DOCUMENT_AND_ENTITY_INFORMATIO
DOCUMENT AND ENTITY INFORMATION (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Jan. 31, 2015 | Jun. 30, 2014 | |
Document And Entity [Line Items] | |||
Entity Registrant Name | NORTHEAST UTILITIES | ||
Document Period End Date | 31-Dec-14 | ||
Document Type | 10-K | ||
Entity Central Index Key | 72741 | ||
Current Fiscal Year End Date | -19 | ||
Entity Common Stock, Shares Outstanding | 317,203,765 | ||
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 | 23426 | ||
Current Fiscal Year End Date | -19 | ||
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 | 315256 | ||
Current Fiscal Year End Date | -19 | ||
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 | 106170 | ||
Current Fiscal Year End Date | -19 | ||
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 | 13372 | ||
Current Fiscal Year End Date | -19 | ||
Entity Filer Category | Non-accelerated Filer |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current Assets: | ||
Cash | $38,703 | $43,364 |
Receivables, Net | 856,346 | 765,391 |
Unbilled Revenues | 211,758 | 224,982 |
Taxes Receivable | 337,307 | 16,629 |
Fuel, Materials and Supplies | 349,664 | 303,233 |
Regulatory Assets Current | 672,493 | 535,791 |
Prepayments and Other Current Assets | 226,194 | 197,659 |
Total Current Assets | 2,692,465 | 2,087,049 |
Property, Plant and Equipment, Net | 18,647,041 | 17,576,186 |
Deferred Debits and Other Assets: | ||
Regulatory Assets Long Term | 4,054,086 | 3,758,694 |
Goodwill | 3,519,401 | 3,519,401 |
Marketable Securities | 515,025 | 488,515 |
Other Long-Term Assets | 349,957 | 365,692 |
Total Deferred Debits and Other Assets | 8,438,469 | 8,132,302 |
Total Assets | 29,777,975 | 27,795,537 |
Current Liabilities: | ||
Notes Payable | 956,825 | 1,093,000 |
Long-Term Debt - Current Portion | 245,583 | 533,346 |
Accounts Payable - Current | 868,231 | 742,251 |
Regulatory Liability Current | 235,022 | 204,278 |
Other Liabilities - Current | 828,720 | 702,776 |
Total Current Liabilities | 3,134,381 | 3,275,651 |
Deferred Credits and Other Liabilities: | ||
Accumulated Deferred Income Taxes | 4,467,473 | 4,029,026 |
Regulatory Liabilities Long-Term | 515,144 | 502,984 |
Long-Term Derivative Liabilities | 409,632 | 624,050 |
Accrued Pension, PBOP and SERP | 1,638,558 | 896,844 |
Other Long-Term Liabilities | 874,387 | 923,053 |
Total Deferred Credits and Other Liabilities | 7,905,194 | 6,975,957 |
Capitalization: | ||
Long-Term Debt | 8,606,017 | 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 | 1,666,796 | 1,665,351 |
Capital Surplus, Paid In | 6,235,834 | 6,192,765 |
Retained Earnings | 2,448,661 | 2,125,980 |
Accumulated Other Comprehensive Loss | -74,009 | -46,031 |
Treasury Stock | -300,467 | -326,537 |
Common Shareholders' Equity | 9,976,815 | 9,611,528 |
Total Capitalization | 18,738,400 | 17,543,929 |
Total Liabilities and Capitalization | 29,777,975 | 27,795,537 |
The Connecticut Light And Power Company [Member] | ||
Current Assets: | ||
Cash | 2,356 | 7,237 |
Receivables, Net | 355,140 | 319,670 |
Accounts Receivable from Affiliated Companies | 16,757 | 13,777 |
Unbilled Revenues | 102,137 | 92,401 |
Taxes Receivable | 116,148 | 20,041 |
Regulatory Assets Current | 220,344 | 150,943 |
Materials and Supplies | 46,664 | 54,606 |
Prepayments and Other Current Assets | 37,822 | 33,041 |
Total Current Assets | 897,368 | 691,716 |
Property, Plant and Equipment, Net | 6,809,664 | 6,451,259 |
Deferred Debits and Other Assets: | ||
Regulatory Assets Long Term | 1,475,508 | 1,663,147 |
Other Long-Term Assets | 177,568 | 174,380 |
Total Deferred Debits and Other Assets | 1,653,076 | 1,837,527 |
Total Assets | 9,360,108 | 8,980,502 |
Current Liabilities: | ||
Notes Payable To Affiliated Companies | 133,400 | 287,300 |
Long-Term Debt - Current Portion | 162,000 | 150,000 |
Accounts Payable - Current | 272,971 | 201,047 |
Accounts Payable to Affiliated Companies | 65,594 | 56,531 |
Obligations to Third Party Suppliers | 73,624 | 73,914 |
Regulatory Liability Current | 124,722 | 93,961 |
Derivative Liabilities - Current | 88,459 | 92,233 |
Other Liabilities - Current | 153,420 | 134,716 |
Total Current Liabilities | 1,074,190 | 1,089,702 |
Deferred Credits and Other Liabilities: | ||
Accumulated Deferred Income Taxes | 1,642,805 | 1,510,586 |
Regulatory Liabilities Long-Term | 81,298 | 93,757 |
Long-Term Derivative Liabilities | 406,199 | 617,072 |
Accrued Pension, PBOP and SERP | 273,854 | 95,895 |
Other Long-Term Liabilities | 148,844 | 163,588 |
Total Deferred Credits and Other Liabilities | 2,553,000 | 2,480,898 |
Capitalization: | ||
Long-Term Debt | 2,679,951 | 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 | 1,804,869 | 1,682,047 |
Retained Earnings | 1,072,477 | 961,482 |
Accumulated Other Comprehensive Loss | -931 | -1,387 |
Common Shareholders' Equity | 2,936,767 | 2,702,494 |
Total Capitalization | 5,732,918 | 5,409,902 |
Total Liabilities and Capitalization | 9,360,108 | 8,980,502 |
NSTAR Electric Company [Member] | ||
Current Assets: | ||
Cash | 12,773 | 8,021 |
Receivables, Net | 234,481 | 209,711 |
Accounts Receivable from Affiliated Companies | 40,353 | 27,264 |
Unbilled Revenues | 29,741 | 41,368 |
Taxes Receivable | 144,601 | 25,590 |
Regulatory Assets Current | 198,710 | 204,144 |
Materials and Supplies | 74,179 | 44,236 |
Prepayments and Other Current Assets | 10,815 | 11,120 |
Total Current Assets | 745,653 | 571,454 |
Property, Plant and Equipment, Net | 5,335,436 | 5,043,887 |
Deferred Debits and Other Assets: | ||
Regulatory Assets Long Term | 1,179,100 | 1,235,156 |
Other Long-Term Assets | 73,051 | 60,624 |
Total Deferred Debits and Other Assets | 1,252,151 | 1,295,780 |
Total Assets | 7,333,240 | 6,911,121 |
Current Liabilities: | ||
Notes Payable | 302,000 | 103,500 |
Long-Term Debt - Current Portion | 4,700 | 301,650 |
Accounts Payable - Current | 217,311 | 202,100 |
Accounts Payable to Affiliated Companies | 63,517 | 75,707 |
Deferred Tax Liabilities Current | 55,136 | 50,128 |
Regulatory Liability Current | 49,611 | 53,958 |
Other Liabilities - Current | 186,513 | 123,869 |
Total Current Liabilities | 878,788 | 910,912 |
Deferred Credits and Other Liabilities: | ||
Accumulated Deferred Income Taxes | 1,527,667 | 1,466,835 |
Regulatory Liabilities Long-Term | 262,738 | 253,108 |
Accrued Pension, PBOP and SERP | 235,529 | 118,010 |
Other Long-Term Liabilities | 129,279 | 206,386 |
Total Deferred Credits and Other Liabilities | 2,155,213 | 2,044,339 |
Capitalization: | ||
Long-Term Debt | 1,792,712 | 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 | 994,130 | 992,625 |
Retained Earnings | 1,468,955 | 1,420,828 |
Accumulated Other Comprehensive Loss | 442 | |
Common Shareholders' Equity | 2,463,527 | 2,413,453 |
Total Capitalization | 4,299,239 | 3,955,870 |
Total Liabilities and Capitalization | 7,333,240 | 6,911,121 |
Public Service Company Of New Hampshire [Member] | ||
Current Assets: | ||
Cash | 489 | 130 |
Receivables, Net | 80,151 | 76,331 |
Accounts Receivable from Affiliated Companies | 3,194 | 90 |
Unbilled Revenues | 40,181 | 38,344 |
Fuel, Materials and Supplies | 148,139 | 128,736 |
Regulatory Assets Current | 111,705 | 92,194 |
Prepayments and Other Current Assets | 42,392 | 24,100 |
Total Current Assets | 426,251 | 359,925 |
Property, Plant and Equipment, Net | 2,635,844 | 2,467,556 |
Deferred Debits and Other Assets: | ||
Regulatory Assets Long Term | 293,115 | 219,346 |
Other Long-Term Assets | 39,228 | 39,891 |
Total Deferred Debits and Other Assets | 332,343 | 259,237 |
Total Assets | 3,394,438 | 3,086,718 |
Current Liabilities: | ||
Notes Payable To Affiliated Companies | 90,500 | 86,500 |
Long-Term Debt - Current Portion | 0 | 50,000 |
Accounts Payable - Current | 93,349 | 82,920 |
Accounts Payable to Affiliated Companies | 33,734 | 22,040 |
Deferred Tax Liabilities Current | 36,164 | 28,596 |
Regulatory Liability Current | 16,044 | 20,643 |
Other Liabilities - Current | 38,969 | 51,729 |
Total Current Liabilities | 308,760 | 342,428 |
Deferred Credits and Other Liabilities: | ||
Accumulated Deferred Income Taxes | 587,292 | 500,166 |
Regulatory Liabilities Long-Term | 51,372 | 51,723 |
Accrued Pension, PBOP and SERP | 93,243 | 15,272 |
Other Long-Term Liabilities | 50,155 | 46,247 |
Total Deferred Credits and Other Liabilities | 782,062 | 613,408 |
Capitalization: | ||
Long-Term Debt | 1,076,286 | 999,006 |
Common Shareholders' Equity: | ||
Common Stock | 0 | 0 |
Capital Surplus, Paid In | 748,240 | 701,911 |
Retained Earnings | 486,459 | 438,515 |
Accumulated Other Comprehensive Loss | -7,369 | -8,550 |
Common Shareholders' Equity | 1,227,330 | 1,131,876 |
Total Capitalization | 2,303,616 | 2,130,882 |
Total Liabilities and Capitalization | 3,394,438 | 3,086,718 |
Western Massachusetts Electric Company [Member] | ||
Current Assets: | ||
Receivables, Net | 51,066 | 49,018 |
Accounts Receivable from Affiliated Companies | 7,851 | 47,607 |
Unbilled Revenues | 15,146 | 16,562 |
Taxes Receivable | 18,126 | 432 |
Regulatory Assets Current | 51,923 | 43,024 |
Marketable Securities - Current | 28,658 | 26,628 |
Prepayments and Other Current Assets | 7,607 | 10,479 |
Total Current Assets | 180,377 | 193,750 |
Property, Plant and Equipment, Net | 1,461,321 | 1,381,060 |
Deferred Debits and Other Assets: | ||
Regulatory Assets Long Term | 146,307 | 146,088 |
Marketable Securities | 29,452 | 31,243 |
Other Long-Term Assets | 22,018 | 40,679 |
Total Deferred Debits and Other Assets | 197,777 | 218,010 |
Total Assets | 1,839,475 | 1,792,820 |
Current Liabilities: | ||
Notes Payable To Affiliated Companies | 21,400 | 0 |
Long-Term Debt - Current Portion | 50,000 | 0 |
Accounts Payable - Current | 53,732 | 62,961 |
Accounts Payable to Affiliated Companies | 14,328 | 9,230 |
Accrued Interest | 7,526 | 7,525 |
Deferred Tax Liabilities Current | 18,089 | 13,098 |
Regulatory Liability Current | 22,486 | 19,858 |
Counterparty Deposit | 3,376 | 7,688 |
Other Liabilities - Current | 13,178 | 20,629 |
Total Current Liabilities | 204,115 | 140,989 |
Deferred Credits and Other Liabilities: | ||
Accumulated Deferred Income Taxes | 416,822 | 396,933 |
Regulatory Liabilities Long-Term | 10,835 | 13,873 |
Accrued Pension, PBOP and SERP | 17,705 | 3,911 |
Other Long-Term Liabilities | 33,747 | 28,619 |
Total Deferred Credits and Other Liabilities | 479,109 | 443,336 |
Capitalization: | ||
Long-Term Debt | 578,471 | 629,389 |
Common Shareholders' Equity: | ||
Common Stock | 10,866 | 10,866 |
Capital Surplus, Paid In | 391,256 | 390,743 |
Retained Earnings | 178,834 | 181,014 |
Accumulated Other Comprehensive Loss | -3,176 | -3,517 |
Common Shareholders' Equity | 577,780 | 579,106 |
Total Capitalization | 1,156,251 | 1,208,495 |
Total Liabilities and Capitalization | $1,839,475 | $1,792,820 |
CONSOLIDATED_STATEMENTS_OF_INC
CONSOLIDATED STATEMENTS OF INCOME (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Operating Revenues | $7,741,856 | $7,301,204 | $6,273,787 |
Operating Expenses: | |||
Purchased Power and Transmission | 3,021,550 | 2,482,954 | 2,084,364 |
Operations and Maintenance | 1,427,589 | 1,514,986 | 1,583,070 |
Depreciation | 614,657 | 610,777 | 519,010 |
Amortization of Regulatory Assets/(Liabilities), Net | 10,704 | 206,322 | 79,762 |
Amortization of Rate Reduction Bonds | 0 | 42,581 | 142,019 |
Energy Efficiency Programs | 473,127 | 401,919 | 313,149 |
Taxes Other Than Income Taxes | 561,380 | 512,230 | 434,207 |
Total Operating Expenses | 6,109,007 | 5,771,769 | 5,155,581 |
Operating Income | 1,632,849 | 1,529,435 | 1,118,206 |
Interest Expense: | |||
Interest on Long-Term Debt | 345,001 | 340,970 | 316,987 |
Interest on Rate Reduction Bonds | 0 | 422 | 6,168 |
Other Interest | 17,105 | -2,693 | 6,790 |
Total Interest Expense | 362,106 | 338,699 | 329,945 |
Other Income/(Loss), Net | 24,619 | 29,894 | 19,742 |
Income Before Income Tax Expense | 1,295,362 | 1,220,630 | 808,003 |
Income Tax Expense | 468,297 | 426,941 | 274,926 |
Net Income | 827,065 | 793,689 | 533,077 |
Net Income Attributable to Noncontrolling Interests | 7,519 | 7,682 | 7,132 |
Net Income Attributable to Controlling Interests | 819,546 | 786,007 | 525,945 |
Basic Earnings Per Common Share | $2.59 | $2.49 | $1.90 |
Diluted Earnings Per Common Share | $2.58 | $2.49 | $1.89 |
Weighted Average Common Shares Outstanding: | |||
Basic | 316,136,748 | 315,311,387 | 277,209,819 |
Diluted | 317,417,414 | 316,211,160 | 277,993,631 |
The Connecticut Light And Power Company [Member] | |||
Operating Revenues | 2,692,582 | 2,442,341 | 2,407,449 |
Operating Expenses: | |||
Purchased Power and Transmission | 982,876 | 872,769 | 858,231 |
Operations and Maintenance | 494,578 | 523,247 | 635,733 |
Depreciation | 188,837 | 177,603 | 166,853 |
Amortization of Regulatory Assets/(Liabilities), Net | 59,336 | 4,870 | 14,372 |
Energy Efficiency Programs | 156,335 | 89,858 | 89,299 |
Taxes Other Than Income Taxes | 255,370 | 234,418 | 215,972 |
Total Operating Expenses | 2,137,332 | 1,902,765 | 1,980,460 |
Operating Income | 555,250 | 539,576 | 426,989 |
Interest Expense: | |||
Interest on Long-Term Debt | 135,656 | 130,620 | 124,894 |
Other Interest | 11,765 | 3,030 | 8,233 |
Total Interest Expense | 147,421 | 133,650 | 133,127 |
Other Income/(Loss), Net | 13,376 | 15,149 | 10,300 |
Income Before Income Tax Expense | 421,205 | 421,075 | 304,162 |
Income Tax Expense | 133,451 | 141,663 | 94,437 |
Net Income | 287,754 | 279,412 | 209,725 |
NSTAR Electric Company [Member] | |||
Operating Revenues | 2,536,677 | 2,493,479 | 2,300,997 |
Operating Expenses: | |||
Purchased Power and Transmission | 1,122,298 | 849,149 | 788,252 |
Operations and Maintenance | 326,972 | 376,360 | 431,802 |
Depreciation | 188,693 | 180,298 | 171,070 |
Amortization of Regulatory Assets/(Liabilities), Net | -6,330 | 230,148 | 117,682 |
Amortization of Rate Reduction Bonds | 0 | 15,054 | 90,322 |
Energy Efficiency Programs | 193,516 | 206,536 | 201,234 |
Taxes Other Than Income Taxes | 133,072 | 127,778 | 119,219 |
Total Operating Expenses | 1,958,221 | 1,985,323 | 1,919,581 |
Operating Income | 578,456 | 508,156 | 381,416 |
Interest Expense: | |||
Interest on Long-Term Debt | 77,140 | 79,088 | 87,100 |
Interest on Rate Reduction Bonds | 0 | 399 | 3,585 |
Other Interest | 738 | -9,104 | -20,631 |
Total Interest Expense | 77,878 | 70,383 | 70,054 |
Other Income/(Loss), Net | 4,491 | 3,639 | 2,846 |
Income Before Income Tax Expense | 505,069 | 441,412 | 314,208 |
Income Tax Expense | 201,981 | 172,866 | 123,966 |
Net Income | 303,088 | 268,546 | 190,242 |
Public Service Company Of New Hampshire [Member] | |||
Operating Revenues | 959,500 | 935,402 | 988,013 |
Operating Expenses: | |||
Purchased Power and Transmission | 313,732 | 269,754 | 319,253 |
Operations and Maintenance | 261,848 | 267,797 | 263,234 |
Depreciation | 98,436 | 91,581 | 87,602 |
Amortization of Regulatory Assets/(Liabilities), Net | -29,602 | -20,387 | -24,086 |
Amortization of Rate Reduction Bonds | 0 | 19,748 | 56,645 |
Energy Efficiency Programs | 14,286 | 14,494 | 14,245 |
Taxes Other Than Income Taxes | 71,417 | 67,196 | 66,025 |
Total Operating Expenses | 730,117 | 710,183 | 782,918 |
Operating Income | 229,383 | 225,219 | 205,095 |
Interest Expense: | |||
Interest on Long-Term Debt | 45,116 | 44,370 | 46,228 |
Interest on Rate Reduction Bonds | 0 | -154 | 2,687 |
Other Interest | 233 | 1,960 | 1,313 |
Total Interest Expense | 45,349 | 46,176 | 50,228 |
Other Income/(Loss), Net | 2,045 | 3,455 | 3,008 |
Income Before Income Tax Expense | 186,079 | 182,498 | 157,875 |
Income Tax Expense | 72,135 | 71,101 | 60,993 |
Net Income | 113,944 | 111,397 | 96,882 |
Western Massachusetts Electric Company [Member] | |||
Operating Revenues | 493,423 | 472,724 | 441,164 |
Operating Expenses: | |||
Purchased Power and Transmission | 172,876 | 147,059 | 136,086 |
Operations and Maintenance | 89,406 | 96,194 | 97,031 |
Depreciation | 41,886 | 37,568 | 29,971 |
Amortization of Regulatory Assets/(Liabilities), Net | -6,228 | -3,206 | 410 |
Amortization of Rate Reduction Bonds | 0 | 7,780 | 17,632 |
Energy Efficiency Programs | 42,937 | 39,524 | 27,802 |
Taxes Other Than Income Taxes | 34,907 | 28,458 | 21,458 |
Total Operating Expenses | 375,784 | 353,377 | 330,390 |
Operating Income | 117,639 | 119,347 | 110,774 |
Interest Expense: | |||
Interest on Long-Term Debt | 24,245 | 23,625 | 23,462 |
Interest on Rate Reduction Bonds | 0 | 177 | 1,229 |
Other Interest | 686 | 1,049 | 1,943 |
Total Interest Expense | 24,931 | 24,851 | 26,634 |
Other Income/(Loss), Net | 2,379 | 3,310 | 2,503 |
Income Before Income Tax Expense | 95,087 | 97,806 | 86,643 |
Income Tax Expense | 37,268 | 37,368 | 32,140 |
Net Income | $57,819 | $60,438 | $54,503 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Net Income | $827,065 | $793,689 | $533,077 |
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease Abstract | |||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 2,037 | 2,049 | 1,971 |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | 315 | -940 | 217 |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax | -30,330 | 25,714 | -4,356 |
Other Comprehensive Income (Loss), Net of Tax, Total | -27,978 | 26,823 | -2,168 |
Comprehensive Income Attributable to Noncontrolling Interests | 7,519 | 7,682 | 7,132 |
Comprehensive Income | 791,568 | 812,830 | 523,777 |
The Connecticut Light And Power Company [Member] | |||
Net Income | 287,754 | 279,412 | 209,725 |
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease Abstract | |||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 444 | 444 | 444 |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | 12 | -31 | 7 |
Other Comprehensive Income (Loss), Net of Tax, Total | 456 | 413 | 451 |
Comprehensive Income | 288,210 | 279,825 | 210,176 |
NSTAR Electric Company [Member] | |||
Net Income | 303,088 | 268,546 | 190,242 |
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease Abstract | |||
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax | 442 | ||
Other Comprehensive Income (Loss), Net of Tax, Total | 442 | ||
Comprehensive Income | 303,530 | 268,546 | 190,242 |
Public Service Company Of New Hampshire [Member] | |||
Net Income | 113,944 | 111,397 | 96,882 |
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease Abstract | |||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 1,162 | 1,162 | 1,162 |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | 19 | -54 | 13 |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax | 0 | -3 | 2 |
Other Comprehensive Income (Loss), Net of Tax, Total | 1,181 | 1,105 | 1,177 |
Comprehensive Income | 115,125 | 112,502 | 98,059 |
Western Massachusetts Electric Company [Member] | |||
Net Income | 57,819 | 60,438 | 54,503 |
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease Abstract | |||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 338 | 338 | 338 |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | 3 | -9 | 2 |
Other Comprehensive Income (Loss), Net of Tax, Total | 341 | 329 | 340 |
Comprehensive Income | $58,160 | $60,767 | $54,843 |
CONSOLIDATED_STATEMENT_OF_CASH
CONSOLIDATED STATEMENT OF CASH FLOWS (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Operating Activities: | |||
Net Income | $827,065 | $793,689 | $533,077 |
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities: | |||
Depreciation | 614,657 | 610,777 | 519,010 |
Deferred Income Tax Expense (Benefit) | 443,259 | 431,413 | 292,000 |
Pension, SERP and PBOP Expense | 99,056 | 195,698 | 218,540 |
Pension and PBOP Contributions | -211,649 | -342,184 | -295,028 |
Regulatory Over/(Under) Recoveries, Net | 6,853 | -24,276 | -259,853 |
Amortization of Regulatory Assets/(Liabilities), Net | 10,704 | 206,322 | 79,762 |
Amortization of Rate Reduction Bonds | 0 | 42,581 | 142,019 |
Proceeds from DOE Damages Claim, Net | 132,138 | ||
Other Noncash Income (Expense) | 39,523 | 56,071 | 42,852 |
Changes in Current Assets and Liabilities: | |||
Receivables and Unbilled Revenues, Net | -122,139 | -163,549 | -20,214 |
Increase Decrease in Fuel, Materials and Supplies | -41,310 | -14,811 | 34,321 |
Taxes Receivable/(Accrued) | -323,224 | -50,950 | -5,450 |
Accounts Payable | 144,743 | -54,619 | -128,339 |
Other Current Assets and Liabilities | 15,797 | -22,623 | 8,532 |
Net Cash Flows Provided by Operating Activities | 1,635,473 | 1,663,539 | 1,161,229 |
Investing Activities: | |||
Investments in Property, Plant and Equipment | -1,603,744 | -1,456,787 | -1,472,272 |
Proceeds from Sales of Marketable Securities | 488,789 | 627,532 | 317,294 |
Purchases of Marketable Securities | -491,220 | -679,784 | -348,629 |
Other Investing Activities | 14,380 | 67,816 | 35,683 |
Net Cash Flows Used in Investing Activities | -1,591,795 | -1,441,223 | -1,467,924 |
Financing Activities: | |||
Cash Dividends on Common Stock | -475,227 | -462,741 | -375,047 |
Cash Dividends on Preferred Stock | -7,519 | -7,682 | -7,029 |
Increase/(Decrease) in Short-Term Debt | 285,075 | -397,000 | 825,000 |
Issuance of Long-Term Debt | 725,000 | 1,680,000 | 850,000 |
Retirements of Long-Term Debt | -576,551 | -929,885 | -839,136 |
Retirements of Rate Reduction Bonds | 0 | -82,139 | -114,433 |
Other Financing Activities | 883 | -25,253 | 6,529 |
Net Cash Flows Provided by/(Used in) Financing Activities | -48,339 | -224,700 | 345,884 |
Net Increase/(Decrease) in Cash | -4,661 | -2,384 | 39,189 |
Cash - Beginning of Year | 43,364 | 45,748 | 6,559 |
Cash - End of Year | 38,703 | 43,364 | 45,748 |
The Connecticut Light And Power Company [Member] | |||
Operating Activities: | |||
Net Income | 287,754 | 279,412 | 209,725 |
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities: | |||
Depreciation | 188,837 | 177,603 | 166,853 |
Deferred Income Tax Expense (Benefit) | 130,949 | 130,038 | 140,993 |
Pension, SERP and PBOP Expense | 14,992 | 24,416 | 24,062 |
Regulatory Over/(Under) Recoveries, Net | -20,502 | 28,298 | -100,505 |
Amortization of Regulatory Assets/(Liabilities), Net | 59,336 | 4,870 | 14,372 |
Proceeds from DOE Damages Claim, Net | 68,610 | ||
Other Noncash Income (Expense) | -1,342 | -3,478 | -28,952 |
Changes in Current Assets and Liabilities: | |||
Receivables and Unbilled Revenues, Net | -78,631 | -56,593 | -7,741 |
Increase Decrease in Fuel, Materials and Supplies | 13,063 | 9,997 | -4,573 |
Taxes Receivable/(Accrued) | -126,376 | -41,594 | 15,702 |
Accounts Payable | 68,891 | -66,225 | -190,240 |
Other Current Assets and Liabilities | 6,838 | 8,513 | -27,803 |
Net Cash Flows Provided by Operating Activities | 612,419 | 495,257 | 211,893 |
Investing Activities: | |||
Investments in Property, Plant and Equipment | -515,710 | -434,934 | -449,137 |
Other Investing Activities | 12,653 | 2,650 | 32,009 |
Net Cash Flows Used in Investing Activities | -503,057 | -432,284 | -417,128 |
Financing Activities: | |||
Cash Dividends on Common Stock | -171,200 | -151,999 | -100,486 |
Cash Dividends on Preferred Stock | -5,559 | -5,559 | -5,559 |
Increase/(Decrease) in Short-Term Debt | 0 | -89,000 | 58,000 |
Issuance of Long-Term Debt | 250,000 | 400,000 | 0 |
Increase/(Decrease) in Notes Payable to Affiliate | -153,900 | -117,800 | 346,575 |
Retirements of Long-Term Debt | -150,000 | -125,000 | -116,400 |
Capital Contributions from NU Parent | 120,000 | 40,000 | 25,000 |
Other Financing Activities | -3,584 | -6,379 | -1,895 |
Net Cash Flows Provided by/(Used in) Financing Activities | -114,243 | -55,737 | 205,235 |
Net Increase/(Decrease) in Cash | -4,881 | 7,236 | 0 |
Cash - Beginning of Year | 7,237 | 1 | 1 |
Cash - End of Year | 2,356 | 7,237 | 1 |
NSTAR Electric Company [Member] | |||
Operating Activities: | |||
Net Income | 303,088 | 268,546 | 190,242 |
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities: | |||
Bad Debt Expense | 24,740 | 28,108 | 40,301 |
Depreciation | 188,693 | 180,298 | 171,070 |
Deferred Income Tax Expense (Benefit) | 108,133 | 48,808 | 4,264 |
Pension, SERP and PBOP Expense | 6,760 | 35,731 | 66,010 |
Pension Contribution | -120,306 | -82,000 | -25,000 |
Regulatory Over/(Under) Recoveries, Net | 57,696 | -119,433 | -16,129 |
Amortization of Regulatory Assets/(Liabilities), Net | -6,330 | 230,148 | 117,682 |
Amortization of Rate Reduction Bonds | 0 | 15,054 | 90,322 |
Proceeds from DOE Damages Claim, Net | 30,193 | ||
Other Noncash Income (Expense) | -51,478 | 4,428 | -32,048 |
Changes in Current Assets and Liabilities: | |||
Receivables and Unbilled Revenues, Net | -18,853 | -45,405 | -10,496 |
Increase Decrease in Fuel, Materials and Supplies | -29,943 | 3,227 | 1,813 |
Taxes Receivable/(Accrued) | -122,746 | -38,003 | 29,899 |
Accounts Payable | 9,753 | 31,875 | 2,662 |
Other Current Assets and Liabilities | 38,535 | -6,468 | 22,568 |
Accounts Payable Related Parties | 115,092 | -44,491 | -61,879 |
Net Cash Flows Provided by Operating Activities | 533,027 | 510,423 | 591,281 |
Investing Activities: | |||
Investments in Property, Plant and Equipment | -465,028 | -476,600 | -414,089 |
Decrease in Restricted Cash | 0 | 37,604 | 3,060 |
Other Investing Activities | 0 | 400 | 400 |
Net Cash Flows Used in Investing Activities | -465,028 | -438,596 | -410,629 |
Financing Activities: | |||
Cash Dividends on Common Stock | -253,000 | -56,000 | -217,000 |
Cash Dividends on Preferred Stock | -1,961 | -2,123 | -1,960 |
Increase/(Decrease) in Short-Term Debt | 198,500 | -172,500 | 134,500 |
Issuance of Long-Term Debt | 300,000 | 200,000 | 400,000 |
Retirements of Long-Term Debt | -301,650 | -1,650 | -401,650 |
Retirements of Rate Reduction Bonds | 0 | -43,493 | -84,367 |
Other Financing Activities | -5,136 | -1,735 | -5,853 |
Net Cash Flows Provided by/(Used in) Financing Activities | -63,247 | -77,501 | -176,330 |
Net Increase/(Decrease) in Cash | 4,752 | -5,674 | 4,322 |
Cash - Beginning of Year | 8,021 | 13,695 | 9,373 |
Cash - End of Year | 12,773 | 8,021 | 13,695 |
Public Service Company Of New Hampshire [Member] | |||
Operating Activities: | |||
Net Income | 113,944 | 111,397 | 96,882 |
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities: | |||
Depreciation | 98,436 | 91,581 | 87,602 |
Deferred Income Tax Expense (Benefit) | 94,813 | 75,693 | 58,552 |
Pension, SERP and PBOP Expense | 7,197 | 26,846 | 26,312 |
Pension and PBOP Contributions | -2,482 | -112,964 | -96,880 |
Regulatory Over/(Under) Recoveries, Net | -11,875 | -8,481 | -183 |
Amortization of Regulatory Assets/(Liabilities), Net | -29,602 | -20,387 | -24,086 |
Amortization of Rate Reduction Bonds | 0 | 19,748 | 56,645 |
Proceeds from DOE Damages Claim, Net | 14,453 | ||
Other Noncash Income (Expense) | 10,095 | 16,079 | 11,205 |
Changes in Current Assets and Liabilities: | |||
Receivables and Unbilled Revenues, Net | -15,576 | 2,412 | -84 |
Increase Decrease in Fuel, Materials and Supplies | -19,403 | -33,391 | 25,897 |
Taxes Receivable/(Accrued) | -23,857 | 26,462 | -9,752 |
Accounts Payable | 17,796 | 2,632 | -15,248 |
Other Current Assets and Liabilities | -5,972 | -9,520 | 13,436 |
Net Cash Flows Provided by Operating Activities | 247,967 | 188,107 | 230,298 |
Investing Activities: | |||
Investments in Property, Plant and Equipment | -256,159 | -186,009 | -203,902 |
(Increase) Decrease In Notes Receivable From Affiliated Company | 0 | 55,900 | |
Decrease in Restricted Cash | -1,013 | 22,040 | 4,200 |
Other Investing Activities | -139 | -88 | -135 |
Net Cash Flows Used in Investing Activities | -257,311 | -164,057 | -143,937 |
Financing Activities: | |||
Cash Dividends on Common Stock | -66,000 | -68,000 | -90,674 |
Increase/(Decrease) in Short-Term Debt | 4,000 | 23,200 | 0 |
Issuance of Long-Term Debt | 75,000 | 250,000 | 0 |
Increase/(Decrease) in Notes Payable to Affiliate | 0 | 0 | 63,300 |
Retirements of Long-Term Debt | -50,000 | -198,235 | 0 |
Retirements of Rate Reduction Bonds | 0 | -29,294 | -56,074 |
Capital Contributions from NU Parent | 45,000 | 0 | 0 |
Other Financing Activities | 1,703 | -4,084 | -476 |
Net Cash Flows Provided by/(Used in) Financing Activities | 9,703 | -26,413 | -83,924 |
Net Increase/(Decrease) in Cash | 359 | -2,363 | 2,437 |
Cash - Beginning of Year | 130 | 2,493 | 56 |
Cash - End of Year | 489 | 130 | 2,493 |
Western Massachusetts Electric Company [Member] | |||
Operating Activities: | |||
Net Income | 57,819 | 60,438 | 54,503 |
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities: | |||
Depreciation | 41,886 | 37,568 | 29,971 |
Deferred Income Tax Expense (Benefit) | 34,108 | 87,028 | 53,942 |
Regulatory Over/(Under) Recoveries, Net | 1,925 | 8,458 | -19,152 |
Amortization of Regulatory Assets/(Liabilities), Net | -6,228 | -3,206 | 410 |
Amortization of Rate Reduction Bonds | 0 | 7,780 | 17,632 |
Proceeds from DOE Damages Claim, Net | 18,883 | ||
Other Noncash Income (Expense) | -2,005 | 3,381 | -3,954 |
Changes in Current Assets and Liabilities: | |||
Receivables and Unbilled Revenues, Net | 39,872 | -53,292 | -8,896 |
Increase Decrease in Fuel, Materials and Supplies | -627 | 865 | -2,882 |
Taxes Receivable/(Accrued) | -22,454 | 19,840 | -8,311 |
Accounts Payable | 1,269 | 7,456 | -19,297 |
Other Current Assets and Liabilities | -11,169 | 2,491 | 581 |
Net Cash Flows Provided by Operating Activities | 153,279 | 178,807 | 94,547 |
Investing Activities: | |||
Investments in Property, Plant and Equipment | -116,205 | -128,786 | -264,175 |
Proceeds from Sales of Marketable Securities | 73,198 | 70,778 | 79,769 |
Purchases of Marketable Securities | -73,888 | -71,390 | -80,529 |
(Increase) Decrease In Notes Receivable From Affiliated Company | 0 | 0 | 11,000 |
Other Investing Activities | 3,200 | 7,401 | -28 |
Net Cash Flows Used in Investing Activities | -113,695 | -121,997 | -253,963 |
Financing Activities: | |||
Cash Dividends on Common Stock | -59,999 | -40,001 | -9,432 |
Issuance of Long-Term Debt | 0 | 80,000 | 150,000 |
Increase/(Decrease) in Notes Payable to Affiliate | 21,400 | -31,900 | 31,900 |
Retirements of Long-Term Debt | 0 | -55,000 | -53,800 |
Retirements of Rate Reduction Bonds | 0 | -9,352 | -17,540 |
Capital Contributions from NU Parent | 0 | 0 | 50,000 |
Other Financing Activities | -985 | -558 | 8,288 |
Net Cash Flows Provided by/(Used in) Financing Activities | -39,584 | -56,811 | 159,416 |
Net Increase/(Decrease) in Cash | 0 | -1 | 0 |
Cash - Beginning of Year | 1 | 1 | |
Cash - End of Year | $1 |
CONSOLIDATED_STATEMENTS_OF_COM1
CONSOLIDATED STATEMENTS OF COMMON SHAREHOLDERS EQUITY (USD $) | 3 Months Ended | 12 Months Ended | ||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Common Stock, Shares, Outstanding | 316,983,337 | 315,273,559 | 316,983,337 | 315,273,559 | ||
Net Income | $223,600 | $179,200 | $827,065 | $793,689 | $533,077 | |
Other Comprehensive Income (Loss), Net of Tax | -27,978 | 26,823 | -2,168 | |||
Net Income Attributable to Noncontrolling Interests | 7,519 | 7,682 | 7,132 | |||
SharesIssuedInConnectionWithNstarMerger | ||||||
SharesIssuedValueInConectionWithNstarMerger | ||||||
Common Stock [Member] | ||||||
Common Stock, Shares, Outstanding | 316,983,337 | 315,273,559 | 316,983,337 | 315,273,559 | 314,053,634 | 177,158,692 |
Common Stock, Value, Outstanding | 1,666,796 | 1,665,351 | 1,666,796 | 1,665,351 | 1,662,547 | 980,264 |
Issuance of Common Shares | 1,445 | 2,040 | ||||
Stock Issued During Period, Shares, New Issues | 288,941 | 659,077 | 408,018 | |||
Stock Issued During Period, Shares, Treasury Stock Reissued | 1,420,837 | 438,329 | ||||
Additional Paid-in Capital [Member] | ||||||
Common Stock, Value, Outstanding | 6,235,834 | 6,192,765 | 6,235,834 | 6,192,765 | 6,183,267 | 1,797,884 |
Issuance of Common Shares | 5,164 | 17,381 | 11,287 | |||
Long-Term Incentive Plan Activity | -9,569 | -5,409 | -3,897 | |||
Stock Issued During Period, Value, Treasury Stock Reissued | 37,817 | 8,454 | ||||
SharesIssuedValueInConectionWithNstarMerger | ||||||
OtherChangesInShareholdersEquity | 9,657 | 8,574 | ||||
OtherEquityImpactsOfMergerWithNstar | ||||||
Retained Earnings [Member] | ||||||
Common Stock, Value, Outstanding | 2,448,661 | 2,125,980 | 2,448,661 | 2,125,980 | 1,802,714 | 1,651,875 |
Net Income | 827,065 | 793,689 | 421 | |||
Dividends on Common Shares | -496,524 | -375,527 | ||||
Dividends on Preferred Stock | -7,519 | -7,029 | ||||
Net Income Attributable to Noncontrolling Interests | -103 | |||||
OtherEquityImpactsOfMergerWithNstar | -7,682 | -7,682 | ||||
Accumulated Other Comprehensive Income (Loss) [Member] | ||||||
Common Stock, Value, Outstanding | -74,009 | -46,031 | -74,009 | -46,031 | -72,854 | -70,686 |
Other Comprehensive Income (Loss), Net of Tax | -27,978 | -2,168 | ||||
Treasury Stock [Member] | ||||||
Common Stock, Value, Outstanding | -300,467 | -326,537 | -300,467 | -326,537 | -338,624 | -346,667 |
Stock Issued During Period, Value, Treasury Stock Reissued | 26,070 | 8,043 | ||||
Stockholders Equity Total Member | ||||||
SharesIssuedValueInConectionWithNstarMerger | -462,741 | |||||
OtherEquityImpactsOfMergerWithNstar | -7,682 | -7,682 | ||||
Common Shareholders Equity [Member] | ||||||
Common Stock, Value, Outstanding | 9,976,815 | 9,611,528 | 9,976,815 | 9,611,528 | 9,237,050 | 4,012,670 |
Net Income | 827,065 | 793,689 | 3,359 | |||
Dividends on Common Shares | -496,524 | 11,078 | -375,527 | |||
Issuance of Common Shares | 6,609 | 29,468 | 13,327 | |||
Dividends on Preferred Stock | -7,519 | -10,748 | -7,029 | |||
Long-Term Incentive Plan Activity | -9,569 | -5,409 | -3,897 | |||
Other Comprehensive Income (Loss), Net of Tax | -27,978 | -2,168 | ||||
Stock Issued During Period, Value, Treasury Stock Reissued | 63,887 | 26,823 | 16,497 | |||
Net Income Attributable to Noncontrolling Interests | -103 | |||||
OtherChangesInShareholdersEquity | 9,316 | 8,574 | ||||
The Connecticut Light And Power Company [Member] | ||||||
Net Income | 87,200 | 60,200 | 287,754 | 279,412 | 209,725 | |
Other Comprehensive Income (Loss), Net of Tax | 456 | 413 | 451 | |||
Capital Contributions from NU Parent | 120,000 | 40,000 | 25,000 | |||
The Connecticut Light And Power Company [Member] | Common Stock [Member] | ||||||
Common Stock, Shares, Outstanding | 6,035,205 | 6,035,205 | 6,035,205 | 6,035,205 | 6,035,205 | 6,035,205 |
Common Stock, Value, Outstanding | 60,352 | 60,352 | 60,352 | 60,352 | 60,352 | 60,352 |
The Connecticut Light And Power Company [Member] | Additional Paid-in Capital [Member] | ||||||
Common Stock, Value, Outstanding | 1,804,869 | 1,682,047 | 1,804,869 | 1,682,047 | 1,640,149 | 1,613,503 |
Stock Issued During Period, Value, Employee Stock Ownership Plan | 2,771 | 1,847 | 1,595 | |||
Payments of Stock Issuance Costs | 51 | 51 | 51 | |||
Capital Contributions from NU Parent | 120,000 | 40,000 | 25,000 | |||
The Connecticut Light And Power Company [Member] | Retained Earnings [Member] | ||||||
Common Stock, Value, Outstanding | 1,072,477 | 961,482 | 1,072,477 | 961,482 | 839,628 | 735,948 |
Net Income | 287,754 | 279,412 | 209,725 | |||
Dividends on Common Shares | -171,200 | -151,999 | -100,486 | |||
Dividends on Preferred Stock | -5,559 | -5,559 | -5,559 | |||
The Connecticut Light And Power Company [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | ||||||
Common Stock, Value, Outstanding | -931 | -1,387 | -931 | -1,387 | -1,800 | -2,251 |
Other Comprehensive Income (Loss), Net of Tax | 456 | 413 | ||||
The Connecticut Light And Power Company [Member] | Common Shareholders Equity [Member] | ||||||
Common Stock, Value, Outstanding | 2,936,767 | 2,702,494 | 2,936,767 | 2,702,494 | 2,538,329 | 2,407,552 |
Net Income | 287,754 | 279,412 | 209,725 | |||
Dividends on Common Shares | -171,200 | -151,999 | -100,486 | |||
Dividends on Preferred Stock | -5,559 | -5,559 | -5,559 | |||
Stock Issued During Period, Value, Employee Stock Ownership Plan | 2,771 | 1,847 | 1,595 | |||
Other Comprehensive Income (Loss), Net of Tax | 456 | 413 | ||||
Payments of Stock Issuance Costs | 51 | 51 | 51 | |||
Capital Contributions from NU Parent | 120,000 | 40,000 | 25,000 | |||
NSTAR Electric Company [Member] | ||||||
Net Income | 69,300 | 55,400 | 303,088 | 268,546 | 190,242 | |
Other Comprehensive Income (Loss), Net of Tax | 442 | |||||
NSTAR Electric Company [Member] | Common Stock [Member] | ||||||
Common Stock, Shares, Outstanding | 100 | 100 | 100 | 100 | 100 | 100 |
Common Stock, Value, Outstanding | 0 | 0 | 0 | 0 | 0 | 0 |
NSTAR Electric Company [Member] | Additional Paid-in Capital [Member] | ||||||
Common Stock, Value, Outstanding | 994,130 | 992,625 | 994,130 | 992,625 | 992,625 | 992,625 |
NSTAR Electric Company [Member] | Retained Earnings [Member] | ||||||
Common Stock, Value, Outstanding | 1,468,955 | 1,420,828 | 1,468,955 | 1,420,828 | 1,210,405 | 1,239,123 |
Net Income | 268,546 | 190,242 | ||||
Dividends on Common Shares | -253,000 | -56,000 | -217,000 | |||
Dividends on Preferred Stock | -1,961 | -2,123 | -1,960 | |||
NSTAR Electric Company [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | ||||||
Other Comprehensive Income (Loss), Net of Tax | 442 | |||||
NSTAR Electric Company [Member] | Stockholders Equity Total Member | ||||||
Other Comprehensive Income (Loss), Net of Tax | 442 | |||||
NSTAR Electric Company [Member] | Common Shareholders Equity [Member] | ||||||
Common Stock, Value, Outstanding | 2,463,527 | 2,413,453 | 2,463,527 | 2,413,453 | 2,203,030 | 2,231,748 |
Net Income | 303,088 | 268,546 | 190,242 | |||
Dividends on Common Shares | -253,000 | -56,000 | -217,000 | |||
Dividends on Preferred Stock | -1,961 | -2,123 | -1,960 | |||
Public Service Company Of New Hampshire [Member] | ||||||
Net Income | 29,000 | 26,800 | 113,944 | 111,397 | 96,882 | |
Other Comprehensive Income (Loss), Net of Tax | 1,181 | 1,105 | 1,177 | |||
Capital Contributions from NU Parent | 45,000 | 0 | 0 | |||
Public Service Company Of New Hampshire [Member] | Common Stock [Member] | ||||||
Common Stock, Shares, Outstanding | 301 | 301 | 301 | 301 | 301 | 301 |
Common Stock, Value, Outstanding | 0 | 0 | 0 | 0 | 0 | 0 |
Public Service Company Of New Hampshire [Member] | Additional Paid-in Capital [Member] | ||||||
Common Stock, Value, Outstanding | 748,240 | 701,911 | 748,240 | 701,911 | 701,052 | 700,285 |
Stock Issued During Period, Value, Employee Stock Ownership Plan | 1,329 | 859 | 767 | |||
Public Service Company Of New Hampshire [Member] | Retained Earnings [Member] | ||||||
Common Stock, Value, Outstanding | 486,459 | 438,515 | 486,459 | 438,515 | 395,118 | 388,910 |
Net Income | 113,944 | 111,397 | 96,882 | |||
Dividends on Common Shares | -66,000 | -68,000 | -90,674 | |||
Public Service Company Of New Hampshire [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | ||||||
Common Stock, Value, Outstanding | -7,369 | -8,550 | -7,369 | -8,550 | -9,655 | -10,832 |
Other Comprehensive Income (Loss), Net of Tax | 1,181 | 1,105 | 1,177 | |||
Public Service Company Of New Hampshire [Member] | Common Shareholders Equity [Member] | ||||||
Common Stock, Value, Outstanding | 1,227,330 | 1,131,876 | 1,227,330 | 1,131,876 | 1,086,515 | 1,078,363 |
Net Income | 113,944 | 111,397 | 96,882 | |||
Dividends on Common Shares | -66,000 | -68,000 | -90,674 | |||
Stock Issued During Period, Value, Employee Stock Ownership Plan | 1,329 | 859 | 767 | |||
Other Comprehensive Income (Loss), Net of Tax | 1,181 | 1,105 | 1,177 | |||
Western Massachusetts Electric Company [Member] | ||||||
Net Income | 18,000 | 10,400 | 57,819 | 60,438 | 54,503 | |
Other Comprehensive Income (Loss), Net of Tax | 341 | 329 | 340 | |||
Capital Contributions from NU Parent | 0 | 0 | 50,000 | |||
Western Massachusetts Electric Company [Member] | Common Stock [Member] | ||||||
Common Stock, Shares, Outstanding | 434,653 | 434,653 | 434,653 | 434,653 | 434,653 | 434,653 |
Common Stock, Value, Outstanding | 10,866 | 10,866 | 10,866 | 10,866 | 10,866 | 10,866 |
Western Massachusetts Electric Company [Member] | Additional Paid-in Capital [Member] | ||||||
Common Stock, Value, Outstanding | 391,256 | 390,743 | 391,256 | 390,743 | 390,412 | 340,115 |
Stock Issued During Period, Value, Employee Stock Ownership Plan | 513 | 331 | 297 | |||
Capital Contributions from NU Parent | 50,000 | |||||
Western Massachusetts Electric Company [Member] | Retained Earnings [Member] | ||||||
Common Stock, Value, Outstanding | 178,834 | 181,014 | 178,834 | 181,014 | 160,577 | 115,506 |
Net Income | 57,819 | 60,438 | 54,503 | |||
Dividends on Common Shares | -59,999 | -40,001 | -9,432 | |||
Western Massachusetts Electric Company [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | ||||||
Common Stock, Value, Outstanding | -3,176 | -3,517 | -3,176 | -3,517 | -3,846 | -4,186 |
Other Comprehensive Income (Loss), Net of Tax | 341 | 340 | ||||
Western Massachusetts Electric Company [Member] | Common Shareholders Equity [Member] | ||||||
Common Stock, Value, Outstanding | 577,780 | 579,106 | 577,780 | 579,106 | 558,009 | 462,301 |
Net Income | 57,819 | 60,438 | 54,503 | |||
Dividends on Common Shares | -59,999 | -40,001 | -9,432 | |||
Stock Issued During Period, Value, Employee Stock Ownership Plan | 513 | 331 | 297 | |||
Other Comprehensive Income (Loss), Net of Tax | 341 | 340 | ||||
Capital Contributions from NU Parent | $329 | $50,000 |
SUMMARY_OF_SIGNIFICANT_ACCOUNT
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Dec. 31, 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 FINANCIAL STATEMENTS | |||||||||||||||||||||||||||||||||||||
Refer to the Glossary of Terms included in this combined Annual Report on Form 10-K for abbreviations and acronyms used throughout the combined notes to the financial statements. | |||||||||||||||||||||||||||||||||||||
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |||||||||||||||||||||||||||||||||||||
A. About NU, CL&P, NSTAR Electric, PSNH and WMECO | |||||||||||||||||||||||||||||||||||||
NU Consolidated: NU is a public utility holding company primarily engaged through its wholly owned regulated utility subsidiaries in the energy delivery business. On April 10, 2012, NU acquired NSTAR and its subsidiaries. See Note 21, "Merger of NU and NSTAR," for further information regarding the merger. 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. On February 2, 2015, NU, CL&P, NSTAR Electric, PSNH and WMECO commenced doing business as Eversource Energy. | |||||||||||||||||||||||||||||||||||||
NU, CL&P, NSTAR Electric, PSNH and WMECO are reporting companies under the Securities Exchange Act of 1934. NU is a public utility holding company under the Public Utility Holding Company Act of 2005. Arrangements among the regulated electric companies and other NU companies, outside agencies and other utilities covering interconnections, interchange of electric power and sales of utility property are subject to regulation by the FERC. The Regulated companies are subject to regulation of rates, accounting and other matters by the FERC and/or applicable state regulatory commissions (the PURA for CL&P and Yankee Gas, the DPU for NSTAR Electric, WMECO and NSTAR Gas, and the NHPUC for PSNH). | |||||||||||||||||||||||||||||||||||||
Regulated Companies: CL&P, NSTAR Electric, PSNH and WMECO furnish franchised retail electric service in Connecticut, Massachusetts and New Hampshire. Yankee Gas and NSTAR Gas are engaged in the distribution and sale of natural gas to customers within Connecticut and central and eastern Massachusetts, respectively. CL&P, NSTAR Electric, PSNH and WMECO's results include the operations of their respective distribution and transmission businesses. PSNH and WMECO's distribution results include the operations of their respective generation businesses. NU also has a regulated subsidiary, NPT, which was formed to construct, own and operate the Northern Pass line, a HVDC transmission line from Québec to New Hampshire under development that will interconnect with a new HVDC transmission line being developed by a transmission subsidiary of HQ. | |||||||||||||||||||||||||||||||||||||
Other: NUSCO, NU's service company, Rocky River Realty Company, a wholly-owned real estate subsidiary of NU, Renewable Properties, Inc., a wholly-owned subsidiary of EETV, and Properties, Inc., a wholly-owned subsidiary of PSNH, provide support services to NU, including its regulated companies. Harbor Electric Energy Company, a wholly-owned subsidiary of NSTAR Electric, provides distribution service and ongoing support to the Massachusetts Water Resources Authority. Hopkinton LNG Corp, an indirect, wholly-owned subsidiary of NU, provides natural gas liquefaction, vaporization, and storage services for NSTAR Gas. | |||||||||||||||||||||||||||||||||||||
B. Basis of Presentation | |||||||||||||||||||||||||||||||||||||
The 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 consolidated financial statements of NU, NSTAR Electric and PSNH and the financial statements of CL&P and WMECO are herein collectively referred to as the "financial statements." | |||||||||||||||||||||||||||||||||||||
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. | |||||||||||||||||||||||||||||||||||||
NU's consolidated financial information includes NSTAR and its subsidiaries' results of operations beginning April 10, 2012. The information disclosed for the year ended December 31, 2012 for NSTAR Electric is presented on a comparable basis. | |||||||||||||||||||||||||||||||||||||
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. | |||||||||||||||||||||||||||||||||||||
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' distribution, generation and transmission businesses and NPT are 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 year data were made in the accompanying balance sheets for NU, CL&P, NSTAR Electric and PSNH. These reclassifications were made to conform to the current year presentation. | |||||||||||||||||||||||||||||||||||||
In accordance with accounting guidance on noncontrolling interests in consolidated financial statements, the Preferred Stock of CL&P and the Preferred Stock of NSTAR Electric, which are not owned by NU or its consolidated subsidiaries and are not subject to mandatory redemption, have been presented as noncontrolling interests in the financial statements of NU. The Preferred Stock of CL&P and the Preferred Stock of NSTAR Electric are considered to be temporary equity and have been classified between liabilities and permanent shareholders' equity on the balance sheets of NU, CL&P and NSTAR Electric due to a provision in the preferred stock agreements of both CL&P and NSTAR Electric that grant preferred stockholders the right to elect a majority of the CL&P and NSTAR Electric Board of Directors, respectively, should certain conditions exist, such as if preferred dividends are in arrears for a specified amount of time. The Net Income reported in the statements of income and cash flows represents net income prior to apportionment to noncontrolling interests, which is represented by dividends on preferred stock of CL&P and NSTAR Electric. | |||||||||||||||||||||||||||||||||||||
As of December 31, 2014 and 2013, NU's carrying amount of goodwill was approximately $3.5 billion. NU performs an assessment for possible impairment of its goodwill at least annually. NU completed its annual goodwill impairment test for each of its reporting units as of October 1, 2014 and determined that no impairment exists. See Note 22, "Goodwill," for further information. | |||||||||||||||||||||||||||||||||||||
C. 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 ASU. 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. | |||||||||||||||||||||||||||||||||||||
D. Cash and Cash Equivalents | |||||||||||||||||||||||||||||||||||||
Cash and cash equivalents include cash on hand and short-term cash investments that are highly liquid in nature and have original maturities of three months or less. At the end of each reporting period, any overdraft amounts are reclassified from Cash and Cash Equivalents to Accounts Payable on the balance sheets. | |||||||||||||||||||||||||||||||||||||
E. 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 judgments and 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 collectability from customers. Management continuously assesses the collectability of receivables and adjusts collectability 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 PURA allows CL&P and Yankee Gas to accelerate the recovery of accounts receivable balances attributable to qualified customers under financial or medical duress (uncollectible hardship accounts receivable) outstanding for greater than 90 days. The DPU allows WMECO to also recover in rates amounts associated with certain uncollectible hardship accounts receivable. Uncollectible customer account balances, which are expected to be recovered in rates, are included in Regulatory Assets or Other Long-Term Assets. | |||||||||||||||||||||||||||||||||||||
The total provision for uncollectible accounts and for uncollectible hardship accounts, which is included in the total provision, are included in Receivables, Net on the balance sheets, and were as follows: | |||||||||||||||||||||||||||||||||||||
Total Provision for Uncollectible Accounts | Uncollectible Hardship | ||||||||||||||||||||||||||||||||||||
As of December 31, | As of December 31, | ||||||||||||||||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||||||
NU | $ | 175.3 | $ | 171.3 | $ | 91.5 | $ | 81.2 | |||||||||||||||||||||||||||||
CL&P | 84.3 | 82 | 74 | 67.3 | |||||||||||||||||||||||||||||||||
NSTAR Electric | 40.7 | 41.7 | - | - | |||||||||||||||||||||||||||||||||
PSNH | 7.7 | 7.4 | - | - | |||||||||||||||||||||||||||||||||
WMECO | 9.9 | 10 | 6.2 | 5.5 | |||||||||||||||||||||||||||||||||
F. Fuel, Materials and Supplies and Allowance Inventory | |||||||||||||||||||||||||||||||||||||
Fuel, Materials and Supplies include natural gas, coal, biomass and oil inventories as well as materials purchased primarily for construction or operation and maintenance purposes. Natural gas, coal, biomass and oil inventories are valued at their respective weighted average cost. Materials and supplies are valued at the lower of average cost or market. As of December 31, 2014, NU and PSNH had $164.3 million and $95.1 million, respectively, of fuel and $185.4 million and $53 million, respectively, of materials and supplies. As of December 31, 2013, NU and PSNH had $139.5 million and $74.2 million, respectively, of fuel and $163.7 million and $54.5 million, respectively, of materials and supplies. | |||||||||||||||||||||||||||||||||||||
Fuel, Materials and Supplies also include Renewable Energy Certificates (RECs), which are purchased from suppliers of renewable sources of generation. RECs are used to meet state mandated Renewable Portfolio Standards requirements. As of December 31, 2014 and 2013, NSTAR Electric had $25.1 million and $4.9 million, respectively, of RECs classified as Materials and Supplies on the balance sheets. | |||||||||||||||||||||||||||||||||||||
PSNH is subject to federal and state laws and regulations that regulate emissions of air pollutants, including SO2, CO2, and NOx related to its regulated generation units, and uses SO2, CO2, and NOx emissions allowances. At the end of each compliance period, PSNH is required to relinquish SO2, CO2, and NOx emissions allowances corresponding to the actual respective emissions emitted by its generating units over the compliance period. SO2 and NOx emissions allowances are obtained through an annual allocation from the federal and state regulators that are granted at no cost and through purchases from third parties. CO2 emissions allowances are obtained through an annual allocation from the state regulator that are granted at no cost and are acquired through auctions and through purchases from third parties. SO2, CO2, and NOx emissions allowances are charged to expense based on their weighted average cost as they are utilized against emissions volumes at PSNH's generating units. | |||||||||||||||||||||||||||||||||||||
SO2, CO2, and NOx emissions allowances are recorded within Fuel, Materials and Supplies and are classified on the balance sheet as short-term or long-term depending on the period in which they are expected to be utilized against actual emissions. As of December 31, 2014 and 2013, PSNH had $20.1 million and $19.4 million, respectively, of long-term SO2 and CO2 emissions allowances classified as Other Long-Term Assets on the balance sheets. | |||||||||||||||||||||||||||||||||||||
G. Restricted Cash and Other Deposits | |||||||||||||||||||||||||||||||||||||
As of December 31, 2014, NU, CL&P and PSNH had $3.2 million, $2.1 million, and $1 million respectively, of restricted cash relating to amounts held in escrow, which were included in Prepayments and Other Current Assets on the balance sheets. As of December 31, 2013, these amounts were $1.7 million and $1.4 million for NU and CL&P, respectively. | |||||||||||||||||||||||||||||||||||||
As of December 31, 2014, NU, CL&P and PSNH had $9.9 million, $1.2 million and $2.5 million, respectively, of cash collateral posted not subject to master netting agreements, primarily with ISO-NE, which were included in Prepayments and Other Current Assets on the balance sheets. As of December 31, 2013, these amounts were $17.9 million and $9 million for NU and NSTAR Electric, respectively. | |||||||||||||||||||||||||||||||||||||
H. 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 valuations of the investments 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," Note 6, "Asset Retirement Obligations," Note 9A, "Employee Benefits – Pension Benefits and Postretirement Benefits Other Than Pensions," Note 13, "Fair Value of Financial Instruments," and Note 21, "Merger of NU and NSTAR," to the financial statements. | |||||||||||||||||||||||||||||||||||||
I. Derivative Accounting | |||||||||||||||||||||||||||||||||||||
Many of the Regulated companies' contracts for the purchase and sale of energy or energy-related products are derivatives. The accounting treatment for energy contracts entered into varies and depends on the intended use of the particular contract and on whether or not the contract is a derivative. For the Regulated companies, regulatory assets or regulatory liabilities are recorded to offset the fair values of derivative contracts, as contract settlements are recovered from, or refunded to, customers in future rates. | |||||||||||||||||||||||||||||||||||||
The application of derivative accounting is complex and requires management judgment in the following respects: identification of derivatives and embedded derivatives, election and designation of the normal exception, and determination of the fair value of derivative contracts. All of these judgments can have a significant impact on the financial statements. | |||||||||||||||||||||||||||||||||||||
The judgment applied in the election of the normal exception (and resulting accrual accounting) includes the conclusion that it is probable at the inception of the contract and throughout its term that it will result in physical delivery of the underlying product and that the quantities will be used or sold by the business in the normal course of business. If facts and circumstances change and management can no longer support this conclusion, then the normal exception and accrual accounting is terminated, and fair value accounting is applied prospectively. | |||||||||||||||||||||||||||||||||||||
The fair value of derivative contracts is based upon the contract terms and conditions and the underlying market price or fair value per unit. When quantities are not specified in the contract, the Company determines whether the contract has a determinable quantity by using amounts referenced in default provisions and other relevant sections of the contract. The fair value of derivative assets and liabilities with the same counterparty are offset and recorded as a net derivative asset or liability on the balance sheets. Changes in the fair value of derivative contracts are recorded as regulatory assets or liabilities and do not impact net income. | |||||||||||||||||||||||||||||||||||||
For further information regarding derivative contracts, see Note 4, "Derivative Instruments," to the financial statements. | |||||||||||||||||||||||||||||||||||||
J. Equity Method Investments | |||||||||||||||||||||||||||||||||||||
Regional Decommissioned Nuclear Companies: CL&P, NSTAR Electric, PSNH and WMECO own common stock in three regional nuclear generation companies (CYAPC, YAEC and MYAPC, collectively referred to as the Yankee Companies), each of which owned a single nuclear generating facility that has been decommissioned. For CL&P, NSTAR Electric, PSNH and WMECO, the respective investments in CYAPC, YAEC and MYAPC are accounted for under the equity method. 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. | |||||||||||||||||||||||||||||||||||||
Ownership interests in the Yankee Companies as of December 31, 2014 and 2013 were as follows: | |||||||||||||||||||||||||||||||||||||
(Percent) | CYAPC | YAEC | MYAPC | ||||||||||||||||||||||||||||||||||
CL&P | 34.5 | % | 24.5 | % | 12 | % | |||||||||||||||||||||||||||||||
NSTAR Electric | 14 | 14 | 4 | ||||||||||||||||||||||||||||||||||
PSNH | 5 | 7 | 5 | ||||||||||||||||||||||||||||||||||
WMECO | 9.5 | 7 | 3 | ||||||||||||||||||||||||||||||||||
The total carrying values of CL&P's, NSTAR Electric's, PSNH's and WMECO's ownership interests in CYAPC, YAEC and MYAPC, which are included in Other Long-Term Assets on their respective balance sheets, were as follows: | |||||||||||||||||||||||||||||||||||||
As of December 31, | |||||||||||||||||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | |||||||||||||||||||||||||||||||||||
CL&P | $ | 1.2 | $ | 1.2 | |||||||||||||||||||||||||||||||||
NSTAR Electric | 0.5 | 0.5 | |||||||||||||||||||||||||||||||||||
PSNH | 0.3 | 0.3 | |||||||||||||||||||||||||||||||||||
WMECO | 0.3 | 0.3 | |||||||||||||||||||||||||||||||||||
For further information on the Yankee Companies, see Note 11C, "Commitments and Contingencies - Contractual Obligations - Yankee Companies," to the financial statements. | |||||||||||||||||||||||||||||||||||||
Other Investments: As of December 31, 2014 and 2013, NU had an equity ownership interest in an energy investment fund of $17.8 million and $9.8 million, respectively. | |||||||||||||||||||||||||||||||||||||
Equity investments are included in Other Long-Term Assets on the balance sheets and net earnings related to these equity investments are included in Other Income, Net on the statements of income. | |||||||||||||||||||||||||||||||||||||
K. Revenues | |||||||||||||||||||||||||||||||||||||
Regulated Companies: The Regulated companies' retail revenues are based on rates approved by their respective state regulatory commissions. In general, rates can only be changed through formal proceedings with the state regulatory commissions. The Regulated companies' rates are designed to recover the costs to provide service to their customers, including a return on investment. The Regulated companies also utilize regulatory commission-approved tracking mechanisms to recover certain costs on a fully-reconciling basis. These tracking mechanisms require rates to be changed periodically to ensure recovery of actual costs incurred. WMECO and CL&P (effective December 1, 2014), each have a revenue decoupling mechanism to recover a pre-established level of baseline distribution delivery service revenues per year, independent of actual customer usage. Decoupling mechanisms effectively break the relationship between sales volumes and revenues recognized. | |||||||||||||||||||||||||||||||||||||
A significant portion of the Regulated companies' retail revenues relate to the recovery of costs incurred for the sale of electricity and natural gas purchased on behalf of customers. These energy supply costs are recovered from customers in rates through cost tracking mechanisms. Energy purchases are recorded in Purchased Power, Fuel and Transmission, and the sale of energy associated with these purchases are recorded in Operating Revenues. | |||||||||||||||||||||||||||||||||||||
Regulated Companies' Unbilled Revenues: Because customers are billed throughout the month based on pre-determined cycles rather than on a calendar month basis, an estimate of electricity or natural gas delivered to customers for which the customers have not yet been billed is calculated as of the balance sheet date. Unbilled revenues are included in Operating Revenues on the statements of income and are assets on the balance sheets. Actual amounts billed to customers when meter readings become available may vary from the estimated amount. | |||||||||||||||||||||||||||||||||||||
The Regulated companies estimate unbilled sales monthly using the daily load cycle method. The daily load cycle method allocates billed sales to the current calendar month based on the daily load for each billing cycle. The billed sales are subtracted from total month load, net of delivery losses, to estimate unbilled sales. Unbilled revenues are estimated by first allocating unbilled sales to the respective customer classes, then applying an estimated rate by customer class to those sales. | |||||||||||||||||||||||||||||||||||||
Regulated Companies' Transmission Revenues - Wholesale Rates: Wholesale transmission revenues are recovered through FERC approved formula rates. Wholesale transmission revenues for CL&P, NSTAR Electric, PSNH, and WMECO are collected under the ISO New England Inc. Transmission, Markets and Services Tariff (ISO-NE Tariff). The ISO-NE Tariff includes Regional Network Service (RNS), Schedule 21 - NU rate schedules, which recover the costs of transmission and other transmission-related services for CL&P, PSNH and WMECO, and Schedule 21 - NSTAR rate schedules, which recover costs of transmission and other transmission-related services for NSTAR Electric. The RNS rate, administered by ISO-NE and billed to all New England transmission load, including CL&P, NSTAR Electric, PSNH and WMECO's distribution businesses, is reset on June 1st of each year and recovers the revenue requirements associated with transmission facilities that benefit the entire New England region. Schedule 21 - NU and Schedule 21 - NSTAR rates, administered by NU, recovers the remainder of the transmission revenue requirements. The Schedule 21 - NU rate is reset on January 1st and June 1st of each year, while the Schedule 21 - NSTAR rate is reset on June 1st of each year. The Schedule 21 - NU and Schedule 21 - NSTAR rate calculations recover total transmission revenue requirements net of revenues received from other sources (i.e., RNS, rentals, etc.), thereby ensuring that NU recovers all of CL&P's, NSTAR Electric's, PSNH's and WMECO's regional and local transmission revenue requirements in accordance with the ISO-NE Tariff. RNS, Schedule 21 - NU and Schedule 21 - NSTAR rates provide for the annual reconciliation and recovery or refund of estimated costs to actual costs. The financial impacts of differences between actual and estimated costs are deferred for future recovery from, or refunded to, transmission customers. See Note 11E, "Commitments and Contingencies – FERC Base ROE Complaints," for complaints filed at FERC relating to NU's base ROE. | |||||||||||||||||||||||||||||||||||||
Regulated Companies' Transmission Revenues - Retail Rates: A significant portion of the NU transmission segment revenue comes from ISO-NE charges to the distribution businesses of CL&P, NSTAR Electric, PSNH and WMECO, each of which recovers these costs through rates charged to their retail customers. CL&P, NSTAR Electric, PSNH and WMECO each have a retail transmission cost tracking mechanism as part of their rates, which allows the electric distribution companies to charge their retail customers for transmission costs on a timely basis. | |||||||||||||||||||||||||||||||||||||
L. Operating Expenses | |||||||||||||||||||||||||||||||||||||
Costs related to fuel and natural gas included in Purchased Power, Fuel and Transmission on the statements of income were as follows: | |||||||||||||||||||||||||||||||||||||
For the Years Ended December 31, | |||||||||||||||||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
NU - Natural Gas and Fuel (1) | $ | 599.4 | $ | 466.5 | $ | 346.8 | |||||||||||||||||||||||||||||||
PSNH - Fuel | 113.4 | 104.8 | 103.4 | ||||||||||||||||||||||||||||||||||
(1) NSTAR Gas natural gas costs were included in NU beginning April 10, 2012. | |||||||||||||||||||||||||||||||||||||
M. Allowance for Funds Used During Construction | |||||||||||||||||||||||||||||||||||||
AFUDC represents the cost of borrowed and equity funds used to finance construction and is included in the cost of the Regulated companies' utility plant. The portion of AFUDC attributable to borrowed funds is recorded as a reduction of Other Interest Expense, and the AFUDC related to equity funds is recorded as Other Income, Net on the statements of income. AFUDC costs are recovered from customers over the service life of the related plant in the form of increased revenue collected as a result of higher depreciation expense. | |||||||||||||||||||||||||||||||||||||
The Regulated companies' average AFUDC rate is based on a FERC-prescribed formula using the cost of a company's short-term financings and capitalization (preferred stock, long-term debt and common equity), as appropriate. The average rate is applied to average eligible CWIP amounts to calculate AFUDC. | |||||||||||||||||||||||||||||||||||||
NU | For the Years Ended December 31, | ||||||||||||||||||||||||||||||||||||
(Millions of Dollars, except percentages) | 2014 | 2013 | 2012 (1) | ||||||||||||||||||||||||||||||||||
Borrowed Funds | $ | 5.8 | $ | 4.1 | $ | 5.3 | |||||||||||||||||||||||||||||||
Equity Funds | 13.7 | 7.1 | 6.8 | ||||||||||||||||||||||||||||||||||
Total AFUDC | $ | 19.5 | $ | 11.2 | $ | 12.1 | |||||||||||||||||||||||||||||||
Average AFUDC Rate | 3.40% | 2.70% | 3.70% | ||||||||||||||||||||||||||||||||||
(1) NSTAR amounts were included in NU beginning April 10, 2012. | |||||||||||||||||||||||||||||||||||||
For the Years Ended December 31, | |||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||
(Millions of Dollars, | NSTAR | NSTAR | NSTAR | ||||||||||||||||||||||||||||||||||
except percentages) | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | |||||||||||||||||||||||||
Borrowed Funds | $ | 1.9 | $ | 2 | $ | 0.6 | $ | 0.9 | $ | 2.2 | $ | 0.5 | $ | 0.5 | $ | 0.5 | $ | 2.5 | $ | 0.3 | $ | 1.6 | $ | 0.5 | |||||||||||||
Equity Funds | 2.9 | 3.8 | 0.6 | 1.7 | 2.9 | - | 0.2 | 1 | 1.9 | - | 1.9 | 1 | |||||||||||||||||||||||||
Total AFUDC | $ | 4.8 | $ | 5.8 | $ | 1.2 | $ | 2.6 | $ | 5.1 | $ | 0.5 | $ | 0.7 | $ | 1.5 | $ | 4.4 | $ | 0.3 | $ | 3.5 | $ | 1.5 | |||||||||||||
Average AFUDC Rate | 3.40% | 2.50% | 1.80% | 5.60% | 3.70% | 0.50% | 1.10% | 6.10% | 3.60% | 0.40% | 5.90% | 6.80% | |||||||||||||||||||||||||
N. 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. For further information on AFUDC related to equity funds, see Note 1M, "Summary of Significant Accounting Policies – Allowance for Funds Used During Construction," to the financial statements. | |||||||||||||||||||||||||||||||||||||
O. 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 Years Ended December 31, | |||||||||||||||||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
NU | $ | 148.2 | $ | 144.1 | $ | 135 | |||||||||||||||||||||||||||||||
CL&P | 127.9 | 128.2 | 120.7 | ||||||||||||||||||||||||||||||||||
Certain sales taxes are 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. | |||||||||||||||||||||||||||||||||||||
P. | Supplemental Cash Flow Information | ||||||||||||||||||||||||||||||||||||
NU | As of and For the Years Ended December 31, | ||||||||||||||||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | 2012 (1) | ||||||||||||||||||||||||||||||||||
Cash Paid/(Received) During the Year for: | |||||||||||||||||||||||||||||||||||||
Interest, Net of Amounts Capitalized | $ | 349.6 | $ | 343.3 | $ | 356.5 | |||||||||||||||||||||||||||||||
Income Taxes | 334.2 | 50 | -12.8 | ||||||||||||||||||||||||||||||||||
Non-Cash Investing Activities: | |||||||||||||||||||||||||||||||||||||
Plant Additions Included in Accounts Payable (As of) | 181.9 | 193.1 | 160.6 | ||||||||||||||||||||||||||||||||||
(1) NSTAR amounts were included in NU beginning April 10, 2012. | |||||||||||||||||||||||||||||||||||||
As of and For the Years Ended December 31, | |||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||
NSTAR | NSTAR | NSTAR | |||||||||||||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | |||||||||||||||||||||||||
Cash Paid/(Received) During the Year for: | |||||||||||||||||||||||||||||||||||||
Interest, Net of Amounts Capitalized | $ | 144.1 | $ | 75.3 | $ | 41.1 | $ | 25.9 | $ | 131.6 | $ | 75.8 | $ | 43.3 | $ | 25.8 | $ | 129.4 | $ | 94.6 | $ | 49.8 | $ | 25.8 | |||||||||||||
Income Taxes | 135.4 | 217.1 | 2.3 | 25.1 | 55 | 163.4 | -30.1 | -69 | -42 | 88.1 | 14.7 | -8.4 | |||||||||||||||||||||||||
Non-Cash Investing Activities: | |||||||||||||||||||||||||||||||||||||
Plant Additions Included in Accounts Payable (As of) | 63.5 | 34.6 | 39.3 | 14.2 | 51.4 | 57 | 34.9 | 19.5 | 42.8 | 50 | 16.8 | 30 | |||||||||||||||||||||||||
In 2014, as a result of damages awarded to the Yankee Companies for spent nuclear fuel lawsuits against the DOE described in Note 11C, "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. | |||||||||||||||||||||||||||||||||||||
The merger of NU with NSTAR on April 10, 2012 represented a significant non-cash transaction. Refer to Note 21, "Merger of NU and NSTAR," for further information. | |||||||||||||||||||||||||||||||||||||
Q. Related Parties | |||||||||||||||||||||||||||||||||||||
NUSCO, NU's service company, provides centralized accounting, administrative, engineering, financial, information technology, legal, operational, planning, purchasing, and other services to NU's companies. The Rocky River Realty Company, Renewable Properties, Inc. and Properties, Inc., three other NU subsidiaries, construct, acquire or lease some of the property and facilities used by NU's companies. | |||||||||||||||||||||||||||||||||||||
As of both December 31, 2014 and 2013, CL&P, PSNH and WMECO had long-term receivables from NUSCO in the amounts of $25 million, $3.8 million and $5.5 million, respectively, which were included in Other Long-Term Assets on the balance sheets. These amounts related to the funding of investments held in trust by NUSCO in connection with certain postretirement benefits for CL&P, PSNH and WMECO employees and have been eliminated in consolidation on the NU financial statements. | |||||||||||||||||||||||||||||||||||||
Included in the CL&P, NSTAR Electric, PSNH and WMECO balance sheets as of December 31, 2014 and 2013 were Accounts Receivable from Affiliated Companies and Accounts Payable to Affiliated Companies relating to transactions between CL&P, NSTAR Electric, PSNH and WMECO and other subsidiaries that are wholly-owned by NU. These amounts have been eliminated in consolidation on the NU financial statements. | |||||||||||||||||||||||||||||||||||||
R. Severance Benefits | |||||||||||||||||||||||||||||||||||||
For the years ended December 31, 2014 and 2013, NU recorded severance benefit expenses of $15 million and $9.7 million, respectively, in connection with the partial outsourcing of information technology functions and facilities closures, as well as ongoing post-merger integration. As of December 31, 2014 and 2013, the severance accrual totaled $10.4 million and $14.7 million, respectively, and was included in Other Current Liabilities on the balance sheets. |
REGULATORY_ACCOUNTING
REGULATORY ACCOUNTING | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 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: | |||||||||||||||||||||||||
NU | As of December 31, | ||||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | |||||||||||||||||||||||
Benefit Costs | $ | 2,016.00 | $ | 1,240.20 | |||||||||||||||||||||
Derivative Liabilities | 425.5 | 638 | |||||||||||||||||||||||
Income Taxes, Net | 635.3 | 626.2 | |||||||||||||||||||||||
Storm Restoration Costs | 502.8 | 589.6 | |||||||||||||||||||||||
Goodwill-related | 505.4 | 525.9 | |||||||||||||||||||||||
Regulatory Tracker Mechanisms | 350.5 | 323.4 | |||||||||||||||||||||||
Contractual Obligations - Yankee Companies | 123.8 | 154.2 | |||||||||||||||||||||||
Buy Out Agreements for Power Contracts | 42.6 | 70.2 | |||||||||||||||||||||||
Other Regulatory Assets | 124.7 | 126.8 | |||||||||||||||||||||||
Total Regulatory Assets | 4,726.60 | 4,294.50 | |||||||||||||||||||||||
Less: Current Portion | 672.5 | 535.8 | |||||||||||||||||||||||
Total Long-Term Regulatory Assets | $ | 4,054.10 | $ | 3,758.70 | |||||||||||||||||||||
As of December 31, | |||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
NSTAR | NSTAR | ||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | |||||||||||||||||
Benefit Costs | $ | 445.4 | $ | 515.9 | $ | 174.3 | $ | 85 | $ | 297.7 | $ | 496.7 | $ | 100.6 | $ | 57.3 | |||||||||
Derivative Liabilities | 410.9 | 4.5 | - | - | 630.4 | 7.7 | - | - | |||||||||||||||||
Income Taxes, Net | 437.7 | 83.7 | 38 | 35.5 | 415.5 | 84 | 40.3 | 43.7 | |||||||||||||||||
Storm Restoration Costs | 319.6 | 103.7 | 47.7 | 31.8 | 397.8 | 109.3 | 43.7 | 38.8 | |||||||||||||||||
Goodwill-related | - | 433.9 | - | - | - | 451.5 | - | - | |||||||||||||||||
Regulatory Tracker Mechanisms | 16.1 | 141.4 | 103.5 | 33 | 8 | 169.5 | 83.3 | 32.6 | |||||||||||||||||
Buy Out Agreements for Power Contracts | - | 38.6 | 4 | - | - | 64.7 | 5.5 | - | |||||||||||||||||
Other Regulatory Assets | 66.1 | 56.1 | 37.3 | 12.9 | 64.6 | 55.9 | 38.1 | 16.7 | |||||||||||||||||
Total Regulatory Assets | 1,695.80 | 1,377.80 | 404.8 | 198.2 | 1,814.00 | 1,439.30 | 311.5 | 189.1 | |||||||||||||||||
Less: Current Portion | 220.3 | 198.7 | 111.7 | 51.9 | 150.9 | 204.1 | 92.2 | 43 | |||||||||||||||||
Total Long-Term Regulatory Assets | $ | 1,475.50 | $ | 1,179.10 | $ | 293.1 | $ | 146.3 | $ | 1,663.10 | $ | 1,235.20 | $ | 219.3 | $ | 146.1 | |||||||||
Regulatory Costs in Other Long-Term Assets: The Regulated companies had $60.5 million ($1.3 million for CL&P, $33.2 million for NSTAR Electric, $0.9 million for PSNH, and $11 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 December 31, 2014 and 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. The NSTAR Electric balance as of December 31, 2014 and 2013 primarily related to costs deferred in connection with the basic service bad debt adder. See Note 11G, "Commitments and Contingencies – Basic Service Bad Debt Adder," for further information. | |||||||||||||||||||||||||
Equity Return on Regulatory Assets: For rate-making purposes, the Regulated companies recover the carrying costs related to their regulatory assets. For certain regulatory assets, the carrying cost recovered includes an equity return component. This equity return, which is not recorded on the balance sheets, totaled $1.7 million and $1.9 million for CL&P and $43.3 million and $33.1 million for PSNH as of December 31, 2014 and 2013, respectively. These carrying costs will be recovered from customers in future rates. | |||||||||||||||||||||||||
Regulatory Assets - The following provides further information about regulatory assets: | |||||||||||||||||||||||||
Benefit Costs: NU's Pension, SERP and PBOP Plans are accounted for in accordance with accounting guidance on defined benefit pension and other PBOP plans. The liability recorded by the Regulated companies to recognize the funded status of their retiree benefit plans are offset by regulatory assets in lieu of a charge to Accumulated Other Comprehensive Income/(Loss), reflecting ultimate recovery from customers through rates. All amounts are remeasured annually. Regulatory accounting was also applied to the portions of NU's service company costs that support the Regulated companies, as these amounts are also recoverable. As these regulatory assets do not represent a cash outlay for the Regulated companies, no carrying charge is recovered from customers. | |||||||||||||||||||||||||
The increase in the funded status liability of the retiree benefit plans and the corresponding regulatory assets was primarily driven by a change in mortality assumptions, which increased the estimate of benefits to be provided to plan participants, and a decrease in the discount rate assumption. For further information on the funded status liability and related regulatory assets of the Pension, SERP and PBOP plans, see Note 9A, "Employee Benefits – Pension Benefits and Postretirement Benefits Other Than Pensions." | |||||||||||||||||||||||||
CL&P, NSTAR Electric, PSNH and WMECO recover benefit costs related to their distribution and transmission operations from customers in rates as allowed by their applicable regulatory commissions. NSTAR Electric and WMECO each recover their qualified pension and PBOP expenses related to distribution operations through rate reconciling mechanisms that fully track the change in net pension and PBOP expenses each year. | |||||||||||||||||||||||||
Derivative Liabilities: Regulatory assets recorded as an offset to derivative liabilities relate to the fair value of contracts used to purchase energy and energy-related products that will be recovered from customers in future rates. See Note 4, "Derivative Instruments," to the financial statements for further information. These assets are excluded from rate base and are being recovered as the actual settlements occur over the duration of the contracts. | |||||||||||||||||||||||||
Income Taxes, Net: The tax effect of temporary book-tax differences (differences between the periods in which transactions affect income in the financial statements and the periods in which they affect the determination of taxable income, including those differences relating to uncertain tax positions) is accounted for in accordance with the rate-making treatment of the applicable regulatory commissions and accounting guidance for income taxes. Differences in income taxes between the accounting guidance and the rate-making treatment of the applicable regulatory commissions are recorded as regulatory assets. As these assets are offset by deferred income tax liabilities, no carrying charge is collected. For further information regarding income taxes, see Note 10, "Income Taxes," to the financial statements. | |||||||||||||||||||||||||
Storm Restoration Costs: The storm restoration cost deferrals relate to costs incurred at CL&P, NSTAR Electric, PSNH and WMECO that each company expects to recover from customers. A storm must meet certain criteria to be declared a major storm with the criteria specific to each state jurisdiction and utility company. Once a storm is declared major, all qualifying expenses incurred during storm restoration efforts are deferred and recovered from customers. In addition to storm restoration costs, CL&P and PSNH are each allowed to recover storm pre-staging costs in accordance with applicable regulation. | |||||||||||||||||||||||||
CL&P, NSTAR Electric, PSNH and WMECO experienced several significant storm events, including Tropical Storm Irene in 2011, the October 2011 snowstorm, Storm Sandy in 2012 and the February 2013 blizzard. As a result of these storm events, each company suffered extensive damage to its distribution and transmission systems resulting in customer outages. Each company incurred significant costs to repair damage and restore customers' service. In addition, on November 26, 2014, a snowstorm caused damage to the electric delivery systems of PSNH and WMECO. This snowstorm resulted in estimated deferred storm restoration costs of approximately $23 million at PSNH and approximately $3 million at WMECO. The storm restoration cost regulatory asset balance at CL&P, NSTAR Electric, PSNH and WMECO reflects deferrable costs incurred for major storm events. Management believes the storm restoration costs were prudent and meet the criteria for specific cost recovery in Connecticut, Massachusetts and New Hampshire, and that recovery from customers is probable through the applicable regulatory recovery process. | |||||||||||||||||||||||||
Storm Filings: Each electric utility has sought, or is seeking, recovery of its deferred storm restoration costs through its applicable regulatory recovery process. | |||||||||||||||||||||||||
CL&P: As of December 31, 2014, all CL&P deferred storm costs have been reviewed and approved for recovery in distribution rates. | |||||||||||||||||||||||||
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 and ordered CL&P to capitalize approximately $18 million of the deferred storm restoration costs as utility plant, which will be recovered through depreciation expense in future rate proceedings. CL&P will recover the $365 million in its distribution rates over a six-year period that commenced on December 1, 2014. The remaining costs were either disallowed or are probable of recovery from other sources. These costs did not have a material impact on CL&P's financial position, results of operations or cash flows. | |||||||||||||||||||||||||
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 11C, "Commitments and Contingencies - Contractual Obligations - Yankee Companies," to the financial statements. | |||||||||||||||||||||||||
On December 17, 2014, as part of the distribution rate case decision, CL&P was also allowed recovery of the 2013 storm costs and residual 2012 Storm Sandy costs over a seven-year period that commenced on December 1, 2014. | |||||||||||||||||||||||||
NSTAR Electric: On December 30, 2013, the DPU approved recovery of $34.2 million of NSTAR Electric's storm restoration costs, plus carrying costs, related to Tropical Storm Irene in 2011 and the October 2011 snowstorm. NSTAR Electric is recovering these costs, plus carrying costs, in its distribution rates over a five-year period that commenced on January 1, 2014. | |||||||||||||||||||||||||
PSNH: On June 27, 2013, the NHPUC approved an increase to PSNH's distribution rates effective July 1, 2013, which included a $5 million increase to the level of funding for the major storm cost reserve. The major storm cost reserve is used to offset the storm restoration cost regulatory asset. On April 7, 2014, PSNH received an audit report from the NHPUC approving storm costs from 2011 through March 2013. | |||||||||||||||||||||||||
WMECO: On December 20, 2013, the DPU approved WMECO's 2013 Annual Storm Reserve Recovery Cost Adjustment filing to begin recovering the October 2011 snowstorm and 2012 Storm Sandy restoration costs, which commenced on January 1, 2014, subject to further review and reconciliation. On December 5, 2014, the DPU approved the majority of deferred storm costs through 2011. | |||||||||||||||||||||||||
Goodwill-related: The goodwill regulatory asset originated from the transaction that created NSTAR in 1999. This regulatory asset is currently being amortized and recovered from customers in rates without a carrying charge over a 40-year period (as of December 31, 2014, there were 25 years of amortization remaining). | |||||||||||||||||||||||||
Regulatory Tracker Mechanisms: The Regulated companies' approved rates are designed to recover their incurred costs to provide service to customers. The Regulated companies recover certain of their costs on a fully-reconciling basis through regulatory commission-approved tracking mechanisms. The difference between the costs incurred (or the rate recovery allowed) and the actual revenues is recorded as regulatory assets (for undercollections) or regulatory liabilities (for overcollections) to be included in future customer rates each year. Carrying charges are recorded on all material regulatory tracker mechanisms. | |||||||||||||||||||||||||
CL&P, NSTAR Electric, PSNH and WMECO each recover the costs associated with the procurement of energy, transmission related costs from FERC-approved transmission tariffs, energy efficiency programs, low income assistance programs, and restructuring and stranded costs as a result of deregulation, on a fully reconciling basis. Energy procurement costs at PSNH include the costs related to its generating stations. | |||||||||||||||||||||||||
WMECO's and CL&P's (effective December 1, 2014) distribution revenue is decoupled from their customer sales volume. CL&P and WMECO reconcile their annual base distribution rate recovery to a pre-established level of baseline distribution delivery service revenue. Any difference between the allowed level of distribution revenue and the actual amount incurred during a 12-month period is adjusted through rates in the following period. | |||||||||||||||||||||||||
Contractual Obligations - Yankee Companies: CL&P, NSTAR Electric, PSNH and WMECO are responsible for their proportionate share of the remaining costs of the CYAPC, YAEC and MYAPC nuclear facilities, including nuclear fuel storage. A portion of these amounts was recorded as a regulatory asset. Amounts for CL&P are earning a return and are being recovered through the CTA. Amounts for NSTAR Electric and WMECO are being recovered without a return through the transition charge. Amounts for PSNH were fully recovered in 2006. As a result of NU's consolidation of CYAPC and YAEC, NU's regulatory asset balance also includes the regulatory assets of CYAPC and YAEC, which totaled $97.8 million and $129.8 million as of December 31, 2014 and 2013, respectively. 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. | |||||||||||||||||||||||||
Buy Out Agreements for Power Contracts: NSTAR Electric's balance represents the contract termination liability related to certain purchase power contract buy out agreements that were executed in 2004. The contracts' termination payments occur through September 2016 and are collected from customers through NSTAR Electric's transition charge over the same period. NSTAR Electric does not earn a return on this regulatory asset. PSNH's balance represents payments associated with the termination of various power purchase contracts that were recorded as regulatory assets and are amortized over the remaining life of the contracts. | |||||||||||||||||||||||||
Other Regulatory Assets: Other Regulatory Assets primarily include asset retirement obligations, environmental remediation costs, losses associated with the reacquisition or redemption of long-term debt and various other items, partially offset by purchase price adjustments recorded as Regulatory Assets in connection with the merger with NSTAR. | |||||||||||||||||||||||||
Regulatory Liabilities: The components of regulatory liabilities are as follows: | |||||||||||||||||||||||||
NU | As of December 31, | ||||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | |||||||||||||||||||||||
Cost of Removal | $ | 439.9 | $ | 435.1 | |||||||||||||||||||||
Regulatory Tracker Mechanisms | 192.3 | 151.2 | |||||||||||||||||||||||
AFUDC - Transmission | 67.1 | 68.1 | |||||||||||||||||||||||
Other Regulatory Liabilities | 50.8 | 52.9 | |||||||||||||||||||||||
Total Regulatory Liabilities | 750.1 | 707.3 | |||||||||||||||||||||||
Less: Current Portion | 235 | 204.3 | |||||||||||||||||||||||
Total Long-Term Regulatory Liabilities | $ | 515.1 | $ | 503 | |||||||||||||||||||||
As of December 31, | |||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
NSTAR | NSTAR | ||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | |||||||||||||||||
Cost of Removal | $ | 19.7 | $ | 258.3 | $ | 50.3 | $ | 1.1 | $ | 29.1 | $ | 250 | $ | 49.7 | $ | - | |||||||||
Regulatory Tracker Mechanisms | 122.6 | 20.7 | 14.2 | 22.3 | 95.6 | 21.9 | 21.6 | 21.1 | |||||||||||||||||
AFUDC - Transmission | 53.6 | 4.4 | - | 9.1 | 54.7 | 4.1 | - | 9.3 | |||||||||||||||||
Other Regulatory Liabilities | 10.1 | 28.9 | 2.9 | 0.8 | 8.4 | 31.1 | 1 | 3.4 | |||||||||||||||||
Total Regulatory Liabilities | 206 | 312.3 | 67.4 | 33.3 | 187.8 | 307.1 | 72.3 | 33.8 | |||||||||||||||||
Less: Current Portion | 124.7 | 49.6 | 16 | 22.5 | 94 | 54 | 20.6 | 19.9 | |||||||||||||||||
Total Long-Term Regulatory Liabilities | $ | 81.3 | $ | 262.7 | $ | 51.4 | $ | 10.8 | $ | 93.8 | $ | 253.1 | $ | 51.7 | $ | 13.9 | |||||||||
Cost of Removal: NU's Regulated companies currently recover amounts in rates for future costs of removal of plant assets over the lives of the assets. The estimated cost to remove utility assets from service is recognized as a component of depreciation expense and the cumulative amounts collected from customers but not yet expended is recognized as a regulatory liability. Expended costs that exceed amounts collected from customers are recognized as regulatory assets, as they are probable of recovery in future rates. | |||||||||||||||||||||||||
AFUDC - Transmission: AFUDC was recorded by CL&P and WMECO for their NEEWS projects through May 31, 2011, all of which was reserved as a regulatory liability to reflect rate base recovery for 100 percent of the CWIP as a result of FERC-approved transmission incentives. Effective June 1, 2011, FERC approved changes to the ISO-NE Tariff in order to include 100 percent of the NEEWS CWIP in regional rate base. As a result, CL&P and WMECO no longer record AFUDC on NEEWS CWIP. NSTAR Electric recorded AFUDC on reliability-related projects over $5 million through December 31, 2014, 50 percent of which was recorded as a regulatory liability to reflect rate base recovery for 50 percent of the CWIP as a result of FERC-approved transmission incentives. | |||||||||||||||||||||||||
Other Regulatory Liabilities: Other Regulatory Liabilities primarily includes amounts that are subject to various rate reconciling mechanisms that, as of each period end date, would result in refunds to customers. | |||||||||||||||||||||||||
2014 Regulatory Developments: As a result of actions taken by the FERC and other developments in the pending base ROE complaint proceedings described in Note 11E, "Commitments and Contingencies – FERC Base ROE Complaints," in 2014 the Company recorded reserves at its electric subsidiaries to recognize the potential financial impact of the first and second complaints. As of December 31, 2014, the cumulative pre-tax reserves (excluding interest), which exclude refunds for the first complaint refund period, totaled $60.7 million at NU, $33.5 million at CL&P, $13.6 million at NSTAR Electric, $5.1 million at PSNH and $8.5 million at WMECO. As of December 31, 2013, as a result of the 2013 FERC ALJ initial decision, 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 as a regulatory liability in Regulatory Tracker Mechanisms 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 11C, "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 Regulatory Tracker Mechanisms. Refunds to customers for these DOE proceeds began in 2014. | |||||||||||||||||||||||||
On December 31, 2014, NSTAR Electric, NSTAR Gas and the Massachusetts Attorney General filed a comprehensive settlement agreement with the DPU. The comprehensive settlement agreement included resolution of the outstanding NSTAR Electric CPSL program filings for the periods 2006 through 2011, the NSTAR Electric and NSTAR Gas PAM and energy efficiency-related customer billing adjustments reported in 2012, and the NSTAR Electric energy efficiency program filings regarding LBR for the periods 2008 through 2011. If approved by the DPU, NSTAR Electric and NSTAR Gas will be required to refund a total of $44.7 million to their respective customers, which was included in Regulatory Tracker Mechanisms and Other Regulatory Liabilities as of December 31, 2014. For further information, see Note 11F, "Commitments and Contingencies – 2014 Comprehensive Settlement Agreement." |
PROPERTY_PLANT_AND_ACCUMULATED
PROPERTY, PLANT AND ACCUMULATED DEPRECIATION | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ||||||||||||||||||||||||
Property Plant And Equipment Disclosure [Text Block] | 3. PROPERTY, PLANT AND EQUIPMENT AND ACCUMULATED DEPRECIATION | |||||||||||||||||||||||
Utility property, plant and equipment is recorded at original cost. Original cost includes materials, labor, construction overhead and AFUDC for regulated property. The cost of repairs and maintenance, including planned major maintenance activities, is charged to Operating Expenses as incurred. | ||||||||||||||||||||||||
The following tables summarize the investments in utility property, plant and equipment by asset category: | ||||||||||||||||||||||||
NU | As of December 31, | |||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | ||||||||||||||||||||||
Distribution - Electric | $ | 12,495.20 | $ | 11,950.20 | ||||||||||||||||||||
Distribution - Natural Gas | 2,595.40 | 2,425.90 | ||||||||||||||||||||||
Transmission | 6,930.70 | 6,412.50 | ||||||||||||||||||||||
Generation | 1,170.90 | 1,152.30 | ||||||||||||||||||||||
Electric and Natural Gas Utility | 23,192.20 | 21,940.90 | ||||||||||||||||||||||
Other (1) | 551.3 | 508.7 | ||||||||||||||||||||||
Property, Plant and Equipment, Gross | 23,743.50 | 22,449.60 | ||||||||||||||||||||||
Less: Accumulated Depreciation | ||||||||||||||||||||||||
Electric and Natural Gas Utility | -5,777.80 | -5,387.00 | ||||||||||||||||||||||
Other | -231.8 | -196.2 | ||||||||||||||||||||||
Total Accumulated Depreciation | -6,009.60 | -5,583.20 | ||||||||||||||||||||||
Property, Plant and Equipment, Net | 17,733.90 | 16,866.40 | ||||||||||||||||||||||
Construction Work in Progress | 913.1 | 709.8 | ||||||||||||||||||||||
Total Property, Plant and Equipment, Net | $ | 18,647.00 | $ | 17,576.20 | ||||||||||||||||||||
(1) These assets are primarily comprised of building improvements, computer software, hardware and equipment and telecommunications assets at NU's service company and unregulated companies. | ||||||||||||||||||||||||
As of December 31, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
NSTAR | NSTAR | |||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | ||||||||||||||||
Distribution | $ | 5,158.80 | $ | 4,895.50 | $ | 1,696.70 | $ | 784.2 | $ | 4,930.70 | $ | 4,694.70 | $ | 1,608.20 | $ | 756.6 | ||||||||
Transmission | 3,274.00 | 1,928.50 | 789.7 | 891 | 3,071.90 | 1,772.30 | 695.7 | 826.4 | ||||||||||||||||
Generation | - | - | 1,136.50 | 34.4 | - | - | 1,131.20 | 21.1 | ||||||||||||||||
Property, Plant and Equipment, Gross | 8,432.80 | 6,824.00 | 3,622.90 | 1,709.60 | 8,002.60 | 6,467.00 | 3,435.10 | 1,604.10 | ||||||||||||||||
Less: Accumulated Depreciation | -1,928.00 | -1,761.40 | -1,090.00 | -297.4 | -1,804.10 | -1,631.30 | -1,021.80 | -271.5 | ||||||||||||||||
Property, Plant and Equipment, Net | 6,504.80 | 5,062.60 | 2,532.90 | 1,412.20 | 6,198.50 | 4,835.70 | 2,413.30 | 1,332.60 | ||||||||||||||||
Construction Work in Progress | 304.9 | 272.8 | 102.9 | 49.1 | 252.8 | 208.2 | 54.3 | 48.5 | ||||||||||||||||
Total Property, Plant and Equipment, Net | $ | 6,809.70 | $ | 5,335.40 | $ | 2,635.80 | $ | 1,461.30 | $ | 6,451.30 | $ | 5,043.90 | $ | 2,467.60 | $ | 1,381.10 | ||||||||
Depreciation of utility assets is calculated on a straight-line basis using composite rates based on the estimated remaining useful lives of the various classes of property (estimated useful life for PSNH distribution). The composite rates are subject to approval by the appropriate state regulatory agency. The composite rates include a cost of removal component, which is collected from customers over the lives of the plant assets and is recognized as a regulatory liability. Depreciation rates are applied to property from the time it is placed in service. | ||||||||||||||||||||||||
Upon retirement from service, the cost of the utility asset is charged to the accumulated provision for depreciation. The actual incurred removal costs are applied against the related regulatory liability. | ||||||||||||||||||||||||
The depreciation rates for the various classes of utility property, plant and equipment aggregate to composite rates as follows: | ||||||||||||||||||||||||
(Percent) | 2014 | 2013 | 2012 | |||||||||||||||||||||
NU | 3 | % | 2.8 | % | 2.5 | % | ||||||||||||||||||
CL&P | 2.7 | 2.5 | 2.5 | |||||||||||||||||||||
NSTAR Electric | 3 | 2.9 | 2.8 | |||||||||||||||||||||
PSNH | 3 | 3 | 3 | |||||||||||||||||||||
WMECO | 3.3 | 2.9 | 3.3 | |||||||||||||||||||||
The following table summarizes average useful lives of depreciable assets: | ||||||||||||||||||||||||
Average Depreciable Life | ||||||||||||||||||||||||
(Years) | NU | CL&P | NSTAR Electric | PSNH | WMECO | |||||||||||||||||||
Distribution | 34.9 | 37.5 | 32.3 | 32.3 | 30.9 | |||||||||||||||||||
Transmission | 42.5 | 39.8 | 44 | 43.7 | 49.9 | |||||||||||||||||||
Generation | 31.9 | - | - | 32.1 | 25 | |||||||||||||||||||
Other | 14.2 | - | - | - | - |
DERIVATIVE_INSTRUMENTS
DERIVATIVE INSTRUMENTS | 12 Months Ended | |||||||||||||||||||
Dec. 31, 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 contract settlements 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 table presents 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 December 31, | ||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||
Commodity Supply | Net Amount | Commodity Supply | Net Amount | |||||||||||||||||
and Price Risk | Recorded as | and Price Risk | Recorded as | |||||||||||||||||
(Millions of Dollars) | Management | Netting (1) | a Derivative | Management | Netting (1) | a Derivative | ||||||||||||||
Current Derivative Assets: | ||||||||||||||||||||
Level 2: | ||||||||||||||||||||
NU | $ | - | $ | - | $ | - | $ | 1.9 | $ | -0.3 | $ | 1.6 | ||||||||
Level 3: | ||||||||||||||||||||
NU | 16.2 | -6.6 | 9.6 | 18.4 | -9.8 | 8.6 | ||||||||||||||
CL&P | 16.1 | -6.6 | 9.5 | 17.1 | -9.8 | 7.3 | ||||||||||||||
NSTAR Electric | 0.1 | - | 0.1 | 1.2 | - | 1.2 | ||||||||||||||
Long-Term Derivative Assets: | ||||||||||||||||||||
Level 2: | ||||||||||||||||||||
NU | $ | - | $ | - | $ | - | $ | 0.2 | $ | - | $ | 0.2 | ||||||||
Level 3: | ||||||||||||||||||||
NU | 93.5 | -19.2 | 74.3 | 116.2 | -42.2 | 74 | ||||||||||||||
CL&P | 93.5 | -19.2 | 74.3 | 113.6 | -42.2 | 71.4 | ||||||||||||||
Current Derivative Liabilities: | ||||||||||||||||||||
Level 2: | ||||||||||||||||||||
NU | $ | -9.8 | $ | - | $ | -9.8 | $ | - | $ | - | $ | - | ||||||||
Level 3: | ||||||||||||||||||||
NU | -90 | - | -90 | -93.7 | - | -93.7 | ||||||||||||||
CL&P | -88.5 | - | -88.5 | -92.2 | - | -92.2 | ||||||||||||||
NSTAR Electric | -1.5 | - | -1.5 | -1.5 | - | -1.5 | ||||||||||||||
Long-Term Derivative Liabilities: | ||||||||||||||||||||
Level 2: | ||||||||||||||||||||
NU | $ | -0.3 | $ | - | $ | -0.3 | $ | - | $ | - | $ | - | ||||||||
Level 3: | ||||||||||||||||||||
NU | -409.3 | - | -409.3 | -624.1 | - | -624.1 | ||||||||||||||
CL&P | -406.2 | - | -406.2 | -617.1 | - | -617.1 | ||||||||||||||
NSTAR Electric | -3.1 | - | -3.1 | -7 | - | -7 | ||||||||||||||
(1) 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. | ||||||||||||||||||||
The business activities that result in the recognition of derivative assets also create exposure to various counterparties. As of December 31, 2014, NU and CL&P's derivative assets were exposed to counterparty credit risk. Of NU's and CL&P's derivative assets, $64 million was contracted with investment grade entities. | ||||||||||||||||||||
For further information on the fair value of derivative contracts, see Note 1H, "Summary of Significant Accounting Policies - Fair Value Measurements," and Note 1I, "Summary of Significant Accounting Policies - Derivative Accounting," to the financial statements. | ||||||||||||||||||||
Derivative Contracts 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 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 December 31, 2014 and 2013, NU had NYMEX future contracts in order to reduce variability associated with the purchase price of approximately 8.8 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: | ||||||||||||||||||||
Gain/(Loss) Recognized on Derivatives | ||||||||||||||||||||
(Millions of Dollars) | For the Years Ended December 31, | |||||||||||||||||||
NU | 2014 | 2013 | 2012 | |||||||||||||||||
Balance Sheets: | ||||||||||||||||||||
Regulatory Assets and Liabilities | $ | 134.4 | $ | 160.6 | $ | -29 | ||||||||||||||
Statements of Income: | ||||||||||||||||||||
Purchased Power, Fuel and Transmission | - | 1 | -0.7 | |||||||||||||||||
Credit Risk | ||||||||||||||||||||
Certain of NU's derivative contracts contain credit risk contingent features. These features require NU to maintain investment grade credit ratings from the major rating agencies and to post collateral for contracts in a net liability position over specified credit limits. As of December 31, 2014, NU had approximately $10 million of derivative contracts in a net liability position that were subject to credit risk contingent features and would have been required to post additional collateral of approximately $10 million if NU parent's unsecured debt credit ratings had been downgraded to below investment grade. As of December 31, 2013, there were no derivative contracts in a net liability position that were subject to credit risk contingent features. | ||||||||||||||||||||
Fair Value Measurements 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 December 31, | ||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||
Range | Period Covered | Range | Period Covered | |||||||||||||||||
Energy Prices: | ||||||||||||||||||||
NU | $ | 52 | per MWh | 2020 | $ | 49 | - | 77 | per MWh | 2018 - 2029 | ||||||||||
CL&P | $ | 52 | per MWh | 2020 | $ | 56 | - | 58 | per MWh | 2018 - 2029 | ||||||||||
Capacity Prices: | ||||||||||||||||||||
NU | $ | 5.3 | - | 12.98 | per kW-Month | 2016 - 2026 | $ | 5.07 | - | 11.82 | per kW-Month | 2017 - 2029 | ||||||||
CL&P | $ | 11.08 | - | 12.98 | per kW-Month | 2018 - 2026 | $ | 5.07 | - | 10.42 | per kW-Month | 2017 - 2026 | ||||||||
NSTAR Electric | $ | 5.3 | - | 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 | 2015 - 2024 | $ | 3.3 | per kW-Month | 2014 - 2024 | ||||||||||
REC Prices: | ||||||||||||||||||||
NU | $ | 38 | - | 56 | per REC | 2015 - 2018 | $ | 36 | - | 87 | per REC | 2014 - 2029 | ||||||||
NSTAR Electric | $ | 38 | - | 56 | per REC | 2015 - 2018 | $ | 36 | - | 70 | per REC | 2014 - 2018 | ||||||||
Exit price premiums of 7 percent through 24 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. | ||||||||||||||||||||
(Millions of Dollars) | NU | CL&P | NSTAR Electric | |||||||||||||||||
Derivatives, Net: | ||||||||||||||||||||
Fair Value as of January 1, 2013 | $ | -878.6 | $ | -866.2 | $ | -14.9 | ||||||||||||||
Net Realized/Unrealized Gains Included in: | ||||||||||||||||||||
Net Income (1) | 10.9 | - | - | |||||||||||||||||
Regulatory Assets and Liabilities | 158.3 | 148.9 | 3.5 | |||||||||||||||||
Settlements | 74.2 | 86.7 | 4.1 | |||||||||||||||||
Fair Value as of December 31, 2013 | $ | -635.2 | $ | -630.6 | $ | -7.3 | ||||||||||||||
Net Realized/Unrealized Gains Included in Regulatory Assets and Liabilities | 141.3 | 139.7 | 4.3 | |||||||||||||||||
Settlements | 78.5 | 80 | -1.5 | |||||||||||||||||
Fair Value as of December 31, 2014 | $ | -415.4 | $ | -410.9 | $ | -4.5 | ||||||||||||||
The Net Income impact for the year ended December 31, 2013 related to the unregulated wholesale marketing sales contract that was offset by the losses on the unregulated sourcing contracts classified as Level 2 in the fair value hierarchy, resulting in a total net gain of $1 million. | ||||||||||||||||||||
MARKETABLE_SECURITIES
MARKETABLE SECURITIES | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 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. | |||||||||||||||||||||||||
The Company elected to record mutual funds 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 December 31, 2014 and 2013, the mutual funds and equity investments were classified as Level 1 in the fair value hierarchy and totaled $85.1 million and $57.2 million, respectively. For the years ended December 31, 2014, 2013 and 2012, net gains on these securities of $1.9 million, $10.2 million and $5.9 million, respectively, were recorded in Other Income, Net on the statements of income. Dividend income is recorded in Other Income, Net 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 are included in current and long-term Marketable Securities on the balance sheets. | |||||||||||||||||||||||||
As of December 31, | |||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
Pre-Tax | Pre-Tax | Pre-Tax | Pre-Tax | ||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Amortized | Unrealized | Unrealized | ||||||||||||||||||||
(Millions of Dollars) | Cost | Gains | Losses | Fair Value | Cost | Gains | Losses | Fair Value | |||||||||||||||||
NU | |||||||||||||||||||||||||
Debt Securities (1) | $ | 313 | $ | 7.5 | $ | -0.3 | $ | 320.2 | $ | 299.2 | $ | 2.5 | $ | -2.1 | $ | 299.6 | |||||||||
Equity Securities (1) | 160.6 | 73.3 | - | 233.9 | 163.6 | 60.5 | - | 224.1 | |||||||||||||||||
WMECO | |||||||||||||||||||||||||
Debt Securities (2) | 58.2 | - | -0.1 | 58.1 | 57.9 | - | - | 57.9 | |||||||||||||||||
NU's amounts include CYAPC's and YAEC's marketable securities held in nuclear decommissioning trusts of $450.8 million and $424 million as of December 31, 2014 and 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 recorded in Marketable Securities with the corresponding offset to 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 Marketable Securities with the corresponding offset to 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 December 31, 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) | $ | 55 | $ | 55 | $ | 28.7 | $ | 28.7 | |||||||||||||||||
One to five years | 88.8 | 89.1 | 25.8 | 25.8 | |||||||||||||||||||||
Six to ten years | 66 | 67.7 | 0.7 | 0.7 | |||||||||||||||||||||
Greater than ten years | 103.2 | 108.4 | 3 | 2.9 | |||||||||||||||||||||
Total Debt Securities | $ | 313 | $ | 320.2 | $ | 58.2 | $ | 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 December 31, | As of December 31, | ||||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Level 1: | |||||||||||||||||||||||||
Mutual Funds and Equities | $ | 319 | $ | 281.3 | $ | - | $ | - | |||||||||||||||||
Money Market Funds | 24.9 | 32.9 | 4.3 | 10.9 | |||||||||||||||||||||
Total Level 1 | $ | 343.9 | $ | 314.2 | $ | 4.3 | $ | 10.9 | |||||||||||||||||
Level 2: | |||||||||||||||||||||||||
U.S. Government Issued Debt Securities (Agency and Treasury) | $ | 51.3 | $ | 61.4 | $ | - | $ | 6.8 | |||||||||||||||||
Corporate Debt Securities | 49.1 | 53.6 | 14.7 | 15.1 | |||||||||||||||||||||
Asset-Backed Debt Securities | 54.1 | 30.4 | 14.5 | 9 | |||||||||||||||||||||
Municipal Bonds | 116.3 | 105.5 | 13 | 11.2 | |||||||||||||||||||||
Other Fixed Income Securities | 24.5 | 15.8 | 11.6 | 4.9 | |||||||||||||||||||||
Total Level 2 | $ | 295.3 | $ | 266.7 | $ | 53.8 | $ | 47 | |||||||||||||||||
Total Marketable Securities | $ | 639.2 | $ | 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. |
ASSET_RETIREMENT_OBLIGATIONS
ASSET RETIREMENT OBLIGATIONS | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ||||||||||||||||||||||||||||
Asset Retirement Obligation Disclosure [Text Block] | 6. ASSET RETIREMENT OBLIGATIONS | |||||||||||||||||||||||||||
NU, including CL&P, NSTAR Electric, PSNH and WMECO, recognizes a liability for the fair value of an ARO on the obligation date if the liability's fair value can be reasonably estimated and is conditional on a future event. Settlement dates and future costs are reasonably estimated when sufficient information becomes available. Management has identified various categories of AROs, primarily certain assets containing asbestos and hazardous contamination and has performed fair value calculations, reflecting expected probabilities for settlement scenarios. | ||||||||||||||||||||||||||||
The fair value of an ARO is recorded as a liability in Other Long-Term Liabilities with a corresponding amount included in Property, Plant and Equipment, Net on the balance sheets. The ARO assets are depreciated, and the ARO liabilities are accreted over the estimated life of the obligation with corresponding credits recorded as accumulated depreciation and ARO liabilities, respectively. As the Regulated companies are rate-regulated on a cost-of-service basis, these companies apply regulatory accounting guidance and both the depreciation and accretion costs associated with the Regulated companies' AROs are recorded as increases to Regulatory Assets on the balance sheets. | ||||||||||||||||||||||||||||
A reconciliation of the beginning and ending carrying amounts of ARO liabilities are as follows: | ||||||||||||||||||||||||||||
NU | As of December 31, | |||||||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | ||||||||||||||||||||||||||
Balance as of Beginning of Year | $ | 424.9 | $ | 412.2 | ||||||||||||||||||||||||
Liabilities Incurred During the Year | 1.3 | 0.1 | ||||||||||||||||||||||||||
Liabilities Settled During the Year | -19.5 | -13.8 | ||||||||||||||||||||||||||
Accretion | 25.1 | 23.8 | ||||||||||||||||||||||||||
Revisions in Estimated Cash Flows | -5.5 | 2.6 | ||||||||||||||||||||||||||
Balance as of End of Year | $ | 426.3 | $ | 424.9 | ||||||||||||||||||||||||
As of December 31, | ||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||
NSTAR | NSTAR | |||||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | ||||||||||||||||||||
Balance as of Beginning of Year | $ | 35 | $ | 32.8 | $ | 19.5 | $ | 4.5 | $ | 33.6 | $ | 31.4 | $ | 18.4 | $ | 4.3 | ||||||||||||
Liabilities Incurred During the Year | - | - | - | 1.1 | - | - | - | - | ||||||||||||||||||||
Liabilities Settled During the Year | -1.1 | - | - | - | -0.7 | -0.1 | - | - | ||||||||||||||||||||
Accretion | 1.9 | 1.5 | 1.1 | 0.3 | 2.2 | 1.5 | 1.2 | 0.3 | ||||||||||||||||||||
Revisions in Estimated Cash Flows | -0.5 | - | - | - | -0.1 | - | -0.1 | -0.1 | ||||||||||||||||||||
Balance as of End of Year | $ | 35.3 | $ | 34.3 | $ | 20.6 | $ | 5.9 | $ | 35 | $ | 32.8 | $ | 19.5 | $ | 4.5 | ||||||||||||
NU's amounts include CYAPC and YAEC's AROs of $317.3 million and $318.8 million as of December 31, 2014 and 2013, respectively. The fair value of the ARO for CYAPC and YAEC includes uncertainties of the fuel off-load dates related to the DOE's timing of performance regarding its obligation to dispose of the spent nuclear fuel and high level waste. The incremental asset recorded as an offset to the ARO liability was fully depreciated since the plants have no remaining useful life. Any changes in the assumptions used to calculate the fair value of the ARO liability are recorded with a corresponding offset to the related regulatory asset. The assets held in the CYAPC and YAEC nuclear decommissioning trusts are restricted for settling the ARO and all other decommissioning obligations. For further information on the assets held in the nuclear decommissioning trusts, see Note 5, "Marketable Securities," to the financial statements. |
SHORT_TERM_DEBT
SHORT TERM DEBT | 12 Months Ended |
Dec. 31, 2014 | |
Notes To Consolidated Financial Statements [Abstract] | |
Short Term Debt Text Block | 7. SHORT-TERM DEBT |
Short-Term Borrowing Limits: The amount of short-term borrowings that may be incurred by CL&P, NSTAR Electric and WMECO is subject to periodic approval by the FERC. As a result of the NHPUC having jurisdiction over PSNH's short-term debt, PSNH is not currently required to obtain FERC approval for its short-term borrowings. On July 31, 2013, the FERC granted authorization to allow CL&P and WMECO to incur total short-term borrowings up to a maximum of $600 million and $300 million, respectively, effective January 1, 2014 through December 31, 2015. On June 11, 2014, the FERC granted authorization to allow NSTAR Electric to issue total short-term debt securities in an aggregate principal amount not to exceed $655 million outstanding at any one time, effective October 24, 2014 through October 23, 2016. | |
PSNH is authorized by regulation of the NHPUC to incur short-term borrowings up to 10 percent of net fixed plant plus an additional $60 million until further ordered by the NHPUC. As of December 31, 2014, PSNH's short-term debt authorization under the 10 percent of net fixed plant test plus $60 million totaled approximately $306 million. | |
CL&P's certificate of incorporation contains preferred stock provisions restricting the amount of unsecured debt that CL&P may incur, including limiting unsecured indebtedness with a maturity of less than 10 years to 10 percent of total capitalization. As of December 31, 2014, CL&P had $432.1 million of unsecured debt capacity available under this authorization. | |
Yankee Gas and NSTAR Gas are not required to obtain approval from any state or federal authority to incur short-term debt. | |
Credit Agreements and Commercial Paper Programs: NU parent, CL&P, PSNH, WMECO, NSTAR Gas and Yankee Gas are parties to a five-year $1.45 billion revolving credit facility. 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. Effective July 23, 2014, NU parent, CL&P, PSNH, WMECO, NSTAR Gas and Yankee Gas extended the expiration date of their joint revolving credit facility for one additional year to September 6, 2019. CL&P has a borrowing sublimit of $600 million and PSNH and WMECO each have borrowing sublimits of $300 million. As of December 31, 2014 and 2013, NU had approximately $1.1 billion and $1.01 billion, respectively, in short-term borrowings outstanding under the NU parent commercial paper program, leaving $348.9 million and $435.5 million of available borrowing capacity as of December 31, 2014 and 2013, respectively. The weighted-average interest rate on these borrowings as of December 31, 2014 and 2013 was 0.43 percent and 0.24 percent, respectively, which is generally based on A2/P2 rated commercial paper. As of December 31, 2014, there were intercompany loans from NU of $133.4 million to CL&P, $90.5 million to PSNH and $21.4 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. | |
NSTAR Electric has a five-year $450 million revolving credit facility. This facility serves to backstop NSTAR Electric's existing $450 million commercial paper program. Effective July 23, 2014, NSTAR Electric extended the expiration date of its revolving credit facility for one additional year to September 6, 2019. As of December 31, 2014 and 2013, NSTAR Electric had $302 million and $103.5 million, respectively, in short-term borrowings outstanding under its commercial paper program, leaving $148 million and $346.5 million of available borrowing capacity as of December 31, 2014 and 2013, respectively. The weighted-average interest rate on these borrowings as of December 31, 2014 and 2013 was 0.27 percent and 0.13 percent, respectively, which is generally based on A2/P1 rated commercial paper. | |
Except as described below, amounts outstanding under the commercial paper programs are included in Notes Payable for NU and NSTAR Electric and classified in current liabilities on the balance sheets as all borrowings are outstanding for no more than 364 days at one time. Intercompany loans from NU to CL&P, PSNH and WMECO are included in Notes Payable to NU Parent and classified in current liabilities on the balance sheets. Intercompany loans from NU to CL&P, PSNH and WMECO are eliminated in consolidation in NU's balance sheets. | |
On January 15, 2015, NU parent issued $150 million of 1.60 percent Series G Senior Notes due to mature in 2018 and $300 million of 3.15 percent Series H Senior Notes, due to mature in 2025. The proceeds, net of issuance costs, were used to repay short-term borrowings outstanding under the NU commercial paper program. As the debt issuances refinanced short-term debt, the short-term debt was classified as Long-Term Debt as of December 31, 2014. On January 2, 2014, Yankee Gas issued $100 million of Series L First Mortgage Bonds and $25 million of the proceeds was used to repay short-term borrowings outstanding under the NU commercial paper program. As the debt issuance refinanced short-term debt, these amounts were classified as Long-Term Debt on NU's balance sheet as of December 31, 2013. See Note 8, "Long-Term Debt" for further information on these debt issuances. | |
Under the credit facilities, NU and its subsidiaries must comply with certain financial and non-financial covenants, including a consolidated debt to total capitalization ratio. As of December 31, 2014 and 2013, NU and its subsidiaries were in compliance with these covenants. If NU or its subsidiaries were not in compliance with these covenants, an event of default would occur requiring all outstanding borrowings by such borrower to be repaid and additional borrowings by such borrower would not be permitted under its respective credit facility. |
LONGTERM_DEBT
LONG-TERM DEBT | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||||||
Long-term Debt [Text Block] | 8. LONG-TERM DEBT | ||||||||||||||
Details of long-term debt outstanding are as follows: | |||||||||||||||
CL&P | As of December 31, | ||||||||||||||
(Millions of Dollars) | 2014 | 2013 | |||||||||||||
First Mortgage Bonds: | |||||||||||||||
7.875% 1994 Series D due 2024 | $ | 139.8 | $ | 139.8 | |||||||||||
4.800% 2004 Series A due 2014 (1) | - | 150 | |||||||||||||
5.750% 2004 Series B due 2034 | 130 | 130 | |||||||||||||
5.000% 2005 Series A due 2015 | 100 | 100 | |||||||||||||
5.625% 2005 Series B due 2035 | 100 | 100 | |||||||||||||
6.350% 2006 Series A due 2036 | 250 | 250 | |||||||||||||
5.375% 2007 Series A due 2017 | 150 | 150 | |||||||||||||
5.750% 2007 Series B due 2037 | 150 | 150 | |||||||||||||
5.750% 2007 Series C due 2017 | 100 | 100 | |||||||||||||
6.375% 2007 Series D due 2037 | 100 | 100 | |||||||||||||
5.650% 2008 Series A due 2018 | 300 | 300 | |||||||||||||
5.500% 2009 Series A due 2019 | 250 | 250 | |||||||||||||
2.500% 2013 Series A due 2023 | 400 | 400 | |||||||||||||
4.300% 2014 Series A due 2044 (2) | 250 | - | |||||||||||||
Total First Mortgage Bonds | 2,419.80 | 2,319.80 | |||||||||||||
Pollution Control Revenue Bonds: | |||||||||||||||
4.375% Fixed Rate Tax Exempt due 2028 | 120.5 | 120.5 | |||||||||||||
1.550% Fixed Rate Tax Exempt due 2031 (3) | 62 | 62 | |||||||||||||
Total Pollution Control Revenue Bonds | 182.5 | 182.5 | |||||||||||||
Spent Nuclear Fuel Obligation | 244.5 | 244.4 | |||||||||||||
Less Amounts due Within One Year | -162 | -150 | |||||||||||||
Unamortized Premiums and Discounts, Net | -4.8 | -5.5 | |||||||||||||
CL&P Long-Term Debt | $ | 2,680.00 | $ | 2,591.20 | |||||||||||
NSTAR Electric | As of December 31, | ||||||||||||||
(Millions of Dollars) | 2014 | 2013 | |||||||||||||
Debentures: | |||||||||||||||
4.875% due 2014 (4) | $ | - | $ | 300 | |||||||||||
5.750% due 2036 | 200 | 200 | |||||||||||||
5.625% due 2017 | 400 | 400 | |||||||||||||
5.500% due 2040 | 300 | 300 | |||||||||||||
2.375% due 2022 | 400 | 400 | |||||||||||||
Variable Rate due 2016 (5) | 200 | 200 | |||||||||||||
4.400% due 2044 (4) | 300 | - | |||||||||||||
Total Debentures | 1,800.00 | 1,800.00 | |||||||||||||
Bonds: | |||||||||||||||
7.375% Tax Exempt Sewage Facility Revenue Bonds, due 2015 | 4.7 | 6.4 | |||||||||||||
Total Bonds | 4.7 | 6.4 | |||||||||||||
Less Amounts due Within One Year | -4.7 | -301.7 | |||||||||||||
Unamortized Premiums and Discounts, Net | -7.3 | -5.3 | |||||||||||||
NSTAR Electric Long-Term Debt | $ | 1,792.70 | $ | 1,499.40 | |||||||||||
PSNH | As of December 31, | ||||||||||||||
(Millions of Dollars) | 2014 | 2013 | |||||||||||||
First Mortgage Bonds: | |||||||||||||||
5.25% Series L due 2014 (6) | $ | - | $ | 50 | |||||||||||
5.60% Series M due 2035 | 50 | 50 | |||||||||||||
6.15% Series N due 2017 | 70 | 70 | |||||||||||||
6.00% Series O due 2018 | 110 | 110 | |||||||||||||
4.50% Series P due 2019 | 150 | 150 | |||||||||||||
4.05% Series Q due 2021 | 122 | 122 | |||||||||||||
3.20% Series R due 2021 | 160 | 160 | |||||||||||||
3.50% Series S due 2023 (7) | 325 | 250 | |||||||||||||
Total First Mortgage Bonds | 987 | 962 | |||||||||||||
Pollution Control Revenue Bonds: | |||||||||||||||
Adjustable Rate Tax Exempt Series A due 2021 | 89.3 | 89.3 | |||||||||||||
Total Pollution Control Revenue Bonds | 89.3 | 89.3 | |||||||||||||
Less Amounts due Within One Year | - | -50 | |||||||||||||
Unamortized Premiums and Discounts, Net | - | -2.3 | |||||||||||||
PSNH Long-Term Debt | $ | 1,076.30 | $ | 999 | |||||||||||
WMECO | As of December 31, | ||||||||||||||
(Millions of Dollars) | 2014 | 2013 | |||||||||||||
Notes: | |||||||||||||||
5.90% Senior Notes Series B, due 2034 | $ | 50 | $ | 50 | |||||||||||
5.24% Senior Notes Series C, due 2015 | 50 | 50 | |||||||||||||
6.70% Senior Notes Series D, due 2037 | 40 | 40 | |||||||||||||
5.10% Senior Notes Series E, due 2020 | 95 | 95 | |||||||||||||
3.50% Senior Notes Series F, due 2021 | 250 | 250 | |||||||||||||
3.88% Senior Notes Series G, due 2023 | 80 | 80 | |||||||||||||
Total Notes | 565 | 565 | |||||||||||||
Spent Nuclear Fuel Obligation | 57.4 | 57.3 | |||||||||||||
Less Amounts due Within One Year | -50 | - | |||||||||||||
Unamortized Premiums and Discounts, Net | 6.1 | 7.1 | |||||||||||||
WMECO Long-Term Debt | $ | 578.5 | $ | 629.4 | |||||||||||
OTHER | As of December 31, | ||||||||||||||
(Millions of Dollars) | 2014 | 2013 | |||||||||||||
Yankee Gas - First Mortgage Bonds: | |||||||||||||||
8.48% Series B due 2022 | $ | 20 | $ | 20 | |||||||||||
4.80% Series G due 2014 (8) | - | 75 | |||||||||||||
5.26% Series H due 2019 | 50 | 50 | |||||||||||||
5.35% Series I due 2035 | 50 | 50 | |||||||||||||
6.90% Series J due 2018 | 100 | 100 | |||||||||||||
4.87% Series K due 2020 | 50 | 50 | |||||||||||||
4.82% Series L due 2044 (8) | 100 | - | |||||||||||||
Total First Mortgage Bonds | 370 | 345 | |||||||||||||
Unamortized Premium | 0.6 | 0.7 | |||||||||||||
Yankee Gas Long-Term Debt | 370.6 | 345.7 | |||||||||||||
NSTAR Gas - First Mortgage Bonds: | |||||||||||||||
9.95% Series J due 2020 | 25 | 25 | |||||||||||||
7.11% Series K due 2033 | 35 | 35 | |||||||||||||
7.04% Series M due 2017 | 25 | 25 | |||||||||||||
4.46% Series N due 2020 | 125 | 125 | |||||||||||||
NSTAR Gas Long-Term Debt | 210 | 210 | |||||||||||||
Other - Notes and Debentures: | |||||||||||||||
1.45% Senior Notes Series E due 2018 (NU Parent) | 300 | 300 | |||||||||||||
2.80% Senior Notes Series F due 2023 (NU Parent) | 450 | 450 | |||||||||||||
4.50% Debentures due 2019 (NU Parent) | 350 | 350 | |||||||||||||
NU Commercial Paper Borrowings(8) (9) | 446.3 | 25 | |||||||||||||
Spent Nuclear Fuel Obligation (CYAPC) | 179.4 | 179.4 | |||||||||||||
Total Other Notes and Debentures | 1,725.70 | 1,304.40 | |||||||||||||
Fair Value Adjustment (10) | 202.3 | 230.7 | |||||||||||||
Less Amounts due Within One Year | - | - | |||||||||||||
Less Fair Value Adjustment - Current Portion (10) | -28.9 | -31.7 | |||||||||||||
Unamortized Premiums and Discounts, Net | -1.2 | -1.3 | |||||||||||||
Total Other Long-Term Debt | $ | 2,478.50 | $ | 2,057.80 | |||||||||||
Total NU Long-Term Debt | $ | 8,606.00 | $ | 7,776.80 | |||||||||||
On September 15, 2014, CL&P repaid at maturity the $150 million of 4.80 percent 2004 Series A First Mortgage Bonds, using short-term borrowings. | |||||||||||||||
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 February 12, 2015, CL&P notified the trustee that it intends to purchase and cancel the bonds on April 1, 2015, after they have been tendered by the bondholders. | |||||||||||||||
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. | |||||||||||||||
As of December 31, 2014 and 2013, the interest rate was 0.4721 percent and 0.478 percent, respectively. | |||||||||||||||
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 October 14, 2014, PSNH issued $75 million of first mortgage bonds at a yield of 3.144 percent due to mature in 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. The proceeds, net of issuance costs, were used to repay short-term borrowings. | |||||||||||||||
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, these amounts were classified as Long-Term Debt on NU's balance sheet as of December 31, 2013. | |||||||||||||||
On January 15, 2015, NU parent issued $150 million of 1.60 percent Series G Senior Notes due to mature in 2018 and $300 million of 3.15 percent Series H Notes, due to mature in 2025. The proceeds, net of issuance costs, were used to repay short-term borrowings outstanding under the NU commercial paper program. As the debt issuances refinanced short-term debt, the short-term debt was classified as Long-Term Debt as of December 31, 2014. | |||||||||||||||
Amount relates to the purchase price adjustment required to record the NSTAR long-term debt at fair value on the date of the merger. | |||||||||||||||
Long-term debt maturities, mandatory tender payments and cash sinking fund requirements on debt outstanding for the years 2015 through 2019 and thereafter are shown below. These amounts exclude the spent nuclear fuel obligation, net unamortized premiums and discounts, and other fair value adjustments as of December 31, 2014: | |||||||||||||||
(Millions of Dollars) | NU | CL&P | NSTAR Electric | PSNH | WMECO | ||||||||||
2015 | $ | 216.7 | $ | 162 | $ | 4.7 | $ | - | $ | 50 | |||||
2016 | 200 | - | 200 | - | - | ||||||||||
2017 | 745 | 250 | 400 | 70 | - | ||||||||||
2018 | 810 | 300 | - | 110 | - | ||||||||||
2019 | 800 | 250 | - | 150 | - | ||||||||||
Thereafter | 4,956.60 | 1,640.30 | 1,200.00 | 746.3 | 515 | ||||||||||
Total | $ | 7,728.30 | $ | 2,602.30 | $ | 1,804.70 | $ | 1,076.30 | $ | 565 | |||||
The utility plant of CL&P, PSNH, Yankee Gas and NSTAR Gas is subject to the lien of each company's respective first mortgage bond indenture. The NSTAR Electric, WMECO and NU parent debt is unsecured. | |||||||||||||||
CL&P's obligation to repay each series of PCRBs is secured by first mortgage bonds. Each such series of first mortgage bonds contains similar terms and provisions as the applicable series of PCRBs. If CL&P fails to meet its obligations under the first mortgage bonds, then the holder of the first mortgage bonds (the issuer of the PCRBs) would have rights under the first mortgage bonds. CL&P's $62 million tax-exempt PCRBs, which are subject to mandatory tender for purchase on April 1, 2015 and carry a coupon rate of 1.55 percent during the current three-year fixed rate period, cannot be redeemed prior to its tender date. CL&P's $120.5 million tax-exempt PCRBs will be subject to redemption at par on or after September 1, 2021. All other long-term debt securities are subject to make-whole provisions. | |||||||||||||||
PSNH's obligation to repay the PCRBs is secured by first mortgage bonds and bond insurance. The first mortgage bonds contain similar terms and provisions as the PCRBs. If PSNH fails to meet its obligations under the first mortgage bonds, then the holder of the first mortgage bonds (the issuer of the PCRBs) would have rights under the first mortgage bonds. The PSNH Series A tax-exempt PCRBs are currently callable at 100 percent of par. The PCRBs bear interest at a rate that is periodically set pursuant to auctions. PSNH is not obligated to purchase these PCRBs, which mature in 2021, from the remarketing agent. As of December 31, 2014 and 2013, the interest rate was 0.175 percent and 0.088 percent, respectively. | |||||||||||||||
The long-term debt agreements provide that NU and certain of its subsidiaries must comply with certain covenants as are customarily included in such agreements, including a minimum equity requirement for NSTAR Gas. Under the minimum equity requirement, the outstanding long-term debt of NSTAR Gas must not exceed equity. | |||||||||||||||
Yankee Gas has certain long-term debt agreements that contain cross-default provisions. No other debt issuances contain cross-default provisions as of December 31, 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. | |||||||||||||||
On October 3, 2014, FERC granted authorization to allow NPT to issue short-term and long-term debt securities in an aggregate amount not to exceed $500 million outstanding at any one time, effective December 31, 2014 through December 31, 2016. | |||||||||||||||
On November 26, 2014, PURA approved Yankee Gas' request to extend the authorization period for issuance of up to $200 million in long-term debt from December 31, 2014 to December 31, 2015. | |||||||||||||||
On January 12, 2015, NSTAR Gas filed an application with the DPU requesting authorization to issue up to $100 million in long-term debt for the period ending December 31, 2015. | |||||||||||||||
Spent Nuclear Fuel Obligation: Under the Nuclear Waste Policy Act of 1982, CL&P and WMECO must pay the DOE for the costs of disposal of spent nuclear fuel and high-level radioactive waste for the period prior to the sale of their ownership shares in the Millstone nuclear power stations. The Millstone Nuclear Generating station was made up of Millstone 1, Millstone 2, and Millstone 3 and all three units were sold in March 2001. | |||||||||||||||
The DOE is responsible for the selection and development of repositories for, and the disposal of, spent nuclear fuel and high-level radioactive waste. For nuclear fuel used to generate electricity prior to April 7, 1983 (Prior Period Spent Nuclear Fuel) for CL&P and WMECO, an accrual has been recorded for the full liability, and payment must be made by CL&P and WMECO to the DOE prior to the first delivery of spent fuel to the DOE. After the sale of Millstone, CL&P and WMECO remained responsible for their share of the disposal costs associated with the Prior Period Spent Nuclear Fuel. Until such payment to the DOE is made, the outstanding liability will continue to accrue interest at the 3-month Treasury bill yield rate. In addition, as a result of consolidating CYAPC, NU has consolidated $179.4 million in additional spent nuclear fuel obligations, including interest, as of both December 31, 2014 and 2013. The obligation due to the DOE for the disposal of CL&P's and WMECO's Prior Period Spent Nuclear Fuel and CYAPC's spent nuclear fuel obligation include accumulated interest costs of $350.4 million and $350.3 million ($178 million and $177.9 million for CL&P and $41.8 million and $41.7 million for WMECO) as of December 31, 2014 and 2013, respectively. | |||||||||||||||
WMECO and CYAPC maintain trusts to fund amounts due to the DOE for the disposal of spent nuclear fuel. For further information on these trusts, see Note 5, "Marketable Securities," to the financial statements. |
PENSION_BENEFITS_AND_POSTRETIR
PENSION BENEFITS AND POSTRETIREMENT BENEFITS OTHER THAN PENSIONS | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||||||||||||||||
Pension and Other Postretirement Benefits Disclosure [Text Block] | 9. EMPLOYEE BENEFITS | ||||||||||||||||||||||||
A. Pension Benefits and Postretirement Benefits Other Than Pensions | |||||||||||||||||||||||||
As of December 31, 2014, NUSCO sponsored two defined benefit retirement plans that covered eligible employees, including employees of CL&P, NSTAR Electric, PSNH and WMECO (NUSCO Pension Plan and NSTAR Pension Plan). Effective January 1, 2015, the two plans were merged into one plan, sponsored by NUSCO. The NUSCO and NSTAR Pension Plans are subject to the provisions of ERISA, as amended by the PPA of 2006. NU's policy is to annually fund the Pension Plans in an amount at least equal to an amount that will satisfy federal requirements. In addition, NU maintains non-qualified defined benefit retirement plans sponsored by NUSCO (herein collectively referred to as the SERP Plans), which provide benefits in excess of Internal Revenue Code limitations to eligible current and retired participants. | |||||||||||||||||||||||||
As of December 31, 2014, NUSCO also sponsored defined benefit postretirement plans that provide certain retiree benefits, primarily medical, dental and life insurance, to retiring employees that meet certain age and service eligibility requirements (NUSCO PBOP Plans and NSTAR PBOP Plan). Effective January 1, 2015, the plans were merged into one plan, sponsored by NUSCO. Under certain circumstances, eligible retirees are required to contribute to the costs of postretirement benefits. The benefits provided under the PBOP Plans are not vested and the Company has the right to modify any benefit provision subject to applicable laws at that time. | |||||||||||||||||||||||||
Because the Regulated companies recover the retiree benefit costs from customers through rates, regulatory assets are recorded in lieu of an adjustment to Accumulated Other Comprehensive Income/(Loss) to record the funded status of the Pension, SERP and PBOP Plans. Regulatory accounting was also applied to the portions of the NUSCO costs that support the Regulated companies, as these costs are also recovered from customers. Adjustments to the Pension and PBOP funded status for the unregulated companies are recorded on an after-tax basis to Accumulated Other Comprehensive Income/(Loss). For further information, see Note 2, "Regulatory Accounting," and Note 14, "Accumulated Other Comprehensive Income/(Loss)," to the financial statements. The SERP Plans do not have plan assets. | |||||||||||||||||||||||||
For the years ended December 31, 2014 and 2013, the expected return on plan assets for the NUSCO Pension and PBOP Plans was calculated by applying the assumed rate of return to a four-year rolling average of plan asset fair values. This calculation recognized investment gains or losses over a four-year period from the years in which they occurred. Investment gains or losses for this purpose are the difference between the calculated expected return and the actual return. As investment gains and losses are reflected in the average plan asset fair values, they are subject to amortization with other unrecognized actuarial gains or losses. For the NSTAR Pension and PBOP Plans, the entire difference between the actual return and calculated expected return on plan assets is reflected as a component of unrecognized actuarial gain or loss. Unrecognized actuarial gains or losses are amortized as a component of Pension and PBOP expense over the estimated average future employee service period. | |||||||||||||||||||||||||
Pension and SERP Plans: 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 was 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 (service company merger) and, concurrently, all employees were transferred to the company they predominantly provide services for: NUSCO, NSTAR Electric or NSTAR Gas. As a result of the employee transfers, the pension and SERP assets and liabilities were attributed by participant and transferred to the applicable company's balance sheets. This change had no impact on the income statement or net assets of NSTAR Electric or NU. For the year ended December 31, 2014, the NUSCO and NSTAR pension and SERP plans are accounted for under the multiple-employer approach, with each company's balance sheet reflecting its share of the funded status of the plans. The following tables provide information on the Pension and SERP Plan benefit obligations, fair values of Pension Plan assets, and funded status: | |||||||||||||||||||||||||
Pension and SERP | |||||||||||||||||||||||||
NU | As of December 31, | ||||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | |||||||||||||||||||||||
Change in Benefit Obligation | |||||||||||||||||||||||||
Benefit Obligation as of Beginning of Year | $ | -4,676.50 | $ | -5,022.80 | |||||||||||||||||||||
Service Cost | -79.9 | -102.3 | |||||||||||||||||||||||
Interest Cost | -225.7 | -206.7 | |||||||||||||||||||||||
Actuarial Gain/(Loss) | -739.6 | 433.6 | |||||||||||||||||||||||
Benefits Paid - Pension | 230.3 | 216.6 | |||||||||||||||||||||||
Benefits Paid - SERP | 5.2 | 5.1 | |||||||||||||||||||||||
Benefit Obligation as of End of Year | $ | -5,486.20 | $ | -4,676.50 | |||||||||||||||||||||
Change in Pension Plan Assets | |||||||||||||||||||||||||
Fair Value of Plan Assets as of Beginning of Year | $ | 3,985.90 | $ | 3,411.30 | |||||||||||||||||||||
Employer Contributions | 171.6 | 284.7 | |||||||||||||||||||||||
Actual Return on Plan Assets | 199.3 | 506.5 | |||||||||||||||||||||||
Benefits Paid | -230.3 | -216.6 | |||||||||||||||||||||||
Fair Value of Plan Assets as of End of Year | $ | 4,126.50 | $ | 3,985.90 | |||||||||||||||||||||
Funded Status as of December 31st | $ | -1,359.70 | $ | -690.6 | |||||||||||||||||||||
Pension and SERP | |||||||||||||||||||||||||
As of December 31, 2014 | As of December 31, 2013 | ||||||||||||||||||||||||
NSTAR | NSTAR | ||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | Electric (1) | PSNH | WMECO | |||||||||||||||||
Change in Benefit Obligation | |||||||||||||||||||||||||
Benefit Obligation as of Beginning of Year | $ | -1,083.40 | $ | -1,353.30 | $ | -529 | $ | -223.9 | $ | -1,178.00 | $ | -1,430.00 | $ | -576 | $ | -243.1 | |||||||||
Decrease due to transfer of employees | 26.4 | 479.9 | 32.2 | 6.2 | - | - | - | - | |||||||||||||||||
Service Cost | -20.2 | -13.6 | -9.7 | -3.5 | -24.9 | -33.1 | -13.1 | -4.7 | |||||||||||||||||
Interest Cost | -50.5 | -41.3 | -23.8 | -10.3 | -48.3 | -58 | -23.6 | -10 | |||||||||||||||||
Actuarial Gain/(Loss) | -161 | -107 | -73.3 | -29.8 | 110.7 | 96.6 | 62.4 | 22.4 | |||||||||||||||||
Benefits Paid - Pension | 58.3 | 52.4 | 22.8 | 11.9 | 56.6 | 71.2 | 21.1 | 11.5 | |||||||||||||||||
Benefits Paid - SERP | 0.3 | 0.3 | 0.1 | - | 0.5 | - | 0.2 | - | |||||||||||||||||
Benefit Obligation as of End of Year | $ | -1,230.10 | $ | -982.6 | $ | -580.7 | $ | -249.4 | $ | -1,083.40 | $ | -1,353.30 | $ | -529 | $ | -223.9 | |||||||||
Change in Pension Plan Assets | |||||||||||||||||||||||||
Fair Value of Plan Assets as of Beginning of Year | $ | 1,016.30 | $ | 1,235.30 | $ | 528.6 | $ | 240.4 | $ | 937.6 | $ | 1,069.10 | $ | 386.6 | $ | 218.5 | |||||||||
Decrease due to transfer of employees | -26.4 | -441.4 | -32.2 | -6.2 | - | - | - | - | |||||||||||||||||
Employer Contributions | - | 101 | - | - | - | 82 | 108.3 | - | |||||||||||||||||
Actual Return on Plan Assets | 49.2 | 36.5 | 24.8 | 11.7 | 135.3 | 155.4 | 54.8 | 33.4 | |||||||||||||||||
Benefits Paid | -58.3 | -52.4 | -22.8 | -11.9 | -56.6 | -71.2 | -21.1 | -11.5 | |||||||||||||||||
Fair Value of Plan Assets as of End of Year | $ | 980.8 | $ | 879 | $ | 498.4 | $ | 234 | $ | 1,016.30 | $ | 1,235.30 | $ | 528.6 | $ | 240.4 | |||||||||
Funded Status as of December 31st | $ | -249.3 | $ | -103.6 | $ | -82.3 | $ | -15.4 | $ | -67.1 | $ | -118 | $ | -0.4 | $ | 16.5 | |||||||||
NSTAR Electric amounts do not include benefit obligations of the NSTAR SERP Plan as of December 31, 2013. | |||||||||||||||||||||||||
During 2014, the Society of Actuaries released a series of updated mortality tables resulting from recent studies that measured mortality rates for various groups of individuals. The updated mortality tables released in 2014 increased life expectancy of plan participants by 3 to 5 years and have the effect of increasing the estimate of benefits to be provided to plan participants. The impact of this adoption on NU's funded status liability for the year ended December 31, 2014 was an increase of approximately $340 million. In addition, the decreases in the discount rates resulted in an increase on NU's funded status liability of approximately $530 million. Partially offsetting these increases are the impact of other actuarial assumptions. | |||||||||||||||||||||||||
As of December 31, 2013, prepaid pension assets for PSNH and WMECO were included in Other Long-Term Assets on their accompanying balance sheets. The pension and SERP benefits funded status includes the current portion of the SERP liability, which is included in Other Current Liabilities on the accompanying balance sheets. Although NU maintains marketable securities in a supplemental benefit trust, the SERP plan itself does not contain any assets. See Note 5, "Marketable Securities," to the financial statements. | |||||||||||||||||||||||||
The accumulated benefit obligation for the Pension and SERP Plans is as follows: | |||||||||||||||||||||||||
(Millions of Dollars) | NU | CL&P | NSTAR Electric (1) | PSNH | WMECO | ||||||||||||||||||||
2014 | $ | 5,000.10 | $ | 1,101.40 | $ | 910.4 | $ | 524.5 | $ | 226.4 | |||||||||||||||
2013 | 4,538.80 | 1,058.00 | 1,280.60 | 520.1 | 220.6 | ||||||||||||||||||||
-1 | NSTAR Electric amounts do not include the accumulated benefit obligation for the SERP Plan as of December 31, 2013. | ||||||||||||||||||||||||
The following actuarial assumptions were used in calculating the Pension and SERP Plans' year end funded status: | |||||||||||||||||||||||||
Pension and SERP | |||||||||||||||||||||||||
As of December 31, | |||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
Discount Rate | 4.2 | % | 4.85 | % | - | 5.03 | % | ||||||||||||||||||
Compensation/Progression Rate | 3.5 | % | 3.5 | % | - | 4 | % | ||||||||||||||||||
Pension and SERP Expense: NU charges net periodic pension expense to its subsidiaries based on the actual participant demographic data for each subsidiary's participants. Benefit payments to participants and contributions are also tracked for each subsidiary. The actual investment return in the trust is allocated to each of the subsidiaries annually in proportion to the investment return expected to be earned during the year. For the years ended December 31, 2013 and 2012 (prior to the service company merger), the net periodic pension expense recorded at NSTAR Electric represented the full cost of the plan with a portion of the costs allocated to affiliated companies based on participant demographic data. | |||||||||||||||||||||||||
The components of net periodic benefit expense for the Pension and SERP Plans are shown below. The net periodic benefit expense and the intercompany allocations less the capitalized portion of pension is included in Operations and Maintenance on the statements of income. Capitalized pension 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 expense reflected in the statements of cash flows for CL&P, NSTAR Electric, PSNH and WMECO does not include the intercompany allocations and the corresponding capitalized portion, as these amounts are cash settled on a short-term basis. | |||||||||||||||||||||||||
Pension and SERP | |||||||||||||||||||||||||
For the Year Ended December 31, 2014 | |||||||||||||||||||||||||
NSTAR | |||||||||||||||||||||||||
(Millions of Dollars) | NU | CL&P | Electric | PSNH | WMECO | ||||||||||||||||||||
Service Cost | $ | 79.9 | $ | 20.2 | $ | 13.6 | $ | 9.7 | $ | 3.5 | |||||||||||||||
Interest Cost | 225.7 | 50.5 | 41.3 | 23.8 | 10.3 | ||||||||||||||||||||
Expected Return on Plan Assets | -310.8 | -75.4 | -63 | -38.1 | -17.9 | ||||||||||||||||||||
Actuarial Loss | 128.4 | 33.7 | 23.5 | 11.6 | 6.9 | ||||||||||||||||||||
Prior Service Cost | 4.4 | 1.8 | - | 0.7 | 0.4 | ||||||||||||||||||||
Total Net Periodic Benefit Expense | $ | 127.6 | $ | 30.8 | $ | 15.4 | $ | 7.7 | $ | 3.2 | |||||||||||||||
Intercompany Allocations | N/A | $ | 26.7 | $ | 10.4 | $ | 7.6 | $ | 5.1 | ||||||||||||||||
Capitalized Pension Expense | $ | 35.2 | $ | 17.6 | $ | 7.9 | $ | 3 | $ | 2.4 | |||||||||||||||
Pension and SERP | |||||||||||||||||||||||||
For the Year Ended December 31, 2013 | |||||||||||||||||||||||||
NSTAR | |||||||||||||||||||||||||
(Millions of Dollars) | NU | CL&P | Electric (1) | PSNH | WMECO | ||||||||||||||||||||
Service Cost | $ | 102.3 | $ | 24.9 | $ | 33.1 | $ | 13.1 | $ | 4.7 | |||||||||||||||
Interest Cost | 206.7 | 48.3 | 58 | 23.6 | 10 | ||||||||||||||||||||
Expected Return on Plan Assets | -278.1 | -73.8 | -84.4 | -35.4 | -17.4 | ||||||||||||||||||||
Actuarial Loss | 210.5 | 55.9 | 58.1 | 21.6 | 11.8 | ||||||||||||||||||||
Prior Service Cost/(Credit) | 4 | 1.8 | -0.3 | 0.7 | 0.4 | ||||||||||||||||||||
Total Net Periodic Benefit Expense | $ | 245.4 | $ | 57.1 | $ | 64.5 | $ | 23.6 | $ | 9.5 | |||||||||||||||
Intercompany Allocations | N/A | $ | 44.9 | $ | -8.4 | $ | 10.5 | $ | 8 | ||||||||||||||||
Capitalized Pension Expense | $ | 73.2 | $ | 28 | $ | 28.9 | $ | 7.3 | $ | 5.2 | |||||||||||||||
Pension and SERP | |||||||||||||||||||||||||
For the Year Ended December 31, 2012 | |||||||||||||||||||||||||
NSTAR | |||||||||||||||||||||||||
(Millions of Dollars) | NU (2) | CL&P | Electric (1) | PSNH | WMECO | ||||||||||||||||||||
Service Cost | $ | 84.3 | $ | 21.8 | $ | 30.3 | $ | 11.8 | $ | 4.1 | |||||||||||||||
Interest Cost | 198.3 | 51.2 | 58.9 | 24.4 | 10.5 | ||||||||||||||||||||
Expected Return on Plan Assets | -220.9 | -70.6 | -65.6 | -28.2 | -16.4 | ||||||||||||||||||||
Actuarial Loss | 172.4 | 49.6 | 63.1 | 16.2 | 10.7 | ||||||||||||||||||||
Prior Service Cost/(Credit) | 7.9 | 3.6 | -0.6 | 1.5 | 0.8 | ||||||||||||||||||||
Total Net Periodic Benefit Expense | $ | 242 | $ | 55.6 | $ | 86.1 | $ | 25.7 | $ | 9.7 | |||||||||||||||
Curtailments and Settlements | $ | 2.2 | $ | - | $ | - | $ | - | $ | - | |||||||||||||||
Intercompany Allocations | N/A | $ | 42.8 | $ | -12.3 | $ | 10.1 | $ | 8.1 | ||||||||||||||||
Capitalized Pension Expense | $ | 70.6 | $ | 26.8 | $ | 30.7 | $ | 7.9 | $ | 5.1 | |||||||||||||||
NSTAR Electric's allocated expense associated with the NSTAR SERP was $3.2 million and $3.6 million for the years ended December 31, 2013 and 2012, respectively, and were not included in the NSTAR Electric amounts in the tables above. For the year ended December 31, 2014, the SERP amounts are now allocated to NSTAR Electric due to the service company merger. | |||||||||||||||||||||||||
NSTAR amounts were included in NU beginning April 10, 2012. | |||||||||||||||||||||||||
The following actuarial assumptions were used to calculate Pension and SERP expense amounts: | |||||||||||||||||||||||||
Pension and SERP | |||||||||||||||||||||||||
For the Years Ended December 31, | |||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||
Discount Rate | 4.85 | % | - | 5.03 | % | 4.13 | % | - | 4.24 | % | 4.52 | % | - | 5.03 | % | ||||||||||
Expected Long-Term Rate of Return | 8.25% | 8.25% | 7.3 | % | - | 8.25 | % | ||||||||||||||||||
Compensation/Progression Rate | 3.5 | % | - | 4 | % | 3.5 | % | - | 4 | % | 3.5 | % | - | 4 | % | ||||||||||
The following is a summary of the changes in plan assets and benefit obligations recognized in Regulatory Assets and Other Comprehensive Income (OCI) as well as amounts in Regulatory Assets and OCI reclassified as net periodic benefit expense during the years presented: | |||||||||||||||||||||||||
Amounts Reclassified To/From | |||||||||||||||||||||||||
Regulatory Assets | OCI | ||||||||||||||||||||||||
For the Years Ended December 31, | |||||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Actuarial (Gains)/Losses Arising During the Year | $ | 797.3 | $ | -635.2 | $ | 55.9 | $ | -28.9 | |||||||||||||||||
Actuarial Losses Reclassified as Net Periodic Benefit Expense | -122.8 | -201.2 | -5.6 | -9.4 | |||||||||||||||||||||
Prior Service Cost Reclassified as Net Periodic Benefit Expense | -4.2 | -3.8 | -0.2 | -0.2 | |||||||||||||||||||||
The following is a summary of the remaining Regulatory Assets and Accumulated Other Comprehensive Loss amounts that have not been recognized as components of net periodic benefit expense as of December 31, 2014 and 2013, and the amounts that are expected to be recognized as components in 2015: | |||||||||||||||||||||||||
Regulatory Assets as of | Expected | AOCI as of | Expected | ||||||||||||||||||||||
December 31, | 2015 | December 31, | 2015 | ||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | Expense | 2014 | 2013 | Expense | |||||||||||||||||||
Actuarial Loss | $ | 1,811.90 | $ | 1,137.40 | $ | 149.1 | $ | 93.5 | $ | 43.2 | $ | 6.4 | |||||||||||||
Prior Service Cost | 13.2 | 17.4 | 3.5 | 0.8 | 1 | 0.2 | |||||||||||||||||||
PBOP Plans: As of December 31, 2013, the funded status of the NSTAR PBOP Plan was recorded on the NSTAR Electric & Gas balance sheet. As of December 31, 2013, all NSTAR employees were employed by NSTAR Electric & Gas. On January 1, 2014, concurrent with the service company merger, the PBOP assets and liabilities were attributed by participant and transferred to the applicable company's balance sheets. This change had no impact on the income statement or net assets of NSTAR Electric or NU. For the year ended December 31, 2014, the NUSCO and NSTAR PBOP Plans are accounted for under the multiple-employer approach, with each company's balance sheet reflecting its share of the funded status of the plans. | |||||||||||||||||||||||||
NU annually funds postretirement costs through tax deductible contributions to external trusts. | |||||||||||||||||||||||||
The following tables provide information on PBOP Plan benefit obligations, fair values of plan assets, and funded status: | |||||||||||||||||||||||||
PBOP | |||||||||||||||||||||||||
NU | As of December 31, | ||||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | |||||||||||||||||||||||
Change in Benefit Obligation | |||||||||||||||||||||||||
Benefit Obligation as of Beginning of Year | $ | -1,038.00 | $ | -1,233.30 | |||||||||||||||||||||
Service Cost | -12.5 | -16.9 | |||||||||||||||||||||||
Interest Cost | -49.5 | -47.2 | |||||||||||||||||||||||
Actuarial Gain/(Loss) | -95.5 | 200.9 | |||||||||||||||||||||||
Benefits Paid | 47.6 | 58.5 | |||||||||||||||||||||||
Benefit Obligation as of End of Year | $ | -1,147.90 | $ | -1,038.00 | |||||||||||||||||||||
Change in PBOP Plan Assets | |||||||||||||||||||||||||
Fair Value of Plan Assets as of Beginning of Year | $ | 826.5 | $ | 709.1 | |||||||||||||||||||||
Actual Return on Plan Assets | 43.7 | 118.3 | |||||||||||||||||||||||
Employer Contributions | 40 | 57.6 | |||||||||||||||||||||||
Benefits Paid | -47.6 | -58.5 | |||||||||||||||||||||||
Fair Value of Plan Assets as of End of Year | $ | 862.6 | $ | 826.5 | |||||||||||||||||||||
Funded Status as of December 31st | $ | -285.3 | $ | -211.5 | |||||||||||||||||||||
PBOP | |||||||||||||||||||||||||
As of December 31, | |||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
NSTAR | |||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | PSNH | WMECO | ||||||||||||||||||
Change in Benefit Obligation | |||||||||||||||||||||||||
Benefit Obligation as of Beginning of Year | $ | -180.4 | $ | - | $ | -93.5 | $ | -38.7 | $ | -196.8 | $ | -100.2 | $ | -42.5 | |||||||||||
Decrease/(Increase) due to transfer of employees | 3.7 | -395.5 | 4.3 | 1 | - | - | - | ||||||||||||||||||
Service Cost | -2.2 | -3.1 | -1.3 | -0.4 | -3.4 | -2.3 | -0.7 | ||||||||||||||||||
Interest Cost | -8.1 | -19.4 | -4.3 | -1.7 | -7.9 | -4 | -1.7 | ||||||||||||||||||
Actuarial Gain/(Loss) | 3.5 | -68.6 | -1.1 | 1.3 | 13.3 | 7.2 | 3.3 | ||||||||||||||||||
Benefits Paid | 9.6 | 17.9 | 4.1 | 1.9 | 14.4 | 5.8 | 2.9 | ||||||||||||||||||
Benefit Obligation as of End of Year | $ | -173.9 | $ | -468.7 | $ | -91.8 | $ | -36.6 | $ | -180.4 | $ | -93.5 | $ | -38.7 | |||||||||||
Change in PBOP Plan Assets | |||||||||||||||||||||||||
Fair Value of Plan Assets as of Beginning of Year | $ | 151.3 | $ | - | $ | 81.8 | $ | 35.3 | $ | 132.2 | $ | 69.5 | $ | 31 | |||||||||||
(Decrease)/Increase due to transfer of employees | -3.2 | 316.7 | -3.1 | -1 | - | - | - | ||||||||||||||||||
Actual Return on Plan Assets | 6.3 | 18.4 | 3.8 | 1.6 | 24.8 | 13.4 | 6 | ||||||||||||||||||
Employer Contributions | 4.2 | 19.3 | 2.5 | 0.4 | 8.7 | 4.7 | 1.2 | ||||||||||||||||||
Benefits Paid | -9.6 | -17.9 | -4.1 | -1.9 | -14.4 | -5.8 | -2.9 | ||||||||||||||||||
Fair Value of Plan Assets as of End of Year | $ | 149 | $ | 336.5 | $ | 80.9 | $ | 34.4 | $ | 151.3 | $ | 81.8 | $ | 35.3 | |||||||||||
Funded Status as of December 31st | $ | -24.9 | $ | -132.2 | $ | -10.9 | $ | -2.2 | $ | -29.1 | $ | -11.7 | $ | -3.4 | |||||||||||
During 2014, the Society of Actuaries released a series of updated mortality tables resulting from recent studies that measured mortality rates for various groups of individuals. The updated mortality tables released in 2014 increased life expectancy of plan participants by 3 to 5 years and have the effect of increasing the estimate of benefits to be provided to plan participants. The impact of this adoption on NU's funded status liability for the year ended December 31, 2014 was an increase of approximately $82 million. | |||||||||||||||||||||||||
In addition, the decreases in the discount rates resulted in an increase on NU's funded status liability of approximately $110 million. Partially offsetting these increases are the impact of other actuarial assumptions. | |||||||||||||||||||||||||
The following actuarial assumptions were used in calculating the PBOP Plans' year end funded status: | |||||||||||||||||||||||||
PBOP | |||||||||||||||||||||||||
As of December 31, | |||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
Discount Rate | 4.22 | % | 4.78 | % | - | 5.1 | % | ||||||||||||||||||
Health Care Cost Trend Rate | 6.5 | % | 7.00% | ||||||||||||||||||||||
PBOP Expense: NU charges net periodic postretirement benefits expense to its subsidiaries based on the actual participant demographic data for each subsidiary's participants. Benefit payments to participants and contributions are also tracked for each subsidiary. The actual investment return in the trust each year is allocated to each of the subsidiaries annually in proportion to the investment return expected to be earned during the year. For the years ended December 31, 2013 and 2012 (prior to the service company merger), the net periodic postretirement expense of the NSTAR PBOP Plan allocated to NSTAR Electric was $4.6 million and $34.1 million, respectively. | |||||||||||||||||||||||||
The components of net periodic benefit expense for the PBOP Plans are shown below. The net periodic benefit expense and the intercompany allocations less the capitalized portion of PBOP is included in Operations and Maintenance on the statements of income. Capitalized 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. PBOP expense reflected in the statements of cash flows for CL&P, NSTAR Electric, PSNH and WMECO does not include the intercompany allocations and the corresponding capitalized portion, as these amounts are cash settled on a short-term basis. | |||||||||||||||||||||||||
PBOP | |||||||||||||||||||||||||
For the Year Ended December 31, 2014 | |||||||||||||||||||||||||
NSTAR | |||||||||||||||||||||||||
(Millions of Dollars) | NU | CL&P | Electric | PSNH | WMECO | ||||||||||||||||||||
Service Cost | $ | 12.5 | $ | 2.2 | $ | 3.1 | $ | 1.3 | $ | 0.4 | |||||||||||||||
Interest Cost | 49.5 | 8.1 | 19.4 | 4.3 | 1.7 | ||||||||||||||||||||
Expected Return on Plan Assets | -63.3 | -10.5 | -25.9 | -5.4 | -2.3 | ||||||||||||||||||||
Actuarial Loss/(Gain) | 12.2 | 4.2 | -0.5 | 2.2 | 0.5 | ||||||||||||||||||||
Prior Service Credit | -2.8 | - | -1.9 | - | - | ||||||||||||||||||||
Total Net Periodic Benefit Expense/(Income) | $ | 8.1 | $ | 4 | $ | -5.8 | $ | 2.4 | $ | 0.3 | |||||||||||||||
Intercompany Allocations | N/A | $ | 3.8 | $ | 0.8 | $ | 1 | $ | 0.7 | ||||||||||||||||
Capitalized PBOP Expense/(Income) | $ | 1.4 | $ | 1.8 | $ | -2.3 | $ | 0.8 | $ | 0.2 | |||||||||||||||
PBOP | |||||||||||||||||||||||||
For the Year Ended December 31, 2013 | |||||||||||||||||||||||||
(Millions of Dollars) | NU | CL&P | PSNH | WMECO | |||||||||||||||||||||
Service Cost | $ | 16.9 | $ | 3.4 | $ | 2.3 | $ | 0.7 | |||||||||||||||||
Interest Cost | 47.2 | 7.9 | 4 | 1.7 | |||||||||||||||||||||
Expected Return on Plan Assets | -55.4 | -10.1 | -5.2 | -2.3 | |||||||||||||||||||||
Actuarial Loss | 26 | 7.4 | 3.6 | 1.1 | |||||||||||||||||||||
Prior Service Credit | -2.1 | - | - | - | |||||||||||||||||||||
Total Net Periodic Benefit Expense | $ | 32.6 | $ | 8.6 | $ | 4.7 | $ | 1.2 | |||||||||||||||||
Intercompany Allocations | N/A | $ | 7.1 | $ | 1.6 | $ | 1.3 | ||||||||||||||||||
Capitalized PBOP Expense | $ | 8.8 | $ | 3.9 | $ | 1.3 | $ | 0.6 | |||||||||||||||||
PBOP | |||||||||||||||||||||||||
For the Year Ended December 31, 2012 | |||||||||||||||||||||||||
(Millions of Dollars) | NU (1) | CL&P | PSNH | WMECO | |||||||||||||||||||||
Service Cost | $ | 15.7 | $ | 3 | $ | 2 | $ | 0.6 | |||||||||||||||||
Interest Cost | 49 | 9.2 | 4.6 | 2 | |||||||||||||||||||||
Expected Return on Plan Assets | -39.2 | -9.1 | -4.6 | -2.1 | |||||||||||||||||||||
Actuarial Loss | 36 | 7.5 | 3.6 | 1.2 | |||||||||||||||||||||
Prior Service Credit | -1.4 | - | - | - | |||||||||||||||||||||
Net Transition Obligation Cost | 12.2 | 6.1 | 2.5 | 1.3 | |||||||||||||||||||||
Total Net Periodic Benefit Expense | $ | 72.3 | $ | 16.7 | $ | 8.1 | $ | 3 | |||||||||||||||||
Intercompany Allocations | N/A | $ | 7.9 | $ | 2 | $ | 1.5 | ||||||||||||||||||
Capitalized PBOP Expense | $ | 26.6 | $ | 8.2 | $ | 2.3 | $ | 1.6 | |||||||||||||||||
-1 | NSTAR amounts were included in NU beginning April 10, 2012. | ||||||||||||||||||||||||
The following actuarial assumptions were used to calculate PBOP expense amounts: | |||||||||||||||||||||||||
PBOP | |||||||||||||||||||||||||
For the Years Ended December 31, | |||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||
Discount Rate | 4.78 | % | - | 5.1 | % | 4.04 | % | - | 4.35 | % | 4.58 | % | - | 4.84 | % | ||||||||||
Expected Long-Term Rate of Return | 8.25% | 8.25% | 7.3 | % | - | 8.25 | % | ||||||||||||||||||
As of December 31, 2014 and 2013, the health care cost trend rate assumption used to determine the PBOP Plans' funded status was 6.5 percent and 7 percent, respectively, subsequently decreasing to an ultimate rate of 4.5 percent in 2023. The health care cost trend rate assumption used to calculate the PBOP expense amounts was 7 percent for the year ended December 31, 2014. | |||||||||||||||||||||||||
Assumed health care cost trend rates have a significant effect on the amounts reported for the health care plans. The effect of changing the assumed health care cost trend rate by one percentage point for the year ended December 31, 2014 would have the following effects: | |||||||||||||||||||||||||
One Percentage | One Percentage | ||||||||||||||||||||||||
(Millions of Dollars) | Point Increase | Point Decrease | |||||||||||||||||||||||
Effect on PBOP Obligation | $ | 111.2 | $ | -88.4 | |||||||||||||||||||||
Effect on Total Service and Interest Cost Components | 5.3 | -4.4 | |||||||||||||||||||||||
The following is a summary of the changes in plan assets and benefit obligations recognized in Regulatory Assets and OCI as well as amounts in Regulatory Assets and OCI reclassified as net periodic benefit (expense)/income during the years presented: | |||||||||||||||||||||||||
Amounts Reclassified To/From | |||||||||||||||||||||||||
Regulatory Assets | OCI | ||||||||||||||||||||||||
For the Years Ended December 31, | |||||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Actuarial Losses/(Gains) Arising During the Year | $ | 115.1 | $ | -262 | $ | 0.4 | $ | -1.9 | |||||||||||||||||
Actuarial Losses Reclassified as Net Periodic Benefit Expense | -11.6 | -24.9 | -0.6 | -1.1 | |||||||||||||||||||||
Prior Service Credit Reclassified as Net Periodic Benefit Income | 2.8 | 2.1 | - | - | |||||||||||||||||||||
The following is a summary of the remaining Regulatory Assets and Accumulated Other Comprehensive Loss amounts that have not been recognized as components of net periodic benefit expense as of December 31, 2014 and 2013, and the amounts that are expected to be recognized as components in 2015: | |||||||||||||||||||||||||
Regulatory Assets as of | Expected | AOCI as of | Expected | ||||||||||||||||||||||
December 31, | 2015 | December 31, | 2015 | ||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | Expense | 2014 | 2013 | Expense | |||||||||||||||||||
Actuarial Loss | $ | 192.7 | $ | 89.2 | $ | 6.9 | $ | 6 | $ | 6.2 | $ | 0.3 | |||||||||||||
Prior Service Credit | -1.8 | -4.6 | -0.5 | - | - | - | |||||||||||||||||||
Estimated Future Benefit Payments: The following benefit payments, which reflect expected future service, are expected to be paid by the Pension, SERP and PBOP Plans: | |||||||||||||||||||||||||
(Millions of Dollars) | 2015 | 2016 | 2017 | 2018 | 2019 | 2020-2024 | |||||||||||||||||||
Pension and SERP | $ | 244.5 | $ | 253.6 | $ | 268.9 | $ | 273.4 | $ | 285.4 | $ | 1,591.10 | |||||||||||||
PBOP | 58.7 | 59.7 | 60.6 | 61.3 | 62 | 318.8 | |||||||||||||||||||
Contributions: NU contributed $171.6 million to the Pension Plans in 2014, of which $101 million was contributed by NSTAR Electric. Based on the current status of the Pension Plans, NU expects to make contributions of approximately $155 million in 2015, of which $5 million will be contributed by NSTAR Electric and $1 million will be contributed by PSNH. The remaining $149 million is expected to be contributed by other NU subsidiaries, primarily NUSCO. | |||||||||||||||||||||||||
NU contributed $40 million to the PBOP Plans in 2014 and expects to make approximately $27 million in contributions in 2015. This amount will be funded into the 401(h) account and VEBAs up to the maximum tax-deductible level permitted. | |||||||||||||||||||||||||
Fair Value of Pension and PBOP Plan Assets: Pension and PBOP funds are held in external trusts. Trust assets, including accumulated earnings, must be used exclusively for Pension and PBOP payments. NU's investment strategy for its Pension and PBOP Plans is to maximize the long-term rates of return on these plans' assets within an acceptable level of risk. The investment strategy for each asset category includes a diversification of asset types, fund strategies and fund managers and establishes target asset allocations that are routinely reviewed and periodically rebalanced. PBOP assets are comprised of assets held in the PBOP Plans as well as specific assets within the defined benefit pension plan trust (401(h) assets). The investment policy and strategy of the 401(h) assets is consistent with those of the defined benefit pension plans. NU's expected long-term rates of return on Pension and PBOP Plan assets are based on target asset allocation assumptions and related expected long-term rates of return. In developing its expected long-term rate of return assumptions for the Pension and PBOP Plans, NU evaluated input from consultants, as well as long-term inflation assumptions and historical returns. For the year ended December 31, 2014, management has assumed long-term rates of return of 8.25 percent for the Pension and PBOP Plan assets. These long-term rates of return are based on the assumed rates of return for the target asset allocations as follows: | |||||||||||||||||||||||||
As of December 31, 2014 and 2013 | |||||||||||||||||||||||||
Pension and Tax-Exempt PBOP Plans | |||||||||||||||||||||||||
Target Asset Allocation | Assumed Rate of Return | ||||||||||||||||||||||||
Equity Securities: | |||||||||||||||||||||||||
United States | 24% | 9% | |||||||||||||||||||||||
International | 10% | 9% | |||||||||||||||||||||||
Emerging Markets | 6% | 10% | |||||||||||||||||||||||
Private Equity | 10% | 13% | |||||||||||||||||||||||
Debt Securities: | |||||||||||||||||||||||||
Fixed Income | 15% | 5% | |||||||||||||||||||||||
High Yield Fixed Income | 9% | 7.50% | |||||||||||||||||||||||
Emerging Markets Debt | 6% | 7.50% | |||||||||||||||||||||||
Real Estate and Other Assets | 9% | 7.50% | |||||||||||||||||||||||
Hedge Funds | 11% | 7% | |||||||||||||||||||||||
The Taxable PBOP Plans have a target asset allocation of 70 percent equity securities and 30 percent fixed income securities. | |||||||||||||||||||||||||
The following table presents, by asset category, the Pension and PBOP Plan assets recorded at fair value on a recurring basis by the level in which they are classified within the fair value hierarchy: | |||||||||||||||||||||||||
NU Pension Plans | |||||||||||||||||||||||||
Fair Value Measurements as of December 31, | |||||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | |||||||||||||||||||||||
Asset Category: | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
Equity Securities (1) | $ | 414.7 | $ | 1,035.00 | $ | 292.2 | $ | 1,741.90 | $ | 326.8 | $ | 1,172.10 | $ | 255.5 | $ | 1,754.40 | |||||||||
Private Equity | 18.8 | - | 367.9 | 386.7 | 96.4 | - | 300.3 | 396.7 | |||||||||||||||||
Fixed Income (2) | 10.2 | 561.4 | 722 | 1,293.60 | 11.6 | 605.1 | 589.5 | 1,206.20 | |||||||||||||||||
Real Estate and Other Assets | - | 132 | 265.8 | 397.8 | - | 88.2 | 288.5 | 376.7 | |||||||||||||||||
Hedge Funds | - | 20 | 475 | 495 | - | - | 416.9 | 416.9 | |||||||||||||||||
Total Master Trust Assets | $ | 443.7 | $ | 1,748.40 | $ | 2,122.90 | $ | 4,315.00 | $ | 434.8 | $ | 1,865.40 | $ | 1,850.70 | $ | 4,150.90 | |||||||||
Less: 401(h) PBOP Assets (3) | -188.5 | -165 | |||||||||||||||||||||||
Total Pension Assets | $ | 4,126.50 | $ | 3,985.90 | |||||||||||||||||||||
NU PBOP Plans | |||||||||||||||||||||||||
Fair Value Measurements as of December 31, | |||||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | |||||||||||||||||||||||
Asset Category: | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
Cash and Cash Equivalents | $ | - | $ | - | $ | - | $ | - | $ | 11.1 | $ | - | $ | - | $ | 11.1 | |||||||||
Equity Securities (1) | 104.1 | 172.8 | 75.1 | 352 | 110.3 | 176.8 | 69.1 | 356.2 | |||||||||||||||||
Private Equity | - | - | 24.9 | 24.9 | - | - | 17.9 | 17.9 | |||||||||||||||||
Fixed Income (2) | 16.1 | 110 | 78.3 | 204.4 | - | 119.7 | 51.5 | 171.2 | |||||||||||||||||
Real Estate and Other Assets | 19.4 | 15 | 34.4 | - | 14.2 | 33.9 | 48.1 | ||||||||||||||||||
Hedge Funds | - | 58.4 | 58.4 | - | - | 57 | 57 | ||||||||||||||||||
Total | $ | 120.2 | $ | 302.2 | $ | 251.7 | $ | 674.1 | $ | 121.4 | $ | 310.7 | $ | 229.4 | $ | 661.5 | |||||||||
Add: 401(h) PBOP Assets (3) | 188.5 | 165 | |||||||||||||||||||||||
Total PBOP Assets | $ | 862.6 | $ | 826.5 | |||||||||||||||||||||
United States, International and Emerging Markets equity securities classified as Level 2 include investments in commingled funds. Level 3 investments include hedge funds that are overlayed with equity index swaps and futures contracts and funds invested in equities that have redemption restrictions. | |||||||||||||||||||||||||
Fixed Income investments classified as Level 3 investments include fixed income funds that invest in a variety of opportunistic fixed income strategies, and hedge funds that are overlayed with fixed income futures. | |||||||||||||||||||||||||
The assets of the Pension Plans include a 401(h) account that has been allocated to provide health and welfare postretirement benefits under the PBOP Plans. | |||||||||||||||||||||||||
Effective January 1, 2013, the NSTAR Pension Plan assets were transferred into the NUSCO Pension Plan master trust. The NUSCO Pension Plan is entitled to approximately 66 percent of each asset category in the master trust, the NSTAR Pension Plan is entitled to approximately 30 percent of each asset category in the master trust and the 401(h) plans are entitled to approximately four percent of each asset category in the master trust. For the years ended December 31, 2014 and 2013 the NUSCO Pension Plan was entitled to $2,803.6 million and $2,750.4 million respectively and the NSTAR Pension Plan was entitled to $1,322.9 million and $1,235.3 million, respectively. Also effective January 1, 2013, the NSTAR PBOP Plan assets were transferred into a master trust with the NUSCO PBOP Plan assets and assets were allocated to each plan. For the years ended December 31, 2014 and 2013, the NUSCO PBOP Plan was entitled to $399 million and $391 million, respectively, and the NSTAR PBOP Plan was entitled to $463.6 million and $435.5 million, respectively. CL&P, PSNH and WMECO are allocated a portion of the NUSCO Pension and PBOP Plan assets. NSTAR Electric is entitled to a portion of the NSTAR Pension and PBOP Plan assets. | |||||||||||||||||||||||||
The Company values assets based on observable inputs when available. Equity securities, exchange traded funds and futures contracts classified as Level 1 in the fair value hierarchy are priced based on the closing price on the primary exchange as of the balance sheet date. Commingled funds included in Level 2 equity securities are recorded at the net asset value provided by the asset manager, which is based on the market prices of the underlying equity securities. Swaps are valued using pricing models that incorporate interest rates and equity and fixed income index closing prices to determine a net present value of the cash flows. Fixed income securities, such as government issued securities, corporate bonds and high yield bond funds, are included in Level 2 and are valued using pricing models, quoted prices of securities with similar characteristics or discounted cash flows. The pricing models utilize observable inputs such as recent trades for the same or similar instruments, yield curves, discount margins and bond structures. Hedge funds and investments in opportunistic fixed income funds are recorded at net asset value based on the values of the underlying assets. The assets in the hedge funds and opportunistic fixed income funds are valued using observable inputs and are classified as Level 3 within the fair value hierarchy due to redemption restrictions. Private Equity investments and Real Estate and Other Assets are valued using the net asset value provided by the partnerships, which are based on discounted cash flows of the underlying investments, real estate appraisals or public market comparables of the underlying investments. These investments are classified as Level 3 due to redemption restrictions. | |||||||||||||||||||||||||
Fair Value Measurements Using Significant Unobservable Inputs (Level 3): The following tables present changes in the Level 3 category of Pension and PBOP Plan assets for the years ended December 31, 2014 and 2013: | |||||||||||||||||||||||||
NU Pension Plans | |||||||||||||||||||||||||
Equity | Private | Fixed | Real Estate and | Hedge | |||||||||||||||||||||
(Millions of Dollars) | Securities | Equity | Income | Other Assets | Funds | Total | |||||||||||||||||||
Balance as of January 1, 2013 | $ | 322.7 | $ | 267.9 | $ | 315.1 | $ | 235.4 | $ | 418.9 | $ | 1,560.00 | |||||||||||||
Transfer Between Categories | - | - | 32.5 | - | -32.5 | - | |||||||||||||||||||
Actual Return/(Loss) on Plan Assets: | |||||||||||||||||||||||||
Relating to Assets Still Held as of Year End | 20.6 | 15.4 | 55.3 | 12.9 | 33.4 | 137.6 | |||||||||||||||||||
Relating to Assets Distributed During the Year | 12.2 | 13.7 | -1 | 6.2 | - | 31.1 | |||||||||||||||||||
Purchases, Sales and Settlements | -100 | 3.3 | 187.6 | 34 | -2.9 | 122 | |||||||||||||||||||
Balance as of December 31, 2013 | $ | 255.5 | $ | 300.3 | $ | 589.5 | $ | 288.5 | $ | 416.9 | $ | 1,850.70 | |||||||||||||
Actual Return/(Loss) on Plan Assets: | |||||||||||||||||||||||||
Relating to Assets Still Held as of Year End | -2.3 | 14 | 45.2 | -3.6 | 23.5 | 76.8 | |||||||||||||||||||
Relating to Assets Distributed During the Year | - | 13.9 | -6.2 | 28.3 | -15.2 | 20.8 | |||||||||||||||||||
Purchases, Sales and Settlements | 39 | 39.7 | 93.5 | -47.4 | 49.8 | 174.6 | |||||||||||||||||||
Balance as of December 31, 2014 | $ | 292.2 | $ | 367.9 | $ | 722 | $ | 265.8 | $ | 475 | $ | 2,122.90 | |||||||||||||
NU PBOP Plans | |||||||||||||||||||||||||
Equity | Private | Fixed | Real Estate and | Hedge | |||||||||||||||||||||
(Millions of Dollars) | Securities | Equity | Income | Other Assets | Funds | Total | |||||||||||||||||||
Balance as of January 1, 2013 | $ | 36.3 | $ | 11.3 | $ | 32.1 | $ | 26.7 | $ | 39.6 | $ | 146 | |||||||||||||
Actual Return/(Loss) on Plan Assets: | |||||||||||||||||||||||||
Relating to Assets Still Held as of Year End | 20.8 | 1.5 | 4.1 | 3.9 | 5.4 | 35.7 | |||||||||||||||||||
Relating to Assets Distributed During the Year | - | 0.2 | - | -0.1 | - | 0.1 | |||||||||||||||||||
Purchases, Sales and Settlements | 12 | 4.9 | 15.3 | 3.4 | 12 | 47.6 | |||||||||||||||||||
Balance as of December 31, 2013 | $ | 69.1 | $ | 17.9 | $ | 51.5 | $ | 33.9 | $ | 57 | $ | 229.4 | |||||||||||||
Actual Return/(Loss) on Plan Assets: | |||||||||||||||||||||||||
Relating to Assets Still Held as of Year End | 6 | 1.3 | 1.9 | -2.8 | 1.4 | 7.8 | |||||||||||||||||||
Relating to Assets Distributed During the Year | - | 0.1 | - | -2.2 | - | -2.1 | |||||||||||||||||||
Purchases, Sales and Settlements | - | 5.6 | 24.9 | -13.9 | - | 16.6 | |||||||||||||||||||
Balance as of December 31, 2014 | $ | 75.1 | $ | 24.9 | $ | 78.3 | $ | 15 | $ | 58.4 | $ | 251.7 |
DEFINED_CONTRIBUTION_PLANS
DEFINED CONTRIBUTION PLANS | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||||||
Compensation and Employee Benefit Plans [Text Block] | B. Defined Contribution Plans | ||||||||||||||
Effective January 1, 2014, NU maintains one defined contribution plan on behalf of eligible participants, the NUSCO 401k Plan. The NUSCO 401k Plan provides for employee and employer contributions up to statutory limits. For eligible employees, the NUSCO 401k Plan provides employer matching contributions of either 100 percent up to a maximum of three percent of eligible compensation or 50 percent up to a maximum of eight percent of eligible compensation. For newly hired employees beginning in 2014, the NUSCO 401k Plan provides employer matching contributions of 100 percent up to a maximum of three percent of eligible compensation. | |||||||||||||||
The NUSCO 401k Plan also contains a K-Vantage feature on behalf of eligible participants, which provides an additional employer contribution based on age and years of service. K-Vantage participants are not eligible to actively participate in the NU defined benefit plans. | |||||||||||||||
The total defined contribution plan employer matching contributions, including the K-Vantage program contributions, were as follows: | |||||||||||||||
NSTAR | |||||||||||||||
(Millions of Dollars) | NU (1) | CL&P | Electric | PSNH | WMECO | ||||||||||
2014 | $ | 29.7 | $ | 5 | $ | 6.3 | $ | 3.2 | $ | 1 | |||||
2013 | 37 | 5.1 | 8.5 | 3.3 | 1 | ||||||||||
2012 | 25.7 | 4.8 | 9 | 3.3 | 0.9 | ||||||||||
NSTAR amounts were included in NU beginning April 10, 2012. | |||||||||||||||
Allocations of NU common shares were made from NU treasury shares to satisfy the NUSCO 401k Plan obligation to provide 100 percent of the matching contribution in NU common shares. For treasury shares used to satisfy the NUSCO 401k Plan employer matching contributions, compensation expense is recognized equal to the fair value of shares that have been allocated to participants. Any difference between the fair value and the average cost of the allocated treasury shares is charged or credited to Capital Surplus, Paid In. For the years ended December 31, 2014, 2013 and 2012, NU recognized $22 million, $9.1 million and $8.9 million, respectively, of compensation expense related to treasury shares used to satisfy the matching contribution. |
SHAREBASED_PAYMENTS
SHARE-BASED PAYMENTS | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||
Shareholders' Equity and Share-based Payments [Text Block] | C. Share-Based Payments | ||||||||||||||||||||||||||||||||||||
Share-based compensation awards are recorded using a fair-value-based method at the date of grant. NU, CL&P, NSTAR Electric, PSNH and WMECO record compensation expense related to these awards, as applicable, for shares issued or sold to their respective employees and officers, as well as the allocation of costs associated with shares issued or sold to NU's service company employees and officers that support CL&P, NSTAR Electric, PSNH and WMECO. | |||||||||||||||||||||||||||||||||||||
Upon consummation of the merger with NSTAR, the NSTAR 1997 Share Incentive Plan and the NSTAR 2007 Long-Term Incentive Plan were assumed by NU. Share-based awards granted under the NSTAR Plans and held by NSTAR employees and officers were generally converted into outstanding NU share-based compensation awards with an estimated fair value of $53.2 million. Refer to Note 21, "Merger of NU and NSTAR," for further information regarding the merger transaction. Specifically, as of the merger closing, and as adjusted by the exchange ratio, NU converted (1) outstanding NSTAR stock options into 2,664,894 NU stock options valued at $30.5 million, (2) NSTAR deferred shares and NSTAR performance shares into 421,775 NU RSU's valued at $15.5 million, and (3) NSTAR RSU retention awards into 195,619 NU RSU retention awards valued at $7.2 million. | |||||||||||||||||||||||||||||||||||||
NU Incentive Plans: NU maintains long-term equity-based incentive plans in which NU, CL&P, NSTAR Electric, PSNH and WMECO employees, officers and board members are eligible to participate. The incentive plans authorize NU to grant up to 8,000,000 new shares for various types of awards, including RSUs and performance shares, to eligible employees, officers, and board members. As of December 31, 2014 and 2013, NU had 3,112,020 and 3,440,590 common shares, respectively, available for issuance under these plans. NU also maintains an ESPP for eligible employees. | |||||||||||||||||||||||||||||||||||||
NU accounts for its various share-based plans as follows: | |||||||||||||||||||||||||||||||||||||
RSUs - NU records compensation expense, net of estimated forfeitures, on a straight-line basis over the requisite service period based upon the fair value of NU's common shares at the date of grant. The par value of RSUs is reclassified to Common Stock from APIC as RSUs become issued as common shares. | |||||||||||||||||||||||||||||||||||||
Performance Shares - NU records compensation expense, net of estimated forfeitures, on a straight-line basis over the requisite service period. Performance shares vest based upon the extent to which Company goals are achieved. Vesting of outstanding performance shares is based upon both the Company's EPS growth over the requisite service period and the total shareholder return as compared to the Edison Electric Institute (EEI) Index during the requisite service period. The fair value of performance shares is determined at the date of grant using a lattice model. | |||||||||||||||||||||||||||||||||||||
Stock Options - Stock options issued under the NSTAR Incentive Plan that were outstanding immediately prior to the completion of the merger with NSTAR converted into fully vested options to acquire NU common shares, as adjusted by the exchange ratio. The fair value of these awards on the merger date was included in the purchase price as it represented consideration transferred in the merger. Accordingly, no compensation expense was recorded for these stock options. | |||||||||||||||||||||||||||||||||||||
ESPP Shares - For shares sold under the ESPP, no compensation expense was recorded as the ESPP qualifies as a non-compensatory plan. | |||||||||||||||||||||||||||||||||||||
RSUs: NU granted RSUs under the annual long-term incentive programs that are subject to three-year graded vesting schedules for employees, and one-year graded vesting schedules, or immediate vesting, for board members. RSUs are paid in shares, reduced by amounts sufficient to satisfy withholdings for income taxes, subsequent to vesting. A summary of RSU transactions is as follows: | |||||||||||||||||||||||||||||||||||||
Weighted Average | |||||||||||||||||||||||||||||||||||||
RSUs | Grant-Date | ||||||||||||||||||||||||||||||||||||
(Units) | Fair Value | ||||||||||||||||||||||||||||||||||||
Outstanding as of January 1, 2012 | 959,920 | $ | 26.36 | ||||||||||||||||||||||||||||||||||
Granted | 614,930 | $ | 33.04 | ||||||||||||||||||||||||||||||||||
Converted NSTAR Awards upon Merger | 617,394 | $ | 36.79 | ||||||||||||||||||||||||||||||||||
Converted from NU Performance Shares upon Merger | 451,358 | $ | 34.32 | ||||||||||||||||||||||||||||||||||
Shares issued | -363,779 | $ | 29.05 | ||||||||||||||||||||||||||||||||||
Forfeited | -96,504 | $ | 34.97 | ||||||||||||||||||||||||||||||||||
Outstanding as of December 31, 2012 | 2,183,319 | $ | 31.99 | ||||||||||||||||||||||||||||||||||
Granted | 373,939 | $ | 39.56 | ||||||||||||||||||||||||||||||||||
Shares issued | -891,129 | $ | 32.15 | ||||||||||||||||||||||||||||||||||
Forfeited | -29,689 | $ | 33.75 | ||||||||||||||||||||||||||||||||||
Outstanding as of December 31, 2013 | 1,636,440 | $ | 33.61 | ||||||||||||||||||||||||||||||||||
Granted | 338,576 | $ | 42.27 | ||||||||||||||||||||||||||||||||||
Shares issued | -567,209 | $ | 33.48 | ||||||||||||||||||||||||||||||||||
Forfeited | -27,060 | $ | 39.62 | ||||||||||||||||||||||||||||||||||
Outstanding as of December 31, 2014 | 1,380,747 | $ | 35.67 | ||||||||||||||||||||||||||||||||||
As of December 31, 2014 and 2013, the number and weighted average grant-date fair value of unvested RSUs was 1,024,729 and $38.14 per share, and 1,162,216 and $36.58 per share, respectively. The number and weighted average grant-date fair value of RSUs vested and either paid or deferred during 2014 was 437,887 and $37.36 per share, respectively. As of December 31, 2014, 356,018 RSUs were fully vested and deferred and an additional 973,493 are expected to vest. | |||||||||||||||||||||||||||||||||||||
Performance Shares: NU granted performance shares under the annual long-term incentive programs that vest based upon the extent to which Company goals are achieved at the end of three-year performance measurement periods. Performance shares are paid in shares, after the performance measurement period. A summary of performance share transactions is as follows: | |||||||||||||||||||||||||||||||||||||
Performance | Weighted Average | ||||||||||||||||||||||||||||||||||||
Shares | Grant-Date | ||||||||||||||||||||||||||||||||||||
(Units) | Fair Value | ||||||||||||||||||||||||||||||||||||
Outstanding as of January 1, 2012 | 483,133 | $ | 29.18 | ||||||||||||||||||||||||||||||||||
Granted | 225,935 | $ | 35.09 | ||||||||||||||||||||||||||||||||||
Converted to RSUs upon Merger | -451,358 | $ | 34.32 | ||||||||||||||||||||||||||||||||||
Shares issued | -106,773 | $ | 24.52 | ||||||||||||||||||||||||||||||||||
Outstanding as of December 31, 2012 | 150,937 | $ | 25.04 | ||||||||||||||||||||||||||||||||||
Granted | 191,961 | $ | 40.96 | ||||||||||||||||||||||||||||||||||
Shares issued | -150,944 | $ | 25.04 | ||||||||||||||||||||||||||||||||||
Forfeited | -1,526 | $ | 40.93 | ||||||||||||||||||||||||||||||||||
Outstanding as of December 31, 2013 | 190,428 | $ | 40.96 | ||||||||||||||||||||||||||||||||||
Granted | 193,396 | $ | 43.4 | ||||||||||||||||||||||||||||||||||
Shares issued | -2,009 | $ | 41.46 | ||||||||||||||||||||||||||||||||||
Forfeited | -6,171 | $ | 42.02 | ||||||||||||||||||||||||||||||||||
Outstanding as of December 31, 2014 | 375,644 | $ | 42.2 | ||||||||||||||||||||||||||||||||||
Upon closing of the merger with NSTAR, 451,358 performance shares under the NU 2011 and 2012 Long-Term Incentive Programs converted to RSUs according to the terms of these programs. Performance shares under the NU 2010 Incentive Program were measured based upon a modified performance period through the date of the merger, in accordance with the terms of the program, and were fully distributed in 2013. | |||||||||||||||||||||||||||||||||||||
The total compensation expense and associated future income tax benefit recognized by NU, CL&P, NSTAR Electric, PSNH and WMECO for share-based compensation awards are as follows: | |||||||||||||||||||||||||||||||||||||
NU | For the Years Ended December 31, | ||||||||||||||||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | 2012 (1) | ||||||||||||||||||||||||||||||||||
Compensation Expense | $ | 24.6 | $ | 27 | $ | 25.8 | |||||||||||||||||||||||||||||||
Future Income Tax Benefit | 10.3 | 10.7 | 10.2 | ||||||||||||||||||||||||||||||||||
For the Years Ended December 31, | |||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||
NSTAR | NSTAR | NSTAR | |||||||||||||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | |||||||||||||||||||||||||
Compensation Expense | $ | 8.1 | $ | 7.4 | $ | 3 | $ | 1.3 | $ | 6.8 | $ | 7.5 | $ | 2.3 | $ | 1.3 | $ | 4.8 | $ | 7.4 | $ | 1.8 | $ | 1 | |||||||||||||
Future Income Tax Benefit | 3.4 | 3.1 | 1.3 | 0.5 | 2.7 | 3 | 0.9 | 0.5 | 1.9 | 2.9 | 0.7 | 0.4 | |||||||||||||||||||||||||
NSTAR amounts were included in NU beginning April 10, 2012. | |||||||||||||||||||||||||||||||||||||
As of December 31, 2014, there was $15.7 million of total unrecognized compensation expense related to nonvested share-based awards for NU, $6.1 million for CL&P, $4.3 million for NSTAR Electric, $2 million for PSNH and $1 million for WMECO. This cost is expected to be recognized ratably over a weighted-average period of 1.65 years for NU, 1.68 years for CL&P, 1.69 years for NSTAR Electric, 1.71 years for PSNH and 1.68 years for WMECO. | |||||||||||||||||||||||||||||||||||||
For the years ended December 31, 2014 and 2012, additional tax benefits totaling $9.5 million and $8.5 million increased cash flows from financing activities. For the year ended December 31, 2013, additional tax benefits totaling $5.5 million decreased cash flows from financing activities. | |||||||||||||||||||||||||||||||||||||
Stock Options: Stock options were granted under the NU and NSTAR incentive plans. Options currently outstanding expire ten years from the date of grant and are fully vested. The weighted average remaining contractual lives for the options outstanding as of December 31, 2014 is 4.3 years. A summary of stock option transactions is as follows: | |||||||||||||||||||||||||||||||||||||
Weighted Average | Intrinsic Value | ||||||||||||||||||||||||||||||||||||
Options | Exercise Price | (Millions) | |||||||||||||||||||||||||||||||||||
Outstanding and Exercisable - January 1, 2012 | 47,374 | $ | 18.78 | ||||||||||||||||||||||||||||||||||
Converted NSTAR Options upon Merger | 2,664,894 | $ | 23.99 | ||||||||||||||||||||||||||||||||||
Exercised | -1,166,511 | $ | 22.53 | $ | 18.7 | ||||||||||||||||||||||||||||||||
Outstanding and Exercisable - December 31, 2012 | 1,545,757 | $ | 24.92 | ||||||||||||||||||||||||||||||||||
Exercised | -324,382 | $ | 20.97 | $ | 6.7 | ||||||||||||||||||||||||||||||||
Outstanding and Exercisable - December 31, 2013 | 1,221,375 | $ | 25.97 | ||||||||||||||||||||||||||||||||||
Exercised | -869,759 | $ | 25.68 | $ | 16.4 | ||||||||||||||||||||||||||||||||
Outstanding and Exercisable - December 31, 2014 | 351,616 | $ | 26.69 | $ | 9.4 | ||||||||||||||||||||||||||||||||
Cash received for options exercised during the year ended December 31, 2014 totaled $22.3 million. The tax benefit realized from stock options exercised totaled $6.6 million for the year ended December 31, 2014. | |||||||||||||||||||||||||||||||||||||
Employee Share Purchase Plan: NU maintains an ESPP for eligible employees, which allows for NU common shares to be purchased by employees at the end of successive six-month offering periods at 95 percent of the closing market price on the last day of each six-month period. Employees are permitted to purchase shares having a value not exceeding 25 percent of their compensation as of the beginning of the offering period up to a specified limit. The ESPP qualifies as a non-compensatory plan under accounting guidance for share-based payments, and no compensation expense is recorded for ESPP purchases. | |||||||||||||||||||||||||||||||||||||
During 2014, employees purchased 40,779 shares at discounted prices of $41.61 and $41.71. Employees purchased 39,526 shares in 2013 at discounted prices of $38.69 and $42.19. As of December 31, 2014 and 2013, 776,975 and 817,754 shares, respectively, remained available for future issuance under the ESPP. | |||||||||||||||||||||||||||||||||||||
An income tax rate of 40 percent is used to estimate the tax effect on total share-based payments determined under the fair value-based method for all awards. The Company generally settles stock option exercises and fully vested RSUs and performance shares with either the issuance of new common shares or the issuance of common shares purchased in the open market. | |||||||||||||||||||||||||||||||||||||
OTHER_RETIREMENT_BENEFITS
OTHER RETIREMENT BENEFITS | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ||||||||||||||||||||||||||||||||
Compensation Related Costs, General [Text Block] | D. Other Retirement Benefits | |||||||||||||||||||||||||||||||
NU provides benefits for retirement and other benefits for certain current and past company officers of NU, including CL&P, PSNH and WMECO. These benefits are accounted for on an accrual basis and expensed over the service lives of the employees. The actuarially-determined liability for these benefits, which is included in Other Long-Term Liabilities on the balance sheets, as well as the related expense, are as follows: | ||||||||||||||||||||||||||||||||
NU | For the Years Ended December 31, | |||||||||||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | 2012 | |||||||||||||||||||||||||||||
Actuarially-Determined Liability | $ | 57.5 | $ | 51.3 | $ | 54.6 | ||||||||||||||||||||||||||
Other Retirement Benefits Expense | 4.5 | 4.4 | 4.7 | |||||||||||||||||||||||||||||
For the Years Ended December 31, | ||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||
(Millions of Dollars) | CL&P | NSTAR Electric | PSNH | WMECO | CL&P | PSNH | WMECO | CL&P | PSNH | WMECO | ||||||||||||||||||||||
Actuarially-Determined Liability | $ | 0.4 | $ | - | $ | 2.6 | $ | 0.2 | $ | 0.4 | $ | 2.3 | $ | 0.1 | $ | 0.4 | $ | 2.5 | $ | 0.2 | ||||||||||||
Other Retirement Benefits Expense | 2.1 | 0.3 | 0.9 | 0.4 | 2.5 | 1 | 0.5 | 2.6 | 1 | 0.5 |
INCOME_TAXES
INCOME TAXES | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||
Income Tax Disclosure [Text Block] | 10. INCOME TAXES | ||||||||||||||||||||||||||||||||||||
The components of income tax expense are as follows: | |||||||||||||||||||||||||||||||||||||
NU | For the Years Ended December 31, | ||||||||||||||||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | 2012 (1) | ||||||||||||||||||||||||||||||||||
Current Income Taxes: | |||||||||||||||||||||||||||||||||||||
Federal | $ | 4.4 | $ | 8.8 | $ | -30.9 | |||||||||||||||||||||||||||||||
State | 24.5 | -9.4 | 17.6 | ||||||||||||||||||||||||||||||||||
Total Current | 28.9 | -0.6 | -13.3 | ||||||||||||||||||||||||||||||||||
Deferred Income Taxes, Net: | |||||||||||||||||||||||||||||||||||||
Federal | 406.8 | 386.2 | 291.3 | ||||||||||||||||||||||||||||||||||
State | 36.5 | 45.4 | 0.8 | ||||||||||||||||||||||||||||||||||
Total Deferred | 443.3 | 431.6 | 292.1 | ||||||||||||||||||||||||||||||||||
Investment Tax Credits, Net | -3.9 | -4.1 | -3.9 | ||||||||||||||||||||||||||||||||||
Income Tax Expense | $ | 468.3 | $ | 426.9 | $ | 274.9 | |||||||||||||||||||||||||||||||
(1) NSTAR amounts were included in NU beginning April 10, 2012. | |||||||||||||||||||||||||||||||||||||
For the Years Ended December 31, | |||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||
NSTAR | NSTAR | NSTAR | |||||||||||||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | |||||||||||||||||||||||||
Current Income Taxes: | |||||||||||||||||||||||||||||||||||||
Federal | $ | -0.2 | $ | 75 | $ | -22.6 | $ | 1.9 | $ | 20.1 | $ | 95.8 | $ | -8.2 | $ | -53.4 | $ | -47.8 | $ | 93.5 | $ | -0.9 | $ | -24.7 | |||||||||||||
State | 4.3 | 20.2 | -0.1 | 1.8 | -6.7 | 29.6 | 3.6 | 4.2 | 3.1 | 27.6 | 3.4 | 3.4 | |||||||||||||||||||||||||
Total Current | 4.1 | 95.2 | -22.7 | 3.7 | 13.4 | 125.4 | -4.6 | -49.2 | -44.7 | 121.1 | 2.5 | -21.3 | |||||||||||||||||||||||||
Deferred Income Taxes, Net: | |||||||||||||||||||||||||||||||||||||
Federal | 138 | 88 | 79.6 | 28.1 | 114.9 | 49.8 | 64.5 | 84.7 | 141.5 | 11.4 | 46.5 | 51.2 | |||||||||||||||||||||||||
State | -7.1 | 20.1 | 15.2 | 6 | 15.1 | -1 | 11.2 | 2.3 | -0.5 | -7.1 | 12 | 2.7 | |||||||||||||||||||||||||
Total Deferred | 130.9 | 108.1 | 94.8 | 34.1 | 130 | 48.8 | 75.7 | 87 | 141 | 4.3 | 58.5 | 53.9 | |||||||||||||||||||||||||
Investment Tax Credits, Net | -1.5 | -1.3 | - | -0.5 | -1.7 | -1.3 | - | -0.4 | -1.9 | -1.4 | - | -0.5 | |||||||||||||||||||||||||
Income Tax Expense | $ | 133.5 | $ | 202 | $ | 72.1 | $ | 37.3 | $ | 141.7 | $ | 172.9 | $ | 71.1 | $ | 37.4 | $ | 94.4 | $ | 124 | $ | 61 | $ | 32.1 | |||||||||||||
A reconciliation between income tax expense and the expected tax expense at the statutory rate is as follows: | |||||||||||||||||||||||||||||||||||||
NU | For the Years Ended December 31, | ||||||||||||||||||||||||||||||||||||
(Millions of Dollars, except percentages) | 2014 | 2013 | 2012 (1) | ||||||||||||||||||||||||||||||||||
Income Before Income Tax Expense | $ | 1,295.40 | $ | 1,220.60 | $ | 808 | |||||||||||||||||||||||||||||||
Statutory Federal Income Tax Expense at 35% | 453.4 | 427.2 | 282.8 | ||||||||||||||||||||||||||||||||||
Tax Effect of Differences: | |||||||||||||||||||||||||||||||||||||
Depreciation | -5.6 | -7.4 | -10.8 | ||||||||||||||||||||||||||||||||||
Investment Tax Credit Amortization | -3.9 | -4.1 | -3.9 | ||||||||||||||||||||||||||||||||||
Other Federal Tax Credits | -3.5 | -3.7 | -3.8 | ||||||||||||||||||||||||||||||||||
State Income Taxes, Net of Federal Impact | 42.5 | 27.6 | 4.4 | ||||||||||||||||||||||||||||||||||
Dividends on ESOP | -8 | -8 | -6.4 | ||||||||||||||||||||||||||||||||||
Tax Asset Valuation Allowance/Reserve Adjustments | -2.9 | -4.3 | 7.6 | ||||||||||||||||||||||||||||||||||
Other, Net | -3.7 | -0.4 | 5 | ||||||||||||||||||||||||||||||||||
Income Tax Expense | $ | 468.3 | $ | 426.9 | $ | 274.9 | |||||||||||||||||||||||||||||||
Effective Tax Rate | 36.20% | 35.00% | 34.00% | ||||||||||||||||||||||||||||||||||
(1) NSTAR amounts were included in NU beginning April 10, 2012. | |||||||||||||||||||||||||||||||||||||
For the Years Ended December 31, | |||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||
(Millions of Dollars, | NSTAR | NSTAR | NSTAR | ||||||||||||||||||||||||||||||||||
except percentages) | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | |||||||||||||||||||||||||
Income Before Income Tax Expense | $ | 421.2 | $ | 505.1 | $ | 186.1 | $ | 95.1 | $ | 421.1 | $ | 441.4 | $ | 182.5 | $ | 97.8 | $ | 304.2 | $ | 314.2 | $ | 157.9 | $ | 86.6 | |||||||||||||
Statutory Federal Income Tax Expense at 35% | 147.4 | 176.8 | 65.1 | 33.3 | 147.4 | 154.5 | 63.9 | 34.2 | 106.5 | 110 | 55.3 | 30.3 | |||||||||||||||||||||||||
Tax Effect of Differences: | |||||||||||||||||||||||||||||||||||||
Depreciation | -3.6 | -1.3 | 0.3 | -0.2 | -7 | 0.1 | 0.6 | - | -9 | - | -0.3 | 0.2 | |||||||||||||||||||||||||
Investment Tax Credit Amortization | -1.5 | -1.3 | - | -0.5 | -1.7 | -1.3 | - | -0.4 | -1.9 | -1.4 | - | -0.5 | |||||||||||||||||||||||||
Other Federal Tax Credits | - | - | -3.5 | - | - | - | -3.7 | - | - | - | -3.8 | - | |||||||||||||||||||||||||
State Income Taxes, Net of Federal Impact | 4.4 | 26.2 | 9.8 | 5 | 5 | 18.6 | 9.6 | 4.2 | 0.1 | 13.4 | 10 | 4 | |||||||||||||||||||||||||
Tax Asset Valuation Allowance/ Reserve Adjustments | -6.3 | - | - | - | 0.4 | - | - | - | 1.6 | - | - | - | |||||||||||||||||||||||||
Other, Net | -6.9 | 1.6 | 0.4 | -0.3 | -2.4 | 1 | 0.7 | -0.6 | -2.9 | 2 | -0.2 | -1.9 | |||||||||||||||||||||||||
Income Tax Expense | $ | 133.5 | $ | 202 | $ | 72.1 | $ | 37.3 | $ | 141.7 | $ | 172.9 | $ | 71.1 | $ | 37.4 | $ | 94.4 | $ | 124 | $ | 61 | $ | 32.1 | |||||||||||||
Effective Tax Rate | 31.70% | 40.00% | 38.70% | 39.20% | 33.60% | 39.20% | 39.00% | 38.20% | 31.00% | 39.50% | 38.60% | 37.10% | |||||||||||||||||||||||||
NU, CL&P, NSTAR Electric, PSNH and WMECO file a consolidated federal income tax return and unitary, combined and separate state income tax returns. These entities are also parties to a tax allocation agreement under which taxable subsidiaries do not pay any more taxes than they would have otherwise paid had they filed a separate company tax return, and subsidiaries generating tax losses, if any, are paid for their losses when utilized. | |||||||||||||||||||||||||||||||||||||
Deferred tax assets and liabilities are recognized for the future tax effects of temporary differences between the carrying amounts and the tax basis of assets and liabilities. The tax effect of temporary differences is accounted for in accordance with the rate-making treatment of the applicable regulatory commissions and relevant accounting authoritative literature. The tax effects of temporary differences that give rise to the net accumulated deferred income tax obligations are as follows: | |||||||||||||||||||||||||||||||||||||
NU | As of December 31, | ||||||||||||||||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | |||||||||||||||||||||||||||||||||||
Deferred Tax Assets: | |||||||||||||||||||||||||||||||||||||
Employee Benefits | $ | 632.2 | $ | 435.2 | |||||||||||||||||||||||||||||||||
Derivative Liabilities | 199.6 | 272.9 | |||||||||||||||||||||||||||||||||||
Regulatory Deferrals - Liabilities | 366.7 | 272.7 | |||||||||||||||||||||||||||||||||||
Allowance for Uncollectible Accounts | 60.5 | 65 | |||||||||||||||||||||||||||||||||||
Tax Effect - Tax Regulatory Liabilities | 10 | 16.2 | |||||||||||||||||||||||||||||||||||
Federal Net Operating Loss Carryforwards | 59.1 | 158 | |||||||||||||||||||||||||||||||||||
Purchase Accounting Adjustment | 126.2 | 132.8 | |||||||||||||||||||||||||||||||||||
Other | 198.7 | 230.6 | |||||||||||||||||||||||||||||||||||
Total Deferred Tax Assets | 1,653.00 | 1,583.40 | |||||||||||||||||||||||||||||||||||
Less: Valuation Allowance | 5.1 | 24.3 | |||||||||||||||||||||||||||||||||||
Net Deferred Tax Assets | $ | 1,647.90 | $ | 1,559.10 | |||||||||||||||||||||||||||||||||
Deferred Tax Liabilities: | |||||||||||||||||||||||||||||||||||||
Accelerated Depreciation and Other Plant-Related Differences | $ | 4,215.90 | $ | 3,806.50 | |||||||||||||||||||||||||||||||||
Property Tax Accruals | 109.6 | 95.1 | |||||||||||||||||||||||||||||||||||
Regulatory Amounts: | |||||||||||||||||||||||||||||||||||||
Regulatory Deferrals - Assets | 1,277.90 | 1,146.70 | |||||||||||||||||||||||||||||||||||
Tax Effect - Tax Regulatory Assets | 240.2 | 248.2 | |||||||||||||||||||||||||||||||||||
Goodwill Regulatory Asset - 1999 Merger | 203.2 | 211.5 | |||||||||||||||||||||||||||||||||||
Derivative Assets | 32.6 | 30.1 | |||||||||||||||||||||||||||||||||||
Other | 196.3 | 157.1 | |||||||||||||||||||||||||||||||||||
Total Deferred Tax Liabilities | $ | 6,275.70 | $ | 5,695.20 | |||||||||||||||||||||||||||||||||
As of December 31, | |||||||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||||||
NSTAR | NSTAR | ||||||||||||||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | |||||||||||||||||||||||||||||
Deferred Tax Assets: | |||||||||||||||||||||||||||||||||||||
Employee Benefits | $ | 129 | $ | 39.9 | $ | 46.8 | $ | 9.2 | $ | 56 | $ | 38.3 | $ | 15.5 | $ | -1.8 | |||||||||||||||||||||
Derivative Liabilities | 193 | 1.8 | - | - | 272.4 | 3.3 | - | -2.9 | |||||||||||||||||||||||||||||
Regulatory Deferrals - Liabilities | 73.9 | 181.3 | 46.5 | 11.4 | 61.5 | 114.7 | 40.9 | 1 | |||||||||||||||||||||||||||||
Allowance for Uncollectible Accounts | 32.3 | 13.8 | 3.2 | 3.8 | 31.2 | 15.4 | 3.1 | 3.3 | |||||||||||||||||||||||||||||
Tax Effect - Tax Regulatory Liabilities | 3.1 | 1.8 | 2.1 | 2.5 | 4.7 | 5.4 | 2.1 | 1.6 | |||||||||||||||||||||||||||||
Federal Net Operating Loss Carryforwards | - | - | 32.1 | 4.5 | 51 | - | 56.6 | 18.6 | |||||||||||||||||||||||||||||
Other | 53.8 | 19.9 | 48.9 | 4.9 | 75.3 | 31.3 | 40.3 | 8.3 | |||||||||||||||||||||||||||||
Total Deferred Tax Assets | 485.1 | 258.5 | 179.6 | 36.3 | 552.1 | 208.4 | 158.5 | 28.1 | |||||||||||||||||||||||||||||
Less: Valuation Allowance | 4 | - | - | - | 23.1 | - | - | - | |||||||||||||||||||||||||||||
Net Deferred Tax Assets | $ | 481.1 | $ | 258.5 | $ | 179.6 | $ | 36.3 | $ | 529 | $ | 208.4 | $ | 158.5 | $ | 28.1 | |||||||||||||||||||||
Deferred Tax Liabilities: | |||||||||||||||||||||||||||||||||||||
Accelerated Depreciation and Other Plant-Related Differences | $ | 1,378.60 | $ | 1,296.90 | $ | 596.6 | $ | 385.8 | $ | 1,238.10 | $ | 1,179.40 | $ | 526.6 | $ | 361.1 | |||||||||||||||||||||
Property Tax Accruals | 58.1 | 25 | 7.4 | 12.8 | 49.3 | 25.3 | 7.1 | 5.9 | |||||||||||||||||||||||||||||
Regulatory Amounts: | |||||||||||||||||||||||||||||||||||||
Regulatory Deferrals - Assets | 502.3 | 276 | 147.6 | 60.4 | 550.4 | 276.2 | 109.3 | 49.3 | |||||||||||||||||||||||||||||
Tax Effect - Tax Regulatory Assets | 166.9 | 35.5 | 15.9 | 9.3 | 160.1 | 36 | 16.3 | 18.2 | |||||||||||||||||||||||||||||
Goodwill Regulatory Asset - 1999 Merger | - | 174.4 | - | - | - | 181.6 | - | - | |||||||||||||||||||||||||||||
Derivative Assets | 32.6 | - | - | - | 29 | 0.5 | - | - | |||||||||||||||||||||||||||||
Other | 19.4 | 33.5 | 35.6 | 2.8 | 20.6 | 26.4 | 28 | 3.6 | |||||||||||||||||||||||||||||
Total Deferred Tax Liabilities | $ | 2,157.90 | $ | 1,841.30 | $ | 803.1 | $ | 471.1 | $ | 2,047.50 | $ | 1,725.40 | $ | 687.3 | $ | 438.1 | |||||||||||||||||||||
Carryforwards: The following tables provide the amounts and expiration dates of state tax credit and loss carryforwards and federal tax credit and net operating loss carryforwards: | |||||||||||||||||||||||||||||||||||||
As of December 31, 2014 | |||||||||||||||||||||||||||||||||||||
NSTAR | |||||||||||||||||||||||||||||||||||||
(Millions of Dollars) | NU | CL&P | Electric | PSNH | WMECO | Expiration Range | |||||||||||||||||||||||||||||||
Federal Net Operating Loss | $ | 168.8 | $ | - | $ | - | $ | 91.8 | $ | 12.7 | 2031 - 2032 | ||||||||||||||||||||||||||
Federal Tax Credit | 16.3 | 0.1 | 0.2 | 11.1 | - | 2031 - 2034 | |||||||||||||||||||||||||||||||
Federal Charitable Contribution | 19.4 | - | - | - | - | 2016 - 2018 | |||||||||||||||||||||||||||||||
State Tax Credit | 99.7 | 71 | - | - | - | 2014 - 2019 | |||||||||||||||||||||||||||||||
State Loss Carryforwards | 40.6 | - | - | - | - | 2014 - 2034 | |||||||||||||||||||||||||||||||
State Charitable Contribution | 2.1 | - | - | - | - | 2015 - 2018 | |||||||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||||||||||
NSTAR | |||||||||||||||||||||||||||||||||||||
(Millions of Dollars) | NU | CL&P | Electric | PSNH | WMECO | Expiration Range | |||||||||||||||||||||||||||||||
Federal Net Operating Loss | $ | 451.3 | $ | 145.8 | $ | - | $ | 161.8 | $ | 53.3 | 2031 - 2032 | ||||||||||||||||||||||||||
Federal Tax Credit | 8 | - | - | 7.6 | - | 2031 - 2033 | |||||||||||||||||||||||||||||||
Federal Charitable Contribution | 33.7 | - | - | - | - | 2015 - 2017 | |||||||||||||||||||||||||||||||
State Tax Credit | 104.7 | 86.8 | - | - | - | 2013 - 2018 | |||||||||||||||||||||||||||||||
State Loss Carryforwards | 12.1 | - | - | - | - | 2013 - 2015 | |||||||||||||||||||||||||||||||
State Charitable Contribution | 1 | - | - | - | - | 2015 | |||||||||||||||||||||||||||||||
In 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 $19.2 million at CL&P, net of tax, to reflect an update for expired state credits and latest estimate of usage. | |||||||||||||||||||||||||||||||||||||
For 2014, state credit and state loss carryforwards have been partially reserved by a valuation allowance of $4.4 million (net of federal income tax). For 2013, state credit and state loss carryforwards have been partially reserved by a valuation allowance of $23.7 million (net of federal income tax). | |||||||||||||||||||||||||||||||||||||
Unrecognized Tax Benefits: A reconciliation of the activity in unrecognized tax benefits, all of which would impact the effective tax rate if recognized, is as follows: | |||||||||||||||||||||||||||||||||||||
(Millions of Dollars) | NU | CL&P | |||||||||||||||||||||||||||||||||||
Balance as of January 1, 2012 | $ | 73.5 | $ | 46.5 | |||||||||||||||||||||||||||||||||
Gross Increases - Current Year | 10.3 | 2.5 | |||||||||||||||||||||||||||||||||||
Gross Increases - Prior Year | 0.1 | - | |||||||||||||||||||||||||||||||||||
Gross Decreases - Prior Year | -0.8 | - | |||||||||||||||||||||||||||||||||||
Balance as of December 31, 2012 | 83.1 | 49 | |||||||||||||||||||||||||||||||||||
Gross Increases - Current Year | 8.2 | 2.1 | |||||||||||||||||||||||||||||||||||
Gross Decreases - Prior Year | -1.1 | -0.3 | |||||||||||||||||||||||||||||||||||
Settlements | -49.8 | -39.4 | |||||||||||||||||||||||||||||||||||
Lapse of Statute of Limitations | -2.2 | - | |||||||||||||||||||||||||||||||||||
Balance as of December 31, 2013 | 38.2 | 11.4 | |||||||||||||||||||||||||||||||||||
Gross Increases - Current Year | 9.3 | 2.7 | |||||||||||||||||||||||||||||||||||
Gross Increases - Prior Year | 0.3 | 0.2 | |||||||||||||||||||||||||||||||||||
Lapse of Statute of Limitations | -1.6 | - | |||||||||||||||||||||||||||||||||||
Balance as of December 31, 2014 | $ | 46.2 | $ | 14.3 | |||||||||||||||||||||||||||||||||
Interest and Penalties: Interest on uncertain tax positions is recorded and generally classified as a component of Other Interest Expense on the statements of income. However, when resolution of uncertainties results in the Company receiving interest income, any related interest benefit is recorded in Other Income, Net on the statements of income. No penalties have been recorded. The amount of interest expense/(income) on uncertain tax positions recognized and the related accrued interest payable/(receivable) are as follows: | |||||||||||||||||||||||||||||||||||||
Other Interest | For the Years Ended December 31, | Accrued Interest | As of December 31, | ||||||||||||||||||||||||||||||||||
Expense/(Income) | 2014 | 2013 | 2012 | Expense | 2014 | 2013 | |||||||||||||||||||||||||||||||
(Millions of Dollars) | (Millions of Dollars) | ||||||||||||||||||||||||||||||||||||
NU (1) | $ | 0.4 | $ | -8.6 | $ | 3.1 | NU | $ | 1.9 | $ | 1.5 | ||||||||||||||||||||||||||
CL&P | - | -4 | 1.3 | CL&P | - | - | |||||||||||||||||||||||||||||||
NSTAR amounts were included in NU beginning April 10, 2012. | |||||||||||||||||||||||||||||||||||||
Tax Positions: During 2014, NU did not resolve any of its uncertain tax positions. | |||||||||||||||||||||||||||||||||||||
During 2013, NU received a Final Determination from the Connecticut Department of Revenue Services (DRS) that concluded its audit of NU's Connecticut income tax returns for the years 2005 through 2008. The DRS Determination resulted in total NU and CL&P after-tax benefits of $13.6 million and $6.9 million, respectively, that included a reduction in NU and CL&P pre-tax interest expense of $8.7 million and $4 million, or $5.2 million and $2.4 million after-tax, respectively. Further, the income tax expense impact resulted in a tax benefit to NU and CL&P of $8.4 million and $4.5 million after-tax, respectively. | |||||||||||||||||||||||||||||||||||||
Open Tax Years: The following table summarizes NU, CL&P, NSTAR Electric, PSNH and WMECO's tax years that remain subject to examination by major tax jurisdictions as of December 31, 2014: | |||||||||||||||||||||||||||||||||||||
Description | Tax Years | ||||||||||||||||||||||||||||||||||||
Federal | 2014 | ||||||||||||||||||||||||||||||||||||
Connecticut | 2011 - 2014 | ||||||||||||||||||||||||||||||||||||
Massachusetts | 2011 - 2014 | ||||||||||||||||||||||||||||||||||||
New Hampshire | 2011 - 2014 | ||||||||||||||||||||||||||||||||||||
NU estimates that during the next twelve months, differences of a non-timing nature could be resolved, resulting in a zero to $2 million decrease in unrecognized tax benefits by NU. These estimated changes are not expected to have a material impact on the earnings of NU. Other companies' impacts are not expected to be material. | |||||||||||||||||||||||||||||||||||||
2014 Federal Legislation: On December 19, 2014, the "Tax Increase Prevention Act of 2014" became law, which extended the accelerated deduction of depreciation to businesses through 2014. This extended stimulus provides NU with cash flow benefits of approximately $200 million (approximately $70 million at CL&P, $50 million at NSTAR Electric, $35 million at PSNH, and $15 million at WMECO) in 2015. | |||||||||||||||||||||||||||||||||||||
2013 Federal Legislation: On January 2, 2013, the "American Taxpayer Relief Act of 2012" became law, which extended the accelerated deduction of depreciation to businesses through 2013. This extended stimulus provided NU with cash flow benefits of approximately $300 million (approximately $95 million at CL&P, $85 million at NSTAR Electric, $35 million at PSNH, and $50 million at WMECO). | |||||||||||||||||||||||||||||||||||||
On September 13, 2013, the Internal Revenue Service issued final Tangible Property regulations that are meant to simplify, clarify and make more administrable previously issued guidance. NU is in compliance with the new regulations, but continues to evaluate several new potential elections. | |||||||||||||||||||||||||||||||||||||
2013 Massachusetts: On July 24, 2013, Massachusetts enacted a law that changed the income tax rate applicable to utility companies effective January 1, 2014, from 6.5 percent to 8 percent. The tax law change required NU to remeasure its accumulated deferred income taxes and resulted in NU increasing its deferred tax liability with an offsetting regulatory asset of approximately $61 million at its utility companies ($46.3 million at NSTAR Electric and $9.8 million at WMECO). |
COMMITMENTS_AND_CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Text Block] | 11. 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. | |||||||||||||||||||||||||||||||||||||
Environmental reserves are accrued when assessments indicate it is probable that a liability has been incurred and an amount can be reasonably estimated. The approach used estimates the liability based on the most likely action plan from a variety of available remediation options, including no action required or several different remedies ranging from establishing institutional controls to full site remediation and monitoring. | |||||||||||||||||||||||||||||||||||||
These estimates are subjective in nature as they take into consideration several different remediation options at each specific site. The reliability and precision of these estimates can be affected by several factors, including new information concerning either the level of contamination at the site, the extent of NU, CL&P, NSTAR Electric, PSNH and WMECO's responsibility or the extent of remediation required, recently enacted laws and regulations or a change in cost estimates due to certain economic factors. | |||||||||||||||||||||||||||||||||||||
The amounts recorded as environmental liabilities included in Other Current Liabilities and Other Long-Term Liabilities on the balance sheets represent management's best estimate of the liability for environmental costs, and take into consideration site assessment, remediation and long-term monitoring costs. The environmental liability also takes into account recurring costs of managing hazardous substances and pollutants, mandated expenditures to remediate previously contaminated sites and any other infrequent and non-recurring clean-up costs. A reconciliation of the activity in the environmental reserves is as follows: | |||||||||||||||||||||||||||||||||||||
(Millions of Dollars) | NU | CL&P | NSTAR Electric | PSNH | WMECO | ||||||||||||||||||||||||||||||||
Balance as of January 1, 2013 | $ | 39.4 | $ | 3.7 | $ | 1.7 | $ | 4.9 | $ | 0.6 | |||||||||||||||||||||||||||
Additions | 3.5 | 0.2 | 0.2 | 1 | - | ||||||||||||||||||||||||||||||||
Payments/Reductions | -7.5 | -0.5 | -0.7 | -0.5 | -0.2 | ||||||||||||||||||||||||||||||||
Balance as of December 31, 2013 | 35.4 | 3.4 | 1.2 | 5.4 | 0.4 | ||||||||||||||||||||||||||||||||
Additions | 12.7 | 1 | - | 0.1 | 0.2 | ||||||||||||||||||||||||||||||||
Payments/Reductions | -4.8 | -0.6 | -0.1 | -0.3 | -0.1 | ||||||||||||||||||||||||||||||||
Balance as of December 31, 2014 | $ | 43.3 | $ | 3.8 | $ | 1.1 | $ | 5.2 | $ | 0.5 | |||||||||||||||||||||||||||
These liabilities are estimated on an undiscounted basis and do not assume that any amounts are recoverable from insurance companies or other third parties. The environmental reserves include sites at different stages of discovery and remediation and do not include any unasserted claims. | |||||||||||||||||||||||||||||||||||||
It is possible that new information or future developments could require a reassessment of the potential exposure to related environmental matters. As this information becomes available, management will continue to assess the potential exposure and adjust the reserves accordingly. | |||||||||||||||||||||||||||||||||||||
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 December 31, 2014 | As of December 31, 2013 | ||||||||||||||||||||||||||||||||||||
Reserve | Reserve | ||||||||||||||||||||||||||||||||||||
Number of Sites | (in millions) | Number of Sites | (in millions) | ||||||||||||||||||||||||||||||||||
NU | 65 | $ | 43.3 | 68 | $ | 35.4 | |||||||||||||||||||||||||||||||
CL&P | 16 | 3.8 | 18 | 3.4 | |||||||||||||||||||||||||||||||||
NSTAR Electric | 13 | 1.1 | 12 | 1.2 | |||||||||||||||||||||||||||||||||
PSNH | 13 | 5.2 | 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 $38.8 million and $31.4 million as of December 31, 2014 and 2013, respectively, and relates primarily to the natural gas business segment. The increase in the reserve balance for the MGP sites was due to the completion of the site assessment at three sites. The assessments provided new information related to the extent and nature of the contamination and the costs of required remediation. | |||||||||||||||||||||||||||||||||||||
As of December 31, 2014, for 5 environmental sites (1 for CL&P, and 1 for WMECO) that are included in the Company's reserve for environmental costs, the information known and nature of the remediation options at those sites allow for the Company to estimate the range of losses for environmental costs. As of December 31, 2014, $17.7 million ($1 million for CL&P and $0.3 million for WMECO) had been accrued as a liability for these sites, which represent management's best estimates of the liabilities for environmental costs. These amounts are the best estimates with estimated ranges of additional losses from zero to $24 million. | |||||||||||||||||||||||||||||||||||||
As of December 31, 2014, for 15 environmental sites (3 for CL&P, 3 for NSTAR Electric and 2 for PSNH) that are included in the Company's reserve for environmental costs, management cannot reasonably estimate the exposure to loss in excess of the reserve, or range of loss, as these sites are under investigation and/or there is significant uncertainty as to what remedial actions, if any, the Company may be required to undertake. As of December 31, 2014, $13.4 million ($1.4 million for CL&P, $0.2 million for PSNH) had been accrued as a liability for these sites. As of December 31, 2014, for the remaining 45 environmental sites (12 for CL&P, 10 for NSTAR Electric, 11 for PSNH, and 3 for WMECO) that are included in the Company's reserve for environmental costs, the $12.2 million accrual ($1.4 million for CL&P, $1.1 million for NSTAR Electric, $5 million for PSNH, and $0.2 million for WMECO) represents management's best estimate of the liability and no additional loss is anticipated. | |||||||||||||||||||||||||||||||||||||
CERCLA: Of the total environmental sites, 9 sites (1 for CL&P, 3 for NSTAR Electric and 3 for PSNH) are superfund sites under the federal Comprehensive Environmental Response, Compensation and Liability Act of 1980 (CERCLA) and its amendments or state equivalents for which the Company has been notified that it is a potentially responsible party but for which the site assessment and remediation are not being managed by the Company. As of December 31, 2014, a liability of $0.7 million accrued on these sites represents management's best estimate of its potential remediation costs with respect to these superfund sites. | |||||||||||||||||||||||||||||||||||||
Environmental Rate Recovery: PSNH, NSTAR Gas and Yankee Gas have rate recovery mechanisms for MGP related environmental costs. CL&P recovers a certain level of environmental costs currently in rates but does not have an environmental cost recovery tracking mechanism. Accordingly, changes in CL&P's environmental reserves impact CL&P's Net Income. NSTAR Electric and WMECO do not have a separate regulatory mechanism to recover environmental costs from its customers, and changes in NSTAR Electric's and WMECO's environmental reserves impact Net Income. | |||||||||||||||||||||||||||||||||||||
B. | Long-Term Contractual Arrangements | ||||||||||||||||||||||||||||||||||||
Estimated Future Annual Costs: The estimated future annual costs of significant long-term contractual arrangements as of December 31, 2014 are as follows: | |||||||||||||||||||||||||||||||||||||
NU | |||||||||||||||||||||||||||||||||||||
(Millions of Dollars) | 2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | ||||||||||||||||||||||||||||||
Supply and Stranded Cost | $ | 196.6 | $ | 169.2 | $ | 101.9 | $ | 65.3 | $ | 38.1 | $ | 82.4 | $ | 653.5 | |||||||||||||||||||||||
Renewable Energy | 204.3 | 240.5 | 239.6 | 204.2 | 202.9 | 1,994.60 | 3,086.10 | ||||||||||||||||||||||||||||||
Peaker CfDs | 26.3 | 25.4 | 10.5 | - | - | - | 62.2 | ||||||||||||||||||||||||||||||
Natural Gas Procurement | 133.7 | 116.3 | 45.6 | 31.9 | 25.8 | 85.1 | 438.4 | ||||||||||||||||||||||||||||||
Coal, Wood and Other | 99 | 25.2 | 5 | 5 | 1.9 | 15 | 151.1 | ||||||||||||||||||||||||||||||
Transmission Support Commitments | 25.9 | 21.6 | 19 | 21.2 | 21.3 | 21.3 | 130.3 | ||||||||||||||||||||||||||||||
Total | $ | 685.8 | $ | 598.2 | $ | 421.6 | $ | 327.6 | $ | 290 | $ | 2,198.40 | $ | 4,521.60 | |||||||||||||||||||||||
CL&P | |||||||||||||||||||||||||||||||||||||
(Millions of Dollars) | 2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | ||||||||||||||||||||||||||||||
Supply and Stranded Cost | $ | 134.3 | $ | 136.8 | $ | 79 | $ | 42 | $ | 25 | $ | 43.6 | $ | 460.7 | |||||||||||||||||||||||
Renewable Energy | 61.2 | 70.3 | 71.3 | 72.1 | 72.1 | 715.9 | 1,062.90 | ||||||||||||||||||||||||||||||
Peaker CfDs | 26.3 | 25.4 | 10.5 | - | - | - | 62.2 | ||||||||||||||||||||||||||||||
Transmission Support Commitments | 10.2 | 8.5 | 7.5 | 8.4 | 8.4 | 8.4 | 51.4 | ||||||||||||||||||||||||||||||
Yankee Billings | 1.4 | 0.8 | 0.8 | 0.9 | 0.9 | 11.8 | 16.6 | ||||||||||||||||||||||||||||||
Total | $ | 233.4 | $ | 241.8 | $ | 169.1 | $ | 123.4 | $ | 106.4 | $ | 779.7 | $ | 1,653.80 | |||||||||||||||||||||||
NSTAR Electric | |||||||||||||||||||||||||||||||||||||
(Millions of Dollars) | 2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | ||||||||||||||||||||||||||||||
Supply and Stranded Cost | $ | 34.3 | $ | 14.1 | $ | 4.8 | $ | 5.5 | $ | 5.5 | $ | 31.4 | $ | 95.6 | |||||||||||||||||||||||
Renewable Energy | 85.4 | 99.9 | 96.9 | 59.6 | 57.7 | 319.8 | 719.3 | ||||||||||||||||||||||||||||||
Transmission Support Commitments | 8.1 | 6.7 | 5.9 | 6.6 | 6.6 | 6.6 | 40.5 | ||||||||||||||||||||||||||||||
Yankee Billings | 0.5 | 0.3 | 0.3 | 0.3 | 0.3 | 4 | 5.7 | ||||||||||||||||||||||||||||||
Total | $ | 128.3 | $ | 121 | $ | 107.9 | $ | 72 | $ | 70.1 | $ | 361.8 | $ | 861.1 | |||||||||||||||||||||||
PSNH | |||||||||||||||||||||||||||||||||||||
(Millions of Dollars) | 2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | ||||||||||||||||||||||||||||||
Supply and Stranded Cost | $ | 28 | $ | 18.3 | $ | 18.1 | $ | 17.8 | $ | 7.6 | $ | 7.4 | $ | 97.2 | |||||||||||||||||||||||
Renewable Energy | 57.7 | 67.9 | 69 | 70.1 | 70.7 | 932.4 | 1,267.80 | ||||||||||||||||||||||||||||||
Coal, Wood and Other | 99 | 25.2 | 5 | 5 | 1.9 | 15 | 151.1 | ||||||||||||||||||||||||||||||
Transmission Support Commitments | 5.5 | 4.6 | 4 | 4.5 | 4.5 | 4.5 | 27.6 | ||||||||||||||||||||||||||||||
Yankee Billings | 0.4 | 0.3 | 0.3 | 0.3 | 0.3 | 4.7 | 6.3 | ||||||||||||||||||||||||||||||
Total | $ | 190.6 | $ | 116.3 | $ | 96.4 | $ | 97.7 | $ | 85 | $ | 964 | $ | 1,550.00 | |||||||||||||||||||||||
WMECO | |||||||||||||||||||||||||||||||||||||
(Millions of Dollars) | 2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | ||||||||||||||||||||||||||||||
Renewable Energy | $ | - | $ | 2.4 | $ | 2.4 | $ | 2.4 | $ | 2.4 | $ | 26.5 | $ | 36.1 | |||||||||||||||||||||||
Transmission Support Commitments | 2.1 | 1.8 | 1.6 | 1.7 | 1.8 | 1.8 | 10.8 | ||||||||||||||||||||||||||||||
Yankee Billings | 0.3 | 0.2 | 0.2 | 0.2 | 0.2 | 3 | 4.1 | ||||||||||||||||||||||||||||||
Total | $ | 2.4 | $ | 4.4 | $ | 4.2 | $ | 4.3 | $ | 4.4 | $ | 31.3 | $ | 51 | |||||||||||||||||||||||
Supply and Stranded Cost: CL&P, NSTAR Electric and PSNH have various IPP contracts or purchase obligations for electricity, including payment obligations resulting from the buydown of electricity purchase contracts. Such contracts extend through 2024 for CL&P, 2030 for NSTAR Electric and 2023 for PSNH. | |||||||||||||||||||||||||||||||||||||
In addition, CL&P, along with UI, has four capacity CfDs for a total of approximately 787 MW of capacity consisting of three generation projects and one demand response project. The capacity CfDs 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 capacity market prices received by the generation facilities in the ISO-NE capacity markets. CL&P has a sharing agreement with UI, whereby UI will share 20 percent of the costs and benefits of these contracts. CL&P's portion of the costs and benefits of these contracts will be paid by or refunded to CL&P's customers. | |||||||||||||||||||||||||||||||||||||
The contractual obligations table does not include CL&P's SS or LRS, or NSTAR Electric's or WMECO's default service contracts, the amounts of which vary with customers' energy needs. The contractual obligations table also does not include PSNH's short-term power supply management. | |||||||||||||||||||||||||||||||||||||
Renewable Energy: Renewable energy contracts include non-cancellable commitments under contracts of CL&P, NSTAR Electric, PSNH, and WMECO for the purchase of energy and capacity from renewable energy facilities. Such contracts extend through 2035 for CL&P, 2030 for NSTAR Electric, 2033 for PSNH and 2030 for WMECO. | |||||||||||||||||||||||||||||||||||||
The contractual obligations table does not include long-term commitments signed by CL&P, NSTAR Electric and WMECO, as required by the PURA and DPU, for the purchase of renewable energy and related products that are contingent on the future construction of energy facilities. | |||||||||||||||||||||||||||||||||||||
Peaker CfDs: In 2008, CL&P entered into three CfDs with developers of peaking generation units approved by the PURA (Peaker CfDs). These units have a total of approximately 500 MW of peaking capacity. As directed by the PURA, CL&P and UI have entered into a sharing agreement, whereby CL&P is responsible for 80 percent and UI for 20 percent of the net costs or benefits of these CfDs. The Peaker CfDs pay the generation facility owner the difference between capacity, forward reserve and energy market revenues and a cost-of-service payment stream for 30 years. The ultimate cost or benefit to CL&P under these contracts will depend on the costs of plant operation and the prices that the projects receive for capacity and other products in the ISO-NE markets. CL&P's portion of the amounts paid or received under the Peaker CfDs will be recoverable from or refunded to CL&P's customers. | |||||||||||||||||||||||||||||||||||||
Natural Gas Procurement: NU's natural gas distribution businesses have long-term contracts for the purchase, transportation and storage of natural gas in the normal course of business as part of its portfolio of supplies. These contracts extend through 2029. | |||||||||||||||||||||||||||||||||||||
Coal, Wood and Other: PSNH has entered into various arrangements for the purchase of coal, wood and the transportation services for fuel supply for its electric generating assets. Also included in the table above is a contract for capacity on the Portland Natural Gas Transmission System (PNGTS) pipeline that extends through 2018. The costs on this contract of $11.4 million are not recoverable from customers. | |||||||||||||||||||||||||||||||||||||
Transmission Support Commitments: Along with other New England utilities, CL&P, NSTAR Electric, PSNH and WMECO entered into agreements in 1985 to support transmission and terminal facilities that were built to import electricity from the Hydro-Québec system in Canada. CL&P, NSTAR Electric, PSNH and WMECO are obligated to pay, over a 30-year period ending in 2020, their proportionate shares of the annual operation and maintenance expenses and capital costs of those facilities. | |||||||||||||||||||||||||||||||||||||
The total costs incurred under these agreements were as follows: | |||||||||||||||||||||||||||||||||||||
NU | For the Years Ended December 31, | ||||||||||||||||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | 2012 (1) | ||||||||||||||||||||||||||||||||||
Supply and Stranded Cost | $ | 99.2 | $ | 141 | $ | 216.8 | |||||||||||||||||||||||||||||||
Renewable Energy | 114.4 | 91.3 | 48.7 | ||||||||||||||||||||||||||||||||||
Peaker CfDs | 18.1 | 51.9 | 59.3 | ||||||||||||||||||||||||||||||||||
Natural Gas Procurement | 482.5 | 349.8 | 243.1 | ||||||||||||||||||||||||||||||||||
Coal, Wood and Other | 120.5 | 112.6 | 105.2 | ||||||||||||||||||||||||||||||||||
Transmission Support Commitments | 25 | 24.9 | 24.8 | ||||||||||||||||||||||||||||||||||
For the Years Ended December 31, | |||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||
NSTAR | NSTAR | NSTAR | |||||||||||||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | |||||||||||||||||||||||||
Supply and Stranded Cost | $ | 63 | $ | 7 | $ | 26 | $ | 3.2 | $ | 77.6 | $ | 32.4 | $ | 29 | $ | 2 | $ | 158.2 | $ | 36.3 | $ | 30.5 | $ | 0.9 | |||||||||||||
Renewable Energy | 0.7 | 87.4 | 26.3 | - | - | 84.9 | 6.4 | - | - | 60.2 | 4.1 | - | |||||||||||||||||||||||||
Peaker CfDs | 18.1 | - | - | - | 51.9 | - | - | - | 59.3 | - | - | - | |||||||||||||||||||||||||
Coal, Wood and Other | - | - | 120.5 | - | - | - | 112.6 | - | - | - | 105.2 | - | |||||||||||||||||||||||||
Transmission Support Commitments | 9.9 | 7.7 | 5.3 | 2.1 | 9.8 | 7.7 | 5.3 | 2.1 | 9.6 | 7.6 | 5.2 | 2 | |||||||||||||||||||||||||
(1) NSTAR amounts were included in NU beginning April 10, 2012. | |||||||||||||||||||||||||||||||||||||
C. Contractual Obligations - Yankee Companies | |||||||||||||||||||||||||||||||||||||
CL&P, NSTAR Electric, PSNH and WMECO have decommissioning and plant closure cost obligations to the Yankee Companies, which have each completed the physical decommissioning of their respective nuclear facilities and are now engaged in the long-term storage of their spent fuel. The Yankee Companies collect decommissioning and closure costs through wholesale, FERC-approved rates charged under power purchase agreements with several New England utilities, including CL&P, NSTAR Electric, PSNH and WMECO. These companies in turn recover these costs from their customers through state regulatory commission-approved retail rates. | |||||||||||||||||||||||||||||||||||||
CL&P, NSTAR Electric, PSNH and WMECO's percentage share of the obligations to support the Yankee Companies under FERC-approved rate tariffs is the same as their respective ownership percentages in the Yankee Companies. For further information on the ownership percentages, see Note 1J, "Summary of Significant Accounting Policies - Equity Method Investments," to the financial statements. | |||||||||||||||||||||||||||||||||||||
The Yankee Companies have collected or are currently collecting amounts that management believes are adequate to recover the remaining decommissioning and closure cost estimates for the respective plants. Management believes CL&P, NSTAR Electric and WMECO will recover their shares of these decommissioning and closure obligations from their customers. PSNH has already recovered its share of these costs from its customers. | |||||||||||||||||||||||||||||||||||||
Spent Nuclear Fuel Litigation: | |||||||||||||||||||||||||||||||||||||
DOE Phase I Damages – In 1998, the Yankee Companies filed separate complaints against the DOE in the Court of Federal Claims seeking monetary damages resulting from the DOE's failure to begin accepting spent nuclear fuel for disposal by January 31, 1998 pursuant to the terms of the 1983 spent fuel and high level waste disposal contracts between the Yankee Companies and the DOE (DOE Phase I Damages). Phase I covered damages for the period 1998 through 2002. Following multiple appeals and cross-appeals, in December 2012, the judgment awarding CYAPC $39.6 million, YAEC $38.3 million and MYAPC $81.7 million became final. | |||||||||||||||||||||||||||||||||||||
In January 2013, the proceeds from the DOE Phase I Damages Claim were received by the Yankee Companies and transferred to each Yankee Company's respective decommissioning trust. As a result of NU's consolidation of CYAPC and YAEC, the financial statements reflected an increase of $77.9 million in marketable securities for CYAPC and YAEC's Phase I Damage awards that were invested in the nuclear decommissioning trusts in 2013. | |||||||||||||||||||||||||||||||||||||
In June 2013, FERC approved CYAPC, YAEC and MYAPC to reduce rates in their wholesale power contracts through the application of the DOE proceeds for the benefit of customers. Changes to the terms of the wholesale power contracts became effective on July 1, 2013. In accordance with the FERC order, CL&P, NSTAR Electric, PSNH and WMECO began receiving the benefit of the DOE proceeds, and the benefits have been passed on to customers. | |||||||||||||||||||||||||||||||||||||
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. | |||||||||||||||||||||||||||||||||||||
DOE Phase II Damages - In December 2007, the Yankee Companies each filed subsequent lawsuits against the DOE seeking recovery of actual damages incurred related to the alleged failure of the DOE to provide for a permanent facility to store spent nuclear fuel generated in years 2001 through 2008 for CYAPC and YAEC and from 2002 through 2008 for MYAPC (DOE Phase II Damages). In November 2013, the court issued a final judgment awarding CYAPC $126.3 million, YAEC $73.3 million, and MYAPC $35.8 million. 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. | |||||||||||||||||||||||||||||||||||||
In March and April 2014, CYAPC, YAEC and MYAPC received payment of $126.3 million, $73.3 million and $35.8 million, respectively, of the DOE Phase II Damages proceeds and 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 December 31, 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 – In August 2013, the Yankee Companies each filed subsequent lawsuits against the DOE seeking recovery of actual damages incurred in the years 2009 through 2012. The presiding judge issued a Pre-Trial Scheduling Order on September 3, 2014 that set the case for trial from June 30 to July 2, 2015. | |||||||||||||||||||||||||||||||||||||
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 December 31, 2014: | |||||||||||||||||||||||||||||||||||||
Maximum Exposure | |||||||||||||||||||||||||||||||||||||
Subsidiary | Description | (in millions) | Expiration Dates | ||||||||||||||||||||||||||||||||||
Various | Surety Bonds (1) | $ | 60 | 2015 - 2016 | |||||||||||||||||||||||||||||||||
NUSCO and Rocky River Realty Company | Lease Payments for Vehicles and Real Estate | $ | 14.4 | 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 | |||||||||||||||||||||||||||||||||||||
Beginning in 2011, several New England state attorneys general, state regulatory commissions, consumer advocates, consumer groups, municipal parties and other parties (the "Complainants") jointly filed three separate complaints at FERC. In the first complaint, filed in 2011, the Complainants alleged that the NETOs' base ROE of 11.14 percent that was utilized since 2006 was unjust and unreasonable, asserted that the rate was excessive due to changes in the capital markets, and sought an order to reduce it prospectively from the date of the final FERC order and for the 15-month period beginning October 1, 2011 to December 31, 2012 (the "first complaint refund period"). In the pursuant second and third complaints, filed in 2012 and 2014, respectively, the Complainants challenged the NETOs' base ROE and sought refunds for the 15-month periods beginning December 27, 2012 and July 31, 2014, respectively. | |||||||||||||||||||||||||||||||||||||
In 2014, the FERC determined that the base ROE should be set at 10.57 percent for the first complaint refund period and that a utility's total or maximum ROE should not exceed the top of the new zone of reasonableness (7.03 percent to 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 of 10.57 percent prospectively from October 16, 2014. In late 2014, the NETOs made a compliance filing, and began refunding amounts from the first complaint period, inclusive of incentive ROE adders that exceeded the 11.74 percent as compared to the total company transmission ROE. Complainants have challenged the compliance filing. | |||||||||||||||||||||||||||||||||||||
As a result of the actions taken by the FERC and other developments in this matter, NU recorded reserves in 2013 and 2014 to recognize the potential financial impacts of the first and second complaints. The Company is unable to determine any amount related to the third complaint. The following is a summary of the cumulative pre-tax reserves (excluding interest) established by the Company in 2013 and 2014: | |||||||||||||||||||||||||||||||||||||
NU | |||||||||||||||||||||||||||||||||||||
For the Years Ended December 31, | |||||||||||||||||||||||||||||||||||||
(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) | - | 8.4 | 8.4 | ||||||||||||||||||||||||||||||||||
Cumulative Reserve | $ | 23.7 | $ | 37 | $ | 60.7 | |||||||||||||||||||||||||||||||
CL&P | NSTAR Electric | ||||||||||||||||||||||||||||||||||||
For the Years Ended December 31, | For the Years Ended December 31, | ||||||||||||||||||||||||||||||||||||
(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) | - | 6.7 | 6.7 | - | - | - | |||||||||||||||||||||||||||||||
Cumulative Reserve | $ | 12.8 | $ | 20.7 | $ | 33.5 | $ | 5.7 | $ | 7.9 | $ | 13.6 | |||||||||||||||||||||||||
PSNH | WMECO | ||||||||||||||||||||||||||||||||||||
For the Years Ended December 31, | For the Years Ended December 31, | ||||||||||||||||||||||||||||||||||||
(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) | - | - | - | - | 1.7 | 1.7 | |||||||||||||||||||||||||||||||
Cumulative Reserve | $ | 2.3 | $ | 2.8 | $ | 5.1 | $ | 2.9 | $ | 5.6 | $ | 8.5 | |||||||||||||||||||||||||
As of December 31, 2014, the cumulative reserves above do not reflect refunds totaling $4.8 million at NU, $2.7 million at CL&P, $1 million at NSTAR Electric, $0.5 million at PSNH and $0.6 million at WMECO for the first complaint refund period. | |||||||||||||||||||||||||||||||||||||
The aggregate after-tax net charge to 2014 earnings resulting from the 2014 FERC orders totaled $22.4 million at NU, $12.4 million at CL&P, $4.9 million at NSTAR Electric, $1.7 million at PSNH and $3.4 million at WMECO. In 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. | |||||||||||||||||||||||||||||||||||||
Although management is uncertain on the final outcome on the second and third complaints regarding the base ROE and the incentive ROE adder, management believes the current reserves established are appropriate to reflect probable and reasonably estimable refunds. | |||||||||||||||||||||||||||||||||||||
F. 2014 Comprehensive Settlement Agreement | |||||||||||||||||||||||||||||||||||||
On December 31, 2014, NSTAR Electric, NSTAR Gas and the Massachusetts Attorney General filed a comprehensive settlement agreement with the DPU. The comprehensive settlement agreement included resolution of the outstanding NSTAR Electric CPSL program filings for the periods 2006 through 2011, the NSTAR Electric and NSTAR Gas PAM and energy efficiency-related customer billing adjustments reported in 2012, and the NSTAR Electric energy efficiency program filings regarding LBR for the periods 2008 through 2011. If approved by the DPU, NSTAR Electric and NSTAR Gas will be required to refund a total of $44.7 million to their respective customers, which was included in regulatory liabilities as of December 31, 2014. Upon the DPU's approval, NSTAR Electric will adjust its regulatory liabilities, which it expects will result in a benefit of $23 million in the first quarter of 2015. Management expects a response from the DPU in the first quarter of 2015. | |||||||||||||||||||||||||||||||||||||
G. Basic Service Bad Debt Adder | |||||||||||||||||||||||||||||||||||||
In accordance with a generic 2005 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. NSTAR Electric's position was that it had fully removed the collection of energy-related bad debt costs from its distribution rates effective January 1, 2006. Therefore, no further adjustment to distribution rates was warranted. In 2012, the SJC vacated the DPU order and remanded the matter to the DPU for further review. | |||||||||||||||||||||||||||||||||||||
As of December 31, 2014, NSTAR Electric has a total deferred regulatory asset of approximately $33 million of costs associated with energy-related bad debt. | |||||||||||||||||||||||||||||||||||||
On January 7, 2015, the DPU issued an order on remand stating that NSTAR Electric had, in fact, removed energy-related bad debt costs from distribution rates effective January 1, 2006. The DPU order approved NSTAR Electric's 2005 and 2006 reconciliation filings and ordered NSTAR Electric and the Massachusetts Attorney General to collaborate on the submission of a proposal for the reconciliation of energy-related bad debt costs for the open years of 2007 through 2014 by April 7, 2015. Management expects to present a proposal to the Attorney General in the first quarter of 2015 with a decision from the DPU later in 2015. | |||||||||||||||||||||||||||||||||||||
H. Litigation and Legal Proceedings | |||||||||||||||||||||||||||||||||||||
NU, including CL&P, NSTAR Electric, PSNH and WMECO, are involved in legal, tax and regulatory proceedings regarding matters arising in the ordinary course of business, which involve management's assessment to determine the probability of whether a loss will occur and, if probable, its best estimate of probable loss. The Company records and discloses losses when these losses are probable and reasonably estimable, and discloses matters when losses are probable but not estimable or when losses are reasonably possible. Legal costs related to the defense of loss contingencies are expensed as incurred. |
LEASES
LEASES | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ||||||||||||||||
Leases of Lessee Disclosure [Text Block] | LEASES | |||||||||||||||
NU, including CL&P, NSTAR Electric, PSNH and WMECO, has entered into lease agreements, some of which are capital leases, for the use of data processing and office equipment, vehicles, service centers, and office space. In addition, CL&P, NSTAR Electric, PSNH and WMECO incur costs associated with leases entered into by NUSCO and Rocky River Realty Company, which are included below in their respective operating lease rental expenses and future minimum rental payments. These intercompany lease amounts are eliminated on an NU consolidated basis. The provisions of the NU, CL&P, NSTAR Electric, PSNH, and WMECO lease agreements generally contain renewal options. Certain lease agreements contain payments impacted by the commercial paper rate plus a credit spread or the consumer price index. | ||||||||||||||||
Operating lease rental payments charged to expense are as follows: | ||||||||||||||||
NSTAR | ||||||||||||||||
(Millions of Dollars) | NU (1) | CL&P | Electric | PSNH | WMECO | |||||||||||
2014 | $ | 14.3 | $ | 6 | $ | 7.8 | $ | 1.5 | $ | 1.2 | ||||||
2013 | 16.3 | 8.1 | 6.7 | 1.7 | 2.9 | |||||||||||
2012 | 14.8 | 8.2 | 6.2 | 2.5 | 3 | |||||||||||
NSTAR amounts were included in NU beginning April 10, 2012. | ||||||||||||||||
Future minimum rental payments, excluding executory costs, such as property taxes, state use taxes, insurance, and maintenance, under long-term noncancelable leases, as of December 31, 2014 are as follows: | ||||||||||||||||
Operating Leases | NSTAR | |||||||||||||||
(Millions of Dollars) | NU | CL&P | Electric | PSNH | WMECO | |||||||||||
2015 | $ | 20.1 | $ | 4.3 | $ | 10 | $ | 1.1 | $ | 1.2 | ||||||
2016 | 17.6 | 3.8 | 8.8 | 1 | 1 | |||||||||||
2017 | 14.6 | 2.6 | 7.7 | 0.8 | 0.8 | |||||||||||
2018 | 10.5 | 1.5 | 5.8 | 0.6 | 0.6 | |||||||||||
2019 | 8.6 | 1.1 | 4.7 | 0.5 | 0.6 | |||||||||||
Thereafter | 22.5 | 4 | 10.4 | 1.5 | 2.5 | |||||||||||
Future minimum lease payments | $ | 93.9 | $ | 17.3 | $ | 47.4 | $ | 5.5 | $ | 6.7 | ||||||
Capital Leases | ||||||||||||||||
(Millions of Dollars) | NU | CL&P | PSNH | |||||||||||||
2015 | $ | 2.4 | $ | 2 | $ | 0.4 | ||||||||||
2016 | 2.2 | 1.9 | 0.3 | |||||||||||||
2017 | 2.1 | 2 | 0.1 | |||||||||||||
2018 | 2.1 | 2 | 0.1 | |||||||||||||
2019 | 2 | 2 | 0 | |||||||||||||
Thereafter | 3.5 | 3.5 | 0 | |||||||||||||
Future minimum lease payments | 14.3 | 13.4 | 0.9 | |||||||||||||
Less amount representing interest | 4.9 | 5 | 0 | |||||||||||||
Present value of future minimum lease payments | $ | 9.4 | $ | 8.4 | $ | 0.9 | ||||||||||
CL&P entered into certain contracts for the purchase of energy that qualify as leases. These contracts do not have minimum lease payments and therefore are not included in the tables above. However, such contracts have been included in the contractual obligations table in Note 11B, "Commitments and Contingencies - Long-Term Contractual Arrangements," to the financial statements. |
FAIR_VALUE_OF_FINANCIAL_INSTRU
FAIR VALUE OF FINANCIAL INSTRUMENTS | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||||||||||||||||
Fair Value Disclosures [Text Block] | 13. 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 December 31, | |||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
NU | Carrying | Fair | Carrying | Fair | |||||||||||||||||||||
(Millions of Dollars) | Amount | Value | Amount | Value | |||||||||||||||||||||
Preferred Stock Not Subject to Mandatory Redemption | $ | 155.6 | $ | 153.6 | $ | 155.6 | $ | 152.7 | |||||||||||||||||
Long-Term Debt | 8,851.60 | 9,451.20 | 8,310.20 | 8,443.10 | |||||||||||||||||||||
As of December 31, 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 | $ | 112 | $ | 43 | $ | 41.6 | $ | - | $ | - | $ | - | $ | - | |||||||||
Long-Term Debt | 2,842.00 | 3,214.50 | 1,797.40 | 1,993.50 | 1,076.30 | 1,137.90 | 628.5 | 689.4 | |||||||||||||||||
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 1H, "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 | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||||||||||||||||
Comprehensive Income Note [Text Block] | 14. ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) | ||||||||||||||||||||||||
The changes in accumulated other comprehensive income/(loss) by component, net of tax effect, is as follows: | |||||||||||||||||||||||||
For the Year Ended December 31, 2014 | For the Year Ended December 31, 2013 | ||||||||||||||||||||||||
Qualified | Unrealized | Qualified | Unrealized | ||||||||||||||||||||||
Cash Flow | Gains/(Losses) | Defined | Cash Flow | Gains/(Losses) | Defined | ||||||||||||||||||||
Hedging | on Marketable | Benefit | Hedging | on Marketable | Benefit | ||||||||||||||||||||
(Millions of Dollars) | Instruments | Securities | Plans | Total | Instruments | Securities | Plans | Total | |||||||||||||||||
AOCI as of January 1st | $ | -14.4 | $ | 0.4 | $ | -32 | $ | -46 | $ | -16.4 | $ | 1.3 | $ | -57.8 | $ | -72.9 | |||||||||
OCI Before Reclassifications | - | 0.3 | -34.2 | -33.9 | - | -0.9 | 19.4 | 18.5 | |||||||||||||||||
Amounts Reclassified from AOCI | 2 | - | 3.9 | 5.9 | 2 | - | 6.4 | 8.4 | |||||||||||||||||
Net OCI | 2 | 0.3 | -30.3 | -28 | 2 | -0.9 | 25.8 | 26.9 | |||||||||||||||||
AOCI as of December 31st | $ | -12.4 | $ | 0.7 | $ | -62.3 | $ | -74 | $ | -14.4 | $ | 0.4 | $ | -32 | $ | -46 | |||||||||
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 tax effects of Defined Benefit Plan OCI amounts before reclassifications, which relate to actuarial gains and losses that arose during 2014, 2013 and 2012 were recognized in AOCI as net deferred tax assets of $22.3 million and $6.2 million in 2014 and 2012, respectively, and net deferred tax liabilities of $11.4 million in 2013. | |||||||||||||||||||||||||
The following table sets forth the amounts reclassified from AOCI by component and the impacted line item on the statements of income: | |||||||||||||||||||||||||
For the Years Ended December 31, | |||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||
Amounts Reclassified | Amounts Reclassified | Amounts Reclassified | Statements of Income | ||||||||||||||||||||||
(Millions of Dollars) | from AOCI | from AOCI | from AOCI | Line Item Impacted | |||||||||||||||||||||
Qualified Cash Flow Hedging Instruments | $ | -3.4 | $ | -3.4 | $ | -3.3 | Interest Expense | ||||||||||||||||||
Tax Effect | 1.4 | 1.4 | 1.3 | Income Tax Expense | |||||||||||||||||||||
Qualified Cash Flow Hedging Instruments, Net of Tax | $ | -2 | $ | -2 | $ | -2 | |||||||||||||||||||
Defined Benefit Plan Costs: | |||||||||||||||||||||||||
Amortization of Actuarial Losses | $ | -6.2 | $ | -10.5 | $ | -8.9 | Operations and Maintenance (1) | ||||||||||||||||||
Amortization of Prior Service Cost | -0.2 | -0.2 | -0.2 | Operations and Maintenance (1) | |||||||||||||||||||||
Amortization of Transition Obligation | 0 | 0 | -0.2 | Operations and Maintenance (1) | |||||||||||||||||||||
Total Defined Benefit Plan Costs | -6.4 | -10.7 | -9.3 | ||||||||||||||||||||||
Tax Effect | 2.5 | 4.3 | 3.5 | Income Tax Expense | |||||||||||||||||||||
Defined Benefit Plan Costs, Net of Tax | $ | -3.9 | $ | -6.4 | $ | -5.8 | |||||||||||||||||||
Total Amounts Reclassified from AOCI, Net of Tax | $ | -5.9 | $ | -8.4 | $ | -7.8 | |||||||||||||||||||
(1) These amounts are included in the computation of net periodic Pension, SERP and PBOP costs. See Note 9A, "Employee Benefits - Pension Benefits and Postretirement Benefits Other Than Pensions," for further information. | |||||||||||||||||||||||||
As of December 31, 2014, it is estimated that a pre-tax amount of $3.5 million ($0.7 million for CL&P, $2 million for PSNH and $0.6 million for WMECO) will be reclassified from AOCI as a decrease to Net Income over the next 12 months as a result of the amortization of the interest rate swap agreements, which have been settled. In addition, it is estimated that a pre-tax amount of $6.9 million will be reclassified from AOCI as a decrease to Net Income over the next 12 months as a result of the amortization of Pension, SERP and PBOP costs. |
DIVIDEND_RESTRICTIONS
DIVIDEND RESTRICTIONS | 12 Months Ended |
Dec. 31, 2014 | |
Notes To Consolidated Financial Statements [Abstract] | |
Schedule of Dividend Payment Restrictions [Table Text Block] | 15. DIVIDEND RESTRICTIONS |
NU parent's ability to pay dividends may be affected by certain state statutes, the ability of its subsidiaries to pay common dividends and the leverage restriction tied to its consolidated total debt to total capitalization ratio requirement in its revolving credit agreement. | |
CL&P, NSTAR Electric, PSNH and WMECO are subject to Section 305 of the Federal Power Act that makes it unlawful for a public utility to make or pay a dividend from any funds "properly included in its capital account." Management believes that this Federal Power Act restriction, as applied to CL&P, NSTAR Electric, PSNH and WMECO, would not be construed or applied by the FERC to prohibit the payment of dividends for lawful and legitimate business purposes from retained earnings. In addition, certain state statutes may impose additional limitations on such companies and on Yankee Gas and NSTAR Gas. Such state law restrictions do not restrict payment of dividends from retained earnings or net income. Pursuant to the joint revolving credit agreement of NU, CL&P, PSNH, WMECO, Yankee Gas and NSTAR Gas, and the NSTAR Electric revolving credit agreement, each company is required to maintain consolidated total debt to total capitalization ratio of no greater than 65 percent at all times. As of December 31, 2014, all companies were in compliance with such covenant. The Retained Earnings balances subject to these restrictions were $2.4 billion for NU, $1.1 billion for CL&P, $1.5 billion for NSTAR Electric, $486.5 million for PSNH and $178.8 million for WMECO as of December 31, 2014. As of December 31, 2014, NU, CL&P, NSTAR Electric, PSNH, WMECO, Yankee Gas and NSTAR Gas were in compliance with all such provisions of the revolving credit agreements that may restrict the payment of dividends. PSNH is further required to reserve an additional amount under its FERC hydroelectric license conditions. As of December 31, 2014, $13 million of PSNH's Retained Earnings was subject to restriction under its FERC hydroelectric license conditions and PSNH was in compliance with this provision. |
COMMON_SHARES
COMMON SHARES | 12 Months Ended | ||||||||||
Dec. 31, 2014 | |||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||
Schedule of Stock by Class [Text Block] | 16. 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 | Issued | ||||||||||
Per Share | as of December 31, | as of December 31, | |||||||||
Par Value | 2014 and 2013 | 2014 | 2013 | ||||||||
NU | $ | 5 | 380,000,000 | 333,359,172 | 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 December 31, 2014 and 2013, there were 16,375,835 and 17,796,672 NU common shares held as treasury shares, respectively. As of December 31, 2014 and 2013, NU common shares outstanding were 316,983,337 and 315,273,559, respectively. |
PREFFERED_STOCK_NOT_SUBJECT_TO
PREFFERED STOCK NOT SUBJECT TO MANDATORY REDEMPTION | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||||||
Preferred Stock Text Block | 17. PREFERRED STOCK NOT SUBJECT TO MANDATORY REDEMPTION | ||||||||||||||
The CL&P and NSTAR Electric preferred stock is not subject to mandatory redemption and is presented as a noncontrolling interest of a subsidiary in NU's financial statements. | |||||||||||||||
CL&P Preferred Stock: CL&P's charter authorizes it to issue up to 9 million shares of preferred stock ($50 par value per share). The issuance of additional preferred shares would be subject to PURA approval. Preferred stockholders have liquidation rights equal to the par value of the preferred stock, which they would receive in preference to any distributions to any junior stock. Were there to be a shortfall, all preferred stockholders would share ratably in available liquidation assets. | |||||||||||||||
NSTAR Electric Preferred Stock: NSTAR Electric is authorized to issue 2,890,000 shares ($100 par value per share). NSTAR Electric has two outstanding series of cumulative preferred stock. Upon liquidation, holders of cumulative preferred stock are entitled to receive a liquidation preference before any distribution to holders of common stock. The liquidation preference for each outstanding series of cumulative preferred stock is equal to the par value, plus accrued and unpaid dividends. Were there to be a shortfall, holders of cumulative preferred stock would share ratably in available liquidation assets. | |||||||||||||||
Details of preferred stock not subject to mandatory redemption are as follows (in millions except in redemption price and shares): | |||||||||||||||
Redemption Price | Shares Outstanding as of | As of December 31, | |||||||||||||
Series | Per Share | December 31, 2014 and 2013 | 2014 | 2013 | |||||||||||
CL&P | |||||||||||||||
$ | 1.9 | Series of 1947 | $ | 52.5 | 163,912 | $ | 8.2 | $ | 8.2 | ||||||
$ | 2 | Series of 1947 | $ | 54 | 336,088 | 16.8 | 16.8 | ||||||||
$ | 2.04 | Series of 1949 | $ | 52 | 100,000 | 5 | 5 | ||||||||
$ | 2.2 | Series of 1949 | $ | 52.5 | 200,000 | 10 | 10 | ||||||||
3.9 | % | Series of 1949 | $ | 50.5 | 160,000 | 8 | 8 | ||||||||
$ | 2.06 | Series E of 1954 | $ | 51 | 200,000 | 10 | 10 | ||||||||
$ | 2.09 | Series F of 1955 | $ | 51 | 100,000 | 5 | 5 | ||||||||
4.5 | % | Series of 1956 | $ | 50.75 | 104,000 | 5.2 | 5.2 | ||||||||
4.96 | % | Series of 1958 | $ | 50.5 | 100,000 | 5 | 5 | ||||||||
4.5 | % | Series of 1963 | $ | 50.5 | 160,000 | 8 | 8 | ||||||||
5.28 | % | Series of 1967 | $ | 51.43 | 200,000 | 10 | 10 | ||||||||
$ | 3.24 | Series G of 1968 | $ | 51.84 | 300,000 | 15 | 15 | ||||||||
6.56 | % | Series of 1968 | $ | 51.44 | 200,000 | 10 | 10 | ||||||||
Total CL&P | 2,324,000 | $ | 116.2 | $ | 116.2 | ||||||||||
NSTAR Electric | |||||||||||||||
4.25 | % | Series | $ | 103.625 | 180,000 | $ | 18 | $ | 18 | ||||||
4.78 | % | Series | $ | 102.8 | 250,000 | 25 | 25 | ||||||||
Total NSTAR Electric | 430,000 | $ | 43 | $ | 43 | ||||||||||
Fair Value Adjustment due to Merger with NSTAR | -3.6 | -3.6 | |||||||||||||
Total NU - Preferred Stock of Subsidiaries | $ | 155.6 | $ | 155.6 |
COMMON_SHARESHOLDERS_EQUITY_AN
COMMON SHARESHOLDERS' EQUITY AND NONCONTROLLING INTERESTS (NU) | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||||||
Stockholders' Equity Note Disclosure [Text Block] | 18 | COMMON SHAREHOLDERS' EQUITY AND NONCONTROLLING INTERESTS | |||||||||||||
A summary of the changes in Common Shareholders' Equity and Noncontrolling Interests of NU is as follows: | |||||||||||||||
Noncontrolling | |||||||||||||||
Common | Interest - | ||||||||||||||
Shareholders' | Noncontrolling | Total | Preferred Stock | ||||||||||||
(Millions of Dollars) | Equity | Interest | Equity | of Subsidiaries | |||||||||||
Balance as of January 1, 2012 | $ | 4,012.70 | $ | 3 | $ | 4,015.70 | $ | 116.2 | |||||||
Net Income | 533.1 | - | 533.1 | - | |||||||||||
Purchase Price of NSTAR (1) | 5,038.30 | - | 5,038.30 | - | |||||||||||
Other Equity Impacts of Merger with NSTAR (2) | 3.4 | -3.4 | - | 39.4 | |||||||||||
Dividends on Common Shares | -375.5 | - | -375.5 | - | |||||||||||
Dividends on Preferred Stock | -7 | - | -7 | -7 | |||||||||||
Issuance of Common Shares | 13.3 | - | 13.3 | - | |||||||||||
Contributions to NPT | - | 0.3 | 0.3 | - | |||||||||||
Other Transactions, Net | 21.1 | - | 21.1 | - | |||||||||||
Net Income Attributable to Noncontrolling Interests | -0.1 | 0.1 | - | 7 | |||||||||||
Other Comprehensive Loss | -2.2 | - | -2.2 | - | |||||||||||
Balance as of December 31, 2012 | $ | 9,237.10 | $ | - | $ | 9,237.10 | $ | 155.6 | |||||||
Net Income | 793.7 | - | 793.7 | - | |||||||||||
Dividends on Common Shares | -462.7 | - | -462.7 | - | |||||||||||
Dividends on Preferred Stock | -7.7 | - | -7.7 | -7.7 | |||||||||||
Issuance of Common Shares | 11.1 | - | 11.1 | - | |||||||||||
Other Transactions, Net | 13.2 | - | 13.2 | - | |||||||||||
Net Income Attributable to Noncontrolling Interests | - | - | - | 7.7 | |||||||||||
Other Comprehensive Income | 26.8 | - | 26.8 | - | |||||||||||
Balance as of December 31, 2013 | $ | 9,611.50 | $ | - | $ | 9,611.50 | $ | 155.6 | |||||||
Net Income | 827.1 | - | 827.1 | - | |||||||||||
Dividends on Common Shares | -496.5 | - | -496.5 | - | |||||||||||
Dividends on Preferred Stock | -7.5 | - | -7.5 | -7.5 | |||||||||||
Issuance of Common Shares | 6.6 | - | 6.6 | - | |||||||||||
Other Transactions, Net | 63.6 | - | 63.6 | - | |||||||||||
Net Income Attributable to Noncontrolling Interests | - | - | - | 7.5 | |||||||||||
Other Comprehensive Loss | -28 | - | -28 | - | |||||||||||
Balance as of December 31, 2014 | $ | 9,976.80 | $ | - | $ | 9,976.80 | $ | 155.6 | |||||||
(1) On April 10, 2012, NU issued approximately 136 million common shares to the NSTAR shareholders in connection with the merger. See Note 21, "Merger of NU and NSTAR," for further information. | |||||||||||||||
(2) The preferred stock of NSTAR Electric is not subject to mandatory redemption and has been presented as a noncontrolling interest in NSTAR Electric in NU's financial statements. In addition, upon completion of the merger, an NSTAR subsidiary that held 25 percent of NPT was merged into EETV, resulting in EETV owning 100 percent of NPT. Accordingly, the noncontrolling interest balance was eliminated and 100 percent ownership of NPT was reflected in Common Shareholders' Equity. | |||||||||||||||
For the years ended December 31, 2014, 2013 and 2012, there was no change in ownership of the common equity of CL&P and NSTAR Electric. |
EARNINGS_PER_SHARE
EARNINGS PER SHARE | 12 Months Ended | |||||||||
Dec. 31, 2014 | ||||||||||
Notes To Consolidated Financial Statements [Abstract] | ||||||||||
Earnings Per Share [Text Block] | 19. 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. For the years ended December 31, 2014, 2013 and 2012, there were 3,643, 1,575 and 4,266, respectively, antidilutive share awards excluded from the computation. | ||||||||||
The following table sets forth the components of basic and diluted EPS: | ||||||||||
For the Years Ended December 31, | ||||||||||
(Millions of Dollars, except share information) | 2014 | 2013 | 2012 | |||||||
Net Income Attributable to Controlling Interest | $ | 819.5 | $ | 786 | $ | 525.9 | ||||
Weighted Average Common Shares Outstanding: | ||||||||||
Basic | 316,136,748 | 315,311,387 | 277,209,819 | |||||||
Dilutive Effect | 1,280,666 | 899,773 | 783,812 | |||||||
Diluted | 317,417,414 | 316,211,160 | 277,993,631 | |||||||
Basic EPS | $ | 2.59 | $ | 2.49 | $ | 1.9 | ||||
Diluted EPS | $ | 2.58 | $ | 2.49 | $ | 1.89 | ||||
On April 10, 2012, NU issued approximately 136 million common shares as a result of the merger with NSTAR, which are reflected in the weighted average common shares outstanding. | ||||||||||
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 | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||||||||||
Segment Reporting Disclosure [Text Block] | 20. 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 years ended December 31, 2014, 2013 and 2012. Revenues from the sale of electricity and natural gas primarily are derived from residential, commercial and industrial customers and are not dependent on any single customer. The Electric Distribution 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 non-regulated 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. | |||||||||||||||||||
NSTAR amounts were included in NU beginning April 10, 2012. | |||||||||||||||||||
NU's segment information is as follows: | |||||||||||||||||||
For the Year Ended December 31, 2014 | |||||||||||||||||||
Electric | Natural Gas | ||||||||||||||||||
(Millions of Dollars) | Distribution | Distribution | Transmission | Other | Eliminations | Total | |||||||||||||
Operating Revenues | $ | 5,663.40 | $ | 1,007.30 | $ | 1,018.20 | $ | 790.9 | $ | -737.9 | $ | 7,741.90 | |||||||
Depreciation and Amortization | -384.6 | -68.1 | -150.5 | -42.1 | 19.9 | -625.4 | |||||||||||||
Other Operating Expenses | -4,366.20 | -786.7 | -302.1 | -748 | 719.3 | -5,483.70 | |||||||||||||
Operating Income | 912.6 | 152.5 | 565.6 | 0.8 | 1.3 | 1,632.80 | |||||||||||||
Interest Expense | -191.6 | -34 | -104.1 | -36.6 | 4.2 | -362.1 | |||||||||||||
Interest Income | 5.1 | - | 0.9 | 3.6 | -3.6 | 6 | |||||||||||||
Other Income, Net | 10.7 | 0.2 | 10.3 | 916 | -918.6 | 18.6 | |||||||||||||
Income Tax (Expense)/Benefit | -269.7 | -46.4 | -174.5 | 22.3 | - | -468.3 | |||||||||||||
Net Income | 467.1 | 72.3 | 298.2 | 906.1 | -916.7 | 827 | |||||||||||||
Net Income Attributable to Noncontrolling Interests | -4.7 | - | -2.8 | - | - | -7.5 | |||||||||||||
Net Income Attributable to Controlling Interest | $ | 462.4 | $ | 72.3 | $ | 295.4 | $ | 906.1 | $ | -916.7 | $ | 819.5 | |||||||
Total Assets (as of) | $ | 17,563.40 | $ | 3,030.90 | $ | 7,625.60 | $ | 12,682.50 | $ | -11,124.40 | $ | 29,778.00 | |||||||
Cash Flows Used for Investments in Plant | $ | 645.2 | $ | 176.7 | $ | 731.6 | $ | 50.2 | $ | - | $ | 1,603.70 | |||||||
For the Year Ended December 31, 2013 | |||||||||||||||||||
Electric | Natural Gas | ||||||||||||||||||
(Millions of Dollars) | Distribution | Distribution | Transmission | Other | Eliminations | Total | |||||||||||||
Operating Revenues | $ | 5,362.30 | $ | 855.8 | $ | 978.7 | $ | 777.5 | $ | -673.1 | $ | 7,301.20 | |||||||
Depreciation and Amortization | -604.8 | -66.7 | -136.2 | -62.2 | 10.2 | -859.7 | |||||||||||||
Other Operating Expenses | -3,927.70 | -659.4 | -281.8 | -715 | 671.8 | -4,912.10 | |||||||||||||
Operating Income | 829.8 | 129.7 | 560.7 | 0.3 | 8.9 | 1,529.40 | |||||||||||||
Interest Expense | -175 | -33.1 | -100.3 | -35.5 | 5.2 | -338.7 | |||||||||||||
Interest Income | 4.1 | - | 0.7 | 5.4 | -5.6 | 4.6 | |||||||||||||
Other Income, Net | 12.9 | 0.8 | 10.9 | 858.9 | -858.2 | 25.3 | |||||||||||||
Income Tax (Expense)/Benefit | -240 | -36.5 | -182.1 | 31.9 | -0.2 | -426.9 | |||||||||||||
Net Income | 431.8 | 60.9 | 289.9 | 861 | -849.9 | 793.7 | |||||||||||||
Net Income Attributable to Noncontrolling Interests | -4.8 | - | -2.9 | - | - | -7.7 | |||||||||||||
Net Income Attributable to Controlling Interest | $ | 427 | $ | 60.9 | $ | 287 | $ | 861 | $ | -849.9 | $ | 786 | |||||||
Total Assets (as of) | $ | 17,260.00 | $ | 2,759.70 | $ | 6,745.80 | $ | 11,842.40 | $ | -10,812.40 | $ | 27,795.50 | |||||||
Cash Flows Used for Investments in Plant | $ | 639 | $ | 168.1 | $ | 618.5 | $ | 31.2 | $ | - | $ | 1,456.80 | |||||||
For the Year Ended December 31, 2012 | |||||||||||||||||||
Electric | Natural Gas | ||||||||||||||||||
(Millions of Dollars) | Distribution | Distribution | Transmission | Other | Eliminations | Total | |||||||||||||
Operating Revenues | $ | 4,716.50 | $ | 572.9 | $ | 861.5 | $ | 803.8 | $ | -680.9 | $ | 6,273.80 | |||||||
Depreciation and Amortization | -530.3 | -49.1 | -109.2 | -56.4 | 4.2 | -740.8 | |||||||||||||
Other Operating Expenses | -3,585.40 | -445.2 | -251.6 | -817 | 684.4 | -4,414.80 | |||||||||||||
Operating Income/(Loss) | 600.8 | 78.6 | 500.7 | -69.6 | 7.7 | 1,118.20 | |||||||||||||
Interest Expense | -165.6 | -31.3 | -96.7 | -43.6 | 7.3 | -329.9 | |||||||||||||
Interest Income | 2.8 | - | 0.4 | 7.1 | -7.1 | 3.2 | |||||||||||||
Other Income, Net | 8.9 | 0.4 | 7.3 | 795 | -795.1 | 16.5 | |||||||||||||
Income Tax (Expense)/Benefit | -150.2 | -16.9 | -159.2 | 55.5 | -4.1 | -274.9 | |||||||||||||
Net Income | 296.7 | 30.8 | 252.5 | 744.4 | -791.3 | 533.1 | |||||||||||||
Net Income Attributable to Noncontrolling Interests | -4.4 | - | -2.8 | - | - | -7.2 | |||||||||||||
Net Income Attributable to Controlling Interest | $ | 292.3 | $ | 30.8 | $ | 249.7 | $ | 744.4 | $ | -791.3 | $ | 525.9 | |||||||
Cash Flows Used for Investments in Plant | $ | 611.7 | $ | 148.7 | $ | 663.6 | $ | 48.3 | $ | - | $ | 1,472.30 |
MERGER_OF_NU_AND_NSTAR
MERGER OF NU AND NSTAR | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ||||||||||||
Business Combination Disclosure | 21. MERGER OF NU AND NSTAR | |||||||||||
On April 10, 2012, NU acquired 100 percent of the outstanding common shares of NSTAR. Pursuant to the terms and conditions of the Agreement and Plan of Merger, as amended, (the "Merger Agreement,") NSTAR and its subsidiaries became wholly-owned subsidiaries of NU. | ||||||||||||
NSTAR was a holding company engaged through its subsidiaries in the energy delivery business serving electric and natural gas distribution customers in Massachusetts. As part of the merger, NSTAR shareholders received 1.312 NU common shares for each NSTAR common share owned (the "exchange ratio") as of the acquisition date. NU issued approximately 136 million common shares to the NSTAR shareholders as a result of the merger. | ||||||||||||
Purchase Price: Pursuant to the merger, all of the NSTAR common shares were exchanged at the fixed exchange ratio of 1.312 NU common shares for each NSTAR common share. The total consideration transferred in the merger was based on the closing price of NU common shares on April 9, 2012, the day prior to the date the merger was completed, and was calculated as follows: | ||||||||||||
NSTAR common shares outstanding as of April 9, 2012 (in thousands)* | 103,696 | |||||||||||
Exchange ratio | 1.312 | |||||||||||
NU common shares issued for NSTAR common shares outstanding (in thousands) | 136,049 | |||||||||||
Closing price of NU common shares on April 9, 2012 | $ | 36.79 | ||||||||||
Value of common shares issued (in millions) | $ | 5,005 | ||||||||||
Fair value of NU replacement stock-based compensation awards related to pre-merger service (in millions) | 33 | |||||||||||
Total purchase price (in millions) | $ | 5,038 | ||||||||||
* Included 109 thousand shares related to NSTAR stock-based compensation awards that vested immediately prior to the merger. | ||||||||||||
Certain of NSTAR's stock-based compensation awards, including deferred shares, performance shares and all outstanding stock options, were replaced with NU awards using the exchange ratio upon consummation of the merger. In accordance with accounting guidance for business combinations, the portion of the fair value of these awards attributable to service provided prior to the merger was included in the purchase price as it represented consideration transferred in the merger. See Note 9C, "Employee Benefits – Share-Based Payments," for further information. | ||||||||||||
Purchase Price Allocation: The allocation of the total purchase price to the estimated fair values of the assets acquired and liabilities assumed was determined based on the accounting guidance for fair value measurements. The allocation of the total purchase price included adjustments to record the fair value of NSTAR's unregulated telecommunications business, regulatory assets not earning a return, lease agreements, long-term debt and the preferred stock of NSTAR Electric. The fair values of NSTAR's assets and liabilities were determined based on significant estimates and assumptions, including Level 3 inputs, that were judgmental in nature. These estimates and assumptions included the timing and amounts of projected future cash flows and discount rates reflecting risk inherent in future cash flows. | ||||||||||||
In accordance with accounting guidance for business combinations, the excess of the purchase price over the estimated fair values of the assets acquired and liabilities assumed was recognized as goodwill. | ||||||||||||
The goodwill from the merger with NSTAR totaled $3.2 billion and was allocated to NU's reporting units based on their estimated fair values. See Note 22, "Goodwill," for the allocation of goodwill to each reporting unit. | ||||||||||||
Pro Forma Financial Information: The following unaudited pro forma financial information reflects the pro forma combined results of operations of NU and NSTAR and reflects the amortization of purchase price adjustments assuming the merger had taken place on January 1, 2011. The unaudited pro forma financial information has been presented for illustrative purposes only and is not necessarily indicative of the consolidated results of operations that would have been achieved or the future consolidated results of operations of NU. | ||||||||||||
(Pro forma amounts in millions, except per share amounts) | For the Year Ended December 31, 2012 | |||||||||||
Operating Revenues | $ | 7,004 | ||||||||||
Net Income Attributable to Controlling Interest | 630 | |||||||||||
Basic EPS | 2 | |||||||||||
Diluted EPS | 1.99 | |||||||||||
Pro forma net income does not include potential cost savings associated with the merger. Pro forma net income also excludes certain non-recurring merger costs and costs related to the Connecticut and Massachusetts merger settlement agreements described below, with the following aggregate after-tax impacts: | ||||||||||||
(Millions of Dollars) | For the Year Ended December 31, 2012 | |||||||||||
Transaction and Other Costs | $ | 32 | ||||||||||
Settlement Agreement Impacts | 60 | |||||||||||
Total After-Tax Non-Recurring Costs Excluded from Pro Forma Net Income Attributable to Controlling Interest | $ | 92 | ||||||||||
Regulatory Approvals: On February 15, 2012, NU and NSTAR reached comprehensive merger settlement agreements with the Massachusetts Attorney General and the DOER. The Attorney General settlement agreement covered a variety of rate-making and rate design issues, including a base distribution rate freeze through 2015 for NSTAR Electric, NSTAR Gas and WMECO and $15 million, $3 million and $3 million in the form of rate credits to their respective customers. On April 4, 2012, the DPU approved the settlement agreements and the merger of NU and NSTAR. | ||||||||||||
On March 13, 2012, NU and NSTAR reached a comprehensive merger settlement agreement with both the Connecticut Attorney General and the Connecticut Office of Consumer Counsel. The settlement agreement covered a variety of matters, including a $25 million rate credit to CL&P customers, a CL&P base distribution rate freeze until December 1, 2014, and the establishment of a $15 million fund for energy efficiency and other initiatives to be disbursed at the direction of the DEEP. In the agreement, CL&P agreed to forego rate recovery of $40 million of the deferred storm restoration costs associated with restoration activities following Tropical Storm Irene and the October 2011 snowstorm. On April 2, 2012, the PURA approved the settlement agreement and the merger of NU and NSTAR. | ||||||||||||
The pre-tax financial impacts of the Connecticut and Massachusetts merger settlement agreements that were recognized in 2012 by NU, CL&P, NSTAR Electric, and WMECO are summarized as follows: | ||||||||||||
(Millions of Dollars) | NU | CL&P | NSTAR Electric | WMECO | ||||||||
Customer Rate Credits | $ | 46 | $ | 25 | $ | 15 | $ | 3 | ||||
Storm Costs Deferral Reduction | 40 | 40 | - | - | ||||||||
Establishment of Energy Efficiency Fund | 15 | - | - | - | ||||||||
Total Pre-Tax Settlement Agreement Impacts | $ | 101 | $ | 65 | $ | 15 | $ | 3 |
GOODWILL
GOODWILL | 12 Months Ended | |||||||||||||
Dec. 31, 2014 | ||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ||||||||||||||
Goodwill Disclosure [Text Block] | 22. GOODWILL | |||||||||||||
In accordance with the accounting standards, goodwill is not subject to amortization. However, goodwill is subject to fair value-based rules for measuring impairment, and resulting write-downs, if any, are charged to Operating Expenses. These accounting standards require that goodwill be reviewed at least annually for impairment and whenever facts or circumstances indicate that there may be an impairment. NU uses October 1st as the annual goodwill impairment testing date. | ||||||||||||||
On April 10, 2012, upon consummation of the merger with NSTAR, NU recorded approximately $3.2 billion of goodwill. With the completion of the merger, NU reviewed its management structure and determined that the reporting units for the purpose of testing goodwill for impairment are Electric Distribution, Electric Transmission and Natural Gas Distribution. NU's reporting units are consistent with the operating segments underlying the reportable segments identified in Note 20, "Segment Information," to the financial statements. Accordingly, the goodwill resulting from the merger was allocated to the Electric Distribution, Electric Transmission and Natural Gas Distribution reporting units based on the estimated fair values of the reporting units as of the merger date. | ||||||||||||||
Prior to the merger with NSTAR, the only reporting unit that maintained goodwill was the Natural Gas Distribution reportable segment related to the acquisition of the parent of Yankee Gas in 2000. This goodwill was recorded at Yankee Gas. The goodwill balance at Yankee Gas as of December 31, 2014 and 2013 was $0.3 billion. | ||||||||||||||
NU completed its annual goodwill impairment test for each of its reporting units as of October 1, 2014 and determined that no impairment exists. There were no events subsequent to October 1, 2014 that indicated impairment of goodwill. | ||||||||||||||
There were no changes to the goodwill balance or the allocation of goodwill as of December 31, 2014 or 2013. The allocation of goodwill to NU's reporting units as of both December 31, 2014 and 2013 was as follows: | ||||||||||||||
Electric | Electric | Natural Gas | ||||||||||||
(Billions of Dollars) | Distribution | Transmission | Distribution | Total | ||||||||||
Goodwill Allocation | $ | 2.5 | $ | 0.6 | $ | 0.4 | $ | 3.5 |
VARIABLE_INTEREST_ENTITIES
VARIABLE INTEREST ENTITIES | 12 Months Ended |
Dec. 31, 2014 | |
Notes To Consolidated Financial Statements [Abstract] | |
Schedule Of Variable Interest Entities Text Block | 23. VARIABLE INTEREST ENTITIES |
The Company's variable interests outside of the consolidated group are not material and consist of contracts that are required by regulation and provide for regulatory recovery of contract costs and benefits through customer rates. NU, CL&P and NSTAR Electric hold variable interests in variable interest entities (VIEs) through agreements with certain entities that own single renewable energy or peaking generation power plants and with other independent power producers. NU, CL&P and NSTAR Electric do not control the activities that are economically significant to these VIEs or provide financial or other support to these VIEs. Therefore, NU, CL&P and NSTAR Electric do not consolidate any power plant VIEs. |
QUARTERLY_FINANCIAL_DATA_Unaud
QUARTERLY FINANCIAL DATA (Unaudited) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Quarterly Financial Data [Abstract] | ||||||||||||
Quarterly Financial Information [Text Block] | QUARTERLY FINANCIAL DATA (UNAUDITED) | |||||||||||
24. | ||||||||||||
NU Consolidated Statements of Quarterly Financial Data | Quarter Ended | |||||||||||
(Millions of Dollars, except per share information) | March 31, | June 30, | September 30, | December 31, | ||||||||
2014 | ||||||||||||
Operating Revenues | $ | 2,290.60 | $ | 1,677.60 | $ | 1,892.50 | $ | 1,881.20 | ||||
Operating Income | 467.7 | 294 | 440.9 | 430.2 | ||||||||
Net Income | 237.8 | 129.2 | 236.5 | 223.6 | ||||||||
Net Income Attributable to Controlling Interest | 236 | 127.4 | 234.6 | 221.5 | ||||||||
Basic EPS (a) | $ | 0.75 | $ | 0.4 | $ | 0.74 | $ | 0.69 | ||||
Diluted EPS (a) | $ | 0.74 | $ | 0.4 | $ | 0.74 | $ | 0.69 | ||||
2013 | ||||||||||||
Operating Revenues | $ | 1,995.00 | $ | 1,635.90 | $ | 1,892.60 | $ | 1,777.70 | ||||
Operating Income | 418.9 | 350.6 | 399.3 | 360.6 | ||||||||
Net Income | 230 | 173.1 | 211.4 | 179.2 | ||||||||
Net Income Attributable to Controlling Interest | 228.1 | 171 | 209.5 | 177.4 | ||||||||
Basic and Diluted EPS (a) | $ | 0.72 | $ | 0.54 | $ | 0.66 | $ | 0.56 | ||||
(a) The summation of quarterly EPS data may not equal annual data due to rounding. | ||||||||||||
Statements of Quarterly Financial Data | Quarter Ended | |||||||||||
(Millions of Dollars) | March 31, | June 30, | September 30, | December 31, | ||||||||
CL&P | ||||||||||||
2014 | ||||||||||||
Operating Revenues | $ | 734.6 | $ | 587.3 | $ | 695.6 | $ | 675.1 | ||||
Operating Income | 158 | 92.1 | 146.2 | 159 | ||||||||
Net Income | 79.3 | 37.4 | 83.9 | 87.2 | ||||||||
2013 | ||||||||||||
Operating Revenues | $ | 624.1 | $ | 569.3 | $ | 648.4 | $ | 600.5 | ||||
Operating Income | 149.7 | 136.8 | 133.9 | 119.2 | ||||||||
Net Income | 85 | 67.9 | 66.3 | 60.2 | ||||||||
NSTAR Electric | ||||||||||||
2014 | ||||||||||||
Operating Revenues | $ | 666.2 | $ | 561.5 | $ | 727.9 | $ | 581.1 | ||||
Operating Income | 118.4 | 121.5 | 206.6 | 132 | ||||||||
Net Income | 58.1 | 60.1 | 115.6 | 69.3 | ||||||||
2013 | ||||||||||||
Operating Revenues | $ | 592.3 | $ | 570.4 | $ | 753.9 | $ | 576.9 | ||||
Operating Income | 94.5 | 112.5 | 192 | 109.2 | ||||||||
Net Income | 48.1 | 58 | 107 | 55.4 | ||||||||
PSNH | ||||||||||||
2014 | ||||||||||||
Operating Revenues | $ | 299.8 | $ | 211.6 | $ | 223.7 | $ | 224.4 | ||||
Operating Income | 64 | 49 | 56.4 | 60 | ||||||||
Net Income | 32.6 | 24.1 | 28.2 | 29 | ||||||||
2013 | ||||||||||||
Operating Revenues | $ | 273.8 | $ | 216.1 | $ | 218.6 | $ | 226.9 | ||||
Operating Income | 58.1 | 54.3 | 56.6 | 56.2 | ||||||||
Net Income | 29 | 27.2 | 28.4 | 26.8 | ||||||||
WMECO | ||||||||||||
2014 | ||||||||||||
Operating Revenues | $ | 137.4 | $ | 108.3 | $ | 118.1 | $ | 129.6 | ||||
Operating Income | 34.7 | 17.7 | 31.2 | 34 | ||||||||
Net Income | 18.1 | 7 | 14.7 | 18 | ||||||||
2013 | ||||||||||||
Operating Revenues | $ | 125 | $ | 115 | $ | 121.8 | $ | 110.9 | ||||
Operating Income | 35.6 | 32.4 | 28.9 | 22.4 | ||||||||
Net Income | 18.6 | 16.4 | 15 | 10.4 |
SIGNIFCANT_ACCOUNTING_POLICIES
SIGNIFCANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Dec. 31, 2014 | |
Notes To Consolidated Financial Statements [Abstract] | |
Organization Consolidation And Presentation Of Financial Statements Disclosure Text Block | The 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 consolidated financial statements of NU, NSTAR Electric and PSNH and the financial statements of CL&P and WMECO are herein collectively referred to as the "financial statements." |
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. | |
NU's consolidated financial information includes NSTAR and its subsidiaries' results of operations beginning April 10, 2012. The information disclosed for the year ended December 31, 2012 for NSTAR Electric is presented on a comparable basis. | |
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. | |
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' distribution, generation and transmission businesses and NPT are 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 year data were made in the accompanying balance sheets for NU, CL&P, NSTAR Electric and PSNH. These reclassifications were made to conform to the current year presentation. | |
In accordance with accounting guidance on noncontrolling interests in consolidated financial statements, the Preferred Stock of CL&P and the Preferred Stock of NSTAR Electric, which are not owned by NU or its consolidated subsidiaries and are not subject to mandatory redemption, have been presented as noncontrolling interests in the financial statements of NU. The Preferred Stock of CL&P and the Preferred Stock of NSTAR Electric are considered to be temporary equity and have been classified between liabilities and permanent shareholders' equity on the balance sheets of NU, CL&P and NSTAR Electric due to a provision in the preferred stock agreements of both CL&P and NSTAR Electric that grant preferred stockholders the right to elect a majority of the CL&P and NSTAR Electric Board of Directors, respectively, should certain conditions exist, such as if preferred dividends are in arrears for a specified amount of time. The Net Income reported in the statements of income and cash flows represents net income prior to apportionment to noncontrolling interests, which is represented by dividends on preferred stock of CL&P and NSTAR Electric. | |
As of December 31, 2014 and 2013, NU's carrying amount of goodwill was approximately $3.5 billion. NU performs an assessment for possible impairment of its goodwill at least annually. NU completed its annual goodwill impairment test for each of its reporting units as of October 1, 2014 and determined that no impairment exists. See Note 22, "Goodwill," for further information. | |
Derivatives Offsetting Fair Value Amounts Policy | 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. |
Fair Value Of Financial Instruments Policy | H. 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 valuations of the investments 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," Note 6, "Asset Retirement Obligations," Note 9A, "Employee Benefits – Pension Benefits and Postretirement Benefits Other Than Pensions," Note 13, "Fair Value of Financial Instruments," and Note 21, "Merger of NU and NSTAR," to the financial statements. | |
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. | |
NU, including CL&P, NSTAR Electric, PSNH and WMECO, recognizes a liability for the fair value of an ARO on the obligation date if the liability's fair value can be reasonably estimated and is conditional on a future event. Settlement dates and future costs are reasonably estimated when sufficient information becomes available. Management has identified various categories of AROs, primarily certain assets containing asbestos and hazardous contamination and has performed fair value calculations, reflecting expected probabilities for settlement scenarios. | |
The fair value of an ARO is recorded as a liability in Other Long-Term Liabilities with a corresponding amount included in Property, Plant and Equipment, Net on the balance sheets. The ARO assets are depreciated, and the ARO liabilities are accreted over the estimated life of the obligation with corresponding credits recorded as accumulated depreciation and ARO liabilities, respectively. As the Regulated companies are rate-regulated on a cost-of-service basis, these companies apply regulatory accounting guidance and both the depreciation and accretion costs associated with the Regulated companies' AROs are recorded as increases to Regulatory Assets on the balance sheets. | |
The Company values assets based on observable inputs when available. Equity securities, exchange traded funds and futures contracts classified as Level 1 in the fair value hierarchy are priced based on the closing price on the primary exchange as of the balance sheet date. Commingled funds included in Level 2 equity securities are recorded at the net asset value provided by the asset manager, which is based on the market prices of the underlying equity securities. Swaps are valued using pricing models that incorporate interest rates and equity and fixed income index closing prices to determine a net present value of the cash flows. Fixed income securities, such as government issued securities, corporate bonds and high yield bond funds, are included in Level 2 and are valued using pricing models, quoted prices of securities with similar characteristics or discounted cash flows. The pricing models utilize observable inputs such as recent trades for the same or similar instruments, yield curves, discount margins and bond structures. Hedge funds and investments in opportunistic fixed income funds are recorded at net asset value based on the values of the underlying assets. The assets in the hedge funds and opportunistic fixed income funds are valued using observable inputs and are classified as Level 3 within the fair value hierarchy due to redemption restrictions. Private Equity investments and Real Estate and Other Assets are valued using the net asset value provided by the partnerships, which are based on discounted cash flows of the underlying investments, real estate appraisals or public market comparables of the underlying investments. These investments are classified as Level 3 due to redemption restrictions. | |
The following methods and assumptions were used to estimate the fair value of each of the following financial instruments: | |
Certain of NSTAR's stock-based compensation awards, including deferred shares, performance shares and all outstanding stock options, were replaced with NU awards using the exchange ratio upon consummation of the merger. In accordance with accounting guidance for business combinations, the portion of the fair value of these awards attributable to service provided prior to the merger was included in the purchase price as it represented consideration transferred in the merger. See Note 9C, "Employee Benefits – Share-Based Payments," for further information. | |
Purchase Price Allocation: The allocation of the total purchase price to the estimated fair values of the assets acquired and liabilities assumed was determined based on the accounting guidance for fair value measurements. The allocation of the total purchase price included adjustments to record the fair value of NSTAR's unregulated telecommunications business, regulatory assets not earning a return, lease agreements, long-term debt and the preferred stock of NSTAR Electric. The fair values of NSTAR's assets and liabilities were determined based on significant estimates and assumptions, including Level 3 inputs, that were judgmental in nature. These estimates and assumptions included the timing and amounts of projected future cash flows and discount rates reflecting risk inherent in future cash flows. | |
Allowance For Funds Used During Construction Policy | M. Allowance for Funds Used During Construction |
AFUDC represents the cost of borrowed and equity funds used to finance construction and is included in the cost of the Regulated companies' utility plant. The portion of AFUDC attributable to borrowed funds is recorded as a reduction of Other Interest Expense, and the AFUDC related to equity funds is recorded as Other Income, Net on the statements of income. AFUDC costs are recovered from customers over the service life of the related plant in the form of increased revenue collected as a result of higher depreciation expense. | |
The Regulated companies' average AFUDC rate is based on a FERC-prescribed formula using the cost of a company's short-term financings and capitalization (preferred stock, long-term debt and common equity), as appropriate. The average rate is applied to average eligible CWIP amounts to calculate AFUDC. | |
Other Taxes Policy | Certain sales taxes are 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 | I. Derivative Accounting |
Many of the Regulated companies' contracts for the purchase and sale of energy or energy-related products are derivatives. The accounting treatment for energy contracts entered into varies and depends on the intended use of the particular contract and on whether or not the contract is a derivative. For the Regulated companies, regulatory assets or regulatory liabilities are recorded to offset the fair values of derivative contracts, as contract settlements are recovered from, or refunded to, customers in future rates. | |
The application of derivative accounting is complex and requires management judgment in the following respects: identification of derivatives and embedded derivatives, election and designation of the normal exception, and determination of the fair value of derivative contracts. All of these judgments can have a significant impact on the financial statements. | |
The judgment applied in the election of the normal exception (and resulting accrual accounting) includes the conclusion that it is probable at the inception of the contract and throughout its term that it will result in physical delivery of the underlying product and that the quantities will be used or sold by the business in the normal course of business. If facts and circumstances change and management can no longer support this conclusion, then the normal exception and accrual accounting is terminated, and fair value accounting is applied prospectively. | |
The fair value of derivative contracts is based upon the contract terms and conditions and the underlying market price or fair value per unit. When quantities are not specified in the contract, the Company determines whether the contract has a determinable quantity by using amounts referenced in default provisions and other relevant sections of the contract. The fair value of derivative assets and liabilities with the same counterparty are offset and recorded as a net derivative asset or liability on the balance sheets. Changes in the fair value of derivative contracts are recorded as regulatory assets or liabilities and do not impact net income. | |
For further information regarding derivative contracts, see Note 4, "Derivative Instruments," to the financial statements. | |
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 contract settlements 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. | |
Marketable Securities Policy | 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. |
The Company elected to record mutual funds 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 December 31, 2014 and 2013, the mutual funds and equity investments were classified as Level 1 in the fair value hierarchy and totaled $85.1 million and $57.2 million, respectively. For the years ended December 31, 2014, 2013 and 2012, net gains on these securities of $1.9 million, $10.2 million and $5.9 million, respectively, were recorded in Other Income, Net on the statements of income. Dividend income is recorded in Other Income, Net when dividends are declared. All other marketable securities are accounted for as available-for-sale. | |
U.S. government issued debt securities are valued using market approaches that incorporate transactions for the same or similar bonds and adjustments for yields and maturity dates. Corporate debt securities are valued using a market approach, utilizing recent trades of the same or similar instrument and also incorporating yield curves, credit spreads and specific bond terms and conditions. Asset-backed debt securities include collateralized mortgage obligations, commercial mortgage backed securities, and securities collateralized by auto loans, credit card loans or receivables. Asset-backed debt securities are valued using recent trades of similar instruments, prepayment assumptions, yield curves, issuance and maturity dates, and tranche information. Municipal bonds are valued using a market approach that incorporates reported trades and benchmark yields. Other fixed income securities are valued using pricing models, quoted prices of securities with similar characteristics, and discounted cash flows. | |
Environmental Costs Policy | Environmental Matters |
General: NU, CL&P, NSTAR Electric, PSNH and WMECO are subject to environmental laws and regulations intended to mitigate or remove the effect of past operations and improve or maintain the quality of the environment. These laws and regulations require the removal or the remedy of the effect on the environment of the disposal or release of certain specified hazardous substances at current and former operating sites. NU, CL&P, NSTAR Electric, PSNH and WMECO have an active environmental auditing and training program and believe that they are substantially in compliance with all enacted laws and regulations. | |
These liabilities are estimated on an undiscounted basis and do not assume that any amounts are recoverable from insurance companies or other third parties. The environmental reserves include sites at different stages of discovery and remediation and do not include any unasserted claims. | |
It is possible that new information or future developments could require a reassessment of the potential exposure to related environmental matters. As this information becomes available, management will continue to assess the potential exposure and adjust the reserves accordingly. | |
Earnings Per Share Policy Text Block | 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 years ended December 31, 2014, 2013 and 2012. Revenues from the sale of electricity and natural gas primarily are derived from residential, commercial and industrial customers and are not dependent on any single customer. The Electric Distribution 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 non-regulated 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. | |
Consolidation Variable Interest Entity Policy | VARIABLE INTEREST ENTITIES |
The Company's variable interests outside of the consolidated group are not material and consist of contracts that are required by regulation and provide for regulatory recovery of contract costs and benefits through customer rates. NU, CL&P and NSTAR Electric hold variable interests in variable interest entities (VIEs) through agreements with certain entities that own single renewable energy or peaking generation power plants and with other independent power producers. NU, CL&P and NSTAR Electric do not control the activities that are economically significant to these VIEs or provide financial or other support to these VIEs. Therefore, NU, CL&P and NSTAR Electric do not consolidate any power plant VIEs. | |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and cash equivalents include cash on hand and short-term cash investments that are highly liquid in nature and have original maturities of three months or less. At the end of each reporting period, any overdraft amounts are reclassified from Cash and Cash Equivalents to Accounts Payable on the balance sheets. |
Asset Retirement Obligations, Policy [Policy Text Block] | NU's amounts include CYAPC and YAEC's AROs of $317.3 million and $318.8 million as of December 31, 2014 and 2013, respectively. The fair value of the ARO for CYAPC and YAEC includes uncertainties of the fuel off-load dates related to the DOE's timing of performance regarding its obligation to dispose of the spent nuclear fuel and high level waste. The incremental asset recorded as an offset to the ARO liability was fully depreciated since the plants have no remaining useful life. Any changes in the assumptions used to calculate the fair value of the ARO liability are recorded with a corresponding offset to the related regulatory asset. The assets held in the CYAPC and YAEC nuclear decommissioning trusts are restricted for settling the ARO and all other decommissioning obligations. For further information on the assets held in the nuclear decommissioning trusts, see Note 5, "Marketable Securities," to the financial statements. |
Goodwill and Intangible Assets, Policy [Policy Text Block] | The goodwill from the merger with NSTAR totaled $3.2 billion and was allocated to NU's reporting units based on their estimated fair values. See Note 22, "Goodwill," for the allocation of goodwill to each reporting unit. |
In accordance with the accounting standards, goodwill is not subject to amortization. However, goodwill is subject to fair value-based rules for measuring impairment, and resulting write-downs, if any, are charged to Operating Expenses. These accounting standards require that goodwill be reviewed at least annually for impairment and whenever facts or circumstances indicate that there may be an impairment. NU uses October 1st as the annual goodwill impairment testing date. | |
On April 10, 2012, upon consummation of the merger with NSTAR, NU recorded approximately $3.2 billion of goodwill. With the completion of the merger, NU reviewed its management structure and determined that the reporting units for the purpose of testing goodwill for impairment are Electric Distribution, Electric Transmission and Natural Gas Distribution. NU's reporting units are consistent with the operating segments underlying the reportable segments identified in Note 20, "Segment Information," to the financial statements. Accordingly, the goodwill resulting from the merger was allocated to the Electric Distribution, Electric Transmission and Natural Gas Distribution reporting units based on the estimated fair values of the reporting units as of the merger date. | |
Prior to the merger with NSTAR, the only reporting unit that maintained goodwill was the Natural Gas Distribution reportable segment related to the acquisition of the parent of Yankee Gas in 2000. This goodwill was recorded at Yankee Gas. The goodwill balance at Yankee Gas as of December 31, 2014 and 2013 was $0.3 billion. | |
NU completed its annual goodwill impairment test for each of its reporting units as of October 1, 2014 and determined that no impairment exists. There were no events subsequent to October 1, 2014 that indicated impairment of goodwill. | |
Pension And Other Postretirement Plans Policy | A. Pension Benefits and Postretirement Benefits Other Than Pensions |
As of December 31, 2014, NUSCO sponsored two defined benefit retirement plans that covered eligible employees, including employees of CL&P, NSTAR Electric, PSNH and WMECO (NUSCO Pension Plan and NSTAR Pension Plan). Effective January 1, 2015, the two plans were merged into one plan, sponsored by NUSCO. The NUSCO and NSTAR Pension Plans are subject to the provisions of ERISA, as amended by the PPA of 2006. NU's policy is to annually fund the Pension Plans in an amount at least equal to an amount that will satisfy federal requirements. In addition, NU maintains non-qualified defined benefit retirement plans sponsored by NUSCO (herein collectively referred to as the SERP Plans), which provide benefits in excess of Internal Revenue Code limitations to eligible current and retired participants. | |
As of December 31, 2014, NUSCO also sponsored defined benefit postretirement plans that provide certain retiree benefits, primarily medical, dental and life insurance, to retiring employees that meet certain age and service eligibility requirements (NUSCO PBOP Plans and NSTAR PBOP Plan). Effective January 1, 2015, the plans were merged into one plan, sponsored by NUSCO. Under certain circumstances, eligible retirees are required to contribute to the costs of postretirement benefits. The benefits provided under the PBOP Plans are not vested and the Company has the right to modify any benefit provision subject to applicable laws at that time. | |
Because the Regulated companies recover the retiree benefit costs from customers through rates, regulatory assets are recorded in lieu of an adjustment to Accumulated Other Comprehensive Income/(Loss) to record the funded status of the Pension, SERP and PBOP Plans. Regulatory accounting was also applied to the portions of the NUSCO costs that support the Regulated companies, as these costs are also recovered from customers. Adjustments to the Pension and PBOP funded status for the unregulated companies are recorded on an after-tax basis to Accumulated Other Comprehensive Income/(Loss). For further information, see Note 2, "Regulatory Accounting," and Note 14, "Accumulated Other Comprehensive Income/(Loss)," to the financial statements. The SERP Plans do not have plan assets. | |
For the years ended December 31, 2014 and 2013, the expected return on plan assets for the NUSCO Pension and PBOP Plans was calculated by applying the assumed rate of return to a four-year rolling average of plan asset fair values. This calculation recognized investment gains or losses over a four-year period from the years in which they occurred. Investment gains or losses for this purpose are the difference between the calculated expected return and the actual return. As investment gains and losses are reflected in the average plan asset fair values, they are subject to amortization with other unrecognized actuarial gains or losses. For the NSTAR Pension and PBOP Plans, the entire difference between the actual return and calculated expected return on plan assets is reflected as a component of unrecognized actuarial gain or loss. Unrecognized actuarial gains or losses are amortized as a component of Pension and PBOP expense over the estimated average future employee service period. | |
Pension and SERP Plans: 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 was 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 (service company merger) and, concurrently, all employees were transferred to the company they predominantly provide services for: NUSCO, NSTAR Electric or NSTAR Gas. As a result of the employee transfers, the pension and SERP assets and liabilities were attributed by participant and transferred to the applicable company's balance sheets. This change had no impact on the income statement or net assets of NSTAR Electric or NU. | |
Pension and SERP Expense: NU charges net periodic pension expense to its subsidiaries based on the actual participant demographic data for each subsidiary's participants. Benefit payments to participants and contributions are also tracked for each subsidiary. The actual investment return in the trust is allocated to each of the subsidiaries annually in proportion to the investment return expected to be earned during the year. For the years ended December 31, 2013 and 2012 (prior to the service company merger), the net periodic pension expense recorded at NSTAR Electric represented the full cost of the plan with a portion of the costs allocated to affiliated companies based on participant demographic data. | |
PBOP Expense: NU charges net periodic postretirement benefits expense to its subsidiaries based on the actual participant demographic data for each subsidiary's participants. Benefit payments to participants and contributions are also tracked for each subsidiary. The actual investment return in the trust each year is allocated to each of the subsidiaries annually in proportion to the investment return expected to be earned during the year. For the years ended December 31, 2013 and 2012 (prior to the service company merger), | |
Property, Plant and Equipment, Depreciation Methods | Utility property, plant and equipment is recorded at original cost. Original cost includes materials, labor, construction overhead and AFUDC for regulated property. The cost of repairs and maintenance, including planned major maintenance activities, is charged to Operating Expenses as incurred. Depreciation of utility assets is calculated on a straight-line basis using composite rates based on the estimated remaining useful lives of the various classes of property (estimated useful life for PSNH distribution). The composite rates are subject to approval by the appropriate state regulatory agency. The composite rates include a cost of removal component, which is collected from customers over the lives of the plant assets and is recognized as a regulatory liability. Depreciation rates are applied to property from the time it is placed in service. Upon retirement from service, the cost of the utility asset is charged to the accumulated provision for depreciation. The actual incurred removal costs are applied against the related regulatory liability. |
Income Tax, Policy [Policy Text Block] | 10. INCOME TAXES |
Deferred tax assets and liabilities are recognized for the future tax effects of temporary differences between the carrying amounts and the tax basis of assets and liabilities. The tax effect of temporary differences is accounted for in accordance with the rate-making treatment of the applicable regulatory commissions and relevant accounting authoritative literature. | |
Interest and Penalties: Interest on uncertain tax positions is recorded and generally classified as a component of Other Interest Expense on the statements of income. However, when resolution of uncertainties results in the Company receiving interest income, any related interest benefit is recorded in Other Income, Net on the statements of income. No penalties have been recorded. | |
Member of Group Filing Consolidated Return, Policy [Policy Text Block] | NU, CL&P, NSTAR Electric, PSNH and WMECO file a consolidated federal income tax return and unitary, combined and separate state income tax returns. These entities are also parties to a tax allocation agreement under which taxable subsidiaries do not pay any more taxes than they would have otherwise paid had they filed a separate company tax return, and subsidiaries generating tax losses, if any, are paid for their losses when utilized. |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | C. Share-Based Payments |
Share-based compensation awards are recorded using a fair-value-based method at the date of grant. NU, CL&P, NSTAR Electric, PSNH and WMECO record compensation expense related to these awards, as applicable, for shares issued or sold to their respective employees and officers, as well as the allocation of costs associated with shares issued or sold to NU's service company employees and officers that support CL&P, NSTAR Electric, PSNH and WMECO. | |
NU Incentive Plans: NU maintains long-term equity-based incentive plans in which NU, CL&P, NSTAR Electric, PSNH and WMECO employees, officers and board members are eligible to participate. The incentive plans authorize NU to grant up to 8,000,000 new shares for various types of awards, including RSUs and performance shares, to eligible employees, officers, and board members. | |
NU accounts for its various share-based plans as follows: | |
RSUs - NU records compensation expense, net of estimated forfeitures, on a straight-line basis over the requisite service period based upon the fair value of NU's common shares at the date of grant. The par value of RSUs is reclassified to Common Stock from APIC as RSUs become issued as common shares. | |
Performance Shares - NU records compensation expense, net of estimated forfeitures, on a straight-line basis over the requisite service period. Performance shares vest based upon the extent to which Company goals are achieved. Vesting of outstanding performance shares is based upon both the Company's EPS growth over the requisite service period and the total shareholder return as compared to the Edison Electric Institute (EEI) Index during the requisite service period. The fair value of performance shares is determined at the date of grant using a lattice model. | |
Stock Options - Stock options issued under the NSTAR Incentive Plan that were outstanding immediately prior to the completion of the merger with NSTAR converted into fully vested options to acquire NU common shares, as adjusted by the exchange ratio. The fair value of these awards on the merger date was included in the purchase price as it represented consideration transferred in the merger. Accordingly, no compensation expense was recorded for these stock options. | |
ESPP Shares - For shares sold under the ESPP, no compensation expense was recorded as the ESPP qualifies as a non-compensatory plan. | |
RSUs: NU granted RSUs under the annual long-term incentive programs that are subject to three-year graded vesting schedules for employees, and one-year graded vesting schedules, or immediate vesting, for board members. RSUs are paid in shares, reduced by amounts sufficient to satisfy withholdings for income taxes, subsequent to vesting. | |
As of December 31, 2014 and 2013, the number and weighted average grant-date fair value of unvested RSUs was 1,024,729 and $38.14 per share, and 1,162,216 and $36.58 per share, respectively. The number and weighted average grant-date fair value of RSUs vested and either paid or deferred during 2014 was 437,887 and $37.36 per share, respectively. As of December 31, 2014, 356,018 RSUs were fully vested and deferred and an additional 973,493 are expected to vest. | |
Performance Shares: NU granted performance shares under the annual long-term incentive programs that vest based upon the extent to which Company goals are achieved at the end of three-year performance measurement periods. Performance shares are paid in shares, after the performance measurement period. A summary of performance share transactions is as follows: | |
Upon closing of the merger with NSTAR, 451,358 performance shares under the NU 2011 and 2012 Long-Term Incentive Programs converted to RSUs according to the terms of these programs. Performance shares under the NU 2010 Incentive Program were measured based upon a modified performance period through the date of the merger, in accordance with the terms of the program, and were fully distributed in 2013. | |
Stock Options: Stock options were granted under the NU and NSTAR incentive plans. Options currently outstanding expire ten years from the date of grant and are fully vested. The weighted average remaining contractual lives for the options outstanding as of December 31, 2014 is 4.3 years. A summary of stock option transactions is as follows: | |
Employee Share Purchase Plan: NU maintains an ESPP for eligible employees, which allows for NU common shares to be purchased by employees at the end of successive six-month offering periods at 95 percent of the closing market price on the last day of each six-month period. Employees are permitted to purchase shares having a value not exceeding 25 percent of their compensation as of the beginning of the offering period up to a specified limit. The ESPP qualifies as a non-compensatory plan under accounting guidance for share-based payments, and no compensation expense is recorded for ESPP purchases. | |
D. Other Retirement Benefits | |
NU provides benefits for retirement and other benefits for certain current and past company officers of NU, including CL&P, PSNH and WMECO. These benefits are accounted for on an accrual basis and expensed over the service lives of the employees. The actuarially-determined liability for these benefits, which is included in Other Long-Term Liabilities on the balance sheets, as well as the related expense, are as follows: | |
Employee Stock Ownership Plan (ESOP), Policy [Policy Text Block] | B. Defined Contribution Plans |
Effective January 1, 2014, NU maintains one defined contribution plan on behalf of eligible participants, the NUSCO 401k Plan. The NUSCO 401k Plan provides for employee and employer contributions up to statutory limits. For eligible employees, the NUSCO 401k Plan provides employer matching contributions of either 100 percent up to a maximum of three percent of eligible compensation or 50 percent up to a maximum of eight percent of eligible compensation. For newly hired employees beginning in 2014, the NUSCO 401k Plan provides employer matching contributions of 100 percent up to a maximum of three percent of eligible compensation. | |
The NUSCO 401k Plan also contains a K-Vantage feature on behalf of eligible participants, which provides an additional employer contribution based on age and years of service. K-Vantage participants are not eligible to actively participate in the NU defined benefit plans. | |
The total defined contribution plan employer matching contributions, including the K-Vantage program contributions, were as follows: |
Provision_for_Uncollectible_Ac
Provision for Uncollectible Accounts (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||||
Schedule Of Accounts Notes Loans And Financing Receivable Text Block | Total Provision for Uncollectible Accounts | Uncollectible Hardship | |||||||||||
As of December 31, | As of December 31, | ||||||||||||
(Millions of Dollars) | 2014 | 2013 | 2014 | 2013 | |||||||||
NU | $ | 175.3 | $ | 171.3 | $ | 91.5 | $ | 81.2 | |||||
CL&P | 84.3 | 82 | 74 | 67.3 | |||||||||
NSTAR Electric | 40.7 | 41.7 | - | - | |||||||||
PSNH | 7.7 | 7.4 | - | - | |||||||||
WMECO | 9.9 | 10 | 6.2 | 5.5 |
Equity_Method_Investments_Tabl
Equity Method Investments (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||
Schedule of Equity Method Investments [Table Text Block] | (Percent) | CYAPC | YAEC | MYAPC | |||||
CL&P | 34.5 | % | 24.5 | % | 12 | % | |||
NSTAR Electric | 14 | 14 | 4 | ||||||
PSNH | 5 | 7 | 5 | ||||||
WMECO | 9.5 | 7 | 3 | ||||||
As of December 31, | |||||||||
(Millions of Dollars) | 2014 | 2013 | |||||||
CL&P | $ | 1.2 | $ | 1.2 | |||||
NSTAR Electric | 0.5 | 0.5 | |||||||
PSNH | 0.3 | 0.3 | |||||||
WMECO | 0.3 | 0.3 |
Operating_Expenses_Tables
Operating Expenses (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2014 | |||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||
Schedule of Fuel Costs [Table Text Block] | For the Years Ended December 31, | ||||||||||
(Millions of Dollars) | 2014 | 2013 | 2012 | ||||||||
NU - Natural Gas and Fuel (1) | $ | 599.4 | $ | 466.5 | $ | 346.8 | |||||
PSNH - Fuel | 113.4 | 104.8 | 103.4 | ||||||||
(1) NSTAR Gas natural gas costs were included in NU beginning April 10, 2012. |
Allowance_for_Funds_Used_Durin
Allowance for Funds Used During Construction (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||
Schedule Of Allowance For Funds Used During Construction [Table Text Block] | NU | For the Years Ended December 31, | |||||||||||||||||||||||||||||||||||
(Millions of Dollars, except percentages) | 2014 | 2013 | 2012 (1) | ||||||||||||||||||||||||||||||||||
Borrowed Funds | $ | 5.8 | $ | 4.1 | $ | 5.3 | |||||||||||||||||||||||||||||||
Equity Funds | 13.7 | 7.1 | 6.8 | ||||||||||||||||||||||||||||||||||
Total AFUDC | $ | 19.5 | $ | 11.2 | $ | 12.1 | |||||||||||||||||||||||||||||||
Average AFUDC Rate | 3.40% | 2.70% | 3.70% | ||||||||||||||||||||||||||||||||||
(1) NSTAR amounts were included in NU beginning April 10, 2012. | |||||||||||||||||||||||||||||||||||||
For the Years Ended December 31, | |||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||
(Millions of Dollars, | NSTAR | NSTAR | NSTAR | ||||||||||||||||||||||||||||||||||
except percentages) | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | |||||||||||||||||||||||||
Borrowed Funds | $ | 1.9 | $ | 2 | $ | 0.6 | $ | 0.9 | $ | 2.2 | $ | 0.5 | $ | 0.5 | $ | 0.5 | $ | 2.5 | $ | 0.3 | $ | 1.6 | $ | 0.5 | |||||||||||||
Equity Funds | 2.9 | 3.8 | 0.6 | 1.7 | 2.9 | - | 0.2 | 1 | 1.9 | - | 1.9 | 1 | |||||||||||||||||||||||||
Total AFUDC | $ | 4.8 | $ | 5.8 | $ | 1.2 | $ | 2.6 | $ | 5.1 | $ | 0.5 | $ | 0.7 | $ | 1.5 | $ | 4.4 | $ | 0.3 | $ | 3.5 | $ | 1.5 | |||||||||||||
Average AFUDC Rate | 3.40% | 2.50% | 1.80% | 5.60% | 3.70% | 0.50% | 1.10% | 6.10% | 3.60% | 0.40% | 5.90% | 6.80% |
Other_Taxes_Tables
Other Taxes (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||
State Of Connecticut Gross Earnings Taxes [Table Text Block] | For the Years Ended December 31, | ||||||||
(Millions of Dollars) | 2014 | 2013 | 2012 | ||||||
NU | $ | 148.2 | $ | 144.1 | $ | 135 | |||
CL&P | 127.9 | 128.2 | 120.7 |
Supplemental_Cash_Flow_Informa
Supplemental Cash Flow Information (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | P. | Supplemental Cash Flow Information | |||||||||||||||||||||||||||||||||||
NU | As of and For the Years Ended December 31, | ||||||||||||||||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | 2012 (1) | ||||||||||||||||||||||||||||||||||
Cash Paid/(Received) During the Year for: | |||||||||||||||||||||||||||||||||||||
Interest, Net of Amounts Capitalized | $ | 349.6 | $ | 343.3 | $ | 356.5 | |||||||||||||||||||||||||||||||
Income Taxes | 334.2 | 50 | -12.8 | ||||||||||||||||||||||||||||||||||
Non-Cash Investing Activities: | |||||||||||||||||||||||||||||||||||||
Plant Additions Included in Accounts Payable (As of) | 181.9 | 193.1 | 160.6 | ||||||||||||||||||||||||||||||||||
(1) NSTAR amounts were included in NU beginning April 10, 2012. | |||||||||||||||||||||||||||||||||||||
As of and For the Years Ended December 31, | |||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||
NSTAR | NSTAR | NSTAR | |||||||||||||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | |||||||||||||||||||||||||
Cash Paid/(Received) During the Year for: | |||||||||||||||||||||||||||||||||||||
Interest, Net of Amounts Capitalized | $ | 144.1 | $ | 75.3 | $ | 41.1 | $ | 25.9 | $ | 131.6 | $ | 75.8 | $ | 43.3 | $ | 25.8 | $ | 129.4 | $ | 94.6 | $ | 49.8 | $ | 25.8 | |||||||||||||
Income Taxes | 135.4 | 217.1 | 2.3 | 25.1 | 55 | 163.4 | -30.1 | -69 | -42 | 88.1 | 14.7 | -8.4 | |||||||||||||||||||||||||
Non-Cash Investing Activities: | |||||||||||||||||||||||||||||||||||||
Plant Additions Included in Accounts Payable (As of) | 63.5 | 34.6 | 39.3 | 14.2 | 51.4 | 57 | 34.9 | 19.5 | 42.8 | 50 | 16.8 | 30 |
REGULATORY_ACCOUNTING_Tables
REGULATORY ACCOUNTING (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||||||||||||||||
Schedule Of Regulatory Assets Text Block | NU | As of December 31, | |||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | |||||||||||||||||||||||
Benefit Costs | $ | 2,016.00 | $ | 1,240.20 | |||||||||||||||||||||
Derivative Liabilities | 425.5 | 638 | |||||||||||||||||||||||
Income Taxes, Net | 635.3 | 626.2 | |||||||||||||||||||||||
Storm Restoration Costs | 502.8 | 589.6 | |||||||||||||||||||||||
Goodwill-related | 505.4 | 525.9 | |||||||||||||||||||||||
Regulatory Tracker Mechanisms | 350.5 | 323.4 | |||||||||||||||||||||||
Contractual Obligations - Yankee Companies | 123.8 | 154.2 | |||||||||||||||||||||||
Buy Out Agreements for Power Contracts | 42.6 | 70.2 | |||||||||||||||||||||||
Other Regulatory Assets | 124.7 | 126.8 | |||||||||||||||||||||||
Total Regulatory Assets | 4,726.60 | 4,294.50 | |||||||||||||||||||||||
Less: Current Portion | 672.5 | 535.8 | |||||||||||||||||||||||
Total Long-Term Regulatory Assets | $ | 4,054.10 | $ | 3,758.70 | |||||||||||||||||||||
As of December 31, | |||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
NSTAR | NSTAR | ||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | |||||||||||||||||
Benefit Costs | $ | 445.4 | $ | 515.9 | $ | 174.3 | $ | 85 | $ | 297.7 | $ | 496.7 | $ | 100.6 | $ | 57.3 | |||||||||
Derivative Liabilities | 410.9 | 4.5 | - | - | 630.4 | 7.7 | - | - | |||||||||||||||||
Income Taxes, Net | 437.7 | 83.7 | 38 | 35.5 | 415.5 | 84 | 40.3 | 43.7 | |||||||||||||||||
Storm Restoration Costs | 319.6 | 103.7 | 47.7 | 31.8 | 397.8 | 109.3 | 43.7 | 38.8 | |||||||||||||||||
Goodwill-related | - | 433.9 | - | - | - | 451.5 | - | - | |||||||||||||||||
Regulatory Tracker Mechanisms | 16.1 | 141.4 | 103.5 | 33 | 8 | 169.5 | 83.3 | 32.6 | |||||||||||||||||
Buy Out Agreements for Power Contracts | - | 38.6 | 4 | - | - | 64.7 | 5.5 | - | |||||||||||||||||
Other Regulatory Assets | 66.1 | 56.1 | 37.3 | 12.9 | 64.6 | 55.9 | 38.1 | 16.7 | |||||||||||||||||
Total Regulatory Assets | 1,695.80 | 1,377.80 | 404.8 | 198.2 | 1,814.00 | 1,439.30 | 311.5 | 189.1 | |||||||||||||||||
Less: Current Portion | 220.3 | 198.7 | 111.7 | 51.9 | 150.9 | 204.1 | 92.2 | 43 | |||||||||||||||||
Total Long-Term Regulatory Assets | $ | 1,475.50 | $ | 1,179.10 | $ | 293.1 | $ | 146.3 | $ | 1,663.10 | $ | 1,235.20 | $ | 219.3 | $ | 146.1 | |||||||||
Schedule Of Regulatory Liabilities Text Block | NU | As of December 31, | |||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | |||||||||||||||||||||||
Cost of Removal | $ | 439.9 | $ | 435.1 | |||||||||||||||||||||
Regulatory Tracker Mechanisms | 192.3 | 151.2 | |||||||||||||||||||||||
AFUDC - Transmission | 67.1 | 68.1 | |||||||||||||||||||||||
Other Regulatory Liabilities | 50.8 | 52.9 | |||||||||||||||||||||||
Total Regulatory Liabilities | 750.1 | 707.3 | |||||||||||||||||||||||
Less: Current Portion | 235 | 204.3 | |||||||||||||||||||||||
Total Long-Term Regulatory Liabilities | $ | 515.1 | $ | 503 | |||||||||||||||||||||
As of December 31, | |||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
NSTAR | NSTAR | ||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | |||||||||||||||||
Cost of Removal | $ | 19.7 | $ | 258.3 | $ | 50.3 | $ | 1.1 | $ | 29.1 | $ | 250 | $ | 49.7 | $ | - | |||||||||
Regulatory Tracker Mechanisms | 122.6 | 20.7 | 14.2 | 22.3 | 95.6 | 21.9 | 21.6 | 21.1 | |||||||||||||||||
AFUDC - Transmission | 53.6 | 4.4 | - | 9.1 | 54.7 | 4.1 | - | 9.3 | |||||||||||||||||
Other Regulatory Liabilities | 10.1 | 28.9 | 2.9 | 0.8 | 8.4 | 31.1 | 1 | 3.4 | |||||||||||||||||
Total Regulatory Liabilities | 206 | 312.3 | 67.4 | 33.3 | 187.8 | 307.1 | 72.3 | 33.8 | |||||||||||||||||
Less: Current Portion | 124.7 | 49.6 | 16 | 22.5 | 94 | 54 | 20.6 | 19.9 | |||||||||||||||||
Total Long-Term Regulatory Liabilities | $ | 81.3 | $ | 262.7 | $ | 51.4 | $ | 10.8 | $ | 93.8 | $ | 253.1 | $ | 51.7 | $ | 13.9 |
PROPERTY_PLANT_AND_ACCUMULATED1
PROPERTY, PLANT AND ACCUMULATED DEPRECIATION (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ||||||||||||||||||||||||
Schedule of Public Utility Property, Plant, and Equipment [Text Block] | NU | As of December 31, | ||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | ||||||||||||||||||||||
Distribution - Electric | $ | 12,495.20 | $ | 11,950.20 | ||||||||||||||||||||
Distribution - Natural Gas | 2,595.40 | 2,425.90 | ||||||||||||||||||||||
Transmission | 6,930.70 | 6,412.50 | ||||||||||||||||||||||
Generation | 1,170.90 | 1,152.30 | ||||||||||||||||||||||
Electric and Natural Gas Utility | 23,192.20 | 21,940.90 | ||||||||||||||||||||||
Other (1) | 551.3 | 508.7 | ||||||||||||||||||||||
Property, Plant and Equipment, Gross | 23,743.50 | 22,449.60 | ||||||||||||||||||||||
Less: Accumulated Depreciation | ||||||||||||||||||||||||
Electric and Natural Gas Utility | -5,777.80 | -5,387.00 | ||||||||||||||||||||||
Other | -231.8 | -196.2 | ||||||||||||||||||||||
Total Accumulated Depreciation | -6,009.60 | -5,583.20 | ||||||||||||||||||||||
Property, Plant and Equipment, Net | 17,733.90 | 16,866.40 | ||||||||||||||||||||||
Construction Work in Progress | 913.1 | 709.8 | ||||||||||||||||||||||
Total Property, Plant and Equipment, Net | $ | 18,647.00 | $ | 17,576.20 | ||||||||||||||||||||
As of December 31, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
NSTAR | NSTAR | |||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | ||||||||||||||||
Distribution | $ | 5,158.80 | $ | 4,895.50 | $ | 1,696.70 | $ | 784.2 | $ | 4,930.70 | $ | 4,694.70 | $ | 1,608.20 | $ | 756.6 | ||||||||
Transmission | 3,274.00 | 1,928.50 | 789.7 | 891 | 3,071.90 | 1,772.30 | 695.7 | 826.4 | ||||||||||||||||
Generation | - | - | 1,136.50 | 34.4 | - | - | 1,131.20 | 21.1 | ||||||||||||||||
Property, Plant and Equipment, Gross | 8,432.80 | 6,824.00 | 3,622.90 | 1,709.60 | 8,002.60 | 6,467.00 | 3,435.10 | 1,604.10 | ||||||||||||||||
Less: Accumulated Depreciation | -1,928.00 | -1,761.40 | -1,090.00 | -297.4 | -1,804.10 | -1,631.30 | -1,021.80 | -271.5 | ||||||||||||||||
Property, Plant and Equipment, Net | 6,504.80 | 5,062.60 | 2,532.90 | 1,412.20 | 6,198.50 | 4,835.70 | 2,413.30 | 1,332.60 | ||||||||||||||||
Construction Work in Progress | 304.9 | 272.8 | 102.9 | 49.1 | 252.8 | 208.2 | 54.3 | 48.5 | ||||||||||||||||
Total Property, Plant and Equipment, Net | $ | 6,809.70 | $ | 5,335.40 | $ | 2,635.80 | $ | 1,461.30 | $ | 6,451.30 | $ | 5,043.90 | $ | 2,467.60 | $ | 1,381.10 | ||||||||
(Percent) | 2014 | 2013 | 2012 | |||||||||||||||||||||
NU | 3 | % | 2.8 | % | 2.5 | % | ||||||||||||||||||
CL&P | 2.7 | 2.5 | 2.5 | |||||||||||||||||||||
NSTAR Electric | 3 | 2.9 | 2.8 | |||||||||||||||||||||
PSNH | 3 | 3 | 3 | |||||||||||||||||||||
WMECO | 3.3 | 2.9 | 3.3 | |||||||||||||||||||||
The following table summarizes average useful lives of depreciable assets: | ||||||||||||||||||||||||
Average Depreciable Life | ||||||||||||||||||||||||
(Years) | NU | CL&P | NSTAR Electric | PSNH | WMECO | |||||||||||||||||||
Distribution | 34.9 | 37.5 | 32.3 | 32.3 | 30.9 | |||||||||||||||||||
Transmission | 42.5 | 39.8 | 44 | 43.7 | 49.9 | |||||||||||||||||||
Generation | 31.9 | - | - | 32.1 | 25 | |||||||||||||||||||
Other | 14.2 | - | - | - | - |
DERIVATIVE_INSTRUMENTS_Tables
DERIVATIVE INSTRUMENTS (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ||||||||||||||||||||
Schedule Of Derivative Instruments In Statement Of Financial Position Fair Value Text Block | ||||||||||||||||||||
As of December 31, | ||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||
Commodity Supply | Net Amount | Commodity Supply | Net Amount | |||||||||||||||||
and Price Risk | Recorded as | and Price Risk | Recorded as | |||||||||||||||||
(Millions of Dollars) | Management | Netting (1) | a Derivative | Management | Netting (1) | a Derivative | ||||||||||||||
Current Derivative Assets: | ||||||||||||||||||||
Level 2: | ||||||||||||||||||||
NU | $ | - | $ | - | $ | - | $ | 1.9 | $ | -0.3 | $ | 1.6 | ||||||||
Level 3: | ||||||||||||||||||||
NU | 16.2 | -6.6 | 9.6 | 18.4 | -9.8 | 8.6 | ||||||||||||||
CL&P | 16.1 | -6.6 | 9.5 | 17.1 | -9.8 | 7.3 | ||||||||||||||
NSTAR Electric | 0.1 | - | 0.1 | 1.2 | - | 1.2 | ||||||||||||||
Long-Term Derivative Assets: | ||||||||||||||||||||
Level 2: | ||||||||||||||||||||
NU | $ | - | $ | - | $ | - | $ | 0.2 | $ | - | $ | 0.2 | ||||||||
Level 3: | ||||||||||||||||||||
NU | 93.5 | -19.2 | 74.3 | 116.2 | -42.2 | 74 | ||||||||||||||
CL&P | 93.5 | -19.2 | 74.3 | 113.6 | -42.2 | 71.4 | ||||||||||||||
Current Derivative Liabilities: | ||||||||||||||||||||
Level 2: | ||||||||||||||||||||
NU | $ | -9.8 | $ | - | $ | -9.8 | $ | - | $ | - | $ | - | ||||||||
Level 3: | ||||||||||||||||||||
NU | -90 | - | -90 | -93.7 | - | -93.7 | ||||||||||||||
CL&P | -88.5 | - | -88.5 | -92.2 | - | -92.2 | ||||||||||||||
NSTAR Electric | -1.5 | - | -1.5 | -1.5 | - | -1.5 | ||||||||||||||
Long-Term Derivative Liabilities: | ||||||||||||||||||||
Level 2: | ||||||||||||||||||||
NU | $ | -0.3 | $ | - | $ | -0.3 | $ | - | $ | - | $ | - | ||||||||
Level 3: | ||||||||||||||||||||
NU | -409.3 | - | -409.3 | -624.1 | - | -624.1 | ||||||||||||||
CL&P | -406.2 | - | -406.2 | -617.1 | - | -617.1 | ||||||||||||||
NSTAR Electric | -3.1 | - | -3.1 | -7 | - | -7 | ||||||||||||||
Schedule Of Derivative Instruments Gain Loss In Statement Of Financial Performance Text Block | Gain/(Loss) Recognized on Derivatives | |||||||||||||||||||
(Millions of Dollars) | For the Years Ended December 31, | |||||||||||||||||||
NU | 2014 | 2013 | 2012 | |||||||||||||||||
Balance Sheets: | ||||||||||||||||||||
Regulatory Assets and Liabilities | $ | 134.4 | $ | 160.6 | $ | -29 | ||||||||||||||
Statements of Income: | ||||||||||||||||||||
Purchased Power, Fuel and Transmission | - | 1 | -0.7 | |||||||||||||||||
Fairvalueinputsliabilitiesquantitativeinformationtabletextblock | As of December 31, | |||||||||||||||||||
2014 | 2013 | |||||||||||||||||||
Range | Period Covered | Range | Period Covered | |||||||||||||||||
Energy Prices: | ||||||||||||||||||||
NU | $ | 52 | per MWh | 2020 | $ | 49 | - | 77 | per MWh | 2018 - 2029 | ||||||||||
CL&P | $ | 52 | per MWh | 2020 | $ | 56 | - | 58 | per MWh | 2018 - 2029 | ||||||||||
Capacity Prices: | ||||||||||||||||||||
NU | $ | 5.3 | - | 12.98 | per kW-Month | 2016 - 2026 | $ | 5.07 | - | 11.82 | per kW-Month | 2017 - 2029 | ||||||||
CL&P | $ | 11.08 | - | 12.98 | per kW-Month | 2018 - 2026 | $ | 5.07 | - | 10.42 | per kW-Month | 2017 - 2026 | ||||||||
NSTAR Electric | $ | 5.3 | - | 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 | 2015 - 2024 | $ | 3.3 | per kW-Month | 2014 - 2024 | ||||||||||
REC Prices: | ||||||||||||||||||||
NU | $ | 38 | - | 56 | per REC | 2015 - 2018 | $ | 36 | - | 87 | per REC | 2014 - 2029 | ||||||||
NSTAR Electric | $ | 38 | - | 56 | per REC | 2015 - 2018 | $ | 36 | - | 70 | per REC | 2014 - 2018 | ||||||||
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputReconciliationTableTextBlock | (Millions of Dollars) | NU | CL&P | NSTAR Electric | ||||||||||||||||
Derivatives, Net: | ||||||||||||||||||||
Fair Value as of January 1, 2013 | $ | -878.6 | $ | -866.2 | $ | -14.9 | ||||||||||||||
Net Realized/Unrealized Gains Included in: | ||||||||||||||||||||
Net Income (1) | 10.9 | - | - | |||||||||||||||||
Regulatory Assets and Liabilities | 158.3 | 148.9 | 3.5 | |||||||||||||||||
Settlements | 74.2 | 86.7 | 4.1 | |||||||||||||||||
Fair Value as of December 31, 2013 | $ | -635.2 | $ | -630.6 | $ | -7.3 | ||||||||||||||
Net Realized/Unrealized Gains Included in Regulatory Assets and Liabilities | 141.3 | 139.7 | 4.3 | |||||||||||||||||
Settlements | 78.5 | 80 | -1.5 | |||||||||||||||||
Fair Value as of December 31, 2014 | $ | -415.4 | $ | -410.9 | $ | -4.5 |
MARKETABLE_SECURITIES_Tables
MARKETABLE SECURITIES (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||||||||||||||||
Schedule Of Available For Sale Securities Reconciliation [Table TextBlock] | As of December 31, | ||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
Pre-Tax | Pre-Tax | Pre-Tax | Pre-Tax | ||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Amortized | Unrealized | Unrealized | ||||||||||||||||||||
(Millions of Dollars) | Cost | Gains | Losses | Fair Value | Cost | Gains | Losses | Fair Value | |||||||||||||||||
NU | |||||||||||||||||||||||||
Debt Securities (1) | $ | 313 | $ | 7.5 | $ | -0.3 | $ | 320.2 | $ | 299.2 | $ | 2.5 | $ | -2.1 | $ | 299.6 | |||||||||
Equity Securities (1) | 160.6 | 73.3 | - | 233.9 | 163.6 | 60.5 | - | 224.1 | |||||||||||||||||
WMECO | |||||||||||||||||||||||||
Debt Securities (2) | 58.2 | - | -0.1 | 58.1 | 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) | $ | 55 | $ | 55 | $ | 28.7 | $ | 28.7 | |||||||||||||||||
One to five years | 88.8 | 89.1 | 25.8 | 25.8 | |||||||||||||||||||||
Six to ten years | 66 | 67.7 | 0.7 | 0.7 | |||||||||||||||||||||
Greater than ten years | 103.2 | 108.4 | 3 | 2.9 | |||||||||||||||||||||
Total Debt Securities | $ | 313 | $ | 320.2 | $ | 58.2 | $ | 58.1 | |||||||||||||||||
Fair Value Heirarchy [Table Text Block] | NU | WMECO | |||||||||||||||||||||||
As of December 31, | As of December 31, | ||||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Level 1: | |||||||||||||||||||||||||
Mutual Funds and Equities | $ | 319 | $ | 281.3 | $ | - | $ | - | |||||||||||||||||
Money Market Funds | 24.9 | 32.9 | 4.3 | 10.9 | |||||||||||||||||||||
Total Level 1 | $ | 343.9 | $ | 314.2 | $ | 4.3 | $ | 10.9 | |||||||||||||||||
Level 2: | |||||||||||||||||||||||||
U.S. Government Issued Debt Securities (Agency and Treasury) | $ | 51.3 | $ | 61.4 | $ | - | $ | 6.8 | |||||||||||||||||
Corporate Debt Securities | 49.1 | 53.6 | 14.7 | 15.1 | |||||||||||||||||||||
Asset-Backed Debt Securities | 54.1 | 30.4 | 14.5 | 9 | |||||||||||||||||||||
Municipal Bonds | 116.3 | 105.5 | 13 | 11.2 | |||||||||||||||||||||
Other Fixed Income Securities | 24.5 | 15.8 | 11.6 | 4.9 | |||||||||||||||||||||
Total Level 2 | $ | 295.3 | $ | 266.7 | $ | 53.8 | $ | 47 | |||||||||||||||||
Total Marketable Securities | $ | 639.2 | $ | 580.9 | $ | 58.1 | $ | 57.9 |
ASSET_RETIREMENT_OBLIGATIONS_T
ASSET RETIREMENT OBLIGATIONS (TABLE) | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ||||||||||||||||||||||||||||
Schedule of Change in Asset Retirement Obligation [Table Text Block] | NU | As of December 31, | ||||||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | ||||||||||||||||||||||||||
Balance as of Beginning of Year | $ | 424.9 | $ | 412.2 | ||||||||||||||||||||||||
Liabilities Incurred During the Year | 1.3 | 0.1 | ||||||||||||||||||||||||||
Liabilities Settled During the Year | -19.5 | -13.8 | ||||||||||||||||||||||||||
Accretion | 25.1 | 23.8 | ||||||||||||||||||||||||||
Revisions in Estimated Cash Flows | -5.5 | 2.6 | ||||||||||||||||||||||||||
Balance as of End of Year | $ | 426.3 | $ | 424.9 | ||||||||||||||||||||||||
As of December 31, | ||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||
NSTAR | NSTAR | |||||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | ||||||||||||||||||||
Balance as of Beginning of Year | $ | 35 | $ | 32.8 | $ | 19.5 | $ | 4.5 | $ | 33.6 | $ | 31.4 | $ | 18.4 | $ | 4.3 | ||||||||||||
Liabilities Incurred During the Year | - | - | - | 1.1 | - | - | - | - | ||||||||||||||||||||
Liabilities Settled During the Year | -1.1 | - | - | - | -0.7 | -0.1 | - | - | ||||||||||||||||||||
Accretion | 1.9 | 1.5 | 1.1 | 0.3 | 2.2 | 1.5 | 1.2 | 0.3 | ||||||||||||||||||||
Revisions in Estimated Cash Flows | -0.5 | - | - | - | -0.1 | - | -0.1 | -0.1 | ||||||||||||||||||||
Balance as of End of Year | $ | 35.3 | $ | 34.3 | $ | 20.6 | $ | 5.9 | $ | 35 | $ | 32.8 | $ | 19.5 | $ | 4.5 |
LONGTERM_DEBT_TABLES
LONG-TERM DEBT (TABLES) | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||||||
Schedule of Maturities of Long-term Debt [Table Text Block] | (Millions of Dollars) | NU | CL&P | NSTAR Electric | PSNH | WMECO | |||||||||
2015 | $ | 216.7 | $ | 162 | $ | 4.7 | $ | - | $ | 50 | |||||
2016 | 200 | - | 200 | - | - | ||||||||||
2017 | 745 | 250 | 400 | 70 | - | ||||||||||
2018 | 810 | 300 | - | 110 | - | ||||||||||
2019 | 800 | 250 | - | 150 | - | ||||||||||
Thereafter | 4,956.60 | 1,640.30 | 1,200.00 | 746.3 | 515 | ||||||||||
Total | $ | 7,728.30 | $ | 2,602.30 | $ | 1,804.70 | $ | 1,076.30 | $ | 565 | |||||
Schedule of Long-term Debt Instruments [Table Text Block] | CL&P | As of December 31, | |||||||||||||
(Millions of Dollars) | 2014 | 2013 | |||||||||||||
First Mortgage Bonds: | |||||||||||||||
7.875% 1994 Series D due 2024 | $ | 139.8 | $ | 139.8 | |||||||||||
4.800% 2004 Series A due 2014 (1) | - | 150 | |||||||||||||
5.750% 2004 Series B due 2034 | 130 | 130 | |||||||||||||
5.000% 2005 Series A due 2015 | 100 | 100 | |||||||||||||
5.625% 2005 Series B due 2035 | 100 | 100 | |||||||||||||
6.350% 2006 Series A due 2036 | 250 | 250 | |||||||||||||
5.375% 2007 Series A due 2017 | 150 | 150 | |||||||||||||
5.750% 2007 Series B due 2037 | 150 | 150 | |||||||||||||
5.750% 2007 Series C due 2017 | 100 | 100 | |||||||||||||
6.375% 2007 Series D due 2037 | 100 | 100 | |||||||||||||
5.650% 2008 Series A due 2018 | 300 | 300 | |||||||||||||
5.500% 2009 Series A due 2019 | 250 | 250 | |||||||||||||
2.500% 2013 Series A due 2023 | 400 | 400 | |||||||||||||
4.300% 2014 Series A due 2044 (2) | 250 | - | |||||||||||||
Total First Mortgage Bonds | 2,419.80 | 2,319.80 | |||||||||||||
Pollution Control Revenue Bonds: | |||||||||||||||
4.375% Fixed Rate Tax Exempt due 2028 | 120.5 | 120.5 | |||||||||||||
1.550% Fixed Rate Tax Exempt due 2031 (3) | 62 | 62 | |||||||||||||
Total Pollution Control Revenue Bonds | 182.5 | 182.5 | |||||||||||||
Spent Nuclear Fuel Obligation | 244.5 | 244.4 | |||||||||||||
Less Amounts due Within One Year | -162 | -150 | |||||||||||||
Unamortized Premiums and Discounts, Net | -4.8 | -5.5 | |||||||||||||
CL&P Long-Term Debt | $ | 2,680.00 | $ | 2,591.20 | |||||||||||
NSTAR Electric | As of December 31, | ||||||||||||||
(Millions of Dollars) | 2014 | 2013 | |||||||||||||
Debentures: | |||||||||||||||
4.875% due 2014 (4) | $ | - | $ | 300 | |||||||||||
5.750% due 2036 | 200 | 200 | |||||||||||||
5.625% due 2017 | 400 | 400 | |||||||||||||
5.500% due 2040 | 300 | 300 | |||||||||||||
2.375% due 2022 | 400 | 400 | |||||||||||||
Variable Rate due 2016 (5) | 200 | 200 | |||||||||||||
4.400% due 2044 (4) | 300 | - | |||||||||||||
Total Debentures | 1,800.00 | 1,800.00 | |||||||||||||
Bonds: | |||||||||||||||
7.375% Tax Exempt Sewage Facility Revenue Bonds, due 2015 | 4.7 | 6.4 | |||||||||||||
Total Bonds | 4.7 | 6.4 | |||||||||||||
Less Amounts due Within One Year | -4.7 | -301.7 | |||||||||||||
Unamortized Premiums and Discounts, Net | -7.3 | -5.3 | |||||||||||||
NSTAR Electric Long-Term Debt | $ | 1,792.70 | $ | 1,499.40 | |||||||||||
PSNH | As of December 31, | ||||||||||||||
(Millions of Dollars) | 2014 | 2013 | |||||||||||||
First Mortgage Bonds: | |||||||||||||||
5.25% Series L due 2014 (6) | $ | - | $ | 50 | |||||||||||
5.60% Series M due 2035 | 50 | 50 | |||||||||||||
6.15% Series N due 2017 | 70 | 70 | |||||||||||||
6.00% Series O due 2018 | 110 | 110 | |||||||||||||
4.50% Series P due 2019 | 150 | 150 | |||||||||||||
4.05% Series Q due 2021 | 122 | 122 | |||||||||||||
3.20% Series R due 2021 | 160 | 160 | |||||||||||||
3.50% Series S due 2023 (7) | 325 | 250 | |||||||||||||
Total First Mortgage Bonds | 987 | 962 | |||||||||||||
Pollution Control Revenue Bonds: | |||||||||||||||
Adjustable Rate Tax Exempt Series A due 2021 | 89.3 | 89.3 | |||||||||||||
Total Pollution Control Revenue Bonds | 89.3 | 89.3 | |||||||||||||
Less Amounts due Within One Year | - | -50 | |||||||||||||
Unamortized Premiums and Discounts, Net | - | -2.3 | |||||||||||||
PSNH Long-Term Debt | $ | 1,076.30 | $ | 999 | |||||||||||
WMECO | As of December 31, | ||||||||||||||
(Millions of Dollars) | 2014 | 2013 | |||||||||||||
Notes: | |||||||||||||||
5.90% Senior Notes Series B, due 2034 | $ | 50 | $ | 50 | |||||||||||
5.24% Senior Notes Series C, due 2015 | 50 | 50 | |||||||||||||
6.70% Senior Notes Series D, due 2037 | 40 | 40 | |||||||||||||
5.10% Senior Notes Series E, due 2020 | 95 | 95 | |||||||||||||
3.50% Senior Notes Series F, due 2021 | 250 | 250 | |||||||||||||
3.88% Senior Notes Series G, due 2023 | 80 | 80 | |||||||||||||
Total Notes | 565 | 565 | |||||||||||||
Spent Nuclear Fuel Obligation | 57.4 | 57.3 | |||||||||||||
Less Amounts due Within One Year | -50 | - | |||||||||||||
Unamortized Premiums and Discounts, Net | 6.1 | 7.1 | |||||||||||||
WMECO Long-Term Debt | $ | 578.5 | $ | 629.4 | |||||||||||
OTHER | As of December 31, | ||||||||||||||
(Millions of Dollars) | 2014 | 2013 | |||||||||||||
Yankee Gas - First Mortgage Bonds: | |||||||||||||||
8.48% Series B due 2022 | $ | 20 | $ | 20 | |||||||||||
4.80% Series G due 2014 (8) | - | 75 | |||||||||||||
5.26% Series H due 2019 | 50 | 50 | |||||||||||||
5.35% Series I due 2035 | 50 | 50 | |||||||||||||
6.90% Series J due 2018 | 100 | 100 | |||||||||||||
4.87% Series K due 2020 | 50 | 50 | |||||||||||||
4.82% Series L due 2044 (8) | 100 | - | |||||||||||||
Total First Mortgage Bonds | 370 | 345 | |||||||||||||
Unamortized Premium | 0.6 | 0.7 | |||||||||||||
Yankee Gas Long-Term Debt | 370.6 | 345.7 | |||||||||||||
NSTAR Gas - First Mortgage Bonds: | |||||||||||||||
9.95% Series J due 2020 | 25 | 25 | |||||||||||||
7.11% Series K due 2033 | 35 | 35 | |||||||||||||
7.04% Series M due 2017 | 25 | 25 | |||||||||||||
4.46% Series N due 2020 | 125 | 125 | |||||||||||||
NSTAR Gas Long-Term Debt | 210 | 210 | |||||||||||||
Other - Notes and Debentures: | |||||||||||||||
1.45% Senior Notes Series E due 2018 (NU Parent) | 300 | 300 | |||||||||||||
2.80% Senior Notes Series F due 2023 (NU Parent) | 450 | 450 | |||||||||||||
4.50% Debentures due 2019 (NU Parent) | 350 | 350 | |||||||||||||
NU Commercial Paper Borrowings(8) (9) | 446.3 | 25 | |||||||||||||
Spent Nuclear Fuel Obligation (CYAPC) | 179.4 | 179.4 | |||||||||||||
Total Other Notes and Debentures | 1,725.70 | 1,304.40 | |||||||||||||
Fair Value Adjustment (10) | 202.3 | 230.7 | |||||||||||||
Less Amounts due Within One Year | - | - | |||||||||||||
Less Fair Value Adjustment - Current Portion (10) | -28.9 | -31.7 | |||||||||||||
Unamortized Premiums and Discounts, Net | -1.2 | -1.3 | |||||||||||||
Total Other Long-Term Debt | $ | 2,478.50 | $ | 2,057.80 | |||||||||||
Total NU Long-Term Debt | $ | 8,606.00 | $ | 7,776.80 |
Recovered_Sheet1
Pension Benefits and Postretirement Benefits Other Than Pensions (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||||||||||||||||
Schedule Of Net Benefit Costs [Table Text Block] | Pension and SERP | ||||||||||||||||||||||||
For the Year Ended December 31, 2014 | |||||||||||||||||||||||||
NSTAR | |||||||||||||||||||||||||
(Millions of Dollars) | NU | CL&P | Electric | PSNH | WMECO | ||||||||||||||||||||
Service Cost | $ | 79.9 | $ | 20.2 | $ | 13.6 | $ | 9.7 | $ | 3.5 | |||||||||||||||
Interest Cost | 225.7 | 50.5 | 41.3 | 23.8 | 10.3 | ||||||||||||||||||||
Expected Return on Plan Assets | -310.8 | -75.4 | -63 | -38.1 | -17.9 | ||||||||||||||||||||
Actuarial Loss | 128.4 | 33.7 | 23.5 | 11.6 | 6.9 | ||||||||||||||||||||
Prior Service Cost | 4.4 | 1.8 | - | 0.7 | 0.4 | ||||||||||||||||||||
Total Net Periodic Benefit Expense | $ | 127.6 | $ | 30.8 | $ | 15.4 | $ | 7.7 | $ | 3.2 | |||||||||||||||
Intercompany Allocations | N/A | $ | 26.7 | $ | 10.4 | $ | 7.6 | $ | 5.1 | ||||||||||||||||
Capitalized Pension Expense | $ | 35.2 | $ | 17.6 | $ | 7.9 | $ | 3 | $ | 2.4 | |||||||||||||||
Pension and SERP | |||||||||||||||||||||||||
For the Year Ended December 31, 2013 | |||||||||||||||||||||||||
NSTAR | |||||||||||||||||||||||||
(Millions of Dollars) | NU | CL&P | Electric (1) | PSNH | WMECO | ||||||||||||||||||||
Service Cost | $ | 102.3 | $ | 24.9 | $ | 33.1 | $ | 13.1 | $ | 4.7 | |||||||||||||||
Interest Cost | 206.7 | 48.3 | 58 | 23.6 | 10 | ||||||||||||||||||||
Expected Return on Plan Assets | -278.1 | -73.8 | -84.4 | -35.4 | -17.4 | ||||||||||||||||||||
Actuarial Loss | 210.5 | 55.9 | 58.1 | 21.6 | 11.8 | ||||||||||||||||||||
Prior Service Cost/(Credit) | 4 | 1.8 | -0.3 | 0.7 | 0.4 | ||||||||||||||||||||
Total Net Periodic Benefit Expense | $ | 245.4 | $ | 57.1 | $ | 64.5 | $ | 23.6 | $ | 9.5 | |||||||||||||||
Intercompany Allocations | N/A | $ | 44.9 | $ | -8.4 | $ | 10.5 | $ | 8 | ||||||||||||||||
Capitalized Pension Expense | $ | 73.2 | $ | 28 | $ | 28.9 | $ | 7.3 | $ | 5.2 | |||||||||||||||
Pension and SERP | |||||||||||||||||||||||||
For the Year Ended December 31, 2012 | |||||||||||||||||||||||||
NSTAR | |||||||||||||||||||||||||
(Millions of Dollars) | NU (2) | CL&P | Electric (1) | PSNH | WMECO | ||||||||||||||||||||
Service Cost | $ | 84.3 | $ | 21.8 | $ | 30.3 | $ | 11.8 | $ | 4.1 | |||||||||||||||
Interest Cost | 198.3 | 51.2 | 58.9 | 24.4 | 10.5 | ||||||||||||||||||||
Expected Return on Plan Assets | -220.9 | -70.6 | -65.6 | -28.2 | -16.4 | ||||||||||||||||||||
Actuarial Loss | 172.4 | 49.6 | 63.1 | 16.2 | 10.7 | ||||||||||||||||||||
Prior Service Cost/(Credit) | 7.9 | 3.6 | -0.6 | 1.5 | 0.8 | ||||||||||||||||||||
Total Net Periodic Benefit Expense | $ | 242 | $ | 55.6 | $ | 86.1 | $ | 25.7 | $ | 9.7 | |||||||||||||||
Curtailments and Settlements | $ | 2.2 | $ | - | $ | - | $ | - | $ | - | |||||||||||||||
Intercompany Allocations | N/A | $ | 42.8 | $ | -12.3 | $ | 10.1 | $ | 8.1 | ||||||||||||||||
Capitalized Pension Expense | $ | 70.6 | $ | 26.8 | $ | 30.7 | $ | 7.9 | $ | 5.1 | |||||||||||||||
PBOP | |||||||||||||||||||||||||
For the Year Ended December 31, 2014 | |||||||||||||||||||||||||
NSTAR | |||||||||||||||||||||||||
(Millions of Dollars) | NU | CL&P | Electric | PSNH | WMECO | ||||||||||||||||||||
Service Cost | $ | 12.5 | $ | 2.2 | $ | 3.1 | $ | 1.3 | $ | 0.4 | |||||||||||||||
Interest Cost | 49.5 | 8.1 | 19.4 | 4.3 | 1.7 | ||||||||||||||||||||
Expected Return on Plan Assets | -63.3 | -10.5 | -25.9 | -5.4 | -2.3 | ||||||||||||||||||||
Actuarial Loss/(Gain) | 12.2 | 4.2 | -0.5 | 2.2 | 0.5 | ||||||||||||||||||||
Prior Service Credit | -2.8 | - | -1.9 | - | - | ||||||||||||||||||||
Total Net Periodic Benefit Expense/(Income) | $ | 8.1 | $ | 4 | $ | -5.8 | $ | 2.4 | $ | 0.3 | |||||||||||||||
Intercompany Allocations | N/A | $ | 3.8 | $ | 0.8 | $ | 1 | $ | 0.7 | ||||||||||||||||
Capitalized PBOP Expense/(Income) | $ | 1.4 | $ | 1.8 | $ | -2.3 | $ | 0.8 | $ | 0.2 | |||||||||||||||
PBOP | |||||||||||||||||||||||||
For the Year Ended December 31, 2013 | |||||||||||||||||||||||||
(Millions of Dollars) | NU | CL&P | PSNH | WMECO | |||||||||||||||||||||
Service Cost | $ | 16.9 | $ | 3.4 | $ | 2.3 | $ | 0.7 | |||||||||||||||||
Interest Cost | 47.2 | 7.9 | 4 | 1.7 | |||||||||||||||||||||
Expected Return on Plan Assets | -55.4 | -10.1 | -5.2 | -2.3 | |||||||||||||||||||||
Actuarial Loss | 26 | 7.4 | 3.6 | 1.1 | |||||||||||||||||||||
Prior Service Credit | -2.1 | - | - | - | |||||||||||||||||||||
Total Net Periodic Benefit Expense | $ | 32.6 | $ | 8.6 | $ | 4.7 | $ | 1.2 | |||||||||||||||||
Intercompany Allocations | N/A | $ | 7.1 | $ | 1.6 | $ | 1.3 | ||||||||||||||||||
Capitalized PBOP Expense | $ | 8.8 | $ | 3.9 | $ | 1.3 | $ | 0.6 | |||||||||||||||||
PBOP | |||||||||||||||||||||||||
For the Year Ended December 31, 2012 | |||||||||||||||||||||||||
(Millions of Dollars) | NU (1) | CL&P | PSNH | WMECO | |||||||||||||||||||||
Service Cost | $ | 15.7 | $ | 3 | $ | 2 | $ | 0.6 | |||||||||||||||||
Interest Cost | 49 | 9.2 | 4.6 | 2 | |||||||||||||||||||||
Expected Return on Plan Assets | -39.2 | -9.1 | -4.6 | -2.1 | |||||||||||||||||||||
Actuarial Loss | 36 | 7.5 | 3.6 | 1.2 | |||||||||||||||||||||
Prior Service Credit | -1.4 | - | - | - | |||||||||||||||||||||
Net Transition Obligation Cost | 12.2 | 6.1 | 2.5 | 1.3 | |||||||||||||||||||||
Total Net Periodic Benefit Expense | $ | 72.3 | $ | 16.7 | $ | 8.1 | $ | 3 | |||||||||||||||||
Intercompany Allocations | N/A | $ | 7.9 | $ | 2 | $ | 1.5 | ||||||||||||||||||
Capitalized PBOP Expense | $ | 26.6 | $ | 8.2 | $ | 2.3 | $ | 1.6 | |||||||||||||||||
-1 | NSTAR amounts were included in NU beginning April 10, 2012. | ||||||||||||||||||||||||
Schedule of Defined Benefit Plans Disclosures [Table Text Block] | The accumulated benefit obligation for the Pension and SERP Plans is as follows: | ||||||||||||||||||||||||
(Millions of Dollars) | NU | CL&P | NSTAR Electric (1) | PSNH | WMECO | ||||||||||||||||||||
2014 | $ | 5,000.10 | $ | 1,101.40 | $ | 910.4 | $ | 524.5 | $ | 226.4 | |||||||||||||||
2013 | 4,538.80 | 1,058.00 | 1,280.60 | 520.1 | 220.6 | ||||||||||||||||||||
-1 | NSTAR Electric amounts do not include the accumulated benefit obligation for the SERP Plan as of December 31, 2013. | ||||||||||||||||||||||||
The following actuarial assumptions were used in calculating the Pension and SERP Plans' year end funded status: | |||||||||||||||||||||||||
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] | The following is a summary of the changes in plan assets and benefit obligations recognized in Regulatory Assets and Other Comprehensive Income (OCI) as well as amounts in Regulatory Assets and OCI reclassified as net periodic benefit expense during the years presented: | ||||||||||||||||||||||||
Amounts Reclassified To/From | |||||||||||||||||||||||||
Regulatory Assets | OCI | ||||||||||||||||||||||||
For the Years Ended December 31, | |||||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Actuarial (Gains)/Losses Arising During the Year | $ | 797.3 | $ | -635.2 | $ | 55.9 | $ | -28.9 | |||||||||||||||||
Actuarial Losses Reclassified as Net Periodic Benefit Expense | -122.8 | -201.2 | -5.6 | -9.4 | |||||||||||||||||||||
Prior Service Cost Reclassified as Net Periodic Benefit Expense | -4.2 | -3.8 | -0.2 | -0.2 | |||||||||||||||||||||
The following is a summary of the remaining Regulatory Assets and Accumulated Other Comprehensive Loss amounts that have not been recognized as components of net periodic benefit expense as of December 31, 2014 and 2013, and the amounts that are expected to be recognized as components in 2015: | |||||||||||||||||||||||||
Regulatory Assets as of | Expected | AOCI as of | Expected | ||||||||||||||||||||||
December 31, | 2015 | December 31, | 2015 | ||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | Expense | 2014 | 2013 | Expense | |||||||||||||||||||
Actuarial Loss | $ | 1,811.90 | $ | 1,137.40 | $ | 149.1 | $ | 93.5 | $ | 43.2 | $ | 6.4 | |||||||||||||
Prior Service Cost | 13.2 | 17.4 | 3.5 | 0.8 | 1 | 0.2 | |||||||||||||||||||
The following is a summary of the changes in plan assets and benefit obligations recognized in Regulatory Assets and OCI as well as amounts in Regulatory Assets and OCI reclassified as net periodic benefit (expense)/income during the years presented: | |||||||||||||||||||||||||
Amounts Reclassified To/From | |||||||||||||||||||||||||
Regulatory Assets | OCI | ||||||||||||||||||||||||
For the Years Ended December 31, | |||||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Actuarial Losses/(Gains) Arising During the Year | $ | 115.1 | $ | -262 | $ | 0.4 | $ | -1.9 | |||||||||||||||||
Actuarial Losses Reclassified as Net Periodic Benefit Expense | -11.6 | -24.9 | -0.6 | -1.1 | |||||||||||||||||||||
Prior Service Credit Reclassified as Net Periodic Benefit Income | 2.8 | 2.1 | - | - | |||||||||||||||||||||
The following is a summary of the remaining Regulatory Assets and Accumulated Other Comprehensive Loss amounts that have not been recognized as components of net periodic benefit expense as of December 31, 2014 and 2013, and the amounts that are expected to be recognized as components in 2015: | |||||||||||||||||||||||||
Regulatory Assets as of | Expected | AOCI as of | Expected | ||||||||||||||||||||||
December 31, | 2015 | December 31, | 2015 | ||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | Expense | 2014 | 2013 | Expense | |||||||||||||||||||
Actuarial Loss | $ | 192.7 | $ | 89.2 | $ | 6.9 | $ | 6 | $ | 6.2 | $ | 0.3 | |||||||||||||
Prior Service Credit | -1.8 | -4.6 | -0.5 | - | - | - | |||||||||||||||||||
Schedule of Assumptions Used [Table Text Block] | Pension and SERP | ||||||||||||||||||||||||
As of December 31, | |||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
Discount Rate | 4.2 | % | 4.85 | % | - | 5.03 | % | ||||||||||||||||||
Compensation/Progression Rate | 3.5 | % | 3.5 | % | - | 4 | % | ||||||||||||||||||
The following actuarial assumptions were used to calculate Pension and SERP expense amounts: | |||||||||||||||||||||||||
Pension and SERP | |||||||||||||||||||||||||
For the Years Ended December 31, | |||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||
Discount Rate | 4.85 | % | - | 5.03 | % | 4.13 | % | - | 4.24 | % | 4.52 | % | - | 5.03 | % | ||||||||||
Expected Long-Term Rate of Return | 8.25% | 8.25% | 7.3 | % | - | 8.25 | % | ||||||||||||||||||
Compensation/Progression Rate | 3.5 | % | - | 4 | % | 3.5 | % | - | 4 | % | 3.5 | % | - | 4 | % | ||||||||||
The following actuarial assumptions were used in calculating the PBOP Plans' year end funded status: | |||||||||||||||||||||||||
PBOP | |||||||||||||||||||||||||
As of December 31, | |||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
Discount Rate | 4.22 | % | 4.78 | % | - | 5.1 | % | ||||||||||||||||||
Health Care Cost Trend Rate | 6.5 | % | 7.00% | ||||||||||||||||||||||
The following actuarial assumptions were used to calculate PBOP expense amounts: | |||||||||||||||||||||||||
PBOP | |||||||||||||||||||||||||
For the Years Ended December 31, | |||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||
Discount Rate | 4.78 | % | - | 5.1 | % | 4.04 | % | - | 4.35 | % | 4.58 | % | - | 4.84 | % | ||||||||||
Expected Long-Term Rate of Return | 8.25% | 8.25% | 7.3 | % | - | 8.25 | % | ||||||||||||||||||
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block] | One Percentage | One Percentage | |||||||||||||||||||||||
(Millions of Dollars) | Point Increase | Point Decrease | |||||||||||||||||||||||
Effect on PBOP Obligation | $ | 111.2 | $ | -88.4 | |||||||||||||||||||||
Effect on Total Service and Interest Cost Components | 5.3 | -4.4 | |||||||||||||||||||||||
Schedule of Expected Benefit Payments [Table Text Block] | Estimated Future Benefit Payments: The following benefit payments, which reflect expected future service, are expected to be paid by the Pension, SERP and PBOP Plans: | ||||||||||||||||||||||||
(Millions of Dollars) | 2015 | 2016 | 2017 | 2018 | 2019 | 2020-2024 | |||||||||||||||||||
Pension and SERP | $ | 244.5 | $ | 253.6 | $ | 268.9 | $ | 273.4 | $ | 285.4 | $ | 1,591.10 | |||||||||||||
PBOP | 58.7 | 59.7 | 60.6 | 61.3 | 62 | 318.8 | |||||||||||||||||||
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block] | Pension and SERP | ||||||||||||||||||||||||
NU | As of December 31, | ||||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | |||||||||||||||||||||||
Change in Benefit Obligation | |||||||||||||||||||||||||
Benefit Obligation as of Beginning of Year | $ | -4,676.50 | $ | -5,022.80 | |||||||||||||||||||||
Service Cost | -79.9 | -102.3 | |||||||||||||||||||||||
Interest Cost | -225.7 | -206.7 | |||||||||||||||||||||||
Actuarial Gain/(Loss) | -739.6 | 433.6 | |||||||||||||||||||||||
Benefits Paid - Pension | 230.3 | 216.6 | |||||||||||||||||||||||
Benefits Paid - SERP | 5.2 | 5.1 | |||||||||||||||||||||||
Benefit Obligation as of End of Year | $ | -5,486.20 | $ | -4,676.50 | |||||||||||||||||||||
Change in Pension Plan Assets | |||||||||||||||||||||||||
Fair Value of Plan Assets as of Beginning of Year | $ | 3,985.90 | $ | 3,411.30 | |||||||||||||||||||||
Employer Contributions | 171.6 | 284.7 | |||||||||||||||||||||||
Actual Return on Plan Assets | 199.3 | 506.5 | |||||||||||||||||||||||
Benefits Paid | -230.3 | -216.6 | |||||||||||||||||||||||
Fair Value of Plan Assets as of End of Year | $ | 4,126.50 | $ | 3,985.90 | |||||||||||||||||||||
Funded Status as of December 31st | $ | -1,359.70 | $ | -690.6 | |||||||||||||||||||||
Pension and SERP | |||||||||||||||||||||||||
As of December 31, 2014 | As of December 31, 2013 | ||||||||||||||||||||||||
NSTAR | NSTAR | ||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | Electric (1) | PSNH | WMECO | |||||||||||||||||
Change in Benefit Obligation | |||||||||||||||||||||||||
Benefit Obligation as of Beginning of Year | $ | -1,083.40 | $ | -1,353.30 | $ | -529 | $ | -223.9 | $ | -1,178.00 | $ | -1,430.00 | $ | -576 | $ | -243.1 | |||||||||
Decrease due to transfer of employees | 26.4 | 479.9 | 32.2 | 6.2 | - | - | - | - | |||||||||||||||||
Service Cost | -20.2 | -13.6 | -9.7 | -3.5 | -24.9 | -33.1 | -13.1 | -4.7 | |||||||||||||||||
Interest Cost | -50.5 | -41.3 | -23.8 | -10.3 | -48.3 | -58 | -23.6 | -10 | |||||||||||||||||
Actuarial Gain/(Loss) | -161 | -107 | -73.3 | -29.8 | 110.7 | 96.6 | 62.4 | 22.4 | |||||||||||||||||
Benefits Paid - Pension | 58.3 | 52.4 | 22.8 | 11.9 | 56.6 | 71.2 | 21.1 | 11.5 | |||||||||||||||||
Benefits Paid - SERP | 0.3 | 0.3 | 0.1 | - | 0.5 | - | 0.2 | - | |||||||||||||||||
Benefit Obligation as of End of Year | $ | -1,230.10 | $ | -982.6 | $ | -580.7 | $ | -249.4 | $ | -1,083.40 | $ | -1,353.30 | $ | -529 | $ | -223.9 | |||||||||
Change in Pension Plan Assets | |||||||||||||||||||||||||
Fair Value of Plan Assets as of Beginning of Year | $ | 1,016.30 | $ | 1,235.30 | $ | 528.6 | $ | 240.4 | $ | 937.6 | $ | 1,069.10 | $ | 386.6 | $ | 218.5 | |||||||||
Decrease due to transfer of employees | -26.4 | -441.4 | -32.2 | -6.2 | - | - | - | - | |||||||||||||||||
Employer Contributions | - | 101 | - | - | - | 82 | 108.3 | - | |||||||||||||||||
Actual Return on Plan Assets | 49.2 | 36.5 | 24.8 | 11.7 | 135.3 | 155.4 | 54.8 | 33.4 | |||||||||||||||||
Benefits Paid | -58.3 | -52.4 | -22.8 | -11.9 | -56.6 | -71.2 | -21.1 | -11.5 | |||||||||||||||||
Fair Value of Plan Assets as of End of Year | $ | 980.8 | $ | 879 | $ | 498.4 | $ | 234 | $ | 1,016.30 | $ | 1,235.30 | $ | 528.6 | $ | 240.4 | |||||||||
Funded Status as of December 31st | $ | -249.3 | $ | -103.6 | $ | -82.3 | $ | -15.4 | $ | -67.1 | $ | -118 | $ | -0.4 | $ | 16.5 | |||||||||
PBOP | |||||||||||||||||||||||||
NU | As of December 31, | ||||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | |||||||||||||||||||||||
Change in Benefit Obligation | |||||||||||||||||||||||||
Benefit Obligation as of Beginning of Year | $ | -1,038.00 | $ | -1,233.30 | |||||||||||||||||||||
Service Cost | -12.5 | -16.9 | |||||||||||||||||||||||
Interest Cost | -49.5 | -47.2 | |||||||||||||||||||||||
Actuarial Gain/(Loss) | -95.5 | 200.9 | |||||||||||||||||||||||
Benefits Paid | 47.6 | 58.5 | |||||||||||||||||||||||
Benefit Obligation as of End of Year | $ | -1,147.90 | $ | -1,038.00 | |||||||||||||||||||||
Change in PBOP Plan Assets | |||||||||||||||||||||||||
Fair Value of Plan Assets as of Beginning of Year | $ | 826.5 | $ | 709.1 | |||||||||||||||||||||
Actual Return on Plan Assets | 43.7 | 118.3 | |||||||||||||||||||||||
Employer Contributions | 40 | 57.6 | |||||||||||||||||||||||
Benefits Paid | -47.6 | -58.5 | |||||||||||||||||||||||
Fair Value of Plan Assets as of End of Year | $ | 862.6 | $ | 826.5 | |||||||||||||||||||||
Funded Status as of December 31st | $ | -285.3 | $ | -211.5 | |||||||||||||||||||||
PBOP | |||||||||||||||||||||||||
As of December 31, | |||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
NSTAR | |||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | PSNH | WMECO | ||||||||||||||||||
Change in Benefit Obligation | |||||||||||||||||||||||||
Benefit Obligation as of Beginning of Year | $ | -180.4 | $ | - | $ | -93.5 | $ | -38.7 | $ | -196.8 | $ | -100.2 | $ | -42.5 | |||||||||||
Decrease/(Increase) due to transfer of employees | 3.7 | -395.5 | 4.3 | 1 | - | - | - | ||||||||||||||||||
Service Cost | -2.2 | -3.1 | -1.3 | -0.4 | -3.4 | -2.3 | -0.7 | ||||||||||||||||||
Interest Cost | -8.1 | -19.4 | -4.3 | -1.7 | -7.9 | -4 | -1.7 | ||||||||||||||||||
Actuarial Gain/(Loss) | 3.5 | -68.6 | -1.1 | 1.3 | 13.3 | 7.2 | 3.3 | ||||||||||||||||||
Benefits Paid | 9.6 | 17.9 | 4.1 | 1.9 | 14.4 | 5.8 | 2.9 | ||||||||||||||||||
Benefit Obligation as of End of Year | $ | -173.9 | $ | -468.7 | $ | -91.8 | $ | -36.6 | $ | -180.4 | $ | -93.5 | $ | -38.7 | |||||||||||
Change in PBOP Plan Assets | |||||||||||||||||||||||||
Fair Value of Plan Assets as of Beginning of Year | $ | 151.3 | $ | - | $ | 81.8 | $ | 35.3 | $ | 132.2 | $ | 69.5 | $ | 31 | |||||||||||
(Decrease)/Increase due to transfer of employees | -3.2 | 316.7 | -3.1 | -1 | - | - | - | ||||||||||||||||||
Actual Return on Plan Assets | 6.3 | 18.4 | 3.8 | 1.6 | 24.8 | 13.4 | 6 | ||||||||||||||||||
Employer Contributions | 4.2 | 19.3 | 2.5 | 0.4 | 8.7 | 4.7 | 1.2 | ||||||||||||||||||
Benefits Paid | -9.6 | -17.9 | -4.1 | -1.9 | -14.4 | -5.8 | -2.9 | ||||||||||||||||||
Fair Value of Plan Assets as of End of Year | $ | 149 | $ | 336.5 | $ | 80.9 | $ | 34.4 | $ | 151.3 | $ | 81.8 | $ | 35.3 | |||||||||||
Funded Status as of December 31st | $ | -24.9 | $ | -132.2 | $ | -10.9 | $ | -2.2 | $ | -29.1 | $ | -11.7 | $ | -3.4 | |||||||||||
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block] | NU Pension Plans | ||||||||||||||||||||||||
Equity | Private | Fixed | Real Estate and | Hedge | |||||||||||||||||||||
(Millions of Dollars) | Securities | Equity | Income | Other Assets | Funds | Total | |||||||||||||||||||
Balance as of January 1, 2013 | $ | 322.7 | $ | 267.9 | $ | 315.1 | $ | 235.4 | $ | 418.9 | $ | 1,560.00 | |||||||||||||
Transfer Between Categories | - | - | 32.5 | - | -32.5 | - | |||||||||||||||||||
Actual Return/(Loss) on Plan Assets: | |||||||||||||||||||||||||
Relating to Assets Still Held as of Year End | 20.6 | 15.4 | 55.3 | 12.9 | 33.4 | 137.6 | |||||||||||||||||||
Relating to Assets Distributed During the Year | 12.2 | 13.7 | -1 | 6.2 | - | 31.1 | |||||||||||||||||||
Purchases, Sales and Settlements | -100 | 3.3 | 187.6 | 34 | -2.9 | 122 | |||||||||||||||||||
Balance as of December 31, 2013 | $ | 255.5 | $ | 300.3 | $ | 589.5 | $ | 288.5 | $ | 416.9 | $ | 1,850.70 | |||||||||||||
Actual Return/(Loss) on Plan Assets: | |||||||||||||||||||||||||
Relating to Assets Still Held as of Year End | -2.3 | 14 | 45.2 | -3.6 | 23.5 | 76.8 | |||||||||||||||||||
Relating to Assets Distributed During the Year | - | 13.9 | -6.2 | 28.3 | -15.2 | 20.8 | |||||||||||||||||||
Purchases, Sales and Settlements | 39 | 39.7 | 93.5 | -47.4 | 49.8 | 174.6 | |||||||||||||||||||
Balance as of December 31, 2014 | $ | 292.2 | $ | 367.9 | $ | 722 | $ | 265.8 | $ | 475 | $ | 2,122.90 | |||||||||||||
NU PBOP Plans | |||||||||||||||||||||||||
Equity | Private | Fixed | Real Estate and | Hedge | |||||||||||||||||||||
(Millions of Dollars) | Securities | Equity | Income | Other Assets | Funds | Total | |||||||||||||||||||
Balance as of January 1, 2013 | $ | 36.3 | $ | 11.3 | $ | 32.1 | $ | 26.7 | $ | 39.6 | $ | 146 | |||||||||||||
Actual Return/(Loss) on Plan Assets: | |||||||||||||||||||||||||
Relating to Assets Still Held as of Year End | 20.8 | 1.5 | 4.1 | 3.9 | 5.4 | 35.7 | |||||||||||||||||||
Relating to Assets Distributed During the Year | - | 0.2 | - | -0.1 | - | 0.1 | |||||||||||||||||||
Purchases, Sales and Settlements | 12 | 4.9 | 15.3 | 3.4 | 12 | 47.6 | |||||||||||||||||||
Balance as of December 31, 2013 | $ | 69.1 | $ | 17.9 | $ | 51.5 | $ | 33.9 | $ | 57 | $ | 229.4 | |||||||||||||
Actual Return/(Loss) on Plan Assets: | |||||||||||||||||||||||||
Relating to Assets Still Held as of Year End | 6 | 1.3 | 1.9 | -2.8 | 1.4 | 7.8 | |||||||||||||||||||
Relating to Assets Distributed During the Year | - | 0.1 | - | -2.2 | - | -2.1 | |||||||||||||||||||
Purchases, Sales and Settlements | - | 5.6 | 24.9 | -13.9 | - | 16.6 | |||||||||||||||||||
Balance as of December 31, 2014 | $ | 75.1 | $ | 24.9 | $ | 78.3 | $ | 15 | $ | 58.4 | $ | 251.7 | |||||||||||||
Schedule of Allocation of Plan Assets [Table Text Block] | As of December 31, 2014 and 2013 | ||||||||||||||||||||||||
Pension and Tax-Exempt PBOP Plans | |||||||||||||||||||||||||
Target Asset Allocation | Assumed Rate of Return | ||||||||||||||||||||||||
Equity Securities: | |||||||||||||||||||||||||
United States | 24% | 9% | |||||||||||||||||||||||
International | 10% | 9% | |||||||||||||||||||||||
Emerging Markets | 6% | 10% | |||||||||||||||||||||||
Private Equity | 10% | 13% | |||||||||||||||||||||||
Debt Securities: | |||||||||||||||||||||||||
Fixed Income | 15% | 5% | |||||||||||||||||||||||
High Yield Fixed Income | 9% | 7.50% | |||||||||||||||||||||||
Emerging Markets Debt | 6% | 7.50% | |||||||||||||||||||||||
Real Estate and Other Assets | 9% | 7.50% | |||||||||||||||||||||||
Hedge Funds | 11% | 7% | |||||||||||||||||||||||
NU Pension Plans | |||||||||||||||||||||||||
Fair Value Measurements as of December 31, | |||||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | |||||||||||||||||||||||
Asset Category: | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
Equity Securities (1) | $ | 414.7 | $ | 1,035.00 | $ | 292.2 | $ | 1,741.90 | $ | 326.8 | $ | 1,172.10 | $ | 255.5 | $ | 1,754.40 | |||||||||
Private Equity | 18.8 | - | 367.9 | 386.7 | 96.4 | - | 300.3 | 396.7 | |||||||||||||||||
Fixed Income (2) | 10.2 | 561.4 | 722 | 1,293.60 | 11.6 | 605.1 | 589.5 | 1,206.20 | |||||||||||||||||
Real Estate and Other Assets | - | 132 | 265.8 | 397.8 | - | 88.2 | 288.5 | 376.7 | |||||||||||||||||
Hedge Funds | - | 20 | 475 | 495 | - | - | 416.9 | 416.9 | |||||||||||||||||
Total Master Trust Assets | $ | 443.7 | $ | 1,748.40 | $ | 2,122.90 | $ | 4,315.00 | $ | 434.8 | $ | 1,865.40 | $ | 1,850.70 | $ | 4,150.90 | |||||||||
Less: 401(h) PBOP Assets (3) | -188.5 | -165 | |||||||||||||||||||||||
Total Pension Assets | $ | 4,126.50 | $ | 3,985.90 | |||||||||||||||||||||
NU PBOP Plans | |||||||||||||||||||||||||
Fair Value Measurements as of December 31, | |||||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | |||||||||||||||||||||||
Asset Category: | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
Cash and Cash Equivalents | $ | - | $ | - | $ | - | $ | - | $ | 11.1 | $ | - | $ | - | $ | 11.1 | |||||||||
Equity Securities (1) | 104.1 | 172.8 | 75.1 | 352 | 110.3 | 176.8 | 69.1 | 356.2 | |||||||||||||||||
Private Equity | - | - | 24.9 | 24.9 | - | - | 17.9 | 17.9 | |||||||||||||||||
Fixed Income (2) | 16.1 | 110 | 78.3 | 204.4 | - | 119.7 | 51.5 | 171.2 | |||||||||||||||||
Real Estate and Other Assets | 19.4 | 15 | 34.4 | - | 14.2 | 33.9 | 48.1 | ||||||||||||||||||
Hedge Funds | - | 58.4 | 58.4 | - | - | 57 | 57 | ||||||||||||||||||
Total | $ | 120.2 | $ | 302.2 | $ | 251.7 | $ | 674.1 | $ | 121.4 | $ | 310.7 | $ | 229.4 | $ | 661.5 | |||||||||
Add: 401(h) PBOP Assets (3) | 188.5 | 165 | |||||||||||||||||||||||
Total PBOP Assets | $ | 862.6 | $ | 826.5 |
DEFINED_CONTRIBUTION_PLANS_TAB
DEFINED CONTRIBUTION PLANS (TABLES) | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||||||
Schedule Of Defined Contribution Plans 401k [Table Text Block] | NSTAR | ||||||||||||||
(Millions of Dollars) | NU (1) | CL&P | Electric | PSNH | WMECO | ||||||||||
2014 | $ | 29.7 | $ | 5 | $ | 6.3 | $ | 3.2 | $ | 1 | |||||
2013 | 37 | 5.1 | 8.5 | 3.3 | 1 | ||||||||||
2012 | 25.7 | 4.8 | 9 | 3.3 | 0.9 |
ShareBased_Payments_Tables
Share-Based Payments (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | Weighted Average | ||||||||||||||||||||||||||||||||||||
RSUs | Grant-Date | ||||||||||||||||||||||||||||||||||||
(Units) | Fair Value | ||||||||||||||||||||||||||||||||||||
Outstanding as of January 1, 2012 | 959,920 | $ | 26.36 | ||||||||||||||||||||||||||||||||||
Granted | 614,930 | $ | 33.04 | ||||||||||||||||||||||||||||||||||
Converted NSTAR Awards upon Merger | 617,394 | $ | 36.79 | ||||||||||||||||||||||||||||||||||
Converted from NU Performance Shares upon Merger | 451,358 | $ | 34.32 | ||||||||||||||||||||||||||||||||||
Shares issued | -363,779 | $ | 29.05 | ||||||||||||||||||||||||||||||||||
Forfeited | -96,504 | $ | 34.97 | ||||||||||||||||||||||||||||||||||
Outstanding as of December 31, 2012 | 2,183,319 | $ | 31.99 | ||||||||||||||||||||||||||||||||||
Granted | 373,939 | $ | 39.56 | ||||||||||||||||||||||||||||||||||
Shares issued | -891,129 | $ | 32.15 | ||||||||||||||||||||||||||||||||||
Forfeited | -29,689 | $ | 33.75 | ||||||||||||||||||||||||||||||||||
Outstanding as of December 31, 2013 | 1,636,440 | $ | 33.61 | ||||||||||||||||||||||||||||||||||
Granted | 338,576 | $ | 42.27 | ||||||||||||||||||||||||||||||||||
Shares issued | -567,209 | $ | 33.48 | ||||||||||||||||||||||||||||||||||
Forfeited | -27,060 | $ | 39.62 | ||||||||||||||||||||||||||||||||||
Outstanding as of December 31, 2014 | 1,380,747 | $ | 35.67 | ||||||||||||||||||||||||||||||||||
Performance | Weighted Average | ||||||||||||||||||||||||||||||||||||
Shares | Grant-Date | ||||||||||||||||||||||||||||||||||||
(Units) | Fair Value | ||||||||||||||||||||||||||||||||||||
Outstanding as of January 1, 2012 | 483,133 | $ | 29.18 | ||||||||||||||||||||||||||||||||||
Granted | 225,935 | $ | 35.09 | ||||||||||||||||||||||||||||||||||
Converted to RSUs upon Merger | -451,358 | $ | 34.32 | ||||||||||||||||||||||||||||||||||
Shares issued | -106,773 | $ | 24.52 | ||||||||||||||||||||||||||||||||||
Outstanding as of December 31, 2012 | 150,937 | $ | 25.04 | ||||||||||||||||||||||||||||||||||
Granted | 191,961 | $ | 40.96 | ||||||||||||||||||||||||||||||||||
Shares issued | -150,944 | $ | 25.04 | ||||||||||||||||||||||||||||||||||
Forfeited | -1,526 | $ | 40.93 | ||||||||||||||||||||||||||||||||||
Outstanding as of December 31, 2013 | 190,428 | $ | 40.96 | ||||||||||||||||||||||||||||||||||
Granted | 193,396 | $ | 43.4 | ||||||||||||||||||||||||||||||||||
Shares issued | -2,009 | $ | 41.46 | ||||||||||||||||||||||||||||||||||
Forfeited | -6,171 | $ | 42.02 | ||||||||||||||||||||||||||||||||||
Outstanding as of December 31, 2014 | 375,644 | $ | 42.2 | ||||||||||||||||||||||||||||||||||
NU | For the Years Ended December 31, | ||||||||||||||||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | 2012 (1) | ||||||||||||||||||||||||||||||||||
Compensation Expense | $ | 24.6 | $ | 27 | $ | 25.8 | |||||||||||||||||||||||||||||||
Future Income Tax Benefit | 10.3 | 10.7 | 10.2 | ||||||||||||||||||||||||||||||||||
For the Years Ended December 31, | |||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||
NSTAR | NSTAR | NSTAR | |||||||||||||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | |||||||||||||||||||||||||
Compensation Expense | $ | 8.1 | $ | 7.4 | $ | 3 | $ | 1.3 | $ | 6.8 | $ | 7.5 | $ | 2.3 | $ | 1.3 | $ | 4.8 | $ | 7.4 | $ | 1.8 | $ | 1 | |||||||||||||
Future Income Tax Benefit | 3.4 | 3.1 | 1.3 | 0.5 | 2.7 | 3 | 0.9 | 0.5 | 1.9 | 2.9 | 0.7 | 0.4 | |||||||||||||||||||||||||
Weighted Average | Intrinsic Value | ||||||||||||||||||||||||||||||||||||
Options | Exercise Price | (Millions) | |||||||||||||||||||||||||||||||||||
Outstanding and Exercisable - January 1, 2012 | 47,374 | $ | 18.78 | ||||||||||||||||||||||||||||||||||
Converted NSTAR Options upon Merger | 2,664,894 | $ | 23.99 | ||||||||||||||||||||||||||||||||||
Exercised | -1,166,511 | $ | 22.53 | $ | 18.7 | ||||||||||||||||||||||||||||||||
Outstanding and Exercisable - December 31, 2012 | 1,545,757 | $ | 24.92 | ||||||||||||||||||||||||||||||||||
Exercised | -324,382 | $ | 20.97 | $ | 6.7 | ||||||||||||||||||||||||||||||||
Outstanding and Exercisable - December 31, 2013 | 1,221,375 | $ | 25.97 | ||||||||||||||||||||||||||||||||||
Exercised | -869,759 | $ | 25.68 | $ | 16.4 | ||||||||||||||||||||||||||||||||
Outstanding and Exercisable - December 31, 2014 | 351,616 | $ | 26.69 | $ | 9.4 |
Other_Retirement_Benefits_Tabl
Other Retirement Benefits (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ||||||||||||||||||||||||||||||||
Schedule of Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits by Title of Individual and Type of Deferred Compensation [Table Text Block] | ||||||||||||||||||||||||||||||||
NU | For the Years Ended December 31, | |||||||||||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | 2012 | |||||||||||||||||||||||||||||
Actuarially-Determined Liability | $ | 57.5 | $ | 51.3 | $ | 54.6 | ||||||||||||||||||||||||||
Other Retirement Benefits Expense | 4.5 | 4.4 | 4.7 | |||||||||||||||||||||||||||||
For the Years Ended December 31, | ||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||
(Millions of Dollars) | CL&P | NSTAR Electric | PSNH | WMECO | CL&P | PSNH | WMECO | CL&P | PSNH | WMECO | ||||||||||||||||||||||
Actuarially-Determined Liability | $ | 0.4 | $ | - | $ | 2.6 | $ | 0.2 | $ | 0.4 | $ | 2.3 | $ | 0.1 | $ | 0.4 | $ | 2.5 | $ | 0.2 | ||||||||||||
Other Retirement Benefits Expense | 2.1 | 0.3 | 0.9 | 0.4 | 2.5 | 1 | 0.5 | 2.6 | 1 | 0.5 |
INCOME_TAXES_Tables
INCOME TAXES (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | NU | For the Years Ended December 31, | |||||||||||||||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | 2012 (1) | ||||||||||||||||||||||||||||||||||
Current Income Taxes: | |||||||||||||||||||||||||||||||||||||
Federal | $ | 4.4 | $ | 8.8 | $ | -30.9 | |||||||||||||||||||||||||||||||
State | 24.5 | -9.4 | 17.6 | ||||||||||||||||||||||||||||||||||
Total Current | 28.9 | -0.6 | -13.3 | ||||||||||||||||||||||||||||||||||
Deferred Income Taxes, Net: | |||||||||||||||||||||||||||||||||||||
Federal | 406.8 | 386.2 | 291.3 | ||||||||||||||||||||||||||||||||||
State | 36.5 | 45.4 | 0.8 | ||||||||||||||||||||||||||||||||||
Total Deferred | 443.3 | 431.6 | 292.1 | ||||||||||||||||||||||||||||||||||
Investment Tax Credits, Net | -3.9 | -4.1 | -3.9 | ||||||||||||||||||||||||||||||||||
Income Tax Expense | $ | 468.3 | $ | 426.9 | $ | 274.9 | |||||||||||||||||||||||||||||||
(1) NSTAR amounts were included in NU beginning April 10, 2012. | |||||||||||||||||||||||||||||||||||||
For the Years Ended December 31, | |||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||
NSTAR | NSTAR | NSTAR | |||||||||||||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | |||||||||||||||||||||||||
Current Income Taxes: | |||||||||||||||||||||||||||||||||||||
Federal | $ | -0.2 | $ | 75 | $ | -22.6 | $ | 1.9 | $ | 20.1 | $ | 95.8 | $ | -8.2 | $ | -53.4 | $ | -47.8 | $ | 93.5 | $ | -0.9 | $ | -24.7 | |||||||||||||
State | 4.3 | 20.2 | -0.1 | 1.8 | -6.7 | 29.6 | 3.6 | 4.2 | 3.1 | 27.6 | 3.4 | 3.4 | |||||||||||||||||||||||||
Total Current | 4.1 | 95.2 | -22.7 | 3.7 | 13.4 | 125.4 | -4.6 | -49.2 | -44.7 | 121.1 | 2.5 | -21.3 | |||||||||||||||||||||||||
Deferred Income Taxes, Net: | |||||||||||||||||||||||||||||||||||||
Federal | 138 | 88 | 79.6 | 28.1 | 114.9 | 49.8 | 64.5 | 84.7 | 141.5 | 11.4 | 46.5 | 51.2 | |||||||||||||||||||||||||
State | -7.1 | 20.1 | 15.2 | 6 | 15.1 | -1 | 11.2 | 2.3 | -0.5 | -7.1 | 12 | 2.7 | |||||||||||||||||||||||||
Total Deferred | 130.9 | 108.1 | 94.8 | 34.1 | 130 | 48.8 | 75.7 | 87 | 141 | 4.3 | 58.5 | 53.9 | |||||||||||||||||||||||||
Investment Tax Credits, Net | -1.5 | -1.3 | - | -0.5 | -1.7 | -1.3 | - | -0.4 | -1.9 | -1.4 | - | -0.5 | |||||||||||||||||||||||||
Income Tax Expense | $ | 133.5 | $ | 202 | $ | 72.1 | $ | 37.3 | $ | 141.7 | $ | 172.9 | $ | 71.1 | $ | 37.4 | $ | 94.4 | $ | 124 | $ | 61 | $ | 32.1 | |||||||||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | A reconciliation between income tax expense and the expected tax expense at the statutory rate is as follows: | ||||||||||||||||||||||||||||||||||||
NU | For the Years Ended December 31, | ||||||||||||||||||||||||||||||||||||
(Millions of Dollars, except percentages) | 2014 | 2013 | 2012 (1) | ||||||||||||||||||||||||||||||||||
Income Before Income Tax Expense | $ | 1,295.40 | $ | 1,220.60 | $ | 808 | |||||||||||||||||||||||||||||||
Statutory Federal Income Tax Expense at 35% | 453.4 | 427.2 | 282.8 | ||||||||||||||||||||||||||||||||||
Tax Effect of Differences: | |||||||||||||||||||||||||||||||||||||
Depreciation | -5.6 | -7.4 | -10.8 | ||||||||||||||||||||||||||||||||||
Investment Tax Credit Amortization | -3.9 | -4.1 | -3.9 | ||||||||||||||||||||||||||||||||||
Other Federal Tax Credits | -3.5 | -3.7 | -3.8 | ||||||||||||||||||||||||||||||||||
State Income Taxes, Net of Federal Impact | 42.5 | 27.6 | 4.4 | ||||||||||||||||||||||||||||||||||
Dividends on ESOP | -8 | -8 | -6.4 | ||||||||||||||||||||||||||||||||||
Tax Asset Valuation Allowance/Reserve Adjustments | -2.9 | -4.3 | 7.6 | ||||||||||||||||||||||||||||||||||
Other, Net | -3.7 | -0.4 | 5 | ||||||||||||||||||||||||||||||||||
Income Tax Expense | $ | 468.3 | $ | 426.9 | $ | 274.9 | |||||||||||||||||||||||||||||||
Effective Tax Rate | 36.20% | 35.00% | 34.00% | ||||||||||||||||||||||||||||||||||
(1) NSTAR amounts were included in NU beginning April 10, 2012. | |||||||||||||||||||||||||||||||||||||
For the Years Ended December 31, | |||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||
(Millions of Dollars, | NSTAR | NSTAR | NSTAR | ||||||||||||||||||||||||||||||||||
except percentages) | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | |||||||||||||||||||||||||
Income Before Income Tax Expense | $ | 421.2 | $ | 505.1 | $ | 186.1 | $ | 95.1 | $ | 421.1 | $ | 441.4 | $ | 182.5 | $ | 97.8 | $ | 304.2 | $ | 314.2 | $ | 157.9 | $ | 86.6 | |||||||||||||
Statutory Federal Income Tax Expense at 35% | 147.4 | 176.8 | 65.1 | 33.3 | 147.4 | 154.5 | 63.9 | 34.2 | 106.5 | 110 | 55.3 | 30.3 | |||||||||||||||||||||||||
Tax Effect of Differences: | |||||||||||||||||||||||||||||||||||||
Depreciation | -3.6 | -1.3 | 0.3 | -0.2 | -7 | 0.1 | 0.6 | - | -9 | - | -0.3 | 0.2 | |||||||||||||||||||||||||
Investment Tax Credit Amortization | -1.5 | -1.3 | - | -0.5 | -1.7 | -1.3 | - | -0.4 | -1.9 | -1.4 | - | -0.5 | |||||||||||||||||||||||||
Other Federal Tax Credits | - | - | -3.5 | - | - | - | -3.7 | - | - | - | -3.8 | - | |||||||||||||||||||||||||
State Income Taxes, Net of Federal Impact | 4.4 | 26.2 | 9.8 | 5 | 5 | 18.6 | 9.6 | 4.2 | 0.1 | 13.4 | 10 | 4 | |||||||||||||||||||||||||
Tax Asset Valuation Allowance/ Reserve Adjustments | -6.3 | - | - | - | 0.4 | - | - | - | 1.6 | - | - | - | |||||||||||||||||||||||||
Other, Net | -6.9 | 1.6 | 0.4 | -0.3 | -2.4 | 1 | 0.7 | -0.6 | -2.9 | 2 | -0.2 | -1.9 | |||||||||||||||||||||||||
Income Tax Expense | $ | 133.5 | $ | 202 | $ | 72.1 | $ | 37.3 | $ | 141.7 | $ | 172.9 | $ | 71.1 | $ | 37.4 | $ | 94.4 | $ | 124 | $ | 61 | $ | 32.1 | |||||||||||||
Effective Tax Rate | 31.70% | 40.00% | 38.70% | 39.20% | 33.60% | 39.20% | 39.00% | 38.20% | 31.00% | 39.50% | 38.60% | 37.10% | |||||||||||||||||||||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | NU | As of December 31, | |||||||||||||||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | |||||||||||||||||||||||||||||||||||
Deferred Tax Assets: | |||||||||||||||||||||||||||||||||||||
Employee Benefits | $ | 632.2 | $ | 435.2 | |||||||||||||||||||||||||||||||||
Derivative Liabilities | 199.6 | 272.9 | |||||||||||||||||||||||||||||||||||
Regulatory Deferrals - Liabilities | 366.7 | 272.7 | |||||||||||||||||||||||||||||||||||
Allowance for Uncollectible Accounts | 60.5 | 65 | |||||||||||||||||||||||||||||||||||
Tax Effect - Tax Regulatory Liabilities | 10 | 16.2 | |||||||||||||||||||||||||||||||||||
Federal Net Operating Loss Carryforwards | 59.1 | 158 | |||||||||||||||||||||||||||||||||||
Purchase Accounting Adjustment | 126.2 | 132.8 | |||||||||||||||||||||||||||||||||||
Other | 198.7 | 230.6 | |||||||||||||||||||||||||||||||||||
Total Deferred Tax Assets | 1,653.00 | 1,583.40 | |||||||||||||||||||||||||||||||||||
Less: Valuation Allowance | 5.1 | 24.3 | |||||||||||||||||||||||||||||||||||
Net Deferred Tax Assets | $ | 1,647.90 | $ | 1,559.10 | |||||||||||||||||||||||||||||||||
Deferred Tax Liabilities: | |||||||||||||||||||||||||||||||||||||
Accelerated Depreciation and Other Plant-Related Differences | $ | 4,215.90 | $ | 3,806.50 | |||||||||||||||||||||||||||||||||
Property Tax Accruals | 109.6 | 95.1 | |||||||||||||||||||||||||||||||||||
Regulatory Amounts: | |||||||||||||||||||||||||||||||||||||
Regulatory Deferrals - Assets | 1,277.90 | 1,146.70 | |||||||||||||||||||||||||||||||||||
Tax Effect - Tax Regulatory Assets | 240.2 | 248.2 | |||||||||||||||||||||||||||||||||||
Goodwill Regulatory Asset - 1999 Merger | 203.2 | 211.5 | |||||||||||||||||||||||||||||||||||
Derivative Assets | 32.6 | 30.1 | |||||||||||||||||||||||||||||||||||
Other | 196.3 | 157.1 | |||||||||||||||||||||||||||||||||||
Total Deferred Tax Liabilities | $ | 6,275.70 | $ | 5,695.20 | |||||||||||||||||||||||||||||||||
As of December 31, | |||||||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||||||
NSTAR | NSTAR | ||||||||||||||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | |||||||||||||||||||||||||||||
Deferred Tax Assets: | |||||||||||||||||||||||||||||||||||||
Employee Benefits | $ | 129 | $ | 39.9 | $ | 46.8 | $ | 9.2 | $ | 56 | $ | 38.3 | $ | 15.5 | $ | -1.8 | |||||||||||||||||||||
Derivative Liabilities | 193 | 1.8 | - | - | 272.4 | 3.3 | - | -2.9 | |||||||||||||||||||||||||||||
Regulatory Deferrals - Liabilities | 73.9 | 181.3 | 46.5 | 11.4 | 61.5 | 114.7 | 40.9 | 1 | |||||||||||||||||||||||||||||
Allowance for Uncollectible Accounts | 32.3 | 13.8 | 3.2 | 3.8 | 31.2 | 15.4 | 3.1 | 3.3 | |||||||||||||||||||||||||||||
Tax Effect - Tax Regulatory Liabilities | 3.1 | 1.8 | 2.1 | 2.5 | 4.7 | 5.4 | 2.1 | 1.6 | |||||||||||||||||||||||||||||
Federal Net Operating Loss Carryforwards | - | - | 32.1 | 4.5 | 51 | - | 56.6 | 18.6 | |||||||||||||||||||||||||||||
Other | 53.8 | 19.9 | 48.9 | 4.9 | 75.3 | 31.3 | 40.3 | 8.3 | |||||||||||||||||||||||||||||
Total Deferred Tax Assets | 485.1 | 258.5 | 179.6 | 36.3 | 552.1 | 208.4 | 158.5 | 28.1 | |||||||||||||||||||||||||||||
Less: Valuation Allowance | 4 | - | - | - | 23.1 | - | - | - | |||||||||||||||||||||||||||||
Net Deferred Tax Assets | $ | 481.1 | $ | 258.5 | $ | 179.6 | $ | 36.3 | $ | 529 | $ | 208.4 | $ | 158.5 | $ | 28.1 | |||||||||||||||||||||
Deferred Tax Liabilities: | |||||||||||||||||||||||||||||||||||||
Accelerated Depreciation and Other Plant-Related Differences | $ | 1,378.60 | $ | 1,296.90 | $ | 596.6 | $ | 385.8 | $ | 1,238.10 | $ | 1,179.40 | $ | 526.6 | $ | 361.1 | |||||||||||||||||||||
Property Tax Accruals | 58.1 | 25 | 7.4 | 12.8 | 49.3 | 25.3 | 7.1 | 5.9 | |||||||||||||||||||||||||||||
Regulatory Amounts: | |||||||||||||||||||||||||||||||||||||
Regulatory Deferrals - Assets | 502.3 | 276 | 147.6 | 60.4 | 550.4 | 276.2 | 109.3 | 49.3 | |||||||||||||||||||||||||||||
Tax Effect - Tax Regulatory Assets | 166.9 | 35.5 | 15.9 | 9.3 | 160.1 | 36 | 16.3 | 18.2 | |||||||||||||||||||||||||||||
Goodwill Regulatory Asset - 1999 Merger | - | 174.4 | - | - | - | 181.6 | - | - | |||||||||||||||||||||||||||||
Derivative Assets | 32.6 | - | - | - | 29 | 0.5 | - | - | |||||||||||||||||||||||||||||
Other | 19.4 | 33.5 | 35.6 | 2.8 | 20.6 | 26.4 | 28 | 3.6 | |||||||||||||||||||||||||||||
Total Deferred Tax Liabilities | $ | 2,157.90 | $ | 1,841.30 | $ | 803.1 | $ | 471.1 | $ | 2,047.50 | $ | 1,725.40 | $ | 687.3 | $ | 438.1 | |||||||||||||||||||||
Summary of Operating Loss Carryforwards [Table Text Block] | Carryforwards: The following tables provide the amounts and expiration dates of state tax credit and loss carryforwards and federal tax credit and net operating loss carryforwards: | ||||||||||||||||||||||||||||||||||||
As of December 31, 2014 | |||||||||||||||||||||||||||||||||||||
NSTAR | |||||||||||||||||||||||||||||||||||||
(Millions of Dollars) | NU | CL&P | Electric | PSNH | WMECO | Expiration Range | |||||||||||||||||||||||||||||||
Federal Net Operating Loss | $ | 168.8 | $ | - | $ | - | $ | 91.8 | $ | 12.7 | 2031 - 2032 | ||||||||||||||||||||||||||
Federal Tax Credit | 16.3 | 0.1 | 0.2 | 11.1 | - | 2031 - 2034 | |||||||||||||||||||||||||||||||
Federal Charitable Contribution | 19.4 | - | - | - | - | 2016 - 2018 | |||||||||||||||||||||||||||||||
State Tax Credit | 99.7 | 71 | - | - | - | 2014 - 2019 | |||||||||||||||||||||||||||||||
State Loss Carryforwards | 40.6 | - | - | - | - | 2014 - 2034 | |||||||||||||||||||||||||||||||
State Charitable Contribution | 2.1 | - | - | - | - | 2015 - 2018 | |||||||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||||||||||
NSTAR | |||||||||||||||||||||||||||||||||||||
(Millions of Dollars) | NU | CL&P | Electric | PSNH | WMECO | Expiration Range | |||||||||||||||||||||||||||||||
Federal Net Operating Loss | $ | 451.3 | $ | 145.8 | $ | - | $ | 161.8 | $ | 53.3 | 2031 - 2032 | ||||||||||||||||||||||||||
Federal Tax Credit | 8 | - | - | 7.6 | - | 2031 - 2033 | |||||||||||||||||||||||||||||||
Federal Charitable Contribution | 33.7 | - | - | - | - | 2015 - 2017 | |||||||||||||||||||||||||||||||
State Tax Credit | 104.7 | 86.8 | - | - | - | 2013 - 2018 | |||||||||||||||||||||||||||||||
State Loss Carryforwards | 12.1 | - | - | - | - | 2013 - 2015 | |||||||||||||||||||||||||||||||
State Charitable Contribution | 1 | - | - | - | - | 2015 | |||||||||||||||||||||||||||||||
Summary of Income Tax Contingencies [Table Text Block] | (Millions of Dollars) | NU | CL&P | ||||||||||||||||||||||||||||||||||
Balance as of January 1, 2012 | $ | 73.5 | $ | 46.5 | |||||||||||||||||||||||||||||||||
Gross Increases - Current Year | 10.3 | 2.5 | |||||||||||||||||||||||||||||||||||
Gross Increases - Prior Year | 0.1 | - | |||||||||||||||||||||||||||||||||||
Gross Decreases - Prior Year | -0.8 | - | |||||||||||||||||||||||||||||||||||
Balance as of December 31, 2012 | 83.1 | 49 | |||||||||||||||||||||||||||||||||||
Gross Increases - Current Year | 8.2 | 2.1 | |||||||||||||||||||||||||||||||||||
Gross Decreases - Prior Year | -1.1 | -0.3 | |||||||||||||||||||||||||||||||||||
Settlements | -49.8 | -39.4 | |||||||||||||||||||||||||||||||||||
Lapse of Statute of Limitations | -2.2 | - | |||||||||||||||||||||||||||||||||||
Balance as of December 31, 2013 | 38.2 | 11.4 | |||||||||||||||||||||||||||||||||||
Gross Increases - Current Year | 9.3 | 2.7 | |||||||||||||||||||||||||||||||||||
Gross Increases - Prior Year | 0.3 | 0.2 | |||||||||||||||||||||||||||||||||||
Lapse of Statute of Limitations | -1.6 | - | |||||||||||||||||||||||||||||||||||
Balance as of December 31, 2014 | $ | 46.2 | $ | 14.3 | |||||||||||||||||||||||||||||||||
Other Interest | For the Years Ended December 31, | Accrued Interest | As of December 31, | ||||||||||||||||||||||||||||||||||
Expense/(Income) | 2014 | 2013 | 2012 | Expense | 2014 | 2013 | |||||||||||||||||||||||||||||||
(Millions of Dollars) | (Millions of Dollars) | ||||||||||||||||||||||||||||||||||||
NU (1) | $ | 0.4 | $ | -8.6 | $ | 3.1 | NU | $ | 1.9 | $ | 1.5 | ||||||||||||||||||||||||||
CL&P | - | -4 | 1.3 | CL&P | - | - |
Environmental_Matters_Tables
Environmental Matters (Tables) | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||||||
Schedule Of Environmental Loss Contingencies By Site Text Block | (Millions of Dollars) | NU | CL&P | NSTAR Electric | PSNH | WMECO | |||||||||
Balance as of January 1, 2013 | $ | 39.4 | $ | 3.7 | $ | 1.7 | $ | 4.9 | $ | 0.6 | |||||
Additions | 3.5 | 0.2 | 0.2 | 1 | - | ||||||||||
Payments/Reductions | -7.5 | -0.5 | -0.7 | -0.5 | -0.2 | ||||||||||
Balance as of December 31, 2013 | 35.4 | 3.4 | 1.2 | 5.4 | 0.4 | ||||||||||
Additions | 12.7 | 1 | - | 0.1 | 0.2 | ||||||||||
Payments/Reductions | -4.8 | -0.6 | -0.1 | -0.3 | -0.1 | ||||||||||
Balance as of December 31, 2014 | $ | 43.3 | $ | 3.8 | $ | 1.1 | $ | 5.2 | $ | 0.5 | |||||
As of December 31, 2014 | As of December 31, 2013 | ||||||||||||||
Reserve | Reserve | ||||||||||||||
Number of Sites | (in millions) | Number of Sites | (in millions) | ||||||||||||
NU | 65 | $ | 43.3 | 68 | $ | 35.4 | |||||||||
CL&P | 16 | 3.8 | 18 | 3.4 | |||||||||||
NSTAR Electric | 13 | 1.1 | 12 | 1.2 | |||||||||||
PSNH | 13 | 5.2 | 15 | 5.4 | |||||||||||
WMECO | 4 | 0.5 | 5 | 0.4 |
LongTerm_Contractual_Arrangeme
Long-Term Contractual Arrangements (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||
Long-term Purchase Commitment [Table Text Block] | B. | Long-Term Contractual Arrangements | |||||||||||||||||||||||||||||||||||
Estimated Future Annual Costs: The estimated future annual costs of significant long-term contractual arrangements as of December 31, 2014 are as follows: | |||||||||||||||||||||||||||||||||||||
NU | |||||||||||||||||||||||||||||||||||||
(Millions of Dollars) | 2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | ||||||||||||||||||||||||||||||
Supply and Stranded Cost | $ | 196.6 | $ | 169.2 | $ | 101.9 | $ | 65.3 | $ | 38.1 | $ | 82.4 | $ | 653.5 | |||||||||||||||||||||||
Renewable Energy | 204.3 | 240.5 | 239.6 | 204.2 | 202.9 | 1,994.60 | 3,086.10 | ||||||||||||||||||||||||||||||
Peaker CfDs | 26.3 | 25.4 | 10.5 | - | - | - | 62.2 | ||||||||||||||||||||||||||||||
Natural Gas Procurement | 133.7 | 116.3 | 45.6 | 31.9 | 25.8 | 85.1 | 438.4 | ||||||||||||||||||||||||||||||
Coal, Wood and Other | 99 | 25.2 | 5 | 5 | 1.9 | 15 | 151.1 | ||||||||||||||||||||||||||||||
Transmission Support Commitments | 25.9 | 21.6 | 19 | 21.2 | 21.3 | 21.3 | 130.3 | ||||||||||||||||||||||||||||||
Total | $ | 685.8 | $ | 598.2 | $ | 421.6 | $ | 327.6 | $ | 290 | $ | 2,198.40 | $ | 4,521.60 | |||||||||||||||||||||||
CL&P | |||||||||||||||||||||||||||||||||||||
(Millions of Dollars) | 2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | ||||||||||||||||||||||||||||||
Supply and Stranded Cost | $ | 134.3 | $ | 136.8 | $ | 79 | $ | 42 | $ | 25 | $ | 43.6 | $ | 460.7 | |||||||||||||||||||||||
Renewable Energy | 61.2 | 70.3 | 71.3 | 72.1 | 72.1 | 715.9 | 1,062.90 | ||||||||||||||||||||||||||||||
Peaker CfDs | 26.3 | 25.4 | 10.5 | - | - | - | 62.2 | ||||||||||||||||||||||||||||||
Transmission Support Commitments | 10.2 | 8.5 | 7.5 | 8.4 | 8.4 | 8.4 | 51.4 | ||||||||||||||||||||||||||||||
Yankee Billings | 1.4 | 0.8 | 0.8 | 0.9 | 0.9 | 11.8 | 16.6 | ||||||||||||||||||||||||||||||
Total | $ | 233.4 | $ | 241.8 | $ | 169.1 | $ | 123.4 | $ | 106.4 | $ | 779.7 | $ | 1,653.80 | |||||||||||||||||||||||
NSTAR Electric | |||||||||||||||||||||||||||||||||||||
(Millions of Dollars) | 2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | ||||||||||||||||||||||||||||||
Supply and Stranded Cost | $ | 34.3 | $ | 14.1 | $ | 4.8 | $ | 5.5 | $ | 5.5 | $ | 31.4 | $ | 95.6 | |||||||||||||||||||||||
Renewable Energy | 85.4 | 99.9 | 96.9 | 59.6 | 57.7 | 319.8 | 719.3 | ||||||||||||||||||||||||||||||
Transmission Support Commitments | 8.1 | 6.7 | 5.9 | 6.6 | 6.6 | 6.6 | 40.5 | ||||||||||||||||||||||||||||||
Yankee Billings | 0.5 | 0.3 | 0.3 | 0.3 | 0.3 | 4 | 5.7 | ||||||||||||||||||||||||||||||
Total | $ | 128.3 | $ | 121 | $ | 107.9 | $ | 72 | $ | 70.1 | $ | 361.8 | $ | 861.1 | |||||||||||||||||||||||
PSNH | |||||||||||||||||||||||||||||||||||||
(Millions of Dollars) | 2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | ||||||||||||||||||||||||||||||
Supply and Stranded Cost | $ | 28 | $ | 18.3 | $ | 18.1 | $ | 17.8 | $ | 7.6 | $ | 7.4 | $ | 97.2 | |||||||||||||||||||||||
Renewable Energy | 57.7 | 67.9 | 69 | 70.1 | 70.7 | 932.4 | 1,267.80 | ||||||||||||||||||||||||||||||
Coal, Wood and Other | 99 | 25.2 | 5 | 5 | 1.9 | 15 | 151.1 | ||||||||||||||||||||||||||||||
Transmission Support Commitments | 5.5 | 4.6 | 4 | 4.5 | 4.5 | 4.5 | 27.6 | ||||||||||||||||||||||||||||||
Yankee Billings | 0.4 | 0.3 | 0.3 | 0.3 | 0.3 | 4.7 | 6.3 | ||||||||||||||||||||||||||||||
Total | $ | 190.6 | $ | 116.3 | $ | 96.4 | $ | 97.7 | $ | 85 | $ | 964 | $ | 1,550.00 | |||||||||||||||||||||||
WMECO | |||||||||||||||||||||||||||||||||||||
(Millions of Dollars) | 2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | Total | ||||||||||||||||||||||||||||||
Renewable Energy | $ | - | $ | 2.4 | $ | 2.4 | $ | 2.4 | $ | 2.4 | $ | 26.5 | $ | 36.1 | |||||||||||||||||||||||
Transmission Support Commitments | 2.1 | 1.8 | 1.6 | 1.7 | 1.8 | 1.8 | 10.8 | ||||||||||||||||||||||||||||||
Yankee Billings | 0.3 | 0.2 | 0.2 | 0.2 | 0.2 | 3 | 4.1 | ||||||||||||||||||||||||||||||
Total | $ | 2.4 | $ | 4.4 | $ | 4.2 | $ | 4.3 | $ | 4.4 | $ | 31.3 | $ | 51 | |||||||||||||||||||||||
NU | For the Years Ended December 31, | ||||||||||||||||||||||||||||||||||||
(Millions of Dollars) | 2014 | 2013 | 2012 (1) | ||||||||||||||||||||||||||||||||||
Supply and Stranded Cost | $ | 99.2 | $ | 141 | $ | 216.8 | |||||||||||||||||||||||||||||||
Renewable Energy | 114.4 | 91.3 | 48.7 | ||||||||||||||||||||||||||||||||||
Peaker CfDs | 18.1 | 51.9 | 59.3 | ||||||||||||||||||||||||||||||||||
Natural Gas Procurement | 482.5 | 349.8 | 243.1 | ||||||||||||||||||||||||||||||||||
Coal, Wood and Other | 120.5 | 112.6 | 105.2 | ||||||||||||||||||||||||||||||||||
Transmission Support Commitments | 25 | 24.9 | 24.8 | ||||||||||||||||||||||||||||||||||
For the Years Ended December 31, | |||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||
NSTAR | NSTAR | NSTAR | |||||||||||||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | |||||||||||||||||||||||||
Supply and Stranded Cost | $ | 63 | $ | 7 | $ | 26 | $ | 3.2 | $ | 77.6 | $ | 32.4 | $ | 29 | $ | 2 | $ | 158.2 | $ | 36.3 | $ | 30.5 | $ | 0.9 | |||||||||||||
Renewable Energy | 0.7 | 87.4 | 26.3 | - | - | 84.9 | 6.4 | - | - | 60.2 | 4.1 | - | |||||||||||||||||||||||||
Peaker CfDs | 18.1 | - | - | - | 51.9 | - | - | - | 59.3 | - | - | - | |||||||||||||||||||||||||
Coal, Wood and Other | - | - | 120.5 | - | - | - | 112.6 | - | - | - | 105.2 | - | |||||||||||||||||||||||||
Transmission Support Commitments | 9.9 | 7.7 | 5.3 | 2.1 | 9.8 | 7.7 | 5.3 | 2.1 | 9.6 | 7.6 | 5.2 | 2 |
Guarantees_and_Indemnification
Guarantees and Indemnifications (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2014 | ||||||||||
Notes To Consolidated Financial Statements [Abstract] | ||||||||||
Schedule Of Guarantee Obligations Text Block | Maximum Exposure | |||||||||
Subsidiary | Description | (in millions) | Expiration Dates | |||||||
Various | Surety Bonds (1) | $ | 60 | 2015 - 2016 | ||||||
NUSCO and Rocky River Realty Company | Lease Payments for Vehicles and Real Estate | $ | 14.4 | 2019 and 2024 |
Other_Contingencies_Tables
Other Contingencies (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||||||||||
Schedule Of Loss Contingencies By Contingency [Table Text Block] | NU | ||||||||||||||||||
For the Years Ended December 31, | |||||||||||||||||||
(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) | - | 8.4 | 8.4 | ||||||||||||||||
Cumulative Reserve | $ | 23.7 | $ | 37 | $ | 60.7 | |||||||||||||
CL&P | NSTAR Electric | ||||||||||||||||||
For the Years Ended December 31, | For the Years Ended December 31, | ||||||||||||||||||
(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) | - | 6.7 | 6.7 | - | - | - | |||||||||||||
Cumulative Reserve | $ | 12.8 | $ | 20.7 | $ | 33.5 | $ | 5.7 | $ | 7.9 | $ | 13.6 | |||||||
PSNH | WMECO | ||||||||||||||||||
For the Years Ended December 31, | For the Years Ended December 31, | ||||||||||||||||||
(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) | - | - | - | - | 1.7 | 1.7 | |||||||||||||
Cumulative Reserve | $ | 2.3 | $ | 2.8 | $ | 5.1 | $ | 2.9 | $ | 5.6 | $ | 8.5 |
LEASES_Tables
LEASES (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ||||||||||||||||
Schedule of Rent Expense [Table Text Block] | NSTAR | |||||||||||||||
(Millions of Dollars) | NU (1) | CL&P | Electric | PSNH | WMECO | |||||||||||
2014 | $ | 14.3 | $ | 6 | $ | 7.8 | $ | 1.5 | $ | 1.2 | ||||||
2013 | 16.3 | 8.1 | 6.7 | 1.7 | 2.9 | |||||||||||
2012 | 14.8 | 8.2 | 6.2 | 2.5 | 3 | |||||||||||
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block] | Capital Leases | |||||||||||||||
(Millions of Dollars) | NU | CL&P | PSNH | |||||||||||||
2015 | $ | 2.4 | $ | 2 | $ | 0.4 | ||||||||||
2016 | 2.2 | 1.9 | 0.3 | |||||||||||||
2017 | 2.1 | 2 | 0.1 | |||||||||||||
2018 | 2.1 | 2 | 0.1 | |||||||||||||
2019 | 2 | 2 | 0 | |||||||||||||
Thereafter | 3.5 | 3.5 | 0 | |||||||||||||
Future minimum lease payments | 14.3 | 13.4 | 0.9 | |||||||||||||
Less amount representing interest | 4.9 | 5 | 0 | |||||||||||||
Present value of future minimum lease payments | $ | 9.4 | $ | 8.4 | $ | 0.9 | ||||||||||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Operating Leases | NSTAR | ||||||||||||||
(Millions of Dollars) | NU | CL&P | Electric | PSNH | WMECO | |||||||||||
2015 | $ | 20.1 | $ | 4.3 | $ | 10 | $ | 1.1 | $ | 1.2 | ||||||
2016 | 17.6 | 3.8 | 8.8 | 1 | 1 | |||||||||||
2017 | 14.6 | 2.6 | 7.7 | 0.8 | 0.8 | |||||||||||
2018 | 10.5 | 1.5 | 5.8 | 0.6 | 0.6 | |||||||||||
2019 | 8.6 | 1.1 | 4.7 | 0.5 | 0.6 | |||||||||||
Thereafter | 22.5 | 4 | 10.4 | 1.5 | 2.5 | |||||||||||
Future minimum lease payments | $ | 93.9 | $ | 17.3 | $ | 47.4 | $ | 5.5 | $ | 6.7 |
FAIR_VALUE_OF_FINANCIAL_INSTRU1
FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||||||||||||||||
Fair Value By Balance Sheet Grouping Text Block | As of December 31, | ||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
NU | Carrying | Fair | Carrying | Fair | |||||||||||||||||||||
(Millions of Dollars) | Amount | Value | Amount | Value | |||||||||||||||||||||
Preferred Stock Not Subject to Mandatory Redemption | $ | 155.6 | $ | 153.6 | $ | 155.6 | $ | 152.7 | |||||||||||||||||
Long-Term Debt | 8,851.60 | 9,451.20 | 8,310.20 | 8,443.10 | |||||||||||||||||||||
As of December 31, 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 | $ | 112 | $ | 43 | $ | 41.6 | $ | - | $ | - | $ | - | $ | - | |||||||||
Long-Term Debt | 2,842.00 | 3,214.50 | 1,797.40 | 1,993.50 | 1,076.30 | 1,137.90 | 628.5 | 689.4 | |||||||||||||||||
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) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||||||||||||||||
Schedule Of Accumulated Other Comprehensive Income Loss Table Text Block | For the Year Ended December 31, 2014 | For the Year Ended December 31, 2013 | |||||||||||||||||||||||
Qualified | Unrealized | Qualified | Unrealized | ||||||||||||||||||||||
Cash Flow | Gains/(Losses) | Defined | Cash Flow | Gains/(Losses) | Defined | ||||||||||||||||||||
Hedging | on Marketable | Benefit | Hedging | on Marketable | Benefit | ||||||||||||||||||||
(Millions of Dollars) | Instruments | Securities | Plans | Total | Instruments | Securities | Plans | Total | |||||||||||||||||
AOCI as of January 1st | $ | -14.4 | $ | 0.4 | $ | -32 | $ | -46 | $ | -16.4 | $ | 1.3 | $ | -57.8 | $ | -72.9 | |||||||||
OCI Before Reclassifications | - | 0.3 | -34.2 | -33.9 | - | -0.9 | 19.4 | 18.5 | |||||||||||||||||
Amounts Reclassified from AOCI | 2 | - | 3.9 | 5.9 | 2 | - | 6.4 | 8.4 | |||||||||||||||||
Net OCI | 2 | 0.3 | -30.3 | -28 | 2 | -0.9 | 25.8 | 26.9 | |||||||||||||||||
AOCI as of December 31st | $ | -12.4 | $ | 0.7 | $ | -62.3 | $ | -74 | $ | -14.4 | $ | 0.4 | $ | -32 | $ | -46 | |||||||||
Schedule Of Comprehensive Income Loss [Table Text Block] | For the Years Ended December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||
Amounts Reclassified | Amounts Reclassified | Amounts Reclassified | Statements of Income | ||||||||||||||||||||||
(Millions of Dollars) | from AOCI | from AOCI | from AOCI | Line Item Impacted | |||||||||||||||||||||
Qualified Cash Flow Hedging Instruments | $ | -3.4 | $ | -3.4 | $ | -3.3 | Interest Expense | ||||||||||||||||||
Tax Effect | 1.4 | 1.4 | 1.3 | Income Tax Expense | |||||||||||||||||||||
Qualified Cash Flow Hedging Instruments, Net of Tax | $ | -2 | $ | -2 | $ | -2 | |||||||||||||||||||
Defined Benefit Plan Costs: | |||||||||||||||||||||||||
Amortization of Actuarial Losses | $ | -6.2 | $ | -10.5 | $ | -8.9 | Operations and Maintenance (1) | ||||||||||||||||||
Amortization of Prior Service Cost | -0.2 | -0.2 | -0.2 | Operations and Maintenance (1) | |||||||||||||||||||||
Amortization of Transition Obligation | 0 | 0 | -0.2 | Operations and Maintenance (1) | |||||||||||||||||||||
Total Defined Benefit Plan Costs | -6.4 | -10.7 | -9.3 | ||||||||||||||||||||||
Tax Effect | 2.5 | 4.3 | 3.5 | Income Tax Expense | |||||||||||||||||||||
Defined Benefit Plan Costs, Net of Tax | $ | -3.9 | $ | -6.4 | $ | -5.8 | |||||||||||||||||||
Total Amounts Reclassified from AOCI, Net of Tax | $ | -5.9 | $ | -8.4 | $ | -7.8 |
COMMON_SHARES_Tables
COMMON SHARES (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2014 | |||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||
Schedule of Stock by Class [Text Block] | 16. 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 | Issued | ||||||||||
Per Share | as of December 31, | as of December 31, | |||||||||
Par Value | 2014 and 2013 | 2014 | 2013 | ||||||||
NU | $ | 5 | 380,000,000 | 333,359,172 | 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 December 31, 2014 and 2013, there were 16,375,835 and 17,796,672 NU common shares held as treasury shares, respectively. As of December 31, 2014 and 2013, NU common shares outstanding were 316,983,337 and 315,273,559, respectively. |
PREFFERED_STOCK_TABLES
PREFFERED STOCK (TABLES) | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||||||
Schedule of Preferred Stock [Text Block] | Redemption Price | Shares Outstanding as of | As of December 31, | ||||||||||||
Series | Per Share | December 31, 2014 and 2013 | 2014 | 2013 | |||||||||||
CL&P | |||||||||||||||
$ | 1.9 | Series of 1947 | $ | 52.5 | 163,912 | $ | 8.2 | $ | 8.2 | ||||||
$ | 2 | Series of 1947 | $ | 54 | 336,088 | 16.8 | 16.8 | ||||||||
$ | 2.04 | Series of 1949 | $ | 52 | 100,000 | 5 | 5 | ||||||||
$ | 2.2 | Series of 1949 | $ | 52.5 | 200,000 | 10 | 10 | ||||||||
3.9 | % | Series of 1949 | $ | 50.5 | 160,000 | 8 | 8 | ||||||||
$ | 2.06 | Series E of 1954 | $ | 51 | 200,000 | 10 | 10 | ||||||||
$ | 2.09 | Series F of 1955 | $ | 51 | 100,000 | 5 | 5 | ||||||||
4.5 | % | Series of 1956 | $ | 50.75 | 104,000 | 5.2 | 5.2 | ||||||||
4.96 | % | Series of 1958 | $ | 50.5 | 100,000 | 5 | 5 | ||||||||
4.5 | % | Series of 1963 | $ | 50.5 | 160,000 | 8 | 8 | ||||||||
5.28 | % | Series of 1967 | $ | 51.43 | 200,000 | 10 | 10 | ||||||||
$ | 3.24 | Series G of 1968 | $ | 51.84 | 300,000 | 15 | 15 | ||||||||
6.56 | % | Series of 1968 | $ | 51.44 | 200,000 | 10 | 10 | ||||||||
Total CL&P | 2,324,000 | $ | 116.2 | $ | 116.2 | ||||||||||
NSTAR Electric | |||||||||||||||
4.25 | % | Series | $ | 103.625 | 180,000 | $ | 18 | $ | 18 | ||||||
4.78 | % | Series | $ | 102.8 | 250,000 | 25 | 25 | ||||||||
Total NSTAR Electric | 430,000 | $ | 43 | $ | 43 | ||||||||||
Fair Value Adjustment due to Merger with NSTAR | -3.6 | -3.6 | |||||||||||||
Total NU - Preferred Stock of Subsidiaries | $ | 155.6 | $ | 155.6 |
COMMON_SHARESHOLDERS_EQUITY_AN1
COMMON SHARESHOLDERS' EQUITY AND NONCONTROLLING INTERESTS (NU) (Tables) | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||||||
Minority Interest Disclosure Text Block | 18 | COMMON SHAREHOLDERS' EQUITY AND NONCONTROLLING INTERESTS | |||||||||||||
A summary of the changes in Common Shareholders' Equity and Noncontrolling Interests of NU is as follows: | |||||||||||||||
Noncontrolling | |||||||||||||||
Common | Interest - | ||||||||||||||
Shareholders' | Noncontrolling | Total | Preferred Stock | ||||||||||||
(Millions of Dollars) | Equity | Interest | Equity | of Subsidiaries | |||||||||||
Balance as of January 1, 2012 | $ | 4,012.70 | $ | 3 | $ | 4,015.70 | $ | 116.2 | |||||||
Net Income | 533.1 | - | 533.1 | - | |||||||||||
Purchase Price of NSTAR (1) | 5,038.30 | - | 5,038.30 | - | |||||||||||
Other Equity Impacts of Merger with NSTAR (2) | 3.4 | -3.4 | - | 39.4 | |||||||||||
Dividends on Common Shares | -375.5 | - | -375.5 | - | |||||||||||
Dividends on Preferred Stock | -7 | - | -7 | -7 | |||||||||||
Issuance of Common Shares | 13.3 | - | 13.3 | - | |||||||||||
Contributions to NPT | - | 0.3 | 0.3 | - | |||||||||||
Other Transactions, Net | 21.1 | - | 21.1 | - | |||||||||||
Net Income Attributable to Noncontrolling Interests | -0.1 | 0.1 | - | 7 | |||||||||||
Other Comprehensive Loss | -2.2 | - | -2.2 | - | |||||||||||
Balance as of December 31, 2012 | $ | 9,237.10 | $ | - | $ | 9,237.10 | $ | 155.6 | |||||||
Net Income | 793.7 | - | 793.7 | - | |||||||||||
Dividends on Common Shares | -462.7 | - | -462.7 | - | |||||||||||
Dividends on Preferred Stock | -7.7 | - | -7.7 | -7.7 | |||||||||||
Issuance of Common Shares | 11.1 | - | 11.1 | - | |||||||||||
Other Transactions, Net | 13.2 | - | 13.2 | - | |||||||||||
Net Income Attributable to Noncontrolling Interests | - | - | - | 7.7 | |||||||||||
Other Comprehensive Income | 26.8 | - | 26.8 | - | |||||||||||
Balance as of December 31, 2013 | $ | 9,611.50 | $ | - | $ | 9,611.50 | $ | 155.6 | |||||||
Net Income | 827.1 | - | 827.1 | - | |||||||||||
Dividends on Common Shares | -496.5 | - | -496.5 | - | |||||||||||
Dividends on Preferred Stock | -7.5 | - | -7.5 | -7.5 | |||||||||||
Issuance of Common Shares | 6.6 | - | 6.6 | - | |||||||||||
Other Transactions, Net | 63.6 | - | 63.6 | - | |||||||||||
Net Income Attributable to Noncontrolling Interests | - | - | - | 7.5 | |||||||||||
Other Comprehensive Loss | -28 | - | -28 | - | |||||||||||
Balance as of December 31, 2014 | $ | 9,976.80 | $ | - | $ | 9,976.80 | $ | 155.6 |
EARNINGS_PER_SHARE_Tables
EARNINGS PER SHARE (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2014 | ||||||||||
Notes To Consolidated Financial Statements [Abstract] | ||||||||||
Schedule Of Earnings Per Share Basic And Diluted [Table Text Block] | For the Years Ended December 31, | |||||||||
(Millions of Dollars, except share information) | 2014 | 2013 | 2012 | |||||||
Net Income Attributable to Controlling Interest | $ | 819.5 | $ | 786 | $ | 525.9 | ||||
Weighted Average Common Shares Outstanding: | ||||||||||
Basic | 316,136,748 | 315,311,387 | 277,209,819 | |||||||
Dilutive Effect | 1,280,666 | 899,773 | 783,812 | |||||||
Diluted | 317,417,414 | 316,211,160 | 277,993,631 | |||||||
Basic EPS | $ | 2.59 | $ | 2.49 | $ | 1.9 | ||||
Diluted EPS | $ | 2.58 | $ | 2.49 | $ | 1.89 |
SEGMENT_INFORMATION_Tables
SEGMENT INFORMATION (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||||||||
Schedule Of Segment Reporting Information By Segment Text Block | For the Year Ended December 31, 2014 | ||||||||||||||||||
Electric | Natural Gas | ||||||||||||||||||
(Millions of Dollars) | Distribution | Distribution | Transmission | Other | Eliminations | Total | |||||||||||||
Operating Revenues | $ | 5,663.40 | $ | 1,007.30 | $ | 1,018.20 | $ | 790.9 | $ | -737.9 | $ | 7,741.90 | |||||||
Depreciation and Amortization | -384.6 | -68.1 | -150.5 | -42.1 | 19.9 | -625.4 | |||||||||||||
Other Operating Expenses | -4,366.20 | -786.7 | -302.1 | -748 | 719.3 | -5,483.70 | |||||||||||||
Operating Income | 912.6 | 152.5 | 565.6 | 0.8 | 1.3 | 1,632.80 | |||||||||||||
Interest Expense | -191.6 | -34 | -104.1 | -36.6 | 4.2 | -362.1 | |||||||||||||
Interest Income | 5.1 | - | 0.9 | 3.6 | -3.6 | 6 | |||||||||||||
Other Income, Net | 10.7 | 0.2 | 10.3 | 916 | -918.6 | 18.6 | |||||||||||||
Income Tax (Expense)/Benefit | -269.7 | -46.4 | -174.5 | 22.3 | - | -468.3 | |||||||||||||
Net Income | 467.1 | 72.3 | 298.2 | 906.1 | -916.7 | 827 | |||||||||||||
Net Income Attributable to Noncontrolling Interests | -4.7 | - | -2.8 | - | - | -7.5 | |||||||||||||
Net Income Attributable to Controlling Interest | $ | 462.4 | $ | 72.3 | $ | 295.4 | $ | 906.1 | $ | -916.7 | $ | 819.5 | |||||||
Total Assets (as of) | $ | 17,563.40 | $ | 3,030.90 | $ | 7,625.60 | $ | 12,682.50 | $ | -11,124.40 | $ | 29,778.00 | |||||||
Cash Flows Used for Investments in Plant | $ | 645.2 | $ | 176.7 | $ | 731.6 | $ | 50.2 | $ | - | $ | 1,603.70 | |||||||
For the Year Ended December 31, 2013 | |||||||||||||||||||
Electric | Natural Gas | ||||||||||||||||||
(Millions of Dollars) | Distribution | Distribution | Transmission | Other | Eliminations | Total | |||||||||||||
Operating Revenues | $ | 5,362.30 | $ | 855.8 | $ | 978.7 | $ | 777.5 | $ | -673.1 | $ | 7,301.20 | |||||||
Depreciation and Amortization | -604.8 | -66.7 | -136.2 | -62.2 | 10.2 | -859.7 | |||||||||||||
Other Operating Expenses | -3,927.70 | -659.4 | -281.8 | -715 | 671.8 | -4,912.10 | |||||||||||||
Operating Income | 829.8 | 129.7 | 560.7 | 0.3 | 8.9 | 1,529.40 | |||||||||||||
Interest Expense | -175 | -33.1 | -100.3 | -35.5 | 5.2 | -338.7 | |||||||||||||
Interest Income | 4.1 | - | 0.7 | 5.4 | -5.6 | 4.6 | |||||||||||||
Other Income, Net | 12.9 | 0.8 | 10.9 | 858.9 | -858.2 | 25.3 | |||||||||||||
Income Tax (Expense)/Benefit | -240 | -36.5 | -182.1 | 31.9 | -0.2 | -426.9 | |||||||||||||
Net Income | 431.8 | 60.9 | 289.9 | 861 | -849.9 | 793.7 | |||||||||||||
Net Income Attributable to Noncontrolling Interests | -4.8 | - | -2.9 | - | - | -7.7 | |||||||||||||
Net Income Attributable to Controlling Interest | $ | 427 | $ | 60.9 | $ | 287 | $ | 861 | $ | -849.9 | $ | 786 | |||||||
Total Assets (as of) | $ | 17,260.00 | $ | 2,759.70 | $ | 6,745.80 | $ | 11,842.40 | $ | -10,812.40 | $ | 27,795.50 | |||||||
Cash Flows Used for Investments in Plant | $ | 639 | $ | 168.1 | $ | 618.5 | $ | 31.2 | $ | - | $ | 1,456.80 | |||||||
For the Year Ended December 31, 2012 | |||||||||||||||||||
Electric | Natural Gas | ||||||||||||||||||
(Millions of Dollars) | Distribution | Distribution | Transmission | Other | Eliminations | Total | |||||||||||||
Operating Revenues | $ | 4,716.50 | $ | 572.9 | $ | 861.5 | $ | 803.8 | $ | -680.9 | $ | 6,273.80 | |||||||
Depreciation and Amortization | -530.3 | -49.1 | -109.2 | -56.4 | 4.2 | -740.8 | |||||||||||||
Other Operating Expenses | -3,585.40 | -445.2 | -251.6 | -817 | 684.4 | -4,414.80 | |||||||||||||
Operating Income/(Loss) | 600.8 | 78.6 | 500.7 | -69.6 | 7.7 | 1,118.20 | |||||||||||||
Interest Expense | -165.6 | -31.3 | -96.7 | -43.6 | 7.3 | -329.9 | |||||||||||||
Interest Income | 2.8 | - | 0.4 | 7.1 | -7.1 | 3.2 | |||||||||||||
Other Income, Net | 8.9 | 0.4 | 7.3 | 795 | -795.1 | 16.5 | |||||||||||||
Income Tax (Expense)/Benefit | -150.2 | -16.9 | -159.2 | 55.5 | -4.1 | -274.9 | |||||||||||||
Net Income | 296.7 | 30.8 | 252.5 | 744.4 | -791.3 | 533.1 | |||||||||||||
Net Income Attributable to Noncontrolling Interests | -4.4 | - | -2.8 | - | - | -7.2 | |||||||||||||
Net Income Attributable to Controlling Interest | $ | 292.3 | $ | 30.8 | $ | 249.7 | $ | 744.4 | $ | -791.3 | $ | 525.9 | |||||||
Cash Flows Used for Investments in Plant | $ | 611.7 | $ | 148.7 | $ | 663.6 | $ | 48.3 | $ | - | $ | 1,472.30 |
MERGER_OF_NU_AND_NSTAR_Tables
MERGER OF NU AND NSTAR (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ||||||||||||
Schedule of Business Acquisitions by Acquisition Equity Interest Issued or Issuable [Table Text Block] | NSTAR common shares outstanding as of April 9, 2012 (in thousands)* | 103,696 | ||||||||||
Exchange ratio | 1.312 | |||||||||||
NU common shares issued for NSTAR common shares outstanding (in thousands) | 136,049 | |||||||||||
Closing price of NU common shares on April 9, 2012 | $ | 36.79 | ||||||||||
Value of common shares issued (in millions) | $ | 5,005 | ||||||||||
Fair value of NU replacement stock-based compensation awards related to pre-merger service (in millions) | 33 | |||||||||||
Total purchase price (in millions) | $ | 5,038 | ||||||||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | ||||||||||||
Business Acquisition, Pro Forma Information | (Pro forma amounts in millions, except per share amounts) | For the Year Ended December 31, 2012 | ||||||||||
Operating Revenues | $ | 7,004 | ||||||||||
Net Income Attributable to Controlling Interest | 630 | |||||||||||
Basic EPS | 2 | |||||||||||
Diluted EPS | 1.99 | |||||||||||
Business Acquisition, Integration, Restructuring and Other Related Costs [Text Block] | (Millions of Dollars) | For the Year Ended December 31, 2012 | ||||||||||
Transaction and Other Costs | $ | 32 | ||||||||||
Settlement Agreement Impacts | 60 | |||||||||||
Total After-Tax Non-Recurring Costs Excluded from Pro Forma Net Income Attributable to Controlling Interest | $ | 92 | ||||||||||
(Millions of Dollars) | NU | CL&P | NSTAR Electric | WMECO | ||||||||
Customer Rate Credits | $ | 46 | $ | 25 | $ | 15 | $ | 3 | ||||
Storm Costs Deferral Reduction | 40 | 40 | - | - | ||||||||
Establishment of Energy Efficiency Fund | 15 | - | - | - | ||||||||
Total Pre-Tax Settlement Agreement Impacts | $ | 101 | $ | 65 | $ | 15 | $ | 3 |
GOODWILL_Tables
GOODWILL (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2014 | ||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ||||||||||||||
Schedule Of Goodwill Text Block | Electric | Electric | Natural Gas | |||||||||||
(Billions of Dollars) | Distribution | Transmission | Distribution | Total | ||||||||||
Goodwill Allocation | $ | 2.5 | $ | 0.6 | $ | 0.4 | $ | 3.5 |
QUARTERLY_FINANCIAL_DATA_Unaud1
QUARTERLY FINANCIAL DATA (Unaudited) (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Quarterly Financial Data [Abstract] | ||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | NU Consolidated Statements of Quarterly Financial Data | Quarter Ended | ||||||||||
(Millions of Dollars, except per share information) | March 31, | June 30, | September 30, | December 31, | ||||||||
2014 | ||||||||||||
Operating Revenues | $ | 2,290.60 | $ | 1,677.60 | $ | 1,892.50 | $ | 1,881.20 | ||||
Operating Income | 467.7 | 294 | 440.9 | 430.2 | ||||||||
Net Income | 237.8 | 129.2 | 236.5 | 223.6 | ||||||||
Net Income Attributable to Controlling Interest | 236 | 127.4 | 234.6 | 221.5 | ||||||||
Basic EPS (a) | $ | 0.75 | $ | 0.4 | $ | 0.74 | $ | 0.69 | ||||
Diluted EPS (a) | $ | 0.74 | $ | 0.4 | $ | 0.74 | $ | 0.69 | ||||
2013 | ||||||||||||
Operating Revenues | $ | 1,995.00 | $ | 1,635.90 | $ | 1,892.60 | $ | 1,777.70 | ||||
Operating Income | 418.9 | 350.6 | 399.3 | 360.6 | ||||||||
Net Income | 230 | 173.1 | 211.4 | 179.2 | ||||||||
Net Income Attributable to Controlling Interest | 228.1 | 171 | 209.5 | 177.4 | ||||||||
Basic and Diluted EPS (a) | $ | 0.72 | $ | 0.54 | $ | 0.66 | $ | 0.56 | ||||
(a) The summation of quarterly EPS data may not equal annual data due to rounding. | ||||||||||||
Statements of Quarterly Financial Data | Quarter Ended | |||||||||||
(Millions of Dollars) | March 31, | June 30, | September 30, | December 31, | ||||||||
CL&P | ||||||||||||
2014 | ||||||||||||
Operating Revenues | $ | 734.6 | $ | 587.3 | $ | 695.6 | $ | 675.1 | ||||
Operating Income | 158 | 92.1 | 146.2 | 159 | ||||||||
Net Income | 79.3 | 37.4 | 83.9 | 87.2 | ||||||||
2013 | ||||||||||||
Operating Revenues | $ | 624.1 | $ | 569.3 | $ | 648.4 | $ | 600.5 | ||||
Operating Income | 149.7 | 136.8 | 133.9 | 119.2 | ||||||||
Net Income | 85 | 67.9 | 66.3 | 60.2 | ||||||||
NSTAR Electric | ||||||||||||
2014 | ||||||||||||
Operating Revenues | $ | 666.2 | $ | 561.5 | $ | 727.9 | $ | 581.1 | ||||
Operating Income | 118.4 | 121.5 | 206.6 | 132 | ||||||||
Net Income | 58.1 | 60.1 | 115.6 | 69.3 | ||||||||
2013 | ||||||||||||
Operating Revenues | $ | 592.3 | $ | 570.4 | $ | 753.9 | $ | 576.9 | ||||
Operating Income | 94.5 | 112.5 | 192 | 109.2 | ||||||||
Net Income | 48.1 | 58 | 107 | 55.4 | ||||||||
PSNH | ||||||||||||
2014 | ||||||||||||
Operating Revenues | $ | 299.8 | $ | 211.6 | $ | 223.7 | $ | 224.4 | ||||
Operating Income | 64 | 49 | 56.4 | 60 | ||||||||
Net Income | 32.6 | 24.1 | 28.2 | 29 | ||||||||
2013 | ||||||||||||
Operating Revenues | $ | 273.8 | $ | 216.1 | $ | 218.6 | $ | 226.9 | ||||
Operating Income | 58.1 | 54.3 | 56.6 | 56.2 | ||||||||
Net Income | 29 | 27.2 | 28.4 | 26.8 | ||||||||
WMECO | ||||||||||||
2014 | ||||||||||||
Operating Revenues | $ | 137.4 | $ | 108.3 | $ | 118.1 | $ | 129.6 | ||||
Operating Income | 34.7 | 17.7 | 31.2 | 34 | ||||||||
Net Income | 18.1 | 7 | 14.7 | 18 | ||||||||
2013 | ||||||||||||
Operating Revenues | $ | 125 | $ | 115 | $ | 121.8 | $ | 110.9 | ||||
Operating Income | 35.6 | 32.4 | 28.9 | 22.4 | ||||||||
Net Income | 18.6 | 16.4 | 15 | 10.4 |
Provision_for_Uncollectible_Ac1
Provision for Uncollectible Accounts (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Allowance For Doubtful Accounts Receivable Current | $175.30 | $171.30 |
Uncollectible Hardship Accounts Receivable Reserve | 91.5 | 81.2 |
The Connecticut Light And Power Company [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Allowance For Doubtful Accounts Receivable Current | 84.3 | 82 |
Uncollectible Hardship Accounts Receivable Reserve | 74 | 67.3 |
NSTAR Electric Company [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Allowance For Doubtful Accounts Receivable Current | 40.7 | 41.7 |
Public Service Company Of New Hampshire [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Allowance For Doubtful Accounts Receivable Current | 7.7 | 7.4 |
Western Massachusetts Electric Company [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Allowance For Doubtful Accounts Receivable Current | 9.9 | 10 |
Uncollectible Hardship Accounts Receivable Reserve | $6.20 | $5.50 |
Fuel_Materials_and_Supplies_an
Fuel, Materials and Supplies and Allowance Inventory (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
fuelcosts | $164.30 | $139.50 |
Public Service Company Of New Hampshire [Member] | ||
fuelcosts | 95.1 | 74.2 |
Public Service Company Of New Hampshire [Member] | Emission Allowances [Member] | ||
Other Inventory, Noncurrent | $20.10 | $19.40 |
Restricted_Cash_and_Other_Depo
Restricted Cash and Other Deposits (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Special Deposits [Line Items] | ||
Restricted Cash And Cash Equivalents | $3.20 | $1.70 |
Cash Collateral Deposited | 9.9 | 17.9 |
The Connecticut Light And Power Company [Member] | ||
Special Deposits [Line Items] | ||
Restricted Cash And Cash Equivalents | 2.1 | 1.4 |
Cash Collateral Deposited | 1.2 | |
NSTAR Electric Company [Member] | ||
Special Deposits [Line Items] | ||
Cash Collateral Deposited | 9 | |
Public Service Company Of New Hampshire [Member] | ||
Special Deposits [Line Items] | ||
Restricted Cash And Cash Equivalents | 1 | |
Cash Collateral Deposited | $2.50 |
Equity_Method_Investments_Deta
Equity Method Investments (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
The Connecticut Light And Power Company [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Equity Method Investments | $1,200 | $1,200 |
NSTAR Electric Company [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Equity Method Investments | 500 | 500 |
Public Service Company Of New Hampshire [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Equity Method Investments | 300 | 300 |
Western Massachusetts Electric Company [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Equity Method Investments | 300 | 300 |
CYAPC [Member] | The Connecticut Light And Power Company [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Equity Method Investment, Ownership Percentage | 34.50% | |
CYAPC [Member] | NSTAR Electric Company [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Equity Method Investment, Ownership Percentage | 14.00% | |
CYAPC [Member] | Public Service Company Of New Hampshire [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Equity Method Investment, Ownership Percentage | 5.00% | |
CYAPC [Member] | Western Massachusetts Electric Company [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Equity Method Investment, Ownership Percentage | 9.50% | |
YAEC [Member] | The Connecticut Light And Power Company [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Equity Method Investment, Ownership Percentage | 24.50% | |
YAEC [Member] | NSTAR Electric Company [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Equity Method Investment, Ownership Percentage | 14.00% | |
YAEC [Member] | Public Service Company Of New Hampshire [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Equity Method Investment, Ownership Percentage | 7.00% | |
YAEC [Member] | Western Massachusetts Electric Company [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Equity Method Investment, Ownership Percentage | 7.00% | |
MYAPC [Member] | The Connecticut Light And Power Company [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Equity Method Investment, Ownership Percentage | 12.00% | |
MYAPC [Member] | NSTAR Electric Company [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Equity Method Investment, Ownership Percentage | 4.00% | |
MYAPC [Member] | Public Service Company Of New Hampshire [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Equity Method Investment, Ownership Percentage | 5.00% | |
MYAPC [Member] | Western Massachusetts Electric Company [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Equity Method Investment, Ownership Percentage | 3.00% | |
Energy Investment Fund [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Equity Method Investments | $17,800 | $9,800 |
Operating_Expenses_Details
Operating Expenses (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Fuel [Line Items] | |||
Fuel Power Costs | $599.40 | $466.50 | $346.80 |
Public Service Company Of New Hampshire [Member] | |||
Fuel [Line Items] | |||
Fuel Power Costs | $113.40 | $104.80 | $103.40 |
Allowance_for_Funds_Used_Durin1
Allowance for Funds Used During Construction (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Allowance For Funds Used During Construction [Line Items] | |||
Public Utilities Allowance For Funds Used During Construction Capitalized Interest | $5.80 | $4.10 | $5.30 |
Public Utilities Allowance For Funds Used During Construction Additions | 13.7 | 7.1 | 6.8 |
Public Utilities Allowance For Funds Used During Construction Capitalized Total | 19.5 | 11.2 | 12.1 |
Public Utilities Allowance For Funds Used During Construction Rate | 3.40% | 2.70% | 3.70% |
The Connecticut Light And Power Company [Member] | |||
Allowance For Funds Used During Construction [Line Items] | |||
Public Utilities Allowance For Funds Used During Construction Capitalized Interest | 1.9 | 2.2 | 2.5 |
Public Utilities Allowance For Funds Used During Construction Additions | 2.9 | 2.9 | 1.9 |
Public Utilities Allowance For Funds Used During Construction Capitalized Total | 4.8 | 5.1 | 4.4 |
Public Utilities Allowance For Funds Used During Construction Rate | 3.40% | 3.70% | 3.60% |
NSTAR Electric Company [Member] | |||
Allowance For Funds Used During Construction [Line Items] | |||
Public Utilities Allowance For Funds Used During Construction Capitalized Interest | 2 | 0.5 | 0.3 |
Public Utilities Allowance For Funds Used During Construction Additions | 3.8 | ||
Public Utilities Allowance For Funds Used During Construction Capitalized Total | 5.8 | 0.5 | 0.3 |
Public Utilities Allowance For Funds Used During Construction Rate | 2.50% | 0.50% | 0.40% |
Public Service Company Of New Hampshire [Member] | |||
Allowance For Funds Used During Construction [Line Items] | |||
Public Utilities Allowance For Funds Used During Construction Capitalized Interest | 0.6 | 0.5 | 1.6 |
Public Utilities Allowance For Funds Used During Construction Additions | 0.6 | 0.2 | 1.9 |
Public Utilities Allowance For Funds Used During Construction Capitalized Total | 1.2 | 0.7 | 3.5 |
Public Utilities Allowance For Funds Used During Construction Rate | 1.80% | 1.10% | 5.90% |
Western Massachusetts Electric Company [Member] | |||
Allowance For Funds Used During Construction [Line Items] | |||
Public Utilities Allowance For Funds Used During Construction Capitalized Interest | 0.9 | 0.5 | 0.5 |
Public Utilities Allowance For Funds Used During Construction Additions | 1.7 | 1 | 1 |
Public Utilities Allowance For Funds Used During Construction Capitalized Total | $2.60 | $1.50 | $1.50 |
Public Utilities Allowance For Funds Used During Construction Rate | 5.60% | 6.10% | 6.80% |
Other_Income_Net_Details
Other Income, Net (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Component Of Other Income Nonoperating [Line Items] | |||
Public Utilities Allowance For Funds Used During Construction Additions | $13.70 | $7.10 | $6.80 |
The Connecticut Light And Power Company [Member] | |||
Component Of Other Income Nonoperating [Line Items] | |||
Public Utilities Allowance For Funds Used During Construction Additions | 2.9 | 2.9 | 1.9 |
Public Service Company Of New Hampshire [Member] | |||
Component Of Other Income Nonoperating [Line Items] | |||
Public Utilities Allowance For Funds Used During Construction Additions | 0.6 | 0.2 | 1.9 |
Western Massachusetts Electric Company [Member] | |||
Component Of Other Income Nonoperating [Line Items] | |||
Public Utilities Allowance For Funds Used During Construction Additions | $1.70 | $1 | $1 |
Other_Taxes_Details
Other Taxes (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Excise And Sales Taxes | $148.20 | $144.10 | $135 |
The Connecticut Light And Power Company [Member] | |||
Excise And Sales Taxes | $127.90 | $128.20 | $120.70 |
Supplemental_Cash_Flow_Informa1
Supplemental Cash Flow Information (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Capital Expenditures Incurred But Not Yet Paid | $181,900,000 | $193,100,000 | $160,600,000 |
Interest Paid, Net of Amounts Capitalized | 349,600,000 | 343,300,000 | 356,500,000 |
Income Taxes Paid | 334,200,000 | 50,000,000 | -12,800,000 |
The Connecticut Light And Power Company [Member] | |||
Capital Expenditures Incurred But Not Yet Paid | 63,500,000 | 51,400,000 | 42,800,000 |
Interest Paid, Net of Amounts Capitalized | 144,100,000 | 131,600,000 | 129,400,000 |
Income Taxes Paid | 135,400,000 | 55,000,000 | -42,000,000 |
NSTAR Electric Company [Member] | |||
Capital Expenditures Incurred But Not Yet Paid | 34,600,000 | 57,000,000 | 50,000,000 |
Interest Paid, Net of Amounts Capitalized | 75,300,000 | 75,800,000 | 94,600,000 |
Income Taxes Paid | 217,100,000 | 163,400,000 | 88,100,000 |
Public Service Company Of New Hampshire [Member] | |||
Capital Expenditures Incurred But Not Yet Paid | 39,300,000 | 34,900,000 | 16,800,000 |
Interest Paid, Net of Amounts Capitalized | 41,100,000 | 43,300,000 | 49,800,000 |
Income Taxes Paid | 2,300,000 | -30,100,000 | 14,700,000 |
Western Massachusetts Electric Company [Member] | |||
Capital Expenditures Incurred But Not Yet Paid | 14,200,000 | 19,500,000 | 30,000,000 |
Interest Paid, Net of Amounts Capitalized | 25,900,000 | 25,800,000 | 25,800,000 |
Income Taxes Paid | $25,100,000 | ($69,000,000) | ($8,400,000) |
Severance_Benefits_Details
Severance Benefits (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Notes To Consolidated Financial Statements [Abstract] | ||
Description Of Postemployment Benefits | For the years ended December 31, 2014 and 2013, NU recorded severance benefit expenses of $15 million and $9.7 million, respectively, in connection with the partial outsourcing of information technology functions and facilities closures, as well as ongoing post-merger integration. As of December 31, 2014 and 2013, the severance accrual totaled $10.4 million and $14.7 million, respectively, and was included in Other Current Liabilities on the balance sheets. | |
Postemployment Benefits Period Expense | $15 | $9.70 |
Postemployment Benefits Liability Current | $10.40 | $14.70 |
Related_Parties_Details
Related Parties (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
The Connecticut Light And Power Company [Member] | ||
Related Party Transaction [Line Items] | ||
Long Term Receivable From Nusco | $25 | $25 |
Public Service Company Of New Hampshire [Member] | ||
Related Party Transaction [Line Items] | ||
Long Term Receivable From Nusco | 3.8 | 3.8 |
Western Massachusetts Electric Company [Member] | ||
Related Party Transaction [Line Items] | ||
Long Term Receivable From Nusco | $5.50 | $5.50 |
REGULATORY_ACCOUNTING_Details
REGULATORY ACCOUNTING (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | $4,726,600,000 | $4,294,500,000 |
Regulatory Assets Current | 672,493,000 | 535,791,000 |
Regulatory Assets Long Term | 4,054,086,000 | 3,758,694,000 |
Regulatory Assets And Liabilities Other Disclosures Abstract | ||
Amount of Regulatory Costs Not yet Approved | 60,500,000 | 65,100,000 |
Description of Regulatory Assets and Liabilities | Regulatory Assets - The following provides further information about regulatory assets: Benefit Costs: NU's Pension, SERP and PBOP Plans are accounted for in accordance with accounting guidance on defined benefit pension and other PBOP plans. The liability recorded by the Regulated companies to recognize the funded status of their retiree benefit plans are offset by regulatory assets in lieu of a charge to Accumulated Other Comprehensive Income/(Loss), reflecting ultimate recovery from customers through rates. All amounts are remeasured annually. Regulatory accounting was also applied to the portions of NU's service company costs that support the Regulated companies, as these amounts are also recoverable. As these regulatory assets do not represent a cash outlay for the Regulated companies, no carrying charge is recovered from customers. The increase in the funded status liability of the retiree benefit plans and the corresponding regulatory assets was primarily driven by a change in mortality assumptions, which increased the estimate of benefits to be provided to plan participants, and a decrease in the discount rate assumption. For further information on the funded status liability and related regulatory assets of the Pension, SERP and PBOP plans, see Note 9A, "Employee Benefits – Pension Benefits and Postretirement Benefits Other Than Pensions." CL&P, NSTAR Electric, PSNH and WMECO recover benefit costs related to their distribution and transmission operations from customers in rates as allowed by their applicable regulatory commissions. NSTAR Electric and WMECO each recover their qualified pension and PBOP expenses related to distribution operations through rate reconciling mechanisms that fully track the change in net pension and PBOP expenses each year. Derivative Liabilities: Regulatory assets recorded as an offset to derivative liabilities relate to the fair value of contracts used to purchase energy and energy-related products that will be recovered from customers in future rates. See Note 4, "Derivative Instruments," to the financial statements for further information. These assets are excluded from rate base and are being recovered as the actual settlements occur over the duration of the contracts. Income Taxes, Net: The tax effect of temporary book-tax differences (differences between the periods in which transactions affect income in the financial statements and the periods in which they affect the determination of taxable income, including those differences relating to uncertain tax positions) is accounted for in accordance with the rate-making treatment of the applicable regulatory commissions and accounting guidance for income taxes. Differences in income taxes between the accounting guidance and the rate-making treatment of the applicable regulatory commissions are recorded as regulatory assets. As these assets are offset by deferred income tax liabilities, no carrying charge is collected. For further information regarding income taxes, see Note 10, "Income Taxes," to the financial statements. Storm Restoration Costs: The storm restoration cost deferrals relate to costs incurred at CL&P, NSTAR Electric, PSNH and WMECO that each company expects to recover from customers. A storm must meet certain criteria to be declared a major storm with the criteria specific to each state jurisdiction and utility company. Once a storm is declared major, all qualifying expenses incurred during storm restoration efforts are deferred and recovered from customers. In addition to storm restoration costs, CL&P and PSNH are each allowed to recover storm pre-staging costs in accordance with applicable regulation. CL&P, NSTAR Electric, PSNH and WMECO experienced several significant storm events, including Tropical Storm Irene in 2011, the October 2011 snowstorm, Storm Sandy in 2012 and the February 2013 blizzard. As a result of these storm events, each company suffered extensive damage to its distribution and transmission systems resulting in customer outages. Each company incurred significant costs to repair damage and restore customers' service. In addition, on November 26, 2014, a snowstorm caused damage to the electric delivery systems of PSNH and WMECO. This snowstorm resulted in estimated deferred storm restoration costs of approximately $23 million at PSNH and approximately $3 million at WMECO. The storm restoration cost regulatory asset balance at CL&P, NSTAR Electric, PSNH and WMECO reflects deferrable costs incurred for major storm events. Management believes the storm restoration costs were prudent and meet the criteria for specific cost recovery in Connecticut, Massachusetts and New Hampshire, and that recovery from customers is probable through the applicable regulatory recovery process. Storm Filings: Each electric utility has sought, or is seeking, recovery of its deferred storm restoration costs through its applicable regulatory recovery process. CL&P: As of December 31, 2014, all CL&P deferred storm costs have been reviewed and approved for recovery in distribution rates. 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 and ordered CL&P to capitalize approximately $18 million of the deferred storm restoration costs as utility plant, which will be recovered through depreciation expense in future rate proceedings. CL&P will recover the $365 million in its distribution rates over a six-year period that commenced on December 1, 2014. The remaining costs were either disallowed or are probable of recovery from other sources. These costs did not have a material impact on CL&P’s financial position, results of operations or cash flows. 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 11C, "Commitments and Contingencies - Contractual Obligations - Yankee Companies," to the financial statements. On December 17, 2014, as part of the distribution rate case decision, CL&P was also allowed recovery of the 2013 storm costs and residual 2012 Storm Sandy costs over a seven-year period that commenced on December 1, 2014. NSTAR Electric: On December 30, 2013, the DPU approved recovery of $34.2 million of NSTAR Electric’s storm restoration costs, plus carrying costs, related to Tropical Storm Irene in 2011 and the October 2011 snowstorm. NSTAR Electric is recovering these costs, plus carrying costs, in its distribution rates over a five-year period that commenced on January 1, 2014. PSNH: On June 27, 2013, the NHPUC approved an increase to PSNH’s distribution rates effective July 1, 2013, which included a $5 million increase to the level of funding for the major storm cost reserve. The major storm cost reserve is used to offset the storm restoration cost regulatory asset. On April 7, 2014, PSNH received an audit report from the NHPUC approving storm costs from 2011 through March 2013. WMECO: On December 20, 2013, the DPU approved WMECO's 2013 Annual Storm Reserve Recovery Cost Adjustment filing to begin recovering the October 2011 snowstorm and 2012 Storm Sandy restoration costs, which commenced on January 1, 2014, subject to further review and reconciliation. On December 5, 2014, the DPU approved the majority of deferred storm costs through 2011. Goodwill-related: The goodwill regulatory asset originated from the transaction that created NSTAR in 1999. This regulatory asset is currently being amortized and recovered from customers in rates without a carrying charge over a 40-year period (as of December 31, 2014, there were 25 years of amortization remaining). Regulatory Tracker Mechanisms: The Regulated companies’ approved rates are designed to recover their incurred costs to provide service to customers. The Regulated companies recover certain of their costs on a fully-reconciling basis through regulatory commission-approved tracking mechanisms. The difference between the costs incurred (or the rate recovery allowed) and the actual revenues is recorded as regulatory assets (for undercollections) or regulatory liabilities (for overcollections) to be included in future customer rates each year. Carrying charges are recorded on all material regulatory tracker mechanisms. CL&P, NSTAR Electric, PSNH and WMECO each recover the costs associated with the procurement of energy, transmission related costs from FERC-approved transmission tariffs, energy efficiency programs, low income assistance programs, and restructuring and stranded costs as a result of deregulation, on a fully reconciling basis. Energy procurement costs at PSNH include the costs related to its generating stations. WMECO's and CL&P's (effective December 1, 2014) distribution revenue is decoupled from their customer sales volume. CL&P and WMECO reconcile their annual base distribution rate recovery to a pre-established level of baseline distribution delivery service revenue. Any difference between the allowed level of distribution revenue and the actual amount incurred during a 12-month period is adjusted through rates in the following period. Contractual Obligations - Yankee Companies: CL&P, NSTAR Electric, PSNH and WMECO are responsible for their proportionate share of the remaining costs of the CYAPC, YAEC and MYAPC nuclear facilities, including nuclear fuel storage. A portion of these amounts was recorded as a regulatory asset. Amounts for CL&P are earning a return and are being recovered through the CTA. Amounts for NSTAR Electric and WMECO are being recovered without a return through the transition charge. Amounts for PSNH were fully recovered in 2006. As a result of NU's consolidation of CYAPC and YAEC, NU's regulatory asset balance also includes the regulatory assets of CYAPC and YAEC, which totaled $97.8 million and $129.8 million as of December 31, 2014 and 2013, respectively. 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. Buy Out Agreements for Power Contracts: NSTAR Electric's balance represents the contract termination liability related to certain purchase power contract buy out agreements that were executed in 2004. The contracts’ termination payments occur through September 2016 and are collected from customers through NSTAR Electric’s transition charge over the same period. NSTAR Electric does not earn a return on this regulatory asset. PSNH's balance represents payments associated with the termination of various power purchase contracts that were recorded as regulatory assets and are amortized over the remaining life of the contracts. Other Regulatory Assets: Other Regulatory Assets primarily include asset retirement obligations, environmental remediation costs, losses associated with the reacquisition or redemption of long-term debt and various other items, partially offset by purchase price adjustments recorded as Regulatory Assets in connection with the merger with NSTAR. Regulatory Liabilities: The components of regulatory liabilities are as follows: Cost of Removal: NU's Regulated companies currently recover amounts in rates for future costs of removal of plant assets over the lives of the assets. The estimated cost to remove utility assets from service is recognized as a component of depreciation expense and the cumulative amounts collected from customers but not yet expended is recognized as a regulatory liability. Expended costs that exceed amounts collected from customers are recognized as regulatory assets, as they are probable of recovery in future rates. AFUDC - Transmission: AFUDC was recorded by CL&P and WMECO for their NEEWS projects through May 31, 2011, all of which was reserved as a regulatory liability to reflect rate base recovery for 100 percent of the CWIP as a result of FERC-approved transmission incentives. Effective June 1, 2011, FERC approved changes to the ISO-NE Tariff in order to include 100 percent of the NEEWS CWIP in regional rate base. As a result, CL&P and WMECO no longer record AFUDC on NEEWS CWIP. NSTAR Electric recorded AFUDC on reliability-related projects over $5 million through December 31, 2014, 50 percent of which was recorded as a regulatory liability to reflect rate base recovery for 50 percent of the CWIP as a result of FERC-approved transmission incentives. Other Regulatory Liabilities: Other Regulatory Liabilities primarily includes amounts that are subject to various rate reconciling mechanisms that, as of each period end date, would result in refunds to customers. 2014 Regulatory Developments: As a result of actions taken by the FERC and other developments in the pending base ROE complaint proceedings described in Note 11E, "Commitments and Contingencies – FERC Base ROE Complaints," in 2014 the Company recorded reserves at its electric subsidiaries to recognize the potential financial impact of the first and second complaints. As of December 31, 2014, the cumulative pre-tax reserves (excluding interest), which exclude refunds for the first complaint refund period, totaled $60.7 million at NU, $33.5 million at CL&P, $13.6 million at NSTAR Electric, $5.1 million at PSNH and $8.5 million at WMECO. As of December 31, 2013, as a result of the 2013 FERC ALJ initial decision, 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 as a regulatory liability in Regulatory Tracker Mechanisms 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 11C, "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 Regulatory Tracker Mechanisms. Refunds to customers for these DOE proceeds began in 2014. On December 31, 2014, NSTAR Electric, NSTAR Gas and the Massachusetts Attorney General filed a comprehensive settlement agreement with the DPU. The comprehensive settlement agreement included resolution of the outstanding NSTAR Electric CPSL program filings for the periods 2006 through 2011, the NSTAR Electric and NSTAR Gas PAM and energy efficiency-related customer billing adjustments reported in 2012, and the NSTAR Electric energy efficiency program filings regarding LBR for the periods 2008 through 2011. If approved by the DPU, NSTAR Electric and NSTAR Gas will be required to refund a total of $44.7 million to their respective customers, which was included in Regulatory Tracker Mechanisms and Other Regulatory Liabilities as of December 31, 2014. For further information, see Note 11F, "Commitments and Contingencies – 2014 Comprehensive Settlement Agreement." | |
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 750,100,000 | 707,300,000 |
Regulatory Liability Current | 235,022,000 | 204,278,000 |
Regulatory Liabilities Long-Term | 515,144,000 | 502,984,000 |
Cost Of Removal [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 439,900,000 | 435,100,000 |
Regulatory Tracker Deferrals Regulatory Liabilities [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 192,300,000 | 151,200,000 |
AFUDC Transmission Incentive [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 67,100,000 | 68,100,000 |
Other Regulatory Liabilities [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 50,800,000 | 52,900,000 |
The Connecticut Light And Power Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 1,695,800,000 | 1,814,000,000 |
Regulatory Assets Current | 220,344,000 | 150,943,000 |
Regulatory Assets Long Term | 1,475,508,000 | 1,663,147,000 |
Regulatory Assets And Liabilities Other Disclosures Abstract | ||
Amount of Regulatory Costs Not yet Approved | 1,300,000 | 7,300,000 |
Public Utilities Amount Of Allowance For Earnings On Equity Capitalized For Rate Making Purposes | 1,700,000 | 1,900,000 |
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 206,000,000 | 187,800,000 |
Regulatory Liability Current | 124,722,000 | 93,961,000 |
Regulatory Liabilities Long-Term | 81,298,000 | 93,757,000 |
The Connecticut Light And Power Company [Member] | Cost Of Removal [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 19,700,000 | 29,100,000 |
The Connecticut Light And Power Company [Member] | Regulatory Tracker Deferrals Regulatory Liabilities [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 122,600,000 | 95,600,000 |
The Connecticut Light And Power Company [Member] | AFUDC Transmission Incentive [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 53,600,000 | 54,700,000 |
The Connecticut Light And Power Company [Member] | Other Regulatory Liabilities [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 10,100,000 | 8,400,000 |
NSTAR Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 1,377,800,000 | 1,439,300,000 |
Regulatory Assets Current | 198,710,000 | 204,144,000 |
Regulatory Assets Long Term | 1,179,100,000 | 1,235,156,000 |
Regulatory Assets And Liabilities Other Disclosures Abstract | ||
Amount of Regulatory Costs Not yet Approved | 33,200,000 | 33,400,000 |
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 312,300,000 | 307,100,000 |
Regulatory Liability Current | 49,611,000 | 53,958,000 |
Regulatory Liabilities Long-Term | 262,738,000 | 253,108,000 |
NSTAR Electric Company [Member] | Cost Of Removal [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 258,300,000 | 250,000,000 |
NSTAR Electric Company [Member] | Regulatory Tracker Deferrals Regulatory Liabilities [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 20,700,000 | 21,900,000 |
NSTAR Electric Company [Member] | AFUDC Transmission Incentive [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 4,400,000 | 4,100,000 |
NSTAR Electric Company [Member] | Other Regulatory Liabilities [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 28,900,000 | 31,100,000 |
Public Service Company Of New Hampshire [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 404,800,000 | 311,500,000 |
Regulatory Assets Current | 111,705,000 | 92,194,000 |
Regulatory Assets Long Term | 293,115,000 | 219,346,000 |
Regulatory Assets And Liabilities Other Disclosures Abstract | ||
Amount of Regulatory Costs Not yet Approved | 900,000 | |
Public Utilities Amount Of Allowance For Earnings On Equity Capitalized For Rate Making Purposes | 43,300,000 | 33,100,000 |
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 67,400,000 | 72,300,000 |
Regulatory Liability Current | 16,044,000 | 20,643,000 |
Regulatory Liabilities Long-Term | 51,372,000 | 51,723,000 |
Public Service Company Of New Hampshire [Member] | Cost Of Removal [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 50,300,000 | 49,700,000 |
Public Service Company Of New Hampshire [Member] | Regulatory Tracker Deferrals Regulatory Liabilities [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 14,200,000 | 21,600,000 |
Public Service Company Of New Hampshire [Member] | AFUDC Transmission Incentive [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 0 | 0 |
Public Service Company Of New Hampshire [Member] | Other Regulatory Liabilities [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 2,900,000 | 1,000,000 |
Western Massachusetts Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 198,200,000 | 189,100,000 |
Regulatory Assets Current | 51,923,000 | 43,024,000 |
Regulatory Assets Long Term | 146,307,000 | 146,088,000 |
Regulatory Assets And Liabilities Other Disclosures Abstract | ||
Amount of Regulatory Costs Not yet Approved | 11,000,000 | 10,100,000 |
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 33,300,000 | 33,800,000 |
Regulatory Liability Current | 22,486,000 | 19,858,000 |
Regulatory Liabilities Long-Term | 10,835,000 | 13,873,000 |
Western Massachusetts Electric Company [Member] | Cost Of Removal [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 1,100,000 | 0 |
Western Massachusetts Electric Company [Member] | Regulatory Tracker Deferrals Regulatory Liabilities [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 22,300,000 | 21,100,000 |
Western Massachusetts Electric Company [Member] | AFUDC Transmission Incentive [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 9,100,000 | 9,300,000 |
Western Massachusetts Electric Company [Member] | Other Regulatory Liabilities [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 800,000 | 3,400,000 |
CYAPC and YAEC [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 97,800,000 | 129,800,000 |
Benefit Costs [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 2,016,000,000 | 1,240,200,000 |
Benefit Costs [Member] | The Connecticut Light And Power Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 445,400,000 | 297,700,000 |
Benefit Costs [Member] | NSTAR Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 515,900,000 | 496,700,000 |
Benefit Costs [Member] | Public Service Company Of New Hampshire [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 174,300,000 | 100,600,000 |
Benefit Costs [Member] | Western Massachusetts Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 85,000,000 | 57,300,000 |
Regulatory Assets Offsetting Derivative Liabilities [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 425,500,000 | 638,000,000 |
Regulatory Assets Offsetting Derivative Liabilities [Member] | The Connecticut Light And Power Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 410,900,000 | 630,400,000 |
Regulatory Assets Offsetting Derivative Liabilities [Member] | NSTAR Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 4,500,000 | 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 | 635,300,000 | 626,200,000 |
Deferred Income Tax Charges Member | The Connecticut Light And Power Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 437,700,000 | 415,500,000 |
Deferred Income Tax Charges Member | NSTAR Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 83,700,000 | 84,000,000 |
Deferred Income Tax Charges Member | Public Service Company Of New Hampshire [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 38,000,000 | 40,300,000 |
Deferred Income Tax Charges Member | Western Massachusetts Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 35,500,000 | 43,700,000 |
Storm Restoration Costs [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 502,800,000 | 589,600,000 |
Storm Restoration Costs [Member] | The Connecticut Light And Power Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 319,600,000 | 397,800,000 |
Storm Restoration Costs [Member] | NSTAR Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 103,700,000 | 109,300,000 |
Storm Restoration Costs [Member] | Public Service Company Of New Hampshire [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 47,700,000 | 43,700,000 |
Storm Restoration Costs [Member] | Western Massachusetts Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 31,800,000 | 38,800,000 |
Goodwill Regulatory Asset [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 505,400,000 | 525,900,000 |
Goodwill Regulatory Asset [Member] | NSTAR Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 433,900,000 | 451,500,000 |
Regulatory Tracker Deferrals Regulatory Assets [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 350,500,000 | 323,400,000 |
Regulatory Tracker Deferrals Regulatory Assets [Member] | The Connecticut Light And Power Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 16,100,000 | 8,000,000 |
Regulatory Tracker Deferrals Regulatory Assets [Member] | NSTAR Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 141,400,000 | 169,500,000 |
Regulatory Tracker Deferrals Regulatory Assets [Member] | Public Service Company Of New Hampshire [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 103,500,000 | 83,300,000 |
Regulatory Tracker Deferrals Regulatory Assets [Member] | Western Massachusetts Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 33,000,000 | 32,600,000 |
Unrecovered Contractual Obligations [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 123,800,000 | 154,200,000 |
Power Contracts Buy Out Agreements [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 42,600,000 | 70,200,000 |
Power Contracts Buy Out Agreements [Member] | NSTAR Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 38,600,000 | 64,700,000 |
Power Contracts Buy Out Agreements [Member] | Public Service Company Of New Hampshire [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 4,000,000 | 5,500,000 |
Other Regulatory Assets [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 124,700,000 | 126,800,000 |
Other Regulatory Assets [Member] | The Connecticut Light And Power Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 66,100,000 | 64,600,000 |
Other Regulatory Assets [Member] | NSTAR Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 56,100,000 | 55,900,000 |
Other Regulatory Assets [Member] | Public Service Company Of New Hampshire [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 37,300,000 | 38,100,000 |
Other Regulatory Assets [Member] | Western Massachusetts Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | $12,900,000 | $16,700,000 |
PROPERTY_PLANT_AND_ACCUMULATED2
PROPERTY, PLANT AND ACCUMULATED DEPRECIATION (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Public Utility Property Plant And Equipment [Line Items] | |||
Public Utilities Property Plant And Equipment Distribution | $12,495,200,000 | $11,950,200,000 | |
Public Utilities Property Plant And Equipment Distribution Natural Gas | 2,595,400,000 | 2,425,900,000 | |
Public Utilities Property Plant And Equipment Transmission | 6,930,700,000 | 6,412,500,000 | |
Public Utilities Property Plant And Equipment Generation Or Processing | 1,170,900,000 | 1,152,300,000 | |
Public Utilities Property Plant And Equipment Electric And Natural Gas Utility Total | 23,192,200,000 | 21,940,900,000 | |
Public Utilities Property Plant And Equipment Other Property Plant And Equipment | 551,300,000 | 508,700,000 | |
Public Utilities Property Plant And Equipment Plant In Service | 23,743,500,000 | 22,449,600,000 | |
Electric And Natural Gas Utility Accumulated Depreciation | -5,777,800,000 | -5,387,000,000 | |
Other Accumulated Depreciation | -231,800,000 | -196,200,000 | |
Public Utilities, Property, Plant and Equipment, Accumulated Depreciation | -6,009,600,000 | -5,583,200,000 | |
Property Plant And Equipment Net Excluding Construction Work In Progress | 17,733,900,000 | 16,866,400,000 | |
Public Utilities Property Plant And Equipment Construction Work In Progress | 913,100,000 | 709,800,000 | |
Property, Plant and Equipment, Net | 18,647,041,000 | 17,576,186,000 | |
Public Utilities Property Plant and Equipment Depreciation Rates | 3.00% | 2.80% | 2.50% |
Useful Lives [Abstract] | |||
Distribution Assets Average Useful Life | 34.9 | ||
Transmission Assets Average Useful Life | 42.5 | ||
Generation Assets Average Useful Life | 31.9 | ||
Other Assets Average Useful Life | 14.2 | ||
The Connecticut Light And Power Company [Member] | |||
Public Utility Property Plant And Equipment [Line Items] | |||
Public Utilities Property Plant And Equipment Distribution | 5,158,800,000 | 4,930,700,000 | |
Public Utilities Property Plant And Equipment Transmission | 3,274,000,000 | 3,071,900,000 | |
Public Utilities Property Plant And Equipment Generation Or Processing | 0 | 0 | |
Public Utilities Property Plant And Equipment Plant In Service | 8,432,800,000 | 8,002,600,000 | |
Public Utilities, Property, Plant and Equipment, Accumulated Depreciation | -1,928,000,000 | -1,804,100,000 | |
Property Plant And Equipment Net Excluding Construction Work In Progress | 6,504,800,000 | 6,198,500,000 | |
Public Utilities Property Plant And Equipment Construction Work In Progress | 304,900,000 | 252,800,000 | |
Property, Plant and Equipment, Net | 6,809,664,000 | 6,451,259,000 | |
Public Utilities Property Plant and Equipment Depreciation Rates | 2.70% | 2.50% | 2.50% |
Useful Lives [Abstract] | |||
Distribution Assets Average Useful Life | 37.5 | ||
Transmission Assets Average Useful Life | 39.8 | ||
Generation Assets Average Useful Life | 0 | ||
Other Assets Average Useful Life | 0 | ||
NSTAR Electric Company [Member] | |||
Public Utility Property Plant And Equipment [Line Items] | |||
Public Utilities Property Plant And Equipment Distribution | 4,895,500,000 | 4,694,700,000 | |
Public Utilities Property Plant And Equipment Transmission | 1,928,500,000 | 1,772,300,000 | |
Public Utilities Property Plant And Equipment Generation Or Processing | 0 | 0 | |
Public Utilities Property Plant And Equipment Plant In Service | 6,824,000,000 | 6,467,000,000 | |
Public Utilities, Property, Plant and Equipment, Accumulated Depreciation | -1,761,400,000 | -1,631,300,000 | |
Property Plant And Equipment Net Excluding Construction Work In Progress | 5,062,600,000 | 4,835,700,000 | |
Public Utilities Property Plant And Equipment Construction Work In Progress | 272,800,000 | 208,200,000 | |
Property, Plant and Equipment, Net | 5,335,436,000 | 5,043,887,000 | |
Public Utilities Property Plant and Equipment Depreciation Rates | 3.00% | 2.90% | 2.80% |
Useful Lives [Abstract] | |||
Distribution Assets Average Useful Life | 32.3 | ||
Transmission Assets Average Useful Life | 44 | ||
Generation Assets Average Useful Life | 0 | ||
Other Assets Average Useful Life | 0 | ||
Public Service Company Of New Hampshire [Member] | |||
Public Utility Property Plant And Equipment [Line Items] | |||
Public Utilities Property Plant And Equipment Distribution | 1,696,700,000 | 1,608,200,000 | |
Public Utilities Property Plant And Equipment Transmission | 789,700,000 | 695,700,000 | |
Public Utilities Property Plant And Equipment Generation Or Processing | 1,136,500,000 | 1,131,200,000 | |
Public Utilities Property Plant And Equipment Plant In Service | 3,622,900,000 | 3,435,100,000 | |
Public Utilities, Property, Plant and Equipment, Accumulated Depreciation | -1,090,000,000 | -1,021,800,000 | |
Property Plant And Equipment Net Excluding Construction Work In Progress | 2,532,900,000 | 2,413,300,000 | |
Public Utilities Property Plant And Equipment Construction Work In Progress | 102,900,000 | 54,300,000 | |
Property, Plant and Equipment, Net | 2,635,844,000 | 2,467,556,000 | |
Public Utilities Property Plant and Equipment Depreciation Rates | 3.00% | 3.00% | 3.00% |
Useful Lives [Abstract] | |||
Distribution Assets Average Useful Life | 32.3 | ||
Transmission Assets Average Useful Life | 43.7 | ||
Generation Assets Average Useful Life | 32.1 | ||
Other Assets Average Useful Life | 0 | ||
Western Massachusetts Electric Company [Member] | |||
Public Utility Property Plant And Equipment [Line Items] | |||
Public Utilities Property Plant And Equipment Distribution | 784,200,000 | 756,600,000 | |
Public Utilities Property Plant And Equipment Transmission | 891,000,000 | 826,400,000 | |
Public Utilities Property Plant And Equipment Generation Or Processing | 34,400,000 | 21,100,000 | |
Public Utilities Property Plant And Equipment Plant In Service | 1,709,600,000 | 1,604,100,000 | |
Public Utilities, Property, Plant and Equipment, Accumulated Depreciation | -297,400,000 | -271,500,000 | |
Property Plant And Equipment Net Excluding Construction Work In Progress | 1,412,200,000 | 1,332,600,000 | |
Public Utilities Property Plant And Equipment Construction Work In Progress | 49,100,000 | 48,500,000 | |
Property, Plant and Equipment, Net | $1,461,321,000 | $1,381,060,000 | |
Public Utilities Property Plant and Equipment Depreciation Rates | 3.30% | 2.90% | 3.30% |
Useful Lives [Abstract] | |||
Distribution Assets Average Useful Life | 30.9 | ||
Transmission Assets Average Useful Life | 49.9 | ||
Generation Assets Average Useful Life | 25 | ||
Other Assets Average Useful Life | 0 |
DERIVATIVE_INSTURMENTS_Details
DERIVATIVE INSTURMENTS (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Derivative Instrument Detail Abstract | |||
Derivative Liabilities, Noncurrent | ($409,632,000) | ($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 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 December 31, 2014 and 2013, NU had NYMEX future contracts in order to reduce variability associated with the purchase price of approximately 8.8 million and 9.1 million MMBtu of natural gas, respectively. | ||
Derivative Credit Risk Related Contingent Features Abstract | |||
Derivative Net Liability Position Aggregate Fair Value | -10,000,000 | ||
Additional Collateral Aggregate Fair Value | 10,000,000 | ||
FairValueInputsQuantitativeInformation[Abstract] | |||
FairValueInputsExitPricePremium | Exit price premiums of 7 percent through 24 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 | -88,459,000 | -92,233,000 | |
Derivative Liabilities, Noncurrent | -406,199,000 | -617,072,000 | |
Derivative Assets Subject to Credit Risk with investment grade counterparty | 64,000,000 | ||
Fair Value Inputs Level 2 [Member] | |||
Derivative Instrument Detail Abstract | |||
Derivative Assets - Current | 1,600,000 | ||
Derivative Liabilities - Current | -9,800,000 | ||
Derivative Liabilities, Noncurrent | -300,000 | ||
Derivative Assets Noncurrent | 0 | 200,000 | |
Fair Value Inputs Level 3 [Member] | |||
Derivative Instrument Detail Abstract | |||
Derivative Assets - Current | 9,600,000 | 8,600,000 | |
Derivative Liabilities - Current | -93,700,000 | ||
Derivative Liabilities, Noncurrent | -409,300,000 | -624,100,000 | |
Derivative Assets Noncurrent | 74,300,000 | 74,000,000 | |
Consolidated Current Derivative Liabilities | 90,000,000 | ||
Fair Value Inputs Level 3 [Member] | MinimumMember | |||
FairValueInputsQuantitativeInformation[Abstract] | |||
FairValueInputsCapacityPrices | 5.3 | 5.07 | |
FairValueInputsEnergyPrices | 49 | ||
FairValueInputsRenewableEnergyCreditPrices | 38 | 36 | |
FairValueInputsForwardReserve | 5.8 | 3.3 | |
Fair Value Inputs Level 3 [Member] | MaximumMember | |||
FairValueInputsQuantitativeInformation[Abstract] | |||
FairValueInputsCapacityPrices | 12.98 | 11.82 | |
FairValueInputsEnergyPrices | 77 | ||
FairValueInputsRenewableEnergyCreditPrices | 56 | 87 | |
FairValueInputsForwardReserve | 9.5 | 3.3 | |
Fair Value Inputs Level 3 [Member] | The Connecticut Light And Power Company [Member] | |||
Derivative Instrument Detail Abstract | |||
Derivative Assets - Current | 9,500,000 | 7,300,000 | |
Derivative Liabilities - Current | -88,500,000 | -92,200,000 | |
Derivative Liabilities, Noncurrent | -406,200,000 | -617,100,000 | |
Derivative Assets Noncurrent | 74,300,000 | 71,400,000 | |
Fair Value Inputs Level 3 [Member] | The Connecticut Light And Power Company [Member] | MinimumMember | |||
FairValueInputsQuantitativeInformation[Abstract] | |||
FairValueInputsCapacityPrices | 11.08 | 5.07 | |
FairValueInputsEnergyPrices | 56 | ||
FairValueInputsForwardReserve | 5.8 | 3.3 | |
Fair Value Inputs Level 3 [Member] | The Connecticut Light And Power Company [Member] | MaximumMember | |||
FairValueInputsQuantitativeInformation[Abstract] | |||
FairValueInputsCapacityPrices | 12.98 | 10.42 | |
FairValueInputsEnergyPrices | 58 | ||
FairValueInputsForwardReserve | 9.5 | 3.3 | |
Fair Value Inputs Level 3 [Member] | NSTAR Electric Company [Member] | |||
Derivative Instrument Detail Abstract | |||
Derivative Assets - Current | 100,000 | 1,200,000 | |
Derivative Liabilities - Current | -1,500,000 | -1,500,000 | |
Derivative Liabilities, Noncurrent | -3,100,000 | -7,000,000 | |
Fair Value Inputs Level 3 [Member] | NSTAR Electric Company [Member] | MinimumMember | |||
FairValueInputsQuantitativeInformation[Abstract] | |||
FairValueInputsCapacityPrices | 5.3 | 5.07 | |
FairValueInputsRenewableEnergyCreditPrices | 38 | 36 | |
Fair Value Inputs Level 3 [Member] | NSTAR Electric Company [Member] | MaximumMember | |||
FairValueInputsQuantitativeInformation[Abstract] | |||
FairValueInputsCapacityPrices | 11.1 | 7.38 | |
FairValueInputsRenewableEnergyCreditPrices | 56 | 70 | |
Amount Offset Against Derivatives [Member] | Fair Value Inputs Level 2 [Member] | |||
Derivative Instrument Detail Abstract | |||
Derivative Assets - Current | -300,000 | ||
Amount Offset Against Derivatives [Member] | Fair Value Inputs Level 3 [Member] | |||
Derivative Instrument Detail Abstract | |||
Derivative Assets - Current | -6,600,000 | -9,800,000 | |
Derivative Assets Noncurrent | -19,200,000 | -42,200,000 | |
Amount Offset Against Derivatives [Member] | Fair Value Inputs Level 3 [Member] | The Connecticut Light And Power Company [Member] | |||
Derivative Instrument Detail Abstract | |||
Derivative Assets - Current | -6,600,000 | -9,800,000 | |
Derivative Liabilities, Noncurrent | 0 | ||
Derivative Assets Noncurrent | -19,200,000 | -42,200,000 | |
Commodity [Member] | |||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net Abstract | |||
Derivative Gain Loss On Derivative Net | 0 | 1,000,000 | -700,000 |
Derivative Instruments Gain Loss Recognized In Regulatory Asset Liability | 134,400,000 | 160,600,000 | -29,000,000 |
Commodity [Member] | Fair Value Inputs Level 2 [Member] | |||
Derivative Instrument Detail Abstract | |||
Derivative Assets - Current | 1,900,000 | ||
Derivative Liabilities - Current | -9,800,000 | ||
Derivative Liabilities, Noncurrent | -300,000 | ||
Derivative Assets Noncurrent | 0 | 200,000 | |
Commodity [Member] | Fair Value Inputs Level 3 [Member] | |||
Derivative Instrument Detail Abstract | |||
Derivative Assets - Current | 16,200,000 | 18,400,000 | |
Derivative Liabilities - Current | -90,000,000 | -93,700,000 | |
Derivative Liabilities, Noncurrent | -409,300,000 | -624,100,000 | |
Derivative Assets Noncurrent | 93,500,000 | 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 | 16,100,000 | 17,100,000 | |
Derivative Liabilities - Current | -88,500,000 | -92,200,000 | |
Derivative Liabilities, Noncurrent | -406,200,000 | -617,100,000 | |
Derivative Assets Noncurrent | 93,500,000 | 113,600,000 | |
Commodity [Member] | Fair Value Inputs Level 3 [Member] | NSTAR Electric Company [Member] | |||
Derivative Instrument Detail Abstract | |||
Derivative Assets - Current | 100,000 | 1,200,000 | |
Derivative Liabilities - Current | -1,500,000 | -1,500,000 | |
Derivative Liabilities, Noncurrent | ($3,100,000) | ($7,000,000) |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Beginning Balance | ($635.20) | ($878.60) |
Net Realized/Unrealized Gains Losses included in Net Income | 10.9 | |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Liability Gain Loss Included In Reg Asset Liability | 141.3 | 158.3 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements | 78.5 | 74.2 |
Ending Balance | -415.4 | -635.2 |
The Connecticut Light And Power Company [Member] | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Beginning Balance | -630.6 | -866.2 |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Liability Gain Loss Included In Reg Asset Liability | 139.7 | 148.9 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements | 80 | 86.7 |
Ending Balance | -410.9 | -630.6 |
NSTAR Electric Company [Member] | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Beginning Balance | -7.3 | -14.9 |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Liability Gain Loss Included In Reg Asset Liability | 4.3 | 3.5 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements | -1.5 | 4.1 |
Ending Balance | ($4.50) | ($7.30) |
MARKETABLE_SECURITIES_Details
MARKETABLE SECURITIES (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Schedule Of Available For Sale Securities [Line Items] | |||
Fair Value Of Securities Under Fair Value Option | $85.10 | $57.20 | |
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 1.9 | 10.2 | 5.9 |
Investments, Debt and Equity Securities [Abstract] | |||
Marketable Securities, Restricted | 450.8 | 424 | |
Available For Sale Securities Debt Maturities Fair Value Abstract | |||
Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value | 67.7 | ||
Available For Sale Securities Debt Maturities After Ten Years Fair Value | 108.4 | ||
Available For Sale Securities Debt Maturities After One Year Through Five Years Fair Value | 89.1 | ||
Available For Sale Securities Debt Maturities Within One Year Fair Value | 55 | ||
Available For Sale Securities Debt Maturities Fair Value | 320.2 | ||
Available For Sale Securities Debt Maturities Amortized Cost Abstract | |||
Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost | 88.8 | ||
Available For Sale Securities Debt Maturities Within One Year Amortized Cost | 55 | ||
Available For Sale Securities Debt Maturities After Ten Years Amortized Cost | 103.2 | ||
Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost | 66 | ||
Available For Sale Securities Debt Maturities Amortized Cost | 313 | ||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | |||
Investments Fair Value Disclosure | 639.2 | 580.9 | |
Western Massachusetts Electric Company [Member] | |||
Available For Sale Securities Debt Maturities Fair Value Abstract | |||
Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value | 0.7 | ||
Available For Sale Securities Debt Maturities After Ten Years Fair Value | 2.9 | ||
Available For Sale Securities Debt Maturities After One Year Through Five Years Fair Value | 25.8 | ||
Available For Sale Securities Debt Maturities Within One Year Fair Value | 28.7 | ||
Available For Sale Securities Debt Maturities Fair Value | 58.1 | ||
Available For Sale Securities Debt Maturities Amortized Cost Abstract | |||
Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost | 25.8 | ||
Available For Sale Securities Debt Maturities Within One Year Amortized Cost | 28.7 | ||
Available For Sale Securities Debt Maturities After Ten Years Amortized Cost | 3 | ||
Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost | 0.7 | ||
Available For Sale Securities Debt Maturities Amortized Cost | 58.2 | ||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | |||
Investments Fair Value Disclosure | 58.1 | 57.9 | |
Fair Value Inputs Level 1 Member | |||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | |||
Investments Fair Value Disclosure | 343.9 | 314.2 | |
Fair Value Inputs Level 1 Member | Western Massachusetts Electric Company [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | |||
Investments Fair Value Disclosure | 4.3 | 10.9 | |
Fair Value Inputs Level 2 [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | |||
Investments Fair Value Disclosure | 295.3 | 266.7 | |
Fair Value Inputs Level 2 [Member] | Western Massachusetts Electric Company [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | |||
Investments Fair Value Disclosure | 53.8 | 47 | |
US Government Debt Securities Member | Fair Value Inputs Level 2 [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | |||
Investments Fair Value Disclosure | 51.3 | 61.4 | |
US Government Debt Securities Member | Fair Value Inputs Level 2 [Member] | Western Massachusetts Electric Company [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | |||
Investments Fair Value Disclosure | 0 | 6.8 | |
Corporate Bond Securities Member | Fair Value Inputs Level 2 [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | |||
Investments Fair Value Disclosure | 49.1 | 53.6 | |
Corporate Bond Securities Member | Fair Value Inputs Level 2 [Member] | Western Massachusetts Electric Company [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | |||
Investments Fair Value Disclosure | 14.7 | 15.1 | |
Asset Backed Securities Member | Fair Value Inputs Level 2 [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | |||
Investments Fair Value Disclosure | 54.1 | 30.4 | |
Asset Backed Securities Member | Fair Value Inputs Level 2 [Member] | Western Massachusetts Electric Company [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | |||
Investments Fair Value Disclosure | 14.5 | 9 | |
Municipal Bonds Member | Fair Value Inputs Level 2 [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | |||
Investments Fair Value Disclosure | 116.3 | 105.5 | |
Municipal Bonds Member | Fair Value Inputs Level 2 [Member] | Western Massachusetts Electric Company [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | |||
Investments Fair Value Disclosure | 13 | 11.2 | |
Other Debt Securities Member | Fair Value Inputs Level 2 [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | |||
Investments Fair Value Disclosure | 24.5 | 15.8 | |
Other Debt Securities Member | Fair Value Inputs Level 2 [Member] | Western Massachusetts Electric Company [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | |||
Investments Fair Value Disclosure | 11.6 | 4.9 | |
Cash And Cash Equivalents Member | Fair Value Inputs Level 1 Member | |||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | |||
Investments Fair Value Disclosure | 24.9 | 32.9 | |
Cash And Cash Equivalents Member | Fair Value Inputs Level 1 Member | Western Massachusetts Electric Company [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | |||
Investments Fair Value Disclosure | 4.3 | 10.9 | |
Mutual Funds [Member] | Fair Value Inputs Level 1 Member | |||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | |||
Investments Fair Value Disclosure | 319 | 281.3 | |
Debt Securities | |||
Investments, Debt and Equity Securities [Abstract] | |||
Available For Sale Securities Fair Value Disclosure | 320.2 | 299.6 | |
Available-for-sale Securities, Gross Unrealized Gains | 7.5 | 2.5 | |
AvailableForSaleSecuritiesGrossUnrealizedLoss | 0.3 | 2.1 | |
Available For Sale Securities Amortized Cost | 313 | 299.2 | |
Debt Securities | Western Massachusetts Electric Company [Member] | |||
Investments, Debt and Equity Securities [Abstract] | |||
Available For Sale Securities Fair Value Disclosure | 58.1 | 57.9 | |
Available-for-sale Securities, Gross Unrealized Gains | 0 | 0 | |
AvailableForSaleSecuritiesGrossUnrealizedLoss | 0.1 | 0 | |
Available For Sale Securities Amortized Cost | 58.2 | 57.9 | |
Equity Securities | |||
Investments, Debt and Equity Securities [Abstract] | |||
Available For Sale Securities Fair Value Disclosure | 233.9 | 224.1 | |
Available-for-sale Securities, Gross Unrealized Gains | 73.3 | 60.5 | |
AvailableForSaleSecuritiesGrossUnrealizedLoss | 0 | 0 | |
Available For Sale Securities Amortized Cost | $160.60 | $163.60 |
ASSET_RETIREMENT_OBLIGATIONS_D
ASSET RETIREMENT OBLIGATIONS (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Asset Retirement Obligation, Beginning Balance | $424.90 | $412.20 |
Asset Retirement Obligation, Liabilities Incurred | 1.3 | 0.1 |
Asset Retirement Obligation, Liabilities Settled | -19.5 | -13.8 |
Asset Retirement Obligation, Accretion Expense | 25.1 | 23.8 |
Asset Retirement Obligation, Revision of Estimate | -5.5 | 2.6 |
Asset Retirement Obligation, Ending Balance | 426.3 | 424.9 |
The Connecticut Light And Power Company [Member] | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Asset Retirement Obligation, Beginning Balance | 35 | 33.6 |
Asset Retirement Obligation, Liabilities Settled | -1.1 | -0.7 |
Asset Retirement Obligation, Accretion Expense | 1.9 | 2.2 |
Asset Retirement Obligation, Revision of Estimate | -0.5 | -0.1 |
Asset Retirement Obligation, Ending Balance | 35.3 | 35 |
NSTAR Electric Company [Member] | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Asset Retirement Obligation, Beginning Balance | 32.8 | 31.4 |
Asset Retirement Obligation, Liabilities Settled | 0 | -0.1 |
Asset Retirement Obligation, Accretion Expense | 1.5 | 1.5 |
Asset Retirement Obligation, Revision of Estimate | 0 | |
Asset Retirement Obligation, Ending Balance | 34.3 | 32.8 |
Public Service Company Of New Hampshire [Member] | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Asset Retirement Obligation, Beginning Balance | 19.5 | 18.4 |
Asset Retirement Obligation, Liabilities Incurred | 0 | |
Asset Retirement Obligation, Accretion Expense | 1.1 | 1.2 |
Asset Retirement Obligation, Revision of Estimate | 0 | |
Asset Retirement Obligation, Ending Balance | 20.6 | 19.5 |
Western Massachusetts Electric Company [Member] | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Asset Retirement Obligation, Beginning Balance | 4.5 | 4.3 |
Asset Retirement Obligation, Liabilities Incurred | 1.1 | |
Asset Retirement Obligation, Accretion Expense | 0.3 | 0.3 |
Asset Retirement Obligation, Revision of Estimate | 0 | |
Asset Retirement Obligation, Ending Balance | 5.9 | 4.5 |
CYAPC and YAEC [Member] | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
Asset Retirement Obligation, Ending Balance | $317.30 | $318.80 |
SHORT_TERM_DEBT_Details
SHORT TERM DEBT (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Line of Credit Facility [Line Items] | ||
Line of Credit Facility, Description | Credit Agreements and Commercial Paper Programs: NU parent, CL&P, PSNH, WMECO, NSTAR Gas and Yankee Gas are parties to a five-year $1.45 billion revolving credit facility. 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. Effective July 23, 2014, NU parent, CL&P, PSNH, WMECO, NSTAR Gas and Yankee Gas extended the expiration date of their joint revolving credit facility for one additional year to September 6, 2019. CL&P has a borrowing sublimit of $600 million and PSNH and WMECO each have borrowing sublimits of $300 million. As of December 31, 2014 and 2013, NU had approximately $1.1 billion and $1.01 billion, respectively, in short-term borrowings outstanding under the NU parent commercial paper program, leaving $348.9 million and $435.5 million of available borrowing capacity as of December 31, 2014 and 2013, respectively. The weighted-average interest rate on these borrowings as of December 31, 2014 and 2013 was 0.43 percent and 0.24 percent, respectively, which is generally based on A2/P2 rated commercial paper. As of December 31, 2014, there were intercompany loans from NU of $133.4 million to CL&P, $90.5 million to PSNH and $21.4 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. NSTAR Electric has a five-year $450 million revolving credit facility. This facility serves to backstop NSTAR Electric’s existing $450 million commercial paper program. Effective July 23, 2014, NSTAR Electric extended the expiration date of its revolving credit facility for one additional year to September 6, 2019. As of December 31, 2014 and 2013, NSTAR Electric had $302 million and $103.5 million, respectively, in short-term borrowings outstanding under its commercial paper program, leaving $148 million and $346.5 million of available borrowing capacity as of December 31, 2014 and 2013, respectively. The weighted-average interest rate on these borrowings as of December 31, 2014 and 2013 was 0.27 percent and 0.13 percent, respectively, which is generally based on A2/P1 rated commercial paper. | |
Short Term Debt Regulatory Limits | The amount of short-term borrowings that may be incurred by CL&P, NSTAR Electric and WMECO is subject to periodic approval by the FERC. As a result of the NHPUC having jurisdiction over PSNH's short-term debt, PSNH is not currently required to obtain FERC approval for its short-term borrowings. On July 31, 2013, the FERC granted authorization to allow CL&P and WMECO to incur total short-term borrowings up to a maximum of $600 million and $300 million, respectively, effective January 1, 2014 through December 31, 2015. On June 11, 2014, the FERC granted authorization to allow NSTAR Electric to issue total short-term debt securities in an aggregate principal amount not to exceed $655 million outstanding at any one time, effective October 24, 2014 through October 23, 2016. CL&P's certificate of incorporation contains preferred stock provisions restricting the amount of unsecured debt that CL&P may incur, including limiting unsecured indebtedness with a maturity of less than 10 years to 10 percent of total capitalization. As of December 31, 2014, CL&P had $432.1 million of unsecured debt capacity available under this authorization. | |
Description of ST debt reclassified to LT | On January 15, 2015, NU parent issued $150 million of 1.60 percent Series G Senior Notes due to mature in 2018 and $300 million of 3.15 percent Series H Senior Notes, due to mature in 2025. The proceeds, net of issuance costs, were used to repay short-term borrowings outstanding under the NU commercial paper program. As the debt issuances refinanced short-term debt, the short-term debt was classified as Long-Term Debt as of December 31, 2014. | On January 2, 2014, Yankee Gas issued $100 million of Series L First Mortgage Bonds and $25 million of the proceeds was used to repay short-term borrowings outstanding under the NU commercial paper program. As the debt issuance refinanced short-term debt, these amounts were classified as Long-Term Debt on NU's balance sheet as of December 31, 2013. |
Notes Payable | $956,825,000 | $1,093,000,000 |
The Connecticut Light And Power Company [Member] | ||
Line of Credit Facility [Line Items] | ||
Notes Payable To Affiliated Companies | 133,400,000 | 287,300,000 |
NSTAR Electric Company [Member] | ||
Line of Credit Facility [Line Items] | ||
Line of Credit Facility, Remaining Borrowing Capacity | 148,000,000 | 346,500,000 |
CommercialPaper | 302,000,000 | 103,500,000 |
WeightedAverageDiscountRatePercent | 0.27% | 0.13% |
Notes Payable | 302,000,000 | 103,500,000 |
Public Service Company Of New Hampshire [Member] | ||
Line of Credit Facility [Line Items] | ||
Notes Payable To Affiliated Companies | 90,500,000 | 86,500,000 |
Western Massachusetts Electric Company [Member] | ||
Line of Credit Facility [Line Items] | ||
Notes Payable To Affiliated Companies | 21,400,000 | 0 |
Nu Parent [Member] | ||
Line of Credit Facility [Line Items] | ||
Line of Credit Facility, Remaining Borrowing Capacity | 348,900,000 | 435,500,000 |
CommercialPaper | 1,100,000,000 | 1,010,000,000 |
WeightedAverageDiscountRatePercent | 0.43% | 0.24% |
Notes Payable | $654,825,000 | $1,014,500,000 |
LONGTERM_DEBT_Details
LONG-TERM DEBT (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Debt Instrument [Line Items] | ||
Long-Term Debt - Current Portion | $245,583,000 | $533,346,000 |
Long-Term Debt | 8,606,017,000 | 7,776,833,000 |
Maturities of Long-term Debt [Abstract] | ||
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 216,700,000 | |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 200,000,000 | |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 745,000,000 | |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 810,000,000 | |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 800,000,000 | |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 4,956,600,000 | |
LongTermDebtMaturitiesRepaymentsOfPrincipalTotal | 7,728,300,000 | |
Long-term Debt, Description | On September 15, 2014, CL&P repaid at maturity the $150 million of 4.80 percent 2004 Series A First Mortgage Bonds, using short-term borrowings. 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 February 12, 2015, CL&P notified the trustee that it intends to purchase and cancel the bonds on April 1, 2015, after they have been tendered by the bondholders. 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. As of December 31, 2014 and 2013, the interest rate was 0.4721 percent and 0.478 percent, respectively. 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 October 14, 2014, PSNH issued $75 million of first mortgage bonds at a yield of 3.144 percent due to mature in 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. The proceeds, net of issuance costs, were used to repay short-term borrowings. 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, these amounts were classified as Long-Term Debt on NU's balance sheet as of December 31, 2013. On January 15, 2015, NU parent issued $150 million of 1.60 percent Series G Senior Notes due to mature in 2018 and $300 million of 3.15 percent Series H Notes, due to mature in 2025. The proceeds, net of issuance costs, were used to repay short-term borrowings outstanding under the NU commercial paper program. As the debt issuances refinanced short-term debt, the short-term debt was classified as Long-Term Debt as of December 31, 2014. Amount relates to the purchase price adjustment required to record the NSTAR long-term debt at fair value on the date of the merger. 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 October 14, 2014, PSNH issued $75 million of first mortgage bonds at a yield of 3.144 percent due to mature in 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. The proceeds, net of issuance costs, were used to repay short-term borrowings. The DOE is responsible for the selection and development of repositories for, and the disposal of, spent nuclear fuel and high-level radioactive waste. For nuclear fuel used to generate electricity prior to April 7, 1983 (Prior Period Spent Nuclear Fuel) for CL&P and WMECO, an accrual has been recorded for the full liability, and payment must be made by CL&P and WMECO to the DOE prior to the first delivery of spent fuel to the DOE. After the sale of Millstone, CL&P and WMECO remained responsible for their share of the disposal costs associated with the Prior Period Spent Nuclear Fuel. Until such payment to the DOE is made, the outstanding liability will continue to accrue interest at the 3-month Treasury bill yield rate. In addition, as a result of consolidating CYAPC, NU has consolidated $179.4 million in additional spent nuclear fuel obligations, including interest, as of both December 31, 2014 and 2013. The obligation due to the DOE for the disposal of CL&P's and WMECO's Prior Period Spent Nuclear Fuel and CYAPC's spent nuclear fuel obligation include accumulated interest costs of $350.4 million and $350.3 million ($178 million and $177.9 million for CL&P and $41.8 million and $41.7 million for WMECO) as of December 31, 2014 and 2013, respectively. | |
The Connecticut Light And Power Company [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt - Current Portion | 162,000,000 | 150,000,000 |
Long-Term Debt | 2,679,951,000 | 2,591,208,000 |
Maturities of Long-term Debt [Abstract] | ||
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 162,000,000 | |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 0 | |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 250,000,000 | |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 300,000,000 | |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 250,000,000 | |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 1,640,300,000 | |
LongTermDebtMaturitiesRepaymentsOfPrincipalTotal | 2,602,300,000 | |
Long-term Debt, Description | On September 15, 2014, CL&P repaid at maturity the $150 million of 4.80 percent 2004 Series A First Mortgage Bonds, using short-term borrowings. 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 February 12, 2015, CL&P notified the trustee that it intends to purchase and cancel the bonds on April 1, 2015, after they have been tendered by the bondholders. CL&P’s obligation to repay each series of PCRBs is secured by first mortgage bonds. Each such series of first mortgage bonds contains similar terms and provisions as the applicable series of PCRBs. If CL&P fails to meet its obligations under the first mortgage bonds, then the holder of the first mortgage bonds (the issuer of the PCRBs) would have rights under the first mortgage bonds. CL&P’s $62 million tax-exempt PCRBs, which are subject to mandatory tender for purchase on April 1, 2015 and carry a coupon rate of 1.55 percent during the current three-year fixed rate period, cannot be redeemed prior to its tender date. CL&P’s $120.5 million tax-exempt PCRBs will be subject to redemption at par on or after September 1, 2021. All other long-term debt securities are subject to make-whole provisions. | |
The Connecticut Light And Power Company [Member] | Series D 1994 Due 2024 7.875 % [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 139,800,000 | 139,800,000 |
The Connecticut Light And Power Company [Member] | Series A 2004 Due 2014 4.800% [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 0 | 150,000,000 |
The Connecticut Light And Power Company [Member] | Series B 2004 Due 2034 5.750% [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 130,000,000 | 130,000,000 |
The Connecticut Light And Power Company [Member] | Series A 2005 Due 2015 5.000% [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 100,000,000 | 100,000,000 |
The Connecticut Light And Power Company [Member] | Series B 2005 Due 2035 5.625% [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 100,000,000 | 100,000,000 |
The Connecticut Light And Power Company [Member] | Series A 2006 Due 2036 6.350% [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 250,000,000 | 250,000,000 |
The Connecticut Light And Power Company [Member] | Series A 2007 Due 2017 5.375% [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 150,000,000 | 150,000,000 |
The Connecticut Light And Power Company [Member] | Series B 2007 Due 2037 5.750% [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 150,000,000 | 150,000,000 |
The Connecticut Light And Power Company [Member] | Series D 2007 Due 2037 6.375% [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 100,000,000 | 100,000,000 |
The Connecticut Light And Power Company [Member] | Series A 2008 Due 2018 5.650% [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 300,000,000 | 300,000,000 |
The Connecticut Light And Power Company [Member] | Series A 2009 Due 2019 5.500% [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 250,000,000 | 250,000,000 |
The Connecticut Light And Power Company [Member] | One-Year Fixed Rate Tax Exempt Due 2031 [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 62,000,000 | 62,000,000 |
The Connecticut Light And Power Company [Member] | Fees And Interest Due For Spent Nuclear Fuel Disposal Costs [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 244,500,000 | 244,400,000 |
The Connecticut Light And Power Company [Member] | Total First Mortgage Bonds [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 2,419,800,000 | 2,319,800,000 |
The Connecticut Light And Power Company [Member] | Total Pollution Control Bonds [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 182,500,000 | 182,500,000 |
The Connecticut Light And Power Company [Member] | Unamortized Premiums and Discounts, Net [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | -4,800,000 | -5,500,000 |
The Connecticut Light And Power Company [Member] | Serires C 2007 5.750% Due 2017 [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 100,000,000 | 100,000,000 |
The Connecticut Light And Power Company [Member] | Fixed Rate 4.375% due 2028 [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 120,500,000 | 120,500,000 |
The Connecticut Light And Power Company [Member] | Series A Due 2023 2.5 percent [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 400,000,000 | 400,000,000 |
The Connecticut Light And Power Company [Member] | Series A 2014 Due 2044 4.30% [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 250,000,000 | |
NSTAR Electric Company [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt - Current Portion | 4,700,000 | 301,650,000 |
Long-Term Debt | 1,792,712,000 | 1,499,417,000 |
Maturities of Long-term Debt [Abstract] | ||
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 4,700,000 | |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 200,000,000 | |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 400,000,000 | |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 0 | |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 0 | |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 1,200,000,000 | |
LongTermDebtMaturitiesRepaymentsOfPrincipalTotal | 1,804,700,000 | |
Long-term Debt, Description | 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. As of December 31, 2014 and 2013, the interest rate was 0.4721 percent and 0.478 percent, respectively. | |
NSTAR Electric Company [Member] | Unamortized Premiums and Discounts, Net [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | -7,300,000 | -5,300,000 |
NSTAR Electric Company [Member] | Total Other [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 1,800,000,000 | 1,800,000,000 |
NSTAR Electric Company [Member] | Due 2014 4.875% [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 0 | 300,000,000 |
NSTAR Electric Company [Member] | Due 2022 2.375% [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 400,000,000 | 400,000,000 |
NSTAR Electric Company [Member] | Due 2017 5.625% [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 400,000,000 | 400,000,000 |
NSTAR Electric Company [Member] | Due 2036 5.75% [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 200,000,000 | 200,000,000 |
NSTAR Electric Company [Member] | Due 2040 5.5% [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 300,000,000 | 300,000,000 |
NSTAR Electric Company [Member] | TaxExempt Sewage Facility Revenue Bonds Due 2015 [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 4,700,000 | 6,400,000 |
NSTAR Electric Company [Member] | Variable Due 2016 [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 200,000,000 | 200,000,000 |
NSTAR Electric Company [Member] | Series Due 2044 2.375% [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 300,000,000 | |
Public Service Company Of New Hampshire [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt - Current Portion | 0 | 50,000,000 |
Long-Term Debt | 1,076,286,000 | 999,006,000 |
Maturities of Long-term Debt [Abstract] | ||
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 0 | |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 0 | |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 70,000,000 | |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 110,000,000 | |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 150,000,000 | |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 746,300,000 | |
LongTermDebtMaturitiesRepaymentsOfPrincipalTotal | 1,076,300,000 | |
Long-term Debt, Description | 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 October 14, 2014, PSNH issued $75 million of first mortgage bonds at a yield of 3.144 percent due to mature in 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. The proceeds, net of issuance costs, were used to repay short-term borrowings. PSNH's obligation to repay the PCRBs is secured by first mortgage bonds and bond insurance. The first mortgage bonds contain similar terms and provisions as the PCRBs. If PSNH fails to meet its obligations under the first mortgage bonds, then the holder of the first mortgage bonds (the issuer of the PCRBs) would have rights under the first mortgage bonds. The PSNH Series A tax-exempt PCRBs are currently callable at 100 percent of par. The PCRBs bear interest at a rate that is periodically set pursuant to auctions. PSNH is not obligated to purchase these PCRBs, which mature in 2021, from the remarketing agent. As of December 31, 2014 and 2013, the interest rate was 0.175 percent and 0.088 percent, respectively. | |
Public Service Company Of New Hampshire [Member] | Series L 2004 Due 2014 5.25% [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 0 | 50,000,000 |
Public Service Company Of New Hampshire [Member] | Series M 2005 Due 2035 5.60% [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 50,000,000 | 50,000,000 |
Public Service Company Of New Hampshire [Member] | Series N 2007 Due 2017 6.15% [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 70,000,000 | 70,000,000 |
Public Service Company Of New Hampshire [Member] | Series O 2008 Due 2018 6.00% [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 110,000,000 | 110,000,000 |
Public Service Company Of New Hampshire [Member] | Series P 2009 Due 2019 4.50% [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 150,000,000 | 150,000,000 |
Public Service Company Of New Hampshire [Member] | Adjustablerateseriesadue 2021 [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 89,300,000 | 89,300,000 |
Public Service Company Of New Hampshire [Member] | Total First Mortgage Bonds [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 987,000,000 | 962,000,000 |
Public Service Company Of New Hampshire [Member] | Total Pollution Control Bonds [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 89,300,000 | 89,300,000 |
Public Service Company Of New Hampshire [Member] | Unamortized Premiums and Discounts, Net [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 0 | -2,300,000 |
Public Service Company Of New Hampshire [Member] | Series Q 4.05% 2011 Due 2021 [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 122,000,000 | 122,000,000 |
Public Service Company Of New Hampshire [Member] | Series R 2011 3.30% due 2021 [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 160,000,000 | 160,000,000 |
Public Service Company Of New Hampshire [Member] | Series2013due2023member [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 325,000,000 | 250,000,000 |
Western Massachusetts Electric Company [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt - Current Portion | 50,000,000 | 0 |
Long-Term Debt | 578,471,000 | 629,389,000 |
Maturities of Long-term Debt [Abstract] | ||
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 50,000,000 | |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 0 | |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 0 | |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 0 | |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 0 | |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 515,000,000 | |
LongTermDebtMaturitiesRepaymentsOfPrincipalTotal | 565,000,000 | |
Western Massachusetts Electric Company [Member] | Senior Notes Series B 5.90% Due 2034 [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 50,000,000 | 50,000,000 |
Western Massachusetts Electric Company [Member] | Senior Notes Series C 5.24% Due 2015 [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 50,000,000 | 50,000,000 |
Western Massachusetts Electric Company [Member] | Senior Notes Series D 6.70% Due 2037 [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 40,000,000 | 40,000,000 |
Western Massachusetts Electric Company [Member] | Senior Notes Series E 5.10% Due 2020 [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 95,000,000 | 95,000,000 |
Western Massachusetts Electric Company [Member] | Fees And Interest Due For Spent Nuclear Fuel Disposal Costs [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 57,400,000 | 57,300,000 |
Western Massachusetts Electric Company [Member] | Unamortized Premiums and Discounts, Net [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 6,100,000 | 7,100,000 |
Western Massachusetts Electric Company [Member] | Senior Notes Series F 3.50% due 2021 [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 250,000,000 | 250,000,000 |
Western Massachusetts Electric Company [Member] | Total Pollution Control Notes and Other Notes [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 565,000,000 | 565,000,000 |
Western Massachusetts Electric Company [Member] | Series g 2013 due 2023 member [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 80,000,000 | 80,000,000 |
Yankee Gas Services Company [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 370,600,000 | 345,700,000 |
Yankee Gas Services Company [Member] | Total First Mortgage Bonds [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 370,000,000 | 345,000,000 |
Yankee Gas Services Company [Member] | Unamortized Premiums and Discounts, Net [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 600,000 | 700,000 |
Yankee Gas Services Company [Member] | Series B due 2022 8.48% [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 20,000,000 | 20,000,000 |
Yankee Gas Services Company [Member] | Series G due 2014 4.80% [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 0 | 75,000,000 |
Yankee Gas Services Company [Member] | Series H due 2019 5.26% [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 50,000,000 | 50,000,000 |
Yankee Gas Services Company [Member] | Series I due 2035 5.35% [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 50,000,000 | 50,000,000 |
Yankee Gas Services Company [Member] | Series J due 2018 6.90% [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 100,000,000 | 100,000,000 |
Yankee Gas Services Company [Member] | Series K due 2020 4.87% [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 50,000,000 | 50,000,000 |
Yankee Gas Services Company [Member] | Debentures 2014 Due 2044 4.40% [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 100,000,000 | |
NSTAR Gas Company [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 210,000,000 | 210,000,000 |
NSTAR Gas Company [Member] | Series J Due 202 9.95% [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 25,000,000 | 25,000,000 |
NSTAR Gas Company [Member] | Series K Due 2033 7.11% [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 35,000,000 | 35,000,000 |
NSTAR Gas Company [Member] | Series M Due 2017 7.04% [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 25,000,000 | 25,000,000 |
NSTAR Gas Company [Member] | Series N Due 2020 4.46% [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 125,000,000 | 125,000,000 |
Subsidiaries [Member] | Unamortized Premiums and Discounts, Net [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | -1,200,000 | -1,300,000 |
Subsidiaries [Member] | Fair Value Adjustment [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 202,300,000 | 230,700,000 |
Subsidiaries [Member] | Total Other [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 1,725,700,000 | 1,304,400,000 |
Subsidiaries [Member] | Commerical Paper and Revolver Borrowings [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 446,300,000 | 25,000,000 |
Subsidiaries [Member] | Debentures Due 2019 4.50% [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 350,000,000 | 350,000,000 |
Subsidiaries [Member] | Spent Nuclear Fuel Obilgation CY [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 179,400,000 | 179,400,000 |
Subsidiaries [Member] | FairValueAdjustmentMemberCurrentPortion [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 28,900,000 | 31,700,000 |
Subsidiaries [Member] | Series F Due 2023 2.8% [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | 450,000,000 | 450,000,000 |
Subsidiaries [Member] | Series E Due 2018 1.45% [Member] | ||
Debt Instrument [Line Items] | ||
Long-Term Debt | $300,000,000 | $300,000,000 |
PENSION_BENEFITS_AND_POSTRETIR1
PENSION BENEFITS AND POSTRETIREMENT BENEFITS OTHER THAN PENSIONS (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | |||
Accrued Pension, PBOP and SERP | $1,638,558,000 | $896,844,000 | |
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract] | |||
Defined Benefit Plan, Estimated Future Employer Contributions in Next Fiscal Year, Description | NU expects to make contributions of approximately $155 million in 2015, of which $5 million will be contributed by NSTAR Electric and $1 million will be contributed by PSNH. The remaining $149 million is expected to be contributed by other NU subsidiaries, primarily NUSCO. NU contributed $40 million to the PBOP Plans in 2014 and expects to make approximately $27 million in contributions in 2015. This amount will be funded into the 401(h) account and VEBAs up to the maximum tax-deductible level permitted | ||
Description of allocation of assets to subsidiaries | Effective January 1, 2013, the NSTAR Pension Plan assets were transferred into the NUSCO Pension Plan master trust. The NUSCO Pension Plan is entitled to approximately 66 percent of each asset category in the master trust, the NSTAR Pension Plan is entitled to approximately 30 percent of each asset category in the master trust and the 401(h) plans are entitled to approximately four percent of each asset category in the master trust. For the years ended December 31, 2014 and 2013 the NUSCO Pension Plan was entitled to $2,803.6 million and $2,750.4 million respectively and the NSTAR Pension Plan was entitled to $1,322.9 million and $1,235.3 million, respectively. Also effective January 1, 2013, the NSTAR PBOP Plan assets were transferred into a master trust with the NUSCO PBOP Plan assets and assets were allocated to each plan. For the years ended December 31, 2014 and 2013, the NUSCO PBOP Plan was entitled to $399 million and $391 million, respectively, and the NSTAR PBOP Plan was entitled to $463.6 million and $435.5 million, respectively. CL&P, PSNH and WMECO are allocated a portion of the NUSCO Pension and PBOP Plan assets. NSTAR Electric is entitled to a portion of the NSTAR Pension and PBOP Plan assets. | ||
Pension Plans Defined Benefit Member | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Benefit Obligation Beginning Balance | -4,676,500,000 | -5,022,800,000 | |
Defined Benefit Plan Service Cost | -79,900,000 | -102,300,000 | -84,300,000 |
Defined Benefit Plan Interest Cost | -225,700,000 | -206,700,000 | -198,300,000 |
Defined Benefit Plan, Actuarial Net (Gains) Losses | -739,600,000 | 433,600,000 | |
Defined Benefit Plan, Benefits Paid | 230,300,000 | 216,600,000 | |
Defined Benefit Plan, Payments SERP | 5,200,000 | 5,100,000 | |
Benefit Obligation Ending Balance | -5,486,200,000 | -4,676,500,000 | -5,022,800,000 |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Defined Benefit Plan Service Cost | 79,900,000 | 102,300,000 | 84,300,000 |
Defined Benefit Plan Interest Cost | 225,700,000 | 206,700,000 | 198,300,000 |
Defined Benefit Plan, Expected Return on Plan Assets | -310,800,000 | -278,100,000 | -220,900,000 |
Defined Benefit Plan, Amortization of Gains (Losses) | 128,400,000 | 210,500,000 | 172,400,000 |
Defined Benefit Plan Amortization Of Prior Service Cost Credit | 4,400,000 | 4,000,000 | 7,900,000 |
Defined Benefit Plan Net Periodic Benefit Cost | 127,600,000 | 245,400,000 | 242,000,000 |
Amount Capitalized Defined Benefit Expense | 35,200,000 | 73,200,000 | 70,600,000 |
us-gaap_DefinedBenefitPlanRecognizedNetGainLossDueToSettlementsAndCurtailments | 2,200,000 | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Beginning Balance | 3,985,900,000 | 3,411,300,000 | |
Defined Benefit Plan, Actual Return on Plan Assets | 199,300,000 | 506,500,000 | |
Defined Benefit Plan, Contributions by Employer | 171,600,000 | 284,700,000 | |
Defined Benefit Plan, Benefits Paid | -230,300,000 | -216,600,000 | |
Fair Value of Plan Assets Ending Balance | 4,126,500,000 | 3,985,900,000 | 3,411,300,000 |
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | |||
Defined Benefit Plan, Funded Status of Plan | -1,359,700,000 | -690,600,000 | |
Defined Benefit Plan, Accumulated Benefit Obligation | 5,000,100,000 | 4,538,800,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Beginning Balance | 3,985,900,000 | 3,411,300,000 | |
Fair Value of Plan Assets Ending Balance | 4,126,500,000 | 3,985,900,000 | 3,411,300,000 |
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss) [Abstract] | |||
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, before Tax | 55,900,000 | -28,900,000 | |
OCI Reclassification Adjustment for Net Actuarial Gain (Loss), before Tax | -5,600,000 | -9,400,000 | |
OCI Reclassification Adjustment for Amortization of Prior Service Cost, before tax | -200,000 | -200,000 | |
Gain Loss Arising During Year Regulatory | 797,300,000 | -635,200,000 | |
Losses Reclassifed From RegAsset PreTax | -122,800,000 | -201,200,000 | |
AmortizationPriorServiceCostfromRegAsset | -4,200,000 | -3,800,000 | |
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax [Abstract] | |||
Gains Losses included in AOCI, Pre Tax | 93,500,000 | 43,200,000 | |
Prior Service Cost balance in AOCI | 800,000 | 1,000,000 | |
RegulatoryAsset Gains Losses Before Tax | 1,811,900,000 | 1,137,400,000 | |
Regulatory Asset Prior Service Cost | 13,200,000 | 17,400,000 | |
Defined Benefit Amounts to be Reclassified from AOCI in next fiscal year | |||
Future Amortization Of Gain Loss. | 6,400,000 | ||
Future Amortization of Prior Service cost | 200,000 | ||
Regulatory Asset Amortization Of Net Gains Losses | 149,100,000 | ||
Regulatory Asset Defined Benefit Plan Amortization Of Net Prior ServiceCost | 3,500,000 | ||
Defined Benefit Plan, Assets, Target Allocations [Abstract] | |||
Assumed Rate of Return on Defined Benefit Plan Assets | 8.25% | ||
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract] | |||
Defined Benefit Plan, Expected Future Benefit Payments, Next Twelve Months | 244,500,000 | ||
Defined Benefit Plan, Expected Future Benefit Payments in Year Two | 253,600,000 | ||
Defined Benefit Plan, Expected Future Benefit Payments in Year Three | 268,900,000 | ||
Defined Benefit Plan, Expected Future Benefit Payments, Year Four | 273,400,000 | ||
Defined Benefit Plan, Expected Future Benefit Payments in Year Five | 285,400,000 | ||
Defined Benefit Plan, Expected Future Benefit Payments in Five Fiscal Years Thereafter | 1,591,100,000 | ||
Impact of Decrease in Discount Rate | In addition, the decreases in the discount rates resulted in an increase on NU's funded status liability of approximately $530 million. Partially offsetting these increases are the impact of other actuarial assumptions | ||
Pension Plans Defined Benefit Member | MinimumMember | |||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | |||
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 4.20% | 5.03% | |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase | 3.50% | 3.50% | |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | |||
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 4.85% | 4.13% | 4.52% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase | 8.25% | 8.25% | 7.30% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets | 3.50% | 3.50% | 3.50% |
Pension Plans Defined Benefit Member | MaximumMember | |||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | |||
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 4.90% | 5.03% | |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase | 3.50% | 4.00% | |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | |||
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 4.24% | 5.03% | |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase | 4.00% | 4.00% | |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets | 0.00% | 8.25% | |
Pension Plans Defined Benefit Member | Fair Value Inputs Level 1 Member | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Ending Balance | 443,700,000 | 434,800,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Ending Balance | 443,700,000 | 434,800,000 | |
Pension Plans Defined Benefit Member | Fair Value Inputs Level 2 [Member] | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Ending Balance | 1,748,400,000 | 1,865,400,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Ending Balance | 1,748,400,000 | 1,865,400,000 | |
Pension Plans Defined Benefit Member | Fair Value Inputs Level 3 [Member] | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Beginning Balance | 1,850,700,000 | 1,560,000,000 | |
Fair Value of Plan Assets Ending Balance | 2,122,900,000 | 1,850,700,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Beginning Balance | 1,850,700,000 | 1,560,000,000 | |
Defined Benefit Plan, Actual Return on Plan Assets Still Held | 76,800,000 | 137,600,000 | |
Defined Benefit Plan, Actual Return on Plan Assets Sold During Period | 20,800,000 | 31,100,000 | |
Defined Benefit Plan, Purchases, Sales, and Settlements | 174,600,000 | 122,000,000 | |
Fair Value of Plan Assets Ending Balance | 2,122,900,000 | 1,850,700,000 | |
Pension Plans Defined Benefit Member | Private Equity Funds [Member] | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Ending Balance | 386,700,000 | 396,700,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Ending Balance | 386,700,000 | 396,700,000 | |
Pension Plans Defined Benefit Member | Private Equity Funds [Member] | Fair Value Inputs Level 1 Member | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Ending Balance | 18,800,000 | 96,400,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Ending Balance | 18,800,000 | 96,400,000 | |
Pension Plans Defined Benefit Member | Private Equity Funds [Member] | Fair Value Inputs Level 3 [Member] | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Beginning Balance | 300,300,000 | 267,900,000 | |
Fair Value of Plan Assets Ending Balance | 367,900,000 | 300,300,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Beginning Balance | 300,300,000 | 267,900,000 | |
Defined Benefit Plan, Actual Return on Plan Assets Still Held | 14,000,000 | 15,400,000 | |
Defined Benefit Plan, Actual Return on Plan Assets Sold During Period | 13,900,000 | 13,700,000 | |
Defined Benefit Plan, Purchases, Sales, and Settlements | 39,700,000 | 3,300,000 | |
Fair Value of Plan Assets Ending Balance | 367,900,000 | 300,300,000 | |
Pension Plans Defined Benefit Member | Fixed Income Debt Securities [Member] | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Ending Balance | 1,293,600,000 | 1,206,200,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Ending Balance | 1,293,600,000 | 1,206,200,000 | |
Pension Plans Defined Benefit Member | Fixed Income Debt Securities [Member] | Fair Value Inputs Level 1 Member | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Ending Balance | 10,200,000 | 11,600,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Ending Balance | 10,200,000 | 11,600,000 | |
Pension Plans Defined Benefit Member | Fixed Income Debt Securities [Member] | Fair Value Inputs Level 2 [Member] | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Ending Balance | 561,400,000 | 605,100,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Ending Balance | 561,400,000 | 605,100,000 | |
Pension Plans Defined Benefit Member | Fixed Income Debt Securities [Member] | Fair Value Inputs Level 3 [Member] | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Beginning Balance | 589,500,000 | 315,100,000 | |
Fair Value of Plan Assets Ending Balance | 722,000,000 | 589,500,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Beginning Balance | 589,500,000 | 315,100,000 | |
Defined Benefit Plan, Actual Return on Plan Assets Still Held | 45,200,000 | 55,300,000 | |
Defined Benefit Plan, Actual Return on Plan Assets Sold During Period | -6,200,000 | -1,000,000 | |
Defined Benefit Plan, Purchases, Sales, and Settlements | 93,500,000 | 187,600,000 | |
Fair Value of Plan Assets Ending Balance | 722,000,000 | 589,500,000 | |
TransferBetweenCategories | 32,500,000 | ||
Pension Plans Defined Benefit Member | Hedge Funds [Member] | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Ending Balance | 495,000,000 | 416,900,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Ending Balance | 495,000,000 | 416,900,000 | |
Pension Plans Defined Benefit Member | Hedge Funds [Member] | Fair Value Inputs Level 2 [Member] | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Ending Balance | 20,000,000 | ||
Level 3 Rollforwards | |||
Fair Value of Plan Assets Ending Balance | 20,000,000 | ||
Pension Plans Defined Benefit Member | Hedge Funds [Member] | Fair Value Inputs Level 3 [Member] | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Beginning Balance | 416,900,000 | 418,900,000 | |
Fair Value of Plan Assets Ending Balance | 475,000,000 | 416,900,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Beginning Balance | 416,900,000 | 418,900,000 | |
Defined Benefit Plan, Actual Return on Plan Assets Still Held | 23,500,000 | 33,400,000 | |
Defined Benefit Plan, Actual Return on Plan Assets Sold During Period | -15,200,000 | 0 | |
Defined Benefit Plan, Purchases, Sales, and Settlements | 49,800,000 | -2,900,000 | |
Fair Value of Plan Assets Ending Balance | 475,000,000 | 416,900,000 | |
TransferBetweenCategories | -32,500,000 | ||
Pension Plans Defined Benefit Member | Real Estate [Member] | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Ending Balance | 397,800,000 | 376,700,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Ending Balance | 397,800,000 | 376,700,000 | |
Pension Plans Defined Benefit Member | Real Estate [Member] | Fair Value Inputs Level 1 Member | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Ending Balance | 0 | 0 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Ending Balance | 0 | 0 | |
Pension Plans Defined Benefit Member | Real Estate [Member] | Fair Value Inputs Level 2 [Member] | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Ending Balance | 132,000,000 | 88,200,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Ending Balance | 132,000,000 | 88,200,000 | |
Pension Plans Defined Benefit Member | Real Estate [Member] | Fair Value Inputs Level 3 [Member] | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Beginning Balance | 288,500,000 | 235,400,000 | |
Fair Value of Plan Assets Ending Balance | 265,800,000 | 288,500,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Beginning Balance | 288,500,000 | 235,400,000 | |
Defined Benefit Plan, Actual Return on Plan Assets Still Held | -3,600,000 | 12,900,000 | |
Defined Benefit Plan, Actual Return on Plan Assets Sold During Period | 28,300,000 | 6,200,000 | |
Defined Benefit Plan, Purchases, Sales, and Settlements | -47,400,000 | 34,000,000 | |
Fair Value of Plan Assets Ending Balance | 265,800,000 | 288,500,000 | |
Pension Plans Defined Benefit Member | Assetsrelatedto401h [Member] | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Ending Balance | 188,500,000 | 165,000,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Ending Balance | 188,500,000 | 165,000,000 | |
Pension Plans Defined Benefit Member | Equity Member | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Ending Balance | 1,741,900,000 | 1,754,400,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Ending Balance | 1,741,900,000 | 1,754,400,000 | |
Pension Plans Defined Benefit Member | Equity Member | Fair Value Inputs Level 1 Member | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Ending Balance | 414,700,000 | 326,800,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Ending Balance | 414,700,000 | 326,800,000 | |
Pension Plans Defined Benefit Member | Equity Member | Fair Value Inputs Level 2 [Member] | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Ending Balance | 1,035,000,000 | 1,172,100,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Ending Balance | 1,035,000,000 | 1,172,100,000 | |
Pension Plans Defined Benefit Member | Equity Member | Fair Value Inputs Level 3 [Member] | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Beginning Balance | 255,500,000 | 322,700,000 | |
Fair Value of Plan Assets Ending Balance | 292,200,000 | 255,500,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Beginning Balance | 255,500,000 | 322,700,000 | |
Defined Benefit Plan, Actual Return on Plan Assets Still Held | -2,300,000 | 20,600,000 | |
Defined Benefit Plan, Actual Return on Plan Assets Sold During Period | 0 | 12,200,000 | |
Defined Benefit Plan, Purchases, Sales, and Settlements | 39,000,000 | -100,000,000 | |
Fair Value of Plan Assets Ending Balance | 292,200,000 | 255,500,000 | |
PBOP Plan | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Benefit Obligation Beginning Balance | -1,038,000,000 | -1,233,300,000 | |
Defined Benefit Plan Service Cost | -12,500,000 | -16,900,000 | -15,700,000 |
Defined Benefit Plan Interest Cost | -49,500,000 | -47,200,000 | -49,000,000 |
Defined Benefit Plan, Actuarial Net (Gains) Losses | -95,500,000 | 200,900,000 | |
Defined Benefit Plan, Benefits Paid | 47,600,000 | 58,500,000 | |
Benefit Obligation Ending Balance | -1,147,900,000 | -1,038,000,000 | -1,233,300,000 |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Defined Benefit Plan Service Cost | 12,500,000 | 16,900,000 | 15,700,000 |
Defined Benefit Plan Interest Cost | 49,500,000 | 47,200,000 | 49,000,000 |
Defined Benefit Plan, Expected Return on Plan Assets | -63,300,000 | -55,400,000 | -39,200,000 |
Defined Benefit Plan, Amortization of Gains (Losses) | 12,200,000 | 26,000,000 | 36,000,000 |
Defined Benefit Plan Amortization Of Transition Obligations Assets | 12,200,000 | ||
Defined Benefit Plan Amortization Of Prior Service Cost Credit | -2,800,000 | -2,100,000 | -1,400,000 |
Defined Benefit Plan Net Periodic Benefit Cost | 8,100,000 | 32,600,000 | 72,300,000 |
Amount Capitalized Defined Benefit Expense | 1,400,000 | 8,800,000 | 26,600,000 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Beginning Balance | 826,500,000 | 709,100,000 | |
Defined Benefit Plan, Actual Return on Plan Assets | 43,700,000 | 118,300,000 | |
Defined Benefit Plan, Contributions by Employer | 40,000,000 | 57,600,000 | |
Defined Benefit Plan, Benefits Paid | -47,600,000 | -58,500,000 | |
Fair Value of Plan Assets Ending Balance | 862,600,000 | 826,500,000 | 709,100,000 |
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | |||
Defined Benefit Plan, Funded Status of Plan | -285,300,000 | -211,500,000 | |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | |||
Defined Benefit Plan, Description of Direction and Pattern of Change for Assumed Health Care Cost Trend Rate | As of December 31, 2014 and 2013, the health care cost trend rate assumption used to determine the PBOP Plans’ funded status was 6.5 percent and 7 percent, respectively, subsequently decreasing to an ultimate rate of 4.5 percent in 2023. | ||
Defined Benefit Plan, Effect of One-Percentage Point Change in Assumed Health Care Cost Trend Rates [Abstract] | |||
Defined Benefit Plan, Effect of One Percentage Point Increase on Accumulated Postretirement Benefit Obligation | 111,200,000 | ||
Defined Benefit Plan, Effect of One Percentage Point Decrease on Accumulated Postretirement Benefit Obligation | -88,400,000 | ||
Defined Benefit Plan, Effect of One Percentage Point Increase on Service and Interest Cost Components | 5,300,000 | ||
Defined Benefit Plan, Effect of One Percentage Point Decrease on Service and Interest Cost Components | -4,400,000 | ||
Level 3 Rollforwards | |||
Fair Value of Plan Assets Beginning Balance | 826,500,000 | 709,100,000 | |
Fair Value of Plan Assets Ending Balance | 862,600,000 | 826,500,000 | 709,100,000 |
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss) [Abstract] | |||
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, before Tax | 400,000 | -1,900,000 | |
OCI Reclassification Adjustment for Net Actuarial Gain (Loss), before Tax | -600,000 | -1,100,000 | |
Gain Loss Arising During Year Regulatory | 115,100,000 | -262,000,000 | |
Losses Reclassifed From RegAsset PreTax | -11,600,000 | -24,900,000 | |
AmortizationPriorServiceCostfromRegAsset | 2,800,000 | 2,100,000 | |
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax [Abstract] | |||
Gains Losses included in AOCI, Pre Tax | 6,000,000 | 6,200,000 | |
RegulatoryAsset Gains Losses Before Tax | 192,700,000 | 89,200,000 | |
Regulatory Asset Prior Service Cost | -1,800,000 | -4,600,000 | |
Defined Benefit Amounts to be Reclassified from AOCI in next fiscal year | |||
Future Amortization Of Gain Loss. | 300,000 | ||
Regulatory Asset Amortization Of Net Gains Losses | 6,900,000 | ||
Regulatory Asset Defined Benefit Plan Amortization Of Net Prior ServiceCost | -500,000 | ||
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract] | |||
Defined Benefit Plan, Expected Future Benefit Payments, Next Twelve Months | 58,700,000 | ||
Defined Benefit Plan, Expected Future Benefit Payments in Year Two | 59,700,000 | ||
Defined Benefit Plan, Expected Future Benefit Payments in Year Three | 60,600,000 | ||
Defined Benefit Plan, Expected Future Benefit Payments, Year Four | 61,300,000 | ||
Defined Benefit Plan, Expected Future Benefit Payments in Year Five | 62,000,000 | ||
Defined Benefit Plan, Expected Future Benefit Payments in Five Fiscal Years Thereafter | 318,800,000 | ||
Impact of change in mortality assumption | During 2014, the Society of Actuaries released a series of updated mortality tables resulting from recent studies that measured mortality rates for various groups of individuals. The updated mortality tables released in 2014 increased life expectancy of plan participants by 3 to 5 years and have the effect of increasing the estimate of benefits to be provided to plan participants. The impact of this adoption on NU's funded status liability for the year ended December 31, 2014 was an increase of approximately $82 million. | ||
Impact of Decrease in Discount Rate | In addition, the decreases in the discount rates resulted in an increase on NU's funded status liability of approximately $110 million. Partially offsetting these increases are the impact of other actuarial assumptions. | ||
PBOP Plan | MinimumMember | |||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | |||
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 4.22% | 4.78% | |
Health Care Trend Assumption Used In Funded Status | 6.50% | 7.00% | |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | |||
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 4.78% | 4.04% | 4.58% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets | 8.25% | 8.25% | 7.30% |
PBOP Plan | MaximumMember | |||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | |||
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 5.10% | ||
Health Care Trend Assumption Used In Funded Status | 0.00% | ||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | |||
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 5.10% | 4.35% | 4.84% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets | 8.25% | 8.25% | 8.25% |
PBOP Plan | Fair Value Inputs Level 1 Member | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Ending Balance | 120,200,000 | 121,400,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Ending Balance | 120,200,000 | 121,400,000 | |
PBOP Plan | Fair Value Inputs Level 2 [Member] | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Ending Balance | 302,200,000 | 310,700,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Ending Balance | 302,200,000 | 310,700,000 | |
PBOP Plan | Fair Value Inputs Level 3 [Member] | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Beginning Balance | 229,400,000 | 146,000,000 | |
Fair Value of Plan Assets Ending Balance | 251,700,000 | 229,400,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Beginning Balance | 229,400,000 | 146,000,000 | |
Defined Benefit Plan, Actual Return on Plan Assets Still Held | 7,800,000 | 35,700,000 | |
Defined Benefit Plan, Actual Return on Plan Assets Sold During Period | -2,100,000 | 100,000 | |
Defined Benefit Plan, Purchases, Sales, and Settlements | 16,600,000 | 47,600,000 | |
Fair Value of Plan Assets Ending Balance | 251,700,000 | 229,400,000 | |
PBOP Plan | Private Equity Funds [Member] | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Ending Balance | 24,900,000 | 17,900,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Ending Balance | 24,900,000 | 17,900,000 | |
PBOP Plan | Private Equity Funds [Member] | Fair Value Inputs Level 3 [Member] | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Beginning Balance | 17,900,000 | 11,300,000 | |
Fair Value of Plan Assets Ending Balance | 24,900,000 | 17,900,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Beginning Balance | 17,900,000 | 11,300,000 | |
Defined Benefit Plan, Actual Return on Plan Assets Still Held | 1,300,000 | 1,500,000 | |
Defined Benefit Plan, Actual Return on Plan Assets Sold During Period | 100,000 | 200,000 | |
Defined Benefit Plan, Purchases, Sales, and Settlements | 5,600,000 | 4,900,000 | |
Fair Value of Plan Assets Ending Balance | 24,900,000 | 17,900,000 | |
PBOP Plan | Fixed Income Debt Securities [Member] | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Ending Balance | 204,400,000 | 171,200,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Ending Balance | 204,400,000 | 171,200,000 | |
PBOP Plan | Fixed Income Debt Securities [Member] | Fair Value Inputs Level 1 Member | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Ending Balance | 16,100,000 | ||
Level 3 Rollforwards | |||
Fair Value of Plan Assets Ending Balance | 16,100,000 | ||
PBOP Plan | Fixed Income Debt Securities [Member] | Fair Value Inputs Level 2 [Member] | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Ending Balance | 110,000,000 | 119,700,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Ending Balance | 110,000,000 | 119,700,000 | |
PBOP Plan | Fixed Income Debt Securities [Member] | Fair Value Inputs Level 3 [Member] | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Beginning Balance | 51,500,000 | 32,100,000 | |
Fair Value of Plan Assets Ending Balance | 78,300,000 | 51,500,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Beginning Balance | 51,500,000 | 32,100,000 | |
Defined Benefit Plan, Actual Return on Plan Assets Still Held | 1,900,000 | 4,100,000 | |
Defined Benefit Plan, Purchases, Sales, and Settlements | 24,900,000 | 15,300,000 | |
Fair Value of Plan Assets Ending Balance | 78,300,000 | 51,500,000 | |
PBOP Plan | Hedge Funds [Member] | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Ending Balance | 58,400,000 | 57,000,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Ending Balance | 58,400,000 | 57,000,000 | |
PBOP Plan | Hedge Funds [Member] | Fair Value Inputs Level 3 [Member] | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Beginning Balance | 57,000,000 | 39,600,000 | |
Fair Value of Plan Assets Ending Balance | 58,400,000 | 57,000,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Beginning Balance | 57,000,000 | 39,600,000 | |
Defined Benefit Plan, Actual Return on Plan Assets Still Held | 1,400,000 | 5,400,000 | |
Defined Benefit Plan, Purchases, Sales, and Settlements | 0 | 12,000,000 | |
Fair Value of Plan Assets Ending Balance | 58,400,000 | 57,000,000 | |
PBOP Plan | Real Estate [Member] | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Ending Balance | 34,400,000 | 48,100,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Ending Balance | 34,400,000 | 48,100,000 | |
PBOP Plan | Real Estate [Member] | Fair Value Inputs Level 2 [Member] | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Ending Balance | 19,400,000 | 14,200,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Ending Balance | 19,400,000 | 14,200,000 | |
PBOP Plan | Real Estate [Member] | Fair Value Inputs Level 3 [Member] | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Beginning Balance | 33,900,000 | 26,700,000 | |
Fair Value of Plan Assets Ending Balance | 15,000,000 | 33,900,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Beginning Balance | 33,900,000 | 26,700,000 | |
Defined Benefit Plan, Actual Return on Plan Assets Still Held | -2,800,000 | 3,900,000 | |
Defined Benefit Plan, Actual Return on Plan Assets Sold During Period | -2,200,000 | -100,000 | |
Defined Benefit Plan, Purchases, Sales, and Settlements | -13,900,000 | 3,400,000 | |
Fair Value of Plan Assets Ending Balance | 15,000,000 | 33,900,000 | |
PBOP Plan | Cash And Cash Equivalents Member | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Ending Balance | 0 | 11,100,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Ending Balance | 0 | 11,100,000 | |
PBOP Plan | Cash And Cash Equivalents Member | Fair Value Inputs Level 1 Member | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Ending Balance | 0 | 11,100,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Ending Balance | 0 | 11,100,000 | |
PBOP Plan | Assetsrelatedto401h [Member] | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Ending Balance | 188,500,000 | 165,000,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Ending Balance | 188,500,000 | 165,000,000 | |
PBOP Plan | Equity Member | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Ending Balance | 352,000,000 | 356,200,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Ending Balance | 352,000,000 | 356,200,000 | |
PBOP Plan | Equity Member | Fair Value Inputs Level 1 Member | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Ending Balance | 104,100,000 | 110,300,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Ending Balance | 104,100,000 | 110,300,000 | |
PBOP Plan | Equity Member | Fair Value Inputs Level 2 [Member] | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Ending Balance | 172,800,000 | 176,800,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Ending Balance | 172,800,000 | 176,800,000 | |
PBOP Plan | Equity Member | Fair Value Inputs Level 3 [Member] | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Beginning Balance | 69,100,000 | 36,300,000 | |
Fair Value of Plan Assets Ending Balance | 75,100,000 | 69,100,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Beginning Balance | 69,100,000 | 36,300,000 | |
Defined Benefit Plan, Actual Return on Plan Assets Still Held | 6,000,000 | 20,800,000 | |
Defined Benefit Plan, Purchases, Sales, and Settlements | 0 | 12,000,000 | |
Fair Value of Plan Assets Ending Balance | 75,100,000 | 69,100,000 | |
NUSCOPensionandPBOP [Member] | United States Equity Securities [Member] | |||
Defined Benefit Plan, Assets, Target Allocations [Abstract] | |||
Assumed Rate of Return on Defined Benefit Plan Assets | 9.00% | 9.00% | |
Target Allocation | 24.00% | 24.00% | |
NUSCOPensionandPBOP [Member] | International Equity Securities [Member] | |||
Defined Benefit Plan, Assets, Target Allocations [Abstract] | |||
Assumed Rate of Return on Defined Benefit Plan Assets | 9.00% | 9.00% | |
Target Allocation | 10.00% | 10.00% | |
NUSCOPensionandPBOP [Member] | Emergining Markets Equity Securities [Member] | |||
Defined Benefit Plan, Assets, Target Allocations [Abstract] | |||
Assumed Rate of Return on Defined Benefit Plan Assets | 10.00% | 10.00% | |
Target Allocation | 6.00% | 6.00% | |
NUSCOPensionandPBOP [Member] | Private Equity Funds [Member] | |||
Defined Benefit Plan, Assets, Target Allocations [Abstract] | |||
Assumed Rate of Return on Defined Benefit Plan Assets | 13.00% | 13.00% | |
Target Allocation | 10.00% | 10.00% | |
NUSCOPensionandPBOP [Member] | Fixed Income Debt Securities [Member] | |||
Defined Benefit Plan, Assets, Target Allocations [Abstract] | |||
Assumed Rate of Return on Defined Benefit Plan Assets | 5.00% | 5.00% | |
Target Allocation | 15.00% | 15.00% | |
NUSCOPensionandPBOP [Member] | High Yield Fixed Income Debt Securities [Member] | |||
Defined Benefit Plan, Assets, Target Allocations [Abstract] | |||
Assumed Rate of Return on Defined Benefit Plan Assets | 7.50% | 7.50% | |
Target Allocation | 9.00% | 9.00% | |
NUSCOPensionandPBOP [Member] | Emerging Markets Debt Securities [Member] | |||
Defined Benefit Plan, Assets, Target Allocations [Abstract] | |||
Assumed Rate of Return on Defined Benefit Plan Assets | 7.50% | 7.50% | |
Target Allocation | 6.00% | 6.00% | |
NUSCOPensionandPBOP [Member] | Hedge Funds [Member] | |||
Defined Benefit Plan, Assets, Target Allocations [Abstract] | |||
Assumed Rate of Return on Defined Benefit Plan Assets | 7.00% | 7.00% | |
Target Allocation | 11.00% | 11.00% | |
NUSCOPensionandPBOP [Member] | Real Estate [Member] | |||
Defined Benefit Plan, Assets, Target Allocations [Abstract] | |||
Assumed Rate of Return on Defined Benefit Plan Assets | 7.50% | 7.50% | |
Target Allocation | 9.00% | 9.00% | |
The Connecticut Light And Power Company [Member] | |||
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | |||
Accrued Pension, PBOP and SERP | 273,854,000 | 95,895,000 | |
The Connecticut Light And Power Company [Member] | Pension Plans Defined Benefit Member | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Benefit Obligation Beginning Balance | -1,083,400,000 | -1,178,000,000 | |
ChangeInLiabilityDueToServiceCompanyMerger | 26,400,000 | ||
Defined Benefit Plan Service Cost | -20,200,000 | -24,900,000 | -21,800,000 |
Defined Benefit Plan Interest Cost | -50,500,000 | -48,300,000 | -51,200,000 |
Defined Benefit Plan, Actuarial Net (Gains) Losses | -161,000,000 | 110,700,000 | |
Defined Benefit Plan, Benefits Paid | 58,300,000 | 56,600,000 | |
Defined Benefit Plan, Payments SERP | 300,000 | 500,000 | |
Benefit Obligation Ending Balance | -1,230,100,000 | -1,083,400,000 | -1,178,000,000 |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Defined Benefit Plan Service Cost | 20,200,000 | 24,900,000 | 21,800,000 |
Defined Benefit Plan Interest Cost | 50,500,000 | 48,300,000 | 51,200,000 |
Defined Benefit Plan, Expected Return on Plan Assets | -75,400,000 | -73,800,000 | -70,600,000 |
Defined Benefit Plan, Amortization of Gains (Losses) | 33,700,000 | 55,900,000 | 49,600,000 |
Defined Benefit Plan Amortization Of Prior Service Cost Credit | 1,800,000 | 1,800,000 | 3,600,000 |
Defined Benefit Plan Net Periodic Benefit Cost | 30,800,000 | 57,100,000 | 55,600,000 |
Related Intercompany Allocationsof Defined Benefit Expense | 26,700,000 | 44,900,000 | 42,800,000 |
Amount Capitalized Defined Benefit Expense | 17,600,000 | 28,000,000 | 26,800,000 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Beginning Balance | 1,016,300,000 | 937,600,000 | |
Defined Benefit Plan, Actual Return on Plan Assets | 49,200,000 | 135,300,000 | |
Defined Benefit Plan, Contributions by Employer | 0 | ||
Defined Benefit Plan, Benefits Paid | -58,300,000 | -56,600,000 | |
Fair Value of Plan Assets Ending Balance | 980,800,000 | 1,016,300,000 | 937,600,000 |
ChangeInAssetsDueToServiceCompanyMerger | -26,400,000 | ||
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | |||
Defined Benefit Plan, Funded Status of Plan | -249,300,000 | -67,100,000 | |
Defined Benefit Plan, Accumulated Benefit Obligation | 1,101,400,000 | 1,058,000,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Beginning Balance | 1,016,300,000 | 937,600,000 | |
Fair Value of Plan Assets Ending Balance | 980,800,000 | 1,016,300,000 | 937,600,000 |
The Connecticut Light And Power Company [Member] | PBOP Plan | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Benefit Obligation Beginning Balance | -180,400,000 | -196,800,000 | |
ChangeInLiabilityDueToServiceCompanyMerger | 3,700,000 | ||
Defined Benefit Plan Service Cost | -2,200,000 | -3,400,000 | -3,000,000 |
Defined Benefit Plan Interest Cost | -8,100,000 | -7,900,000 | -9,200,000 |
Defined Benefit Plan, Actuarial Net (Gains) Losses | 3,500,000 | 13,300,000 | |
Defined Benefit Plan, Benefits Paid | 9,600,000 | 14,400,000 | |
Benefit Obligation Ending Balance | -173,900,000 | -180,400,000 | -196,800,000 |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Defined Benefit Plan Service Cost | 2,200,000 | 3,400,000 | 3,000,000 |
Defined Benefit Plan Interest Cost | 8,100,000 | 7,900,000 | 9,200,000 |
Defined Benefit Plan, Expected Return on Plan Assets | -10,500,000 | -10,100,000 | -9,100,000 |
Defined Benefit Plan, Amortization of Gains (Losses) | 4,200,000 | 7,400,000 | 7,500,000 |
Defined Benefit Plan Amortization Of Transition Obligations Assets | 6,100,000 | ||
Defined Benefit Plan Amortization Of Prior Service Cost Credit | 0 | 0 | |
Defined Benefit Plan Net Periodic Benefit Cost | 4,000,000 | 8,600,000 | 16,700,000 |
Related Intercompany Allocationsof Defined Benefit Expense | 3,800,000 | 7,100,000 | 7,900,000 |
Amount Capitalized Defined Benefit Expense | 1,800,000 | 3,900,000 | 8,200,000 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Beginning Balance | 151,300,000 | 132,200,000 | |
Defined Benefit Plan, Actual Return on Plan Assets | 6,300,000 | 24,800,000 | |
Defined Benefit Plan, Contributions by Employer | 4,200,000 | 8,700,000 | |
Defined Benefit Plan, Benefits Paid | -9,600,000 | -14,400,000 | |
Fair Value of Plan Assets Ending Balance | 149,000,000 | 151,300,000 | 132,200,000 |
ChangeInAssetsDueToServiceCompanyMerger | -3,200,000 | ||
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | |||
Defined Benefit Plan, Funded Status of Plan | -24,900,000 | -29,100,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Beginning Balance | 151,300,000 | 132,200,000 | |
Fair Value of Plan Assets Ending Balance | 149,000,000 | 151,300,000 | 132,200,000 |
NSTAR Electric Company [Member] | |||
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | |||
Accrued Pension, PBOP and SERP | 235,529,000 | 118,010,000 | |
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract] | |||
Pension Contribution | 120,306,000 | 82,000,000 | 25,000,000 |
NSTAR Electric Company [Member] | Pension Plans Defined Benefit Member | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Benefit Obligation Beginning Balance | -1,353,300,000 | -1,430,000,000 | |
ChangeInLiabilityDueToServiceCompanyMerger | 479,900,000 | ||
Defined Benefit Plan Service Cost | -13,600,000 | -33,100,000 | -30,300,000 |
Defined Benefit Plan Interest Cost | -41,300,000 | -58,000,000 | -58,900,000 |
Defined Benefit Plan, Actuarial Net (Gains) Losses | -107,000,000 | 96,600,000 | |
Defined Benefit Plan, Benefits Paid | 52,400,000 | 71,200,000 | |
Defined Benefit Plan, Payments SERP | 300,000 | ||
Benefit Obligation Ending Balance | -982,600,000 | -1,353,300,000 | -1,430,000,000 |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Defined Benefit Plan Service Cost | 13,600,000 | 33,100,000 | 30,300,000 |
Defined Benefit Plan Interest Cost | 41,300,000 | 58,000,000 | 58,900,000 |
Defined Benefit Plan, Expected Return on Plan Assets | -63,000,000 | -84,400,000 | -65,600,000 |
Defined Benefit Plan, Amortization of Gains (Losses) | 23,500,000 | 58,100,000 | 63,100,000 |
Defined Benefit Plan Amortization Of Prior Service Cost Credit | 0 | -300,000 | -600,000 |
Defined Benefit Plan Net Periodic Benefit Cost | 15,400,000 | 64,500,000 | 86,100,000 |
Related Intercompany Allocationsof Defined Benefit Expense | 10,400,000 | -8,400,000 | -12,300,000 |
Amount Capitalized Defined Benefit Expense | 7,900,000 | 28,900,000 | 30,700,000 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Beginning Balance | 1,235,300,000 | 1,069,100,000 | |
Defined Benefit Plan, Actual Return on Plan Assets | 36,500,000 | 155,400,000 | |
Defined Benefit Plan, Contributions by Employer | 101,000,000 | 82,000,000 | |
Defined Benefit Plan, Benefits Paid | -52,400,000 | -71,200,000 | |
Fair Value of Plan Assets Ending Balance | 879,000,000 | 1,235,300,000 | 1,069,100,000 |
ChangeInAssetsDueToServiceCompanyMerger | -441,400,000 | ||
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | |||
Defined Benefit Plan, Funded Status of Plan | -103,600,000 | -118,000,000 | |
Defined Benefit Plan, Accumulated Benefit Obligation | 910,400,000 | 1,280,600,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Beginning Balance | 1,235,300,000 | 1,069,100,000 | |
Fair Value of Plan Assets Ending Balance | 879,000,000 | 1,235,300,000 | 1,069,100,000 |
NSTAR Electric Company [Member] | PBOP Plan | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
ChangeInLiabilityDueToServiceCompanyMerger | -395,500,000 | ||
Defined Benefit Plan Service Cost | -3,100,000 | ||
Defined Benefit Plan Interest Cost | -19,400,000 | ||
Defined Benefit Plan, Actuarial Net (Gains) Losses | -68,600,000 | ||
Defined Benefit Plan, Benefits Paid | 17,900,000 | ||
Benefit Obligation Ending Balance | -468,700,000 | ||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Defined Benefit Plan Service Cost | 3,100,000 | ||
Defined Benefit Plan Interest Cost | 19,400,000 | ||
Defined Benefit Plan, Expected Return on Plan Assets | -25,900,000 | ||
Defined Benefit Plan, Amortization of Gains (Losses) | -500,000 | ||
Defined Benefit Plan Amortization Of Prior Service Cost Credit | -1,900,000 | ||
Defined Benefit Plan Net Periodic Benefit Cost | -5,800,000 | 4,600,000 | 34,100,000 |
Related Intercompany Allocationsof Defined Benefit Expense | 800,000 | ||
Amount Capitalized Defined Benefit Expense | -2,300,000 | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Defined Benefit Plan, Actual Return on Plan Assets | 18,400,000 | ||
Defined Benefit Plan, Contributions by Employer | 19,300,000 | ||
Defined Benefit Plan, Benefits Paid | -17,900,000 | ||
Fair Value of Plan Assets Ending Balance | 336,500,000 | ||
ChangeInAssetsDueToServiceCompanyMerger | 316,700,000 | ||
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | |||
Defined Benefit Plan, Funded Status of Plan | -132,200,000 | ||
Level 3 Rollforwards | |||
Fair Value of Plan Assets Ending Balance | 336,500,000 | ||
NSTAR Electric Company [Member] | Supplemental Employee Retirement Plans, Defined Benefit [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Defined Benefit Plan Net Periodic Benefit Cost | 3,200,000 | 3,600,000 | |
Public Service Company Of New Hampshire [Member] | |||
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | |||
Accrued Pension, PBOP and SERP | 93,243,000 | 15,272,000 | |
Public Service Company Of New Hampshire [Member] | Pension Plans Defined Benefit Member | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Benefit Obligation Beginning Balance | -529,000,000 | -576,000,000 | |
ChangeInLiabilityDueToServiceCompanyMerger | 32,200,000 | ||
Defined Benefit Plan Service Cost | -9,700,000 | -13,100,000 | -11,800,000 |
Defined Benefit Plan Interest Cost | -23,800,000 | -23,600,000 | -24,400,000 |
Defined Benefit Plan, Actuarial Net (Gains) Losses | -73,300,000 | 62,400,000 | |
Defined Benefit Plan, Benefits Paid | 22,800,000 | 21,100,000 | |
Defined Benefit Plan, Payments SERP | 100,000 | 200,000 | |
Benefit Obligation Ending Balance | -580,700,000 | -529,000,000 | -576,000,000 |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Defined Benefit Plan Service Cost | 9,700,000 | 13,100,000 | 11,800,000 |
Defined Benefit Plan Interest Cost | 23,800,000 | 23,600,000 | 24,400,000 |
Defined Benefit Plan, Expected Return on Plan Assets | -38,100,000 | -35,400,000 | -28,200,000 |
Defined Benefit Plan, Amortization of Gains (Losses) | 11,600,000 | 21,600,000 | 16,200,000 |
Defined Benefit Plan Amortization Of Prior Service Cost Credit | 700,000 | 700,000 | 1,500,000 |
Defined Benefit Plan Net Periodic Benefit Cost | 7,700,000 | 23,600,000 | 25,700,000 |
Related Intercompany Allocationsof Defined Benefit Expense | 7,600,000 | 10,500,000 | 10,100,000 |
Amount Capitalized Defined Benefit Expense | 3,000,000 | 7,300,000 | 7,900,000 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Beginning Balance | 528,600,000 | 386,600,000 | |
Defined Benefit Plan, Actual Return on Plan Assets | 24,800,000 | 54,800,000 | |
Defined Benefit Plan, Contributions by Employer | 0 | 108,300,000 | |
Defined Benefit Plan, Benefits Paid | -22,800,000 | -21,100,000 | |
Fair Value of Plan Assets Ending Balance | 498,400,000 | 528,600,000 | 386,600,000 |
ChangeInAssetsDueToServiceCompanyMerger | -32,200,000 | ||
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | |||
Defined Benefit Plan, Funded Status of Plan | -82,300,000 | -400,000 | |
Defined Benefit Plan, Accumulated Benefit Obligation | 524,500,000 | 520,100,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Beginning Balance | 528,600,000 | 386,600,000 | |
Fair Value of Plan Assets Ending Balance | 498,400,000 | 528,600,000 | 386,600,000 |
Public Service Company Of New Hampshire [Member] | PBOP Plan | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Benefit Obligation Beginning Balance | -93,500,000 | -100,200,000 | |
ChangeInLiabilityDueToServiceCompanyMerger | 4,300,000 | ||
Defined Benefit Plan Service Cost | -1,300,000 | -2,300,000 | -2,000,000 |
Defined Benefit Plan Interest Cost | -4,300,000 | -4,000,000 | -4,600,000 |
Defined Benefit Plan, Actuarial Net (Gains) Losses | -1,100,000 | 7,200,000 | |
Defined Benefit Plan, Benefits Paid | 4,100,000 | 5,800,000 | |
Benefit Obligation Ending Balance | -91,800,000 | -93,500,000 | -100,200,000 |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Defined Benefit Plan Service Cost | 1,300,000 | 2,300,000 | 2,000,000 |
Defined Benefit Plan Interest Cost | 4,300,000 | 4,000,000 | 4,600,000 |
Defined Benefit Plan, Expected Return on Plan Assets | -5,400,000 | -5,200,000 | -4,600,000 |
Defined Benefit Plan, Amortization of Gains (Losses) | 2,200,000 | 3,600,000 | 3,600,000 |
Defined Benefit Plan Amortization Of Transition Obligations Assets | 2,500,000 | ||
Defined Benefit Plan Amortization Of Prior Service Cost Credit | 0 | 0 | |
Defined Benefit Plan Net Periodic Benefit Cost | 2,400,000 | 4,700,000 | 8,100,000 |
Related Intercompany Allocationsof Defined Benefit Expense | 1,000,000 | 1,600,000 | 2,000,000 |
Amount Capitalized Defined Benefit Expense | 800,000 | 1,300,000 | 2,300,000 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Beginning Balance | 81,800,000 | 69,500,000 | |
Defined Benefit Plan, Actual Return on Plan Assets | 3,800,000 | 13,400,000 | |
Defined Benefit Plan, Contributions by Employer | 2,500,000 | 4,700,000 | |
Defined Benefit Plan, Benefits Paid | -4,100,000 | -5,800,000 | |
Fair Value of Plan Assets Ending Balance | 80,900,000 | 81,800,000 | 69,500,000 |
ChangeInAssetsDueToServiceCompanyMerger | -3,100,000 | ||
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | |||
Defined Benefit Plan, Funded Status of Plan | -10,900,000 | -11,700,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Beginning Balance | 81,800,000 | 69,500,000 | |
Fair Value of Plan Assets Ending Balance | 80,900,000 | 81,800,000 | 69,500,000 |
Western Massachusetts Electric Company [Member] | |||
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | |||
Accrued Pension, PBOP and SERP | 17,705,000 | 3,911,000 | |
Western Massachusetts Electric Company [Member] | Pension Plans Defined Benefit Member | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Benefit Obligation Beginning Balance | -223,900,000 | -243,100,000 | |
ChangeInLiabilityDueToServiceCompanyMerger | 6,200,000 | ||
Defined Benefit Plan Service Cost | -3,500,000 | -4,700,000 | -4,100,000 |
Defined Benefit Plan Interest Cost | -10,300,000 | -10,000,000 | -10,500,000 |
Defined Benefit Plan, Actuarial Net (Gains) Losses | -29,800,000 | 22,400,000 | |
Defined Benefit Plan, Benefits Paid | 11,900,000 | 11,500,000 | |
Defined Benefit Plan, Payments SERP | 0 | ||
Benefit Obligation Ending Balance | -249,400,000 | -223,900,000 | -243,100,000 |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Defined Benefit Plan Service Cost | 3,500,000 | 4,700,000 | 4,100,000 |
Defined Benefit Plan Interest Cost | 10,300,000 | 10,000,000 | 10,500,000 |
Defined Benefit Plan, Expected Return on Plan Assets | -17,900,000 | -17,400,000 | -16,400,000 |
Defined Benefit Plan, Amortization of Gains (Losses) | 6,900,000 | 11,800,000 | 10,700,000 |
Defined Benefit Plan Amortization Of Prior Service Cost Credit | 400,000 | 400,000 | 800,000 |
Defined Benefit Plan Net Periodic Benefit Cost | 3,200,000 | 9,500,000 | 9,700,000 |
Related Intercompany Allocationsof Defined Benefit Expense | 5,100,000 | 8,000,000 | 8,100,000 |
Amount Capitalized Defined Benefit Expense | 2,400,000 | 5,200,000 | 5,100,000 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Beginning Balance | 240,400,000 | 218,500,000 | |
Defined Benefit Plan, Actual Return on Plan Assets | 11,700,000 | 33,400,000 | |
Defined Benefit Plan, Benefits Paid | -11,900,000 | -11,500,000 | |
Fair Value of Plan Assets Ending Balance | 234,000,000 | 240,400,000 | 218,500,000 |
ChangeInAssetsDueToServiceCompanyMerger | -6,200,000 | ||
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | |||
Defined Benefit Plan, Funded Status of Plan | -15,400,000 | 16,500,000 | |
Defined Benefit Plan, Accumulated Benefit Obligation | 226,400,000 | 220,600,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Beginning Balance | 240,400,000 | 218,500,000 | |
Fair Value of Plan Assets Ending Balance | 234,000,000 | 240,400,000 | 218,500,000 |
Western Massachusetts Electric Company [Member] | PBOP Plan | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Benefit Obligation Beginning Balance | -38,700,000 | -42,500,000 | |
ChangeInLiabilityDueToServiceCompanyMerger | 1,000,000 | ||
Defined Benefit Plan Service Cost | -400,000 | -700,000 | -600,000 |
Defined Benefit Plan Interest Cost | -1,700,000 | -1,700,000 | -2,000,000 |
Defined Benefit Plan, Actuarial Net (Gains) Losses | 1,300,000 | 3,300,000 | |
Defined Benefit Plan, Benefits Paid | 1,900,000 | 2,900,000 | |
Benefit Obligation Ending Balance | -36,600,000 | -38,700,000 | -42,500,000 |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Defined Benefit Plan Service Cost | 400,000 | 700,000 | 600,000 |
Defined Benefit Plan Interest Cost | 1,700,000 | 1,700,000 | 2,000,000 |
Defined Benefit Plan, Expected Return on Plan Assets | -2,300,000 | -2,300,000 | -2,100,000 |
Defined Benefit Plan, Amortization of Gains (Losses) | 500,000 | 1,100,000 | 1,200,000 |
Defined Benefit Plan Amortization Of Transition Obligations Assets | 1,300,000 | ||
Defined Benefit Plan Amortization Of Prior Service Cost Credit | 0 | 0 | |
Defined Benefit Plan Net Periodic Benefit Cost | 300,000 | 1,200,000 | 3,000,000 |
Related Intercompany Allocationsof Defined Benefit Expense | 700,000 | 1,300,000 | 1,500,000 |
Amount Capitalized Defined Benefit Expense | 200,000 | 600,000 | 1,600,000 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair Value of Plan Assets Beginning Balance | 35,300,000 | 31,000,000 | |
Defined Benefit Plan, Actual Return on Plan Assets | 1,600,000 | 6,000,000 | |
Defined Benefit Plan, Contributions by Employer | 400,000 | 1,200,000 | |
Defined Benefit Plan, Benefits Paid | -1,900,000 | -2,900,000 | |
Fair Value of Plan Assets Ending Balance | 34,400,000 | 35,300,000 | 31,000,000 |
ChangeInAssetsDueToServiceCompanyMerger | -1,000,000 | ||
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | |||
Defined Benefit Plan, Funded Status of Plan | -2,200,000 | -3,400,000 | |
Level 3 Rollforwards | |||
Fair Value of Plan Assets Beginning Balance | 35,300,000 | 31,000,000 | |
Fair Value of Plan Assets Ending Balance | $34,400,000 | $35,300,000 | $31,000,000 |
Defined_Contribution_Plans_Det
Defined Contribution Plans (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Defined Contribution Plan, Cost Recognized | $29.70 | $37 | $25.70 |
The Connecticut Light And Power Company [Member] | |||
Defined Contribution Plan, Cost Recognized | 5 | 5.1 | 4.8 |
NSTAR Electric Company [Member] | |||
Defined Contribution Plan, Cost Recognized | 6.3 | 8.5 | 9 |
Western Massachusetts Electric Company [Member] | |||
Defined Contribution Plan, Cost Recognized | 1 | 1 | 0.9 |
Public Service Company Of New Hampshire [Member] | |||
Defined Contribution Plan, Cost Recognized | $3.20 | $3.30 | $3.30 |
Employee_Stock_Ownership_Plan_
Employee Stock Ownership Plan (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Notes To Consolidated Financial Statements [Abstract] | |||
Employee Stock Ownership Plan (ESOP), Compensation Expense | $22 | $9.10 | $8.90 |
ShareBased_Payments_Details
Share-Based Payments (Details) (USD $) | 0 Months Ended | 12 Months Ended | |||
Apr. 09, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Employee Service Share-based Compensation, Aggregate Disclosures [Abstract] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 8,000,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 3,112,020 | 3,440,590 | |||
AllocatedShareBasedCompensationExpense | $24,600,000 | $27,000,000 | $25,800,000 | ||
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | 10,300,000 | 10,700,000 | 10,200,000 | ||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | 15,700,000 | ||||
Description Of Compensation Cost Not Yet Recognized Period For Recognition | This cost is expected to be recognized ratably over a weighted-average period of 1.65 years for NU, 1.68 years for CL&P, 1.69 years for NSTAR Electric, 1.71 years for PSNH and 1.68 years for WMECO. | ||||
Employee Service Share Based Compensation Awards Other Than Options Disclosures [Abstract] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 1,024,729 | 1,162,216 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $38.14 | $36.58 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 437,887 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | $37.36 | ||||
Share Based Compensation Arrangement By Share Based Payment Award Vested Outstanding Number | 356,018 | ||||
Share Based Compensation Arrangement By Share Based Payment Award Expected To Vest | 973,493 | ||||
Share-based Compensation Arrangement By Share-based Payment Award, Equity Instruments Other Than Options, NSTAR Deferred And Performance Awards Converted Upon Merger | 421,775 | ||||
Share-based Compensation Arrangement By Share-based Payment Award Equity Instruments Other Than Options NSTAR Deferred And Performance Awards Converted Upon Merger, Value | 15.5 | ||||
Share-based Compensation Arrangement By Share-based Payment Award, Equity Instruments Other Than Options, NSTAR RSU Retention Awards Converted To NU RSU's Upon Merger | 195,619 | ||||
Share-based Compensation Arrangement By Share-based Payment Award, Equity Instruments Other Than Options, NSTAR RSU Retention Awards Converted To NU RSU's Upon Merger, Value | 7.2 | ||||
Employee Service Share Based Compensation Stock Option Disclosures [Abstract] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 351,616 | 1,221,375 | 1,545,757 | 47,374 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | -869,759 | -324,382 | -1,166,511 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $26.69 | $25.97 | $24.92 | $18.78 | |
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice | $25.68 | $20.97 | $22.53 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Total Intrinsic Value | 16,400,000 | 6,700,000 | 18,700,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | 9,400,000 | ||||
Employee Service Share-based Compensation, Cash Received from Exercise of Stock Options | 22,300,000 | ||||
Employee Service Share-based Compensation, Tax Benefit Realized from Exercise of Stock Options | 6,600,000 | ||||
Share-based Compensation Arrangement By Share-based Payment Award, Options, Converted NSTAR Options Upon Merger | 2,664,894 | ||||
Share-based Compensation Arrangement By Share-based Payment Award, Options, Converted NSTAR Options Upon Merger, Weighted Average Exercise Price | $23.99 | ||||
Share-based Compensation Arrangement By Share-based Payment Award, Options, Converted NSTAR Options Upon Merger, Total Value | 30.5 | ||||
Employee Service Share Based Compensation E S P P Disclosures [Abstract] | |||||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 40,779 | 39,526 | |||
Employee Stock Purchase Plan Shares Remaining For Future Issuance | 776,975 | 817,754 | |||
ESPP Discounted Purchase Price First Six Months | 41.61 | 38.69 | |||
ESPP Discounted Purchase Price Second Six Months | 41.71 | 42.19 | |||
Deferred Compensation Liability, Classified, Noncurrent [Abstract] | |||||
Deferred Compensation Cash-based Arrangements, Liability, Classified, Noncurrent | 57,500,000 | 51,300,000 | 54,600,000 | ||
Deferred Compensation Cash-based Arrangements, Expense Pertaining to Deferred Benefits | 4,500,000 | 4,400,000 | 4,700,000 | ||
The Connecticut Light And Power Company [Member] | |||||
Employee Service Share-based Compensation, Aggregate Disclosures [Abstract] | |||||
AllocatedShareBasedCompensationExpense | 8,100,000 | 6,800,000 | 4,800,000 | ||
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | 3,400,000 | 2,700,000 | 1,900,000 | ||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | 6,100,000 | ||||
Deferred Compensation Liability, Classified, Noncurrent [Abstract] | |||||
Deferred Compensation Cash-based Arrangements, Liability, Classified, Noncurrent | 400,000 | 400,000 | 400,000 | ||
Deferred Compensation Cash-based Arrangements, Expense Pertaining to Deferred Benefits | 2,100,000 | 2,500,000 | 2,600,000 | ||
NSTAR Electric Company [Member] | |||||
Employee Service Share-based Compensation, Aggregate Disclosures [Abstract] | |||||
AllocatedShareBasedCompensationExpense | 7,400,000 | 7,500,000 | 7,400,000 | ||
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | 3,100,000 | 3,000,000 | 2,900,000 | ||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | 4,300,000 | ||||
Deferred Compensation Liability, Classified, Noncurrent [Abstract] | |||||
Deferred Compensation Cash-based Arrangements, Expense Pertaining to Deferred Benefits | 300,000 | ||||
Public Service Company Of New Hampshire [Member] | |||||
Employee Service Share-based Compensation, Aggregate Disclosures [Abstract] | |||||
AllocatedShareBasedCompensationExpense | 3,000,000 | 2,300,000 | 1,800,000 | ||
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | 1,300,000 | 900,000 | 700,000 | ||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | 2,000,000 | ||||
Deferred Compensation Liability, Classified, Noncurrent [Abstract] | |||||
Deferred Compensation Cash-based Arrangements, Liability, Classified, Noncurrent | 2,600,000 | 2,300,000 | 2,500,000 | ||
Deferred Compensation Cash-based Arrangements, Expense Pertaining to Deferred Benefits | 900,000 | 1,000,000 | 1,000,000 | ||
Western Massachusetts Electric Company [Member] | |||||
Employee Service Share-based Compensation, Aggregate Disclosures [Abstract] | |||||
AllocatedShareBasedCompensationExpense | 1,300,000 | 1,300,000 | 1,000,000 | ||
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | 500,000 | 500,000 | 400,000 | ||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | 1,000,000 | ||||
Deferred Compensation Liability, Classified, Noncurrent [Abstract] | |||||
Deferred Compensation Cash-based Arrangements, Liability, Classified, Noncurrent | 200,000 | 100,000 | 200,000 | ||
Deferred Compensation Cash-based Arrangements, Expense Pertaining to Deferred Benefits | $400,000 | $500,000 | $500,000 | ||
Restricted Stock Units (RSUs) [Member] | |||||
Employee Service Share Based Compensation Awards Other Than Options Disclosures [Abstract] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 338,576 | 373,939 | 614,930 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period | -567,209 | -891,129 | -363,779 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | -27,060 | -29,689 | -96,504 | ||
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Ending Balance | 1,380,747 | 1,636,440 | 2,183,319 | 959,920 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $42.27 | $39.56 | $33.04 | ||
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Issued In Period Weighted Average Grant Date Fair Value | $33.48 | $32.15 | $29.05 | ||
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue | $39.62 | $33.75 | $34.97 | ||
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Weighted Average Grant Date Fair Value Ending Balance | $35.67 | $33.61 | $31.99 | $26.36 | |
Share-based Compensation Arrangement By Share-based Payment Award Equity Instruments Other Than Options NSTAR Awards Converted To NU RSU's Upon Merger | 617,394 | ||||
Share-based Compensation Arrangement By Share-based Payment Award, Equity Instruments Other Than Options, NSTAR Awards Converted To NU RSU's Upon Merger, Weighted Average Grant Date Fair Value | $36.79 | ||||
Employee Service Share Based Compensation Performance Share Disclosures [Abstract] | |||||
Share-based Compensation Arrangement By Share-based Payment Award, Performance Shares Converted To RSU's Upon Merger | 451,358 | ||||
Share-based Compensation Arrangement By Share-based Payment Award, Performance Shares Converted To RSU's Upon Merger, Weighted Average Grant-Date Fair Value | $34.32 | ||||
Performance Shares [Member] | |||||
Employee Service Share Based Compensation Awards Other Than Options Disclosures [Abstract] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 193,396 | 191,961 | 225,935 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period | -2,009 | -150,944 | -106,773 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | -6,171 | -1,526 | |||
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Ending Balance | 375,644 | 190,428 | 150,937 | 483,133 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $43.40 | $40.96 | $35.09 | ||
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Issued In Period Weighted Average Grant Date Fair Value | $41.46 | $25.04 | $24.52 | ||
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue | $42.02 | $40.93 | |||
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Weighted Average Grant Date Fair Value Ending Balance | $42.20 | $40.96 | $25.04 | $29.18 |
INCOME_TAXES_Details
INCOME TAXES (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Current Federal Tax Expense (Benefit) | $4,400,000 | $8,800,000 | ($30,900,000) |
Current State and Local Tax Expense (Benefit) | 24,500,000 | -9,400,000 | 17,600,000 |
Total Current Income Tax Expense (Benefit) | 28,900,000 | -600,000 | -13,300,000 |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Deferred Federal Income Tax Expense (Benefit) | 406,800,000 | 386,200,000 | 291,300,000 |
Deferred State and Local Income Tax Expense (Benefit) | 36,500,000 | 45,400,000 | 800,000 |
Total Deferred Income Taxes | 443,259,000 | 431,413,000 | 292,000,000 |
Investment Tax Credit | -3,900,000 | -4,100,000 | -3,900,000 |
Income Tax Expense | 468,297,000 | 426,941,000 | 274,926,000 |
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract] | |||
Income Before Income Tax Expense | 1,295,362,000 | 1,220,630,000 | 808,003,000 |
Income Tax Reconciliation, Income Tax Expense (Benefit), at Federal Statutory Income Tax Rate | 453,400,000 | 427,200,000 | 282,800,000 |
Tax Effect Of Differences [Abstract] | |||
Income Tax Reconciliation, Nondeductible Expense, Depreciation | -5,600,000 | -7,400,000 | -10,800,000 |
Investment Tax Credit | -3,900,000 | -4,100,000 | -3,900,000 |
Income Tax Reconciliation, Tax Credits, Other | -3,500,000 | -3,700,000 | -3,800,000 |
Income Tax Reconciliation, State and Local Income Taxes | 42,500,000 | 27,600,000 | 4,400,000 |
Income Tax Rate Reconciliation Deductions Employee Stock Ownership Plan Dividends | -8,000,000 | -8,000,000 | -6,400,000 |
Tax Asset Valuation Allowance / Reserve Adjustments | -2,900,000 | -4,300,000 | 7,600,000 |
Income Tax Reconciliation, Other Adjustments | -3,700,000 | -400,000 | 5,000,000 |
Income Tax Expense | 468,297,000 | 426,941,000 | 274,926,000 |
Effective Income Tax Rate, Continuing Operations | 36.20% | 35.00% | 34.00% |
Deferred Tax Assets, Net [Abstract] | |||
Deferred Tax Assets Employee Benefits | 632,200,000 | 435,200,000 | |
Deferred Tax Assets, Derivative Instruments | 199,600,000 | 272,900,000 | |
Deferred Tax Assets, Regulatory Assets and Liabilities | 366,700,000 | 272,700,000 | |
Deferred Tax Assets, Allowance for Doubtful Accounts | 60,500,000 | 65,000,000 | |
Deferred Tax Assets Tax Effect Tax Regulatory Liabilities | 10,000,000 | 16,200,000 | |
Deferred Tax Assets, Operating Loss Carryforwards | 59,100,000 | 158,000,000 | |
Purchase Accounting Deferred Tax Asset | 126,200,000 | 132,800,000 | |
Deferred Tax Assets, Other | 198,700,000 | 230,600,000 | |
Deferred Tax Assets, Gross | 1,653,000,000 | 1,583,400,000 | |
Deferred Tax Assets, Valuation Allowance | 5,100,000 | 24,300,000 | |
Deferred Tax Assets, Net | 1,647,900,000 | 1,559,100,000 | |
Deferred Tax Liabilities [Abstract] | |||
Deferred Tax Liabilities, Property, Plant and Equipment | 4,215,900,000 | 3,806,500,000 | |
Deferred Tax Liabilities Resulting From Property Tax Accruals And Other | 109,600,000 | 95,100,000 | |
Deferred Tax Liabilities, Regulatory Amounts [Abstract] | |||
Deferred Tax Liabilities Regulatory Assets Other Regulatory Deferrals | 1,277,900,000 | 1,146,700,000 | |
Deferred Tax Liabilities Regulatory Assets Tax Effect Tax Regulatory Assets | 240,200,000 | 248,200,000 | |
Deferred Tax Liabilities Goodwill Regulatory Asset | 203,200,000 | 211,500,000 | |
Deferred Tax Liabilities Regulatory Assets Derivative Assets | 32,600,000 | 30,100,000 | |
Deferred Tax Liabilities, Other | 196,300,000 | 157,100,000 | |
Deferred Tax Liabilities, Total | 6,275,700,000 | 5,695,200,000 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Unrecognized Tax Benefits, Beginning Balance | 38,200,000 | 83,100,000 | 73,500,000 |
Unrecognized Tax Benefits, Increases Resulting from Current Period Tax Positions | 9,300,000 | 8,200,000 | 10,300,000 |
Unrecognized Tax Benefits, Increases Resulting from Prior Period Tax Positions | 300,000 | 100,000 | |
Unrecognized Tax Benefits, Decreases Resulting from Prior Period Tax Positions | -1,100,000 | -800,000 | |
Unrecognized Tax Benefits, Decreases Resulting from Settlements with Taxing Authorities | -49,800,000 | ||
Unrecognized Tax Benefits, Reductions Resulting from Lapse of Applicable Statute of Limitations | -1,600,000 | -2,200,000 | |
Unrecognized Tax Benefits, Ending Balance | 46,200,000 | 38,200,000 | 83,100,000 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense and Accrued Interest [Abstract] | |||
Unrecognized Tax Benefits, Interest on Income Taxes Expense | 400,000 | -8,600,000 | 3,100,000 |
Unrecognized Tax Benefits, Interest on Income Taxes Accrued | 1,900,000 | 1,500,000 | |
Income Tax Uncertainties [Abstract] | |||
Income Tax Examination Description | Tax Positions: During 2014, NU did not resolve any of its uncertain tax positions. | During 2013, NU received a Final Determination from the Connecticut Department of Revenue Services (DRS) that concluded its audit of NU's Connecticut income tax returns for the years 2005 through 2008. The DRS Determination resulted in total NU and CL&P after-tax benefits of $13.6 million and $6.9 million, respectively, that included a reduction in NU and CL&P pre-tax interest expense of $8.7 million and $4 million, or $5.2 million and $2.4 million after-tax, respectively. Further, the income tax expense impact resulted in a tax benefit to NU and CL&P of $8.4 million and $4.5 million after-tax, respectively. | |
Tax Adjustments, Settlements - Total Impact | -13,600,000 | ||
Tax Adjustments, Settlements - Tax Expense Impact | -8,400,000 | ||
Tax Years [Abstract] | |||
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Other Information | NU estimates that during the next twelve months, differences of a non-timing nature could be resolved, resulting in a zero to $2 million decrease in unrecognized tax benefits by NU. These estimated changes are not expected to have a material impact on the earnings of NU. Other companies' impacts are not expected to be material. | ||
Other Tax Disclosures [Abstract] | |||
Other Information Pertaining To Income Taxes | 2014 Federal Legislation: On December 19, 2014, the "Tax Increase Prevention Act of 2014" became law, which extended the accelerated deduction of depreciation to businesses through 2014. This extended stimulus provides NU with cash flow benefits of approximately $200 million (approximately $70 million at CL&P, $50 million at NSTAR Electric, $35 million at PSNH, and $15 million at WMECO) in 2015. 2013 Federal Legislation: On January 2, 2013, the "American Taxpayer Relief Act of 2012" became law, which extended the accelerated deduction of depreciation to businesses through 2013. This extended stimulus provided NU with cash flow benefits of approximately $300 million (approximately $95 million at CL&P, $85 million at NSTAR Electric, $35 million at PSNH, and $50 million at WMECO). On September 13, 2013, the Internal Revenue Service issued final Tangible Property regulations that are meant to simplify, clarify and make more administrable previously issued guidance. NU is in compliance with the new regulations, but continues to evaluate several new potential elections. 2013 Massachusetts: On July 24, 2013, Massachusetts enacted a law that changed the income tax rate applicable to utility companies effective January 1, 2014, from 6.5 percent to 8 percent. The tax law change required NU to remeasure its accumulated deferred income taxes and resulted in NU increasing its deferred tax liability with an offsetting regulatory asset of approximately $61 million at its utility companies ($46.3 million at NSTAR Electric and $9.8 million at WMECO). | ||
Federal [Member] | |||
Operating Loss Carryforwards and Tax Credit Carryforwards [Abstract] | |||
Operating Loss Carryforwards | 168,800,000 | 451,300,000 | |
Tax Credit Carryforward, Amount | 16,300,000 | 8,000,000 | |
Charitable Contribution | 19,400,000 | 33,700,000 | |
State and Local Jurisdiction [Member] | |||
Operating Loss Carryforwards and Tax Credit Carryforwards [Abstract] | |||
Operating Loss Carryforwards | 40,600,000 | 12,100,000 | |
Tax Credit Carryforward, Amount | 99,700,000 | 104,700,000 | |
Charitable Contribution | 2,100,000 | 1,000,000 | |
Tax Credit and Operating Loss Carryforward Valuation Allowance | 4,400,000 | 23,700,000 | |
The Connecticut Light And Power Company [Member] | |||
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Current Federal Tax Expense (Benefit) | -200,000 | 20,100,000 | -47,800,000 |
Current State and Local Tax Expense (Benefit) | 4,300,000 | -6,700,000 | 3,100,000 |
Total Current Income Tax Expense (Benefit) | 4,100,000 | 13,400,000 | -44,700,000 |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Deferred Federal Income Tax Expense (Benefit) | 138,000,000 | 114,900,000 | 141,500,000 |
Deferred State and Local Income Tax Expense (Benefit) | -7,100,000 | 15,100,000 | -500,000 |
Total Deferred Income Taxes | 130,949,000 | 130,038,000 | 140,993,000 |
Investment Tax Credit | -1,500,000 | -1,700,000 | -1,900,000 |
Income Tax Expense | 133,451,000 | 141,663,000 | 94,437,000 |
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract] | |||
Income Before Income Tax Expense | 421,205,000 | 421,075,000 | 304,162,000 |
Income Tax Reconciliation, Income Tax Expense (Benefit), at Federal Statutory Income Tax Rate | 147,400,000 | 147,400,000 | 106,500,000 |
Tax Effect Of Differences [Abstract] | |||
Income Tax Reconciliation, Nondeductible Expense, Depreciation | -3,600,000 | -7,000,000 | -9,000,000 |
Investment Tax Credit | -1,500,000 | -1,700,000 | -1,900,000 |
Income Tax Reconciliation, Tax Credits, Other | 0 | 0 | 0 |
Income Tax Reconciliation, State and Local Income Taxes | 4,400,000 | 5,000,000 | 100,000 |
Tax Asset Valuation Allowance / Reserve Adjustments | -6,300,000 | 400,000 | 1,600,000 |
Income Tax Reconciliation, Other Adjustments | -6,900,000 | -2,400,000 | -2,900,000 |
Income Tax Expense | 133,451,000 | 141,663,000 | 94,437,000 |
Effective Income Tax Rate, Continuing Operations | 31.70% | 33.60% | 31.00% |
Deferred Tax Assets, Net [Abstract] | |||
Deferred Tax Assets Employee Benefits | 129,000,000 | 56,000,000 | |
Deferred Tax Assets, Derivative Instruments | 193,000,000 | 272,400,000 | |
Deferred Tax Assets, Regulatory Assets and Liabilities | 73,900,000 | 61,500,000 | |
Deferred Tax Assets, Allowance for Doubtful Accounts | 32,300,000 | 31,200,000 | |
Deferred Tax Assets Tax Effect Tax Regulatory Liabilities | 3,100,000 | 4,700,000 | |
Deferred Tax Assets, Operating Loss Carryforwards | 0 | 51,000,000 | |
Deferred Tax Assets, Other | 53,800,000 | 75,300,000 | |
Deferred Tax Assets, Gross | 485,100,000 | 552,100,000 | |
Deferred Tax Assets, Valuation Allowance | 4,000,000 | 23,100,000 | |
Deferred Tax Assets, Net | 481,100,000 | 529,000,000 | |
Deferred Tax Liabilities [Abstract] | |||
Deferred Tax Liabilities, Property, Plant and Equipment | 1,378,600,000 | 1,238,100,000 | |
Deferred Tax Liabilities Resulting From Property Tax Accruals And Other | 58,100,000 | 49,300,000 | |
Deferred Tax Liabilities, Regulatory Amounts [Abstract] | |||
Deferred Tax Liabilities Regulatory Assets Other Regulatory Deferrals | 502,300,000 | 550,400,000 | |
Deferred Tax Liabilities Regulatory Assets Tax Effect Tax Regulatory Assets | 166,900,000 | 160,100,000 | |
Deferred Tax Liabilities Regulatory Assets Derivative Assets | 32,600,000 | 29,000,000 | |
Deferred Tax Liabilities, Other | 19,400,000 | 20,600,000 | |
Deferred Tax Liabilities, Total | 2,157,900,000 | 2,047,500,000 | |
Operating Loss Carryforwards and Tax Credit Carryforwards [Abstract] | |||
Tax Credit Carryforward Description | In 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 $19.2 million at CL&P, net of tax, to reflect an update for expired state credits and latest estimate of usage. | ||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Unrecognized Tax Benefits, Beginning Balance | 11,400,000 | 49,000,000 | 46,500,000 |
Unrecognized Tax Benefits, Increases Resulting from Current Period Tax Positions | 2,700,000 | 2,100,000 | 2,500,000 |
Unrecognized Tax Benefits, Increases Resulting from Prior Period Tax Positions | 200,000 | 0 | |
Unrecognized Tax Benefits, Decreases Resulting from Prior Period Tax Positions | -300,000 | 0 | |
Unrecognized Tax Benefits, Decreases Resulting from Settlements with Taxing Authorities | -39,400,000 | ||
Unrecognized Tax Benefits, Ending Balance | 14,300,000 | 11,400,000 | 49,000,000 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense and Accrued Interest [Abstract] | |||
Unrecognized Tax Benefits, Interest on Income Taxes Expense | 0 | -4,000,000 | 1,300,000 |
Unrecognized Tax Benefits, Interest on Income Taxes Accrued | 0 | 0 | |
Income Tax Uncertainties [Abstract] | |||
Income Tax Examination Description | During 2013, NU received a Final Determination from the Connecticut Department of Revenue Services (DRS) that concluded its audit of NU's Connecticut income tax returns for the years 2005 through 2008. The DRS Determination resulted in total NU and CL&P after-tax benefits of $13.6 million and $6.9 million, respectively, that included a reduction in NU and CL&P pre-tax interest expense of $8.7 million and $4 million, or $5.2 million and $2.4 million after-tax, respectively. Further, the income tax expense impact resulted in a tax benefit to NU and CL&P of $8.4 million and $4.5 million after-tax, respectively. | ||
Tax Adjustments, Settlements - Total Impact | -6,900,000 | ||
Tax Adjustments, Settlements - Tax Expense Impact | -4,500,000 | ||
The Connecticut Light And Power Company [Member] | Federal [Member] | |||
Operating Loss Carryforwards and Tax Credit Carryforwards [Abstract] | |||
Operating Loss Carryforwards | 0 | 145,800,000 | |
Tax Credit Carryforward, Amount | 100,000 | 0 | |
The Connecticut Light And Power Company [Member] | State and Local Jurisdiction [Member] | |||
Operating Loss Carryforwards and Tax Credit Carryforwards [Abstract] | |||
Operating Loss Carryforwards | 0 | 0 | |
Tax Credit Carryforward, Amount | 71,000,000 | 86,800,000 | |
NSTAR Electric Company [Member] | |||
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Current Federal Tax Expense (Benefit) | 75,000,000 | 95,800,000 | 93,500,000 |
Current State and Local Tax Expense (Benefit) | 20,200,000 | 29,600,000 | 27,600,000 |
Total Current Income Tax Expense (Benefit) | 95,200,000 | 125,400,000 | 121,100,000 |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Deferred Federal Income Tax Expense (Benefit) | 88,000,000 | 49,800,000 | 11,400,000 |
Deferred State and Local Income Tax Expense (Benefit) | 20,100,000 | -1,000,000 | -7,100,000 |
Total Deferred Income Taxes | 108,133,000 | 48,808,000 | 4,264,000 |
Investment Tax Credit | -1,300,000 | -1,300,000 | -1,400,000 |
Income Tax Expense | 201,981,000 | 172,866,000 | 123,966,000 |
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract] | |||
Income Before Income Tax Expense | 505,069,000 | 441,412,000 | 314,208,000 |
Income Tax Reconciliation, Income Tax Expense (Benefit), at Federal Statutory Income Tax Rate | 176,800,000 | 154,500,000 | 110,000,000 |
Tax Effect Of Differences [Abstract] | |||
Income Tax Reconciliation, Nondeductible Expense, Depreciation | -1,300,000 | 100,000 | 0 |
Investment Tax Credit | -1,300,000 | -1,300,000 | -1,400,000 |
Income Tax Reconciliation, Tax Credits, Other | 0 | 0 | 0 |
Income Tax Reconciliation, State and Local Income Taxes | 26,200,000 | 18,600,000 | 13,400,000 |
Income Tax Reconciliation, Other Adjustments | 1,600,000 | 1,000,000 | 2,000,000 |
Income Tax Expense | 201,981,000 | 172,866,000 | 123,966,000 |
Effective Income Tax Rate, Continuing Operations | 40.00% | 39.20% | 39.50% |
Deferred Tax Assets, Net [Abstract] | |||
Deferred Tax Assets Employee Benefits | 39,900,000 | 38,300,000 | |
Deferred Tax Assets, Derivative Instruments | 1,800,000 | 3,300,000 | |
Deferred Tax Assets, Regulatory Assets and Liabilities | 181,300,000 | 114,700,000 | |
Deferred Tax Assets, Allowance for Doubtful Accounts | 13,800,000 | 15,400,000 | |
Deferred Tax Assets Tax Effect Tax Regulatory Liabilities | 1,800,000 | 5,400,000 | |
Deferred Tax Assets, Operating Loss Carryforwards | 0 | 0 | |
Deferred Tax Assets, Other | 19,900,000 | 31,300,000 | |
Deferred Tax Assets, Gross | 258,500,000 | 208,400,000 | |
Deferred Tax Liabilities [Abstract] | |||
Deferred Tax Liabilities, Property, Plant and Equipment | 1,296,900,000 | 1,179,400,000 | |
Deferred Tax Liabilities Resulting From Property Tax Accruals And Other | 25,000,000 | 25,300,000 | |
Deferred Tax Liabilities, Regulatory Amounts [Abstract] | |||
Deferred Tax Liabilities Regulatory Assets Other Regulatory Deferrals | 276,000,000 | 276,200,000 | |
Deferred Tax Liabilities Regulatory Assets Tax Effect Tax Regulatory Assets | 35,500,000 | 36,000,000 | |
Deferred Tax Liabilities Goodwill Regulatory Asset | 174,400,000 | 181,600,000 | |
Deferred Tax Liabilities Regulatory Assets Derivative Assets | 0 | 500,000 | |
Deferred Tax Liabilities, Other | 33,500,000 | 26,400,000 | |
Deferred Tax Liabilities, Total | 1,841,300,000 | 1,725,400,000 | |
NSTAR Electric Company [Member] | Federal [Member] | |||
Operating Loss Carryforwards and Tax Credit Carryforwards [Abstract] | |||
Operating Loss Carryforwards | 0 | 0 | |
Tax Credit Carryforward, Amount | 200,000 | 0 | |
NSTAR Electric Company [Member] | State and Local Jurisdiction [Member] | |||
Operating Loss Carryforwards and Tax Credit Carryforwards [Abstract] | |||
Operating Loss Carryforwards | 0 | 0 | |
Tax Credit Carryforward, Amount | 0 | 0 | |
Public Service Company Of New Hampshire [Member] | |||
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Current Federal Tax Expense (Benefit) | -22,600,000 | -8,200,000 | -900,000 |
Current State and Local Tax Expense (Benefit) | -100,000 | 3,600,000 | 3,400,000 |
Total Current Income Tax Expense (Benefit) | -22,700,000 | -4,600,000 | 2,500,000 |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Deferred Federal Income Tax Expense (Benefit) | 79,600,000 | 64,500,000 | 46,500,000 |
Deferred State and Local Income Tax Expense (Benefit) | 15,200,000 | 11,200,000 | 12,000,000 |
Total Deferred Income Taxes | 94,813,000 | 75,693,000 | 58,552,000 |
Investment Tax Credit | 0 | 0 | 0 |
Income Tax Expense | 72,135,000 | 71,101,000 | 60,993,000 |
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract] | |||
Income Before Income Tax Expense | 186,079,000 | 182,498,000 | 157,875,000 |
Income Tax Reconciliation, Income Tax Expense (Benefit), at Federal Statutory Income Tax Rate | 65,100,000 | 63,900,000 | 55,300,000 |
Tax Effect Of Differences [Abstract] | |||
Income Tax Reconciliation, Nondeductible Expense, Depreciation | 300,000 | 600,000 | -300,000 |
Investment Tax Credit | 0 | 0 | 0 |
Income Tax Reconciliation, Tax Credits, Other | -3,500,000 | -3,700,000 | -3,800,000 |
Income Tax Reconciliation, State and Local Income Taxes | 9,800,000 | 9,600,000 | 10,000,000 |
Income Tax Reconciliation, Other Adjustments | 400,000 | 700,000 | -200,000 |
Income Tax Expense | 72,135,000 | 71,101,000 | 60,993,000 |
Effective Income Tax Rate, Continuing Operations | 38.70% | 39.00% | 38.60% |
Deferred Tax Assets, Net [Abstract] | |||
Deferred Tax Assets Employee Benefits | 46,800,000 | 15,500,000 | |
Deferred Tax Assets, Derivative Instruments | 0 | 0 | |
Deferred Tax Assets, Regulatory Assets and Liabilities | 46,500,000 | 40,900,000 | |
Deferred Tax Assets, Allowance for Doubtful Accounts | 3,200,000 | 3,100,000 | |
Deferred Tax Assets Tax Effect Tax Regulatory Liabilities | 2,100,000 | 2,100,000 | |
Deferred Tax Assets, Operating Loss Carryforwards | 32,100,000 | 56,600,000 | |
Deferred Tax Assets, Other | 48,900,000 | 40,300,000 | |
Deferred Tax Assets, Gross | 179,600,000 | 158,500,000 | |
Deferred Tax Liabilities [Abstract] | |||
Deferred Tax Liabilities, Property, Plant and Equipment | 596,600,000 | 526,600,000 | |
Deferred Tax Liabilities Resulting From Property Tax Accruals And Other | 7,400,000 | 7,100,000 | |
Deferred Tax Liabilities, Regulatory Amounts [Abstract] | |||
Deferred Tax Liabilities Regulatory Assets Other Regulatory Deferrals | 147,600,000 | 109,300,000 | |
Deferred Tax Liabilities Regulatory Assets Tax Effect Tax Regulatory Assets | 15,900,000 | 16,300,000 | |
Deferred Tax Liabilities Regulatory Assets Derivative Assets | 0 | 0 | |
Deferred Tax Liabilities, Other | 35,600,000 | 28,000,000 | |
Deferred Tax Liabilities, Total | 803,100,000 | 687,300,000 | |
Public Service Company Of New Hampshire [Member] | Federal [Member] | |||
Operating Loss Carryforwards and Tax Credit Carryforwards [Abstract] | |||
Operating Loss Carryforwards | 91,800,000 | 161,800,000 | |
Tax Credit Carryforward, Amount | 11,100,000 | 7,600,000 | |
Public Service Company Of New Hampshire [Member] | State and Local Jurisdiction [Member] | |||
Operating Loss Carryforwards and Tax Credit Carryforwards [Abstract] | |||
Operating Loss Carryforwards | 0 | 0 | |
Tax Credit Carryforward, Amount | 0 | 0 | |
Western Massachusetts Electric Company [Member] | |||
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Current Federal Tax Expense (Benefit) | 1,900,000 | -53,400,000 | -24,700,000 |
Current State and Local Tax Expense (Benefit) | 1,800,000 | 4,200,000 | 3,400,000 |
Total Current Income Tax Expense (Benefit) | 3,700,000 | -49,200,000 | -21,300,000 |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Deferred Federal Income Tax Expense (Benefit) | 28,100,000 | 84,700,000 | 51,200,000 |
Deferred State and Local Income Tax Expense (Benefit) | 6,000,000 | 2,300,000 | 2,700,000 |
Total Deferred Income Taxes | 34,108,000 | 87,028,000 | 53,942,000 |
Investment Tax Credit | -500,000 | -400,000 | -500,000 |
Income Tax Expense | 37,268,000 | 37,368,000 | 32,140,000 |
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract] | |||
Income Before Income Tax Expense | 95,087,000 | 97,806,000 | 86,643,000 |
Income Tax Reconciliation, Income Tax Expense (Benefit), at Federal Statutory Income Tax Rate | 33,300,000 | 34,200,000 | 30,300,000 |
Tax Effect Of Differences [Abstract] | |||
Income Tax Reconciliation, Nondeductible Expense, Depreciation | -200,000 | 0 | 200,000 |
Investment Tax Credit | -500,000 | -400,000 | -500,000 |
Income Tax Reconciliation, Tax Credits, Other | 0 | 0 | 0 |
Income Tax Reconciliation, State and Local Income Taxes | 5,000,000 | 4,200,000 | 4,000,000 |
Income Tax Reconciliation, Other Adjustments | -300,000 | -600,000 | -1,900,000 |
Income Tax Expense | 37,268,000 | 37,368,000 | 32,140,000 |
Effective Income Tax Rate, Continuing Operations | 39.20% | 38.20% | 37.10% |
Deferred Tax Assets, Net [Abstract] | |||
Deferred Tax Assets Employee Benefits | 9,200,000 | -1,800,000 | |
Deferred Tax Assets, Derivative Instruments | 0 | -2,900,000 | |
Deferred Tax Assets, Regulatory Assets and Liabilities | 11,400,000 | 1,000,000 | |
Deferred Tax Assets, Allowance for Doubtful Accounts | 3,800,000 | 3,300,000 | |
Deferred Tax Assets Tax Effect Tax Regulatory Liabilities | 2,500,000 | 1,600,000 | |
Deferred Tax Assets, Operating Loss Carryforwards | 4,500,000 | 18,600,000 | |
Deferred Tax Assets, Other | 4,900,000 | 8,300,000 | |
Deferred Tax Assets, Gross | 36,300,000 | 28,100,000 | |
Deferred Tax Liabilities [Abstract] | |||
Deferred Tax Liabilities, Property, Plant and Equipment | 385,800,000 | 361,100,000 | |
Deferred Tax Liabilities Resulting From Property Tax Accruals And Other | 12,800,000 | 5,900,000 | |
Deferred Tax Liabilities, Regulatory Amounts [Abstract] | |||
Deferred Tax Liabilities Regulatory Assets Other Regulatory Deferrals | 60,400,000 | 49,300,000 | |
Deferred Tax Liabilities Regulatory Assets Tax Effect Tax Regulatory Assets | 9,300,000 | 18,200,000 | |
Deferred Tax Liabilities Regulatory Assets Derivative Assets | 0 | 0 | |
Deferred Tax Liabilities, Other | 2,800,000 | 3,600,000 | |
Deferred Tax Liabilities, Total | 471,100,000 | 438,100,000 | |
Western Massachusetts Electric Company [Member] | Federal [Member] | |||
Operating Loss Carryforwards and Tax Credit Carryforwards [Abstract] | |||
Operating Loss Carryforwards | 12,700,000 | 53,300,000 | |
Tax Credit Carryforward, Amount | 0 | 0 | |
Western Massachusetts Electric Company [Member] | State and Local Jurisdiction [Member] | |||
Operating Loss Carryforwards and Tax Credit Carryforwards [Abstract] | |||
Operating Loss Carryforwards | 0 | 0 | |
Tax Credit Carryforward, Amount | $0 | $0 |
Environmental_Matters_Details
Environmental Matters (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Site Contingency [Line Items] | ||
Environmental Site Quantity | 65 | 68 |
Accrual for Environmental Loss Contingencies [Roll Forward] | ||
Beginning Balance | $35.40 | $39.40 |
Accrual For Environmental Loss Contingencies Provision For New Losses | 12.7 | 3.5 |
Accrual for Environmental Loss Contingencies, Payments | -4.8 | -7.5 |
Ending Balance | 43.3 | 35.4 |
Site Contingency [Abstract] | ||
Information on range of possible loss and superfunds | CERCLA: Of the total environmental sites, 9 sites (1 for CL&P, 3 for NSTAR Electric and 3 for PSNH) are superfund sites under the federal Comprehensive Environmental Response, Compensation and Liability Act of 1980 (CERCLA) and its amendments or state equivalents for which the Company has been notified that it is a potentially responsible party but for which the site assessment and remediation are not being managed by the Company. As of December 31, 2014, a liability of $0.7 million accrued on these sites represents management's best estimate of its potential remediation costs with respect to these superfund sites. 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 $38.8 million and $31.4 million as of December 31, 2014 and 2013, respectively, and relates primarily to the natural gas business segment. The increase in the reserve balance for the MGP sites was due to the completion of the site assessment at three sites. The assessments provided new information related to the extent and nature of the contamination and the costs of required remediation. As of December 31, 2014, for 5 environmental sites (1 for CL&P, and 1 for WMECO) that are included in the Company's reserve for environmental costs, the information known and nature of the remediation options at those sites allow for the Company to estimate the range of losses for environmental costs. As of December 31, 2014, $17.7 million ($1 million for CL&P and $0.3 million for WMECO) had been accrued as a liability for these sites, which represent management's best estimates of the liabilities for environmental costs. These amounts are the best estimates with estimated ranges of additional losses from zero to $24 million. As of December 31, 2014, for 15 environmental sites (3 for CL&P, 3 for NSTAR Electric and 2 for PSNH) that are included in the Company’s reserve for environmental costs, management cannot reasonably estimate the exposure to loss in excess of the reserve, or range of loss, as these sites are under investigation and/or there is significant uncertainty as to what remedial actions, if any, the Company may be required to undertake. As of December 31, 2014, $13.4 million ($1.4 million for CL&P, $0.2 million for PSNH) had been accrued as a liability for these sites. As of December 31, 2014, for the remaining 45 environmental sites (12 for CL&P, 10 for NSTAR Electric, 11 for PSNH, and 3 for WMECO) that are included in the Company’s reserve for environmental costs, the $12.2 million accrual ($1.4 million for CL&P, $1.1 million for NSTAR Electric, $5 million for PSNH, and $0.2 million for WMECO) represents management’s best estimate of the liability and no additional loss is anticipated. | |
MGP Site accrual [Member] | ||
Accrual for Environmental Loss Contingencies [Roll Forward] | ||
Accrual For Environmental Loss Contingencies Component Amount | 38.8 | 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 | 3.7 |
Accrual For Environmental Loss Contingencies Provision For New Losses | 1 | 0.2 |
Accrual for Environmental Loss Contingencies, Payments | -0.6 | -0.5 |
Ending Balance | 3.8 | 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 | 1.7 |
Accrual For Environmental Loss Contingencies Provision For New Losses | 0 | 0.2 |
Accrual for Environmental Loss Contingencies, Payments | -0.1 | -0.7 |
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 | 4.9 |
Accrual For Environmental Loss Contingencies Provision For New Losses | 0.1 | 1 |
Accrual for Environmental Loss Contingencies, Payments | -0.3 | -0.5 |
Ending Balance | 5.2 | 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 | 0.6 |
Accrual For Environmental Loss Contingencies Provision For New Losses | 0.2 | 0 |
Accrual for Environmental Loss Contingencies, Payments | -0.1 | -0.2 |
Ending Balance | $0.50 | $0.40 |
LongTerm_Contractual_Arrangeme1
Long-Term Contractual Arrangements (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Long-term Purchase Commitment [Line Items] | |||
Unrecorded Unconditional Purchase Obligation, Due within One Year | $685.80 | ||
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 598.2 | ||
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 421.6 | ||
Unrecorded Unconditional Purchase Obligation, Due within Four Years | 327.6 | ||
Unrecorded Unconditional Purchase Obligation, Due within Five Years | 290 | ||
Unrecorded Unconditional Purchase Obligation, Due after Five Years | 2,198.40 | ||
Unrecorded Unconditional Purchase Obligation, Total | 4,521.60 | ||
Supply And Stranded Costs Obligations Incurred | 99.2 | 141 | 216.8 |
Natural Gas Procurement Costs Incurred | 482.5 | 349.8 | 243.1 |
Fuel Costs Incurred | 120.5 | 112.6 | 105.2 |
Transmission Support Commitment Costs Incurred | 25 | 24.9 | 24.8 |
Peaker CfD Expense Incurred | 18.1 | 51.9 | 59.3 |
Renewable Energy Costs Incurred | 114.4 | 91.3 | 48.7 |
Supply And Stranded Cost Obligations [Member] | |||
Long-term Purchase Commitment [Line Items] | |||
Unrecorded Unconditional Purchase Obligation, Due within One Year | 196.6 | ||
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 169.2 | ||
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 101.9 | ||
Unrecorded Unconditional Purchase Obligation, Due within Four Years | 65.3 | ||
Unrecorded Unconditional Purchase Obligation, Due within Five Years | 38.1 | ||
Unrecorded Unconditional Purchase Obligation, Due after Five Years | 82.4 | ||
Unrecorded Unconditional Purchase Obligation, Total | 653.5 | ||
Renewable Energy Contracts [Member] | |||
Long-term Purchase Commitment [Line Items] | |||
Unrecorded Unconditional Purchase Obligation, Due within One Year | 204.3 | ||
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 240.5 | ||
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 239.6 | ||
Unrecorded Unconditional Purchase Obligation, Due within Four Years | 204.2 | ||
Unrecorded Unconditional Purchase Obligation, Due within Five Years | 202.9 | ||
Unrecorded Unconditional Purchase Obligation, Due after Five Years | 1,994.60 | ||
Unrecorded Unconditional Purchase Obligation, Total | 3,086.10 | ||
Peaker Contracts For Differences [Member] | |||
Long-term Purchase Commitment [Line Items] | |||
Unrecorded Unconditional Purchase Obligation, Due within One Year | 26.3 | ||
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 25.4 | ||
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 10.5 | ||
Unrecorded Unconditional Purchase Obligation, Due within Four Years | 0 | ||
Unrecorded Unconditional Purchase Obligation, Due within Five Years | 0 | ||
Unrecorded Unconditional Purchase Obligation, Due after Five Years | 0 | ||
Unrecorded Unconditional Purchase Obligation, Total | 62.2 | ||
Natural Gas Procurement Contracts [Member] | |||
Long-term Purchase Commitment [Line Items] | |||
Unrecorded Unconditional Purchase Obligation, Due within One Year | 133.7 | ||
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 116.3 | ||
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 45.6 | ||
Unrecorded Unconditional Purchase Obligation, Due within Four Years | 31.9 | ||
Unrecorded Unconditional Purchase Obligation, Due within Five Years | 25.8 | ||
Unrecorded Unconditional Purchase Obligation, Due after Five Years | 85.1 | ||
Unrecorded Unconditional Purchase Obligation, Total | 438.4 | ||
Wood, Coal And Transporation Contracts [Member] | |||
Long-term Purchase Commitment [Line Items] | |||
Unrecorded Unconditional Purchase Obligation, Due within One Year | 99 | ||
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 25.2 | ||
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 5 | ||
Unrecorded Unconditional Purchase Obligation, Due within Four Years | 5 | ||
Unrecorded Unconditional Purchase Obligation, Due within Five Years | 1.9 | ||
Unrecorded Unconditional Purchase Obligation, Due after Five Years | 15 | ||
Unrecorded Unconditional Purchase Obligation, Total | 151.1 | ||
Transmission Support Commitments [Member] | |||
Long-term Purchase Commitment [Line Items] | |||
Recorded Unconditional Purchase Obligation Due within One Year | 25.9 | ||
Recorded Unconditional Purchase Obligation Due in Second Year | 21.6 | ||
Recorded Unconditional Purchase Obligation Due in Third Year | 19 | ||
Recorded Unconditional Purchase Obligation Due in Fourth Year | 21.2 | ||
Recorded Unconditional Purchase Obligation Due in Fifth Year | 21.3 | ||
Recorded Unconditional Purchase Obligation Due after Fifth Year | 21.3 | ||
Recorded Unconditional Purchase Obligation, Total | 130.3 | ||
The Connecticut Light And Power Company [Member] | |||
Long-term Purchase Commitment [Line Items] | |||
Unrecorded Unconditional Purchase Obligation, Due within One Year | 233.4 | ||
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 241.8 | ||
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 169.1 | ||
Unrecorded Unconditional Purchase Obligation, Due within Four Years | 123.4 | ||
Unrecorded Unconditional Purchase Obligation, Due within Five Years | 106.4 | ||
Unrecorded Unconditional Purchase Obligation, Due after Five Years | 779.7 | ||
Unrecorded Unconditional Purchase Obligation, Total | 1,653.80 | ||
Supply And Stranded Costs Obligations Incurred | 63 | 77.6 | 158.2 |
Transmission Support Commitment Costs Incurred | 9.9 | 9.8 | 9.6 |
Peaker CfD Expense Incurred | 18.1 | 51.9 | 59.3 |
Renewable Energy Costs Incurred | 0.7 | ||
The Connecticut Light And Power Company [Member] | Supply And Stranded Cost Obligations [Member] | |||
Long-term Purchase Commitment [Line Items] | |||
Unrecorded Unconditional Purchase Obligation, Due within One Year | 134.3 | ||
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 136.8 | ||
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 79 | ||
Unrecorded Unconditional Purchase Obligation, Due within Four Years | 42 | ||
Unrecorded Unconditional Purchase Obligation, Due within Five Years | 25 | ||
Unrecorded Unconditional Purchase Obligation, Due after Five Years | 43.6 | ||
Unrecorded Unconditional Purchase Obligation, Total | 460.7 | ||
The Connecticut Light And Power Company [Member] | Renewable Energy Contracts [Member] | |||
Long-term Purchase Commitment [Line Items] | |||
Unrecorded Unconditional Purchase Obligation, Due within One Year | 61.2 | ||
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 70.3 | ||
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 71.3 | ||
Unrecorded Unconditional Purchase Obligation, Due within Four Years | 72.1 | ||
Unrecorded Unconditional Purchase Obligation, Due within Five Years | 72.1 | ||
Unrecorded Unconditional Purchase Obligation, Due after Five Years | 715.9 | ||
Unrecorded Unconditional Purchase Obligation, Total | 1,062.90 | ||
The Connecticut Light And Power Company [Member] | Peaker Contracts For Differences [Member] | |||
Long-term Purchase Commitment [Line Items] | |||
Unrecorded Unconditional Purchase Obligation, Due within One Year | 26.3 | ||
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 25.4 | ||
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 10.5 | ||
Unrecorded Unconditional Purchase Obligation, Due within Four Years | 0 | ||
Unrecorded Unconditional Purchase Obligation, Due within Five Years | 0 | ||
Unrecorded Unconditional Purchase Obligation, Due after Five Years | 0 | ||
Unrecorded Unconditional Purchase Obligation, Total | 62.2 | ||
The Connecticut Light And Power Company [Member] | Transmission Support Commitments [Member] | |||
Long-term Purchase Commitment [Line Items] | |||
Recorded Unconditional Purchase Obligation Due within One Year | 10.2 | ||
Recorded Unconditional Purchase Obligation Due in Second Year | 8.5 | ||
Recorded Unconditional Purchase Obligation Due in Third Year | 7.5 | ||
Recorded Unconditional Purchase Obligation Due in Fourth Year | 8.4 | ||
Recorded Unconditional Purchase Obligation Due in Fifth Year | 8.4 | ||
Recorded Unconditional Purchase Obligation Due after Fifth Year | 8.4 | ||
Recorded Unconditional Purchase Obligation, Total | 51.4 | ||
The Connecticut Light And Power Company [Member] | Yankee Companies Billings [Member] | |||
Long-term Purchase Commitment [Line Items] | |||
Recorded Unconditional Purchase Obligation Due within One Year | 1.4 | ||
Recorded Unconditional Purchase Obligation Due in Second Year | 0.8 | ||
Recorded Unconditional Purchase Obligation Due in Third Year | 0.8 | ||
Recorded Unconditional Purchase Obligation Due in Fourth Year | 0.9 | ||
Recorded Unconditional Purchase Obligation Due in Fifth Year | 0.9 | ||
Recorded Unconditional Purchase Obligation Due after Fifth Year | 11.8 | ||
Recorded Unconditional Purchase Obligation, Total | 16.6 | ||
NSTAR Electric Company [Member] | |||
Long-term Purchase Commitment [Line Items] | |||
Unrecorded Unconditional Purchase Obligation, Due within One Year | 128.3 | ||
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 121 | ||
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 107.9 | ||
Unrecorded Unconditional Purchase Obligation, Due within Four Years | 72 | ||
Unrecorded Unconditional Purchase Obligation, Due within Five Years | 70.1 | ||
Unrecorded Unconditional Purchase Obligation, Due after Five Years | 361.8 | ||
Unrecorded Unconditional Purchase Obligation, Total | 861.1 | ||
Supply And Stranded Costs Obligations Incurred | 7 | 32.4 | 36.3 |
Transmission Support Commitment Costs Incurred | 7.7 | 7.7 | 7.6 |
Renewable Energy Costs Incurred | 87.4 | 84.9 | 60.2 |
NSTAR Electric Company [Member] | Supply And Stranded Cost Obligations [Member] | |||
Long-term Purchase Commitment [Line Items] | |||
Unrecorded Unconditional Purchase Obligation, Due within One Year | 34.3 | ||
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 14.1 | ||
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 4.8 | ||
Unrecorded Unconditional Purchase Obligation, Due within Four Years | 5.5 | ||
Unrecorded Unconditional Purchase Obligation, Due within Five Years | 5.5 | ||
Unrecorded Unconditional Purchase Obligation, Due after Five Years | 31.4 | ||
Unrecorded Unconditional Purchase Obligation, Total | 95.6 | ||
NSTAR Electric Company [Member] | Renewable Energy Contracts [Member] | |||
Long-term Purchase Commitment [Line Items] | |||
Unrecorded Unconditional Purchase Obligation, Due within One Year | 85.4 | ||
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 99.9 | ||
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 96.9 | ||
Unrecorded Unconditional Purchase Obligation, Due within Four Years | 59.6 | ||
Unrecorded Unconditional Purchase Obligation, Due within Five Years | 57.7 | ||
Unrecorded Unconditional Purchase Obligation, Due after Five Years | 319.8 | ||
Unrecorded Unconditional Purchase Obligation, Total | 719.3 | ||
NSTAR Electric Company [Member] | Transmission Support Commitments [Member] | |||
Long-term Purchase Commitment [Line Items] | |||
Unrecorded Unconditional Purchase Obligation, Due within One Year | 8.1 | ||
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 6.7 | ||
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 5.9 | ||
Unrecorded Unconditional Purchase Obligation, Due within Four Years | 6.6 | ||
Unrecorded Unconditional Purchase Obligation, Due within Five Years | 6.6 | ||
Unrecorded Unconditional Purchase Obligation, Due after Five Years | 6.6 | ||
Unrecorded Unconditional Purchase Obligation, Total | 40.5 | ||
NSTAR Electric Company [Member] | Yankee Companies Billings [Member] | |||
Long-term Purchase Commitment [Line Items] | |||
Recorded Unconditional Purchase Obligation Due within One Year | 0.5 | ||
Recorded Unconditional Purchase Obligation Due in Second Year | 0.3 | ||
Recorded Unconditional Purchase Obligation Due in Third Year | 0.3 | ||
Recorded Unconditional Purchase Obligation Due in Fourth Year | 0.3 | ||
Recorded Unconditional Purchase Obligation Due in Fifth Year | 0.3 | ||
Recorded Unconditional Purchase Obligation Due after Fifth Year | 4 | ||
Recorded Unconditional Purchase Obligation, Total | 5.7 | ||
Public Service Company Of New Hampshire [Member] | |||
Long-term Purchase Commitment [Line Items] | |||
Unrecorded Unconditional Purchase Obligation, Due within One Year | 190.6 | ||
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 116.3 | ||
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 96.4 | ||
Unrecorded Unconditional Purchase Obligation, Due within Four Years | 97.7 | ||
Unrecorded Unconditional Purchase Obligation, Due within Five Years | 85 | ||
Unrecorded Unconditional Purchase Obligation, Due after Five Years | 964 | ||
Unrecorded Unconditional Purchase Obligation, Total | 1,550 | ||
Supply And Stranded Costs Obligations Incurred | 26 | 29 | 30.5 |
Fuel Costs Incurred | 120.5 | 112.6 | 105.2 |
Transmission Support Commitment Costs Incurred | 5.3 | 5.3 | 5.2 |
Renewable Energy Costs Incurred | 26.3 | 6.4 | 4.1 |
Public Service Company Of New Hampshire [Member] | Supply And Stranded Cost Obligations [Member] | |||
Long-term Purchase Commitment [Line Items] | |||
Unrecorded Unconditional Purchase Obligation, Due within One Year | 28 | ||
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 18.3 | ||
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 18.1 | ||
Unrecorded Unconditional Purchase Obligation, Due within Four Years | 17.8 | ||
Unrecorded Unconditional Purchase Obligation, Due within Five Years | 7.6 | ||
Unrecorded Unconditional Purchase Obligation, Due after Five Years | 7.4 | ||
Unrecorded Unconditional Purchase Obligation, Total | 97.2 | ||
Public Service Company Of New Hampshire [Member] | Renewable Energy Contracts [Member] | |||
Long-term Purchase Commitment [Line Items] | |||
Unrecorded Unconditional Purchase Obligation, Due within One Year | 57.7 | ||
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 67.9 | ||
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 69 | ||
Unrecorded Unconditional Purchase Obligation, Due within Four Years | 70.1 | ||
Unrecorded Unconditional Purchase Obligation, Due within Five Years | 70.7 | ||
Unrecorded Unconditional Purchase Obligation, Due after Five Years | 932.4 | ||
Unrecorded Unconditional Purchase Obligation, Total | 1,267.80 | ||
Public Service Company Of New Hampshire [Member] | Wood, Coal And Transporation Contracts [Member] | |||
Long-term Purchase Commitment [Line Items] | |||
Unrecorded Unconditional Purchase Obligation, Due within One Year | 99 | ||
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 25.2 | ||
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 5 | ||
Unrecorded Unconditional Purchase Obligation, Due within Four Years | 5 | ||
Unrecorded Unconditional Purchase Obligation, Due within Five Years | 1.9 | ||
Unrecorded Unconditional Purchase Obligation, Due after Five Years | 15 | ||
Unrecorded Unconditional Purchase Obligation, Total | 151.1 | ||
Public Service Company Of New Hampshire [Member] | Transmission Support Commitments [Member] | |||
Long-term Purchase Commitment [Line Items] | |||
Recorded Unconditional Purchase Obligation Due within One Year | 5.5 | ||
Recorded Unconditional Purchase Obligation Due in Second Year | 4.6 | ||
Recorded Unconditional Purchase Obligation Due in Third Year | 4 | ||
Recorded Unconditional Purchase Obligation Due in Fourth Year | 4.5 | ||
Recorded Unconditional Purchase Obligation Due in Fifth Year | 4.5 | ||
Recorded Unconditional Purchase Obligation Due after Fifth Year | 4.5 | ||
Recorded Unconditional Purchase Obligation, Total | 27.6 | ||
Public Service Company Of New Hampshire [Member] | Yankee Companies Billings [Member] | |||
Long-term Purchase Commitment [Line Items] | |||
Recorded Unconditional Purchase Obligation Due within One Year | 0.4 | ||
Recorded Unconditional Purchase Obligation Due in Second Year | 0.3 | ||
Recorded Unconditional Purchase Obligation Due in Third Year | 0.3 | ||
Recorded Unconditional Purchase Obligation Due in Fourth Year | 0.3 | ||
Recorded Unconditional Purchase Obligation Due in Fifth Year | 0.3 | ||
Recorded Unconditional Purchase Obligation Due after Fifth Year | 4.7 | ||
Recorded Unconditional Purchase Obligation, Total | 6.3 | ||
Western Massachusetts Electric Company [Member] | |||
Long-term Purchase Commitment [Line Items] | |||
Unrecorded Unconditional Purchase Obligation, Due within One Year | 2.4 | ||
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 4.4 | ||
Unrecorded Unconditional Purchase Obligation, Due within Three Years | 4.2 | ||
Unrecorded Unconditional Purchase Obligation, Due within Four Years | 4.3 | ||
Unrecorded Unconditional Purchase Obligation, Due within Five Years | 4.4 | ||
Unrecorded Unconditional Purchase Obligation, Due after Five Years | 31.3 | ||
Unrecorded Unconditional Purchase Obligation, Total | 51 | ||
Supply And Stranded Costs Obligations Incurred | 3.2 | 2 | 0.9 |
Transmission Support Commitment Costs Incurred | 2.1 | 2.1 | 2 |
Western Massachusetts Electric Company [Member] | Renewable Energy Contracts [Member] | |||
Long-term Purchase Commitment [Line Items] | |||
Unrecorded Unconditional Purchase Obligation, Due within One Year | 0 | ||
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 2.4 | ||
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 | 26.5 | ||
Unrecorded Unconditional Purchase Obligation, Total | 36.1 | ||
Western Massachusetts Electric Company [Member] | Transmission Support Commitments [Member] | |||
Long-term Purchase Commitment [Line Items] | |||
Recorded Unconditional Purchase Obligation Due within One Year | 2.1 | ||
Recorded Unconditional Purchase Obligation Due in Second Year | 1.8 | ||
Recorded Unconditional Purchase Obligation Due in Third Year | 1.6 | ||
Recorded Unconditional Purchase Obligation Due in Fourth Year | 1.7 | ||
Recorded Unconditional Purchase Obligation Due in Fifth Year | 1.8 | ||
Recorded Unconditional Purchase Obligation Due after Fifth Year | 1.8 | ||
Recorded Unconditional Purchase Obligation, Total | 10.8 | ||
Western Massachusetts Electric Company [Member] | Yankee Companies Billings [Member] | |||
Long-term Purchase Commitment [Line Items] | |||
Recorded Unconditional Purchase Obligation Due within One Year | 0.3 | ||
Recorded Unconditional Purchase Obligation Due in Second Year | 0.2 | ||
Recorded Unconditional Purchase Obligation Due in Third Year | 0.2 | ||
Recorded Unconditional Purchase Obligation Due in Fourth Year | 0.2 | ||
Recorded Unconditional Purchase Obligation Due in Fifth Year | 0.2 | ||
Recorded Unconditional Purchase Obligation Due after Fifth Year | 3 | ||
Recorded Unconditional Purchase Obligation, Total | $4.10 |
Contractual_Obligations_with_Y
Contractual Obligations with Yankee Companies (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2012 | Dec. 31, 2013 |
Gain Contingency [Line Items] | |||
Refund Obligation To Customers | As of December 31, 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 | 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. | ||
CYAPC [Member] | DOE Phase I Damages [Member] | |||
Gain Contingency [Line Items] | |||
Awards Received from Litigation | $39.60 | ||
CYAPC [Member] | DOE Phase II Damages [Member] | |||
Gain Contingency [Line Items] | |||
Awards Received from Litigation | 126.3 | ||
YAEC [Member] | DOE Phase I Damages [Member] | |||
Gain Contingency [Line Items] | |||
Awards Received from Litigation | 38.3 | ||
YAEC [Member] | DOE Phase II Damages [Member] | |||
Gain Contingency [Line Items] | |||
Awards Received from Litigation | 73.3 | ||
MYAPC [Member] | DOE Phase I Damages [Member] | |||
Gain Contingency [Line Items] | |||
Awards Received from Litigation | 81.7 | ||
MYAPC [Member] | DOE Phase II Damages [Member] | |||
Gain Contingency [Line Items] | |||
Awards Received from Litigation | 35.8 | ||
CYAPC and YAEC [Member] | DOE Phase I Damages [Member] | |||
Gain Contingency [Line Items] | |||
Increase In Marketable Securities due to CYAPC and YAEC | $77.90 |
Guarantees_and_Indemnification1
Guarantees and Indemnifications (Details) (USD $) | Dec. 31, 2014 |
In Millions, unless otherwise specified | |
Various Subsidiary Surety Bonds And Performance Guarantees Expiring Between 2014 And 2016 [Member] | |
Guarantee Obligations [Line Items] | |
Guarantee Obligations Maximum Exposure | $60 |
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 | $14.40 |
Other_Contingencies_Details
Other Contingencies (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Loss Contingencies Line Items | ||
Loss Contingency, Description | E. FERC Base ROE Complaints E. FERC Base ROE Complaints Beginning in 2011, several New England state attorneys general, state regulatory commissions, consumer advocates, consumer groups, municipal parties and other parties (the "Complainants") jointly filed three separate complaints at FERC. In the first complaint, filed in 2011, the Complainants alleged that the NETOs' base ROE of 11.14 percent that was utilized since 2006 was unjust and unreasonable, asserted that the rate was excessive due to changes in the capital markets, and sought an order to reduce it prospectively from the date of the final FERC order and for the 15-month period beginning October 1, 2011 to December 31, 2012 (the "first complaint refund period"). In the pursuant second and third complaints, filed in 2012 and 2014, respectively, the Complainants challenged the NETOs' base ROE and sought refunds for the 15-month periods beginning December 27, 2012 and July 31, 2014, respectively. In 2014, the FERC determined that the base ROE should be set at 10.57 percent for the first complaint refund period and that a utility’s total or maximum ROE should not exceed the top of the new zone of reasonableness (7.03 percent to 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 of 10.57 percent prospectively from October 16, 2014. In late 2014, the NETOs made a compliance filing, and began refunding amounts from the first complaint period, inclusive of incentive ROE adders that exceeded the 11.74 percent as compared to the total company transmission ROE. Complainants have challenged the compliance filing. As a result of the actions taken by the FERC and other developments in this matter, NU recorded reserves in 2013 and 2014 to recognize the potential financial impacts of the first and second complaints. The Company is unable to determine any amount related to the third complaint. The following is a summary of the cumulative pre-tax reserves (excluding interest) established by the Company in 2013 and 2014: As of December 31, 2014, the cumulative reserves above do not reflect refunds totaling $4.8 million at NU, $2.7 million at CL&P, $1 million at NSTAR Electric, $0.5 million at PSNH and $0.6 million at WMECO for the first complaint refund period. The aggregate after-tax net charge to 2014 earnings resulting from the 2014 FERC orders totaled $22.4 million at NU, $12.4 million at CL&P, $4.9 million at NSTAR Electric, $1.7 million at PSNH and $3.4 million at WMECO. In 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. Although management is uncertain on the final outcome on the second and third complaints regarding the base ROE and the incentive ROE adder, management believes the current reserves established are appropriate to reflect probable and reasonably estimable refunds. F. 2014 Comprehensive Settlement Agreement On December 31, 2014, NSTAR Electric, NSTAR Gas and the Massachusetts Attorney General filed a comprehensive settlement agreement with the DPU. The comprehensive settlement agreement included resolution of the outstanding NSTAR Electric CPSL program filings for the periods 2006 through 2011, the NSTAR Electric and NSTAR Gas PAM and energy efficiency-related customer billing adjustments reported in 2012, and the NSTAR Electric energy efficiency program filings regarding LBR for the periods 2008 through 2011. If approved by the DPU, NSTAR Electric and NSTAR Gas will be required to refund a total of $44.7 million to their respective customers, which was included in regulatory liabilities as of December 31, 2014. Upon the DPU's approval, NSTAR Electric will adjust its regulatory liabilities, which it expects will result in a benefit of $23 million in the first quarter of 2015. Management expects a response from the DPU in the first quarter of 2015. G. Basic Service Bad Debt Adder In accordance with a generic 2005 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. NSTAR Electric's position was that it had fully removed the collection of energy-related bad debt costs from its distribution rates effective January 1, 2006. Therefore, no further adjustment to distribution rates was warranted. In 2012, the SJC vacated the DPU order and remanded the matter to the DPU for further review. As of December 31, 2014, NSTAR Electric has a total deferred regulatory asset of approximately $33 million of costs associated with energy-related bad debt. On January 7, 2015, the DPU issued an order on remand stating that NSTAR Electric had, in fact, removed energy-related bad debt costs from distribution rates effective January 1, 2006. The DPU order approved NSTAR Electric's 2005 and 2006 reconciliation filings and ordered NSTAR Electric and the Massachusetts Attorney General to collaborate on the submission of a proposal for the reconciliation of energy-related bad debt costs for the open years of 2007 through 2014 by April 7, 2015. Management expects to present a proposal to the Attorney General in the first quarter of 2015 with a decision from the DPU later in 2015. H. Litigation and Legal Proceedings NU, including CL&P, NSTAR Electric, PSNH and WMECO, are involved in legal, tax and regulatory proceedings regarding matters arising in the ordinary course of business, which involve management's assessment to determine the probability of whether a loss will occur and, if probable, its best estimate of probable loss. The Company records and discloses losses when these losses are probable and reasonably estimable, and discloses matters when losses are probable but not estimable or when losses are reasonably possible. Legal costs related to the defense of loss contingencies are expensed as incurred. | |
FERC ROE Reserve - First Complaint - Base ROE [Member] | ||
Loss Contingencies Line Items | ||
Loss Contingency Estimate Of Possible Loss | $24.90 | $23.70 |
Loss Contingency Loss in Period | 1.2 | |
CustomerRefundLiabilityCurrent | 4.8 | |
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 | 12.8 |
Loss Contingency Loss in Period | 0.5 | |
CustomerRefundLiabilityCurrent | 2.7 | |
FERC ROE Reserve - First Complaint - Base ROE [Member] | NSTAR Electric Company [Member] | ||
Loss Contingencies Line Items | ||
Loss Contingency Estimate Of Possible Loss | 6.1 | 5.7 |
Loss Contingency Loss in Period | 0.4 | |
CustomerRefundLiabilityCurrent | 1 | |
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 | 2.3 |
Loss Contingency Loss in Period | 0.1 | |
CustomerRefundLiabilityCurrent | 0.5 | |
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 | 2.9 |
Loss Contingency Loss in Period | 0.2 | |
CustomerRefundLiabilityCurrent | 0.6 | |
FERC ROE Reserve - Second Complaint - Base ROE [Member] | ||
Loss Contingencies Line Items | ||
Loss Contingency Estimate Of Possible Loss | 27.4 | 0 |
Loss Contingency Loss in Period | 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 | 0 |
Loss Contingency Loss in Period | 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 | 0 |
Loss Contingency Loss in Period | 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 | 0 |
Loss Contingency Loss in Period | 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 | 0 |
Loss Contingency Loss in Period | 3.7 | |
FERC ROE Reserve - Incentive - First and Second Complaint [Member] | ||
Loss Contingencies Line Items | ||
Loss Contingency Estimate Of Possible Loss | 8.4 | 0 |
Loss Contingency Loss in Period | 8.4 | |
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 | 6.7 | 0 |
Loss Contingency Loss in Period | 6.7 | |
FERC ROE Reserve - Incentive - First and Second Complaint [Member] | NSTAR Electric Company [Member] | ||
Loss Contingencies Line Items | ||
Loss Contingency Estimate Of Possible Loss | 0 | 0 |
Loss Contingency Loss in Period | 0 | |
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 | 0 |
Loss Contingency Loss in Period | 0 | |
FERC ROE Reserve - Incentive - First and Second Complaint [Member] | Western Massachusetts Electric Company [Member] | ||
Loss Contingencies Line Items | ||
Loss Contingency Estimate Of Possible Loss | 1.7 | 0 |
Loss Contingency Loss in Period | 1.7 | |
FERC ROE Reserve - Cumulative [Member] | ||
Loss Contingencies Line Items | ||
Loss Contingency Estimate Of Possible Loss | 60.7 | 23.7 |
Loss Contingency Loss in Period | 37 | |
FERC ROE Reserve - Cumulative [Member] | The Connecticut Light And Power Company [Member] | ||
Loss Contingencies Line Items | ||
Loss Contingency Estimate Of Possible Loss | 33.5 | 12.8 |
Loss Contingency Loss in Period | 20.7 | |
FERC ROE Reserve - Cumulative [Member] | NSTAR Electric Company [Member] | ||
Loss Contingencies Line Items | ||
Loss Contingency Estimate Of Possible Loss | 13.6 | 5.7 |
Loss Contingency Loss in Period | 7.9 | |
FERC ROE Reserve - Cumulative [Member] | Public Service Company Of New Hampshire [Member] | ||
Loss Contingencies Line Items | ||
Loss Contingency Estimate Of Possible Loss | 5.1 | 2.3 |
Loss Contingency Loss in Period | 2.8 | |
FERC ROE Reserve - Cumulative [Member] | Western Massachusetts Electric Company [Member] | ||
Loss Contingencies Line Items | ||
Loss Contingency Estimate Of Possible Loss | 8.5 | 2.9 |
Loss Contingency Loss in Period | 5.6 | |
FERC ROE Reserve - Cumulative - After Tax Charge [Member] | ||
Loss Contingencies Line Items | ||
Loss Contingency Loss in Period | 22.4 | 14.3 |
FERC ROE Reserve - Cumulative - After Tax Charge [Member] | The Connecticut Light And Power Company [Member] | ||
Loss Contingencies Line Items | ||
Loss Contingency Loss in Period | 12.4 | 7.7 |
FERC ROE Reserve - Cumulative - After Tax Charge [Member] | NSTAR Electric Company [Member] | ||
Loss Contingencies Line Items | ||
Loss Contingency Loss in Period | 4.9 | 3.4 |
FERC ROE Reserve - Cumulative - After Tax Charge [Member] | Public Service Company Of New Hampshire [Member] | ||
Loss Contingencies Line Items | ||
Loss Contingency Loss in Period | 1.7 | 1.4 |
FERC ROE Reserve - Cumulative - After Tax Charge [Member] | Western Massachusetts Electric Company [Member] | ||
Loss Contingencies Line Items | ||
Loss Contingency Loss in Period | $3.40 | $1.80 |
LEASES_Details
LEASES (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Operating Leased Assets [Line Items] | ||
Capital Leases, Future Minimum Payments Due, Current | $2.40 | |
Capital Leases, Future Minimum Payments Due in Two Years | 2.2 | |
Capital Leases, Future Minimum Payments Due in Three Years | 2.1 | |
Capital Leases, Future Minimum Payments Due in Four Years | 2.1 | |
Capital Leases, Future Minimum Payments Due in Five Years | 2 | |
Capital Leases, Future Minimum Payments Due Thereafter | 3.5 | |
Capital Leases, Future Minimum Payments Due | 14.3 | |
Capital Leases, Future Minimum Payments, Interest Included in Payments | 4.9 | |
Capital Leases, Future Minimum Payments, Present Value of Net Minimum Payments | 9.4 | |
Operating Leases, Rent Expense | 16.3 | 14.8 |
Operating Leases, Future Minimum Payments Due, Current | 20.1 | |
Operating Leases, Future Minimum Payments, Due in Two Years | 17.6 | |
Operating Leases, Future Minimum Payments, Due in Three Years | 14.6 | |
Operating Leases, Future Minimum Payments, Due in Four Years | 10.5 | |
Operating Leases, Future Minimum Payments, Due in Five Years | 8.6 | |
Operating Leases, Future Minimum Payments, Due Thereafter | 22.5 | |
Operating Leases, Future Minimum Payments Due | 93.9 | |
The Connecticut Light And Power Company [Member] | ||
Operating Leased Assets [Line Items] | ||
Capital Leases, Future Minimum Payments Due, Current | 2 | |
Capital Leases, Future Minimum Payments Due in Two Years | 1.9 | |
Capital Leases, Future Minimum Payments Due in Three Years | 2 | |
Capital Leases, Future Minimum Payments Due in Four Years | 2 | |
Capital Leases, Future Minimum Payments Due in Five Years | 2 | |
Capital Leases, Future Minimum Payments Due Thereafter | 3.5 | |
Capital Leases, Future Minimum Payments Due | 13.4 | |
Capital Leases, Future Minimum Payments, Interest Included in Payments | 5 | |
Capital Leases, Future Minimum Payments, Present Value of Net Minimum Payments | 8.4 | |
Operating Leases, Rent Expense | 8.1 | 8.2 |
Operating Leases, Future Minimum Payments Due, Current | 4.3 | |
Operating Leases, Future Minimum Payments, Due in Two Years | 3.8 | |
Operating Leases, Future Minimum Payments, Due in Three Years | 2.6 | |
Operating Leases, Future Minimum Payments, Due in Four Years | 1.5 | |
Operating Leases, Future Minimum Payments, Due in Five Years | 1.1 | |
Operating Leases, Future Minimum Payments, Due Thereafter | 4 | |
Operating Leases, Future Minimum Payments Due | 17.3 | |
NSTAR Electric Company [Member] | ||
Operating Leased Assets [Line Items] | ||
Operating Leases, Rent Expense | 6.7 | 6.2 |
Operating Leases, Future Minimum Payments Due, Current | 10 | |
Operating Leases, Future Minimum Payments, Due in Two Years | 8.8 | |
Operating Leases, Future Minimum Payments, Due in Three Years | 7.7 | |
Operating Leases, Future Minimum Payments, Due in Four Years | 5.8 | |
Operating Leases, Future Minimum Payments, Due in Five Years | 4.7 | |
Operating Leases, Future Minimum Payments, Due Thereafter | 10.4 | |
Operating Leases, Future Minimum Payments Due | 47.4 | |
Public Service Company Of New Hampshire [Member] | ||
Operating Leased Assets [Line Items] | ||
Capital Leases, Future Minimum Payments Due, Current | 0.4 | |
Capital Leases, Future Minimum Payments Due in Two Years | 0.3 | |
Capital Leases, Future Minimum Payments Due in Three Years | 0.1 | |
Capital Leases, Future Minimum Payments Due in Four Years | 0.1 | |
Capital Leases, Future Minimum Payments Due in Five Years | 0 | |
Capital Leases, Future Minimum Payments Due Thereafter | 0 | |
Capital Leases, Future Minimum Payments Due | 0.9 | |
Capital Leases, Future Minimum Payments, Interest Included in Payments | 0 | |
Capital Leases, Future Minimum Payments, Present Value of Net Minimum Payments | 0.9 | |
Operating Leases, Rent Expense | 1.7 | 2.5 |
Operating Leases, Future Minimum Payments Due, Current | 1.1 | |
Operating Leases, Future Minimum Payments, Due in Two Years | 1 | |
Operating Leases, Future Minimum Payments, Due in Three Years | 0.8 | |
Operating Leases, Future Minimum Payments, Due in Four Years | 0.6 | |
Operating Leases, Future Minimum Payments, Due in Five Years | 0.5 | |
Operating Leases, Future Minimum Payments, Due Thereafter | 1.5 | |
Operating Leases, Future Minimum Payments Due | 5.5 | |
Western Massachusetts Electric Company [Member] | ||
Operating Leased Assets [Line Items] | ||
Operating Leases, Rent Expense | 2.9 | 3 |
Operating Leases, Future Minimum Payments Due, Current | 1.2 | |
Operating Leases, Future Minimum Payments, Due in Two Years | 1 | |
Operating Leases, Future Minimum Payments, Due in Three Years | 0.8 | |
Operating Leases, Future Minimum Payments, Due in Four Years | 0.6 | |
Operating Leases, Future Minimum Payments, Due in Five Years | 0.6 | |
Operating Leases, Future Minimum Payments, Due Thereafter | 2.5 | |
Operating Leases, Future Minimum Payments Due | $6.70 |
FAIR_VALUE_OF_FINANCIAL_INSTRU2
FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) (USD $) | Dec. 31, 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 | 8,851,600,000 | 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 | 153,600,000 | 152,700,000 |
Other Long Term Debt | 9,451,200,000 | 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 | 2,842,000,000 | 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 | 112,000,000 | 110,500,000 |
Other Long Term Debt | 3,214,500,000 | 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 | 41,600,000 | 42,200,000 |
Other Long Term Debt | 1,993,500,000 | 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 | 1,076,300,000 | 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 | 1,137,900,000 | 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 | 628,500,000 | 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 | $689,400,000 | $640,100,000 |
ACCUMULATED_OTHER_COMPREHENSIV2
ACCUMULATED OTHER COMPREHENSIVE INCOME (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Accumulated Other Comprehensive Income Loss Net Of Tax RollForward [Abstract] | |||||||||||
AOCI Beginning Balance | ($46,031,000) | ($72,900,000) | ($46,031,000) | ($72,900,000) | |||||||
Other Comprehensive Income Before Reclassifications, Net of Tax | -33,900,000 | 18,500,000 | |||||||||
Reclassification From OCI, Net Of Tax | 5,900,000 | 8,400,000 | |||||||||
Other Comprehensive Income (Loss), Net of Tax, Total | -27,978,000 | 26,823,000 | -2,168,000 | ||||||||
AOCI Ending Balance | -74,009,000 | -46,031,000 | -74,009,000 | -46,031,000 | -72,900,000 | ||||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Abstract] | |||||||||||
Total Interest Expense | -362,106,000 | -338,699,000 | -329,945,000 | ||||||||
Income Tax Expense | -468,297,000 | -426,941,000 | -274,926,000 | ||||||||
Net Income Attributable to Controlling Interests | 221,500,000 | 234,600,000 | 127,400,000 | 236,000,000 | 177,400,000 | 209,500,000 | 171,000,000 | 228,100,000 | 819,546,000 | 786,007,000 | 525,945,000 |
OCI Benefit Plans Before Reclassification Adjustments, Tax [Abstract] | |||||||||||
OCI Benefit Plans Before Reclassification Adjustments TAX Effect | 18,700,000 | 11,400,000 | 6,200,000 | ||||||||
Future AOCI Reclassification Amounts [Abstract] | |||||||||||
Cash Flow Hedge Loss To Be Reclassified Within Twelve Months | 3,500,000 | ||||||||||
Pension SERP And PBOP Gain Loss To Be Reclassified Within Twelve Months | 6,900,000 | ||||||||||
The Connecticut Light And Power Company [Member] | |||||||||||
Accumulated Other Comprehensive Income Loss Net Of Tax RollForward [Abstract] | |||||||||||
AOCI Beginning Balance | -1,387,000 | -1,387,000 | |||||||||
Other Comprehensive Income (Loss), Net of Tax, Total | 456,000 | 413,000 | 451,000 | ||||||||
AOCI Ending Balance | -931,000 | -1,387,000 | -931,000 | -1,387,000 | |||||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Abstract] | |||||||||||
Total Interest Expense | -147,421,000 | -133,650,000 | -133,127,000 | ||||||||
Income Tax Expense | -133,451,000 | -141,663,000 | -94,437,000 | ||||||||
Future AOCI Reclassification Amounts [Abstract] | |||||||||||
Cash Flow Hedge Loss To Be Reclassified Within Twelve Months | 700,000 | ||||||||||
Public Service Company Of New Hampshire [Member] | |||||||||||
Accumulated Other Comprehensive Income Loss Net Of Tax RollForward [Abstract] | |||||||||||
AOCI Beginning Balance | -8,550,000 | -8,550,000 | |||||||||
Other Comprehensive Income (Loss), Net of Tax, Total | 1,181,000 | 1,105,000 | 1,177,000 | ||||||||
AOCI Ending Balance | -7,369,000 | -8,550,000 | -7,369,000 | -8,550,000 | |||||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Abstract] | |||||||||||
Total Interest Expense | -45,349,000 | -46,176,000 | -50,228,000 | ||||||||
Income Tax Expense | -72,135,000 | -71,101,000 | -60,993,000 | ||||||||
Future AOCI Reclassification Amounts [Abstract] | |||||||||||
Cash Flow Hedge Loss To Be Reclassified Within Twelve Months | 2,000,000 | ||||||||||
Western Massachusetts Electric Company [Member] | |||||||||||
Accumulated Other Comprehensive Income Loss Net Of Tax RollForward [Abstract] | |||||||||||
AOCI Beginning Balance | -3,517,000 | -3,517,000 | |||||||||
Other Comprehensive Income (Loss), Net of Tax, Total | 341,000 | 329,000 | 340,000 | ||||||||
AOCI Ending Balance | -3,176,000 | -3,517,000 | -3,176,000 | -3,517,000 | |||||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Abstract] | |||||||||||
Total Interest Expense | -24,931,000 | -24,851,000 | -26,634,000 | ||||||||
Income Tax Expense | -37,268,000 | -37,368,000 | -32,140,000 | ||||||||
Future AOCI Reclassification Amounts [Abstract] | |||||||||||
Cash Flow Hedge Loss To Be Reclassified Within Twelve Months | 600,000 | ||||||||||
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 | -14,400,000 | -16,400,000 | |||||||
Other Comprehensive Income Before Reclassifications, Net of Tax | 0 | ||||||||||
Reclassification From OCI, Net Of Tax | 2,000,000 | 2,000,000 | |||||||||
Other Comprehensive Income (Loss), Net of Tax, Total | 2,000,000 | 2,000,000 | |||||||||
AOCI Ending Balance | -12,400,000 | -14,400,000 | -12,400,000 | -14,400,000 | |||||||
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 | 400,000 | 1,300,000 | |||||||
Other Comprehensive Income Before Reclassifications, Net of Tax | 300,000 | -900,000 | |||||||||
Other Comprehensive Income (Loss), Net of Tax, Total | 300,000 | -900,000 | |||||||||
AOCI Ending Balance | 700,000 | 400,000 | 700,000 | 400,000 | |||||||
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 | -32,000,000 | -57,800,000 | |||||||
Other Comprehensive Income Before Reclassifications, Net of Tax | -34,200,000 | 19,400,000 | |||||||||
Reclassification From OCI, Net Of Tax | 3,900,000 | 6,400,000 | |||||||||
Other Comprehensive Income (Loss), Net of Tax, Total | -30,300,000 | 25,800,000 | |||||||||
AOCI Ending Balance | -62,300,000 | -32,000,000 | -62,300,000 | -32,000,000 | |||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||||||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Abstract] | |||||||||||
Net Income Attributable to Controlling Interests | -5,900,000 | -8,400,000 | -7,800,000 | ||||||||
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 | -3,400,000 | -3,400,000 | -3,300,000 | ||||||||
Income Tax Expense | 1,400,000 | 1,400,000 | 1,300,000 | ||||||||
Net Income Attributable to Controlling Interests | -2,000,000 | -2,000,000 | -2,000,000 | ||||||||
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 | -6,200,000 | -10,500,000 | -8,900,000 | ||||||||
OCI Reclassification for Transition Obligation | -200,000 | ||||||||||
OCI Reclassification Adjustment for Amortization of Prior Service Cost, before tax | -200,000 | -200,000 | -200,000 | ||||||||
OCI Reclassification Adjustment for Pension, SERP and PBOP Plans, before Tax | -6,400,000 | -10,700,000 | -9,300,000 | ||||||||
Income Tax Expense | 2,500,000 | 4,300,000 | 3,500,000 | ||||||||
Net Income Attributable to Controlling Interests | ($3,900,000) | ($6,400,000) | ($5,800,000) |
DIVIDEND_RESTRICTIONS_Details
DIVIDEND RESTRICTIONS (Details) | 12 Months Ended |
Dec. 31, 2014 | |
Line of Credit Facility, Dividend Restrictions | CL&P, NSTAR Electric, PSNH and WMECO are subject to Section 305 of the Federal Power Act that makes it unlawful for a public utility to make or pay a dividend from any funds "properly included in its capital account." Management believes that this Federal Power Act restriction, as applied to CL&P, NSTAR Electric, PSNH and WMECO, would not be construed or applied by the FERC to prohibit the payment of dividends for lawful and legitimate business purposes from retained earnings. In addition, certain state statutes may impose additional limitations on such companies and on Yankee Gas and NSTAR Gas. Such state law restrictions do not restrict payment of dividends from retained earnings or net income. Pursuant to the joint revolving credit agreement of NU, CL&P, PSNH, WMECO, Yankee Gas and NSTAR Gas, and the NSTAR Electric revolving credit agreement, each company is required to maintain consolidated total debt to total capitalization ratio of no greater than 65 percent at all times. As of December 31, 2014, all companies were in compliance with such covenant. The Retained Earnings balances subject to these restrictions were $2.4 billion for NU, $1.1 billion for CL&P, $1.5 billion for NSTAR Electric, $486.5 million for PSNH and $178.8 million for WMECO as of December 31, 2014. As of December 31, 2014, NU, CL&P, NSTAR Electric, PSNH, WMECO, Yankee Gas and NSTAR Gas were in compliance with all such provisions of the revolving credit agreements that may restrict the payment of dividends. |
Public Service Company Of New Hampshire [Member] | |
Statutory Dividend Payment Restrictions Disclosure | PSNH is further required to reserve an additional amount under its FERC hydroelectric license conditions. As of December 31, 2014, $13 million of PSNH's Retained Earnings was subject to restriction under its FERC hydroelectric license conditions and PSNH was in compliance with this provision. |
COMMON_SHARES_Details
COMMON SHARES (Details) (USD $) | Dec. 31, 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 | 333,359,172 | 333,113,492 |
Treasury Stock Shares | 16,375,835 | 17,796,672 |
Common Stock, Shares, Outstanding | 316,983,337 | 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 |
PREFFERED_STOCK_NOT_SUBJECT_TO1
PREFFERED STOCK NOT SUBJECT TO MANDATORY REDEMPTION (DETAILS) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Class Of Stock [Line Items] | |||
Preferred Stock, Value, Outstanding | $155,600,000 | $155,600,000 | |
Cash Dividends on Preferred Stock | 7,519,000 | 7,682,000 | 7,029,000 |
The Connecticut Light And Power Company [Member] | |||
Class Of Stock [Line Items] | |||
Preferred Stock, Shares Outstanding | 2,324,000 | ||
Preferred Stock, Value, Outstanding | 116,200,000 | 116,200,000 | |
Cash Dividends on Preferred Stock | 5,559,000 | 5,559,000 | 5,559,000 |
Preferred Stock Authorized Description | The CL&P and NSTAR Electric preferred stock is not subject to mandatory redemption and is presented as a noncontrolling interest of a subsidiary in NU’s financial statements. CL&P Preferred Stock: CL&P's charter authorizes it to issue up to 9 million shares of preferred stock ($50 par value per share). | ||
NSTAR Electric Company [Member] | |||
Class Of Stock [Line Items] | |||
Preferred Stock, Shares Outstanding | 430,000 | ||
Preferred Stock, Value, Outstanding | 43,000,000 | 43,000,000 | |
Cash Dividends on Preferred Stock | 1,961,000 | 2,123,000 | 1,960,000 |
Preferred Stock Authorized Description | NSTAR Electric is authorized to issue 2,890,000 shares ($100 par value per share). | ||
Series 1947 $1.90 [Member] | The Connecticut Light And Power Company [Member] | |||
Class Of Stock [Line Items] | |||
Preferred Stock, Shares Outstanding | 163,912 | ||
Preferred Stock, Redemption Price Per Share | $52.50 | ||
Preferred Stock, Value, Outstanding | 8,200,000 | 8,200,000 | |
Series 1947 $2.00 [Member] | The Connecticut Light And Power Company [Member] | |||
Class Of Stock [Line Items] | |||
Preferred Stock, Shares Outstanding | 336,088 | ||
Preferred Stock, Redemption Price Per Share | $54 | ||
Preferred Stock, Value, Outstanding | 16,800,000 | 16,800,000 | |
Series 1949 $2.04 [Member] | The Connecticut Light And Power Company [Member] | |||
Class Of Stock [Line Items] | |||
Preferred Stock, Shares Outstanding | 100,000 | ||
Preferred Stock, Redemption Price Per Share | $52 | ||
Preferred Stock, Value, Outstanding | 5,000,000 | 5,000,000 | |
Series 1949 $2.20 [Member] | The Connecticut Light And Power Company [Member] | |||
Class Of Stock [Line Items] | |||
Preferred Stock, Shares Outstanding | 200,000 | ||
Preferred Stock, Redemption Price Per Share | $52.50 | ||
Preferred Stock, Value, Outstanding | 10,000,000 | 10,000,000 | |
Series 1949 3.90% [Member] | The Connecticut Light And Power Company [Member] | |||
Class Of Stock [Line Items] | |||
Preferred Stock, Shares Outstanding | 160,000 | ||
Preferred Stock, Redemption Price Per Share | $50.50 | ||
Preferred Stock, Value, Outstanding | 8,000,000 | 8,000,000 | |
Series E 1954 $2.06 [Member] | The Connecticut Light And Power Company [Member] | |||
Class Of Stock [Line Items] | |||
Preferred Stock, Shares Outstanding | 200,000 | ||
Preferred Stock, Redemption Price Per Share | $51 | ||
Preferred Stock, Value, Outstanding | 10,000,000 | 10,000,000 | |
Series F 1955 $2.09 [Member] | The Connecticut Light And Power Company [Member] | |||
Class Of Stock [Line Items] | |||
Preferred Stock, Shares Outstanding | 100,000 | ||
Preferred Stock, Redemption Price Per Share | $51 | ||
Preferred Stock, Value, Outstanding | 5,000,000 | 5,000,000 | |
Series 1956 4.5% [Member] | The Connecticut Light And Power Company [Member] | |||
Class Of Stock [Line Items] | |||
Preferred Stock, Shares Outstanding | 104,000 | ||
Preferred Stock, Redemption Price Per Share | $50.75 | ||
Preferred Stock, Value, Outstanding | 5,200,000 | 5,200,000 | |
Series 1958 4.96% [Member] | The Connecticut Light And Power Company [Member] | |||
Class Of Stock [Line Items] | |||
Preferred Stock, Shares Outstanding | 100,000 | ||
Preferred Stock, Redemption Price Per Share | $50.50 | ||
Preferred Stock, Value, Outstanding | 5,000,000 | 5,000,000 | |
Series 1963 4.5% [Member] | The Connecticut Light And Power Company [Member] | |||
Class Of Stock [Line Items] | |||
Preferred Stock, Shares Outstanding | 160,000 | ||
Preferred Stock, Redemption Price Per Share | $50.50 | ||
Preferred Stock, Value, Outstanding | 8,000,000 | 8,000,000 | |
Series 1967 5.28% [Member] | The Connecticut Light And Power Company [Member] | |||
Class Of Stock [Line Items] | |||
Preferred Stock, Shares Outstanding | 200,000 | ||
Preferred Stock, Redemption Price Per Share | $51.43 | ||
Preferred Stock, Value, Outstanding | 10,000,000 | 10,000,000 | |
Series G of 1968 $3.24 [Member] | The Connecticut Light And Power Company [Member] | |||
Class Of Stock [Line Items] | |||
Preferred Stock, Shares Outstanding | 300,000 | ||
Preferred Stock, Redemption Price Per Share | $51.84 | ||
Preferred Stock, Value, Outstanding | 15,000,000 | 15,000,000 | |
Series 1968 6.56% [Member] | The Connecticut Light And Power Company [Member] | |||
Class Of Stock [Line Items] | |||
Preferred Stock, Shares Outstanding | 200,000 | ||
Preferred Stock, Redemption Price Per Share | $51.44 | ||
Preferred Stock, Value, Outstanding | 10,000,000 | 10,000,000 | |
Preferred Stock 4.25% [Member] | NSTAR Electric Company [Member] | |||
Class Of Stock [Line Items] | |||
Preferred Stock, Shares Outstanding | 180,000 | ||
Preferred Stock, Redemption Price Per Share | $103.63 | ||
Preferred Stock, Value, Outstanding | 18,000,000 | 18,000,000 | |
Preferred Stock 4.78% [Member] | NSTAR Electric Company [Member] | |||
Class Of Stock [Line Items] | |||
Preferred Stock, Shares Outstanding | 250,000 | ||
Preferred Stock, Redemption Price Per Share | $102.80 | ||
Preferred Stock, Value, Outstanding | $25,000,000 | $25,000,000 |
COMMON_SHAREHOLDER_EQUIT_AND_N
COMMON SHAREHOLDER EQUIT AND NCI (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Shareholders' Equity, Beginning Balance | $9,611,528,000 | $9,611,528,000 | |||||||||
Net Income | 223,600,000 | 236,500,000 | 129,200,000 | 237,800,000 | 179,200,000 | 211,400,000 | 173,100,000 | 230,000,000 | 827,065,000 | 793,689,000 | 533,077,000 |
Net Income Attributable to Noncontrolling Interests | 7,519,000 | 7,682,000 | 7,132,000 | ||||||||
Other Comprehensive Income (Loss), Net of Tax | -27,978,000 | 26,823,000 | -2,168,000 | ||||||||
Shareholders' Equity, Ending Balance | 9,976,815,000 | 9,611,528,000 | 9,976,815,000 | 9,611,528,000 | |||||||
Common Shareholders Equity [Member] | |||||||||||
Shareholders' Equity, Beginning Balance | 4,012,700,000 | ||||||||||
Net Income | 827,065,000 | 793,689,000 | 3,359,000 | ||||||||
Dividends on Common Shares | -496,524,000 | 11,078,000 | -375,527,000 | ||||||||
Dividends on Preferred Stock | -7,519,000 | -10,748,000 | -7,029,000 | ||||||||
Issuance of Common Shares | 6,609,000 | 29,468,000 | 13,327,000 | ||||||||
Other Transcations, Net | 63,600,000 | 13,200,000 | 21,100,000 | ||||||||
Net Income Attributable to Noncontrolling Interests | -103,000 | ||||||||||
Other Comprehensive Income (Loss), Net of Tax | -27,978,000 | -2,168,000 | |||||||||
Purchase Price of NSTAR | 5,038,300,000 | ||||||||||
Other Impacts of Merger with NSTAR | 3,400,000 | ||||||||||
Noncontrolling Interest Member | |||||||||||
Shareholders' Equity, Beginning Balance | 0 | 0 | 3,000,000 | ||||||||
Contributions To Northern Pass Trans | 300,000 | ||||||||||
Net Income Attributable to Noncontrolling Interests | 0 | 100,000 | |||||||||
Shareholders' Equity, Ending Balance | 0 | 0 | 0 | ||||||||
Other Impacts of Merger with NSTAR | -3,400,000 | ||||||||||
Total Equity [Member] | |||||||||||
Shareholders' Equity, Beginning Balance | 9,611,500,000 | 9,237,100,000 | 9,611,500,000 | 9,237,100,000 | 4,015,700,000 | ||||||
Net Income | 827,100,000 | 793,700,000 | 533,100,000 | ||||||||
Dividends on Common Shares | -496,500,000 | -462,700,000 | -375,500,000 | ||||||||
Dividends on Preferred Stock | -7,500,000 | -7,700,000 | -7,000,000 | ||||||||
Issuance of Common Shares | 6,600,000 | 11,100,000 | 13,300,000 | ||||||||
Contributions To Northern Pass Trans | 300,000 | ||||||||||
Other Transcations, Net | 63,600,000 | 13,200,000 | 21,100,000 | ||||||||
Net Income Attributable to Noncontrolling Interests | 0 | ||||||||||
Other Comprehensive Income (Loss), Net of Tax | -28,000,000 | 26,800,000 | -2,200,000 | ||||||||
Shareholders' Equity, Ending Balance | 9,976,800,000 | 9,611,500,000 | 9,976,800,000 | 9,611,500,000 | 9,237,100,000 | ||||||
Purchase Price of NSTAR | 5,038,300,000 | ||||||||||
Preferred Stock Member | |||||||||||
Shareholders' Equity, Beginning Balance | 155,600,000 | 155,600,000 | 155,600,000 | 155,600,000 | 116,200,000 | ||||||
Dividends on Preferred Stock | -7,500,000 | -7,700,000 | -7,000,000 | ||||||||
Net Income Attributable to Noncontrolling Interests | 7,500,000 | 7,700,000 | 7,000,000 | ||||||||
Shareholders' Equity, Ending Balance | 155,600,000 | 155,600,000 | 155,600,000 | 155,600,000 | 155,600,000 | ||||||
Other Impacts of Merger with NSTAR | $39,400,000 |
EARNINGS_PER_SHARE_Details
EARNINGS PER SHARE (Details) (USD $) | 0 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Share data, unless otherwise specified | Apr. 09, 2012 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Notes To Consolidated Financial Statements [Abstract] | ||||||||||||
Net Income Attributable to Controlling Interests | $221,500 | $234,600 | $127,400 | $236,000 | $177,400 | $209,500 | $171,000 | $228,100 | $819,546 | $786,007 | $525,945 | |
Basic | 316,136,748 | 315,311,387 | 277,209,819 | |||||||||
Weighted Average Number Diluted Shares Outstanding Adjustment | 1,280,666 | 899,773 | 783,812 | |||||||||
Diluted | 317,417,414 | 316,211,160 | 277,993,631 | |||||||||
Earnings Per Share Basic And Diluted | $0.69 | $0.74 | $0.40 | $0.75 | $0.56 | $0.66 | $0.54 | $0.72 | ||||
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount | 3,643 | 1,575 | 4,266 | |||||||||
Basic Earnings Per Common Share | $2.59 | $2.49 | $1.90 | |||||||||
Diluted Earnings Per Common Share | $2.58 | $2.49 | $1.89 | |||||||||
Common Stock Issuance Merger With Nstar [Abstract] | ||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 136,049,000 |
SEGMENT_INFORMATION_Details
SEGMENT INFORMATION (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | $1,881,200,000 | $1,892,500,000 | $1,677,600,000 | $2,290,600,000 | $1,777,700,000 | $1,892,600,000 | $1,635,900,000 | $1,995,000,000 | $7,741,856,000 | $7,301,204,000 | $6,273,787,000 |
Operating Income | 430,200,000 | 440,900,000 | 294,000,000 | 467,700,000 | 360,600,000 | 399,300,000 | 350,600,000 | 418,900,000 | 1,632,849,000 | 1,529,435,000 | 1,118,206,000 |
Total Interest Expense | -362,106,000 | -338,699,000 | -329,945,000 | ||||||||
Other Income/(Loss), Net | 24,619,000 | 29,894,000 | 19,742,000 | ||||||||
Income Tax Expense | -468,297,000 | -426,941,000 | -274,926,000 | ||||||||
Net Income | 223,600,000 | 236,500,000 | 129,200,000 | 237,800,000 | 179,200,000 | 211,400,000 | 173,100,000 | 230,000,000 | 827,065,000 | 793,689,000 | 533,077,000 |
Net Income Attributable to Noncontrolling Interests | -7,519,000 | -7,682,000 | -7,132,000 | ||||||||
Net Income Attributable to Controlling Interests | 221,500,000 | 234,600,000 | 127,400,000 | 236,000,000 | 177,400,000 | 209,500,000 | 171,000,000 | 228,100,000 | 819,546,000 | 786,007,000 | 525,945,000 |
Total Assets | 29,777,975,000 | 27,795,537,000 | 29,777,975,000 | 27,795,537,000 | |||||||
Investments in Property, Plant and Equipment | 1,603,744,000 | 1,456,787,000 | 1,472,272,000 | ||||||||
Electric Distribution Member | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | 5,663,400,000 | 5,362,300,000 | 4,716,500,000 | ||||||||
Depreciation And Amortization | -384,600,000 | -604,800,000 | -530,300,000 | ||||||||
Operating Expenses, Other | -4,366,200,000 | -3,927,700,000 | -3,585,400,000 | ||||||||
Operating Income | 912,600,000 | 829,800,000 | 600,800,000 | ||||||||
Total Interest Expense | -191,600,000 | -175,000,000 | -165,600,000 | ||||||||
Interest Income | 5,100,000 | 4,100,000 | 2,800,000 | ||||||||
Other Income/(Loss) Excluding Interest Income | 10,700,000 | 12,900,000 | 8,900,000 | ||||||||
Income Tax Expense | -269,700,000 | -240,000,000 | -150,200,000 | ||||||||
Net Income | 467,100,000 | 431,800,000 | 296,700,000 | ||||||||
Net Income Attributable to Noncontrolling Interests | -4,700,000 | -4,800,000 | -4,400,000 | ||||||||
Net Income Attributable to Controlling Interests | 462,400,000 | 427,000,000 | 292,300,000 | ||||||||
Total Assets | 17,563,400,000 | 17,260,000,000 | 17,563,400,000 | 17,260,000,000 | |||||||
Investments in Property, Plant and Equipment | 645,200,000 | 639,000,000 | 611,700,000 | ||||||||
Natural Gas Distribution [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | 1,007,300,000 | 855,800,000 | 572,900,000 | ||||||||
Depreciation And Amortization | -68,100,000 | -66,700,000 | -49,100,000 | ||||||||
Operating Expenses, Other | -786,700,000 | -659,400,000 | -445,200,000 | ||||||||
Operating Income | 152,500,000 | 129,700,000 | 78,600,000 | ||||||||
Total Interest Expense | -34,000,000 | -33,100,000 | -31,300,000 | ||||||||
Interest Income | 0 | 0 | 0 | ||||||||
Other Income/(Loss) Excluding Interest Income | 200,000 | 800,000 | 400,000 | ||||||||
Income Tax Expense | -46,400,000 | -36,500,000 | -16,900,000 | ||||||||
Net Income | 72,300,000 | 60,900,000 | 30,800,000 | ||||||||
Net Income Attributable to Noncontrolling Interests | 0 | 0 | 0 | ||||||||
Net Income Attributable to Controlling Interests | 72,300,000 | 60,900,000 | 30,800,000 | ||||||||
Total Assets | 3,030,900,000 | 2,759,700,000 | 3,030,900,000 | 2,759,700,000 | |||||||
Investments in Property, Plant and Equipment | 176,700,000 | 168,100,000 | 148,700,000 | ||||||||
Transmission [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | 1,018,200,000 | 978,700,000 | 861,500,000 | ||||||||
Depreciation And Amortization | -150,500,000 | -136,200,000 | -109,200,000 | ||||||||
Operating Expenses, Other | -302,100,000 | -281,800,000 | -251,600,000 | ||||||||
Operating Income | 565,600,000 | 560,700,000 | 500,700,000 | ||||||||
Total Interest Expense | -104,100,000 | -100,300,000 | -96,700,000 | ||||||||
Interest Income | 900,000 | 700,000 | 400,000 | ||||||||
Other Income/(Loss) Excluding Interest Income | 10,300,000 | 10,900,000 | 7,300,000 | ||||||||
Income Tax Expense | -174,500,000 | -182,100,000 | -159,200,000 | ||||||||
Net Income | 298,200,000 | 289,900,000 | 252,500,000 | ||||||||
Net Income Attributable to Noncontrolling Interests | -2,800,000 | -2,900,000 | -2,800,000 | ||||||||
Net Income Attributable to Controlling Interests | 295,400,000 | 287,000,000 | 249,700,000 | ||||||||
Total Assets | 7,625,600,000 | 6,745,800,000 | 7,625,600,000 | 6,745,800,000 | |||||||
Investments in Property, Plant and Equipment | 731,600,000 | 618,500,000 | 663,600,000 | ||||||||
Other Segment [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | 790,900,000 | 777,500,000 | 803,800,000 | ||||||||
Depreciation And Amortization | -42,100,000 | -62,200,000 | -56,400,000 | ||||||||
Operating Expenses, Other | -748,000,000 | -715,000,000 | -817,000,000 | ||||||||
Operating Income | 800,000 | 300,000 | -69,600,000 | ||||||||
Total Interest Expense | -36,600,000 | -35,500,000 | -43,600,000 | ||||||||
Interest Income | 3,600,000 | 5,400,000 | 7,100,000 | ||||||||
Other Income/(Loss) Excluding Interest Income | 916,000,000 | 858,900,000 | 795,000,000 | ||||||||
Income Tax Expense | 22,300,000 | 31,900,000 | 55,500,000 | ||||||||
Net Income | 906,100,000 | 861,000,000 | 744,400,000 | ||||||||
Net Income Attributable to Noncontrolling Interests | 0 | 0 | 0 | ||||||||
Net Income Attributable to Controlling Interests | 906,100,000 | 861,000,000 | 744,400,000 | ||||||||
Total Assets | 12,682,500,000 | 11,842,400,000 | 12,682,500,000 | 11,842,400,000 | |||||||
Investments in Property, Plant and Equipment | 50,200,000 | 31,200,000 | 48,300,000 | ||||||||
Eliminations Segment [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | -737,900,000 | -673,100,000 | -680,900,000 | ||||||||
Depreciation And Amortization | 19,900,000 | 10,200,000 | 4,200,000 | ||||||||
Operating Expenses, Other | 719,300,000 | 671,800,000 | 684,400,000 | ||||||||
Operating Income | 1,300,000 | 8,900,000 | 7,700,000 | ||||||||
Total Interest Expense | 4,200,000 | 5,200,000 | 7,300,000 | ||||||||
Interest Income | -3,600,000 | -5,600,000 | -7,100,000 | ||||||||
Other Income/(Loss) Excluding Interest Income | -918,600,000 | -858,200,000 | -795,100,000 | ||||||||
Income Tax Expense | 0 | -200,000 | -4,100,000 | ||||||||
Net Income | -916,700,000 | -849,900,000 | -791,300,000 | ||||||||
Net Income Attributable to Noncontrolling Interests | 0 | 0 | 0 | ||||||||
Net Income Attributable to Controlling Interests | -916,700,000 | -849,900,000 | -791,300,000 | ||||||||
Total Assets | -11,124,400,000 | -10,812,400,000 | -11,124,400,000 | -10,812,400,000 | |||||||
Investments in Property, Plant and Equipment | 0 | 0 | 0 | ||||||||
Total [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Operating Revenues | 7,741,900,000 | 7,301,200,000 | 6,273,800,000 | ||||||||
Depreciation And Amortization | -625,400,000 | -859,700,000 | -740,800,000 | ||||||||
Operating Expenses, Other | -5,483,700,000 | -4,912,100,000 | -4,414,800,000 | ||||||||
Operating Income | 1,632,800,000 | 1,529,400,000 | 1,118,200,000 | ||||||||
Total Interest Expense | -362,100,000 | -338,700,000 | -329,900,000 | ||||||||
Interest Income | 6,000,000 | 4,600,000 | 3,200,000 | ||||||||
Other Income/(Loss) Excluding Interest Income | 18,600,000 | 25,300,000 | 16,500,000 | ||||||||
Income Tax Expense | -468,300,000 | -426,900,000 | -274,900,000 | ||||||||
Net Income | 827,000,000 | 793,700,000 | 533,100,000 | ||||||||
Net Income Attributable to Noncontrolling Interests | -7,500,000 | -7,700,000 | -7,200,000 | ||||||||
Net Income Attributable to Controlling Interests | 819,500,000 | 786,000,000 | 525,900,000 | ||||||||
Total Assets | 29,778,000,000 | 27,795,500,000 | 29,778,000,000 | 27,795,500,000 | |||||||
Investments in Property, Plant and Equipment | $1,603,700,000 | $1,456,800,000 | $1,472,300,000 |
MERGER_OF_NU_AND_NSTAR_Details
MERGER OF NU AND NSTAR (Details) (USD $) | 0 Months Ended | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Apr. 09, 2012 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2013 |
Business Combination Consideration Transferred [Abstract] | ||||
Number of NSTAR Shares Outstanding | 103,696,000 | |||
Exchange Ratio | 1.312 | |||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 136,049,000 | |||
Business Acquisition Share Price | $36.79 | |||
Business Acquisition Cost Of Acquired Entity Equity Interests Issued And Issuable | $5,005 | |||
Business Combination Consideration Transferred Other | 33 | |||
Total Purchase Price, Business Combination Consideration Transferred | 5,038 | |||
Business Acquisition, Number of Shares Awarded Vested Immediately Prior to Merger | 109,000 | |||
Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Less Noncontrolling Interest [Abstract] | ||||
Goodwill Acquired During Period | 3,232 | 3,200 | ||
Business Acquisition, Pro Forma Information [Abstract] | ||||
Business Acquisition, Pro Forma Revenue | 7,004 | |||
Business Acquisition, Pro Forma Net Income | 630 | |||
Business Acquisition, Pro Forma Earnings Per Share, Basic | $2 | |||
Business Acquisition, Pro Forma Earnings Per Share, Diluted | $1.99 | |||
Customer Rate Credits for Business Combination | 46 | |||
Storm Cost Deferral Reduction | 40 | |||
Establishment of Energy Efficiency Fund | 15 | |||
Total Pre-Tax Settlement Agreement Impacts | 101 | |||
Business Combination After Tax Transaction Costs | 32 | |||
After Tax Settlement Costs Incurred | 60 | |||
After-Tax Costs Transaction and Other Non Recurring Costs Excluded from Pro Forma Net Income | 92 | |||
Business Combination, Description | ||||
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | |||
Common Stock, Shares, Outstanding | 316,983,337 | 315,273,559 | ||
Business Acquisition, Description of Settlement Agreements | Regulatory Approvals: On February 15, 2012, NU and NSTAR reached comprehensive merger settlement agreements with the Massachusetts Attorney General and the DOER. The Attorney General settlement agreement covered a variety of rate-making and rate design issues, including a base distribution rate freeze through 2015 for NSTAR Electric, NSTAR Gas and WMECO and $15 million, $3 million and $3 million in the form of rate credits to their respective customers. On April 4, 2012, the DPU approved the settlement agreements and the merger of NU and NSTAR. On March 13, 2012, NU and NSTAR reached a comprehensive merger settlement agreement with both the Connecticut Attorney General and the Connecticut Office of Consumer Counsel. The settlement agreement covered a variety of matters, including a $25 million rate credit to CL&P customers, a CL&P base distribution rate freeze until December 1, 2014, and the establishment of a $15 million fund for energy efficiency and other initiatives to be disbursed at the direction of the DEEP. In the agreement, CL&P agreed to forego rate recovery of $40 million of the deferred storm restoration costs associated with restoration activities following Tropical Storm Irene and the October 2011 snowstorm. On April 2, 2012, the PURA approved the settlement agreement and the merger of NU and NSTAR. | |||
The Connecticut Light And Power Company [Member] | ||||
Business Acquisition, Pro Forma Information [Abstract] | ||||
Customer Rate Credits for Business Combination | 25 | |||
Storm Cost Deferral Reduction | 40 | |||
Total Pre-Tax Settlement Agreement Impacts | 65 | |||
NSTAR Electric Company [Member] | ||||
Business Acquisition, Pro Forma Information [Abstract] | ||||
Customer Rate Credits for Business Combination | 15 | |||
Total Pre-Tax Settlement Agreement Impacts | 15 | |||
Western Massachusetts Electric Company [Member] | ||||
Business Acquisition, Pro Forma Information [Abstract] | ||||
Customer Rate Credits for Business Combination | 3 | |||
Total Pre-Tax Settlement Agreement Impacts | $3 |
GOODWILL_Details
GOODWILL (Details) (USD $) | 0 Months Ended | 12 Months Ended | ||
Apr. 09, 2012 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | |
Goodwill [Line item] | ||||
Goodwill Acquired During Period | $3,232,000,000 | $3,200,000,000 | ||
Goodwill | 3,519,401,000 | 3,519,401,000 | ||
Yankee Gas Services Company [Member] | ||||
Goodwill [Line item] | ||||
Goodwill | 300,000,000 | 300,000,000 | ||
Electric Distribution Member | ||||
Goodwill [Line item] | ||||
Goodwill | 2,500,000,000 | 2,500,000,000 | ||
Transmission [Member] | ||||
Goodwill [Line item] | ||||
Goodwill | 600,000,000 | 600,000,000 | ||
Natural Gas Distribution [Member] | ||||
Goodwill [Line item] | ||||
Goodwill | $400,000,000 | $400,000,000 |
Recovered_Sheet2
QUARTERLY FINANCIAL DATA (UNAUDITED) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Operating Revenues | $1,881,200 | $1,892,500 | $1,677,600 | $2,290,600 | $1,777,700 | $1,892,600 | $1,635,900 | $1,995,000 | $7,741,856 | $7,301,204 | $6,273,787 |
Operating Income | 430,200 | 440,900 | 294,000 | 467,700 | 360,600 | 399,300 | 350,600 | 418,900 | 1,632,849 | 1,529,435 | 1,118,206 |
Net Income | 223,600 | 236,500 | 129,200 | 237,800 | 179,200 | 211,400 | 173,100 | 230,000 | 827,065 | 793,689 | 533,077 |
Net Income Attributable to Controlling Interests | 221,500 | 234,600 | 127,400 | 236,000 | 177,400 | 209,500 | 171,000 | 228,100 | 819,546 | 786,007 | 525,945 |
Basic Earnings Per Common Share | $2.59 | $2.49 | $1.90 | ||||||||
Diluted Earnings Per Common Share | $2.58 | $2.49 | $1.89 | ||||||||
Earnings Per Share Basic And Diluted | $0.69 | $0.74 | $0.40 | $0.75 | $0.56 | $0.66 | $0.54 | $0.72 | |||
The Connecticut Light And Power Company [Member] | |||||||||||
Operating Revenues | 675,100 | 695,600 | 587,300 | 734,600 | 600,500 | 648,400 | 569,300 | 624,100 | 2,692,582 | 2,442,341 | 2,407,449 |
Operating Income | 159,000 | 146,200 | 92,100 | 158,000 | 119,200 | 133,900 | 136,800 | 149,700 | 555,250 | 539,576 | 426,989 |
Net Income | 87,200 | 83,900 | 37,400 | 79,300 | 60,200 | 66,300 | 67,900 | 85,000 | 287,754 | 279,412 | 209,725 |
NSTAR Electric Company [Member] | |||||||||||
Operating Revenues | 581,100 | 727,900 | 561,500 | 666,200 | 576,900 | 753,900 | 570,400 | 592,300 | 2,536,677 | 2,493,479 | 2,300,997 |
Operating Income | 132,000 | 206,600 | 121,500 | 118,400 | 109,200 | 192,000 | 112,500 | 94,500 | 578,456 | 508,156 | 381,416 |
Net Income | 69,300 | 115,600 | 60,100 | 58,100 | 55,400 | 107,000 | 58,000 | 48,100 | 303,088 | 268,546 | 190,242 |
Public Service Company Of New Hampshire [Member] | |||||||||||
Operating Revenues | 224,400 | 223,700 | 211,600 | 299,800 | 226,900 | 218,600 | 216,100 | 273,800 | 959,500 | 935,402 | 988,013 |
Operating Income | 60,000 | 56,400 | 49,000 | 64,000 | 56,200 | 56,600 | 54,300 | 58,100 | 229,383 | 225,219 | 205,095 |
Net Income | 29,000 | 28,200 | 24,100 | 32,600 | 26,800 | 28,400 | 27,200 | 29,000 | 113,944 | 111,397 | 96,882 |
Western Massachusetts Electric Company [Member] | |||||||||||
Operating Revenues | 129,600 | 118,100 | 108,300 | 137,400 | 110,900 | 121,800 | 115,000 | 125,000 | 493,423 | 472,724 | 441,164 |
Operating Income | 34,000 | 31,200 | 17,700 | 34,700 | 22,400 | 28,900 | 32,400 | 35,600 | 117,639 | 119,347 | 110,774 |
Net Income | $18,000 | $14,700 | $7,000 | $18,100 | $10,400 | $15,000 | $16,400 | $18,600 | $57,819 | $60,438 | $54,503 |
SCHEDULE_I_Balance_Sheets_Deta
SCHEDULE I - Balance Sheets (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ||||
Current Assets: | ||||
Cash | $38,703 | $43,364 | $45,748 | $6,559 |
Receivables, Net | 856,346 | 765,391 | ||
Taxes Receivable | 337,307 | 16,629 | ||
Prepayments and Other Current Assets | 226,194 | 197,659 | ||
Total Current Assets | 2,692,465 | 2,087,049 | ||
Deferred Debits and Other Assets: | ||||
Other Long-Term Assets | 349,957 | 365,692 | ||
Total Deferred Debits and Other Assets | 8,438,469 | 8,132,302 | ||
Goodwill | 3,519,401 | 3,519,401 | ||
Total Assets | 29,777,975 | 27,795,537 | ||
Current Liabilities: | ||||
Notes Payable | 956,825 | 1,093,000 | ||
Long-Term Debt - Current Portion | 245,583 | 533,346 | ||
Accounts Payable - Current | 868,231 | 742,251 | ||
Other Liabilities - Current | 828,720 | 702,776 | ||
Total Current Liabilities | 3,134,381 | 3,275,651 | ||
Deferred Credits and Other Liabilities: | ||||
Other Long-Term Liabilities | 874,387 | 923,053 | ||
Total Deferred Credits and Other Liabilities | 7,905,194 | 6,975,957 | ||
Capitalization: | ||||
Long-Term Debt | 8,606,017 | 7,776,833 | ||
Common Shareholders' Equity: | ||||
Common Stock | 1,666,796 | 1,665,351 | ||
Capital Surplus, Paid In | 6,235,834 | 6,192,765 | ||
Retained Earnings | 2,448,661 | 2,125,980 | ||
Accumulated Other Comprehensive Loss | -74,009 | -46,031 | -72,900 | |
Treasury Stock | -300,467 | -326,537 | ||
Common Shareholders' Equity | 9,976,815 | 9,611,528 | ||
Total Capitalization | 18,738,400 | 17,543,929 | ||
Total Liabilities and Capitalization | 29,777,975 | 27,795,537 | ||
Nu Parent [Member] | ||||
Current Assets: | ||||
Cash | 138 | 35 | 429 | 62 |
Notes Receivable from Affiliated Companies | 741,150 | 871,050 | ||
Accounts Receivable from Affiliated Companies | 6,725 | 95,513 | ||
Prepayments and Other Current Assets | 41,366 | 59,905 | ||
Total Current Assets | 789,379 | 1,026,503 | ||
Deferred Debits and Other Assets: | ||||
Equity Method Investments | 8,387,976 | 7,733,051 | ||
Notes Receivable, Related Parties, Noncurrent | 106,300 | 62,500 | ||
Deferred Tax Assets, Net, Noncurrent | 177,908 | 205,779 | ||
Other Long-Term Assets | 33,552 | 22,099 | ||
Total Deferred Debits and Other Assets | 11,937,547 | 11,255,240 | ||
Goodwill | 3,231,811 | 3,231,811 | ||
Total Assets | 12,726,926 | 12,281,743 | ||
Current Liabilities: | ||||
Notes Payable | 654,825 | 1,014,500 | ||
Long-Term Debt - Current Portion | 28,883 | 31,696 | ||
Accounts Payable - Current | 141 | 441 | ||
Accounts Payable to Affiliated Companies | 150,268 | 144,026 | ||
Other Liabilities - Current | 71,778 | 59,559 | ||
Total Current Liabilities | 905,895 | 1,250,222 | ||
Deferred Credits and Other Liabilities: | ||||
Other Long-Term Liabilities | 125,608 | 122,226 | ||
Total Deferred Credits and Other Liabilities | 125,608 | 122,226 | ||
Capitalization: | ||||
Long-Term Debt | 1,718,608 | 1,297,767 | ||
Common Shareholders' Equity: | ||||
Common Stock | 1,666,796 | 1,665,351 | ||
Capital Surplus, Paid In | 6,235,834 | 6,192,765 | ||
Retained Earnings | 2,448,661 | 2,125,980 | ||
Accumulated Other Comprehensive Loss | -74,009 | -46,031 | ||
Treasury Stock | -300,467 | -326,537 | ||
Common Shareholders' Equity | 9,976,815 | 9,611,528 | ||
Total Capitalization | 11,695,423 | 10,909,295 | ||
Total Liabilities and Capitalization | $12,726,926 | $12,281,743 |
SCHEDULE_I_Income_Statements_D
SCHEDULE I - Income Statements (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Condensed Financial Statements, Captions [Line Items] | |||||||||||
Operating Revenues | $1,881,200 | $1,892,500 | $1,677,600 | $2,290,600 | $1,777,700 | $1,892,600 | $1,635,900 | $1,995,000 | $7,741,856 | $7,301,204 | $6,273,787 |
Operating Expenses: | |||||||||||
Operating Income | 430,200 | 440,900 | 294,000 | 467,700 | 360,600 | 399,300 | 350,600 | 418,900 | 1,632,849 | 1,529,435 | 1,118,206 |
Total Interest Expense | 362,106 | 338,699 | 329,945 | ||||||||
Other Income [Abstract] | |||||||||||
Income Before Income Tax Expense | 1,295,362 | 1,220,630 | 808,003 | ||||||||
Income Tax Expense | 468,297 | 426,941 | 274,926 | ||||||||
Net Income | 223,600 | 236,500 | 129,200 | 237,800 | 179,200 | 211,400 | 173,100 | 230,000 | 827,065 | 793,689 | 533,077 |
Net Income Attributable to Noncontrolling Interests | 7,519 | 7,682 | 7,132 | ||||||||
Net Income Attributable to Controlling Interests | 221,500 | 234,600 | 127,400 | 236,000 | 177,400 | 209,500 | 171,000 | 228,100 | 819,546 | 786,007 | 525,945 |
Basic Earnings Per Common Share | $2.59 | $2.49 | $1.90 | ||||||||
Diluted Earnings Per Common Share | $2.58 | $2.49 | $1.89 | ||||||||
Weighted Average Common Shares Outstanding: | |||||||||||
Basic | 316,136,748 | 315,311,387 | 277,209,819 | ||||||||
Diluted | 317,417,414 | 316,211,160 | 277,993,631 | ||||||||
Nu Parent [Member] | |||||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||||
Operating Revenues | 0 | 8 | 2 | ||||||||
Operating Expenses: | |||||||||||
Other Operating Expenses | 29,598 | 12,766 | 80,719 | ||||||||
Operating Income | -29,598 | -12,758 | -80,717 | ||||||||
Total Interest Expense | 33,168 | 31,639 | 36,325 | ||||||||
Other Income [Abstract] | |||||||||||
Equity In Earnings Of Subsidiaries | 848,435 | 785,650 | 579,221 | ||||||||
Other Income/(Loss) Excluding Interest Income | 1,830 | 5,062 | 6,080 | ||||||||
Total Other Income | 850,265 | 790,712 | 585,301 | ||||||||
Income Before Income Tax Expense | 787,499 | 746,315 | 468,259 | ||||||||
Income Tax Expense | -32,047 | -39,692 | -57,789 | ||||||||
Net Income | 819,546 | 786,007 | 526,048 | ||||||||
Net Income Attributable to Noncontrolling Interests | 0 | 0 | 103 | ||||||||
Net Income Attributable to Controlling Interests | $819,546 | $786,007 | $525,945 | ||||||||
Basic Earnings Per Common Share | $2.59 | $2.49 | $1.90 | ||||||||
Diluted Earnings Per Common Share | $2.58 | $2.49 | $1.89 | ||||||||
Weighted Average Common Shares Outstanding: | |||||||||||
Basic | 316,136,748 | 315,311,387 | 277,209,819 | ||||||||
Diluted | 317,417,414 | 316,211,160 | 277,993,631 |
SCHEDULE_I_Cash_Flows_Details
SCHEDULE I - Cash Flows (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Operating Activities: | |||||||||||
Net Income | $223,600 | $236,500 | $129,200 | $237,800 | $179,200 | $211,400 | $173,100 | $230,000 | $827,065 | $793,689 | $533,077 |
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities: | |||||||||||
Deferred Income Tax Expense (Benefit) | 443,259 | 431,413 | 292,000 | ||||||||
Other Noncash Income (Expense) | 39,523 | 56,071 | 42,852 | ||||||||
Changes in Current Assets and Liabilities: | |||||||||||
Receivables and Unbilled Revenues, Net | 122,139 | 163,549 | 20,214 | ||||||||
Accounts Payable | 144,743 | -54,619 | -128,339 | ||||||||
Taxes Receivable/(Accrued) | 323,224 | 50,950 | 5,450 | ||||||||
Other Current Assets and Liabilities | -15,797 | 22,623 | -8,532 | ||||||||
Net Cash Flows Provided by Operating Activities | 1,635,473 | 1,663,539 | 1,161,229 | ||||||||
Investing Activities: | |||||||||||
Other Investing Activities | -14,380 | -67,816 | -35,683 | ||||||||
Net Cash Flows Used in Investing Activities | -1,591,795 | -1,441,223 | -1,467,924 | ||||||||
Financing Activities: | |||||||||||
Cash Dividends on Common Stock | 475,227 | 462,741 | 375,047 | ||||||||
Increase/(Decrease) in Short-Term Debt | 285,075 | -397,000 | 825,000 | ||||||||
Issuance of Long-Term Debt | 725,000 | 1,680,000 | 850,000 | ||||||||
Retirements of Long-Term Debt | 576,551 | 929,885 | 839,136 | ||||||||
Other Financing Activities | 883 | -25,253 | 6,529 | ||||||||
Net Cash Flows Provided by/(Used in) Financing Activities | -48,339 | -224,700 | 345,884 | ||||||||
Supplemental Cash Flow Information [Abstract] | |||||||||||
Interest Paid, Net of Amounts Capitalized | 349,600 | 343,300 | 356,500 | ||||||||
Income Taxes Paid | 334,200 | 50,000 | -12,800 | ||||||||
Net Increase/(Decrease) in Cash | -4,661 | -2,384 | 39,189 | ||||||||
Cash - Beginning of Year | 43,364 | 45,748 | 43,364 | 45,748 | 6,559 | ||||||
Cash - End of Year | 38,703 | 43,364 | 38,703 | 43,364 | 45,748 | ||||||
Nu Parent [Member] | |||||||||||
Operating Activities: | |||||||||||
Net Income | 819,546 | 786,007 | 526,048 | ||||||||
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities: | |||||||||||
Equity In Earnings of Subsidiaries | -848,435 | -785,650 | -579,221 | ||||||||
Cash Dividends Paid to Parent Company by Consolidated Subsidiaries | 609,800 | 407,837 | 374,584 | ||||||||
Deferred Income Tax Expense (Benefit) | 7,956 | 15,159 | -15,350 | ||||||||
Other Noncash Income (Expense) | 9,409 | 29,169 | -3,755 | ||||||||
Changes in Current Assets and Liabilities: | |||||||||||
Receivables and Unbilled Revenues, Net | 88,800 | 14,704 | -18,321 | ||||||||
Accounts Payable | 5,942 | -7,058 | 48,332 | ||||||||
Taxes Receivable/(Accrued) | 23,178 | 13,295 | -16,872 | ||||||||
Other Current Assets and Liabilities | 14,484 | -1,411 | 60,182 | ||||||||
Net Cash Flows Provided by Operating Activities | 730,680 | 472,052 | 375,627 | ||||||||
Investing Activities: | |||||||||||
Capital Contributions To Subsidiaries | -437,553 | -65,400 | -81,431 | ||||||||
Return Of Investment In Subsidiaries | 0 | 0 | 8,207 | ||||||||
(Increase) Decrease in Due from Related Parties | 0 | 0 | 2,200 | ||||||||
(Increase) Decrease In Notes Receivable From Affiliated Company | 86,100 | 5,475 | -704,475 | ||||||||
Other Investing Activities | 0 | -1,862 | -608 | ||||||||
Net Cash Flows Used in Investing Activities | -351,453 | -61,787 | -776,107 | ||||||||
Financing Activities: | |||||||||||
Cash Dividends on Common Stock | -475,227 | -462,741 | -375,047 | ||||||||
Increase/(Decrease) in Short-Term Debt | 86,575 | -135,500 | 733,500 | ||||||||
Issuance of Long-Term Debt | 0 | 750,000 | 300,000 | ||||||||
Retirements of Long-Term Debt | 0 | -550,000 | -263,000 | ||||||||
Other Financing Activities | 9,528 | -12,418 | 5,394 | ||||||||
Net Cash Flows Provided by/(Used in) Financing Activities | -379,124 | -410,659 | 400,847 | ||||||||
Supplemental Cash Flow Information [Abstract] | |||||||||||
Interest Paid, Net of Amounts Capitalized | 36,208 | 33,822 | 50,144 | ||||||||
Income Taxes Paid | -86,804 | -30,603 | -27,126 | ||||||||
Net Increase/(Decrease) in Cash | 103 | -394 | 367 | ||||||||
Cash - Beginning of Year | 35 | 429 | 35 | 429 | 62 | ||||||
Cash - End of Year | $138 | $35 | $138 | $35 | $429 |
SCHEDULE_I_Comprehensive_Incom
SCHEDULE I - Comprehensive Income (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Net Income | $223,600 | $236,500 | $129,200 | $237,800 | $179,200 | $211,400 | $173,100 | $230,000 | $827,065 | $793,689 | $533,077 |
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease Abstract | |||||||||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 2,037 | 2,049 | 1,971 | ||||||||
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | 315 | -940 | 217 | ||||||||
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax | -30,330 | 25,714 | -4,356 | ||||||||
Other Comprehensive Income (Loss), Net of Tax | -27,978 | 26,823 | -2,168 | ||||||||
Comprehensive Income Attributable to Noncontrolling Interests | -7,519 | -7,682 | -7,132 | ||||||||
Comprehensive Income | 791,568 | 812,830 | 523,777 | ||||||||
NSTAR Electric Company [Member] | |||||||||||
Net Income | 69,300 | 115,600 | 60,100 | 58,100 | 55,400 | 107,000 | 58,000 | 48,100 | 303,088 | 268,546 | 190,242 |
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease Abstract | |||||||||||
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax | 442 | ||||||||||
Other Comprehensive Income (Loss), Net of Tax | 442 | ||||||||||
Comprehensive Income | 303,530 | 268,546 | 190,242 | ||||||||
Nu Parent [Member] | |||||||||||
Net Income | 819,546 | 786,007 | 526,048 | ||||||||
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease Abstract | |||||||||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 2,037 | 2,049 | 1,971 | ||||||||
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | 315 | -940 | 217 | ||||||||
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax | -30,330 | 25,714 | -4,356 | ||||||||
Other Comprehensive Income (Loss), Net of Tax | -27,978 | 26,823 | -2,168 | ||||||||
Comprehensive Income Attributable to Noncontrolling Interests | 0 | 0 | -103 | ||||||||
Comprehensive Income | $791,568 | $812,830 | $523,777 |
SCHEDULE_II_VALUATION_AND_QUAL
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS AND RESERVES (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Valuation Allowances and Reserves, Beginning Balance | $171,251 | $165,549 | $115,689 |
Valuation Allowances and Reserves, Charged to Cost and Expense | 55,657 | 55,465 | 36,275 |
Valuation Allowances and Reserves, Charged to Other Accounts | 51,227 | 37,744 | 34,761 |
Valuation Allowances and Reserves, Deductions | 102,818 | 87,507 | 80,462 |
Valuation Allowances and Reserves, Ending Balance | 175,317 | 171,251 | 165,549 |
Uncollectible Hardship Accounts Receivable Reserves | |||
Impact Related To Nstar Merger | 0 | 0 | 59,286 |
The Connecticut Light And Power Company [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Valuation Allowances and Reserves, Beginning Balance | 81,995 | 77,571 | 83,475 |
Valuation Allowances and Reserves, Charged to Cost and Expense | 6,598 | 3,947 | 2,080 |
Valuation Allowances and Reserves, Charged to Other Accounts | 39,706 | 27,258 | 27,084 |
Valuation Allowances and Reserves, Deductions | 44,012 | 26,781 | 35,068 |
Valuation Allowances and Reserves, Ending Balance | 84,287 | 81,995 | 77,571 |
NSTAR Electric Company [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Valuation Allowances and Reserves, Beginning Balance | 41,679 | 44,115 | 27,118 |
Valuation Allowances and Reserves, Charged to Cost and Expense | 24,740 | 28,108 | 40,301 |
Valuation Allowances and Reserves, Charged to Other Accounts | 627 | 0 | 0 |
Valuation Allowances and Reserves, Deductions | 26,376 | 30,544 | 23,304 |
Valuation Allowances and Reserves, Ending Balance | 40,670 | 41,679 | 44,115 |
Public Service Company Of New Hampshire [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Valuation Allowances and Reserves, Beginning Balance | 7,364 | 6,760 | 7,190 |
Valuation Allowances and Reserves, Charged to Cost and Expense | 6,815 | 6,608 | 6,457 |
Valuation Allowances and Reserves, Charged to Other Accounts | 797 | 779 | 2,481 |
Valuation Allowances and Reserves, Deductions | 7,313 | 6,783 | 9,368 |
Valuation Allowances and Reserves, Ending Balance | 7,663 | 7,364 | 6,760 |
Western Massachusetts Electric Company [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Valuation Allowances and Reserves, Beginning Balance | 9,984 | 8,501 | 10,018 |
Valuation Allowances and Reserves, Charged to Cost and Expense | 2,415 | 2,580 | 2,294 |
Valuation Allowances and Reserves, Charged to Other Accounts | 3,608 | 4,299 | 2,428 |
Valuation Allowances and Reserves, Deductions | 6,127 | 5,396 | 6,239 |
Valuation Allowances and Reserves, Ending Balance | 9,880 | 9,984 | 8,501 |
Uncollectible Hardship Accounts Receivable Reserves | |||
Yankee Gas Services Company [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Uncollectible Hardship Accounts Receivable Reserves |