"). Rehearing requests on this new methodology were filed in July, and briefs were filed in August and September by the parties on the appropriate long-term growth rate. In the second quarter of 2014, the Company recorded additional reserves at its electric subsidiaries to recognize the potential financial impact from the FERC's June 19th order. See Cumulative Reserves below for further information on the reserves recorded in the second quarter of 2014. | |||||||||||||||||||||
On October 16, 2014, the FERC issued an order in the paper hearing, which confirmed that the base ROE should be set at 10.57 percent and that a utility's total or maximum ROE should not exceed the top of the new zone of reasonableness (11.74 percent). The FERC ordered the NETOs to provide refunds to customers for the first complaint refund period, and set the new base ROE prospectively from the order date. | |||||||||||||||||||||
Second Complaint: On December 27, 2012, a second complaint was filed jointly at FERC by several additional consumer groups and municipal parties (the "second complaint"), which challenged the NETOs' base ROE prospectively from the FERC order date and sought refunds for the 15-month period January 1, 2013 to March 31, 2014 (the "second complaint refund period"). | |||||||||||||||||||||
On June 19, 2014, FERC issued an order finding that the second complaint raised issues of material fact. On July 21, 2014, the NETOs filed a rehearing request in this proceeding. On October 24, 2014, the FERC assigned the case for trial before a FERC ALJ after settlement negotiations were unsuccessful. The FERC ALJ has set a trial date beginning June 8, 2015, and will issue an initial decision on or before October 26, 2015. In the second quarter of 2014, the Company recorded reserves at its electric subsidiaries to recognize the potential financial impact from the FERC's June 19th order for the second complaint refund period. See Cumulative Reserves below for further information on the reserves recorded in the second quarter of 2014. | |||||||||||||||||||||
Third Complaint: On July 31, 2014, a third complaint was filed at FERC (the "third complaint") by most of the Complainants to the first and second complaints, claiming that the base ROE and incentive adders exceed the range of permissible ROEs, requesting FERC to reduce the NETO's base ROE prospectively from the FERC order date, and seeking refunds for the 15-month period beginning August 1, 2014 (the "third complaint refund period"). FERC has taken no action on this complaint to date. At this time, the Company cannot determine the outcome of this complaint. | |||||||||||||||||||||
Cumulative Reserves: The following is a summary as of September 30, 2014 of the cumulative reserves (excluding interest) that the Company established in the third quarter of 2013 and the second quarter of 2014 to recognize the potential financial impacts of the first and second complaints. Management is currently evaluating the impact of the October 16th order on the previously established reserves. | |||||||||||||||||||||
NU | |||||||||||||||||||||
Third Quarter | Second Quarter | ||||||||||||||||||||
(Millions of Dollars) | 2013 | 2014 | Total | ||||||||||||||||||
1st Complaint - Base ROE | $ | 23.7 | $ | 1.2 | $ | 24.9 | |||||||||||||||
2nd Complaint - Base ROE | - | 27.4 | 27.4 | ||||||||||||||||||
Incentive ROE (1st and 2nd Complaint) | - | 23.8 | 23.8 | ||||||||||||||||||
Cumulative Reserve | $ | 23.7 | $ | 52.4 | $ | 76.1 | |||||||||||||||
CL&P | NSTAR Electric | ||||||||||||||||||||
Third Quarter | Second Quarter | Third Quarter | Second Quarter | ||||||||||||||||||
(Millions of Dollars) | 2013 | 2014 | Total | 2013 | 2014 | Total | |||||||||||||||
1st Complaint - Base ROE | $ | 12.8 | $ | 0.5 | $ | 13.3 | $ | 5.7 | $ | 0.4 | $ | 6.1 | |||||||||
2nd Complaint - Base ROE | - | 13.5 | 13.5 | - | 7.5 | 7.5 | |||||||||||||||
Incentive ROE (1st and 2nd Complaint) | - | 16.1 | 16.1 | - | 2 | 2 | |||||||||||||||
Cumulative Reserve | $ | 12.8 | $ | 30.1 | $ | 42.9 | $ | 5.7 | $ | 9.9 | $ | 15.6 | |||||||||
PSNH | WMECO | ||||||||||||||||||||
Third Quarter | Second Quarter | Third Quarter | Second Quarter | ||||||||||||||||||
(Millions of Dollars) | 2013 | 2014 | Total | 2013 | 2014 | Total | |||||||||||||||
1st Complaint - Base ROE | $ | 2.3 | $ | 0.1 | $ | 2.4 | $ | 2.9 | $ | 0.2 | $ | 3.1 | |||||||||
2nd Complaint - Base ROE | - | 2.7 | 2.7 | - | 3.7 | 3.7 | |||||||||||||||
Incentive ROE (1st and 2nd Complaint) | - | 0.8 | 0.8 | - | 4.9 | 4.9 | |||||||||||||||
Cumulative Reserve | $ | 2.3 | $ | 3.6 | $ | 5.9 | $ | 2.9 | $ | 8.8 | $ | 11.7 | |||||||||
The aggregate after-tax charge to second quarter 2014 earnings resulting from the June 19, 2014 FERC orders totaled $32.1 million at NU, $18.5 million at CL&P, $6.1 million at NSTAR Electric, $2 million at PSNH and $5.5 million at WMECO. In the third quarter of 2013, the aggregate after-tax charge to earnings totaled $14.3 million at NU, $7.7 million at CL&P, $3.4 million at NSTAR Electric, $1.4 million at PSNH and $1.8 million at WMECO. | |||||||||||||||||||||
F. 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. The DPU has not taken any action on the remand. | |||||||||||||||||||||
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 the 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 2012. NSTAR Electric will continue to maintain the reserve until the proceeding has been concluded with the DPU. | |||||||||||||||||||||
FAIR_VALUE_OF_FINANCIAL_INSTRU
FAIR VALUE OF FINANCIAL INSTRUMENTS | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
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 and Long-Term Debt: 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 long-term debt securities 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. 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, 2014 | As of December 31, 2013 | ||||||||||||||||||||||||
NU | NU | ||||||||||||||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||||||||||||||
(Millions of Dollars) | Amount | Value | Amount | Value | |||||||||||||||||||||
Preferred Stock Not Subject to Mandatory Redemption | $ | 155.6 | $ | 151 | $ | 155.6 | $ | 152.7 | |||||||||||||||||
Long-Term Debt | 8,412.60 | 8,876.30 | 8,310.20 | 8,443.10 | |||||||||||||||||||||
As of September 30, 2014 | |||||||||||||||||||||||||
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 | $ | 110.1 | $ | 43 | $ | 40.9 | $ | - | $ | - | $ | - | $ | - | |||||||||
Long-Term Debt | 2,841.80 | 3,189.50 | 1,797.40 | 1,959.40 | 999.2 | 1,046.40 | 628.7 | 667.4 | |||||||||||||||||
As of December 31, 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 | $ | 110.5 | $ | 43 | $ | 42.2 | $ | - | $ | - | $ | - | $ | - | |||||||||
Long-Term Debt | 2,741.20 | 2,952.80 | 1,801.10 | 1,888.00 | 1,049.00 | 1,073.90 | 629.4 | 640.1 | |||||||||||||||||
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 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. | |||||||||||||||||||||||||
See Note 1D, "Summary of Significant Accounting Policies - Fair Value Measurements," for the fair value measurement policy and the fair value hierarchy. |
ACCUMULATED_OTHER_COMPREHENSIV
ACCUMULATED OTHER COMPREHENSIVE INCOME | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
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, 2014 | For the Nine Months Ended September 30, 2013 | ||||||||||||||||||||||||
Unrealized | Pension, | Unrealized | Pension, | ||||||||||||||||||||||
Qualified | Gains/(Losses) | SERP and | Qualified | Gains/(Losses) | SERP and | ||||||||||||||||||||
Cash Flow | on Available- | PBOP | Cash Flow | on Available- | PBOP | ||||||||||||||||||||
Hedging | for-Sale | Benefit | Hedging | for-Sale | Benefit | ||||||||||||||||||||
(Millions of Dollars) | Instruments | Securities | Plans | Total | Instruments | Securities | Plans | Total | |||||||||||||||||
AOCI as of Beginning of Period | $ | -14.4 | $ | 0.4 | $ | -32 | $ | -46 | $ | -16.4 | $ | 1.3 | $ | -57.8 | $ | -72.9 | |||||||||
OCI Before Reclassifications | - | 0.2 | 1.2 | 1.4 | - | -0.8 | - | -0.8 | |||||||||||||||||
Amounts Reclassified from AOCI | 1.5 | - | 2.9 | 4.4 | 1.5 | - | 4.8 | 6.3 | |||||||||||||||||
Net OCI | 1.5 | 0.2 | 4.1 | 5.8 | 1.5 | -0.8 | 4.8 | 5.5 | |||||||||||||||||
AOCI as of End of Period | $ | -12.9 | $ | 0.6 | $ | -27.9 | $ | -40.2 | $ | -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 impacted line item on the statements of income: | |||||||||||||||||||||||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||
Amounts Reclassified | Amounts Reclassified | Statements of Income | |||||||||||||||||||||||
from AOCI | from AOCI | Line Item Impacted | |||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Qualified Cash Flow Hedging Instruments | $ | -0.8 | $ | -0.8 | $ | -2.5 | $ | -2.5 | Interest Expense | ||||||||||||||||
Tax Benefit | 0.3 | 0.3 | 1 | 1 | Income Tax Expense | ||||||||||||||||||||
Qualified Cash Flow Hedging Instruments, Net of Tax | $ | -0.5 | $ | -0.5 | $ | -1.5 | $ | -1.5 | |||||||||||||||||
Pension, SERP and PBOP Benefit Plan Costs: | |||||||||||||||||||||||||
Amortization of Actuarial Losses | $ | -1.6 | $ | -2.5 | $ | -4.7 | $ | -7.3 | Operations and Maintenance (1) | ||||||||||||||||
Amortization of Prior Service Cost | - | - | -0.1 | -0.1 | Operations and Maintenance (1) | ||||||||||||||||||||
Total Pension, SERP and PBOP Benefit Plan Costs | -1.6 | -2.5 | -4.8 | -7.4 | |||||||||||||||||||||
Tax Benefit | 0.6 | 0.9 | 1.9 | 2.6 | Income Tax Expense | ||||||||||||||||||||
Pension, SERP and PBOP Benefit Plan Costs, Net of Tax | $ | -1 | $ | -1.6 | $ | -2.9 | $ | -4.8 | |||||||||||||||||
Total Amounts Reclassified from AOCI, Net of Tax | $ | -1.5 | $ | -2.1 | $ | -4.4 | $ | -6.3 | |||||||||||||||||
These 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, 2014 | |||||||||
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 common stock of CL&P, NSTAR Electric, PSNH and WMECO that were authorized and issued and the respective per share par values: | |||||||||
Shares | |||||||||
Authorized as of | |||||||||
Per Share | September 30, 2014 and | Issued as of | |||||||
Par Value | 31-Dec-13 | 30-Sep-14 | 31-Dec-13 | ||||||
NU | $ | 5 | 380,000,000 | 333,353,446 | 333,113,492 | ||||
CL&P | $ | 10 | 24,500,000 | 6,035,205 | 6,035,205 | ||||
NSTAR Electric | $ | 1 | 100,000,000 | 100 | 100 | ||||
PSNH | $ | 1 | 100,000,000 | 301 | 301 | ||||
WMECO | $ | 25 | 1,072,471 | 434,653 | 434,653 | ||||
As of September 30, 2014 and December 31, 2013, there were 16,730,815 and 17,796,672 NU common shares held as treasury shares, respectively. As of September 30, 2014 and December 31, 2013, NU common shares outstanding were 316,622,631 and 315,273,559, respectively. |
COMMON_SHARESHOLDERS_EQUITY_AN
COMMON SHARESHOLDERS' EQUITY AND NONCONTROLLING INTERESTS (NU) | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
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-14 | 30-Sep-13 | |||||||||||||||
Noncontrolling | Noncontrolling | |||||||||||||||
Interest - | Interest - | |||||||||||||||
Common | Preferred | Common | Preferred | |||||||||||||
Shareholders' | Stock of | Shareholders' | Stock of | |||||||||||||
(Millions of Dollars) | Equity | Subsidiaries | Equity | Subsidiaries | ||||||||||||
Balance as of Beginning of Period | $ | 9,753.80 | $ | 155.6 | $ | 9,406.60 | $ | 155.6 | ||||||||
Net Income | 236.5 | - | 211.4 | - | ||||||||||||
Dividends on Common Shares | -124.2 | - | -114.9 | - | ||||||||||||
Dividends on Preferred Stock | -1.9 | -1.9 | -1.9 | -1.9 | ||||||||||||
Issuance of Common Shares | 1 | - | 1.4 | - | ||||||||||||
Other Transactions, Net | 24.1 | - | 12.8 | - | ||||||||||||
Net Income Attributable to Noncontrolling Interests | - | 1.9 | - | 1.9 | ||||||||||||
Other Comprehensive Income | 1.3 | - | 2.1 | - | ||||||||||||
Balance as of End of Period | $ | 9,890.60 | $ | 155.6 | $ | 9,517.50 | $ | 155.6 | ||||||||
For the Nine Months Ended | ||||||||||||||||
30-Sep-14 | 30-Sep-13 | |||||||||||||||
Noncontrolling | Noncontrolling | |||||||||||||||
Interest - | Interest - | |||||||||||||||
Common | Preferred | Common | Preferred | |||||||||||||
Shareholders' | Stock of | Shareholders' | Stock of | |||||||||||||
(Millions of Dollars) | Equity | Subsidiaries | Equity | Subsidiaries | ||||||||||||
Balance as of Beginning of Period | $ | 9,611.50 | $ | 155.6 | $ | 9,237.10 | $ | 155.6 | ||||||||
Net Income | 603.6 | - | 614.4 | - | ||||||||||||
Dividends on Common Shares | -372.2 | - | -346.9 | - | ||||||||||||
Dividends on Preferred Stock | -5.6 | -5.6 | -5.8 | -5.8 | ||||||||||||
Issuance of Common Shares | 6.4 | - | 10.2 | - | ||||||||||||
Other Transactions, Net | 41 | - | 3 | - | ||||||||||||
Net Income Attributable to Noncontrolling Interests | - | 5.6 | - | 5.8 | ||||||||||||
Other Comprehensive Income | 5.9 | - | 5.5 | - | ||||||||||||
Balance as of End of Period | $ | 9,890.60 | $ | 155.6 | $ | 9,517.50 | $ | 155.6 |
EARNINGS_PER_SHARE
EARNINGS PER SHARE | 9 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
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 of certain share-based compensation awards as if they were converted into common shares. There were no antidilutive share awards outstanding for the three and nine months ended September 30, 2014 or for the three months ended September 30, 2013. For the nine months ended September 30, 2013, there were 2,100 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-14 | 30-Sep-13 | 30-Sep-14 | 30-Sep-13 | |||||||||
Net Income Attributable to Controlling Interest | $ | 234.6 | $ | 209.5 | $ | 597.9 | $ | 608.6 | |||||
Weighted Average Common Shares Outstanding: | |||||||||||||
Basic | 316,340,691 | 315,291,346 | 315,941,904 | 315,191,752 | |||||||||
Dilutive Effect | 1,214,234 | 926,893 | 1,244,586 | 869,379 | |||||||||
Diluted | 317,554,925 | 316,218,239 | 317,186,490 | 316,061,131 | |||||||||
Basic and Diluted EPS | $ | 0.74 | $ | 0.66 | $ | 1.89 | $ | 1.93 | |||||
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, 2014 | |||||||||||||||||||
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 reportable 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 reportable segments represented substantially all of NU's total consolidated revenues for the three and nine months ended September 30, 2014 and 2013. 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 reportable segment includes the generation activities of PSNH and WMECO. | |||||||||||||||||||
The remainder of NU's operations is presented as Other in the tables below and 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 expense related to the debt of NU parent, 2) the revenues and expenses of NU's service company, most of which are eliminated in consolidation, 3) the operations of CYAPC and YAEC, and 4) the results of other unregulated subsidiaries, which are not part of its core business. | |||||||||||||||||||
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 determined 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. NU's operating segments and reporting units are consistent with its reportable business segments. | |||||||||||||||||||
NU's segment information is as follows: | |||||||||||||||||||
For the Three Months Ended September 30, 2014 | |||||||||||||||||||
Electric | Natural Gas | ||||||||||||||||||
(Millions of Dollars) | Distribution | Distribution | Transmission | Other | Eliminations | Total | |||||||||||||
Operating Revenues | $ | 1,502.60 | $ | 109.2 | $ | 262.5 | $ | 211.2 | $ | -193 | $ | 1,892.50 | |||||||
Depreciation and Amortization | -71.7 | -16.4 | -37.4 | -13.8 | 8.6 | -130.7 | |||||||||||||
Other Operating Expenses | -1,141.50 | -98.4 | -74.2 | -192.4 | 185.6 | -1,320.90 | |||||||||||||
Operating Income/(Loss) | 289.4 | -5.6 | 150.9 | 5 | 1.2 | 440.9 | |||||||||||||
Interest Expense | -49.2 | -8.5 | -24.5 | -8.6 | 1 | -89.8 | |||||||||||||
Other Income, Net | 9.3 | 0.1 | 2.7 | 226.4 | -226.6 | 11.9 | |||||||||||||
Net Income Attributable to Controlling Interest | $ | 153.4 | $ | -9.9 | $ | 88.1 | $ | 228.3 | $ | -225.3 | $ | 234.6 | |||||||
For the Nine Months Ended September 30, 2014 | |||||||||||||||||||
Electric | Natural Gas | ||||||||||||||||||
(Millions of Dollars) | Distribution | Distribution | Transmission | Other | Eliminations | Total | |||||||||||||
Operating Revenues | $ | 4,350.40 | $ | 737.5 | $ | 721.4 | $ | 568.1 | $ | -516.7 | $ | 5,860.70 | |||||||
Depreciation and Amortization | -309.9 | -51.1 | -111.4 | -28.3 | 12.7 | -488 | |||||||||||||
Other Operating Expenses | -3,343.90 | -586.2 | -211.5 | -534.1 | 505.6 | -4,170.10 | |||||||||||||
Operating Income | 696.6 | 100.2 | 398.5 | 5.7 | 1.6 | 1,202.60 | |||||||||||||
Interest Expense | -143.8 | -25.6 | -78.8 | -27.2 | 3.2 | -272.2 | |||||||||||||
Other Income, Net | 13.6 | 0.2 | 6.9 | 657.9 | -659.5 | 19.1 | |||||||||||||
Net Income Attributable to Controlling Interest | $ | 349.1 | $ | 44.2 | $ | 206.8 | $ | 653.4 | $ | -655.6 | $ | 597.9 | |||||||
Cash Flows Used for Investments in Plant | $ | 480.1 | $ | 120.6 | $ | 469.9 | $ | 46.9 | $ | - | $ | 1,117.50 | |||||||
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 | |||||||||||||
Interest Expense | -44.3 | -8.6 | -26.6 | -9.2 | 1.2 | -87.5 | |||||||||||||
Other Income, Net | 5.5 | 0.5 | 2.9 | 312.1 | -312.1 | 8.9 | |||||||||||||
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 | |||||||||||||
Interest Expense | -129.9 | -24.8 | -73.7 | -26.3 | 4.1 | -250.6 | |||||||||||||
Other Income, Net | 12.6 | 0.7 | 8.5 | 866.2 | -866.3 | 21.7 | |||||||||||||
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 | |||||||
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, 2014 | $ | 16,702.30 | $ | 2,801.10 | $ | 7,404.50 | $ | 12,270.20 | $ | -11,195.80 | $ | 27,982.30 | |||||||
As of December 31, 2013 | 17,260.00 | 2,759.70 | 6,745.80 | 11,842.40 | -10,812.40 | 27,795.50 |
SIGNIFCANT_ACCOUNTING_POLICIES
SIGNIFCANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
Sep. 30, 2014 | |
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. 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. | |
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 2014 combined Quarterly Reports on Form 10-Q and the 2013 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, 2014 and December 31, 2013, the results of operations and comprehensive income for the three and nine months ended September 30, 2014 and 2013, and the cash flows for the nine months ended September 30, 2014 and 2013. The results of operations and comprehensive income for the three and nine months ended September 30, 2014 and 2013, and the cash flows for the nine months ended September 30, 2014 and 2013 are not necessarily indicative of the results expected for a full year. | |
NU consolidates CYAPC and YAEC because 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 of the NU financial statements. For CL&P, NSTAR Electric, PSNH and WMECO, the investments 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, CL&P, NSTAR Electric and PSNH, and in the statements of income for NU, NSTAR Electric, PSNH and WMECO. These reclassifications were made to conform to the current period presentation. | |
Receivables Policy Text Block | ' |
NU, including CL&P, NSTAR Electric, PSNH and WMECO, presents its receivables at estimated net realizable value by maintaining a provision for uncollectible accounts. This provision is determined based upon a variety of factors, including the application of an estimated uncollectible percentage to each receivable aging category. The estimate is based upon historical collection and write-off experience and management's assessment of collectibility from individual customers. Management continuously assesses the collectibility of receivables, and adjusts collectibility estimates based on actual experience. 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 | ' |
Fair value measurement guidance is applied to derivative contracts that are not elected or designated as "normal purchases or normal sales" (normal) 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, and is also used to estimate the fair value of preferred stock and long-term debt. | |
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. | |
The following methods and assumptions were used to estimate the fair value of each of the following financial instruments: | |
Preferred Stock and Long-Term Debt: 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 long-term debt securities 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. 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 Taxes on the statements of 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 follow 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, which are subject to price volatility, for their customers. 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 and qualify for accrual accounting under the applicable accounting guidance. 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. | |
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 to offset the fair values of derivatives, as costs are recovered from, or refunded to, customers in their respective energy supply rates. For NU's unregulated wholesale marketing contracts that expired on December 31, 2013, changes in fair values of derivatives were included in Net Income. | |
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. The following tables present the gross fair values of contracts categorized by risk type and the net amount recorded as current or long-term derivative asset or liability: | |
Marketable Securities Policy | ' |
5. MARKETABLE SECURITIES | |
NU maintains trusts to fund certain non-qualified executive benefits and WMECO maintains a spent nuclear fuel trust to fund WMECO's prior period spent nuclear fuel liability. These trusts hold marketable securities. These trusts are not subject to regulatory oversight by state or federal agencies. In addition, CYAPC and YAEC maintain legally restricted trusts, each of which holds marketable securities, for settling the decommissioning obligations of their nuclear power plants. | |
In accordance with applicable accounting guidance, the Company elected to record mutual funds designated as available-for-sale at fair value and certain other equity investments as trading securities, with the changes in fair values recorded in Other Income, Net on the statements of income. As of September 30, 2014, the mutual funds and equity investments were classified as Level 1 in the fair value hierarchy and totaled $58.2 million and $24.4 million, respectively. As of December 31, 2013, the mutual funds were classified as Level 1 and totaled $57.2 million. For the three months ended September 30, 2014 and 2013, net losses of $1.9 million and net gains of $3 million, respectively, were recorded in Other Income, Net. For the nine months ended September 30, 2014 and 2013, net gains of $1.9 million and $7.3 million, respectively, were recorded in Other Income, Net. Dividend income is recorded in Other Income, Net on the statements of income when dividends are declared. All other marketable securities are accounted for as available-for-sale. | |
Available-for-Sale Securities: The following is a summary of NU's and WMECO's available-for-sale securities. These securities are recorded at fair value and included in current and long-term Marketable Securities on the balance sheets. | |
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 of certain share-based compensation awards as if they were 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 reportable 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 reportable segments represented substantially all of NU's total consolidated revenues for the three and nine months ended September 30, 2014 and 2013. 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 reportable segment includes the generation activities of PSNH and WMECO. | |
The remainder of NU's operations is presented as Other in the tables below and 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 expense related to the debt of NU parent, 2) the revenues and expenses of NU's service company, most of which are eliminated in consolidation, 3) the operations of CYAPC and YAEC, and 4) the results of other unregulated subsidiaries, which are not part of its core business. | |
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, 2014 | ||||||||
Notes To Consolidated Financial Statements [Abstract] | ' | |||||||
Schedule Of Accounts Notes Loans And Financing Receivable Text Block | ' | |||||||
(Millions of Dollars) | As of September 30, 2014 | As of December 31, 2013 | ||||||
NU | $ | 181.4 | $ | 171.3 | ||||
CL&P | 85.8 | 82 | ||||||
NSTAR Electric | 42.3 | 41.7 | ||||||
PSNH | 7.9 | 7.4 | ||||||
WMECO | 11.1 | 10 |
Other_Taxes_Tables
Other Taxes (Tables) | 9 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
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-14 | 30-Sep-13 | 30-Sep-14 | 30-Sep-13 | ||||||||
NU | $ | 35 | $ | 37.5 | $ | 114.6 | $ | 108.9 | ||||
CL&P | 32.5 | 35.5 | 99 | 97.3 |
Supplemental_Cash_Flow_Informa
Supplemental Cash Flow Information (Tables) | 9 Months Ended | |||||||||
Sep. 30, 2014 | ||||||||||
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, 2014 | As of September 30, 2013 | ||||||||
NU | $ | 128.9 | $ | 122.9 | ||||||
CL&P | 52.2 | 36.6 | ||||||||
NSTAR Electric | 18.1 | 31.9 | ||||||||
PSNH | 21 | 16.9 | ||||||||
WMECO | 10 | 13.8 |
REGULATORY_ACCOUNTING_Tables
REGULATORY ACCOUNTING (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ' | ||||||||||||||||||||||||
Schedule Of Regulatory Assets Text Block | ' | ||||||||||||||||||||||||
As of September 30, 2014 | As of December 31, 2013 | ||||||||||||||||||||||||
(Millions of Dollars) | NU | NU | |||||||||||||||||||||||
Benefit Costs | $ | 1,113.20 | $ | 1,240.20 | |||||||||||||||||||||
Derivative Liabilities | 427.5 | 638 | |||||||||||||||||||||||
Income Taxes, Net | 623.2 | 626.2 | |||||||||||||||||||||||
Storm Restoration Costs | 493.5 | 589.6 | |||||||||||||||||||||||
Goodwill-related | 510.5 | 525.9 | |||||||||||||||||||||||
Regulatory Tracker Mechanisms | 235.7 | 323.4 | |||||||||||||||||||||||
Contractual Obligations - Yankee Companies | 124.6 | 154.2 | |||||||||||||||||||||||
Buy Out Agreements for Power Contracts | 49.8 | 70.2 | |||||||||||||||||||||||
Other Regulatory Assets | 109.1 | 126.8 | |||||||||||||||||||||||
Total Regulatory Assets | 3,687.10 | 4,294.50 | |||||||||||||||||||||||
Less: Current Portion | 446 | 535.8 | |||||||||||||||||||||||
Total Long-Term Regulatory Assets | $ | 3,241.10 | $ | 3,758.70 | |||||||||||||||||||||
As of September 30, 2014 | As of December 31, 2013 | ||||||||||||||||||||||||
NSTAR | NSTAR | ||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | |||||||||||||||||
Benefit Costs | $ | 242.2 | $ | 318.1 | $ | 78.1 | $ | 44.3 | $ | 297.7 | $ | 496.7 | $ | 100.6 | $ | 57.3 | |||||||||
Derivative Liabilities | 421.1 | 4.3 | - | - | 630.4 | 7.7 | - | - | |||||||||||||||||
Income Taxes, Net | 427.4 | 83.3 | 38.3 | 35.3 | 415.5 | 84 | 40.3 | 43.7 | |||||||||||||||||
Storm Restoration Costs | 326 | 106.2 | 29.3 | 32 | 397.8 | 109.3 | 43.7 | 38.8 | |||||||||||||||||
Goodwill-related | - | 438.3 | - | - | - | 451.5 | - | - | |||||||||||||||||
Regulatory Tracker Mechanisms | 5.2 | 76.4 | 94.7 | 23.5 | 8 | 169.5 | 83.3 | 32.6 | |||||||||||||||||
Buy Out Agreements for Power Contracts | - | 45.4 | 4.4 | - | - | 64.7 | 5.5 | - | |||||||||||||||||
Other Regulatory Assets | 63.6 | 54.2 | 35.9 | 13.5 | 64.6 | 55.9 | 38.1 | 16.7 | |||||||||||||||||
Total Regulatory Assets | 1,485.50 | 1,126.20 | 280.7 | 148.6 | 1,814.00 | 1,439.30 | 311.5 | 189.1 | |||||||||||||||||
Less: Current Portion | 116.5 | 128.2 | 102.5 | 38.9 | 150.9 | 204.1 | 92.2 | 43 | |||||||||||||||||
Total Long-Term Regulatory Assets | $ | 1,369.00 | $ | 998 | $ | 178.2 | $ | 109.7 | $ | 1,663.10 | $ | 1,235.20 | $ | 219.3 | $ | 146.1 | |||||||||
Schedule Of Regulatory Liabilities Text Block | ' | ||||||||||||||||||||||||
As of September 30, 2014 | As of December 31, 2013 | ||||||||||||||||||||||||
(Millions of Dollars) | NU | NU | |||||||||||||||||||||||
Cost of Removal | $ | 439.1 | $ | 435.1 | |||||||||||||||||||||
Regulatory Tracker Mechanisms | 339.9 | 151.2 | |||||||||||||||||||||||
AFUDC - Transmission | 67.2 | 68.1 | |||||||||||||||||||||||
Other Regulatory Liabilities | 62.7 | 52.9 | |||||||||||||||||||||||
Total Regulatory Liabilities | 908.9 | 707.3 | |||||||||||||||||||||||
Less: Current Portion | 399 | 204.3 | |||||||||||||||||||||||
Total Long-Term Regulatory Liabilities | $ | 509.9 | $ | 503 | |||||||||||||||||||||
As of September 30, 2014 | As of December 31, 2013 | ||||||||||||||||||||||||
NSTAR | NSTAR | ||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | |||||||||||||||||
Cost of Removal | $ | 22.5 | $ | 260.7 | $ | 49.2 | $ | - | $ | 29.1 | $ | 250 | $ | 49.7 | $ | - | |||||||||
Regulatory Tracker Mechanisms | 196.4 | 67.3 | 25.9 | 43.9 | 95.6 | 21.9 | 21.6 | 21.1 | |||||||||||||||||
AFUDC - Transmission | 53.9 | 4.1 | - | 9.2 | 54.7 | 4.1 | - | 9.3 | |||||||||||||||||
Other Regulatory Liabilities | 10.6 | 31.6 | 4.7 | 0.7 | 8.4 | 31.1 | 1 | 3.4 | |||||||||||||||||
Total Regulatory Liabilities | 283.4 | 363.7 | 79.8 | 53.8 | 187.8 | 307.1 | 72.3 | 33.8 | |||||||||||||||||
Less: Current Portion | 195.7 | 97.2 | 29.2 | 43.5 | 94 | 54 | 20.6 | 19.9 | |||||||||||||||||
Total Long-Term Regulatory Liabilities | $ | 87.7 | $ | 266.5 | $ | 50.6 | $ | 10.3 | $ | 93.8 | $ | 253.1 | $ | 51.7 | $ | 13.9 |
PROPERTY_PLANT_AND_ACCUMULATED1
PROPERTY, PLANT AND ACCUMULATED DEPRECIATION (Tables) | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ' | |||||||||||||||||||||||
Schedule of Public Utility Property, Plant, and Equipment [Text Block] | ' | |||||||||||||||||||||||
As of September 30, 2014 | As of December 31, 2013 | |||||||||||||||||||||||
(Millions of Dollars) | NU | NU | ||||||||||||||||||||||
Distribution - Electric | $ | 12,306.60 | $ | 11,950.20 | ||||||||||||||||||||
Distribution - Natural Gas | 2,494.50 | 2,425.90 | ||||||||||||||||||||||
Transmission | 6,564.20 | 6,412.50 | ||||||||||||||||||||||
Generation | 1,168.60 | 1,152.30 | ||||||||||||||||||||||
Electric and Natural Gas Utility | 22,533.90 | 21,940.90 | ||||||||||||||||||||||
Other (1) | 541.7 | 508.7 | ||||||||||||||||||||||
Property, Plant and Equipment, Gross | 23,075.60 | 22,449.60 | ||||||||||||||||||||||
Less: Accumulated Depreciation | ||||||||||||||||||||||||
Electric and Natural Gas Utility | -5,687.00 | -5,387.00 | ||||||||||||||||||||||
Other | -216.3 | -196.2 | ||||||||||||||||||||||
Total Accumulated Depreciation | -5,903.30 | -5,583.20 | ||||||||||||||||||||||
Property, Plant and Equipment, Net | 17,172.30 | 16,866.40 | ||||||||||||||||||||||
Construction Work in Progress | 1,082.30 | 709.8 | ||||||||||||||||||||||
Total Property, Plant and Equipment, Net | $ | 18,254.60 | $ | 17,576.20 | ||||||||||||||||||||
As of September 30, 2014 | As of December 31, 2013 | |||||||||||||||||||||||
NSTAR | NSTAR | |||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | ||||||||||||||||
Distribution | $ | 5,104.80 | $ | 4,812.40 | $ | 1,654.50 | $ | 774.8 | $ | 4,930.70 | $ | 4,694.70 | $ | 1,608.20 | $ | 756.6 | ||||||||
Transmission | 3,125.20 | 1,824.60 | 715.8 | 851.8 | 3,071.90 | 1,772.30 | 695.7 | 826.4 | ||||||||||||||||
Generation | - | - | 1,134.70 | 33.9 | - | - | 1,131.20 | 21.1 | ||||||||||||||||
Property, Plant and Equipment, Gross | 8,230.00 | 6,637.00 | 3,505.00 | 1,660.50 | 8,002.60 | 6,467.00 | 3,435.10 | 1,604.10 | ||||||||||||||||
Less: Accumulated Depreciation | -1,908.20 | -1,726.70 | -1,069.40 | -291.8 | -1,804.10 | -1,631.30 | -1,021.80 | -271.5 | ||||||||||||||||
Property, Plant and Equipment, Net | 6,321.80 | 4,910.30 | 2,435.60 | 1,368.70 | 6,198.50 | 4,835.70 | 2,413.30 | 1,332.60 | ||||||||||||||||
Construction Work in Progress | 379 | 301.4 | 125 | 63.7 | 252.8 | 208.2 | 54.3 | 48.5 | ||||||||||||||||
Total Property, Plant and Equipment, Net | $ | 6,700.80 | $ | 5,211.70 | $ | 2,560.60 | $ | 1,432.40 | $ | 6,451.30 | $ | 5,043.90 | $ | 2,467.60 | $ | 1,381.10 |
DERIVATIVE_INSTRUMENTS_Tables
DERIVATIVE INSTRUMENTS (Tables) | 9 Months Ended | |||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ' | |||||||||||||||||
Schedule Of Derivative Instruments In Statement Of Financial Position Fair Value Text Block | ' | |||||||||||||||||
As of September 30, 2014 | ||||||||||||||||||
Commodity Supply and | Net Amount Recorded as | |||||||||||||||||
(Millions of Dollars) | Price Risk Management | Netting (1) | Derivative Asset/(Liability) | |||||||||||||||
Current Derivative Assets: | ||||||||||||||||||
Level 2: | ||||||||||||||||||
NU (1) | $ | 0.4 | $ | - | $ | 0.4 | ||||||||||||
Level 3: | ||||||||||||||||||
NU (1) | 17.4 | -6.8 | 10.6 | |||||||||||||||
CL&P (1) | 16.4 | -6.8 | 9.6 | |||||||||||||||
NSTAR Electric | 1 | - | 1 | |||||||||||||||
Long-Term Derivative Assets: | ||||||||||||||||||
Level 3: | ||||||||||||||||||
NU (1) | $ | 96 | $ | -20.9 | $ | 75.1 | ||||||||||||
CL&P (1) | 95.1 | -20.9 | 74.2 | |||||||||||||||
NSTAR Electric | 0.9 | - | 0.9 | |||||||||||||||
Current Derivative Liabilities: | ||||||||||||||||||
Level 2: | ||||||||||||||||||
NU (1) | $ | -2.4 | $ | 0.4 | $ | -2 | ||||||||||||
Level 3: | ||||||||||||||||||
NU | -88.3 | - | -88.3 | |||||||||||||||
CL&P | -86.8 | - | -86.8 | |||||||||||||||
NSTAR Electric | -1.5 | - | -1.5 | |||||||||||||||
Long-Term Derivative Liabilities: | ||||||||||||||||||
Level 3: | ||||||||||||||||||
NU | $ | -420.9 | $ | - | $ | -420.9 | ||||||||||||
CL&P | -418.1 | - | -418.1 | |||||||||||||||
NSTAR Electric | -2.8 | - | -2.8 | |||||||||||||||
As of December 31, 2013 | ||||||||||||||||||
Commodity Supply and | Net Amount Recorded as | |||||||||||||||||
(Millions of Dollars) | Price Risk Management | Netting (1) | Derivative Asset/(Liability) | |||||||||||||||
Current Derivative Assets: | ||||||||||||||||||
Level 2: | ||||||||||||||||||
NU (1) | $ | 1.9 | $ | -0.3 | $ | 1.6 | ||||||||||||
Level 3: | ||||||||||||||||||
NU (1) | 18.4 | -9.8 | 8.6 | |||||||||||||||
CL&P (1) | 17.1 | -9.8 | 7.3 | |||||||||||||||
NSTAR Electric | 1.2 | - | 1.2 | |||||||||||||||
Long-Term Derivative Assets: | ||||||||||||||||||
Level 2: | ||||||||||||||||||
NU | $ | 0.2 | $ | - | $ | 0.2 | ||||||||||||
Level 3: | ||||||||||||||||||
NU (1) | 116.2 | -42.2 | 74 | |||||||||||||||
CL&P (1) | 113.6 | -42.2 | 71.4 | |||||||||||||||
Current Derivative Liabilities: | ||||||||||||||||||
Level 3: | ||||||||||||||||||
NU | $ | -93.7 | $ | - | $ | -93.7 | ||||||||||||
CL&P | -92.2 | - | -92.2 | |||||||||||||||
NSTAR Electric | -1.5 | - | -1.5 | |||||||||||||||
Long-Term Derivative Liabilities: | ||||||||||||||||||
Level 3: | ||||||||||||||||||
NU | $ | -624.1 | $ | - | $ | -624.1 | ||||||||||||
CL&P | -617.1 | - | -617.1 | |||||||||||||||
NSTAR Electric | -7 | - | -7 | |||||||||||||||
Schedule Of Derivative Instruments Gain Loss In Statement Of Financial Performance Text Block | ' | |||||||||||||||||
Amounts Recognized on Derivatives | ||||||||||||||||||
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | 2014 | 2013 | ||||||||||||||
NU | ||||||||||||||||||
Balance Sheets: | ||||||||||||||||||
Regulatory Assets and Liabilities | $ | -15.7 | $ | 0.3 | $ | 149.9 | $ | 48.8 | ||||||||||
Statements of Income: | ||||||||||||||||||
Purchased Power, Fuel and Transmission | - | 0.2 | - | 0.9 | ||||||||||||||
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, | |||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||
(Millions of Dollars) | NU | NU | NU | NU | ||||||||||||||
Derivatives, Net: | ||||||||||||||||||
Fair Value as of Beginning of Period | $ | -430.9 | $ | -788.1 | $ | -635.2 | $ | -878.6 | ||||||||||
Net Realized/Unrealized Gains Included in: | ||||||||||||||||||
Net Income | - | 1.2 | - | 8.3 | ||||||||||||||
Regulatory Assets and Liabilities | -13.6 | 0.8 | 147.6 | 49.6 | ||||||||||||||
Settlements | 21 | 21.3 | 64.1 | 55.9 | ||||||||||||||
Fair Value as of End of Period | $ | -423.5 | $ | -764.8 | $ | -423.5 | $ | -764.8 | ||||||||||
For the Three Months Ended September 30, | ||||||||||||||||||
2014 | 2013 | |||||||||||||||||
(Millions of Dollars) | CL&P | NSTAR Electric | CL&P | NSTAR Electric | ||||||||||||||
Derivatives, Net: | ||||||||||||||||||
Fair Value as of Beginning of Period | $ | -424.6 | $ | -6.3 | $ | -775.8 | $ | -13.1 | ||||||||||
Net Realized/Unrealized Gains/(Losses) Included in Regulatory Assets and Liabilities | -15 | 1.4 | -1.2 | 0.5 | ||||||||||||||
Settlements | 18.5 | 2.5 | 21.7 | 1 | ||||||||||||||
Fair Value as of End of Period | $ | -421.1 | $ | -2.4 | $ | -755.3 | $ | -11.6 | ||||||||||
For the Nine Months Ended September 30, | ||||||||||||||||||
2014 | 2013 | |||||||||||||||||
(Millions of Dollars) | CL&P | NSTAR Electric | CL&P | NSTAR Electric | ||||||||||||||
Derivatives, Net: | ||||||||||||||||||
Fair Value as of Beginning of Period | $ | -630.6 | $ | -7.3 | $ | -866.2 | $ | -14.9 | ||||||||||
Net Realized/Unrealized Gains/(Losses) Included in Regulatory Assets and Liabilities | 149.4 | 0.9 | 45.1 | 0.6 | ||||||||||||||
Settlements | 60.1 | 4 | 65.8 | 2.7 | ||||||||||||||
Fair Value as of End of Period | $ | -421.1 | $ | -2.4 | $ | -755.3 | $ | -11.6 | ||||||||||
Fairvalueinputsliabilitiesquantitativeinformationtabletextblock | ' | |||||||||||||||||
As of September 30, 2014 | As of December 31, 2013 | |||||||||||||||||
Range | Period Covered | Range | Period Covered | |||||||||||||||
Energy Prices: | ||||||||||||||||||
NU | $ | 66 | - | 68 | per MWh | 2018 - 2020 | $ | 49 | - | 77 | per MWh | 2018 - 2029 | ||||||
CL&P | $ | 66 | - | 68 | per MWh | 2018 - 2020 | $ | 56 | - | 58 | per MWh | 2018 - 2029 | ||||||
Capacity Prices: | ||||||||||||||||||
NU | $ | 7.03 | - | 12.98 | per kW-Month | 2016 - 2026 | $ | 5.07 | - | 11.82 | per kW-Month | 2017 - 2029 | ||||||
CL&P | $ | 7.03 | - | 12.98 | per kW-Month | 2018 - 2026 | $ | 5.07 | - | 10.42 | per kW-Month | 2017 - 2026 | ||||||
NSTAR Electric | $ | 11 | - | 11.1 | per kW-Month | 2016 - 2019 | $ | 5.07 | - | 7.38 | per kW-Month | 2017 - 2019 | ||||||
Forward Reserve: | ||||||||||||||||||
NU, CL&P | $ | 5.8 | - | 9.5 | per kW-Month | 2014 - 2024 | $ | 3.3 | - | 3.3 | per kW-Month | 2014 - 2024 | ||||||
REC Prices: | ||||||||||||||||||
NU | $ | 41 | - | 70 | per REC | 2014 - 2018 | $ | 36 | - | 87 | per REC | 2014 - 2029 | ||||||
NSTAR Electric | $ | 41 | - | 70 | per REC | 2014 - 2018 | $ | 36 | - | 70 | per REC | 2014 - 2018 |
MARKETABLE_SECURITIES_Tables
MARKETABLE SECURITIES (Tables) | 9 Months Ended | ||||||||||||||
Sep. 30, 2014 | |||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ' | ||||||||||||||
Schedule Of Available For Sale Securities Reconciliation [Table TextBlock] | ' | ||||||||||||||
As of September 30, 2014 | |||||||||||||||
Pre-Tax | Pre-Tax | ||||||||||||||
Amortized | Unrealized | Unrealized | |||||||||||||
(Millions of Dollars) | Cost | Gains | Losses | Fair Value | |||||||||||
NU | |||||||||||||||
Debt Securities (1) | $ | 310.6 | $ | 7.8 | $ | -0.2 | $ | 318.2 | |||||||
Equity Securities (1) | 160.9 | 71.1 | - | 232 | |||||||||||
WMECO | |||||||||||||||
Debt Securities (2) | 58.1 | 0.1 | -0.1 | 58.1 | |||||||||||
As of December 31, 2013 | |||||||||||||||
Pre-Tax | Pre-Tax | ||||||||||||||
Amortized | Unrealized | Unrealized | |||||||||||||
(Millions of Dollars) | Cost | Gains | Losses | Fair Value | |||||||||||
NU | |||||||||||||||
Debt Securities (1) | $ | 299.2 | $ | 2.5 | $ | -2.1 | $ | 299.6 | |||||||
Equity Securities (1) | 163.6 | 60.5 | - | 224.1 | |||||||||||
WMECO | |||||||||||||||
Debt Securities (2) | 57.9 | - | - | 57.9 | |||||||||||
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) | $ | 47.6 | $ | 47.6 | $ | 21.9 | $ | 22.1 | |||||||
One to five years | 91 | 91.4 | 30.7 | 30.5 | |||||||||||
Six to ten years | 65.6 | 67.5 | 1.4 | 1.4 | |||||||||||
Greater than ten years | 106.4 | 111.7 | 4.1 | 4.1 | |||||||||||
Total Debt Securities | $ | 310.6 | $ | 318.2 | $ | 58.1 | $ | 58.1 | |||||||
Fair Value Heirarchy [Table Text Block] | ' | ||||||||||||||
NU | WMECO | ||||||||||||||
As of | As of | ||||||||||||||
(Millions of Dollars) | 30-Sep-14 | 31-Dec-13 | 30-Sep-14 | 31-Dec-13 | |||||||||||
Level 1: | |||||||||||||||
Mutual Funds and Equities | $ | 314.6 | $ | 281.3 | $ | - | $ | - | |||||||
Money Market Funds | 27.1 | 32.9 | 4.4 | 10.9 | |||||||||||
Total Level 1 | $ | 341.7 | $ | 314.2 | $ | 4.4 | $ | 10.9 | |||||||
Level 2: | |||||||||||||||
U.S. Government Issued Debt Securities (Agency and Treasury) | $ | 56.5 | $ | 61.4 | $ | - | $ | 6.8 | |||||||
Corporate Debt Securities | 61.2 | 53.6 | 14.1 | 15.1 | |||||||||||
Asset-Backed Debt Securities | 37.9 | 30.4 | 14.3 | 9 | |||||||||||
Municipal Bonds | 112.5 | 105.5 | 13.9 | 11.2 | |||||||||||
Other Fixed Income Securities | 23 | 15.8 | 11.4 | 4.9 | |||||||||||
Total Level 2 | $ | 291.1 | $ | 266.7 | $ | 53.7 | $ | 47 | |||||||
Total Marketable Securities | $ | 632.8 | $ | 580.9 | $ | 58.1 | $ | 57.9 |
Recovered_Sheet1
Pension Benefits and Postretirement Benefits Other Than Pensions (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
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-14 | 30-Sep-13 | 30-Sep-14 | 30-Sep-13 | ||||||||||||||||||||||
(Millions of Dollars) | NU | NU | NU | NU | |||||||||||||||||||||
Service Cost | $ | 19.1 | $ | 25.6 | $ | 60.7 | $ | 76.7 | |||||||||||||||||
Interest Cost | 56.4 | 51.7 | 169.5 | 155 | |||||||||||||||||||||
Expected Return on Plan Assets | -77.7 | -69.5 | -233.1 | -208.5 | |||||||||||||||||||||
Actuarial Loss | 31.7 | 52.4 | 96.5 | 158.1 | |||||||||||||||||||||
Prior Service Cost | 1.1 | 1.1 | 3.3 | 3 | |||||||||||||||||||||
Total Net Periodic Benefit Expense | $ | 30.6 | $ | 61.3 | $ | 96.9 | $ | 184.3 | |||||||||||||||||
Capitalized Pension Expense | $ | 8.3 | $ | 18.3 | $ | 26.7 | $ | 54.9 | |||||||||||||||||
PBOP | PBOP | ||||||||||||||||||||||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||||||||||||||||
30-Sep-14 | 30-Sep-13 | 30-Sep-14 | 30-Sep-13 | ||||||||||||||||||||||
(Millions of Dollars) | NU | NU | NU | NU | |||||||||||||||||||||
Service Cost | $ | 3.1 | $ | 4.2 | $ | 9.3 | $ | 12.6 | |||||||||||||||||
Interest Cost | 12.4 | 11.8 | 37.1 | 35.4 | |||||||||||||||||||||
Expected Return on Plan Assets | -15.8 | -13.9 | -47.4 | -41.6 | |||||||||||||||||||||
Actuarial Loss | 3 | 6.5 | 9.1 | 19.5 | |||||||||||||||||||||
Prior Service Credit | -0.7 | -0.5 | -2.1 | -1.5 | |||||||||||||||||||||
Total Net Periodic Benefit Expense | $ | 2 | $ | 8.1 | $ | 6 | $ | 24.4 | |||||||||||||||||
Capitalized PBOP Expense | $ | 1.1 | $ | 2.6 | $ | 1.9 | $ | 7.6 | |||||||||||||||||
Pension and SERP | |||||||||||||||||||||||||
For the Three Months Ended September 30, 2014 | For the Three Months Ended September 30, 2013 | ||||||||||||||||||||||||
NSTAR | NSTAR | ||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | Electric(1) | PSNH | WMECO | |||||||||||||||||
Service Cost | $ | 5 | $ | 3 | $ | 2.3 | $ | 0.8 | $ | 6.3 | $ | 8.3 | 3.3 | $ | 1.2 | ||||||||||
Interest Cost | 12.5 | 10.3 | 5.7 | 2.5 | 12.1 | 14.5 | 5.8 | 2.5 | |||||||||||||||||
Expected Return on Plan Assets | -18.7 | -15.7 | -9.3 | -4.4 | -18.4 | -21.1 | -9.2 | -4.3 | |||||||||||||||||
Actuarial Loss | 8.2 | 5.9 | 2.8 | 1.7 | 13.9 | 14.4 | 5.4 | 2.9 | |||||||||||||||||
Prior Service Cost | 0.4 | - | 0.1 | 0.1 | 0.4 | - | 0.1 | 0.1 | |||||||||||||||||
Total Net Periodic Benefit Expense | $ | 7.4 | $ | 3.5 | $ | 1.6 | $ | 0.7 | $ | 14.3 | $ | 16.1 | $ | 5.4 | $ | 2.4 | |||||||||
Intercompany Allocations | $ | 6.5 | $ | 2.9 | $ | 1.8 | $ | 1.2 | $ | 11.4 | $ | -2.1 | $ | 2.6 | $ | 2 | |||||||||
Capitalized Pension Expense | $ | 4.3 | $ | 2.6 | $ | 0.7 | $ | 0.6 | $ | 7 | $ | 9.8 | $ | 1.7 | $ | 1.3 | |||||||||
Pension and SERP | |||||||||||||||||||||||||
For the Nine Months Ended September 30, 2014 | For the Nine Months Ended September 30, 2013 | ||||||||||||||||||||||||
NSTAR | NSTAR | ||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | Electric(1) | PSNH | WMECO | |||||||||||||||||
Service Cost | $ | 15.2 | $ | 10.6 | $ | 7.4 | $ | 2.7 | $ | 18.7 | $ | 24.8 | $ | 9.8 | $ | 3.5 | |||||||||
Interest Cost | 38.1 | 31 | 18 | 7.8 | 36.3 | 43.5 | 17.8 | 7.5 | |||||||||||||||||
Expected Return on Plan Assets | -56.7 | -47.3 | -28.8 | -13.5 | -55.4 | -63.3 | -26.2 | -13 | |||||||||||||||||
Actuarial Loss | 25.5 | 17.6 | 8.9 | 5.2 | 42 | 43.6 | 16.2 | 8.9 | |||||||||||||||||
Prior Service Cost/(Credit) | 1.4 | - | 0.5 | 0.3 | 1.4 | -0.2 | 0.4 | 0.3 | |||||||||||||||||
Total Net Periodic Benefit Expense | $ | 23.5 | $ | 11.9 | $ | 6 | $ | 2.5 | $ | 43 | $ | 48.4 | $ | 18 | $ | 7.2 | |||||||||
Intercompany Allocations | $ | 20.8 | $ | 6.7 | $ | 6 | $ | 3.9 | $ | 33.6 | $ | -6.2 | $ | 7.8 | $ | 6 | |||||||||
Capitalized Pension Expense | $ | 13.6 | $ | 5.5 | $ | 2.4 | $ | 2 | $ | 21 | $ | 21.6 | $ | 5.6 | $ | 3.9 | |||||||||
PBOP | |||||||||||||||||||||||||
For the Three Months Ended September 30, 2014 | For the Three Months Ended September 30, 2013 | ||||||||||||||||||||||||
(Millions of Dollars) | CL&P | NSTAR Electric | PSNH | WMECO | CL&P | PSNH | WMECO | ||||||||||||||||||
Service Cost | $ | 0.6 | $ | 0.8 | $ | 0.3 | $ | 0.1 | $ | 0.9 | $ | 0.6 | $ | 0.2 | |||||||||||
Interest Cost | 2 | 4.9 | 1.1 | 0.4 | 2 | 1 | 0.4 | ||||||||||||||||||
Expected Return on Plan Assets | -2.6 | -6.5 | -1.4 | -0.6 | -2.5 | -1.3 | -0.6 | ||||||||||||||||||
Actuarial Loss/(Gain) | 1 | -0.1 | 0.6 | 0.1 | 1.8 | 0.9 | 0.3 | ||||||||||||||||||
Prior Service Credit | - | -0.5 | - | - | - | - | - | ||||||||||||||||||
Total Net Periodic Benefit Expense/(Income) | $ | 1 | $ | -1.4 | $ | 0.6 | $ | 0 | $ | 2.2 | $ | 1.2 | $ | 0.3 | |||||||||||
Intercompany Allocations | $ | 0.9 | $ | 0.3 | $ | 0.2 | $ | 0.2 | $ | 1.7 | $ | 0.4 | $ | 0.3 | |||||||||||
Capitalized PBOP Expense/(Income) | $ | 0.5 | $ | -0.5 | $ | 0.2 | $ | - | $ | 1.3 | $ | 0.4 | $ | 0.3 | |||||||||||
PBOP | |||||||||||||||||||||||||
For the Nine Months Ended September 30, 2014 | For the Nine Months Ended September 30, 2013 | ||||||||||||||||||||||||
(Millions of Dollars) | CL&P | NSTAR Electric | PSNH | WMECO | CL&P | PSNH | WMECO | ||||||||||||||||||
Service Cost | $ | 1.7 | $ | 2.3 | $ | 1 | $ | 0.3 | $ | 2.6 | $ | 1.7 | $ | 0.5 | |||||||||||
Interest Cost | 6 | 14.6 | 3.2 | 1.3 | 5.9 | 3.1 | 1.3 | ||||||||||||||||||
Expected Return on Plan Assets | -7.9 | -19.5 | -4.1 | -1.7 | -7.6 | -3.9 | -1.7 | ||||||||||||||||||
Actuarial Loss/(Gain) | 3.2 | -0.4 | 1.7 | 0.3 | 5.6 | 2.7 | 0.8 | ||||||||||||||||||
Prior Service Credit | - | -1.4 | - | - | - | - | - | ||||||||||||||||||
Total Net Periodic Benefit Expense/(Income) | $ | 3 | $ | -4.4 | $ | 1.8 | $ | 0.2 | $ | 6.5 | $ | 3.6 | $ | 0.9 | |||||||||||
Intercompany Allocations | $ | 3.1 | $ | 0.4 | $ | 0.8 | $ | 0.6 | $ | 5.3 | $ | 1.2 | $ | 1 | |||||||||||
Capitalized PBOP Expense/(Income) | $ | 1.5 | $ | -1.5 | $ | 0.6 | $ | 0.1 | $ | 3.7 | $ | 1.1 | $ | 0.7 |
Environmental_Matters_Tables
Environmental Matters (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ' | ||||||||||||
Schedule Of Environmental Loss Contingencies By Site Text Block | ' | ||||||||||||
As of September 30, 2014 | As of December 31, 2013 | ||||||||||||
Reserve | Reserve | ||||||||||||
Number of Sites | (in millions) | Number of Sites | (in millions) | ||||||||||
NU | 65 | $ | 34.7 | 68 | $ | 35.4 | |||||||
CL&P | 16 | 4 | 18 | 3.4 | |||||||||
NSTAR Electric | 13 | 1.1 | 12 | 1.2 | |||||||||
PSNH | 13 | 5.3 | 15 | 5.4 | |||||||||
WMECO | 4 | 0.5 | 5 | 0.4 |
LongTerm_Contractual_Arrangeme
Long-Term Contractual Arrangements (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ' | ||||||||||||||||||||
Long-term Purchase Commitment [Table Text Block] | ' | ||||||||||||||||||||
October - December | |||||||||||||||||||||
(Millions of Dollars) | 2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total | ||||||||||||||
CL&P | $ | 20 | $ | 60.7 | $ | 66.1 | $ | 67 | $ | 67.7 | $ | 717 | $ | 998.5 | |||||||
NSTAR Electric | 21.8 | 86.3 | 100 | 96.1 | 59.6 | 377.6 | 741.4 | ||||||||||||||
WMECO | - | - | 2.4 | 2.4 | 2.4 | 28.9 | 36.1 |
Guarantees_and_Indemnification
Guarantees and Indemnifications (Tables) | 9 Months Ended | |||||||||
Sep. 30, 2014 | ||||||||||
Notes To Consolidated Financial Statements [Abstract] | ' | |||||||||
Schedule Of Guarantee Obligations Text Block | ' | |||||||||
Maximum Exposure | ||||||||||
Subsidiary | Description | (in millions) | Expiration Dates | |||||||
Various | Surety Bonds | $ | 64.3 | 2014 - 2016 (1) | ||||||
Various | New England Hydro Companies' Long-Term Debt | $ | 2 | Unspecified | ||||||
NUSCO and RRR | Lease Payments for Vehicles and Real Estate | $ | 15.3 | 2019 and 2024 |
Other_Contingencies_Tables
Other Contingencies (Tables) | 9 Months Ended | ||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ' | ||||||||||||||||||
Schedule Of Loss Contingencies By Contingency [Table Text Block] | ' | ||||||||||||||||||
NU | |||||||||||||||||||
Third Quarter | Second Quarter | ||||||||||||||||||
(Millions of Dollars) | 2013 | 2014 | Total | ||||||||||||||||
1st Complaint - Base ROE | $ | 23.7 | $ | 1.2 | $ | 24.9 | |||||||||||||
2nd Complaint - Base ROE | - | 27.4 | 27.4 | ||||||||||||||||
Incentive ROE (1st and 2nd Complaint) | - | 23.8 | 23.8 | ||||||||||||||||
Cumulative Reserve | $ | 23.7 | $ | 52.4 | $ | 76.1 | |||||||||||||
CL&P | NSTAR Electric | ||||||||||||||||||
Third Quarter | Second Quarter | Third Quarter | Second Quarter | ||||||||||||||||
(Millions of Dollars) | 2013 | 2014 | Total | 2013 | 2014 | Total | |||||||||||||
1st Complaint - Base ROE | $ | 12.8 | $ | 0.5 | $ | 13.3 | $ | 5.7 | $ | 0.4 | $ | 6.1 | |||||||
2nd Complaint - Base ROE | - | 13.5 | 13.5 | - | 7.5 | 7.5 | |||||||||||||
Incentive ROE (1st and 2nd Complaint) | - | 16.1 | 16.1 | - | 2 | 2 | |||||||||||||
Cumulative Reserve | $ | 12.8 | $ | 30.1 | $ | 42.9 | $ | 5.7 | $ | 9.9 | $ | 15.6 | |||||||
PSNH | WMECO | ||||||||||||||||||
Third Quarter | Second Quarter | Third Quarter | Second Quarter | ||||||||||||||||
(Millions of Dollars) | 2013 | 2014 | Total | 2013 | 2014 | Total | |||||||||||||
1st Complaint - Base ROE | $ | 2.3 | $ | 0.1 | $ | 2.4 | $ | 2.9 | $ | 0.2 | $ | 3.1 | |||||||
2nd Complaint - Base ROE | - | 2.7 | 2.7 | - | 3.7 | 3.7 | |||||||||||||
Incentive ROE (1st and 2nd Complaint) | - | 0.8 | 0.8 | - | 4.9 | 4.9 | |||||||||||||
Cumulative Reserve | $ | 2.3 | $ | 3.6 | $ | 5.9 | $ | 2.9 | $ | 8.8 | $ | 11.7 |
FAIR_VALUE_OF_FINANCIAL_INSTRU1
FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ' | ||||||||||||||||||||||||
Fair Value By Balance Sheet Grouping Text Block | ' | ||||||||||||||||||||||||
As of September 30, 2014 | As of December 31, 2013 | ||||||||||||||||||||||||
NU | NU | ||||||||||||||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||||||||||||||
(Millions of Dollars) | Amount | Value | Amount | Value | |||||||||||||||||||||
Preferred Stock Not Subject to Mandatory Redemption | $ | 155.6 | $ | 151 | $ | 155.6 | $ | 152.7 | |||||||||||||||||
Long-Term Debt | 8,412.60 | 8,876.30 | 8,310.20 | 8,443.10 | |||||||||||||||||||||
As of September 30, 2014 | |||||||||||||||||||||||||
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 | $ | 110.1 | $ | 43 | $ | 40.9 | $ | - | $ | - | $ | - | $ | - | |||||||||
Long-Term Debt | 2,841.80 | 3,189.50 | 1,797.40 | 1,959.40 | 999.2 | 1,046.40 | 628.7 | 667.4 | |||||||||||||||||
As of December 31, 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 | $ | 110.5 | $ | 43 | $ | 42.2 | $ | - | $ | - | $ | - | $ | - | |||||||||
Long-Term Debt | 2,741.20 | 2,952.80 | 1,801.10 | 1,888.00 | 1,049.00 | 1,073.90 | 629.4 | 640.1 |
ACCUMULATED_OTHER_COMPREHENSIV1
ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ' | ||||||||||||||||||||||||
Schedule Of Accumulated Other Comprehensive Income Loss Table Text Block | ' | ||||||||||||||||||||||||
For the Nine Months Ended September 30, 2014 | For the Nine Months Ended September 30, 2013 | ||||||||||||||||||||||||
Unrealized | Pension, | Unrealized | Pension, | ||||||||||||||||||||||
Qualified | Gains/(Losses) | SERP and | Qualified | Gains/(Losses) | SERP and | ||||||||||||||||||||
Cash Flow | on Available- | PBOP | Cash Flow | on Available- | PBOP | ||||||||||||||||||||
Hedging | for-Sale | Benefit | Hedging | for-Sale | Benefit | ||||||||||||||||||||
(Millions of Dollars) | Instruments | Securities | Plans | Total | Instruments | Securities | Plans | Total | |||||||||||||||||
AOCI as of Beginning of Period | $ | -14.4 | $ | 0.4 | $ | -32 | $ | -46 | $ | -16.4 | $ | 1.3 | $ | -57.8 | $ | -72.9 | |||||||||
OCI Before Reclassifications | - | 0.2 | 1.2 | 1.4 | - | -0.8 | - | -0.8 | |||||||||||||||||
Amounts Reclassified from AOCI | 1.5 | - | 2.9 | 4.4 | 1.5 | - | 4.8 | 6.3 | |||||||||||||||||
Net OCI | 1.5 | 0.2 | 4.1 | 5.8 | 1.5 | -0.8 | 4.8 | 5.5 | |||||||||||||||||
AOCI as of End of Period | $ | -12.9 | $ | 0.6 | $ | -27.9 | $ | -40.2 | $ | -14.9 | $ | 0.5 | $ | -53 | $ | -67.4 | |||||||||
For the Three Months Ended | For the Nine Months Ended | ||||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||
Amounts Reclassified | Amounts Reclassified | Statements of Income | |||||||||||||||||||||||
from AOCI | from AOCI | Line Item Impacted | |||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Qualified Cash Flow Hedging Instruments | $ | -0.8 | $ | -0.8 | $ | -2.5 | $ | -2.5 | Interest Expense | ||||||||||||||||
Tax Benefit | 0.3 | 0.3 | 1 | 1 | Income Tax Expense | ||||||||||||||||||||
Qualified Cash Flow Hedging Instruments, Net of Tax | $ | -0.5 | $ | -0.5 | $ | -1.5 | $ | -1.5 | |||||||||||||||||
Pension, SERP and PBOP Benefit Plan Costs: | |||||||||||||||||||||||||
Amortization of Actuarial Losses | $ | -1.6 | $ | -2.5 | $ | -4.7 | $ | -7.3 | Operations and Maintenance (1) | ||||||||||||||||
Amortization of Prior Service Cost | - | - | -0.1 | -0.1 | Operations and Maintenance (1) | ||||||||||||||||||||
Total Pension, SERP and PBOP Benefit Plan Costs | -1.6 | -2.5 | -4.8 | -7.4 | |||||||||||||||||||||
Tax Benefit | 0.6 | 0.9 | 1.9 | 2.6 | Income Tax Expense | ||||||||||||||||||||
Pension, SERP and PBOP Benefit Plan Costs, Net of Tax | $ | -1 | $ | -1.6 | $ | -2.9 | $ | -4.8 | |||||||||||||||||
Total Amounts Reclassified from AOCI, Net of Tax | $ | -1.5 | $ | -2.1 | $ | -4.4 | $ | -6.3 |
COMMON_SHARES_Tables
COMMON SHARES (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
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 common stock of CL&P, NSTAR Electric, PSNH and WMECO that were authorized and issued and the respective per share par values: | |||||||||
Shares | |||||||||
Authorized as of | |||||||||
Per Share | September 30, 2014 and | Issued as of | |||||||
Par Value | 31-Dec-13 | 30-Sep-14 | 31-Dec-13 | ||||||
NU | $ | 5 | 380,000,000 | 333,353,446 | 333,113,492 | ||||
CL&P | $ | 10 | 24,500,000 | 6,035,205 | 6,035,205 | ||||
NSTAR Electric | $ | 1 | 100,000,000 | 100 | 100 | ||||
PSNH | $ | 1 | 100,000,000 | 301 | 301 | ||||
WMECO | $ | 25 | 1,072,471 | 434,653 | 434,653 | ||||
As of September 30, 2014 and December 31, 2013, there were 16,730,815 and 17,796,672 NU common shares held as treasury shares, respectively. As of September 30, 2014 and December 31, 2013, NU common shares outstanding were 316,622,631 and 315,273,559, respectively. |
COMMON_SHARESHOLDERS_EQUITY_AN1
COMMON SHARESHOLDERS' EQUITY AND NONCONTROLLING INTERESTS (NU) (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
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-14 | 30-Sep-13 | |||||||||||||||
Noncontrolling | Noncontrolling | |||||||||||||||
Interest - | Interest - | |||||||||||||||
Common | Preferred | Common | Preferred | |||||||||||||
Shareholders' | Stock of | Shareholders' | Stock of | |||||||||||||
(Millions of Dollars) | Equity | Subsidiaries | Equity | Subsidiaries | ||||||||||||
Balance as of Beginning of Period | $ | 9,753.80 | $ | 155.6 | $ | 9,406.60 | $ | 155.6 | ||||||||
Net Income | 236.5 | - | 211.4 | - | ||||||||||||
Dividends on Common Shares | -124.2 | - | -114.9 | - | ||||||||||||
Dividends on Preferred Stock | -1.9 | -1.9 | -1.9 | -1.9 | ||||||||||||
Issuance of Common Shares | 1 | - | 1.4 | - | ||||||||||||
Other Transactions, Net | 24.1 | - | 12.8 | - | ||||||||||||
Net Income Attributable to Noncontrolling Interests | - | 1.9 | - | 1.9 | ||||||||||||
Other Comprehensive Income | 1.3 | - | 2.1 | - | ||||||||||||
Balance as of End of Period | $ | 9,890.60 | $ | 155.6 | $ | 9,517.50 | $ | 155.6 | ||||||||
For the Nine Months Ended | ||||||||||||||||
30-Sep-14 | 30-Sep-13 | |||||||||||||||
Noncontrolling | Noncontrolling | |||||||||||||||
Interest - | Interest - | |||||||||||||||
Common | Preferred | Common | Preferred | |||||||||||||
Shareholders' | Stock of | Shareholders' | Stock of | |||||||||||||
(Millions of Dollars) | Equity | Subsidiaries | Equity | Subsidiaries | ||||||||||||
Balance as of Beginning of Period | $ | 9,611.50 | $ | 155.6 | $ | 9,237.10 | $ | 155.6 | ||||||||
Net Income | 603.6 | - | 614.4 | - | ||||||||||||
Dividends on Common Shares | -372.2 | - | -346.9 | - | ||||||||||||
Dividends on Preferred Stock | -5.6 | -5.6 | -5.8 | -5.8 | ||||||||||||
Issuance of Common Shares | 6.4 | - | 10.2 | - | ||||||||||||
Other Transactions, Net | 41 | - | 3 | - | ||||||||||||
Net Income Attributable to Noncontrolling Interests | - | 5.6 | - | 5.8 | ||||||||||||
Other Comprehensive Income | 5.9 | - | 5.5 | - | ||||||||||||
Balance as of End of Period | $ | 9,890.60 | $ | 155.6 | $ | 9,517.50 | $ | 155.6 |
EARNINGS_PER_SHARE_Tables
EARNINGS PER SHARE (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
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-14 | 30-Sep-13 | 30-Sep-14 | 30-Sep-13 | |||||||||
Net Income Attributable to Controlling Interest | $ | 234.6 | $ | 209.5 | $ | 597.9 | $ | 608.6 | |||||
Weighted Average Common Shares Outstanding: | |||||||||||||
Basic | 316,340,691 | 315,291,346 | 315,941,904 | 315,191,752 | |||||||||
Dilutive Effect | 1,214,234 | 926,893 | 1,244,586 | 869,379 | |||||||||
Diluted | 317,554,925 | 316,218,239 | 317,186,490 | 316,061,131 | |||||||||
Basic and Diluted EPS | $ | 0.74 | $ | 0.66 | $ | 1.89 | $ | 1.93 |
SEGMENT_INFORMATION_Tables
SEGMENT INFORMATION (Tables) | 9 Months Ended | ||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||
Segment Reporting Information [Line Items] | ' | ||||||||||||||||||
Schedule Of Segment Reporting Information By Segment Text Block | ' | ||||||||||||||||||
For the Three Months Ended September 30, 2014 | |||||||||||||||||||
Electric | Natural Gas | ||||||||||||||||||
(Millions of Dollars) | Distribution | Distribution | Transmission | Other | Eliminations | Total | |||||||||||||
Operating Revenues | $ | 1,502.60 | $ | 109.2 | $ | 262.5 | $ | 211.2 | $ | -193 | $ | 1,892.50 | |||||||
Depreciation and Amortization | -71.7 | -16.4 | -37.4 | -13.8 | 8.6 | -130.7 | |||||||||||||
Other Operating Expenses | -1,141.50 | -98.4 | -74.2 | -192.4 | 185.6 | -1,320.90 | |||||||||||||
Operating Income/(Loss) | 289.4 | -5.6 | 150.9 | 5 | 1.2 | 440.9 | |||||||||||||
Interest Expense | -49.2 | -8.5 | -24.5 | -8.6 | 1 | -89.8 | |||||||||||||
Other Income, Net | 9.3 | 0.1 | 2.7 | 226.4 | -226.6 | 11.9 | |||||||||||||
Net Income Attributable to Controlling Interest | $ | 153.4 | $ | -9.9 | $ | 88.1 | $ | 228.3 | $ | -225.3 | $ | 234.6 | |||||||
For the Nine Months Ended September 30, 2014 | |||||||||||||||||||
Electric | Natural Gas | ||||||||||||||||||
(Millions of Dollars) | Distribution | Distribution | Transmission | Other | Eliminations | Total | |||||||||||||
Operating Revenues | $ | 4,350.40 | $ | 737.5 | $ | 721.4 | $ | 568.1 | $ | -516.7 | $ | 5,860.70 | |||||||
Depreciation and Amortization | -309.9 | -51.1 | -111.4 | -28.3 | 12.7 | -488 | |||||||||||||
Other Operating Expenses | -3,343.90 | -586.2 | -211.5 | -534.1 | 505.6 | -4,170.10 | |||||||||||||
Operating Income | 696.6 | 100.2 | 398.5 | 5.7 | 1.6 | 1,202.60 | |||||||||||||
Interest Expense | -143.8 | -25.6 | -78.8 | -27.2 | 3.2 | -272.2 | |||||||||||||
Other Income, Net | 13.6 | 0.2 | 6.9 | 657.9 | -659.5 | 19.1 | |||||||||||||
Net Income Attributable to Controlling Interest | $ | 349.1 | $ | 44.2 | $ | 206.8 | $ | 653.4 | $ | -655.6 | $ | 597.9 | |||||||
Cash Flows Used for Investments in Plant | $ | 480.1 | $ | 120.6 | $ | 469.9 | $ | 46.9 | $ | - | $ | 1,117.50 | |||||||
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 | |||||||||||||
Interest Expense | -44.3 | -8.6 | -26.6 | -9.2 | 1.2 | -87.5 | |||||||||||||
Other Income, Net | 5.5 | 0.5 | 2.9 | 312.1 | -312.1 | 8.9 | |||||||||||||
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 | |||||||||||||
Interest Expense | -129.9 | -24.8 | -73.7 | -26.3 | 4.1 | -250.6 | |||||||||||||
Other Income, Net | 12.6 | 0.7 | 8.5 | 866.2 | -866.3 | 21.7 | |||||||||||||
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 | |||||||
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, 2014 | $ | 16,702.30 | $ | 2,801.10 | $ | 7,404.50 | $ | 12,270.20 | $ | -11,195.80 | $ | 27,982.30 | |||||||
As of December 31, 2013 | 17,260.00 | 2,759.70 | 6,745.80 | 11,842.40 | -10,812.40 | 27,795.50 |
Basis_of_Presentation_Details
Basis of Presentation (Details) | 9 Months Ended |
Sep. 30, 2014 | |
Description of Consolidation of Yankee Companies | 'NU consolidates CYAPC and YAEC because 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 of the NU financial statements. For CL&P, NSTAR Electric, PSNH and WMECO, the investments 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, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Accounts Notes And Loans Receivable [Line Items] | ' | ' |
Allowance For Doubtful Accounts Receivable Current | $181.40 | $171.30 |
The Connecticut Light And Power Company [Member] | ' | ' |
Accounts Notes And Loans Receivable [Line Items] | ' | ' |
Allowance For Doubtful Accounts Receivable Current | 85.8 | 82 |
NSTAR Electric Company [Member] | ' | ' |
Accounts Notes And Loans Receivable [Line Items] | ' | ' |
Allowance For Doubtful Accounts Receivable Current | 42.3 | 41.7 |
Public Service Company Of New Hampshire [Member] | ' | ' |
Accounts Notes And Loans Receivable [Line Items] | ' | ' |
Allowance For Doubtful Accounts Receivable Current | 7.9 | 7.4 |
Western Massachusetts Electric Company [Member] | ' | ' |
Accounts Notes And Loans Receivable [Line Items] | ' | ' |
Allowance For Doubtful Accounts Receivable Current | $11.10 | $10 |
Other_Taxes_Details
Other Taxes (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Excise And Sales Taxes | $35 | $37.50 | $114.60 | $108.90 |
The Connecticut Light And Power Company [Member] | ' | ' | ' | ' |
Excise And Sales Taxes | $32.50 | $35.50 | $99 | $97.30 |
Supplemental_Cash_Flow_Informa1
Supplemental Cash Flow Information (Details) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Capital Expenditures Incurred But Not Yet Paid | $128.90 | $122.90 |
The Connecticut Light And Power Company [Member] | ' | ' |
Capital Expenditures Incurred But Not Yet Paid | 52.2 | 36.6 |
NSTAR Electric Company [Member] | ' | ' |
Capital Expenditures Incurred But Not Yet Paid | 18.1 | 31.9 |
Public Service Company Of New Hampshire [Member] | ' | ' |
Capital Expenditures Incurred But Not Yet Paid | 21 | 16.9 |
Western Massachusetts Electric Company [Member] | ' | ' |
Capital Expenditures Incurred But Not Yet Paid | $10 | $13.80 |
Severance_Benefits_Details
Severance Benefits (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
Notes To Consolidated Financial Statements [Abstract] | ' | ' | ' | ' |
Description Of Postemployment Benefits | ' | 'Severance Benefits NU recorded severance benefit expenses of $0.7 million and $6.5 million associated with the partial outsourcing of information technology functions and ongoing post-merger integration for the three and nine months ended September 30, 2014, respectively, and $9.2 million for the three and nine months ended September 30, 2013. As of September 30, 2014 and December 31, 2013, the severance accrual totaled $6.4 million and $14.7 million, respectively, and was included in Other Current Liabilities on the balance sheets. | ' | ' |
Postemployment Benefits Period Expense | $0.70 | $6.50 | $9.20 | ' |
Postemployment Benefits Liability Current And Noncurrent | $6.40 | $6.40 | ' | $14.70 |
REGULATORY_ACCOUNTING_Details
REGULATORY ACCOUNTING (Details) (USD $) | 9 Months Ended | |
Sep. 30, 2014 | Dec. 31, 2013 | |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | $3,687,100,000 | $4,294,500,000 |
Regulatory Assets Current | 445,962,000 | 535,791,000 |
Regulatory Assets Long Term | 3,241,122,000 | 3,758,694,000 |
Regulatory Assets And Liabilities Other Disclosures Abstract | ' | ' |
Amount of Regulatory Costs Not yet Approved | 64,700,000 | 65,100,000 |
Description Of Regulatory Costs Recently Approved | 'Storm Restoration Costs: On March 12, 2014, the PURA approved recovery of $365 million of deferred storm restoration costs (with carrying charges) associated with five major storms that occurred in 2011 and 2012. CL&P will recover these costs in its distribution rates over a six-year period beginning December 1, 2014. Effective June 1, 2014, CL&P received $65.4 million of DOE Phase II Damages proceeds. On June 17, 2014, the PURA ordered CL&P to refund these proceeds to customers by offsetting the deferred storm restoration costs regulatory asset. For further information on the DOE Phase II Damages proceeds received from the Yankee Companies, see Note 9C, "Commitments and Contingencies - Contractual Obligations - Yankee Companies," to the financial statements. | ' |
Description of Regulatory Assets and Liabilities | 'As a result of two FERC orders issued on June 19, 2014 in the pending base ROE complaint proceedings described in Note 9E, "Commitments and Contingencies – FERC Base ROE Complaints," in the second quarter of 2014 the Company had recorded a series of reserves at its electric subsidiaries to recognize the potential financial impact of these rulings. As of September 30, 2014, the cumulative pre-tax reserves (excluding interest) totaled $76.1 million at NU, $42.9 million at CL&P, $15.6 million at NSTAR Electric, $5.9 million at PSNH and $11.7 million at WMECO. As of December 31, 2013, as a result of the FERC ALJ initial decision in the third quarter of 2013, the Company had an aggregate pre-tax reserve (excluding interest) of $23.7 million at NU, $12.8 million at CL&P, $5.7 million at NSTAR Electric, $2.3 million at PSNH and $2.9 million at WMECO. These reserves were recorded in each electric subsidiary's respective transmission regulatory tracker mechanism and as a reduction of Operating Revenues. Effective June 1, 2014, as a result of damages awarded to the Yankee Companies for spent nuclear fuel lawsuits against the DOE described in Note 9C, "Commitments and Contingencies - Contractual Obligations - Yankee Companies," the Yankee Companies returned the DOE Phase II Damages proceeds to the member companies, including CL&P, NSTAR Electric, PSNH, and WMECO, for the benefit of their respective customers. CL&P's refund obligation to customers of $65.4 million was recorded as an offset to the deferred storm restoration costs regulatory asset, as directed by PURA. NSTAR Electric's, PSNH's and WMECO's refund obligation to customers of $29.1 million, $13.1 million and $18.1 million, respectively, was recorded as a regulatory liability in each electric subsidiary's respective regulatory tracker mechanisms. Refunds to customers for these DOE proceeds began in the third quarter of 2014. | ' |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities, Total | 908,900,000 | 707,300,000 |
Regulatory Liability Current | 398,985,000 | 204,278,000 |
Regulatory Liabilities Long-Term | 509,889,000 | 502,984,000 |
Cost Of Removal [Member] | ' | ' |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities, Total | 439,100,000 | 435,100,000 |
Regulatory Tracker Deferrals Regulatory Liabilities [Member] | ' | ' |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities, Total | 339,900,000 | 151,200,000 |
AFUDC Transmission Incentive [Member] | ' | ' |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities, Total | 67,200,000 | 68,100,000 |
Other Regulatory Liabilities [Member] | ' | ' |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities, Total | 62,700,000 | 52,900,000 |
The Connecticut Light And Power Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 1,485,500,000 | 1,814,000,000 |
Regulatory Assets Current | 116,531,000 | 150,943,000 |
Regulatory Assets Long Term | 1,369,025,000 | 1,663,147,000 |
Regulatory Assets And Liabilities Other Disclosures Abstract | ' | ' |
Amount of Regulatory Costs Not yet Approved | 3,200,000 | 7,300,000 |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities, Total | 283,400,000 | 187,800,000 |
Regulatory Liability Current | 195,663,000 | 93,961,000 |
Regulatory Liabilities Long-Term | 87,696,000 | 93,757,000 |
The Connecticut Light And Power Company [Member] | Cost Of Removal [Member] | ' | ' |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities, Total | 22,500,000 | 29,100,000 |
The Connecticut Light And Power Company [Member] | Regulatory Tracker Deferrals Regulatory Liabilities [Member] | ' | ' |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities, Total | 196,400,000 | 95,600,000 |
The Connecticut Light And Power Company [Member] | AFUDC Transmission Incentive [Member] | ' | ' |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities, Total | 53,900,000 | 54,700,000 |
The Connecticut Light And Power Company [Member] | Other Regulatory Liabilities [Member] | ' | ' |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities, Total | 10,600,000 | 8,400,000 |
NSTAR Electric Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 1,126,200,000 | 1,439,300,000 |
Regulatory Assets Current | 128,205,000 | 204,144,000 |
Regulatory Assets Long Term | 998,030,000 | 1,235,156,000 |
Regulatory Assets And Liabilities Other Disclosures Abstract | ' | ' |
Amount of Regulatory Costs Not yet Approved | 36,000,000 | 33,400,000 |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities, Total | 363,700,000 | 307,100,000 |
Regulatory Liability Current | 97,215,000 | 53,958,000 |
Regulatory Liabilities Long-Term | 266,524,000 | 253,108,000 |
NSTAR Electric Company [Member] | Cost Of Removal [Member] | ' | ' |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities, Total | 260,700,000 | 250,000,000 |
NSTAR Electric Company [Member] | Regulatory Tracker Deferrals Regulatory Liabilities [Member] | ' | ' |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities, Total | 67,300,000 | 21,900,000 |
NSTAR Electric Company [Member] | AFUDC Transmission Incentive [Member] | ' | ' |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities, Total | 4,100,000 | 4,100,000 |
NSTAR Electric Company [Member] | Other Regulatory Liabilities [Member] | ' | ' |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities, Total | 31,600,000 | 31,100,000 |
Public Service Company Of New Hampshire [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 280,700,000 | 311,500,000 |
Regulatory Assets Current | 102,473,000 | 92,194,000 |
Regulatory Assets Long Term | 178,204,000 | 219,346,000 |
Regulatory Assets And Liabilities Other Disclosures Abstract | ' | ' |
Amount of Regulatory Costs Not yet Approved | 0 | 0 |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities, Total | 79,800,000 | 72,300,000 |
Regulatory Liability Current | 29,165,000 | 20,643,000 |
Regulatory Liabilities Long-Term | 50,614,000 | 51,723,000 |
Public Service Company Of New Hampshire [Member] | Cost Of Removal [Member] | ' | ' |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities, Total | 49,200,000 | 49,700,000 |
Public Service Company Of New Hampshire [Member] | Regulatory Tracker Deferrals Regulatory Liabilities [Member] | ' | ' |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities, Total | 25,900,000 | 21,600,000 |
Public Service Company Of New Hampshire [Member] | Other Regulatory Liabilities [Member] | ' | ' |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities, Total | 4,700,000 | 1,000,000 |
Western Massachusetts Electric Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 148,600,000 | 189,100,000 |
Regulatory Assets Current | 38,907,000 | 43,024,000 |
Regulatory Assets Long Term | 109,690,000 | 146,088,000 |
Regulatory Assets And Liabilities Other Disclosures Abstract | ' | ' |
Amount of Regulatory Costs Not yet Approved | 11,200,000 | 10,100,000 |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities, Total | 53,800,000 | 33,800,000 |
Regulatory Liability Current | 43,462,000 | 19,858,000 |
Regulatory Liabilities Long-Term | 10,289,000 | 13,873,000 |
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 | 43,900,000 | 21,100,000 |
Western Massachusetts Electric Company [Member] | AFUDC Transmission Incentive [Member] | ' | ' |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities, Total | 9,200,000 | 9,300,000 |
Western Massachusetts Electric Company [Member] | Other Regulatory Liabilities [Member] | ' | ' |
Regulatory Liabilities [Line Items] | ' | ' |
Regulatory Liabilities, Total | 700,000 | 3,400,000 |
Benefit Costs [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 1,113,200,000 | 1,240,200,000 |
Benefit Costs [Member] | The Connecticut Light And Power Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 242,200,000 | 297,700,000 |
Benefit Costs [Member] | NSTAR Electric Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 318,100,000 | 496,700,000 |
Benefit Costs [Member] | Public Service Company Of New Hampshire [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 78,100,000 | 100,600,000 |
Benefit Costs [Member] | Western Massachusetts Electric Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 44,300,000 | 57,300,000 |
Regulatory Assets Offsetting Derivative Liabilities [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 427,500,000 | 638,000,000 |
Regulatory Assets Offsetting Derivative Liabilities [Member] | The Connecticut Light And Power Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 421,100,000 | 630,400,000 |
Regulatory Assets Offsetting Derivative Liabilities [Member] | NSTAR Electric Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 4,300,000 | 7,700,000 |
Regulatory Assets Offsetting Derivative Liabilities [Member] | Public Service Company Of New Hampshire [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 0 | 0 |
Regulatory Assets Offsetting Derivative Liabilities [Member] | Western Massachusetts Electric Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 0 | 0 |
Deferred Income Tax Charges Member | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 623,200,000 | 626,200,000 |
Deferred Income Tax Charges Member | The Connecticut Light And Power Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 427,400,000 | 415,500,000 |
Deferred Income Tax Charges Member | NSTAR Electric Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 83,300,000 | 84,000,000 |
Deferred Income Tax Charges Member | Public Service Company Of New Hampshire [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 38,300,000 | 40,300,000 |
Deferred Income Tax Charges Member | Western Massachusetts Electric Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 35,300,000 | 43,700,000 |
Storm Restoration Costs [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 493,500,000 | 589,600,000 |
Storm Restoration Costs [Member] | The Connecticut Light And Power Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 326,000,000 | 397,800,000 |
Storm Restoration Costs [Member] | NSTAR Electric Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 106,200,000 | 109,300,000 |
Storm Restoration Costs [Member] | Public Service Company Of New Hampshire [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 29,300,000 | 43,700,000 |
Storm Restoration Costs [Member] | Western Massachusetts Electric Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 32,000,000 | 38,800,000 |
Goodwill Regulatory Asset [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 510,500,000 | 525,900,000 |
Goodwill Regulatory Asset [Member] | NSTAR Electric Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 438,300,000 | 451,500,000 |
Regulatory Tracker Deferrals Regulatory Assets [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 235,700,000 | 323,400,000 |
Regulatory Tracker Deferrals Regulatory Assets [Member] | The Connecticut Light And Power Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 5,200,000 | 8,000,000 |
Regulatory Tracker Deferrals Regulatory Assets [Member] | NSTAR Electric Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 76,400,000 | 169,500,000 |
Regulatory Tracker Deferrals Regulatory Assets [Member] | Public Service Company Of New Hampshire [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 94,700,000 | 83,300,000 |
Regulatory Tracker Deferrals Regulatory Assets [Member] | Western Massachusetts Electric Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 23,500,000 | 32,600,000 |
Unrecovered Contractual Obligations [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 124,600,000 | 154,200,000 |
Power Contracts Buy Out Agreements [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 49,800,000 | 70,200,000 |
Power Contracts Buy Out Agreements [Member] | NSTAR Electric Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 45,400,000 | 64,700,000 |
Power Contracts Buy Out Agreements [Member] | Public Service Company Of New Hampshire [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 4,400,000 | 5,500,000 |
Other Regulatory Assets [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 109,100,000 | 126,800,000 |
Other Regulatory Assets [Member] | The Connecticut Light And Power Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 63,600,000 | 64,600,000 |
Other Regulatory Assets [Member] | NSTAR Electric Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 54,200,000 | 55,900,000 |
Other Regulatory Assets [Member] | Public Service Company Of New Hampshire [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | 35,900,000 | 38,100,000 |
Other Regulatory Assets [Member] | Western Massachusetts Electric Company [Member] | ' | ' |
Regulatory Asset [Line Items] | ' | ' |
Regulatory Assets, Total | $13,500,000 | $16,700,000 |
PROPERTY_PLANT_AND_ACCUMULATED2
PROPERTY, PLANT AND ACCUMULATED DEPRECIATION (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
Public Utility Property Plant And Equipment [Line Items] | ' | ' |
Public Utilities Property Plant And Equipment Distribution | $12,306,600,000 | $11,950,200,000 |
Public Utilities Property Plant And Equipment Distribution Natural Gas | 2,494,500,000 | 2,425,900,000 |
Public Utilities Property Plant And Equipment Transmission | 6,564,200,000 | 6,412,500,000 |
Public Utilities Property Plant And Equipment Generation Or Processing | 1,168,600,000 | 1,152,300,000 |
Public Utilities Property Plant And Equipment Electric And Natural Gas Utility Total | 22,533,900,000 | 21,940,900,000 |
Public Utilities Property Plant And Equipment Other Property Plant And Equipment | 541,700,000 | 508,700,000 |
Public Utilities Property Plant And Equipment Plant In Service | 23,075,600,000 | 22,449,600,000 |
Electric And Natural Gas Utility Accumulated Depreciation | -5,687,000,000 | -5,387,000,000 |
Other Accumulated Depreciation | -216,300,000 | -196,200,000 |
Public Utilities, Property, Plant and Equipment, Accumulated Depreciation | -5,903,300,000 | -5,583,200,000 |
Property Plant And Equipment Net Excluding Construction Work In Progress | 17,172,300,000 | 16,866,400,000 |
Public Utilities Property Plant And Equipment Construction Work In Progress | 1,082,300,000 | 709,800,000 |
Property, Plant and Equipment, Net | 18,254,610,000 | 17,576,186,000 |
The Connecticut Light And Power Company [Member] | ' | ' |
Public Utility Property Plant And Equipment [Line Items] | ' | ' |
Public Utilities Property Plant And Equipment Distribution | 5,104,800,000 | 4,930,700,000 |
Public Utilities Property Plant And Equipment Transmission | 3,125,200,000 | 3,071,900,000 |
Public Utilities Property Plant And Equipment Generation Or Processing | 0 | 0 |
Public Utilities Property Plant And Equipment Plant In Service | 8,230,000,000 | 8,002,600,000 |
Public Utilities, Property, Plant and Equipment, Accumulated Depreciation | -1,908,200,000 | -1,804,100,000 |
Property Plant And Equipment Net Excluding Construction Work In Progress | 6,321,800,000 | 6,198,500,000 |
Public Utilities Property Plant And Equipment Construction Work In Progress | 379,000,000 | 252,800,000 |
Property, Plant and Equipment, Net | 6,700,798,000 | 6,451,259,000 |
NSTAR Electric Company [Member] | ' | ' |
Public Utility Property Plant And Equipment [Line Items] | ' | ' |
Public Utilities Property Plant And Equipment Distribution | 4,812,400,000 | 4,694,700,000 |
Public Utilities Property Plant And Equipment Transmission | 1,824,600,000 | 1,772,300,000 |
Public Utilities Property Plant And Equipment Generation Or Processing | 0 | 0 |
Public Utilities Property Plant And Equipment Plant In Service | 6,637,000,000 | 6,467,000,000 |
Public Utilities, Property, Plant and Equipment, Accumulated Depreciation | -1,726,700,000 | -1,631,300,000 |
Property Plant And Equipment Net Excluding Construction Work In Progress | 4,910,300,000 | 4,835,700,000 |
Public Utilities Property Plant And Equipment Construction Work In Progress | 301,400,000 | 208,200,000 |
Property, Plant and Equipment, Net | 5,211,681,000 | 5,043,887,000 |
Public Service Company Of New Hampshire [Member] | ' | ' |
Public Utility Property Plant And Equipment [Line Items] | ' | ' |
Public Utilities Property Plant And Equipment Distribution | 1,654,500,000 | 1,608,200,000 |
Public Utilities Property Plant And Equipment Transmission | 715,800,000 | 695,700,000 |
Public Utilities Property Plant And Equipment Generation Or Processing | 1,134,700,000 | 1,131,200,000 |
Public Utilities Property Plant And Equipment Plant In Service | 3,505,000,000 | 3,435,100,000 |
Public Utilities, Property, Plant and Equipment, Accumulated Depreciation | -1,069,400,000 | -1,021,800,000 |
Property Plant And Equipment Net Excluding Construction Work In Progress | 2,435,600,000 | 2,413,300,000 |
Public Utilities Property Plant And Equipment Construction Work In Progress | 125,000,000 | 54,300,000 |
Property, Plant and Equipment, Net | 2,560,635,000 | 2,467,556,000 |
Western Massachusetts Electric Company [Member] | ' | ' |
Public Utility Property Plant And Equipment [Line Items] | ' | ' |
Public Utilities Property Plant And Equipment Distribution | 774,800,000 | 756,600,000 |
Public Utilities Property Plant And Equipment Transmission | 851,800,000 | 826,400,000 |
Public Utilities Property Plant And Equipment Generation Or Processing | 33,900,000 | 21,100,000 |
Public Utilities Property Plant And Equipment Plant In Service | 1,660,500,000 | 1,604,100,000 |
Public Utilities, Property, Plant and Equipment, Accumulated Depreciation | -291,800,000 | -271,500,000 |
Property Plant And Equipment Net Excluding Construction Work In Progress | 1,368,700,000 | 1,332,600,000 |
Public Utilities Property Plant And Equipment Construction Work In Progress | 63,700,000 | 48,500,000 |
Property, Plant and Equipment, Net | $1,432,368,000 | $1,381,060,000 |
DERIVATIVE_INSTURMENTS_Details
DERIVATIVE INSTURMENTS (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | |
Derivative Instrument Detail Abstract | ' | ' | ' | ' | ' |
Derivative Liabilities, Noncurrent | ($420,931,000) | ' | ($420,931,000) | ' | ($624,050,000) |
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, along with UI, has capacity-related contracts with generation facilities. 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 combined capacity of these contracts is 787 MW. 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 and a capacity-related contract to purchase up to 35 MW per year through 2019. As of September 30, 2014 and December 31, 2013, NU had NYMEX future contracts in order to reduce variability associated with the purchase price of approximately 9.7 million and 9.1 million MMBtu of natural gas, respectively. | ' | ' |
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net Abstract | ' | ' | ' | ' | ' |
Derivative Gain Loss On Derivative Net | ' | 200,000 | ' | 900,000 | ' |
Derivative Instruments Gain Loss Recognized In Regulatory Asset Liability | -15,700,000 | 300,000 | 149,900,000 | 48,800,000 | ' |
FairValueInputsQuantitativeInformation[Abstract] | ' | ' | ' | ' | ' |
FairValueInputsExitPricePremium | ' | ' | 'Exit price premiums of 8 percent through 25 percent are also applied on these contracts and reflect the most recent market activity available for similar type contracts. | ' | ' |
The Connecticut Light And Power Company [Member] | ' | ' | ' | ' | ' |
Derivative Instrument Detail Abstract | ' | ' | ' | ' | ' |
Derivative Liabilities - Current | -86,759,000 | ' | -86,759,000 | ' | -92,233,000 |
Derivative Liabilities, Noncurrent | -418,137,000 | ' | -418,137,000 | ' | -617,072,000 |
Fair Value Inputs Level 2 [Member] | ' | ' | ' | ' | ' |
Derivative Instrument Detail Abstract | ' | ' | ' | ' | ' |
Derivative Assets - Current | 400,000 | ' | 400,000 | ' | 1,600,000 |
Derivative Liabilities - Current | -2,000,000 | ' | -2,000,000 | ' | ' |
Derivative Assets Noncurrent | ' | ' | ' | ' | 200,000 |
Fair Value Inputs Level 3 [Member] | ' | ' | ' | ' | ' |
Derivative Instrument Detail Abstract | ' | ' | ' | ' | ' |
Derivative Assets - Current | 10,600,000 | ' | 10,600,000 | ' | 8,600,000 |
Derivative Liabilities - Current | -88,300,000 | ' | -88,300,000 | ' | -93,700,000 |
Derivative Liabilities, Noncurrent | -420,900,000 | ' | -420,900,000 | ' | -624,100,000 |
Derivative Assets Noncurrent | 75,100,000 | ' | 75,100,000 | ' | 74,000,000 |
Fair Value Inputs Level 3 [Member] | MinimumMember | ' | ' | ' | ' | ' |
FairValueInputsQuantitativeInformation[Abstract] | ' | ' | ' | ' | ' |
FairValueInputsCapacityPrices | 7.03 | ' | 7.03 | ' | 5.07 |
FairValueInputsEnergyPrices | 66 | ' | 66 | ' | 49 |
FairValueInputsRenewableEnergyCreditPrices | 41 | ' | 41 | ' | 36 |
FairValueInputsForwardReserve | 5.8 | ' | 5.8 | ' | 3.3 |
Fair Value Inputs Level 3 [Member] | MaximumMember | ' | ' | ' | ' | ' |
FairValueInputsQuantitativeInformation[Abstract] | ' | ' | ' | ' | ' |
FairValueInputsCapacityPrices | 12.98 | ' | 12.98 | ' | 11.82 |
FairValueInputsEnergyPrices | 68 | ' | 68 | ' | 77 |
FairValueInputsRenewableEnergyCreditPrices | 70 | ' | 70 | ' | 87 |
FairValueInputsForwardReserve | 9.5 | ' | 9.5 | ' | 3.3 |
Fair Value Inputs Level 3 [Member] | The Connecticut Light And Power Company [Member] | ' | ' | ' | ' | ' |
Derivative Instrument Detail Abstract | ' | ' | ' | ' | ' |
Derivative Assets - Current | 9,600,000 | ' | 9,600,000 | ' | 7,300,000 |
Derivative Liabilities - Current | -86,800,000 | ' | -86,800,000 | ' | -92,200,000 |
Derivative Liabilities, Noncurrent | -418,100,000 | ' | -418,100,000 | ' | -617,100,000 |
Derivative Assets Noncurrent | 74,200,000 | ' | 74,200,000 | ' | 71,400,000 |
Fair Value Inputs Level 3 [Member] | The Connecticut Light And Power Company [Member] | MinimumMember | ' | ' | ' | ' | ' |
FairValueInputsQuantitativeInformation[Abstract] | ' | ' | ' | ' | ' |
FairValueInputsCapacityPrices | 7.03 | ' | 7.03 | ' | 5.07 |
FairValueInputsEnergyPrices | 66 | ' | 66 | ' | 56 |
FairValueInputsForwardReserve | 5.8 | ' | 5.8 | ' | 3.3 |
Fair Value Inputs Level 3 [Member] | The Connecticut Light And Power Company [Member] | MaximumMember | ' | ' | ' | ' | ' |
FairValueInputsQuantitativeInformation[Abstract] | ' | ' | ' | ' | ' |
FairValueInputsCapacityPrices | 12.98 | ' | 12.98 | ' | 10.42 |
FairValueInputsEnergyPrices | 68 | ' | 68 | ' | 58 |
FairValueInputsForwardReserve | 9.5 | ' | 9.5 | ' | 3.3 |
Fair Value Inputs Level 3 [Member] | NSTAR Electric Company [Member] | ' | ' | ' | ' | ' |
Derivative Instrument Detail Abstract | ' | ' | ' | ' | ' |
Derivative Assets - Current | 1,000,000 | ' | 1,000,000 | ' | 1,200,000 |
Derivative Liabilities - Current | -1,500,000 | ' | -1,500,000 | ' | -1,500,000 |
Derivative Liabilities, Noncurrent | -2,800,000 | ' | -2,800,000 | ' | -7,000,000 |
Derivative Assets Noncurrent | 900,000 | ' | 900,000 | ' | ' |
Fair Value Inputs Level 3 [Member] | NSTAR Electric Company [Member] | MinimumMember | ' | ' | ' | ' | ' |
FairValueInputsQuantitativeInformation[Abstract] | ' | ' | ' | ' | ' |
FairValueInputsCapacityPrices | 11 | ' | 11 | ' | 5.07 |
FairValueInputsRenewableEnergyCreditPrices | 41 | ' | 41 | ' | 36 |
Fair Value Inputs Level 3 [Member] | NSTAR Electric Company [Member] | MaximumMember | ' | ' | ' | ' | ' |
FairValueInputsQuantitativeInformation[Abstract] | ' | ' | ' | ' | ' |
FairValueInputsCapacityPrices | 11.1 | ' | 11.1 | ' | 7.38 |
FairValueInputsRenewableEnergyCreditPrices | 70 | ' | 70 | ' | 70 |
Netting And Collateral [Member] | Fair Value Inputs Level 2 [Member] | ' | ' | ' | ' | ' |
Derivative Instrument Detail Abstract | ' | ' | ' | ' | ' |
Derivative Assets - Current | 0 | ' | 0 | ' | -300,000 |
Derivative Liabilities - Current | 400,000 | ' | 400,000 | ' | ' |
Netting And Collateral [Member] | Fair Value Inputs Level 3 [Member] | ' | ' | ' | ' | ' |
Derivative Instrument Detail Abstract | ' | ' | ' | ' | ' |
Derivative Assets - Current | -6,800,000 | ' | -6,800,000 | ' | -9,800,000 |
Derivative Assets Noncurrent | -20,900,000 | ' | -20,900,000 | ' | -42,200,000 |
Netting And Collateral [Member] | Fair Value Inputs Level 3 [Member] | The Connecticut Light And Power Company [Member] | ' | ' | ' | ' | ' |
Derivative Instrument Detail Abstract | ' | ' | ' | ' | ' |
Derivative Assets - Current | -6,800,000 | ' | -6,800,000 | ' | -9,800,000 |
Derivative Assets Noncurrent | -20,900,000 | ' | -20,900,000 | ' | -42,200,000 |
Commodity [Member] | Fair Value Inputs Level 2 [Member] | ' | ' | ' | ' | ' |
Derivative Instrument Detail Abstract | ' | ' | ' | ' | ' |
Derivative Assets - Current | 400,000 | ' | 400,000 | ' | 1,900,000 |
Derivative Liabilities - Current | -2,400,000 | ' | -2,400,000 | ' | ' |
Derivative Assets Noncurrent | ' | ' | ' | ' | 200,000 |
Commodity [Member] | Fair Value Inputs Level 3 [Member] | ' | ' | ' | ' | ' |
Derivative Instrument Detail Abstract | ' | ' | ' | ' | ' |
Derivative Assets - Current | 17,400,000 | ' | 17,400,000 | ' | 18,400,000 |
Derivative Liabilities - Current | -88,300,000 | ' | -88,300,000 | ' | -93,700,000 |
Derivative Liabilities, Noncurrent | -420,900,000 | ' | -420,900,000 | ' | -624,100,000 |
Derivative Assets Noncurrent | 96,000,000 | ' | 96,000,000 | ' | 116,200,000 |
Commodity [Member] | Fair Value Inputs Level 3 [Member] | The Connecticut Light And Power Company [Member] | ' | ' | ' | ' | ' |
Derivative Instrument Detail Abstract | ' | ' | ' | ' | ' |
Derivative Assets - Current | 16,400,000 | ' | 16,400,000 | ' | 17,100,000 |
Derivative Liabilities - Current | -86,800,000 | ' | -86,800,000 | ' | -92,200,000 |
Derivative Liabilities, Noncurrent | -418,100,000 | ' | -418,100,000 | ' | -617,100,000 |
Derivative Assets Noncurrent | 95,100,000 | ' | 95,100,000 | ' | 113,600,000 |
Commodity [Member] | Fair Value Inputs Level 3 [Member] | NSTAR Electric Company [Member] | ' | ' | ' | ' | ' |
Derivative Instrument Detail Abstract | ' | ' | ' | ' | ' |
Derivative Assets - Current | 1,000,000 | ' | 1,000,000 | ' | 1,200,000 |
Derivative Liabilities - Current | -1,500,000 | ' | -1,500,000 | ' | -1,500,000 |
Derivative Liabilities, Noncurrent | -2,800,000 | ' | -2,800,000 | ' | -7,000,000 |
Derivative Assets Noncurrent | $900,000 | ' | $900,000 | ' | ' |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ' | ' | ' | ' |
Beginning Balance | ($430.90) | ($788.10) | ($635.20) | ($878.60) |
Net Realized/Unrealized Gains Losses included in Net Income | 0 | 1.2 | ' | 8.3 |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Liability Gain Loss Included In Reg Asset Liability | -13.6 | 0.8 | 147.6 | 49.6 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements | 21 | 21.3 | 64.1 | 55.9 |
Ending Balance | -423.5 | -764.8 | -423.5 | -764.8 |
The Connecticut Light And Power Company [Member] | ' | ' | ' | ' |
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ' | ' | ' | ' |
Beginning Balance | -424.6 | -775.8 | -630.6 | -866.2 |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Liability Gain Loss Included In Reg Asset Liability | -15 | -1.2 | 149.4 | 45.1 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements | 18.5 | 21.7 | 60.1 | 65.8 |
Ending Balance | -421.1 | -755.3 | -421.1 | -755.3 |
NSTAR Electric Company [Member] | ' | ' | ' | ' |
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ' | ' | ' | ' |
Beginning Balance | -6.3 | -13.1 | -7.3 | -14.9 |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Liability Gain Loss Included In Reg Asset Liability | 1.4 | 0.5 | 0.9 | 0.6 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements | 2.5 | 1 | 4 | 2.7 |
Ending Balance | ($2.40) | ($11.60) | ($2.40) | ($11.60) |
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, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 |
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 | $58.20 | ' | $58.20 | ' | $57.20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investments, Debt and Equity Securities [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available For Sale Securities Fair Value Disclosure | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 318.2 | 299.6 | 58.1 | 57.9 | 232 | 224.1 |
Available-for-sale Securities, Gross Unrealized Gains | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.8 | 2.5 | 0.1 | 0 | 71.1 | 60.5 |
AvailableForSaleSecuritiesGrossUnrealizedLoss | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -0.2 | -2.1 | -0.1 | 0 | ' | ' |
Available For Sale Securities Amortized Cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 310.6 | 299.2 | 58.1 | 57.9 | 160.9 | 163.6 |
Marketable Securities, Restricted | 447.7 | ' | 447.7 | ' | 424 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available For Sale Securities Debt Maturities Fair Value Abstract | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value | 67.5 | ' | 67.5 | ' | ' | 1.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available For Sale Securities Debt Maturities After Ten Years Fair Value | 111.7 | ' | 111.7 | ' | ' | 4.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available For Sale Securities Debt Maturities After One Year Through Five Years Fair Value | 91.4 | ' | 91.4 | ' | ' | 30.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available For Sale Securities Debt Maturities Within One Year Fair Value | 47.6 | ' | 47.6 | ' | ' | 22.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available For Sale Securities Debt Maturities Fair Value | 318.2 | ' | 318.2 | ' | ' | 58.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available For Sale Securities Debt Maturities Amortized Cost Abstract | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost | 91 | ' | 91 | ' | ' | 30.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available For Sale Securities Debt Maturities Within One Year Amortized Cost | 47.6 | ' | 47.6 | ' | ' | 21.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available For Sale Securities Debt Maturities After Ten Years Amortized Cost | 106.4 | ' | 106.4 | ' | ' | 4.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost | 65.6 | ' | 65.6 | ' | ' | 1.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available For Sale Securities Debt Maturities Amortized Cost | 310.6 | ' | 310.6 | ' | ' | 58.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investments Fair Value Disclosure | 632.8 | ' | 632.8 | ' | 580.9 | 58.1 | 57.9 | 341.7 | 314.2 | 4.4 | 10.9 | 291.1 | 266.7 | 53.7 | 47 | 56.5 | 61.4 | 0 | 6.8 | 61.2 | 53.6 | 14.1 | 15.1 | 37.9 | 30.4 | 14.3 | 9 | 112.5 | 105.5 | 13.9 | 11.2 | 23 | 15.8 | 11.4 | 4.9 | 27.1 | 32.9 | 4.4 | 10.9 | 314.6 | 281.3 | ' | ' | ' | ' | ' | ' |
TradingSecuritiesEquity | 24.4 | ' | 24.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
IncreaseDecreaseInTradingSecurities | ($1.90) | $3 | $1.90 | $7.30 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
SHORT_TERM_AND_LONG_TERM_DEBT_
SHORT TERM AND LONG TERM DEBT (Details) (USD $) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2014 | Dec. 31, 2013 | |
Line of Credit Facility [Line Items] | ' | ' |
Line of Credit Facility, Remaining Borrowing Capacity | $485,500,000 | $435,500,000 |
Line of Credit Facility, Amount Outstanding | 964,500,000 | 1,010,000,000 |
Short-term Debt, Weighted Average Interest Rate | 0.25% | 0.24% |
Description of commercial paper program | 'Effective July 23, 2014, NU parent, CL&P, PSNH, WMECO, NSTAR Gas and Yankee Gas extended the expiration date of their joint $1.45 billion revolving credit facility for one additional year to September 6, 2019. The revolving credit facility is to be used primarily to backstop NU parent's $1.45 billion commercial paper program. The commercial paper program allows NU parent to issue commercial paper as a form of short-term debt. As of September 30, 2014 and December 31, 2013, NU had $964.5 million and $1.01 billion, respectively, in short-term borrowings outstanding under the NU parent commercial paper program, leaving $485.5 million and $435.5 million of available borrowing capacity as of September 30, 2014 and December 31, 2013, respectively. The weighted-average interest rate on these borrowings as of September 30, 2014 and December 31, 2013 was 0.25 percent and 0.24 percent, respectively, which is generally based on A2/P2 rated commercial paper. As of September 30, 2014, there were intercompany loans from NU of $105.4 million to CL&P, $153.3 million to PSNH and $13.2 million to WMECO. As of December 31, 2013, there were intercompany loans from NU of $287.3 million to CL&P and $86.5 million to PSNH. Effective July 23, 2014, NSTAR Electric extended the expiration date of its $450 million revolving credit facility for one additional year to September 6, 2019. This facility serves to backstop NSTAR Electric's existing $450 million commercial paper program. As of September 30, 2014 and December 31, 2013, NSTAR Electric had $159.5 million and $103.5 million, respectively, in short-term borrowings outstanding under its commercial paper program, leaving $290.5 million and $346.5 million of available borrowing capacity as of September 30, 2014 and December 31, 2013, respectively. The weighted-average interest rate on these borrowings as of September 30, 2014 and December 31, 2013 was 0.16 percent and 0.13 percent, respectively, which is generally based on A2/P1 rated commercial paper. | ' |
Notes Payable | 1,046,961,000 | 1,093,000,000 |
Long-term Debt, Description | 'On January 2, 2014, Yankee Gas issued $100 million of 4.82 percent Series L First Mortgage Bonds, due to mature in 2044. The proceeds, net of issuance costs, were used to repay the $75 million 4.80 percent Series G First Mortgage Bonds that matured on January 1, 2014 and to pay $25 million in short-term borrowings. As the debt issuance refinanced short-term debt, the short-term debt was classified as Long-Term Debt on NU's balance sheet as of December 31, 2013. On March 7, 2014, NSTAR Electric issued $300 million of 4.40 percent debentures, due to mature in 2044. The proceeds, net of issuance costs, were used to repay the $300 million of 4.875 percent debentures that matured on April 15, 2014. On April 24, 2014, CL&P issued $250 million of 4.30 percent 2014 Series A First Mortgage Bonds, due to mature in 2044. The proceeds, net of issuance costs, were used to repay short-term borrowings. On July 15, 2014, PSNH repaid at maturity the $50 million of 5.25 percent Series L First Mortgage Bonds using short-term borrowings. On September 15, 2014, CL&P repaid at maturity the $150 million of 4.80 percent 2004 Series A First Mortgage Bonds. On October 14, 2014, PSNH issued $75 million of first mortgage bonds at a yield of 3.144 percent that will mature on November 1, 2023. The first mortgage bonds are part of the same series of PSNH’s existing 3.50 percent Series S First Mortgage Bonds that were initially issued in November 2013. As a result, the aggregate principal amount of PSNH’s outstanding Series S First Mortgage Bonds totals $325 million. The proceeds, net of issuance costs, were used to repay short-term borrowings. As the debt issuance refinanced short-term debt, the short-term debt was classified as Long-Term Debt on NU's balance sheet as of September 30, 2014. | ' |
The Connecticut Light And Power Company [Member] | ' | ' |
Line of Credit Facility [Line Items] | ' | ' |
Notes Payable To Affiliated Companies | 105,400,000 | 287,300,000 |
NSTAR Electric Company [Member] | ' | ' |
Line of Credit Facility [Line Items] | ' | ' |
Line of Credit Facility, Remaining Borrowing Capacity | 290,500,000 | 346,500,000 |
Line of Credit Facility, Amount Outstanding | 159,500,000 | 103,500,000 |
WeightedAverageDiscountRatePercent | 0.16% | 0.13% |
Notes Payable | 159,500,000 | 103,500,000 |
Public Service Company Of New Hampshire [Member] | ' | ' |
Line of Credit Facility [Line Items] | ' | ' |
Notes Payable To Affiliated Companies | 153,300,000 | 86,500,000 |
Western Massachusetts Electric Company [Member] | ' | ' |
Line of Credit Facility [Line Items] | ' | ' |
Notes Payable To Affiliated Companies | $13,200,000 | $0 |
PENSION_BENEFITS_AND_POSTRETIR1
PENSION BENEFITS AND POSTRETIREMENT BENEFITS OTHER THAN PENSIONS (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | |
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | ' | ' | ' | ' | ' |
Accrued Pension, PBOP and SERP | $787,550,000 | ' | $787,550,000 | ' | $896,844,000 |
Pension Plans Defined Benefit Member | ' | ' | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ' | ' |
Defined Benefit Plan Service Cost | 19,100,000 | 25,600,000 | 60,700,000 | 76,700,000 | ' |
Defined Benefit Plan Interest Cost | 56,400,000 | 51,700,000 | 169,500,000 | 155,000,000 | ' |
Defined Benefit Plan, Expected Return on Plan Assets | -77,700,000 | -69,500,000 | -233,100,000 | -208,500,000 | ' |
Defined Benefit Plan, Amortization of Gains (Losses) | 31,700,000 | 52,400,000 | 96,500,000 | 158,100,000 | ' |
Defined Benefit Plan Amortization Of Prior Service Cost Credit | 1,100,000 | 1,100,000 | 3,300,000 | 3,000,000 | ' |
Defined Benefit Plan Net Periodic Benefit Cost | 30,600,000 | 61,300,000 | 96,900,000 | 184,300,000 | ' |
Amount Capitalized Defined Benefit Expense | 8,300,000 | 18,300,000 | 26,700,000 | 54,900,000 | ' |
PBOP Plan | ' | ' | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ' | ' |
Defined Benefit Plan Service Cost | 3,100,000 | 4,200,000 | 9,300,000 | 12,600,000 | ' |
Defined Benefit Plan Interest Cost | 12,400,000 | 11,800,000 | 37,100,000 | 35,400,000 | ' |
Defined Benefit Plan, Expected Return on Plan Assets | -15,800,000 | -13,900,000 | -47,400,000 | -41,600,000 | ' |
Defined Benefit Plan, Amortization of Gains (Losses) | 3,000,000 | 6,500,000 | 9,100,000 | 19,500,000 | ' |
Defined Benefit Plan Amortization Of Prior Service Cost Credit | -700,000 | -500,000 | -2,100,000 | -1,500,000 | ' |
Defined Benefit Plan Net Periodic Benefit Cost | 2,000,000 | 8,100,000 | 6,000,000 | 24,400,000 | ' |
Amount Capitalized Defined Benefit Expense | 1,100,000 | 2,600,000 | 1,900,000 | 7,600,000 | ' |
The Connecticut Light And Power Company [Member] | ' | ' | ' | ' | ' |
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | ' | ' | ' | ' | ' |
Accrued Pension, PBOP and SERP | 63,756,000 | ' | 63,756,000 | ' | 95,895,000 |
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 | 5,000,000 | 6,300,000 | 15,200,000 | 18,700,000 | ' |
Defined Benefit Plan Interest Cost | 12,500,000 | 12,100,000 | 38,100,000 | 36,300,000 | ' |
Defined Benefit Plan, Expected Return on Plan Assets | -18,700,000 | -18,400,000 | -56,700,000 | -55,400,000 | ' |
Defined Benefit Plan, Amortization of Gains (Losses) | 8,200,000 | 13,900,000 | 25,500,000 | 42,000,000 | ' |
Defined Benefit Plan Amortization Of Prior Service Cost Credit | 400,000 | 400,000 | 1,400,000 | 1,400,000 | ' |
Defined Benefit Plan Net Periodic Benefit Cost | 7,400,000 | 14,300,000 | 23,500,000 | 43,000,000 | ' |
Related Intercompany Allocationsof Defined Benefit Expense | 6,500,000 | 11,400,000 | 20,800,000 | 33,600,000 | ' |
Amount Capitalized Defined Benefit Expense | 4,300,000 | 7,000,000 | 13,600,000 | 21,000,000 | ' |
The Connecticut Light And Power Company [Member] | PBOP Plan | ' | ' | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ' | ' |
Defined Benefit Plan Service Cost | 600,000 | 900,000 | 1,700,000 | 2,600,000 | ' |
Defined Benefit Plan Interest Cost | 2,000,000 | 2,000,000 | 6,000,000 | 5,900,000 | ' |
Defined Benefit Plan, Expected Return on Plan Assets | -2,600,000 | -2,500,000 | -7,900,000 | -7,600,000 | ' |
Defined Benefit Plan, Amortization of Gains (Losses) | 1,000,000 | 1,800,000 | 3,200,000 | 5,600,000 | ' |
Defined Benefit Plan Amortization Of Prior Service Cost Credit | ' | ' | 0 | ' | ' |
Defined Benefit Plan Net Periodic Benefit Cost | 1,000,000 | 2,200,000 | 3,000,000 | 6,500,000 | ' |
Related Intercompany Allocationsof Defined Benefit Expense | 900,000 | 1,700,000 | 3,100,000 | 5,300,000 | ' |
Amount Capitalized Defined Benefit Expense | 500,000 | 1,300,000 | 1,500,000 | 3,700,000 | ' |
NSTAR Electric Company [Member] | ' | ' | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ' | ' |
Defined Benefit Plan Net Periodic Benefit Cost | ' | 1,200,000 | ' | ' | ' |
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | ' | ' | ' | ' | ' |
Accrued Pension, PBOP and SERP | 142,249,000 | ' | 142,249,000 | ' | 118,010,000 |
NSTAR Electric Company [Member] | Pension Plans Defined Benefit Member | ' | ' | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ' | ' |
Defined Benefit Plan Service Cost | 3,000,000 | 8,300,000 | 10,600,000 | 24,800,000 | ' |
Defined Benefit Plan Interest Cost | 10,300,000 | 14,500,000 | 31,000,000 | 43,500,000 | ' |
Defined Benefit Plan, Expected Return on Plan Assets | -15,700,000 | -21,100,000 | -47,300,000 | -63,300,000 | ' |
Defined Benefit Plan, Amortization of Gains (Losses) | 5,900,000 | 14,400,000 | 17,600,000 | 43,600,000 | ' |
Defined Benefit Plan Amortization Of Prior Service Cost Credit | 0 | 0 | 0 | -200,000 | ' |
Defined Benefit Plan Net Periodic Benefit Cost | 3,500,000 | 16,100,000 | 11,900,000 | 48,400,000 | ' |
Related Intercompany Allocationsof Defined Benefit Expense | 2,900,000 | -2,100,000 | 6,700,000 | -6,200,000 | ' |
Amount Capitalized Defined Benefit Expense | 2,600,000 | 9,800,000 | 5,500,000 | 21,600,000 | ' |
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | ' | ' | ' | ' | ' |
Defined Benefit Plan, Funded Status of Plan | ' | 83,400,000 | ' | 83,400,000 | 118,000,000 |
NSTAR Electric Company [Member] | PBOP Plan | ' | ' | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ' | ' |
Defined Benefit Plan Service Cost | 800,000 | ' | 2,300,000 | ' | ' |
Defined Benefit Plan Interest Cost | 4,900,000 | ' | 14,600,000 | ' | ' |
Defined Benefit Plan, Expected Return on Plan Assets | -6,500,000 | ' | -19,500,000 | ' | ' |
Defined Benefit Plan, Amortization of Gains (Losses) | -100,000 | ' | -400,000 | ' | ' |
Defined Benefit Plan Amortization Of Prior Service Cost Credit | -500,000 | ' | -1,400,000 | ' | ' |
Defined Benefit Plan Net Periodic Benefit Cost | -1,400,000 | 1,200,000 | -4,400,000 | 3,500,000 | ' |
Related Intercompany Allocationsof Defined Benefit Expense | 300,000 | ' | 400,000 | ' | ' |
Amount Capitalized Defined Benefit Expense | -500,000 | ' | -1,500,000 | ' | ' |
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | ' | ' | ' | ' | ' |
Defined Benefit Plan, Funded Status of Plan | 55,600,000 | ' | 55,600,000 | ' | ' |
NSTAR Electric Company [Member] | Supplemental Employee Retirement Plans, Defined Benefit [Member] | ' | ' | ' | ' | ' |
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | ' | ' | ' | ' | ' |
Pension and Other Postretirement Defined Benefit Plans, Current Liabilities | -400,000 | ' | -400,000 | ' | ' |
Defined Benefit Plan, Funded Status of Plan | 3,600,000 | ' | 3,600,000 | ' | ' |
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 | 2,300,000 | 3,300,000 | 7,400,000 | 9,800,000 | ' |
Defined Benefit Plan Interest Cost | 5,700,000 | 5,800,000 | 18,000,000 | 17,800,000 | ' |
Defined Benefit Plan, Expected Return on Plan Assets | -9,300,000 | -9,200,000 | -28,800,000 | -26,200,000 | ' |
Defined Benefit Plan, Amortization of Gains (Losses) | 2,800,000 | 5,400,000 | 8,900,000 | 16,200,000 | ' |
Defined Benefit Plan Amortization Of Prior Service Cost Credit | 100,000 | 100,000 | 500,000 | 400,000 | ' |
Defined Benefit Plan Net Periodic Benefit Cost | 1,600,000 | 5,400,000 | 6,000,000 | 18,000,000 | ' |
Related Intercompany Allocationsof Defined Benefit Expense | 1,800,000 | 2,600,000 | 6,000,000 | 7,800,000 | ' |
Amount Capitalized Defined Benefit Expense | 700,000 | 1,700,000 | 2,400,000 | 5,600,000 | ' |
Public Service Company Of New Hampshire [Member] | PBOP Plan | ' | ' | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ' | ' |
Defined Benefit Plan Service Cost | 300,000 | 600,000 | 1,000,000 | 1,700,000 | ' |
Defined Benefit Plan Interest Cost | 1,100,000 | 1,000,000 | 3,200,000 | 3,100,000 | ' |
Defined Benefit Plan, Expected Return on Plan Assets | -1,400,000 | -1,300,000 | -4,100,000 | -3,900,000 | ' |
Defined Benefit Plan, Amortization of Gains (Losses) | 600,000 | 900,000 | 1,700,000 | 2,700,000 | ' |
Defined Benefit Plan Amortization Of Prior Service Cost Credit | ' | ' | 0 | ' | ' |
Defined Benefit Plan Net Periodic Benefit Cost | 600,000 | 1,200,000 | 1,800,000 | 3,600,000 | ' |
Related Intercompany Allocationsof Defined Benefit Expense | 200,000 | 400,000 | 800,000 | 1,200,000 | ' |
Amount Capitalized Defined Benefit Expense | 200,000 | 400,000 | 600,000 | 1,100,000 | ' |
Western Massachusetts Electric Company [Member] | Pension Plans Defined Benefit Member | ' | ' | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ' | ' |
Defined Benefit Plan Service Cost | 800,000 | 1,200,000 | 2,700,000 | 3,500,000 | ' |
Defined Benefit Plan Interest Cost | 2,500,000 | 2,500,000 | 7,800,000 | 7,500,000 | ' |
Defined Benefit Plan, Expected Return on Plan Assets | -4,400,000 | -4,300,000 | -13,500,000 | -13,000,000 | ' |
Defined Benefit Plan, Amortization of Gains (Losses) | 1,700,000 | 2,900,000 | 5,200,000 | 8,900,000 | ' |
Defined Benefit Plan Amortization Of Prior Service Cost Credit | 100,000 | 100,000 | 300,000 | 300,000 | ' |
Defined Benefit Plan Net Periodic Benefit Cost | 700,000 | 2,400,000 | 2,500,000 | 7,200,000 | ' |
Related Intercompany Allocationsof Defined Benefit Expense | 1,200,000 | 2,000,000 | 3,900,000 | 6,000,000 | ' |
Amount Capitalized Defined Benefit Expense | 600,000 | 1,300,000 | 2,000,000 | 3,900,000 | ' |
Western Massachusetts Electric Company [Member] | PBOP Plan | ' | ' | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' | ' | ' |
Defined Benefit Plan Service Cost | 100,000 | 200,000 | 300,000 | 500,000 | ' |
Defined Benefit Plan Interest Cost | 400,000 | 400,000 | 1,300,000 | 1,300,000 | ' |
Defined Benefit Plan, Expected Return on Plan Assets | -600,000 | -600,000 | -1,700,000 | -1,700,000 | ' |
Defined Benefit Plan, Amortization of Gains (Losses) | 100,000 | 300,000 | 300,000 | 800,000 | ' |
Defined Benefit Plan Amortization Of Prior Service Cost Credit | ' | ' | 0 | ' | ' |
Defined Benefit Plan Net Periodic Benefit Cost | 0 | 300,000 | 200,000 | 900,000 | ' |
Related Intercompany Allocationsof Defined Benefit Expense | 200,000 | 300,000 | 600,000 | 1,000,000 | ' |
Amount Capitalized Defined Benefit Expense | $0 | $300,000 | $100,000 | $700,000 | ' |
INCOME_TAXES_Details
INCOME TAXES (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | ' | ' | ' | ' |
Total Deferred Income Taxes | ' | ' | $64,755 | $334,225 |
Income Tax Expense | 126,539 | 109,351 | 345,858 | 325,442 |
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract] | ' | ' | ' | ' |
Income Before Income Tax Expense | 363,032 | 320,731 | 949,434 | 939,855 |
Income Tax Expense | 126,539 | 109,351 | 345,858 | 325,442 |
The Connecticut Light And Power Company [Member] | ' | ' | ' | ' |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | ' | ' | ' | ' |
Total Deferred Income Taxes | ' | ' | -14,400 | 89,084 |
Income Tax Expense | 30,038 | 36,136 | 95,980 | 113,149 |
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract] | ' | ' | ' | ' |
Income Before Income Tax Expense | 113,914 | 102,459 | 296,540 | 332,337 |
Income Tax Expense | 30,038 | 36,136 | 95,980 | 113,149 |
Other Tax Disclosures [Abstract] | ' | ' | ' | ' |
Other Information Pertaining To Income Taxes | ' | ' | 'In the third quarter of 2014, the Company recorded a reduction to its state credit carryforwards of $11 million (CL&P $10.1 million), net of tax, as a result of an update to reflect the amounts expired. Further, the Company decreased its valuation allowance reserve for state credits by $22.3 million (all at CL&P), net of tax, to reflect the expiration of state credits in its recently filed return and the latest available data. These updates resulted in a net reduction in income tax expense of $11.3 million (CL&P $12.2 million). | ' |
NSTAR Electric Company [Member] | ' | ' | ' | ' |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | ' | ' | ' | ' |
Total Deferred Income Taxes | ' | ' | -39,399 | 26,358 |
Income Tax Expense | 76,975 | 68,558 | 156,655 | 137,499 |
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract] | ' | ' | ' | ' |
Income Before Income Tax Expense | 192,549 | 175,567 | 390,446 | 350,661 |
Income Tax Expense | 76,975 | 68,558 | 156,655 | 137,499 |
Public Service Company Of New Hampshire [Member] | ' | ' | ' | ' |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | ' | ' | ' | ' |
Total Deferred Income Taxes | ' | ' | 67,827 | 57,066 |
Income Tax Expense | 17,603 | 18,196 | 52,199 | 52,797 |
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract] | ' | ' | ' | ' |
Income Before Income Tax Expense | 45,839 | 46,549 | 137,154 | 137,340 |
Income Tax Expense | 17,603 | 18,196 | 52,199 | 52,797 |
Western Massachusetts Electric Company [Member] | ' | ' | ' | ' |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | ' | ' | ' | ' |
Total Deferred Income Taxes | ' | ' | 13,479 | 79,401 |
Income Tax Expense | 10,490 | 8,588 | 26,596 | 30,424 |
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract] | ' | ' | ' | ' |
Income Before Income Tax Expense | 25,155 | 23,613 | 66,381 | 80,465 |
Income Tax Expense | $10,490 | $8,588 | $26,596 | $30,424 |
Environmental_Matters_Details
Environmental Matters (Details) (USD $) | 9 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 |
Site Contingency [Line Items] | ' | ' |
Environmental Site Quantity | 65 | 68 |
Accrual for Environmental Loss Contingencies [Roll Forward] | ' | ' |
Beginning Balance | $35.40 | ' |
Ending Balance | 34.7 | 35.4 |
MGP Site accrual [Member] | ' | ' |
Accrual for Environmental Loss Contingencies [Roll Forward] | ' | ' |
Ending Balance | 29.8 | 31.4 |
The Connecticut Light And Power Company [Member] | ' | ' |
Site Contingency [Line Items] | ' | ' |
Environmental Site Quantity | 16 | 18 |
Accrual for Environmental Loss Contingencies [Roll Forward] | ' | ' |
Beginning Balance | 3.4 | ' |
Ending Balance | 4 | 3.4 |
NSTAR Electric Company [Member] | ' | ' |
Site Contingency [Line Items] | ' | ' |
Environmental Site Quantity | 13 | 12 |
Accrual for Environmental Loss Contingencies [Roll Forward] | ' | ' |
Beginning Balance | 1.2 | ' |
Ending Balance | 1.1 | 1.2 |
Public Service Company Of New Hampshire [Member] | ' | ' |
Site Contingency [Line Items] | ' | ' |
Environmental Site Quantity | 13 | 15 |
Accrual for Environmental Loss Contingencies [Roll Forward] | ' | ' |
Beginning Balance | 5.4 | ' |
Ending Balance | 5.3 | 5.4 |
Western Massachusetts Electric Company [Member] | ' | ' |
Site Contingency [Line Items] | ' | ' |
Environmental Site Quantity | 4 | 5 |
Accrual for Environmental Loss Contingencies [Roll Forward] | ' | ' |
Beginning Balance | 0.4 | ' |
Ending Balance | $0.50 | $0.40 |
LongTerm_Contractual_Arrangeme1
Long-Term Contractual Arrangements (Details) (Renewable Energy Contracts [Member], USD $) | Sep. 30, 2014 |
In Millions, unless otherwise specified | |
The Connecticut Light And Power Company [Member] | ' |
Long-term Purchase Commitment [Line Items] | ' |
Unrecorded Unconditional Purchase Obligation, Due within One Year | $20 |
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 60.7 |
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 66.1 |
Unrecorded Unconditional Purchase Obligation, Due within Four Years | 67 |
Unrecorded Unconditional Purchase Obligation, Due within Five Years | 67.7 |
Unrecorded Unconditional Purchase Obligation, Due after Five Years | 717 |
Unrecorded Unconditional Purchase Obligation, Total | 998.5 |
NSTAR Electric Company [Member] | ' |
Long-term Purchase Commitment [Line Items] | ' |
Unrecorded Unconditional Purchase Obligation, Due within One Year | 21.8 |
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 86.3 |
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 100 |
Unrecorded Unconditional Purchase Obligation, Due within Four Years | 96.1 |
Unrecorded Unconditional Purchase Obligation, Due within Five Years | 59.6 |
Unrecorded Unconditional Purchase Obligation, Due after Five Years | 377.6 |
Unrecorded Unconditional Purchase Obligation, Total | 741.4 |
Western Massachusetts Electric Company [Member] | ' |
Long-term Purchase Commitment [Line Items] | ' |
Unrecorded Unconditional Purchase Obligation, Due within One Year | 0 |
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 0 |
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 2.4 |
Unrecorded Unconditional Purchase Obligation, Due within Four Years | 2.4 |
Unrecorded Unconditional Purchase Obligation, Due within Five Years | 2.4 |
Unrecorded Unconditional Purchase Obligation, Due after Five Years | 28.9 |
Unrecorded Unconditional Purchase Obligation, Total | $36.10 |
Contractual_Obligations_with_Y
Contractual Obligations with Yankee Companies (Details) (USD $) | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
Loss Contingency, Information about Litigation Matters [Abstract] | ' | ' | ' |
Court of Federal Claims Ruling To CYAPC | ' | ' | $126.30 |
Court Of Federal Claims Ruling To YAEC | ' | ' | 73.3 |
Court Of Federal Claims Ruling To MYAPC | ' | ' | 35.8 |
Connecticut Yankee Proceeds Received | 90 | 36.3 | ' |
Yankee Atomic Proceeds Received | 73.3 | ' | ' |
Maine Yankee Proceeds Received | $35.80 | ' | ' |
Refund Obligation To Customers | 'As of September 30, 2014, CL&P's refund obligation to customers of $65.4 million was recorded as an offset to the deferred storm restoration costs regulatory asset, as directed by PURA. NSTAR Electric's, PSNH's and WMECO's refund obligation to customers of $29.1 million, $13.1 million and $18.1 million, respectively, was recorded as a regulatory liability in each company's respective regulatory tracker mechanisms. Refunds to customers for these DOE proceeds began in the third quarter of 2014. For further information, see Note 2, "Regulatory Accounting," to the financial statements. | ' | ' |
MYAPC Phase One Damages Proceeds To Member Companies | 'DOE Phase I Damages - Proceeds Received – On September 17, 2014, in accordance with the MYAPC refund plan, MYAPC returned a portion of the DOE Phase I Damages proceeds to the member companies, including CL&P, NSTAR Electric, PSNH, and WMECO, in the amount of $3.2 million, $1.1 million, $1.4 million and $0.8 million, respectively. These amounts reduced receivables at CL&P, NSTAR Electric, PSNH and WMECO. | ' | ' |
Guarantees_and_Indemnification1
Guarantees and Indemnifications (Details) (USD $) | Sep. 30, 2014 |
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 2014 And 2016 [Member] | ' |
Guarantee Obligations [Line Items] | ' |
Guarantee Obligations Maximum Exposure | 64.3 |
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 | 15.3 |
Guarantee Of Debt Of Ne Hydros [Member] | ' |
Guarantee Obligations [Line Items] | ' |
Guarantee Obligations Maximum Exposure | $2 |
Other_Contingencies_Details
Other Contingencies (Details) (USD $) | Sep. 30, 2014 | Jun. 30, 2014 | Sep. 30, 2013 |
In Millions, unless otherwise specified | |||
FERC ROE Reserve - First Complaint - Base ROE [Member] | ' | ' | ' |
Loss Contingencies Line Items | ' | ' | ' |
Loss Contingency Estimate Of Possible Loss | $24.90 | $1.20 | $23.70 |
FERC ROE Reserve - First Complaint - Base ROE [Member] | The Connecticut Light And Power Company [Member] | ' | ' | ' |
Loss Contingencies Line Items | ' | ' | ' |
Loss Contingency Estimate Of Possible Loss | 13.3 | 0.5 | 12.8 |
FERC ROE Reserve - First Complaint - Base ROE [Member] | NSTAR Electric Company [Member] | ' | ' | ' |
Loss Contingencies Line Items | ' | ' | ' |
Loss Contingency Estimate Of Possible Loss | 6.1 | 0.4 | 5.7 |
FERC ROE Reserve - First Complaint - Base ROE [Member] | Public Service Company Of New Hampshire [Member] | ' | ' | ' |
Loss Contingencies Line Items | ' | ' | ' |
Loss Contingency Estimate Of Possible Loss | 2.4 | 0.1 | 2.3 |
FERC ROE Reserve - First Complaint - Base ROE [Member] | Western Massachusetts Electric Company [Member] | ' | ' | ' |
Loss Contingencies Line Items | ' | ' | ' |
Loss Contingency Estimate Of Possible Loss | 3.1 | 0.2 | 2.9 |
FERC ROE Reserve - Second Complaint - Base ROE [Member] | ' | ' | ' |
Loss Contingencies Line Items | ' | ' | ' |
Loss Contingency Estimate Of Possible Loss | 27.4 | 27.4 | ' |
FERC ROE Reserve - Second Complaint - Base ROE [Member] | The Connecticut Light And Power Company [Member] | ' | ' | ' |
Loss Contingencies Line Items | ' | ' | ' |
Loss Contingency Estimate Of Possible Loss | 13.5 | 13.5 | ' |
FERC ROE Reserve - Second Complaint - Base ROE [Member] | NSTAR Electric Company [Member] | ' | ' | ' |
Loss Contingencies Line Items | ' | ' | ' |
Loss Contingency Estimate Of Possible Loss | 7.5 | 7.5 | ' |
FERC ROE Reserve - Second Complaint - Base ROE [Member] | Public Service Company Of New Hampshire [Member] | ' | ' | ' |
Loss Contingencies Line Items | ' | ' | ' |
Loss Contingency Estimate Of Possible Loss | 2.7 | 2.7 | ' |
FERC ROE Reserve - Second Complaint - Base ROE [Member] | Western Massachusetts Electric Company [Member] | ' | ' | ' |
Loss Contingencies Line Items | ' | ' | ' |
Loss Contingency Estimate Of Possible Loss | 3.7 | 3.7 | ' |
FERC ROE Reserve - Incentive - First and Second Complaint [Member] | ' | ' | ' |
Loss Contingencies Line Items | ' | ' | ' |
Loss Contingency Estimate Of Possible Loss | 23.8 | 23.8 | ' |
FERC ROE Reserve - Incentive - First and Second Complaint [Member] | The Connecticut Light And Power Company [Member] | ' | ' | ' |
Loss Contingencies Line Items | ' | ' | ' |
Loss Contingency Estimate Of Possible Loss | 16.1 | 16.1 | ' |
FERC ROE Reserve - Incentive - First and Second Complaint [Member] | NSTAR Electric Company [Member] | ' | ' | ' |
Loss Contingencies Line Items | ' | ' | ' |
Loss Contingency Estimate Of Possible Loss | 2 | 2 | ' |
FERC ROE Reserve - Incentive - First and Second Complaint [Member] | Public Service Company Of New Hampshire [Member] | ' | ' | ' |
Loss Contingencies Line Items | ' | ' | ' |
Loss Contingency Estimate Of Possible Loss | 0.8 | 0.8 | ' |
FERC ROE Reserve - Incentive - First and Second Complaint [Member] | Western Massachusetts Electric Company [Member] | ' | ' | ' |
Loss Contingencies Line Items | ' | ' | ' |
Loss Contingency Estimate Of Possible Loss | 4.9 | 4.9 | ' |
FERC ROE Reserve - Cumulative [Member] | ' | ' | ' |
Loss Contingencies Line Items | ' | ' | ' |
Loss Contingency Estimate Of Possible Loss | 76.1 | 52.4 | 23.7 |
FERC ROE Reserve - Cumulative [Member] | The Connecticut Light And Power Company [Member] | ' | ' | ' |
Loss Contingencies Line Items | ' | ' | ' |
Loss Contingency Estimate Of Possible Loss | 42.9 | 30.1 | 12.8 |
FERC ROE Reserve - Cumulative [Member] | NSTAR Electric Company [Member] | ' | ' | ' |
Loss Contingencies Line Items | ' | ' | ' |
Loss Contingency Estimate Of Possible Loss | 15.6 | 9.9 | 5.7 |
FERC ROE Reserve - Cumulative [Member] | Public Service Company Of New Hampshire [Member] | ' | ' | ' |
Loss Contingencies Line Items | ' | ' | ' |
Loss Contingency Estimate Of Possible Loss | 5.9 | 3.6 | 2.3 |
FERC ROE Reserve - Cumulative [Member] | Western Massachusetts Electric Company [Member] | ' | ' | ' |
Loss Contingencies Line Items | ' | ' | ' |
Loss Contingency Estimate Of Possible Loss | 11.7 | 8.8 | 2.9 |
FERC ROE Reserve - Cumulative - After Tax Charge [Member] | ' | ' | ' |
Loss Contingencies Line Items | ' | ' | ' |
Loss Contingency Estimate Of Possible Loss | ' | 32.1 | 14.3 |
FERC ROE Reserve - Cumulative - After Tax Charge [Member] | The Connecticut Light And Power Company [Member] | ' | ' | ' |
Loss Contingencies Line Items | ' | ' | ' |
Loss Contingency Estimate Of Possible Loss | ' | 18.5 | 7.7 |
FERC ROE Reserve - Cumulative - After Tax Charge [Member] | NSTAR Electric Company [Member] | ' | ' | ' |
Loss Contingencies Line Items | ' | ' | ' |
Loss Contingency Estimate Of Possible Loss | ' | 6.1 | 3.4 |
FERC ROE Reserve - Cumulative - After Tax Charge [Member] | Public Service Company Of New Hampshire [Member] | ' | ' | ' |
Loss Contingencies Line Items | ' | ' | ' |
Loss Contingency Estimate Of Possible Loss | ' | 2 | 1.4 |
FERC ROE Reserve - Cumulative - After Tax Charge [Member] | Western Massachusetts Electric Company [Member] | ' | ' | ' |
Loss Contingencies Line Items | ' | ' | ' |
Loss Contingency Estimate Of Possible Loss | ' | $5.50 | $1.80 |
FAIR_VALUE_OF_FINANCIAL_INSTRU2
FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ' | ' |
Temporary Equity, Carrying Amount, Attributable to Noncontrolling Interest | $155,568,000 | $155,568,000 |
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 |
Other Long Term Debt | 8,412,600,000 | 8,310,200,000 |
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 | 151,000,000 | 152,700,000 |
Other Long Term Debt | 8,876,300,000 | 8,443,100,000 |
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 | 2,841,800,000 | 2,741,200,000 |
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 | 110,100,000 | 110,500,000 |
Other Long Term Debt | 3,189,500,000 | 2,952,800,000 |
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 |
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 |
Other Long Term Debt | 1,797,400,000 | 1,801,100,000 |
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 | 40,900,000 | 42,200,000 |
Other Long Term Debt | 1,959,400,000 | 1,888,000,000 |
Public Service Company Of New Hampshire [Member] | Carrying Reported Amount Fair Value Disclosure [Member] | ' | ' |
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ' | ' |
Other Long Term Debt | 999,200,000 | 1,049,000,000 |
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] | ' | ' |
Other Long Term Debt | 1,046,400,000 | 1,073,900,000 |
Western Massachusetts Electric Company [Member] | Carrying Reported Amount Fair Value Disclosure [Member] | ' | ' |
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ' | ' |
Other Long Term Debt | 628,700,000 | 629,400,000 |
Western Massachusetts Electric Company [Member] | Estimate Of Fair Value Fair Value Disclosure [Member] | ' | ' |
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ' | ' |
Other Long Term Debt | $667,400,000 | $640,100,000 |
ACCUMULATED_OTHER_COMPREHENSIV2
ACCUMULATED OTHER COMPREHENSIVE INCOME (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Accumulated Other Comprehensive Income Loss Net Of Tax RollForward [Abstract] | ' | ' | ' | ' |
AOCI Beginning Balance | ' | ' | ($46,031,000) | ($72,900,000) |
Other Comprehensive Income Before Reclassifications, Net of Tax | ' | ' | 1,400,000 | -800,000 |
Reclassification From OCI, Net Of Tax | ' | ' | 4,400,000 | 6,300,000 |
Other Comprehensive Income (Loss), Net of Tax, Total | 1,335,000 | 2,082,000 | 5,859,000 | 5,467,000 |
AOCI Ending Balance | -40,172,000 | -67,400,000 | -40,172,000 | -67,400,000 |
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Abstract] | ' | ' | ' | ' |
Total Interest Expense | -89,738,000 | -87,476,000 | -272,208,000 | -250,583,000 |
Income Tax Expense | -126,539,000 | -109,351,000 | -345,858,000 | -325,442,000 |
Net Income Attributable to Controlling Interests | 234,614,000 | 209,501,000 | 597,937,000 | 608,610,000 |
The Connecticut Light And Power Company [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income Loss Net Of Tax RollForward [Abstract] | ' | ' | ' | ' |
AOCI Beginning Balance | ' | ' | -1,387,000 | ' |
Other Comprehensive Income (Loss), Net of Tax, Total | 104,000 | 110,000 | 341,000 | 306,000 |
AOCI Ending Balance | -1,046,000 | ' | -1,046,000 | ' |
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Abstract] | ' | ' | ' | ' |
Total Interest Expense | -38,735,000 | -35,284,000 | -110,448,000 | -98,964,000 |
Income Tax Expense | -30,038,000 | -36,136,000 | -95,980,000 | -113,149,000 |
Public Service Company Of New Hampshire [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income Loss Net Of Tax RollForward [Abstract] | ' | ' | ' | ' |
AOCI Beginning Balance | ' | ' | -8,550,000 | ' |
Other Comprehensive Income (Loss), Net of Tax, Total | 277,000 | 288,000 | 885,000 | 822,000 |
AOCI Ending Balance | -7,665,000 | ' | -7,665,000 | ' |
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Abstract] | ' | ' | ' | ' |
Total Interest Expense | -11,024,000 | -10,866,000 | -33,995,000 | -34,181,000 |
Income Tax Expense | -17,603,000 | -18,196,000 | -52,199,000 | -52,797,000 |
Western Massachusetts Electric Company [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income Loss Net Of Tax RollForward [Abstract] | ' | ' | ' | ' |
AOCI Beginning Balance | ' | ' | -3,517,000 | ' |
Other Comprehensive Income (Loss), Net of Tax, Total | 83,000 | 85,000 | 256,000 | 246,000 |
AOCI Ending Balance | -3,261,000 | ' | -3,261,000 | ' |
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Abstract] | ' | ' | ' | ' |
Total Interest Expense | -6,576,000 | -6,231,000 | -18,929,000 | -18,800,000 |
Income Tax Expense | -10,490,000 | -8,588,000 | -26,596,000 | -30,424,000 |
Qualified Cash Flow Hedging Instruments [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income Loss Net Of Tax RollForward [Abstract] | ' | ' | ' | ' |
AOCI Beginning Balance | ' | ' | -14,400,000 | -16,400,000 |
Reclassification From OCI, Net Of Tax | ' | ' | 1,500,000 | 1,500,000 |
Other Comprehensive Income (Loss), Net of Tax, Total | ' | ' | 1,500,000 | 1,500,000 |
AOCI Ending Balance | -12,900,000 | -14,900,000 | -12,900,000 | -14,900,000 |
Unrealized Gains Losses on Available for Sale Securities [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income Loss Net Of Tax RollForward [Abstract] | ' | ' | ' | ' |
AOCI Beginning Balance | ' | ' | 400,000 | 1,300,000 |
Other Comprehensive Income Before Reclassifications, Net of Tax | ' | ' | 200,000 | -800,000 |
Other Comprehensive Income (Loss), Net of Tax, Total | ' | ' | 200,000 | -800,000 |
AOCI Ending Balance | 600,000 | 500,000 | 600,000 | 500,000 |
Pension, SERP and PBOP Benefit Plans [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income Loss Net Of Tax RollForward [Abstract] | ' | ' | ' | ' |
AOCI Beginning Balance | ' | ' | -32,000,000 | -57,800,000 |
Other Comprehensive Income Before Reclassifications, Net of Tax | ' | ' | 1,200,000 | ' |
Reclassification From OCI, Net Of Tax | ' | ' | 2,900,000 | 4,800,000 |
Other Comprehensive Income (Loss), Net of Tax, Total | ' | ' | 4,100,000 | 4,800,000 |
AOCI Ending Balance | -27,900,000 | -53,000,000 | -27,900,000 | -53,000,000 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' |
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net Income Attributable to Controlling Interests | -1,500,000 | -2,100,000 | -4,400,000 | -6,300,000 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Qualified Cash Flow Hedging Instruments [Member] | ' | ' | ' | ' |
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Abstract] | ' | ' | ' | ' |
Total Interest Expense | -800,000 | -800,000 | -2,500,000 | -2,500,000 |
Income Tax Expense | 300,000 | 300,000 | 1,000,000 | 1,000,000 |
Net Income Attributable to Controlling Interests | -500,000 | -500,000 | -1,500,000 | -1,500,000 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Pension, SERP and PBOP Benefit Plans [Member] | ' | ' | ' | ' |
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Abstract] | ' | ' | ' | ' |
OCI Reclassification Adjustment for Net Actuarial Gain (Loss), before Tax | -1,600,000 | -2,500,000 | -4,700,000 | -7,300,000 |
OCI Reclassification Adjustment for Amortization of Prior Service Cost, before tax | 0 | 0 | -100,000 | -100,000 |
OCI Reclassification Adjustment for Pension, SERP and PBOP Plans, before Tax | -1,600,000 | -2,500,000 | -4,800,000 | -7,400,000 |
Income Tax Expense | 600,000 | 900,000 | 1,900,000 | 2,600,000 |
Net Income Attributable to Controlling Interests | ($1,000,000) | ($1,600,000) | ($2,900,000) | ($4,800,000) |
COMMON_SHARES_Details
COMMON SHARES (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
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 | 333,353,446 | 333,113,492 |
Treasury Stock Shares | 16,730,815 | 17,796,672 |
Common Stock, Shares, Outstanding | 316,622,631 | 315,273,559 |
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, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Shareholders' Equity, Beginning Balance | ' | ' | $9,611,528,000 | ' |
Net Income | 236,493,000 | 211,380,000 | 603,576,000 | 614,413,000 |
Dividends on Common Shares | ' | ' | 0 | ' |
Issuance of Common Shares | ' | ' | 0 | ' |
Other Transcations, Net | 0 | ' | 0 | ' |
Net Income Attributable to Noncontrolling Interests | 1,879,000 | 1,879,000 | 5,639,000 | 5,803,000 |
Other Comprehensive Income (Loss), Net of Tax | 1,335,000 | 2,082,000 | 5,859,000 | 5,467,000 |
Shareholders' Equity, Ending Balance | 9,890,552,000 | ' | 9,890,552,000 | ' |
Common Shareholders Equity [Member] | ' | ' | ' | ' |
Shareholders' Equity, Beginning Balance | 9,753,800,000 | 9,406,600,000 | 9,611,500,000 | 9,237,100,000 |
Net Income | 236,500,000 | 211,400,000 | 603,600,000 | 614,400,000 |
Dividends on Common Shares | -124,200,000 | -114,900,000 | -372,200,000 | -346,900,000 |
Dividends on Preferred Stock | -1,900,000 | -1,900,000 | -5,600,000 | -5,800,000 |
Issuance of Common Shares | 1,000,000 | 1,400,000 | 6,400,000 | 10,200,000 |
Other Transcations, Net | 24,100,000 | 12,800,000 | 41,000,000 | 3,000,000 |
Net Income Attributable to Noncontrolling Interests | ' | ' | 0 | 0 |
Other Comprehensive Income (Loss), Net of Tax | 1,300,000 | 2,100,000 | 5,900,000 | 5,500,000 |
Shareholders' Equity, Ending Balance | 9,890,600,000 | 9,517,500,000 | 9,890,600,000 | 9,517,500,000 |
Noncontrolling Interest Member | ' | ' | ' | ' |
Net Income | ' | ' | ' | 0 |
Dividends on Common Shares | ' | ' | ' | 0 |
Issuance of Common Shares | ' | ' | ' | 0 |
Other Transcations, Net | ' | ' | ' | 0 |
Preferred Stock Member | ' | ' | ' | ' |
Shareholders' Equity, Beginning Balance | 155,600,000 | 155,600,000 | 155,600,000 | 155,600,000 |
Net Income | ' | ' | 0 | ' |
Dividends on Preferred Stock | -1,900,000 | -1,900,000 | -5,600,000 | -5,800,000 |
Net Income Attributable to Noncontrolling Interests | 1,900,000 | 1,900,000 | 5,600,000 | 5,800,000 |
Shareholders' Equity, Ending Balance | $155,600,000 | $155,600,000 | $155,600,000 | $155,600,000 |
EARNINGS_PER_SHARE_Details
EARNINGS PER SHARE (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Notes To Consolidated Financial Statements [Abstract] | ' | ' | ' | ' |
Net Income Attributable to Controlling Interests | $234,614 | $209,501 | $597,937 | $608,610 |
Basic | 316,340,691 | 315,291,346 | 315,941,904 | 315,191,752 |
Weighted Average Number Diluted Shares Outstanding Adjustment | 1,214,234 | 926,893 | 1,244,586 | 869,379 |
Diluted | 317,554,925 | 316,218,239 | 317,186,490 | 316,061,131 |
Earnings Per Share Basic And Diluted | $0.74 | $0.66 | $1.89 | $1.93 |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount | 0 | 0 | 0 | 2,100 |
SEGMENT_INFORMATION_Details
SEGMENT INFORMATION (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Operating Revenues | $1,892,532,000 | $1,892,590,000 | $5,860,736,000 | $5,523,475,000 | ' |
Operating Income | 440,910,000 | 399,262,000 | 1,202,588,000 | 1,168,783,000 | ' |
Total Interest Expense | -89,738,000 | -87,476,000 | -272,208,000 | -250,583,000 | ' |
Other Income/(Loss), Net | 11,860,000 | 8,945,000 | 19,054,000 | 21,655,000 | ' |
Income Tax Expense | -126,539,000 | -109,351,000 | -345,858,000 | -325,442,000 | ' |
Net Income | 236,493,000 | 211,380,000 | 603,576,000 | 614,413,000 | ' |
Net Income Attributable to Noncontrolling Interests | -1,879,000 | -1,879,000 | -5,639,000 | -5,803,000 | ' |
Net Income Attributable to Controlling Interests | 234,614,000 | 209,501,000 | 597,937,000 | 608,610,000 | ' |
Total Assets | 27,982,311,000 | ' | 27,982,311,000 | ' | 27,795,537,000 |
Investments in Property, Plant and Equipment | ' | ' | 1,117,493,000 | 1,073,759,000 | ' |
Electric Distribution Member | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Operating Revenues | 1,502,600,000 | 1,508,600,000 | 4,350,400,000 | 4,104,400,000 | ' |
Depreciation And Amortization | -71,700,000 | -159,600,000 | -309,900,000 | -488,700,000 | ' |
Operating Expenses, Other | -1,141,500,000 | -1,064,100,000 | -3,343,900,000 | -2,952,400,000 | ' |
Operating Income | 289,400,000 | 284,900,000 | 696,600,000 | 663,300,000 | ' |
Total Interest Expense | -49,200,000 | -44,300,000 | -143,800,000 | -129,900,000 | ' |
Other Income/(Loss), Net | 9,300,000 | 5,500,000 | 13,600,000 | 12,600,000 | ' |
Net Income Attributable to Controlling Interests | 153,400,000 | 156,900,000 | 349,100,000 | 347,500,000 | ' |
Total Assets | 16,702,300,000 | ' | 16,702,300,000 | ' | 17,260,000,000 |
Investments in Property, Plant and Equipment | ' | ' | 480,100,000 | 501,900,000 | ' |
Natural Gas Distribution [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Operating Revenues | 109,200,000 | 97,100,000 | 737,500,000 | 613,000,000 | ' |
Depreciation And Amortization | -16,400,000 | -16,400,000 | -51,100,000 | -50,500,000 | ' |
Operating Expenses, Other | -98,400,000 | -89,400,000 | -586,200,000 | -483,600,000 | ' |
Operating Income | -5,600,000 | -8,700,000 | 100,200,000 | 78,900,000 | ' |
Total Interest Expense | -8,500,000 | -8,600,000 | -25,600,000 | -24,800,000 | ' |
Other Income/(Loss), Net | 100,000 | 500,000 | 200,000 | 700,000 | ' |
Net Income Attributable to Controlling Interests | -9,900,000 | -10,400,000 | 44,200,000 | 34,100,000 | ' |
Total Assets | 2,801,100,000 | ' | 2,801,100,000 | ' | 2,759,700,000 |
Investments in Property, Plant and Equipment | ' | ' | 120,600,000 | 91,200,000 | ' |
Transmission [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Operating Revenues | 262,500,000 | 234,100,000 | 721,400,000 | 721,500,000 | ' |
Depreciation And Amortization | -37,400,000 | -34,500,000 | -111,400,000 | -100,900,000 | ' |
Operating Expenses, Other | -74,200,000 | -73,400,000 | -211,500,000 | -199,100,000 | ' |
Operating Income | 150,900,000 | 126,200,000 | 398,500,000 | 421,500,000 | ' |
Total Interest Expense | -24,500,000 | -26,600,000 | -78,800,000 | -73,700,000 | ' |
Other Income/(Loss), Net | 2,700,000 | 2,900,000 | 6,900,000 | 8,500,000 | ' |
Net Income Attributable to Controlling Interests | 88,100,000 | 58,600,000 | 206,800,000 | 215,400,000 | ' |
Total Assets | 7,404,500,000 | ' | 7,404,500,000 | ' | 6,745,800,000 |
Investments in Property, Plant and Equipment | ' | ' | 469,900,000 | 458,200,000 | ' |
Other Segment [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Operating Revenues | 211,200,000 | 212,500,000 | 568,100,000 | 650,400,000 | ' |
Depreciation And Amortization | -13,800,000 | -11,200,000 | -28,300,000 | -52,000,000 | ' |
Operating Expenses, Other | -192,400,000 | -206,800,000 | -534,100,000 | -599,000,000 | ' |
Operating Income | 5,000,000 | -5,500,000 | 5,700,000 | -600,000 | ' |
Total Interest Expense | -8,600,000 | -9,200,000 | -27,200,000 | -26,300,000 | ' |
Other Income/(Loss), Net | 226,400,000 | 312,100,000 | 657,900,000 | 866,200,000 | ' |
Net Income Attributable to Controlling Interests | 228,300,000 | 313,100,000 | 653,400,000 | 868,700,000 | ' |
Total Assets | 12,270,200,000 | ' | 12,270,200,000 | ' | 11,842,400,000 |
Investments in Property, Plant and Equipment | ' | ' | 46,900,000 | 22,500,000 | ' |
Eliminations Segment [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Operating Revenues | -193,000,000 | -159,700,000 | -516,700,000 | -565,800,000 | ' |
Depreciation And Amortization | 8,600,000 | 2,600,000 | 12,700,000 | 7,200,000 | ' |
Operating Expenses, Other | 185,600,000 | 159,500,000 | 505,600,000 | 564,300,000 | ' |
Operating Income | 1,200,000 | 2,400,000 | 1,600,000 | 5,700,000 | ' |
Total Interest Expense | 1,000,000 | 1,200,000 | 3,200,000 | 4,100,000 | ' |
Other Income/(Loss), Net | -226,600,000 | -312,100,000 | -659,500,000 | -866,300,000 | ' |
Net Income Attributable to Controlling Interests | -225,300,000 | -308,700,000 | -655,600,000 | -857,100,000 | ' |
Total Assets | -11,195,800,000 | ' | -11,195,800,000 | ' | -10,812,400,000 |
Investments in Property, Plant and Equipment | ' | ' | 0 | 0 | ' |
Total [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Operating Revenues | 1,892,500,000 | 1,892,600,000 | 5,860,700,000 | 5,523,500,000 | ' |
Depreciation And Amortization | -130,700,000 | -219,100,000 | -488,000,000 | -684,900,000 | ' |
Operating Expenses, Other | -1,320,900,000 | -1,274,200,000 | -4,170,100,000 | -3,669,800,000 | ' |
Operating Income | 440,900,000 | 399,300,000 | 1,202,600,000 | 1,168,800,000 | ' |
Total Interest Expense | -89,800,000 | -87,500,000 | -272,200,000 | -250,600,000 | ' |
Other Income/(Loss), Net | 11,900,000 | 8,900,000 | 19,100,000 | 21,700,000 | ' |
Net Income Attributable to Controlling Interests | 234,600,000 | 209,500,000 | 597,900,000 | 608,600,000 | ' |
Total Assets | 27,982,300,000 | ' | 27,982,300,000 | ' | 27,795,500,000 |
Investments in Property, Plant and Equipment | ' | ' | $1,117,500,000 | $1,073,800,000 | ' |