DOCUMENT_AND_ENTITY_INFORMATIO
DOCUMENT AND ENTITY INFORMATION (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Apr. 30, 2015 | |
Document And Entity [Line Items] | ||
Entity Registrant Name | Eversource Energy | |
Document Period End Date | 31-Mar-15 | |
Document Type | 10-Q | |
Entity Central Index Key | 72741 | |
Current Fiscal Year End Date | -19 | |
Entity Common Stock, Shares Outstanding | 317,647,540 | |
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 | 2015 | |
Document Fiscal Period Focus | Q1 | |
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 $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Current Assets: | ||
Cash | $71,027 | $38,703 |
Receivables, Net | 1,131,434 | 856,346 |
Unbilled Revenues | 229,760 | 211,758 |
Taxes Receivable | 99,680 | 337,307 |
Fuel, Materials and Supplies | 281,492 | 349,664 |
Regulatory Assets Current | 747,349 | 672,493 |
Prepayments and Other Current Assets | 231,949 | 226,194 |
Total Current Assets | 2,792,691 | 2,692,465 |
Property, Plant and Equipment, Net | 18,810,708 | 18,647,041 |
Deferred Debits and Other Assets: | ||
Regulatory Assets Long Term | 3,981,507 | 4,054,086 |
Goodwill | 3,519,401 | 3,519,401 |
Marketable Securities | 518,065 | 515,025 |
Other Long-Term Assets | 329,393 | 349,957 |
Total Deferred Debits and Other Assets | 8,348,366 | 8,438,469 |
Total Assets | 29,951,765 | 29,777,975 |
Current Liabilities: | ||
Notes Payable | 1,003,500 | 956,825 |
Long-Term Debt - Current Portion | 245,583 | 245,583 |
Accounts Payable - Current | 739,324 | 868,231 |
Obligations to Third Party Suppliers | 157,143 | 115,632 |
Deferred Tax Liabilities Current | 218,582 | 160,288 |
Regulatory Liability Current | 201,180 | 235,022 |
Other Liabilities - Current | 546,470 | 552,800 |
Total Current Liabilities | 3,111,782 | 3,134,381 |
Deferred Credits and Other Liabilities: | ||
Accumulated Deferred Income Taxes | 4,574,630 | 4,467,473 |
Regulatory Liabilities Long-Term | 524,940 | 515,144 |
Long-Term Derivative Liabilities | 396,617 | 409,632 |
Accrued Pension, PBOP and SERP | 1,605,339 | 1,638,558 |
Other Long-Term Liabilities | 870,417 | 874,387 |
Total Deferred Credits and Other Liabilities | 7,971,943 | 7,905,194 |
Capitalization: | ||
Long-Term Debt | 8,602,067 | 8,606,017 |
Noncontrolling Interest in Consolidated Subsidiary: | ||
Temporary Equity, Carrying Amount, Attributable to Noncontrolling Interest | 155,568 | 155,568 |
Common Shareholders' Equity: | ||
Common Stock | 1,668,039 | 1,666,796 |
Capital Surplus, Paid In | 6,241,417 | 6,235,834 |
Retained Earnings | 2,569,482 | 2,448,661 |
Accumulated Other Comprehensive Loss | -72,414 | -74,009 |
Treasury Stock | -296,119 | -300,467 |
Common Shareholders' Equity | 10,110,405 | 9,976,815 |
Total Capitalization | 18,868,040 | 18,738,400 |
Total Liabilities and Capitalization | 29,951,765 | 29,777,975 |
The Connecticut Light And Power Company [Member] | ||
Current Assets: | ||
Cash | 16,818 | 2,356 |
Receivables, Net | 449,506 | 355,140 |
Accounts Receivable from Affiliated Companies | 27,618 | 16,757 |
Unbilled Revenues | 113,498 | 102,137 |
Taxes Receivable | 0 | 116,148 |
Regulatory Assets Current | 209,628 | 220,344 |
Materials and Supplies | 48,135 | 46,664 |
Prepayments and Other Current Assets | 51,074 | 37,822 |
Total Current Assets | 916,277 | 897,368 |
Property, Plant and Equipment, Net | 6,874,891 | 6,809,664 |
Deferred Debits and Other Assets: | ||
Regulatory Assets Long Term | 1,454,150 | 1,475,508 |
Other Long-Term Assets | 171,085 | 177,568 |
Total Deferred Debits and Other Assets | 1,625,235 | 1,653,076 |
Total Assets | 9,416,403 | 9,360,108 |
Current Liabilities: | ||
Notes Payable To Affiliated Companies | 190,100 | 133,400 |
Long-Term Debt - Current Portion | 162,000 | 162,000 |
Accounts Payable - Current | 230,175 | 272,971 |
Accounts Payable to Affiliated Companies | 67,063 | 65,594 |
Obligations to Third Party Suppliers | 81,820 | 73,624 |
Regulatory Liability Current | 84,127 | 124,722 |
Derivative Liabilities - Current | 88,218 | 88,459 |
Other Liabilities - Current | 207,843 | 153,420 |
Total Current Liabilities | 1,111,346 | 1,074,190 |
Deferred Credits and Other Liabilities: | ||
Accumulated Deferred Income Taxes | 1,652,415 | 1,642,805 |
Regulatory Liabilities Long-Term | 82,110 | 81,298 |
Long-Term Derivative Liabilities | 395,038 | 406,199 |
Accrued Pension, PBOP and SERP | 272,292 | 273,854 |
Other Long-Term Liabilities | 150,396 | 148,844 |
Total Deferred Credits and Other Liabilities | 2,552,251 | 2,553,000 |
Capitalization: | ||
Long-Term Debt | 2,680,123 | 2,679,951 |
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 | 1,805,626 | 1,804,869 |
Retained Earnings | 1,091,321 | 1,072,477 |
Accumulated Other Comprehensive Loss | -816 | -931 |
Common Shareholders' Equity | 2,956,483 | 2,936,767 |
Total Capitalization | 5,752,806 | 5,732,918 |
Total Liabilities and Capitalization | 9,416,403 | 9,360,108 |
NSTAR Electric Company [Member] | ||
Current Assets: | ||
Cash | 17,897 | 12,773 |
Receivables, Net | 317,410 | 234,481 |
Accounts Receivable from Affiliated Companies | 8,372 | 40,353 |
Unbilled Revenues | 29,228 | 29,741 |
Taxes Receivable | 63,652 | 144,601 |
Fuel, Materials and Supplies | 87,683 | 74,179 |
Regulatory Assets Current | 309,547 | 198,710 |
Prepayments and Other Current Assets | 7,885 | 10,815 |
Total Current Assets | 841,674 | 745,653 |
Property, Plant and Equipment, Net | 5,364,311 | 5,335,436 |
Deferred Debits and Other Assets: | ||
Regulatory Assets Long Term | 1,178,738 | 1,179,100 |
Other Long-Term Assets | 55,839 | 73,051 |
Total Deferred Debits and Other Assets | 1,234,577 | 1,252,151 |
Total Assets | 7,440,562 | 7,333,240 |
Current Liabilities: | ||
Notes Payable | 215,500 | 302,000 |
Long-Term Debt - Current Portion | 4,700 | 4,700 |
Accounts Payable - Current | 233,852 | 217,311 |
Accounts Payable to Affiliated Companies | 127,904 | 63,517 |
Obligations to Third Party Suppliers | 63,336 | 34,824 |
Renewable Portfolio Standards Compliance Obligation | 55,853 | 35,698 |
Deferred Tax Liabilities Current | 111,288 | 55,136 |
Regulatory Liability Current | 24,605 | 49,611 |
Other Liabilities - Current | 116,128 | 115,991 |
Total Current Liabilities | 953,166 | 878,788 |
Deferred Credits and Other Liabilities: | ||
Accumulated Deferred Income Taxes | 1,530,972 | 1,527,667 |
Regulatory Liabilities Long-Term | 268,122 | 262,738 |
Accrued Pension, PBOP and SERP | 228,411 | 235,529 |
Other Long-Term Liabilities | 126,006 | 129,279 |
Total Deferred Credits and Other Liabilities | 2,153,511 | 2,155,213 |
Capitalization: | ||
Long-Term Debt | 1,792,717 | 1,792,712 |
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 | 995,378 | 994,130 |
Retained Earnings | 1,502,528 | 1,468,955 |
Accumulated Other Comprehensive Loss | 262 | 442 |
Common Shareholders' Equity | 2,498,168 | 2,463,527 |
Total Capitalization | 4,333,885 | 4,299,239 |
Total Liabilities and Capitalization | 7,440,562 | 7,333,240 |
Public Service Company Of New Hampshire [Member] | ||
Current Assets: | ||
Cash | 5,149 | 489 |
Receivables, Net | 99,748 | 80,151 |
Accounts Receivable from Affiliated Companies | 9,917 | 3,194 |
Unbilled Revenues | 43,359 | 40,181 |
Taxes Receivable | 31,147 | 14,571 |
Fuel, Materials and Supplies | 113,566 | 148,139 |
Regulatory Assets Current | 99,994 | 111,705 |
Prepayments and Other Current Assets | 13,520 | 27,821 |
Total Current Assets | 416,400 | 426,251 |
Property, Plant and Equipment, Net | 2,666,312 | 2,635,844 |
Deferred Debits and Other Assets: | ||
Regulatory Assets Long Term | 287,203 | 293,115 |
Other Long-Term Assets | 33,517 | 39,228 |
Total Deferred Debits and Other Assets | 320,720 | 332,343 |
Total Assets | 3,403,432 | 3,394,438 |
Current Liabilities: | ||
Notes Payable To Affiliated Companies | 82,000 | 90,500 |
Accounts Payable - Current | 62,513 | 93,349 |
Accounts Payable to Affiliated Companies | 42,670 | 33,734 |
Deferred Tax Liabilities Current | 34,217 | 36,164 |
Regulatory Liability Current | 16,102 | 16,044 |
Other Liabilities - Current | 39,777 | 38,969 |
Total Current Liabilities | 277,279 | 308,760 |
Deferred Credits and Other Liabilities: | ||
Accumulated Deferred Income Taxes | 627,450 | 587,292 |
Regulatory Liabilities Long-Term | 51,897 | 51,372 |
Accrued Pension, PBOP and SERP | 91,847 | 93,243 |
Other Long-Term Liabilities | 45,088 | 50,155 |
Total Deferred Credits and Other Liabilities | 816,282 | 782,062 |
Capitalization: | ||
Long-Term Debt | 1,076,303 | 1,076,286 |
Common Shareholders' Equity: | ||
Common Stock | 0 | 0 |
Capital Surplus, Paid In | 748,634 | 748,240 |
Retained Earnings | 492,004 | 486,459 |
Accumulated Other Comprehensive Loss | -7,070 | -7,369 |
Common Shareholders' Equity | 1,233,568 | 1,227,330 |
Total Capitalization | 2,309,871 | 2,303,616 |
Total Liabilities and Capitalization | 3,403,432 | 3,394,438 |
Western Massachusetts Electric Company [Member] | ||
Current Assets: | ||
Cash | 2,045 | 0 |
Receivables, Net | 72,366 | 51,066 |
Accounts Receivable from Affiliated Companies | 8,726 | 7,851 |
Unbilled Revenues | 18,186 | 15,146 |
Taxes Receivable | 18,062 | 18,126 |
Regulatory Assets Current | 66,706 | 51,923 |
Marketable Securities - Current | 33,183 | 28,658 |
Prepayments and Other Current Assets | 6,431 | 7,607 |
Total Current Assets | 225,705 | 180,377 |
Property, Plant and Equipment, Net | 1,483,895 | 1,461,321 |
Deferred Debits and Other Assets: | ||
Regulatory Assets Long Term | 137,894 | 146,307 |
Marketable Securities | 25,027 | 29,452 |
Other Long-Term Assets | 22,726 | 22,018 |
Total Deferred Debits and Other Assets | 185,647 | 197,777 |
Total Assets | 1,895,247 | 1,839,475 |
Current Liabilities: | ||
Notes Payable To Affiliated Companies | 70,500 | 21,400 |
Long-Term Debt - Current Portion | 50,000 | 50,000 |
Accounts Payable - Current | 40,665 | 53,732 |
Accounts Payable to Affiliated Companies | 21,634 | 14,328 |
Deferred Tax Liabilities Current | 24,607 | 18,089 |
Regulatory Liability Current | 22,289 | 22,486 |
Other Liabilities - Current | 22,958 | 24,080 |
Total Current Liabilities | 252,653 | 204,115 |
Deferred Credits and Other Liabilities: | ||
Accumulated Deferred Income Taxes | 419,043 | 416,822 |
Regulatory Liabilities Long-Term | 12,673 | 10,835 |
Accrued Pension, PBOP and SERP | 16,505 | 17,705 |
Other Long-Term Liabilities | 34,182 | 33,747 |
Total Deferred Credits and Other Liabilities | 482,403 | 479,109 |
Capitalization: | ||
Long-Term Debt | 578,239 | 578,471 |
Common Shareholders' Equity: | ||
Common Stock | 10,866 | 10,866 |
Capital Surplus, Paid In | 391,398 | 391,256 |
Retained Earnings | 182,778 | 178,834 |
Accumulated Other Comprehensive Loss | -3,090 | -3,176 |
Common Shareholders' Equity | 581,952 | 577,780 |
Total Capitalization | 1,160,191 | 1,156,251 |
Total Liabilities and Capitalization | $1,895,247 | $1,839,475 |
CONSOLIDATED_STATEMENTS_OF_INC
CONSOLIDATED STATEMENTS OF INCOME (USD $) | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Operating Revenues | $2,513,431 | $2,290,590 |
Operating Expenses: | ||
Purchased Power and Transmission | 1,162,049 | 978,150 |
Operations and Maintenance | 333,382 | 351,688 |
Depreciation | 163,837 | 150,807 |
Amortization of Regulatory Assets/(Liabilities), Net | 60,604 | 57,898 |
Energy Efficiency Programs | 146,603 | 138,825 |
Taxes Other Than Income Taxes | 149,481 | 145,533 |
Total Operating Expenses | 2,015,956 | 1,822,901 |
Operating Income | 497,475 | 467,689 |
Interest Expense: | ||
Interest on Long-Term Debt | 87,714 | 87,377 |
Other Interest | 7,129 | 2,598 |
Total Interest Expense | 94,843 | 89,975 |
Other Income/(Loss), Net | 5,727 | 1,667 |
Income Before Income Tax Expense | 408,359 | 379,381 |
Income Tax Expense | 153,226 | 141,545 |
Net Income | 255,133 | 237,836 |
Net Income Attributable to Noncontrolling Interests | 1,879 | 1,879 |
Net Income Attributable to Controlling Interests | 253,254 | 235,957 |
Basic Earnings Per Common Share | $0.80 | $0.75 |
Diluted Earnings Per Common Share | $0.80 | $0.74 |
Common Stock Dividends Per Share Declared | $0.42 | $0.39 |
Weighted Average Common Shares Outstanding: | ||
Basic | 317,090,841 | 315,534,512 |
Diluted | 318,491,188 | 316,892,119 |
The Connecticut Light And Power Company [Member] | ||
Operating Revenues | 804,917 | 734,614 |
Operating Expenses: | ||
Purchased Power and Transmission | 333,619 | 281,381 |
Operations and Maintenance | 117,357 | 109,514 |
Depreciation | 52,902 | 46,130 |
Amortization of Regulatory Assets/(Liabilities), Net | 48,306 | 29,931 |
Energy Efficiency Programs | 42,807 | 42,694 |
Taxes Other Than Income Taxes | 68,080 | 66,953 |
Total Operating Expenses | 663,071 | 576,603 |
Operating Income | 141,846 | 158,011 |
Interest Expense: | ||
Interest on Long-Term Debt | 33,482 | 32,908 |
Other Interest | 3,142 | 1,335 |
Total Interest Expense | 36,624 | 34,243 |
Other Income/(Loss), Net | 2,159 | 1,072 |
Income Before Income Tax Expense | 107,381 | 124,840 |
Income Tax Expense | 38,147 | 45,541 |
Net Income | 69,234 | 79,299 |
NSTAR Electric Company [Member] | ||
Operating Revenues | 766,808 | 666,188 |
Operating Expenses: | ||
Purchased Power and Transmission | 401,867 | 319,082 |
Operations and Maintenance | 75,824 | 85,924 |
Depreciation | 48,768 | 46,626 |
Amortization of Regulatory Assets/(Liabilities), Net | -5,565 | 15,664 |
Energy Efficiency Programs | 55,417 | 48,329 |
Taxes Other Than Income Taxes | 30,962 | 32,151 |
Total Operating Expenses | 607,273 | 547,776 |
Operating Income | 159,535 | 118,412 |
Interest Expense: | ||
Interest on Long-Term Debt | 18,645 | 20,756 |
Other Interest | 1,801 | 304 |
Total Interest Expense | 20,446 | 21,060 |
Other Income/(Loss), Net | 602 | -31 |
Income Before Income Tax Expense | 139,691 | 97,321 |
Income Tax Expense | 56,130 | 39,234 |
Net Income | 83,561 | 58,087 |
Public Service Company Of New Hampshire [Member] | ||
Operating Revenues | 284,847 | 299,833 |
Operating Expenses: | ||
Purchased Power and Transmission | 99,579 | 115,246 |
Operations and Maintenance | 58,428 | 62,212 |
Depreciation | 25,646 | 24,215 |
Amortization of Regulatory Assets/(Liabilities), Net | 15,132 | 12,562 |
Energy Efficiency Programs | 3,772 | 3,839 |
Taxes Other Than Income Taxes | 19,079 | 17,715 |
Total Operating Expenses | 221,636 | 235,789 |
Operating Income | 63,211 | 64,044 |
Interest Expense: | ||
Interest on Long-Term Debt | 11,399 | 11,526 |
Other Interest | -127 | 445 |
Total Interest Expense | 11,272 | 11,971 |
Other Income/(Loss), Net | 382 | 265 |
Income Before Income Tax Expense | 52,321 | 52,338 |
Income Tax Expense | 20,276 | 19,700 |
Net Income | 32,045 | 32,638 |
Western Massachusetts Electric Company [Member] | ||
Operating Revenues | 152,864 | 137,409 |
Operating Expenses: | ||
Purchased Power and Transmission | 69,661 | 49,431 |
Operations and Maintenance | 19,784 | 22,579 |
Depreciation | 10,375 | 10,321 |
Amortization of Regulatory Assets/(Liabilities), Net | 3,927 | 399 |
Energy Efficiency Programs | 11,075 | 11,865 |
Taxes Other Than Income Taxes | 9,437 | 8,082 |
Total Operating Expenses | 124,259 | 102,677 |
Operating Income | 28,605 | 34,732 |
Interest Expense: | ||
Interest on Long-Term Debt | 6,045 | 6,062 |
Other Interest | 778 | -416 |
Total Interest Expense | 6,823 | 5,646 |
Other Income/(Loss), Net | 575 | 574 |
Income Before Income Tax Expense | 22,357 | 29,660 |
Income Tax Expense | 9,113 | 11,558 |
Net Income | $13,244 | $18,102 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Net Income | $255,133 | $237,836 |
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease Abstract | ||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 509 | 509 |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | 132 | 240 |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax | 954 | 961 |
Other Comprehensive Income (Loss), Net of Tax, Total | 1,595 | 1,710 |
Comprehensive Income Attributable to Noncontrolling Interests | -1,879 | -1,879 |
Comprehensive Income | 254,849 | 237,667 |
The Connecticut Light And Power Company [Member] | ||
Net Income | 69,234 | 79,299 |
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease Abstract | ||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 111 | 111 |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | 4 | 8 |
Other Comprehensive Income (Loss), Net of Tax, Total | 115 | 119 |
Comprehensive Income | 69,349 | 79,418 |
NSTAR Electric Company [Member] | ||
Net Income | 83,561 | 58,087 |
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 | -180 | |
Other Comprehensive Income (Loss), Net of Tax, Total | -180 | |
Comprehensive Income | 83,381 | |
Public Service Company Of New Hampshire [Member] | ||
Net Income | 32,045 | 32,638 |
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease Abstract | ||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 291 | 290 |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | 8 | 14 |
Other Comprehensive Income (Loss), Net of Tax, Total | 299 | 304 |
Comprehensive Income | 32,344 | 32,942 |
Western Massachusetts Electric Company [Member] | ||
Net Income | 13,244 | 18,102 |
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease Abstract | ||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 85 | 85 |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | 1 | 2 |
Other Comprehensive Income (Loss), Net of Tax, Total | 86 | 87 |
Comprehensive Income | $13,330 | $18,189 |
CONSOLIDATED_STATEMENT_OF_CASH
CONSOLIDATED STATEMENT OF CASH FLOWS (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Operating Activities: | ||
Net Income | $255,133 | $237,836 |
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities: | ||
Depreciation | 163,837 | 150,807 |
Deferred Income Tax Expense (Benefit) | 148,193 | 137,417 |
Pension, SERP and PBOP Expense | 26,495 | 24,995 |
Pension and PBOP Contributions | -26,659 | -6,622 |
Regulatory Over/(Under) Recoveries, Net | -110,748 | 872 |
Amortization of Regulatory Assets/(Liabilities), Net | 60,604 | 57,898 |
Proceeds from DOE Damages Claim, Net | 0 | 163,300 |
Other Noncash Income (Expense) | -21,617 | -7,574 |
CYAPC and YAEC Deferred DOE Proceeds | -163,300 | |
Changes in Current Assets and Liabilities: | ||
Receivables and Unbilled Revenues, Net | -328,299 | -182,221 |
Increase Decrease in Fuel, Materials and Supplies | 68,172 | 75,041 |
Taxes Receivable/(Accrued) | 272,021 | -59,840 |
Accounts Payable | -59,496 | 53,905 |
Other Current Assets and Liabilities | 34,179 | 11,282 |
Net Cash Flows Provided by Operating Activities | 481,815 | 493,796 |
Investing Activities: | ||
Investments in Property, Plant and Equipment | -362,586 | -348,691 |
Proceeds from Sales of Marketable Securities | 114,730 | 128,505 |
Purchases of Marketable Securities | -116,735 | -132,605 |
Other Investing Activities | 66 | 1,637 |
Net Cash Flows Used in Investing Activities | -364,525 | -351,154 |
Financing Activities: | ||
Cash Dividends on Common Stock | -132,433 | -118,460 |
Cash Dividends on Preferred Stock | -1,879 | -1,879 |
Increase/(Decrease) in Short-Term Debt | -399,575 | -299,500 |
Issuance of Long-Term Debt | 450,000 | 400,000 |
Retirements of Long-Term Debt | 0 | -75,000 |
Other Financing Activities | -1,079 | -2,017 |
Net Cash Flows Provided by/(Used in) Financing Activities | -84,966 | -96,856 |
Net Increase/(Decrease) in Cash | 32,324 | 45,786 |
Cash - Beginning of Year | 38,703 | 43,364 |
Cash - End of Year | 71,027 | 89,150 |
The Connecticut Light And Power Company [Member] | ||
Operating Activities: | ||
Net Income | 69,234 | 79,299 |
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities: | ||
Depreciation | 52,902 | 46,130 |
Deferred Income Tax Expense (Benefit) | 19,340 | 59,334 |
Pension, SERP and PBOP Expense, Net of Contributions | 3,883 | 4,086 |
Regulatory Over/(Under) Recoveries, Net | -67,393 | -40,399 |
Amortization of Regulatory Assets/(Liabilities), Net | 48,306 | 29,931 |
Other Noncash Income (Expense) | 2,322 | 4,536 |
Changes in Current Assets and Liabilities: | ||
Receivables and Unbilled Revenues, Net | -124,969 | -82,833 |
Taxes Receivable/(Accrued) | 158,163 | 7,015 |
Accounts Payable | -20,194 | -2,872 |
Other Current Assets and Liabilities | -7,727 | -8,730 |
Net Cash Flows Provided by Operating Activities | 133,867 | 95,497 |
Investing Activities: | ||
Investments in Property, Plant and Equipment | -127,631 | -107,993 |
Other Investing Activities | 1,981 | 1,027 |
Net Cash Flows Used in Investing Activities | -125,650 | -106,966 |
Financing Activities: | ||
Cash Dividends on Common Stock | -49,000 | -42,800 |
Cash Dividends on Preferred Stock | -1,390 | -1,390 |
Increase/(Decrease) in Notes Payable to Affiliate | 56,700 | 64,300 |
Other Financing Activities | -65 | -203 |
Net Cash Flows Provided by/(Used in) Financing Activities | 6,245 | 19,907 |
Net Increase/(Decrease) in Cash | 14,462 | 8,438 |
Cash - Beginning of Year | 2,356 | 7,237 |
Cash - End of Year | 16,818 | 15,675 |
NSTAR Electric Company [Member] | ||
Operating Activities: | ||
Net Income | 83,561 | 58,087 |
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities: | ||
Bad Debt Expense | 8,049 | 6,096 |
Depreciation | 48,768 | 46,626 |
Deferred Income Tax Expense (Benefit) | 41,297 | 1,585 |
Pension, SERP and PBOP Expense, Net of Contributions | 1,164 | -4,908 |
Regulatory Over/(Under) Recoveries, Net | -103,142 | 6,423 |
Amortization of Regulatory Assets/(Liabilities), Net | -5,565 | 15,664 |
Other Noncash Income (Expense) | -21,885 | -15,538 |
Changes in Current Assets and Liabilities: | ||
Receivables and Unbilled Revenues, Net | -90,465 | -14,348 |
Increase Decrease in Fuel, Materials and Supplies | -13,504 | -3,606 |
Taxes Receivable/(Accrued) | 96,319 | 21,504 |
Accounts Payable | 29,210 | 86,309 |
Other Current Assets and Liabilities | 51,157 | 31,112 |
Accounts Payable Related Parties | 96,368 | -43,654 |
Net Cash Flows Provided by Operating Activities | 221,332 | 191,352 |
Investing Activities: | ||
Investments in Property, Plant and Equipment | -79,776 | -94,957 |
Other Investing Activities | 53 | -489 |
Net Cash Flows Used in Investing Activities | -79,723 | -95,446 |
Financing Activities: | ||
Cash Dividends on Common Stock | -49,500 | -253,000 |
Cash Dividends on Preferred Stock | -490 | -490 |
Increase/(Decrease) in Short-Term Debt | -86,500 | -103,500 |
Issuance of Long-Term Debt | 0 | 300,000 |
Other Financing Activities | 5 | -4,902 |
Net Cash Flows Provided by/(Used in) Financing Activities | -136,485 | -61,892 |
Net Increase/(Decrease) in Cash | 5,124 | 34,014 |
Cash - Beginning of Year | 12,773 | 8,021 |
Cash - End of Year | 17,897 | 42,035 |
Public Service Company Of New Hampshire [Member] | ||
Operating Activities: | ||
Net Income | 32,045 | 32,638 |
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities: | ||
Depreciation | 25,646 | 24,215 |
Deferred Income Tax Expense (Benefit) | 38,767 | 33,667 |
Regulatory Over/(Under) Recoveries, Net | -288 | 6,827 |
Amortization of Regulatory Assets/(Liabilities), Net | 15,132 | 12,562 |
Other Noncash Income (Expense) | 2,999 | 4,660 |
Changes in Current Assets and Liabilities: | ||
Receivables and Unbilled Revenues, Net | -31,556 | -14,268 |
Increase Decrease in Fuel, Materials and Supplies | 34,572 | 34,326 |
Taxes Receivable/(Accrued) | -16,576 | -30,254 |
Accounts Payable | -4,285 | 3,403 |
Other Current Assets and Liabilities | 17,468 | 21,505 |
Net Cash Flows Provided by Operating Activities | 113,924 | 129,281 |
Investing Activities: | ||
Investments in Property, Plant and Equipment | -71,905 | -61,864 |
Other Investing Activities | -2,277 | -76 |
Net Cash Flows Used in Investing Activities | -74,182 | -61,940 |
Financing Activities: | ||
Cash Dividends on Common Stock | -26,500 | -16,500 |
Increase/(Decrease) in Notes Payable to Affiliate | -8,500 | -46,600 |
Other Financing Activities | -82 | -87 |
Net Cash Flows Provided by/(Used in) Financing Activities | -35,082 | -63,187 |
Net Increase/(Decrease) in Cash | 4,660 | 4,154 |
Cash - Beginning of Year | 489 | 130 |
Cash - End of Year | 5,149 | 4,284 |
Western Massachusetts Electric Company [Member] | ||
Operating Activities: | ||
Net Income | 13,244 | 18,102 |
Adjustments to Reconcile Net Income to Net Cash Flows Provided by Operating Activities: | ||
Depreciation | 10,375 | 10,321 |
Deferred Income Tax Expense (Benefit) | 12,759 | 14,688 |
Regulatory Over/(Under) Recoveries, Net | -14,442 | 5,780 |
Amortization of Regulatory Assets/(Liabilities), Net | 3,927 | 399 |
Other Noncash Income (Expense) | -1,197 | -1,351 |
Changes in Current Assets and Liabilities: | ||
Receivables and Unbilled Revenues, Net | -26,298 | 34,905 |
Taxes Receivable/(Accrued) | 64 | -17,126 |
Accounts Payable | 85 | -10,516 |
Other Current Assets and Liabilities | 65 | -8,869 |
Net Cash Flows Provided by Operating Activities | -1,418 | 46,333 |
Investing Activities: | ||
Investments in Property, Plant and Equipment | -35,899 | -30,347 |
Proceeds from Sales of Marketable Securities | 23,249 | 34,656 |
Purchases of Marketable Securities | -23,442 | -34,804 |
Net Cash Flows Used in Investing Activities | -36,092 | -30,495 |
Financing Activities: | ||
Cash Dividends on Common Stock | -9,300 | -49,000 |
Increase/(Decrease) in Notes Payable to Affiliate | 49,100 | 37,400 |
Other Financing Activities | -245 | -11 |
Net Cash Flows Provided by/(Used in) Financing Activities | 39,555 | -11,611 |
Net Increase/(Decrease) in Cash | 2,045 | 4,227 |
Cash - Beginning of Year | 0 | 0 |
Cash - End of Year | $2,045 | $4,227 |
SUMMARY_OF_SIGNIFICANT_ACCOUNT
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 3 Months Ended | |||||||||||||
Mar. 31, 2015 | ||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ||||||||||||||
Significant Accounting Policies [Text Block] | EVERSOURCE ENERGY AND SUBSIDIARIES | |||||||||||||
THE CONNECTICUT LIGHT AND POWER COMPANY | ||||||||||||||
NSTAR ELECTRIC COMPANY AND SUBSIDIARY | ||||||||||||||
PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE AND SUBSIDIARY | ||||||||||||||
WESTERN MASSACHUSETTS ELECTRIC COMPANY | ||||||||||||||
COMBINED NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) | ||||||||||||||
Refer to the Glossary of Terms included in this combined Quarterly Report on Form 10-Q for abbreviations and acronyms used throughout the combined notes to the unaudited condensed consolidated financial statements. | ||||||||||||||
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||||||||||||||
A. Basis of Presentation | ||||||||||||||
Eversource Energy is a public utility holding company primarily engaged through its wholly owned regulated utility subsidiaries in the energy delivery business. Eversource Energy's wholly owned regulated utility subsidiaries consist of CL&P, NSTAR Electric, PSNH, WMECO, Yankee Gas and NSTAR Gas. Eversource 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 April 29, 2015, the Company's name was changed from Northeast Utilities to Eversource Energy. CL&P, NSTAR Electric, PSNH and WMECO operate under the brand Eversource Energy. | ||||||||||||||
The unaudited condensed consolidated financial statements of Eversource, NSTAR Electric and PSNH include the accounts of each of their respective subsidiaries. Intercompany transactions have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements of Eversource, NSTAR Electric and PSNH and the unaudited condensed financial statements of CL&P and WMECO are herein collectively referred to as the "financial statements." | ||||||||||||||
The combined notes to the financial statements have been prepared pursuant to the rules and regulations of the SEC. Certain information and footnote disclosures included in annual financial statements prepared in accordance with GAAP have been omitted pursuant to such rules and regulations. The accompanying financial statements should be read in conjunction with the entirety of this combined Quarterly Report on Form 10-Q and the 2014 combined Annual Report on Form 10-K of Eversource, CL&P, NSTAR Electric, PSNH and WMECO, which was filed with the SEC. The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | ||||||||||||||
The financial statements contain, in the opinion of management, all adjustments (including normal, recurring adjustments) necessary to present fairly Eversource's, CL&P's, NSTAR Electric's, PSNH's and WMECO's financial position as of March 31, 2015 and December 31, 2014, and the results of operations, comprehensive income and cash flows for the three months ended March 31, 2015 and 2014. The results of operations, comprehensive income and cash flows for the three months ended March 31, 2015 and 2014 are not necessarily indicative of the results expected for a full year. | ||||||||||||||
Eversource 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 Eversource financial statements. | ||||||||||||||
Eversource's utility subsidiaries' distribution (including generation) and transmission businesses and NPT are subject to rate-regulation that is based on cost recovery and meets the criteria for application of accounting guidance for entities with rate-regulated operations, which considers the effect of regulation on the differences in the timing of the recognition of certain revenues and expenses from those of other businesses and industries. See Note 2, "Regulatory Accounting," for further information. | ||||||||||||||
Certain reclassifications of prior period data were made in the accompanying financial statements to conform to the current period presentation. | ||||||||||||||
B. Accounting Standards | ||||||||||||||
Accounting Standards Issued but not Yet Adopted: In May 2014, the Financial Accounting Standards Board (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). In April 2015, the FASB decided to propose a one-year deferral of the effective date of the ASU. Management is reviewing the requirements of the ASU. The ASU is not expected to have a material impact on the financial statements of Eversource, CL&P, NSTAR Electric, PSNH and WMECO. | ||||||||||||||
C. Provision for Uncollectible Accounts | ||||||||||||||
Eversource, 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 | |||||||||||||
(Millions of Dollars) | As of March 31, 2015 | As of December 31, 2014 | As of March 31, 2015 | As of December 31, 2014 | ||||||||||
ES | $ | 187.4 | $ | 175.3 | $ | 92.3 | $ | 91.5 | ||||||
CL&P | 86.6 | 84.3 | 74.5 | 74 | ||||||||||
NSTAR Electric | 43.8 | 40.7 | - | - | ||||||||||
PSNH | 8.1 | 7.7 | - | - | ||||||||||
WMECO | 10.7 | 9.9 | 6.5 | 6.2 | ||||||||||
D. Fair Value Measurements | ||||||||||||||
Fair value measurement guidance is applied to derivative contracts that are not elected or designated as "normal purchases or normal sales" (normal) and to the marketable securities held in trusts. Fair value measurement guidance is also applied to 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, Eversource 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. Eversource evaluates the classification of assets and liabilities measured at fair value on a quarterly basis, and Eversource'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 Eversource's fair value measurements are described in Note 4, "Derivative Instruments," Note 5, "Marketable Securities," and Note 9, "Fair Value of Financial Instruments," to the financial statements. | ||||||||||||||
E. Other Income, Net | ||||||||||||||
Items included within Other Income, Net on the statements of income primarily consist of investment income/(loss), interest income, AFUDC related to equity funds, and equity in earnings. Investment income/(loss) primarily relates to debt and equity securities held in trust. For further information, see Note 5, "Marketable Securities," to the financial statements. | ||||||||||||||
F. Other Taxes | ||||||||||||||
Gross receipts taxes levied by the state of Connecticut are collected by CL&P and Yankee Gas from their respective customers. These gross receipts taxes are shown on a gross basis with collections in Operating Revenues and payments in Taxes Other Than Income Taxes on the statements of income as follows: | ||||||||||||||
For the Three Months Ended | ||||||||||||||
(Millions of Dollars) | 31-Mar-15 | 31-Mar-14 | ||||||||||||
ES | $ | 41.9 | $ | 44.4 | ||||||||||
CL&P | 33 | 35.6 | ||||||||||||
Certain sales taxes are collected by Eversource's companies that serve customers in Connecticut and Massachusetts as agents for state and local governments and are recorded on a net basis with no impact on the statements of income. | ||||||||||||||
G. | Supplemental Cash Flow Information | |||||||||||||
Non-cash investing activities include plant additions included in Accounts Payable as follows: | ||||||||||||||
(Millions of Dollars) | As of March 31, 2015 | As of March 31, 2014 | ||||||||||||
ES | $ | 110.4 | $ | 108.5 | ||||||||||
CL&P | 42.3 | 36.2 | ||||||||||||
NSTAR Electric | 21.9 | 28 | ||||||||||||
PSNH | 21.7 | 14.4 | ||||||||||||
WMECO | 8.3 | 14.4 | ||||||||||||
H. Severance Benefits | ||||||||||||||
For the three months ended March 31, 2015 and 2014, Eversource recorded severance benefit expense of $0.4 million and $4.3 million, respectively, in connection with ongoing post-merger integration and, in 2014, the partial outsourcing of information technology functions. As of March 31, 2015 and December 31, 2014, the severance accrual totaled $9 million and $10.4 million, respectively, and was included in Other Current Liabilities on the balance sheets. |
REGULATORY_ACCOUNTING
REGULATORY ACCOUNTING | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||||||||||||||||
Public Utilities Disclosure [Text Block] | 2. REGULATORY ACCOUNTING | ||||||||||||||||||||||||
Eversource's Regulated companies are subject to rate-regulation that is based on cost recovery and meets the criteria for application of accounting guidance for entities with rate-regulated operations and reflect the effects of the rate-making process. The rates charged to the customers of Eversource's Regulated companies are designed to collect each company's costs to provide service, including a return on investment. | |||||||||||||||||||||||||
Management believes it is probable that each of the Regulated companies will recover their respective investments in long-lived assets, including regulatory assets. If management were to determine that it could no longer apply the accounting guidance applicable to rate-regulated enterprises to any of the Regulated companies' operations, or that management could not conclude it is probable that costs would be recovered from customers in future rates, the costs would be charged to net income in the period in which the determination is made. | |||||||||||||||||||||||||
Regulatory Assets: The components of regulatory assets are as follows: | |||||||||||||||||||||||||
As of March 31, 2015 | As of December 31, 2014 | ||||||||||||||||||||||||
(Millions of Dollars) | ES | ES | |||||||||||||||||||||||
Benefit Costs | $ | 1,976.60 | $ | 2,016.00 | |||||||||||||||||||||
Derivative Liabilities | 410.2 | 425.5 | |||||||||||||||||||||||
Income Taxes, Net | 632.1 | 635.3 | |||||||||||||||||||||||
Storm Restoration Costs | 504.8 | 502.8 | |||||||||||||||||||||||
Goodwill-related | 500.2 | 505.4 | |||||||||||||||||||||||
Regulatory Tracker Mechanisms | 434.5 | 350.5 | |||||||||||||||||||||||
Contractual Obligations - Yankee Companies | 119 | 123.8 | |||||||||||||||||||||||
Other Regulatory Assets | 151.4 | 167.3 | |||||||||||||||||||||||
Total Regulatory Assets | 4,728.80 | 4,726.60 | |||||||||||||||||||||||
Less: Current Portion | 747.3 | 672.5 | |||||||||||||||||||||||
Total Long-Term Regulatory Assets | $ | 3,981.50 | $ | 4,054.10 | |||||||||||||||||||||
As of March 31, 2015 | As of December 31, 2014 | ||||||||||||||||||||||||
NSTAR | NSTAR | ||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | |||||||||||||||||
Benefit Costs | $ | 436.7 | $ | 505.6 | $ | 171.2 | $ | 83.3 | $ | 445.4 | $ | 515.9 | $ | 174.3 | $ | 85 | |||||||||
Derivative Liabilities | 403.3 | 3.5 | - | - | 410.9 | 4.5 | - | - | |||||||||||||||||
Income Taxes, Net | 438.7 | 83.7 | 36.8 | 31.2 | 437.7 | 83.7 | 38 | 35.5 | |||||||||||||||||
Storm Restoration Costs | 308.5 | 119.7 | 46.9 | 29.7 | 319.6 | 103.7 | 47.7 | 31.8 | |||||||||||||||||
Goodwill-related | - | 429.5 | - | - | - | 433.9 | - | - | |||||||||||||||||
Regulatory Tracker Mechanisms | 10.1 | 261.2 | 93.4 | 47.6 | 16.1 | 141.4 | 103.5 | 33 | |||||||||||||||||
Other Regulatory Assets | 66.5 | 85 | 38.9 | 12.8 | 66.1 | 94.7 | 41.3 | 12.9 | |||||||||||||||||
Total Regulatory Assets | 1,663.80 | 1,488.20 | 387.2 | 204.6 | 1,695.80 | 1,377.80 | 404.8 | 198.2 | |||||||||||||||||
Less: Current Portion | 209.6 | 309.5 | 100 | 66.7 | 220.3 | 198.7 | 111.7 | 51.9 | |||||||||||||||||
Total Long-Term Regulatory Assets | $ | 1,454.20 | $ | 1,178.70 | $ | 287.2 | $ | 137.9 | $ | 1,475.50 | $ | 1,179.10 | $ | 293.1 | $ | 146.3 | |||||||||
Regulatory Costs in Other Long-Term Assets: The Regulated companies had $49.3 million ($1.6 million for CL&P, $18.3 million for NSTAR Electric, $0.4 million for PSNH and $11.8 million for WMECO) and $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) of additional regulatory costs as of March 31, 2015 and December 31, 2014, 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 March 31, 2015 and December 31, 2014 primarily related to costs deferred in connection with the basic service bad debt adder. See Note 8E, "Commitments and Contingencies – Basic Service Bad Debt Adder," for further information. | |||||||||||||||||||||||||
Regulatory Liabilities: The components of regulatory liabilities are as follows: | |||||||||||||||||||||||||
As of March 31, 2015 | As of December 31, 2014 | ||||||||||||||||||||||||
(Millions of Dollars) | ES | ES | |||||||||||||||||||||||
Cost of Removal | $ | 452.8 | $ | 439.9 | |||||||||||||||||||||
Regulatory Tracker Mechanisms | 183.3 | 192.3 | |||||||||||||||||||||||
AFUDC - Transmission | 67.1 | 67.1 | |||||||||||||||||||||||
Other Regulatory Liabilities | 22.9 | 50.8 | |||||||||||||||||||||||
Total Regulatory Liabilities | 726.1 | 750.1 | |||||||||||||||||||||||
Less: Current Portion | 201.2 | 235 | |||||||||||||||||||||||
Total Long-Term Regulatory Liabilities | $ | 524.9 | $ | 515.1 | |||||||||||||||||||||
As of March 31, 2015 | As of December 31, 2014 | ||||||||||||||||||||||||
NSTAR | NSTAR | ||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | |||||||||||||||||
Cost of Removal | $ | 23.1 | $ | 263.4 | $ | 51.3 | $ | 2.8 | $ | 19.7 | $ | 258.3 | $ | 50.3 | $ | 1.1 | |||||||||
Regulatory Tracker Mechanisms | 77.5 | 22.5 | 13.9 | 22.2 | 122.6 | 20.7 | 14.2 | 22.3 | |||||||||||||||||
AFUDC - Transmission | 53.3 | 4.7 | - | 9.1 | 53.6 | 4.4 | - | 9.1 | |||||||||||||||||
Other Regulatory Liabilities | 12.3 | 2.1 | 2.8 | 0.9 | 10.1 | 28.9 | 2.9 | 0.8 | |||||||||||||||||
Total Regulatory Liabilities | 166.2 | 292.7 | 68 | 35 | 206 | 312.3 | 67.4 | 33.3 | |||||||||||||||||
Less: Current Portion | 84.1 | 24.6 | 16.1 | 22.3 | 124.7 | 49.6 | 16 | 22.5 | |||||||||||||||||
Total Long-Term Regulatory Liabilities | $ | 82.1 | $ | 268.1 | $ | 51.9 | $ | 12.7 | $ | 81.3 | $ | 262.7 | $ | 51.4 | $ | 10.8 | |||||||||
2015 Regulatory Developments: As a result of the March 3, 2015 FERC order in the pending ROE complaint proceedings described in Note 8C, "Commitments and Contingencies – FERC ROE Complaints," in the first quarter of 2015, Eversource recognized a pre-tax charge to earnings (excluding interest) of $20 million, of which $12.5 million was recorded at CL&P, $2.4 million at NSTAR Electric, $1 million at PSNH, and $4.1 million at WMECO. The pre-tax charge was recorded as a regulatory liability and as a reduction of Operating Revenues. | |||||||||||||||||||||||||
On March 2, 2015, the DPU approved the comprehensive settlement agreement between NSTAR Electric, NSTAR Gas and the Massachusetts Attorney General (the "Settlement") as filed with the DPU on December 31, 2014. The Settlement resolved the outstanding NSTAR Electric CPSL program filings for 2006 through 2011, the NSTAR Electric and NSTAR Gas PAM and energy efficiency-related customer billing adjustments reported in 2012, and the recovery of LBR related to NSTAR Electric's energy efficiency programs for 2008 through 2011 (11 dockets in total). As a result, NSTAR Electric and NSTAR Gas will refund a combined $44.7 million to customers. The refund was recorded as a regulatory liability as of March 31, 2015 and NSTAR Electric recognized a $21.7 million pre-tax benefit in the first quarter of 2015. For further information, see Note 8D, "Commitments and Contingencies – 2014 Comprehensive Settlement Agreement." | |||||||||||||||||||||||||
On January 7, 2015, the DPU issued an order concluding that NSTAR Electric had appropriately accounted for the removal of supply-related bad debt costs from base distribution rates effective January 1, 2006. The DPU ordered NSTAR Electric and the Massachusetts Attorney General to collaborate on the reconciliation of energy-related bad debt costs through 2014. During the second quarter of 2015, NSTAR Electric expects to file with the DPU to recover from customers approximately $43 million of supply-related bad debt costs. In the first quarter of 2015, as a result of the DPU order, NSTAR Electric increased its regulatory assets and reduced Operations and Maintenance expense by $24.2 million, resulting in an increase in after-tax earnings of $14.5 million. For further information, see Note 8E, "Commitments and Contingencies – Basic Service Bad Debt Adder." |
PROPERTY_PLANT_AND_ACCUMULATED
PROPERTY, PLANT AND ACCUMULATED DEPRECIATION | 3 Months Ended | |||||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ||||||||||||||||||||||||
Property Plant And Equipment Disclosure [Text Block] | 3. PROPERTY, PLANT AND EQUIPMENT AND ACCUMULATED DEPRECIATION | |||||||||||||||||||||||
The following tables summarize the investments in utility property, plant and equipment by asset category: | ||||||||||||||||||||||||
As of March 31, 2015 | As of December 31, 2014 | |||||||||||||||||||||||
(Millions of Dollars) | ES | ES | ||||||||||||||||||||||
Distribution - Electric | $ | 12,539.30 | $ | 12,495.20 | ||||||||||||||||||||
Distribution - Natural Gas | 2,584.80 | 2,595.40 | ||||||||||||||||||||||
Transmission | 6,959.40 | 6,930.70 | ||||||||||||||||||||||
Generation | 1,172.20 | 1,170.90 | ||||||||||||||||||||||
Electric and Natural Gas Utility | 23,255.70 | 23,192.20 | ||||||||||||||||||||||
Other (1) | 547.9 | 551.3 | ||||||||||||||||||||||
Property, Plant and Equipment, Gross | 23,803.60 | 23,743.50 | ||||||||||||||||||||||
Less: Accumulated Depreciation | ||||||||||||||||||||||||
Electric and Natural Gas Utility | -5,842.60 | -5,777.80 | ||||||||||||||||||||||
Other | -232.3 | -231.8 | ||||||||||||||||||||||
Total Accumulated Depreciation | -6,074.90 | -6,009.60 | ||||||||||||||||||||||
Property, Plant and Equipment, Net | 17,728.70 | 17,733.90 | ||||||||||||||||||||||
Construction Work in Progress | 1,082.00 | 913.1 | ||||||||||||||||||||||
Total Property, Plant and Equipment, Net | $ | 18,810.70 | $ | 18,647.00 | ||||||||||||||||||||
(1) These assets are primarily comprised of building improvements, computer software, hardware and equipment and telecommunications assets at Eversource Service and Eversource's unregulated companies. | ||||||||||||||||||||||||
As of March 31, 2015 | As of December 31, 2014 | |||||||||||||||||||||||
NSTAR | NSTAR | |||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | ||||||||||||||||
Distribution | $ | 5,180.00 | $ | 4,907.80 | $ | 1,704.10 | $ | 787.4 | $ | 5,158.80 | $ | 4,895.50 | $ | 1,696.70 | $ | 784.2 | ||||||||
Transmission | 3,274.70 | 1,950.60 | 794.6 | 891.9 | 3,274.00 | 1,928.50 | 789.7 | 891 | ||||||||||||||||
Generation | - | - | 1,137.80 | 34.4 | - | - | 1,136.50 | 34.4 | ||||||||||||||||
Property, Plant and Equipment, Gross | 8,454.70 | 6,858.40 | 3,636.50 | 1,713.70 | 8,432.80 | 6,824.00 | 3,622.90 | 1,709.60 | ||||||||||||||||
Less: Accumulated Depreciation | -1,950.70 | -1,783.60 | -1,105.70 | -303.3 | -1,928.00 | -1,761.40 | -1,090.00 | -297.4 | ||||||||||||||||
Property, Plant and Equipment, Net | 6,504.00 | 5,074.80 | 2,530.80 | 1,410.40 | 6,504.80 | 5,062.60 | 2,532.90 | 1,412.20 | ||||||||||||||||
Construction Work in Progress | 370.9 | 289.5 | 135.5 | 73.5 | 304.9 | 272.8 | 102.9 | 49.1 | ||||||||||||||||
Total Property, Plant and Equipment, Net | $ | 6,874.90 | $ | 5,364.30 | $ | 2,666.30 | $ | 1,483.90 | $ | 6,809.70 | $ | 5,335.40 | $ | 2,635.80 | $ | 1,461.30 | ||||||||
As of March 31, 2015, PSNH had $1.1 billion in gross generation assets and Accumulated Depreciation of $497.1 million. These generation assets are the subject of a divestiture agreement in principle in a settlement Term Sheet entered into on March 11, 2015 between PSNH and key New Hampshire officials (Term Sheet) whereby, among other resolutions, PSNH has agreed to sell these assets. Upon completion of the sale, all remaining stranded costs will be recovered via bonds that will be secured by a non-bypassable charge to PSNH's customers. Consummation of the Term Sheet provisions is conditioned upon the enactment of New Hampshire legislation, completion of a final Settlement Agreement reflecting the provisions of the Term Sheet (Settlement Agreement), and NHPUC approval of the Settlement Agreement. See Note 8F, “Commitments and Contingencies – PSNH Generation Restructuring,” for further information. |
DERIVATIVE_INSTRUMENTS
DERIVATIVE INSTRUMENTS | 3 Months Ended | |||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||
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 settlement amounts are recovered from, or refunded to, customers in their respective energy supply rates. | ||||||||||||||||||||
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 March 31, 2015 | As of December 31, 2014 | |||||||||||||||||||
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 3: | ||||||||||||||||||||
ES | $ | 16 | $ | -6.6 | $ | 9.4 | $ | 16.2 | $ | -6.6 | $ | 9.6 | ||||||||
CL&P | 16 | -6.6 | 9.4 | 16.1 | -6.6 | 9.5 | ||||||||||||||
NSTAR Electric | - | - | - | 0.1 | - | 0.1 | ||||||||||||||
Long-Term Derivative Assets: | ||||||||||||||||||||
Level 3: | ||||||||||||||||||||
ES, CL&P | $ | 88.3 | $ | -17.8 | $ | 70.5 | $ | 93.5 | $ | -19.2 | $ | 74.3 | ||||||||
Current Derivative Liabilities: | ||||||||||||||||||||
Level 2: | ||||||||||||||||||||
ES | $ | -3.2 | $ | - | $ | -3.2 | $ | -9.8 | $ | - | $ | -9.8 | ||||||||
Level 3: | ||||||||||||||||||||
ES | -90.3 | - | -90.3 | -90 | - | -90 | ||||||||||||||
CL&P | -88.2 | - | -88.2 | -88.5 | - | -88.5 | ||||||||||||||
NSTAR Electric | -2.1 | - | -2.1 | -1.5 | - | -1.5 | ||||||||||||||
Long-Term Derivative Liabilities: | ||||||||||||||||||||
Level 2: | ||||||||||||||||||||
ES | $ | -0.2 | $ | - | $ | -0.2 | $ | -0.3 | $ | - | $ | -0.3 | ||||||||
Level 3: | ||||||||||||||||||||
ES | -396.4 | - | -396.4 | -409.3 | - | -409.3 | ||||||||||||||
CL&P | -395 | - | -395 | -406.2 | - | -406.2 | ||||||||||||||
NSTAR Electric | -1.4 | - | -1.4 | -3.1 | - | -3.1 | ||||||||||||||
(1) Amounts represent derivative assets and liabilities that Eversource elected to record net on the balance sheets. These amounts are subject to master netting agreements or similar agreements for which the right of offset exists. | ||||||||||||||||||||
For further information on the fair value of derivative contracts, see Note 1D, "Summary of Significant Accounting Policies - Fair Value Measurements," to the financial statements. | ||||||||||||||||||||
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 March 31, 2015 and December 31, 2014, Eversource had NYMEX financial contracts for natural gas futures in order to reduce variability associated with the purchase price of approximately 5.3 million and 8.8 million MMBtu of natural gas, respectively. | ||||||||||||||||||||
For the three months ended March 31, 2015 and 2014, there were losses of $16.6 million and gains of $54.1 million, respectively, recorded as regulatory assets and liabilities, which reflect the current change in fair value associated with Eversource's derivative contracts. | ||||||||||||||||||||
Credit Risk | ||||||||||||||||||||
Certain of Eversource's derivative contracts contain credit risk contingent provisions. These provisions require Eversource 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 March 31, 2015, Eversource had approximately $3 million of derivative contracts in a net liability position that were subject to credit risk contingent provisions and would have been required to post additional collateral of approximately $3 million if ES parent's unsecured debt credit ratings had been downgraded to below investment grade. As of December 31, 2014, Eversource had approximately $10 million of derivative contracts in a net liability position that were subject to credit risk contingent provisions and would have been required to post additional collateral of approximately $10 million if ES parent's unsecured debt credit ratings had been downgraded to below investment grade. | ||||||||||||||||||||
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 Eversource'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 March 31, 2015 | As of December 31, 2014 | |||||||||||||||||||
Range | Period Covered | Range | Period Covered | |||||||||||||||||
Energy Prices: | ||||||||||||||||||||
ES, CL&P | $ | 48 | per MWh | 2020 | $ | 52 | per MWh | 2020 | ||||||||||||
Capacity Prices: | ||||||||||||||||||||
ES | $ | 8.8 | - | 12.98 | per kW-Month | 2016 - 2026 | $ | 5.3 | - | 12.98 | per kW-Month | 2016 - 2026 | ||||||||
CL&P | $ | 11.13 | - | 12.98 | per kW-Month | 2019 - 2026 | $ | 11.08 | - | 12.98 | per kW-Month | 2018 - 2026 | ||||||||
NSTAR Electric | $ | 8.8 | - | 11.13 | per kW-Month | 2016 - 2019 | $ | 5.3 | - | 11.1 | per kW-Month | 2016 - 2019 | ||||||||
Forward Reserve: | ||||||||||||||||||||
ES, CL&P | $ | 5.8 | - | 9.5 | per kW-Month | 2015 - 2024 | $ | 5.8 | - | 9.5 | per kW-Month | 2015 - 2024 | ||||||||
REC Prices: | ||||||||||||||||||||
ES, NSTAR Electric | $ | 45 | - | 50 | per REC | 2015 - 2018 | $ | 38 | - | 56 | per REC | 2015 - 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 table presents changes in the Level 3 category of derivative assets and derivative liabilities measured at fair value on a recurring basis. The derivative assets and liabilities are presented on a net basis. | ||||||||||||||||||||
For the Three Months Ended March 31, | ||||||||||||||||||||
2015 | 2014 | |||||||||||||||||||
NSTAR | NSTAR | |||||||||||||||||||
(Millions of Dollars) | ES | CL&P | Electric | ES | CL&P | Electric | ||||||||||||||
Derivatives, Net: | ||||||||||||||||||||
Fair Value as of Beginning of Period | $ | -415.4 | $ | -410.9 | $ | -4.5 | $ | -635.2 | $ | -630.6 | $ | -7.3 | ||||||||
Net Realized/Unrealized Gains/(Losses) Included in Regulatory Assets and Liabilities | -12.1 | -12.1 | - | 49.2 | 52 | -0.1 | ||||||||||||||
Settlements | 20.7 | 19.7 | 1 | 21.7 | 21.6 | 0.1 | ||||||||||||||
Fair Value as of End of Period | $ | -406.8 | $ | -403.3 | $ | -3.5 | $ | -564.3 | $ | -557 | $ | -7.3 |
MARKETABLE_SECURITIES
MARKETABLE SECURITIES | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||||||||||||||||
Marketable Securities [Text Block] | 5. MARKETABLE SECURITIES | ||||||||||||||||||||||||
Eversource 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 March 31, 2015 and December 31, 2014, the mutual funds and equity investments were classified as Level 1 in the fair value hierarchy and totaled $86.7 million and $85.1 million, respectively. For the three months ended March 31, 2015 and 2014, net gains on these securities of $1.6 million and $0.7 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 Eversource'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 March 31, 2015 | As of December 31, 2014 | ||||||||||||||||||||||||
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 | |||||||||||||||||
ES | |||||||||||||||||||||||||
Debt Securities (1) | $ | 318.2 | $ | 8.2 | $ | -0.1 | $ | 326.3 | $ | 313 | $ | 7.5 | $ | -0.3 | $ | 320.2 | |||||||||
Equity Securities (1) | 159.5 | 77 | - | 236.5 | 160.6 | 73.3 | - | 233.9 | |||||||||||||||||
WMECO | |||||||||||||||||||||||||
Debt Securities (2) | 58.2 | - | - | 58.2 | 58.2 | - | -0.1 | 58.1 | |||||||||||||||||
Eversource's amounts include CYAPC's and YAEC's marketable securities held in nuclear decommissioning trusts of $458.3 million and $450.8 million as of March 31, 2015 and December 31, 2014, 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 Eversource 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 Eversource's benefit trust, Other Long-Term Assets for WMECO, and are offset in Other Long-Term Liabilities for CYAPC and YAEC. Eversource utilizes the specific identification basis method for the Eversource 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 March 31, 2015, the contractual maturities of available-for-sale debt securities were as follows: | |||||||||||||||||||||||||
ES | WMECO | ||||||||||||||||||||||||
Amortized | Amortized | ||||||||||||||||||||||||
(Millions of Dollars) | Cost | Fair Value | Cost | Fair Value | |||||||||||||||||||||
Less than one year (1) | $ | 59.9 | $ | 59.9 | $ | 33.2 | $ | 33.2 | |||||||||||||||||
One to five years | 83.3 | 83.8 | 21.3 | 21.3 | |||||||||||||||||||||
Six to ten years | 61.6 | 63.5 | 0.6 | 0.6 | |||||||||||||||||||||
Greater than ten years | 113.4 | 119.1 | 3.1 | 3.1 | |||||||||||||||||||||
Total Debt Securities | $ | 318.2 | $ | 326.3 | $ | 58.2 | $ | 58.2 | |||||||||||||||||
1) Amounts in the Less than one year Eversource 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: | |||||||||||||||||||||||||
ES | WMECO | ||||||||||||||||||||||||
(Millions of Dollars) | As of March 31, 2015 | As of December 31, 2014 | As of March 31, 2015 | As of December 31, 2014 | |||||||||||||||||||||
Level 1: | |||||||||||||||||||||||||
Mutual Funds and Equities | $ | 323.2 | $ | 319 | $ | - | $ | - | |||||||||||||||||
Money Market Funds | 32.9 | 24.9 | 10.5 | 4.3 | |||||||||||||||||||||
Total Level 1 | $ | 356.1 | $ | 343.9 | $ | 10.5 | $ | 4.3 | |||||||||||||||||
Level 2: | |||||||||||||||||||||||||
U.S. Government Issued Debt Securities (Agency and Treasury) | $ | 46 | $ | 51.3 | $ | - | $ | - | |||||||||||||||||
Corporate Debt Securities | 157.3 | 49.1 | 14.4 | 14.7 | |||||||||||||||||||||
Asset-Backed Debt Securities | 36.5 | 54.1 | 12.1 | 14.5 | |||||||||||||||||||||
Municipal Bonds | 31.9 | 116.3 | 12.9 | 13 | |||||||||||||||||||||
Other Fixed Income Securities | 21.7 | 24.5 | 8.3 | 11.6 | |||||||||||||||||||||
Total Level 2 | $ | 293.4 | $ | 295.3 | $ | 47.7 | $ | 53.8 | |||||||||||||||||
Total Marketable Securities | $ | 649.5 | $ | 639.2 | $ | 58.2 | $ | 58.1 | |||||||||||||||||
U.S. government issued debt securities are valued using market approaches that incorporate transactions for the same or similar bonds and adjustments for yields and maturity dates. Corporate debt securities are valued using a market approach, utilizing recent trades of the same or similar instrument and also incorporating yield curves, credit spreads and specific bond terms and conditions. Asset-backed debt securities include collateralized mortgage obligations, commercial mortgage backed securities, and securities collateralized by auto loans, credit card loans or receivables. Asset-backed debt securities are valued using recent trades of similar instruments, prepayment assumptions, yield curves, issuance and maturity dates, and tranche information. Municipal bonds are valued using a market approach that incorporates reported trades and benchmark yields. Other fixed income securities are valued using pricing models, quoted prices of securities with similar characteristics, and discounted cash flows. |
SHORT_TERM_AND_LONG_TERM_DEBT
SHORT TERM AND LONG TERM DEBT | 3 Months Ended |
Mar. 31, 2015 | |
Notes To Consolidated Financial Statements [Abstract] | |
Debt Disclosure | 6. SHORT-TERM AND LONG-TERM DEBT |
Credit Agreements and Commercial Paper Programs: ES parent, CL&P, PSNH, WMECO, NSTAR Gas and Yankee Gas are parties to a five-year $1.45 billion revolving credit facility that expires September 6, 2019. The revolving credit facility is used primarily to backstop ES parent's $1.45 billion commercial paper program. The commercial paper program allows ES parent to issue commercial paper as a form of short-term debt. As of March 31, 2015 and December 31, 2014, ES parent had $788 million and approximately $1.1 billion, respectively, in short-term borrowings outstanding under the ES parent commercial paper program, leaving $662 million and $348.9 million of available borrowing capacity as of March 31, 2015 and December 31, 2014, respectively. The weighted-average interest rate on these borrowings as of March 31, 2015 and December 31, 2014 was 0.53 percent and 0.43 percent, respectively, which is generally based on A2/P2 rated commercial paper. As of March 31, 2015, there were intercompany loans from ES parent of $190.1 million to CL&P, $82 million to PSNH and $70.5 million to WMECO. As of December 31, 2014, there were intercompany loans from ES parent of $133.4 million to CL&P, $90.5 million to PSNH and $21.4 million to WMECO. | |
NSTAR Electric has a five-year $450 million revolving credit facility that expires September 6, 2019. This facility serves to backstop NSTAR Electric's existing $450 million commercial paper program. As of March 31, 2015 and December 31, 2014, NSTAR Electric had $215.5 million and $302 million, respectively, in short-term borrowings outstanding under its commercial paper program, leaving $234.5 million and $148 million of available borrowing capacity as of March 31, 2015 and December 31, 2014, respectively. The weighted-average interest rate on these borrowings as of March 31, 2015 and December 31, 2014 was 0.35 percent and 0.27 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 Eversource 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 ES parent to CL&P, PSNH and WMECO are included in Notes Payable to ES Parent and classified in current liabilities on the balance sheets. Intercompany loans from ES parent to CL&P, PSNH and WMECO are eliminated in consolidation in Eversource's balance sheets. | |
Long-Term Debt: On January 15, 2015, ES 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 ES parent 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 April 1, 2015, CL&P repaid at maturity the $100 million 5.00 percent 2005 Series A First and Refunding Mortgage Bonds using short-term borrowings. On April 1, 2015, CL&P also redeemed the $62 million 1996A Series 1.55 percent PCRBs that were subject to mandatory tender, using short term borrowings. | |
Long-Term Debt Issuance Authorization: On April 3, 2015, the DPU authorized NSTAR Gas to issue up to $100 million in long-term debt for the period through December 31, 2015. |
PENSION_BENEFITS_AND_POSTRETIR
PENSION BENEFITS AND POSTRETIREMENT BENEFITS OTHER THAN PENSIONS | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||||||||||||||||
Pension and Other Postretirement Benefits Disclosure [Text Block] | 7. Pension Benefits and Postretirement Benefits Other than Pensions | ||||||||||||||||||||||||
As of December 31, 2014, Eversource Service sponsored two defined benefit retirement plans that covered eligible employees, including employees of CL&P, NSTAR Electric, PSNH and WMECO. Effective January 1, 2015, the two pension plans were merged into one plan, sponsored by Eversource Service. As of December 31, 2014, Eversource Service 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, including employees of CL&P, NSTAR Electric, PSNH and WMECO. Effective January 1, 2015, the postretirement plans were merged into one plan, sponsored by Eversource Service. | |||||||||||||||||||||||||
The components of net periodic benefit expense for the Pension, SERP and PBOP Plans are shown below. The net periodic benefit expense and the intercompany allocations less the capitalized portion of pension, SERP and PBOP amounts is included in Operations and Maintenance on the statements of income. Capitalized pension and PBOP amounts relate to employees working on capital projects and are included in Property, Plant and Equipment, Net. Intercompany allocations are not included in the CL&P, NSTAR Electric, PSNH and WMECO net periodic benefit expense amounts. Pension, SERP and 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. | |||||||||||||||||||||||||
Pension and SERP | |||||||||||||||||||||||||
For the Three Months Ended | |||||||||||||||||||||||||
31-Mar-15 | 31-Mar-14 | ||||||||||||||||||||||||
(Millions of Dollars) | ES (1) | ES | |||||||||||||||||||||||
Service Cost | $ | 23.2 | $ | 22.3 | |||||||||||||||||||||
Interest Cost | 56.6 | 56.6 | |||||||||||||||||||||||
Expected Return on Plan Assets | -84.3 | -77.7 | |||||||||||||||||||||||
Actuarial Loss | 38.9 | 33 | |||||||||||||||||||||||
Prior Service Cost | 0.9 | 1.1 | |||||||||||||||||||||||
Total Net Periodic Benefit Expense | $ | 35.3 | $ | 35.3 | |||||||||||||||||||||
Capitalized Pension Expense | $ | 9.6 | $ | 9.7 | |||||||||||||||||||||
PBOP | |||||||||||||||||||||||||
For the Three Months Ended | |||||||||||||||||||||||||
31-Mar-15 | 31-Mar-14 | ||||||||||||||||||||||||
(Millions of Dollars) | ES (1) | ES | |||||||||||||||||||||||
Service Cost | $ | 4.2 | $ | 3 | |||||||||||||||||||||
Interest Cost | 11.9 | 12.6 | |||||||||||||||||||||||
Expected Return on Plan Assets | -16.8 | -15.7 | |||||||||||||||||||||||
Actuarial Loss | 1.8 | 3 | |||||||||||||||||||||||
Prior Service Credit | -0.1 | -0.6 | |||||||||||||||||||||||
Total Net Periodic Benefit Expense | $ | 1 | $ | 2.3 | |||||||||||||||||||||
Capitalized PBOP Expense | $ | 0.2 | $ | 0.4 | |||||||||||||||||||||
Pension and SERP | |||||||||||||||||||||||||
For the Three Months Ended March 31, 2015 | For the Three Months Ended March 31, 2014 | ||||||||||||||||||||||||
NSTAR | NSTAR | ||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH (1) | WMECO | CL&P | Electric | PSNH | WMECO | |||||||||||||||||
Service Cost | $ | 6 | $ | 3.8 | $ | 2.9 | $ | 1.1 | $ | 5.2 | $ | 4.6 | $ | 2.8 | $ | 1 | |||||||||
Interest Cost | 12.7 | 10.2 | 5.9 | 2.5 | 13.3 | 10.2 | 6.5 | 2.7 | |||||||||||||||||
Expected Return on Plan Assets | -19.7 | -17.6 | -10 | -4.7 | -19.4 | -15.8 | -10.2 | -4.6 | |||||||||||||||||
Actuarial Loss | 8.2 | 9.6 | 3 | 1.6 | 9.1 | 5.8 | 3.3 | 1.9 | |||||||||||||||||
Prior Service Cost | 0.4 | - | 0.1 | 0.1 | 0.5 | - | 0.2 | 0.1 | |||||||||||||||||
Total Net Periodic Benefit Expense | $ | 7.6 | $ | 6 | $ | 1.9 | $ | 0.6 | $ | 8.7 | $ | 4.8 | $ | 2.6 | $ | 1.1 | |||||||||
Intercompany Allocations | $ | 6.4 | $ | 3.6 | $ | 1.7 | $ | 1.2 | $ | 6.8 | $ | 2.4 | $ | 1.9 | $ | 1.3 | |||||||||
Capitalized Pension Expense | $ | 4.3 | $ | 2.8 | $ | 0.8 | $ | 0.5 | $ | 4.9 | $ | 1.9 | $ | 0.9 | $ | 0.8 | |||||||||
PBOP | |||||||||||||||||||||||||
For the Three Months Ended March 31, 2015 | For the Three Months Ended March 31, 2014 | ||||||||||||||||||||||||
NSTAR | NSTAR | ||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH (1) | WMECO | CL&P | Electric | PSNH | WMECO | |||||||||||||||||
Service Cost | $ | 0.6 | $ | 1.3 | $ | 0.4 | $ | 0.1 | $ | 0.6 | $ | 0.7 | $ | 0.4 | $ | 0.1 | |||||||||
Interest Cost | 1.8 | 4.8 | 1 | 0.4 | 2.1 | 4.9 | 1.1 | 0.5 | |||||||||||||||||
Expected Return on Plan Assets | -2.8 | -6.8 | -1.5 | -0.6 | -2.7 | -6.4 | -1.4 | -0.6 | |||||||||||||||||
Actuarial Loss/(Gain) | 0.2 | 0.8 | 0.1 | - | 1.1 | -0.1 | 0.5 | 0.1 | |||||||||||||||||
Prior Service Credit | - | -0.1 | - | - | - | -0.5 | - | - | |||||||||||||||||
Total Net Periodic Benefit Expense/(Income) | $ | -0.2 | $ | - | $ | - | $ | -0.1 | $ | 1.1 | $ | -1.4 | $ | 0.6 | $ | 0.1 | |||||||||
Intercompany Allocations | $ | 0.5 | $ | 0.3 | $ | 0.1 | $ | 0.1 | $ | 1.1 | $ | 0.1 | $ | 0.3 | $ | 0.2 | |||||||||
Capitalized PBOP Expense/(Income) | $ | - | $ | 0.1 | $ | - | $ | - | $ | 0.5 | $ | -0.5 | $ | 0.2 | $ | 0.1 | |||||||||
(1) Amounts exclude approximately $1 million that represented deferred regulatory assets. |
COMMITMENTS_AND_CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 3 Months Ended | ||||||||||||
Mar. 31, 2015 | |||||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||||
Commitments and Contingencies Disclosure [Text Block] | 8. COMMITMENTS AND CONTINGENCIES | ||||||||||||
A. Environmental Matters | |||||||||||||
General: Eversource, 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. Eversource, CL&P, NSTAR Electric, PSNH and WMECO have an active environmental auditing and training program and believe that they are substantially in compliance with all enacted laws and regulations. | |||||||||||||
The number of environmental sites and reserves related to these sites for which remediation or long-term monitoring, preliminary site work or site assessment are being performed are as follows: | |||||||||||||
As of March 31, 2015 | As of December 31, 2014 | ||||||||||||
Reserve | Reserve | ||||||||||||
Number of Sites | (in millions) | Number of Sites | (in millions) | ||||||||||
ES | 65 | $ | 43.6 | 65 | $ | 43.3 | |||||||
CL&P | 16 | 5 | 16 | 3.8 | |||||||||
NSTAR Electric | 14 | 1.7 | 13 | 1.1 | |||||||||
PSNH | 12 | 3.4 | 13 | 5.2 | |||||||||
WMECO | 4 | 0.6 | 4 | 0.5 | |||||||||
Included in the Eversource 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 $35.4 million and $38.8 million as of March 31, 2015 and December 31, 2014, respectively, and relates primarily to the natural gas business segment. | |||||||||||||
B. Guarantees and Indemnifications | |||||||||||||
ES 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. | |||||||||||||
ES parent also issued a guaranty under which, beginning at the time the Northern Pass Transmission line goes into commercial operation, ES parent will guarantee the financial obligations of NPT under the TSA in an amount not to exceed $25 million. ES parent's obligations under the guaranty expire upon the full, final and indefeasible payment of the guaranteed obligations. | |||||||||||||
ES parent has also guaranteed certain indemnification and other obligations as a result of the sales of former unregulated subsidiaries and the termination of an unregulated business, with maximum exposures either not specified or not material. | |||||||||||||
Management does not anticipate a material impact to Net Income as a result of these various guarantees and indemnifications. | |||||||||||||
The following table summarizes ES parent's guarantees of its subsidiaries, including CL&P, NSTAR Electric, PSNH and WMECO, as of March 31, 2015: | |||||||||||||
Maximum Exposure | |||||||||||||
Company | Description | (in millions) | Expiration Dates | ||||||||||
Various | Surety Bonds (1) | $ | 54.6 | 2015 - 2016 | |||||||||
Eversource Service and Rocky River Realty Company | Lease Payments for Vehicles and Real Estate | $ | 13.8 | 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 ES parent to post collateral in the event that the unsecured debt credit ratings of Eversource are downgraded. | |||||||||||||
C. FERC ROE Complaints | |||||||||||||
Beginning in 2011, three separate complaints were filed at FERC by combinations of New England state attorneys general, state regulatory commissions, consumer advocates, consumer groups, municipal parties and other parties (the "Complainants"). 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 second and third complaints, filed in 2012 and 2014, the Complainants challenged the NETOs' base ROE and sought refunds for the 15-month periods beginning December 27, 2012 and July 31, 2014. | |||||||||||||
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, which was set at 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. The NETOs and the Complainants sought rehearing from FERC. In late 2014, the NETOs made a compliance filing, which was challenged by the Complainants, and the Company began refunding amounts from the first complaint period. | |||||||||||||
On March 3, 2015, FERC issued an order denying all issues raised on rehearing by the NETOs and Complainants in the first base ROE complaint. The FERC order upheld the base ROE of 10.57 percent for the first complaint refund period and prospectively from October 16, 2014, and upheld that the utility's total ROE (the base ROE plus any incentive adders) for the transmission assets to which the adder applies is capped at the top of the zone of reasonableness, which is currently set at 11.74 percent. As a result of clarifying information related to how the ROE cap is applied, which is contained in the order, Eversource adjusted its reserve in the first quarter of 2015 and recognized a pre-tax charge to earnings (excluding interest) of $20 million, of which $12.5 million was recorded at CL&P, $2.4 million at NSTAR Electric, $1 million at PSNH, and $4.1 million at WMECO. The pre-tax charge was recorded as a regulatory liability and as a reduction of Operating Revenues. | |||||||||||||
D. 2014 Comprehensive Settlement Agreement | |||||||||||||
On March 2, 2015, the DPU approved the comprehensive settlement agreement between NSTAR Electric, NSTAR Gas and the Massachusetts Attorney General (the "Settlement") as filed with the DPU on December 31, 2014. The Settlement resolved the outstanding NSTAR Electric CPSL program filings for 2006 through 2011, the NSTAR Electric and NSTAR Gas PAM and energy efficiency-related customer billing adjustments reported in 2012, and the recovery of LBR related to NSTAR Electric's energy efficiency programs for 2008 through 2011 (11 dockets in total). As a result, NSTAR Electric and NSTAR Gas will refund $42.5 million and $2.2 million, respectively, to customers. The refund was recorded as a regulatory liability as of March 31, 2015 and NSTAR Electric recognized a $21.7 million pre-tax benefit in the first quarter of 2015. | |||||||||||||
E. 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 February 2007, NSTAR Electric filed its 2005 through 2006 Basic Service reconciliation with the DPU proposing an adjustment related to the increase of its Basic Service bad debt charge-offs. In June 2007, the DPU approved NSTAR Electric's proposed adjustment to the Basic Service Adder but instructed NSTAR Electric to reduce distribution rates by an equal and offsetting amount. This adjustment to NSTAR Electric's distribution rates would have eliminated 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 took the position that it had fully removed the collection of energy-related bad debt costs from its base 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. | |||||||||||||
On January 7, 2015, the DPU issued an order concluding that NSTAR Electric had appropriately accounted for the removal of supply-related bad debt costs from base distribution rates effective January 1, 2006. The DPU ordered NSTAR Electric and the Massachusetts Attorney General to collaborate on the reconciliation of energy-related bad debt costs through 2014. During the second quarter of 2015, NSTAR Electric expects to file with the DPU to recover from customers approximately $43 million of supply-related bad debt costs. In the first quarter of 2015, as a result of the DPU order, NSTAR Electric increased its regulatory assets and reduced Operations and Maintenance expense by $24.2 million, resulting in an increase in after-tax earnings of $14.5 million. | |||||||||||||
F. PSNH Generation Restructuring | |||||||||||||
On March 11, 2015, PSNH and key New Hampshire officials entered into an agreement in principle in a settlement Term Sheet. Under the Term Sheet, PSNH has agreed to pursue the divestiture of its generation assets upon NHPUC approval of a final Settlement Agreement reflecting the provisions of the Term Sheet, and PSNH will not seek a general distribution rate increase that would become effective before July 1, 2017. PSNH will contribute $5 million to create a clean energy fund, which will not be recoverable from its customers, and will record this liability and related charge upon completion of the Settlement Agreement. | |||||||||||||
FAIR_VALUE_OF_FINANCIAL_INSTRU
FAIR VALUE OF FINANCIAL INSTRUMENTS | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||||||||||||||||
Fair Value Disclosures [Text Block] | 9. 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 March, 31, 2015 | As of December 31, 2014 | ||||||||||||||||||||||||
ES | ES | ||||||||||||||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||||||||||||||
(Millions of Dollars) | Amount | Value | Amount | Value | |||||||||||||||||||||
Preferred Stock Not Subject to Mandatory Redemption | $ | 155.6 | $ | 155.1 | $ | 155.6 | $ | 153.6 | |||||||||||||||||
Long-Term Debt | 8,847.70 | 9,553.10 | 8,851.60 | 9,451.20 | |||||||||||||||||||||
As of March 31, 2015 | |||||||||||||||||||||||||
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 | $ | 113 | $ | 43 | $ | 42.1 | $ | - | $ | - | $ | - | $ | - | |||||||||
Long-Term Debt | 2,842.10 | 3,260.40 | 1,797.40 | 2,022.10 | 1,076.30 | 1,156.40 | 628.2 | 674.4 | |||||||||||||||||
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 | |||||||||||||||||
Derivative Instruments: Derivative instruments are carried at fair value. For further information, see Note 4, "Derivative Instruments," to the financial statements. | |||||||||||||||||||||||||
Other Financial Instruments: Investments in marketable securities are carried at fair value. For further information, see Note 5, "Marketable Securities," to the financial statements. The carrying value of other financial instruments included in current assets and current liabilities, including cash and cash equivalents and special deposits, approximates their fair value due to the short-term nature of these instruments. | |||||||||||||||||||||||||
See Note 1D, "Summary of Significant Accounting Policies - Fair Value Measurements," for the fair value measurement policy and the fair value hierarchy. |
ACCUMULATED_OTHER_COMPREHENSIV
ACCUMULATED OTHER COMPREHENSIVE INCOME | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||||||||||||||||
Comprehensive Income Note [Text Block] | 10. ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) | ||||||||||||||||||||||||
The changes in accumulated other comprehensive income/(loss) by component, net of tax, is as follows: | |||||||||||||||||||||||||
For the Three Months Ended March 31, 2015 | For the Three Months Ended March 31, 2014 | ||||||||||||||||||||||||
Qualified | Unrealized | Qualified | Unrealized | ||||||||||||||||||||||
Cash Flow | Gains on | Defined | Cash Flow | Gains on | Defined | ||||||||||||||||||||
Hedging | Marketable | Benefit | Hedging | Marketable | Benefit | ||||||||||||||||||||
(Millions of Dollars) | Instruments | Securities | Plans | Total | Instruments | Securities | Plans | Total | |||||||||||||||||
Balance as of Beginning of Period | $ | -12.4 | $ | 0.7 | $ | -62.3 | $ | -74 | $ | -14.4 | $ | 0.4 | $ | -32 | $ | -46 | |||||||||
OCI Before Reclassifications | - | 0.1 | - | 0.1 | - | 0.2 | - | 0.2 | |||||||||||||||||
Amounts Reclassified from AOCI | 0.5 | - | 1 | 1.5 | 0.5 | - | 1 | 1.5 | |||||||||||||||||
Net OCI | 0.5 | 0.1 | 1 | 1.6 | 0.5 | 0.2 | 1 | 1.7 | |||||||||||||||||
Balance as of End of Period | $ | -11.9 | $ | 0.8 | $ | -61.3 | $ | -72.4 | $ | -13.9 | $ | 0.6 | $ | -31 | $ | -44.3 | |||||||||
Eversource'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 amortization expense of actuarial gains and losses on the defined benefit plans is amortized from AOCI into Operations and Maintenance over the average future employee service period, and are reflected in amounts reclassified from AOCI. The related tax effects of the reclassification adjustments are not material to the financial statements for the three months ended March 31, 2015 and 2014. |
COMMON_SHARES
COMMON SHARES | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||
Schedule of Stock by Class [Text Block] | 11. COMMON SHARES | ||||||||
The following table sets forth the ES parent common shares and the shares of common stock of CL&P, NSTAR Electric, PSNH and WMECO that were authorized and issued and the respective per share par values: | |||||||||
Shares | |||||||||
Authorized as of | |||||||||
Per Share | March 31, 2015 and | Issued as of | |||||||
Par Value | 31-Dec-14 | 31-Mar-15 | 31-Dec-14 | ||||||
ES | $ | 5 | 380,000,000 | 333,607,844 | 333,359,172 | ||||
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 March 31, 2015 and December 31, 2014, there were 16,138,845 and 16,375,835 Eversource common shares held as treasury shares, respectively. As of March 31, 2015 and December 31, 2014, Eversource common shares outstanding were 317,468,999 and 316,983,337, respectively. |
COMMON_SHARESHOLDERS_EQUITY_AN
COMMON SHARESHOLDERS' EQUITY AND NONCONTROLLING INTERESTS (NU) | 3 Months Ended |
Mar. 31, 2015 | |
Notes To Consolidated Financial Statements [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | 12. COMMON SHAREHOLDERS' EQUITY AND NONCONTROLLING INTERESTS |
For the three months ended March 31, 2015 and 2014, there were dividends on the preferred stock of CL&P and NSTAR Electric of $1.9 million, which were presented as Net Income Attributable to Noncontrolling Interests on the Eversource statements of income. Common Shareholders' Equity was fully attributable to the parent and Noncontrolling Interest – Preferred Stock of Subsidiaries was fully attributable to the noncontrolling interest on the Eversource balance sheets. |
EARNINGS_PER_SHARE
EARNINGS PER SHARE | 3 Months Ended | ||||||
Mar. 31, 2015 | |||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||
Earnings Per Share [Text Block] | 13. 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 three months ended March 31, 2015 and 2014, there were no antidilutive share awards excluded from the computation. | |||||||
The following table sets forth the components of basic and diluted EPS: | |||||||
For the Three Months Ended | |||||||
(Millions of Dollars, except share information) | 31-Mar-15 | 31-Mar-14 | |||||
Net Income Attributable to Controlling Interest | $ | 253.3 | $ | 236 | |||
Weighted Average Common Shares Outstanding: | |||||||
Basic | 317,090,841 | 315,534,512 | |||||
Dilutive Effect | 1,400,347 | 1,357,607 | |||||
Diluted | 318,491,188 | 316,892,119 | |||||
Basic EPS | $ | 0.8 | $ | 0.75 | |||
Diluted EPS | $ | 0.8 | $ | 0.74 | |||
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 | 3 Months Ended | ||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||||||||||
Segment Reporting Disclosure [Text Block] | 14. SEGMENT INFORMATION | ||||||||||||||||||
Presentation: Eversource 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 Eversource's total consolidated revenues for the three months ended March 31, 2015 and 2014. 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 Eversource's operations is presented as Other in the tables below and primarily consists of 1) the equity in earnings of ES parent from its subsidiaries and intercompany interest income, both of which are eliminated in consolidation, and interest expense related to the debt of ES parent, 2) the revenues and expenses of Eversource Service, most of which are eliminated in consolidation, 3) the operations of CYAPC and YAEC, and 4) the results of other unregulated subsidiaries, which are not part of its core business. | |||||||||||||||||||
Cash flows used for investments in plant included in the segment information below are cash capital expenditures that do not include amounts incurred but not paid, cost of removal, AFUDC related to equity funds, and the capitalized portions of pension expense. | |||||||||||||||||||
Eversource's reportable segments are determined based upon the level at which Eversource's chief operating decision maker assesses performance and makes decisions about the allocation of company resources. Each of Eversource's subsidiaries, including CL&P, NSTAR Electric, PSNH and WMECO, has one reportable segment. Eversource's operating segments and reporting units are consistent with its reportable business segments. | |||||||||||||||||||
Eversource's segment information is as follows: | |||||||||||||||||||
For the Three Months Ended March 31, 2015 | |||||||||||||||||||
Electric | Natural Gas | ||||||||||||||||||
(Millions of Dollars) | Distribution | Distribution | Transmission | Other | Eliminations | Total | |||||||||||||
Operating Revenues | $ | 1,760.10 | $ | 507.4 | $ | 249 | $ | 240 | $ | -243.1 | $ | 2,513.40 | |||||||
Depreciation and Amortization | -159.1 | -18.2 | -40.4 | -7.2 | 0.5 | -224.4 | |||||||||||||
Other Operating Expenses | -1,342.80 | -388.5 | -74.1 | -229.2 | 243.1 | -1,791.50 | |||||||||||||
Operating Income | 258.2 | 100.7 | 134.5 | 3.6 | 0.5 | 497.5 | |||||||||||||
Interest Expense | -47.6 | -9 | -27.6 | -11.8 | 1.2 | -94.8 | |||||||||||||
Other Income/(Loss), Net | 2.2 | -0.2 | 2.9 | 314.9 | -314.1 | 5.7 | |||||||||||||
Net Income Attributable to Controlling Interest | $ | 130.6 | $ | 55.6 | $ | 66.6 | $ | 312.9 | $ | -312.4 | $ | 253.3 | |||||||
Cash Flows Used for Investments in Plant | $ | 172.5 | $ | 30 | $ | 150 | $ | 10.1 | $ | - | $ | 362.6 | |||||||
For the Three Months Ended March 31, 2014 | |||||||||||||||||||
Electric | Natural Gas | ||||||||||||||||||
(Millions of Dollars) | Distribution | Distribution | Transmission | Other | Eliminations | Total | |||||||||||||
Operating Revenues | $ | 1,585.90 | $ | 432.8 | $ | 252.1 | $ | 172.2 | $ | -152.4 | $ | 2,290.60 | |||||||
Depreciation and Amortization | -148.8 | -17.7 | -37 | -7 | 1.8 | -208.7 | |||||||||||||
Other Operating Expenses | -1,210.90 | -321.4 | -66.4 | -165.4 | 149.9 | -1,614.20 | |||||||||||||
Operating Income/(Loss) | 226.2 | 93.7 | 148.7 | -0.2 | -0.7 | 467.7 | |||||||||||||
Interest Expense | -47.4 | -8.5 | -25.5 | -9.6 | 1 | -90 | |||||||||||||
Other Income, Net | 1.4 | 0.1 | 1.5 | 294.8 | -296.1 | 1.7 | |||||||||||||
Net Income Attributable to Controlling Interest | $ | 112.2 | $ | 52.1 | $ | 74.9 | $ | 291.7 | $ | -294.9 | $ | 236 | |||||||
Cash Flows Used for Investments in Plant | $ | 189.4 | $ | 28.9 | $ | 112.2 | $ | 18.2 | $ | - | $ | 348.7 | |||||||
The following table summarizes Eversource's segmented total assets: | |||||||||||||||||||
Electric | Natural Gas | ||||||||||||||||||
(Millions of Dollars) | Distribution | Distribution | Transmission | Other | Eliminations | Total | |||||||||||||
As of March 31, 2015 | $ | 17,930.20 | $ | 3,008.50 | $ | 7,503.10 | $ | 12,874.10 | $ | -11,364.10 | $ | 29,951.80 | |||||||
As of December 31, 2014 | 17,563.40 | 3,030.90 | 7,625.60 | 12,682.50 | -11,124.40 | 29,778.00 |
SIGNIFCANT_ACCOUNTING_POLICIES
SIGNIFCANT ACCOUNTING POLICIES (Policies) | 3 Months Ended |
Mar. 31, 2015 | |
Notes To Consolidated Financial Statements [Abstract] | |
Organization Consolidation And Presentation Of Financial Statements Disclosure Text Block | A. Basis of Presentation |
Eversource Energy is a public utility holding company primarily engaged through its wholly owned regulated utility subsidiaries in the energy delivery business. Eversource Energy's wholly owned regulated utility subsidiaries consist of CL&P, NSTAR Electric, PSNH, WMECO, Yankee Gas and NSTAR Gas. Eversource 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 April 29, 2015, the Company's name was changed from Northeast Utilities to Eversource Energy. CL&P, NSTAR Electric, PSNH and WMECO operate under the brand Eversource Energy. | |
The unaudited condensed consolidated financial statements of Eversource, NSTAR Electric and PSNH include the accounts of each of their respective subsidiaries. Intercompany transactions have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements of Eversource, NSTAR Electric and PSNH and the unaudited condensed financial statements of CL&P and WMECO are herein collectively referred to as the "financial statements." | |
The combined notes to the financial statements have been prepared pursuant to the rules and regulations of the SEC. Certain information and footnote disclosures included in annual financial statements prepared in accordance with GAAP have been omitted pursuant to such rules and regulations. The accompanying financial statements should be read in conjunction with the entirety of this combined Quarterly Report on Form 10-Q and the 2014 combined Annual Report on Form 10-K of Eversource, CL&P, NSTAR Electric, PSNH and WMECO, which was filed with the SEC. The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |
The financial statements contain, in the opinion of management, all adjustments (including normal, recurring adjustments) necessary to present fairly Eversource's, CL&P's, NSTAR Electric's, PSNH's and WMECO's financial position as of March 31, 2015 and December 31, 2014, and the results of operations, comprehensive income and cash flows for the three months ended March 31, 2015 and 2014. The results of operations, comprehensive income and cash flows for the three months ended March 31, 2015 and 2014 are not necessarily indicative of the results expected for a full year. | |
Eversource 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 Eversource financial statements. | |
Eversource's utility subsidiaries' distribution (including generation) and transmission businesses and NPT are subject to rate-regulation that is based on cost recovery and meets the criteria for application of accounting guidance for entities with rate-regulated operations, which considers the effect of regulation on the differences in the timing of the recognition of certain revenues and expenses from those of other businesses and industries. See Note 2, "Regulatory Accounting," for further information. | |
Certain reclassifications of prior period data were made in the accompanying financial statements to conform to the current period presentation. | |
Receivables Policy Text Block | Eversource, 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. |
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 | 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, Eversource 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. Eversource evaluates the classification of assets and liabilities measured at fair value on a quarterly basis, and Eversource'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. | |
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 methods and assumptions were used to estimate the fair value of each of the following financial instruments: | |
Preferred Stock and Long-Term Debt: The fair value of CL&P's and NSTAR Electric's preferred stock is based upon pricing models that incorporate interest rates and other market factors, valuations or trades of similar securities and cash flow projections. The fair value of long-term debt securities is based upon pricing models that incorporate quoted market prices for those issues or similar issues adjusted for market conditions, credit ratings of the respective companies and treasury benchmark yields. The fair values provided in the tables below are classified as Level 2 within the fair value hierarchy. | |
Other Taxes Policy | Gross receipts taxes levied by the state of Connecticut are collected by CL&P and Yankee Gas from their respective customers. These gross receipts taxes are shown on a gross basis with collections in Operating Revenues and payments in Taxes Other Than Income Taxes on the statements of income Certain sales taxes are collected by Eversource'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 | Eversource's Regulated companies are subject to rate-regulation that is based on cost recovery and meets the criteria for application of accounting guidance for entities with rate-regulated operations and reflect the effects of the rate-making process. The rates charged to the customers of Eversource's Regulated companies are designed to collect each company's costs to provide service, including a return on investment. |
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 | 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 settlement amounts are recovered from, or refunded to, customers in their respective energy supply rates. | |
Marketable Securities Policy | 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: Eversource, 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. Eversource, CL&P, NSTAR Electric, PSNH and WMECO have an active environmental auditing and training program and believe that they are substantially in compliance with all enacted laws and regulations. | |
Earnings Per Share Policy Text Block | Basic EPS is computed based upon the weighted average number of common shares outstanding during each period. Diluted EPS is computed on the basis of the weighted average number of common shares outstanding plus the potential dilutive effect of certain share-based compensation awards as if they were converted into common shares. |
RSUs and performance shares are included in basic weighted average common shares outstanding as of the date that all necessary vesting conditions have been satisfied. The dilutive effect of unvested RSUs and performance shares is calculated using the treasury stock method. Assumed proceeds of these units under the treasury stock method consist of the remaining compensation cost to be recognized and a theoretical tax benefit. The theoretical tax benefit is calculated as the tax impact of the intrinsic value of the units (the difference between the market value of the average units outstanding for the period, using the average market price during the period, and the grant date market value). | |
The dilutive effect of stock options to purchase common shares is also calculated using the treasury stock method. Assumed proceeds for stock options consist of cash proceeds that would be received upon exercise, and a theoretical tax benefit. The theoretical tax benefit is calculated as the tax impact of the intrinsic value of the stock options (the difference between the market value of the average stock options outstanding for the period, using the average market price during the period, and the exercise price). | |
Segment Reporting Policy Policy Text Block | SEGMENT INFORMATION |
Presentation: Eversource 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 Eversource's total consolidated revenues for the three months ended March 31, 2015 and 2014. 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 Eversource's operations is presented as Other in the tables below and primarily consists of 1) the equity in earnings of ES parent from its subsidiaries and intercompany interest income, both of which are eliminated in consolidation, and interest expense related to the debt of ES parent, 2) the revenues and expenses of Eversource Service, most of which are eliminated in consolidation, 3) the operations of CYAPC and YAEC, and 4) the results of other unregulated subsidiaries, which are not part of its core business. | |
Cash flows used for investments in plant included in the segment information below are cash capital expenditures that do not include amounts incurred but not paid, cost of removal, AFUDC related to equity funds, and the capitalized portions of pension expense. | |
Provision_for_Uncollectible_Ac
Provision for Uncollectible Accounts (Tables) | 3 Months Ended | |||||||||||||
Mar. 31, 2015 | ||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ||||||||||||||
Schedule Of Accounts Notes Loans And Financing Receivable Text Block | Total Provision for Uncollectible Accounts | Uncollectible Hardship | ||||||||||||
(Millions of Dollars) | As of March 31, 2015 | As of December 31, 2014 | As of March 31, 2015 | As of December 31, 2014 | ||||||||||
ES | $ | 187.4 | $ | 175.3 | $ | 92.3 | $ | 91.5 | ||||||
CL&P | 86.6 | 84.3 | 74.5 | 74 | ||||||||||
NSTAR Electric | 43.8 | 40.7 | - | - | ||||||||||
PSNH | 8.1 | 7.7 | - | - | ||||||||||
WMECO | 10.7 | 9.9 | 6.5 | 6.2 |
Other_Taxes_Tables
Other Taxes (Tables) | 3 Months Ended | |||||
Mar. 31, 2015 | ||||||
Notes To Consolidated Financial Statements [Abstract] | ||||||
State Of Connecticut Gross Earnings Taxes [Table Text Block] | For the Three Months Ended | |||||
(Millions of Dollars) | 31-Mar-15 | 31-Mar-14 | ||||
ES | $ | 41.9 | $ | 44.4 | ||
CL&P | 33 | 35.6 |
Supplemental_Cash_Flow_Informa
Supplemental Cash Flow Information (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | G. | Supplemental Cash Flow Information | |||||||
Non-cash investing activities include plant additions included in Accounts Payable as follows: | |||||||||
(Millions of Dollars) | As of March 31, 2015 | As of March 31, 2014 | |||||||
ES | $ | 110.4 | $ | 108.5 | |||||
CL&P | 42.3 | 36.2 | |||||||
NSTAR Electric | 21.9 | 28 | |||||||
PSNH | 21.7 | 14.4 | |||||||
WMECO | 8.3 | 14.4 |
REGULATORY_ACCOUNTING_Tables
REGULATORY ACCOUNTING (Tables) | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||||||||||||||||
Schedule Of Regulatory Assets Text Block | As of March 31, 2015 | As of December 31, 2014 | |||||||||||||||||||||||
(Millions of Dollars) | ES | ES | |||||||||||||||||||||||
Benefit Costs | $ | 1,976.60 | $ | 2,016.00 | |||||||||||||||||||||
Derivative Liabilities | 410.2 | 425.5 | |||||||||||||||||||||||
Income Taxes, Net | 632.1 | 635.3 | |||||||||||||||||||||||
Storm Restoration Costs | 504.8 | 502.8 | |||||||||||||||||||||||
Goodwill-related | 500.2 | 505.4 | |||||||||||||||||||||||
Regulatory Tracker Mechanisms | 434.5 | 350.5 | |||||||||||||||||||||||
Contractual Obligations - Yankee Companies | 119 | 123.8 | |||||||||||||||||||||||
Other Regulatory Assets | 151.4 | 167.3 | |||||||||||||||||||||||
Total Regulatory Assets | 4,728.80 | 4,726.60 | |||||||||||||||||||||||
Less: Current Portion | 747.3 | 672.5 | |||||||||||||||||||||||
Total Long-Term Regulatory Assets | $ | 3,981.50 | $ | 4,054.10 | |||||||||||||||||||||
As of March 31, 2015 | As of December 31, 2014 | ||||||||||||||||||||||||
NSTAR | NSTAR | ||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | |||||||||||||||||
Benefit Costs | $ | 436.7 | $ | 505.6 | $ | 171.2 | $ | 83.3 | $ | 445.4 | $ | 515.9 | $ | 174.3 | $ | 85 | |||||||||
Derivative Liabilities | 403.3 | 3.5 | - | - | 410.9 | 4.5 | - | - | |||||||||||||||||
Income Taxes, Net | 438.7 | 83.7 | 36.8 | 31.2 | 437.7 | 83.7 | 38 | 35.5 | |||||||||||||||||
Storm Restoration Costs | 308.5 | 119.7 | 46.9 | 29.7 | 319.6 | 103.7 | 47.7 | 31.8 | |||||||||||||||||
Goodwill-related | - | 429.5 | - | - | - | 433.9 | - | - | |||||||||||||||||
Regulatory Tracker Mechanisms | 10.1 | 261.2 | 93.4 | 47.6 | 16.1 | 141.4 | 103.5 | 33 | |||||||||||||||||
Other Regulatory Assets | 66.5 | 85 | 38.9 | 12.8 | 66.1 | 94.7 | 41.3 | 12.9 | |||||||||||||||||
Total Regulatory Assets | 1,663.80 | 1,488.20 | 387.2 | 204.6 | 1,695.80 | 1,377.80 | 404.8 | 198.2 | |||||||||||||||||
Less: Current Portion | 209.6 | 309.5 | 100 | 66.7 | 220.3 | 198.7 | 111.7 | 51.9 | |||||||||||||||||
Total Long-Term Regulatory Assets | $ | 1,454.20 | $ | 1,178.70 | $ | 287.2 | $ | 137.9 | $ | 1,475.50 | $ | 1,179.10 | $ | 293.1 | $ | 146.3 | |||||||||
Schedule Of Regulatory Liabilities Text Block | As of March 31, 2015 | As of December 31, 2014 | |||||||||||||||||||||||
(Millions of Dollars) | ES | ES | |||||||||||||||||||||||
Cost of Removal | $ | 452.8 | $ | 439.9 | |||||||||||||||||||||
Regulatory Tracker Mechanisms | 183.3 | 192.3 | |||||||||||||||||||||||
AFUDC - Transmission | 67.1 | 67.1 | |||||||||||||||||||||||
Other Regulatory Liabilities | 22.9 | 50.8 | |||||||||||||||||||||||
Total Regulatory Liabilities | 726.1 | 750.1 | |||||||||||||||||||||||
Less: Current Portion | 201.2 | 235 | |||||||||||||||||||||||
Total Long-Term Regulatory Liabilities | $ | 524.9 | $ | 515.1 | |||||||||||||||||||||
As of March 31, 2015 | As of December 31, 2014 | ||||||||||||||||||||||||
NSTAR | NSTAR | ||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | |||||||||||||||||
Cost of Removal | $ | 23.1 | $ | 263.4 | $ | 51.3 | $ | 2.8 | $ | 19.7 | $ | 258.3 | $ | 50.3 | $ | 1.1 | |||||||||
Regulatory Tracker Mechanisms | 77.5 | 22.5 | 13.9 | 22.2 | 122.6 | 20.7 | 14.2 | 22.3 | |||||||||||||||||
AFUDC - Transmission | 53.3 | 4.7 | - | 9.1 | 53.6 | 4.4 | - | 9.1 | |||||||||||||||||
Other Regulatory Liabilities | 12.3 | 2.1 | 2.8 | 0.9 | 10.1 | 28.9 | 2.9 | 0.8 | |||||||||||||||||
Total Regulatory Liabilities | 166.2 | 292.7 | 68 | 35 | 206 | 312.3 | 67.4 | 33.3 | |||||||||||||||||
Less: Current Portion | 84.1 | 24.6 | 16.1 | 22.3 | 124.7 | 49.6 | 16 | 22.5 | |||||||||||||||||
Total Long-Term Regulatory Liabilities | $ | 82.1 | $ | 268.1 | $ | 51.9 | $ | 12.7 | $ | 81.3 | $ | 262.7 | $ | 51.4 | $ | 10.8 |
PROPERTY_PLANT_AND_ACCUMULATED1
PROPERTY, PLANT AND ACCUMULATED DEPRECIATION (Tables) | 3 Months Ended | |||||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ||||||||||||||||||||||||
Schedule of Public Utility Property, Plant, and Equipment [Text Block] | As of March 31, 2015 | As of December 31, 2014 | ||||||||||||||||||||||
(Millions of Dollars) | ES | ES | ||||||||||||||||||||||
Distribution - Electric | $ | 12,539.30 | $ | 12,495.20 | ||||||||||||||||||||
Distribution - Natural Gas | 2,584.80 | 2,595.40 | ||||||||||||||||||||||
Transmission | 6,959.40 | 6,930.70 | ||||||||||||||||||||||
Generation | 1,172.20 | 1,170.90 | ||||||||||||||||||||||
Electric and Natural Gas Utility | 23,255.70 | 23,192.20 | ||||||||||||||||||||||
Other (1) | 547.9 | 551.3 | ||||||||||||||||||||||
Property, Plant and Equipment, Gross | 23,803.60 | 23,743.50 | ||||||||||||||||||||||
Less: Accumulated Depreciation | ||||||||||||||||||||||||
Electric and Natural Gas Utility | -5,842.60 | -5,777.80 | ||||||||||||||||||||||
Other | -232.3 | -231.8 | ||||||||||||||||||||||
Total Accumulated Depreciation | -6,074.90 | -6,009.60 | ||||||||||||||||||||||
Property, Plant and Equipment, Net | 17,728.70 | 17,733.90 | ||||||||||||||||||||||
Construction Work in Progress | 1,082.00 | 913.1 | ||||||||||||||||||||||
Total Property, Plant and Equipment, Net | $ | 18,810.70 | $ | 18,647.00 | ||||||||||||||||||||
As of March 31, 2015 | As of December 31, 2014 | |||||||||||||||||||||||
NSTAR | NSTAR | |||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH | WMECO | CL&P | Electric | PSNH | WMECO | ||||||||||||||||
Distribution | $ | 5,180.00 | $ | 4,907.80 | $ | 1,704.10 | $ | 787.4 | $ | 5,158.80 | $ | 4,895.50 | $ | 1,696.70 | $ | 784.2 | ||||||||
Transmission | 3,274.70 | 1,950.60 | 794.6 | 891.9 | 3,274.00 | 1,928.50 | 789.7 | 891 | ||||||||||||||||
Generation | - | - | 1,137.80 | 34.4 | - | - | 1,136.50 | 34.4 | ||||||||||||||||
Property, Plant and Equipment, Gross | 8,454.70 | 6,858.40 | 3,636.50 | 1,713.70 | 8,432.80 | 6,824.00 | 3,622.90 | 1,709.60 | ||||||||||||||||
Less: Accumulated Depreciation | -1,950.70 | -1,783.60 | -1,105.70 | -303.3 | -1,928.00 | -1,761.40 | -1,090.00 | -297.4 | ||||||||||||||||
Property, Plant and Equipment, Net | 6,504.00 | 5,074.80 | 2,530.80 | 1,410.40 | 6,504.80 | 5,062.60 | 2,532.90 | 1,412.20 | ||||||||||||||||
Construction Work in Progress | 370.9 | 289.5 | 135.5 | 73.5 | 304.9 | 272.8 | 102.9 | 49.1 | ||||||||||||||||
Total Property, Plant and Equipment, Net | $ | 6,874.90 | $ | 5,364.30 | $ | 2,666.30 | $ | 1,483.90 | $ | 6,809.70 | $ | 5,335.40 | $ | 2,635.80 | $ | 1,461.30 |
DERIVATIVE_INSTRUMENTS_Tables
DERIVATIVE INSTRUMENTS (Tables) | 3 Months Ended | |||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | ||||||||||||||||||||
Schedule Of Derivative Instruments In Statement Of Financial Position Fair Value Text Block | ||||||||||||||||||||
As of March 31, 2015 | As of December 31, 2014 | |||||||||||||||||||
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 3: | ||||||||||||||||||||
ES | $ | 16 | $ | -6.6 | $ | 9.4 | $ | 16.2 | $ | -6.6 | $ | 9.6 | ||||||||
CL&P | 16 | -6.6 | 9.4 | 16.1 | -6.6 | 9.5 | ||||||||||||||
NSTAR Electric | - | - | - | 0.1 | - | 0.1 | ||||||||||||||
Long-Term Derivative Assets: | ||||||||||||||||||||
Level 3: | ||||||||||||||||||||
ES, CL&P | $ | 88.3 | $ | -17.8 | $ | 70.5 | $ | 93.5 | $ | -19.2 | $ | 74.3 | ||||||||
Current Derivative Liabilities: | ||||||||||||||||||||
Level 2: | ||||||||||||||||||||
ES | $ | -3.2 | $ | - | $ | -3.2 | $ | -9.8 | $ | - | $ | -9.8 | ||||||||
Level 3: | ||||||||||||||||||||
ES | -90.3 | - | -90.3 | -90 | - | -90 | ||||||||||||||
CL&P | -88.2 | - | -88.2 | -88.5 | - | -88.5 | ||||||||||||||
NSTAR Electric | -2.1 | - | -2.1 | -1.5 | - | -1.5 | ||||||||||||||
Long-Term Derivative Liabilities: | ||||||||||||||||||||
Level 2: | ||||||||||||||||||||
ES | $ | -0.2 | $ | - | $ | -0.2 | $ | -0.3 | $ | - | $ | -0.3 | ||||||||
Level 3: | ||||||||||||||||||||
ES | -396.4 | - | -396.4 | -409.3 | - | -409.3 | ||||||||||||||
CL&P | -395 | - | -395 | -406.2 | - | -406.2 | ||||||||||||||
NSTAR Electric | -1.4 | - | -1.4 | -3.1 | - | -3.1 | ||||||||||||||
Rollforward Of Net Derivative Asset Liabilities Valued Using Unobservable Inputs [Table Text Block] | For the Three Months Ended March 31, | |||||||||||||||||||
2015 | 2014 | |||||||||||||||||||
NSTAR | NSTAR | |||||||||||||||||||
(Millions of Dollars) | ES | CL&P | Electric | ES | CL&P | Electric | ||||||||||||||
Derivatives, Net: | ||||||||||||||||||||
Fair Value as of Beginning of Period | $ | -415.4 | $ | -410.9 | $ | -4.5 | $ | -635.2 | $ | -630.6 | $ | -7.3 | ||||||||
Net Realized/Unrealized Gains/(Losses) Included in Regulatory Assets and Liabilities | -12.1 | -12.1 | - | 49.2 | 52 | -0.1 | ||||||||||||||
Settlements | 20.7 | 19.7 | 1 | 21.7 | 21.6 | 0.1 | ||||||||||||||
Fair Value as of End of Period | $ | -406.8 | $ | -403.3 | $ | -3.5 | $ | -564.3 | $ | -557 | $ | -7.3 | ||||||||
Fairvalueinputsliabilitiesquantitativeinformationtabletextblock | As of March 31, 2015 | As of December 31, 2014 | ||||||||||||||||||
Range | Period Covered | Range | Period Covered | |||||||||||||||||
Energy Prices: | ||||||||||||||||||||
ES, CL&P | $ | 48 | per MWh | 2020 | $ | 52 | per MWh | 2020 | ||||||||||||
Capacity Prices: | ||||||||||||||||||||
ES | $ | 8.8 | - | 12.98 | per kW-Month | 2016 - 2026 | $ | 5.3 | - | 12.98 | per kW-Month | 2016 - 2026 | ||||||||
CL&P | $ | 11.13 | - | 12.98 | per kW-Month | 2019 - 2026 | $ | 11.08 | - | 12.98 | per kW-Month | 2018 - 2026 | ||||||||
NSTAR Electric | $ | 8.8 | - | 11.13 | per kW-Month | 2016 - 2019 | $ | 5.3 | - | 11.1 | per kW-Month | 2016 - 2019 | ||||||||
Forward Reserve: | ||||||||||||||||||||
ES, CL&P | $ | 5.8 | - | 9.5 | per kW-Month | 2015 - 2024 | $ | 5.8 | - | 9.5 | per kW-Month | 2015 - 2024 | ||||||||
REC Prices: | ||||||||||||||||||||
ES, NSTAR Electric | $ | 45 | - | 50 | per REC | 2015 - 2018 | $ | 38 | - | 56 | per REC | 2015 - 2018 |
MARKETABLE_SECURITIES_Tables
MARKETABLE SECURITIES (Tables) | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||||||||||||||||
Schedule Of Available For Sale Securities Reconciliation [Table TextBlock] | As of March 31, 2015 | As of December 31, 2014 | |||||||||||||||||||||||
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 | |||||||||||||||||
ES | |||||||||||||||||||||||||
Debt Securities (1) | $ | 318.2 | $ | 8.2 | $ | -0.1 | $ | 326.3 | $ | 313 | $ | 7.5 | $ | -0.3 | $ | 320.2 | |||||||||
Equity Securities (1) | 159.5 | 77 | - | 236.5 | 160.6 | 73.3 | - | 233.9 | |||||||||||||||||
WMECO | |||||||||||||||||||||||||
Debt Securities (2) | 58.2 | - | - | 58.2 | 58.2 | - | -0.1 | 58.1 | |||||||||||||||||
Investments Classified by Contractual Maturity Date [Table Text Block] | ES | WMECO | |||||||||||||||||||||||
Amortized | Amortized | ||||||||||||||||||||||||
(Millions of Dollars) | Cost | Fair Value | Cost | Fair Value | |||||||||||||||||||||
Less than one year (1) | $ | 59.9 | $ | 59.9 | $ | 33.2 | $ | 33.2 | |||||||||||||||||
One to five years | 83.3 | 83.8 | 21.3 | 21.3 | |||||||||||||||||||||
Six to ten years | 61.6 | 63.5 | 0.6 | 0.6 | |||||||||||||||||||||
Greater than ten years | 113.4 | 119.1 | 3.1 | 3.1 | |||||||||||||||||||||
Total Debt Securities | $ | 318.2 | $ | 326.3 | $ | 58.2 | $ | 58.2 | |||||||||||||||||
Fair Value Heirarchy [Table Text Block] | ES | WMECO | |||||||||||||||||||||||
(Millions of Dollars) | As of March 31, 2015 | As of December 31, 2014 | As of March 31, 2015 | As of December 31, 2014 | |||||||||||||||||||||
Level 1: | |||||||||||||||||||||||||
Mutual Funds and Equities | $ | 323.2 | $ | 319 | $ | - | $ | - | |||||||||||||||||
Money Market Funds | 32.9 | 24.9 | 10.5 | 4.3 | |||||||||||||||||||||
Total Level 1 | $ | 356.1 | $ | 343.9 | $ | 10.5 | $ | 4.3 | |||||||||||||||||
Level 2: | |||||||||||||||||||||||||
U.S. Government Issued Debt Securities (Agency and Treasury) | $ | 46 | $ | 51.3 | $ | - | $ | - | |||||||||||||||||
Corporate Debt Securities | 157.3 | 49.1 | 14.4 | 14.7 | |||||||||||||||||||||
Asset-Backed Debt Securities | 36.5 | 54.1 | 12.1 | 14.5 | |||||||||||||||||||||
Municipal Bonds | 31.9 | 116.3 | 12.9 | 13 | |||||||||||||||||||||
Other Fixed Income Securities | 21.7 | 24.5 | 8.3 | 11.6 | |||||||||||||||||||||
Total Level 2 | $ | 293.4 | $ | 295.3 | $ | 47.7 | $ | 53.8 | |||||||||||||||||
Total Marketable Securities | $ | 649.5 | $ | 639.2 | $ | 58.2 | $ | 58.1 |
Recovered_Sheet1
Pension Benefits and Postretirement Benefits Other Than Pensions (Tables) | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||||||||||||||||
Schedule Of Net Benefit Costs [Table Text Block] | Pension and SERP | ||||||||||||||||||||||||
For the Three Months Ended | |||||||||||||||||||||||||
31-Mar-15 | 31-Mar-14 | ||||||||||||||||||||||||
(Millions of Dollars) | ES (1) | ES | |||||||||||||||||||||||
Service Cost | $ | 23.2 | $ | 22.3 | |||||||||||||||||||||
Interest Cost | 56.6 | 56.6 | |||||||||||||||||||||||
Expected Return on Plan Assets | -84.3 | -77.7 | |||||||||||||||||||||||
Actuarial Loss | 38.9 | 33 | |||||||||||||||||||||||
Prior Service Cost | 0.9 | 1.1 | |||||||||||||||||||||||
Total Net Periodic Benefit Expense | $ | 35.3 | $ | 35.3 | |||||||||||||||||||||
Capitalized Pension Expense | $ | 9.6 | $ | 9.7 | |||||||||||||||||||||
PBOP | |||||||||||||||||||||||||
For the Three Months Ended | |||||||||||||||||||||||||
31-Mar-15 | 31-Mar-14 | ||||||||||||||||||||||||
(Millions of Dollars) | ES (1) | ES | |||||||||||||||||||||||
Service Cost | $ | 4.2 | $ | 3 | |||||||||||||||||||||
Interest Cost | 11.9 | 12.6 | |||||||||||||||||||||||
Expected Return on Plan Assets | -16.8 | -15.7 | |||||||||||||||||||||||
Actuarial Loss | 1.8 | 3 | |||||||||||||||||||||||
Prior Service Credit | -0.1 | -0.6 | |||||||||||||||||||||||
Total Net Periodic Benefit Expense | $ | 1 | $ | 2.3 | |||||||||||||||||||||
Capitalized PBOP Expense | $ | 0.2 | $ | 0.4 | |||||||||||||||||||||
Pension and SERP | |||||||||||||||||||||||||
For the Three Months Ended March 31, 2015 | For the Three Months Ended March 31, 2014 | ||||||||||||||||||||||||
NSTAR | NSTAR | ||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH (1) | WMECO | CL&P | Electric | PSNH | WMECO | |||||||||||||||||
Service Cost | $ | 6 | $ | 3.8 | $ | 2.9 | $ | 1.1 | $ | 5.2 | $ | 4.6 | $ | 2.8 | $ | 1 | |||||||||
Interest Cost | 12.7 | 10.2 | 5.9 | 2.5 | 13.3 | 10.2 | 6.5 | 2.7 | |||||||||||||||||
Expected Return on Plan Assets | -19.7 | -17.6 | -10 | -4.7 | -19.4 | -15.8 | -10.2 | -4.6 | |||||||||||||||||
Actuarial Loss | 8.2 | 9.6 | 3 | 1.6 | 9.1 | 5.8 | 3.3 | 1.9 | |||||||||||||||||
Prior Service Cost | 0.4 | - | 0.1 | 0.1 | 0.5 | - | 0.2 | 0.1 | |||||||||||||||||
Total Net Periodic Benefit Expense | $ | 7.6 | $ | 6 | $ | 1.9 | $ | 0.6 | $ | 8.7 | $ | 4.8 | $ | 2.6 | $ | 1.1 | |||||||||
Intercompany Allocations | $ | 6.4 | $ | 3.6 | $ | 1.7 | $ | 1.2 | $ | 6.8 | $ | 2.4 | $ | 1.9 | $ | 1.3 | |||||||||
Capitalized Pension Expense | $ | 4.3 | $ | 2.8 | $ | 0.8 | $ | 0.5 | $ | 4.9 | $ | 1.9 | $ | 0.9 | $ | 0.8 | |||||||||
PBOP | |||||||||||||||||||||||||
For the Three Months Ended March 31, 2015 | For the Three Months Ended March 31, 2014 | ||||||||||||||||||||||||
NSTAR | NSTAR | ||||||||||||||||||||||||
(Millions of Dollars) | CL&P | Electric | PSNH (1) | WMECO | CL&P | Electric | PSNH | WMECO | |||||||||||||||||
Service Cost | $ | 0.6 | $ | 1.3 | $ | 0.4 | $ | 0.1 | $ | 0.6 | $ | 0.7 | $ | 0.4 | $ | 0.1 | |||||||||
Interest Cost | 1.8 | 4.8 | 1 | 0.4 | 2.1 | 4.9 | 1.1 | 0.5 | |||||||||||||||||
Expected Return on Plan Assets | -2.8 | -6.8 | -1.5 | -0.6 | -2.7 | -6.4 | -1.4 | -0.6 | |||||||||||||||||
Actuarial Loss/(Gain) | 0.2 | 0.8 | 0.1 | - | 1.1 | -0.1 | 0.5 | 0.1 | |||||||||||||||||
Prior Service Credit | - | -0.1 | - | - | - | -0.5 | - | - | |||||||||||||||||
Total Net Periodic Benefit Expense/(Income) | $ | -0.2 | $ | - | $ | - | $ | -0.1 | $ | 1.1 | $ | -1.4 | $ | 0.6 | $ | 0.1 | |||||||||
Intercompany Allocations | $ | 0.5 | $ | 0.3 | $ | 0.1 | $ | 0.1 | $ | 1.1 | $ | 0.1 | $ | 0.3 | $ | 0.2 | |||||||||
Capitalized PBOP Expense/(Income) | $ | - | $ | 0.1 | $ | - | $ | - | $ | 0.5 | $ | -0.5 | $ | 0.2 | $ | 0.1 | |||||||||
(1) Amounts exclude approximately $1 million that represented deferred regulatory assets. |
Environmental_Matters_Tables
Environmental Matters (Tables) | 3 Months Ended | ||||||||||||
Mar. 31, 2015 | |||||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||||
Schedule Of Environmental Loss Contingencies By Site Text Block | As of March 31, 2015 | As of December 31, 2014 | |||||||||||
Reserve | Reserve | ||||||||||||
Number of Sites | (in millions) | Number of Sites | (in millions) | ||||||||||
ES | 65 | $ | 43.6 | 65 | $ | 43.3 | |||||||
CL&P | 16 | 5 | 16 | 3.8 | |||||||||
NSTAR Electric | 14 | 1.7 | 13 | 1.1 | |||||||||
PSNH | 12 | 3.4 | 13 | 5.2 | |||||||||
WMECO | 4 | 0.6 | 4 | 0.5 |
Guarantees_and_Indemnification
Guarantees and Indemnifications (Tables) | 3 Months Ended | |||||||||
Mar. 31, 2015 | ||||||||||
Notes To Consolidated Financial Statements [Abstract] | ||||||||||
Schedule Of Guarantee Obligations Text Block | Maximum Exposure | |||||||||
Company | Description | (in millions) | Expiration Dates | |||||||
Various | Surety Bonds (1) | $ | 54.6 | 2015 - 2016 | ||||||
Eversource Service and Rocky River Realty Company | Lease Payments for Vehicles and Real Estate | $ | 13.8 | 2019 and 2024 |
FAIR_VALUE_OF_FINANCIAL_INSTRU1
FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables) | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||||||||||||||||
Fair Value By Balance Sheet Grouping Text Block | As of March, 31, 2015 | As of December 31, 2014 | |||||||||||||||||||||||
ES | ES | ||||||||||||||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||||||||||||||
(Millions of Dollars) | Amount | Value | Amount | Value | |||||||||||||||||||||
Preferred Stock Not Subject to Mandatory Redemption | $ | 155.6 | $ | 155.1 | $ | 155.6 | $ | 153.6 | |||||||||||||||||
Long-Term Debt | 8,847.70 | 9,553.10 | 8,851.60 | 9,451.20 | |||||||||||||||||||||
As of March 31, 2015 | |||||||||||||||||||||||||
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 | $ | 113 | $ | 43 | $ | 42.1 | $ | - | $ | - | $ | - | $ | - | |||||||||
Long-Term Debt | 2,842.10 | 3,260.40 | 1,797.40 | 2,022.10 | 1,076.30 | 1,156.40 | 628.2 | 674.4 | |||||||||||||||||
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 |
ACCUMULATED_OTHER_COMPREHENSIV1
ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables) | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||||||||||||||||||
Schedule Of Accumulated Other Comprehensive Income Loss Table Text Block | For the Three Months Ended March 31, 2015 | For the Three Months Ended March 31, 2014 | |||||||||||||||||||||||
Qualified | Unrealized | Qualified | Unrealized | ||||||||||||||||||||||
Cash Flow | Gains on | Defined | Cash Flow | Gains on | Defined | ||||||||||||||||||||
Hedging | Marketable | Benefit | Hedging | Marketable | Benefit | ||||||||||||||||||||
(Millions of Dollars) | Instruments | Securities | Plans | Total | Instruments | Securities | Plans | Total | |||||||||||||||||
Balance as of Beginning of Period | $ | -12.4 | $ | 0.7 | $ | -62.3 | $ | -74 | $ | -14.4 | $ | 0.4 | $ | -32 | $ | -46 | |||||||||
OCI Before Reclassifications | - | 0.1 | - | 0.1 | - | 0.2 | - | 0.2 | |||||||||||||||||
Amounts Reclassified from AOCI | 0.5 | - | 1 | 1.5 | 0.5 | - | 1 | 1.5 | |||||||||||||||||
Net OCI | 0.5 | 0.1 | 1 | 1.6 | 0.5 | 0.2 | 1 | 1.7 | |||||||||||||||||
Balance as of End of Period | $ | -11.9 | $ | 0.8 | $ | -61.3 | $ | -72.4 | $ | -13.9 | $ | 0.6 | $ | -31 | $ | -44.3 |
COMMON_SHARES_Tables
COMMON SHARES (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||||
Schedule of Stock by Class [Text Block] | 11. COMMON SHARES | ||||||||
The following table sets forth the ES parent common shares and the shares of common stock of CL&P, NSTAR Electric, PSNH and WMECO that were authorized and issued and the respective per share par values: | |||||||||
Shares | |||||||||
Authorized as of | |||||||||
Per Share | March 31, 2015 and | Issued as of | |||||||
Par Value | 31-Dec-14 | 31-Mar-15 | 31-Dec-14 | ||||||
ES | $ | 5 | 380,000,000 | 333,607,844 | 333,359,172 | ||||
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 March 31, 2015 and December 31, 2014, there were 16,138,845 and 16,375,835 Eversource common shares held as treasury shares, respectively. As of March 31, 2015 and December 31, 2014, Eversource common shares outstanding were 317,468,999 and 316,983,337, respectively. |
EARNINGS_PER_SHARE_Tables
EARNINGS PER SHARE (Tables) | 3 Months Ended | ||||||
Mar. 31, 2015 | |||||||
Notes To Consolidated Financial Statements [Abstract] | |||||||
Schedule Of Earnings Per Share Basic And Diluted [Table Text Block] | For the Three Months Ended | ||||||
(Millions of Dollars, except share information) | 31-Mar-15 | 31-Mar-14 | |||||
Net Income Attributable to Controlling Interest | $ | 253.3 | $ | 236 | |||
Weighted Average Common Shares Outstanding: | |||||||
Basic | 317,090,841 | 315,534,512 | |||||
Dilutive Effect | 1,400,347 | 1,357,607 | |||||
Diluted | 318,491,188 | 316,892,119 | |||||
Basic EPS | $ | 0.8 | $ | 0.75 | |||
Diluted EPS | $ | 0.8 | $ | 0.74 |
SEGMENT_INFORMATION_Tables
SEGMENT INFORMATION (Tables) | 3 Months Ended | ||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||||||||
Schedule Of Segment Reporting Information By Segment Text Block | For the Three Months Ended March 31, 2015 | ||||||||||||||||||
Electric | Natural Gas | ||||||||||||||||||
(Millions of Dollars) | Distribution | Distribution | Transmission | Other | Eliminations | Total | |||||||||||||
Operating Revenues | $ | 1,760.10 | $ | 507.4 | $ | 249 | $ | 240 | $ | -243.1 | $ | 2,513.40 | |||||||
Depreciation and Amortization | -159.1 | -18.2 | -40.4 | -7.2 | 0.5 | -224.4 | |||||||||||||
Other Operating Expenses | -1,342.80 | -388.5 | -74.1 | -229.2 | 243.1 | -1,791.50 | |||||||||||||
Operating Income | 258.2 | 100.7 | 134.5 | 3.6 | 0.5 | 497.5 | |||||||||||||
Interest Expense | -47.6 | -9 | -27.6 | -11.8 | 1.2 | -94.8 | |||||||||||||
Other Income/(Loss), Net | 2.2 | -0.2 | 2.9 | 314.9 | -314.1 | 5.7 | |||||||||||||
Net Income Attributable to Controlling Interest | $ | 130.6 | $ | 55.6 | $ | 66.6 | $ | 312.9 | $ | -312.4 | $ | 253.3 | |||||||
Cash Flows Used for Investments in Plant | $ | 172.5 | $ | 30 | $ | 150 | $ | 10.1 | $ | - | $ | 362.6 | |||||||
For the Three Months Ended March 31, 2014 | |||||||||||||||||||
Electric | Natural Gas | ||||||||||||||||||
(Millions of Dollars) | Distribution | Distribution | Transmission | Other | Eliminations | Total | |||||||||||||
Operating Revenues | $ | 1,585.90 | $ | 432.8 | $ | 252.1 | $ | 172.2 | $ | -152.4 | $ | 2,290.60 | |||||||
Depreciation and Amortization | -148.8 | -17.7 | -37 | -7 | 1.8 | -208.7 | |||||||||||||
Other Operating Expenses | -1,210.90 | -321.4 | -66.4 | -165.4 | 149.9 | -1,614.20 | |||||||||||||
Operating Income/(Loss) | 226.2 | 93.7 | 148.7 | -0.2 | -0.7 | 467.7 | |||||||||||||
Interest Expense | -47.4 | -8.5 | -25.5 | -9.6 | 1 | -90 | |||||||||||||
Other Income, Net | 1.4 | 0.1 | 1.5 | 294.8 | -296.1 | 1.7 | |||||||||||||
Net Income Attributable to Controlling Interest | $ | 112.2 | $ | 52.1 | $ | 74.9 | $ | 291.7 | $ | -294.9 | $ | 236 | |||||||
Cash Flows Used for Investments in Plant | $ | 189.4 | $ | 28.9 | $ | 112.2 | $ | 18.2 | $ | - | $ | 348.7 | |||||||
The following table summarizes Eversource's segmented total assets: | |||||||||||||||||||
Electric | Natural Gas | ||||||||||||||||||
(Millions of Dollars) | Distribution | Distribution | Transmission | Other | Eliminations | Total | |||||||||||||
As of March 31, 2015 | $ | 17,930.20 | $ | 3,008.50 | $ | 7,503.10 | $ | 12,874.10 | $ | -11,364.10 | $ | 29,951.80 | |||||||
As of December 31, 2014 | 17,563.40 | 3,030.90 | 7,625.60 | 12,682.50 | -11,124.40 | 29,778.00 |
Basis_of_Presentation_Details
Basis of Presentation (Details) | 3 Months Ended |
Mar. 31, 2015 | |
Description of Consolidation of Yankee Companies | Eversource 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 Eversource financial statements. |
Provision_for_Uncollectible_Ac1
Provision for Uncollectible Accounts (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, unless otherwise specified | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Allowance For Doubtful Accounts Receivable Current | $187.40 | $175.30 |
Uncollectible Hardship Accounts Receivable Reserve | 92.3 | 91.5 |
The Connecticut Light And Power Company [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Allowance For Doubtful Accounts Receivable Current | 86.6 | 84.3 |
Uncollectible Hardship Accounts Receivable Reserve | 74.5 | 74 |
NSTAR Electric Company [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Allowance For Doubtful Accounts Receivable Current | 43.8 | 40.7 |
Public Service Company Of New Hampshire [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Allowance For Doubtful Accounts Receivable Current | 8.1 | 7.7 |
Western Massachusetts Electric Company [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Allowance For Doubtful Accounts Receivable Current | 10.7 | 9.9 |
Uncollectible Hardship Accounts Receivable Reserve | $6.50 | $6.20 |
Other_Taxes_Details
Other Taxes (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Excise And Sales Taxes | $41.90 | $44.40 |
The Connecticut Light And Power Company [Member] | ||
Excise And Sales Taxes | $33 | $35.60 |
Supplemental_Cash_Flow_Informa1
Supplemental Cash Flow Information (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Capital Expenditures Incurred But Not Yet Paid | $110.40 | $108.50 |
The Connecticut Light And Power Company [Member] | ||
Capital Expenditures Incurred But Not Yet Paid | 42.3 | 36.2 |
NSTAR Electric Company [Member] | ||
Capital Expenditures Incurred But Not Yet Paid | 21.9 | 28 |
Public Service Company Of New Hampshire [Member] | ||
Capital Expenditures Incurred But Not Yet Paid | 21.7 | 14.4 |
Western Massachusetts Electric Company [Member] | ||
Capital Expenditures Incurred But Not Yet Paid | $8.30 | $14.40 |
Severance_Benefits_Details
Severance Benefits (Details) (USD $) | 3 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Notes To Consolidated Financial Statements [Abstract] | |||
Description Of Postemployment Benefits | Severance Benefits | ||
Postemployment Benefits Period Expense | $0.40 | $4.30 | |
Postemployment Benefits Liability Current | $9 | $10.40 |
REGULATORY_ACCOUNTING_Details
REGULATORY ACCOUNTING (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Dec. 31, 2014 | |
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | $4,728,800,000 | $4,726,600,000 |
Regulatory Assets Current | 747,349,000 | 672,493,000 |
Regulatory Assets Long Term | 3,981,507,000 | 4,054,086,000 |
Regulatory Assets And Liabilities Other Disclosures Abstract | ||
Amount of Regulatory Costs Not yet Approved | 49,300,000 | 60,500,000 |
Public Utilities Disclosure Of Regulatory Matters Pending | 2015 Regulatory Developments: As a result of the March 3, 2015 FERC order in the pending ROE complaint proceedings described in Note 8C, "Commitments and Contingencies – FERC ROE Complaints," in the first quarter of 2015, Eversource recognized a pre-tax charge to earnings (excluding interest) of $20 million, of which $12.5 million was recorded at CL&P, $2.4 million at NSTAR Electric, $1 million at PSNH, and $4.1 million at WMECO. The pre-tax charge was recorded as a regulatory liability and as a reduction of Operating Revenues. On March 2, 2015, the DPU approved the comprehensive settlement agreement between NSTAR Electric, NSTAR Gas and the Massachusetts Attorney General (the "Settlement") as filed with the DPU on December 31, 2014. The Settlement resolved the outstanding NSTAR Electric CPSL program filings for 2006 through 2011, the NSTAR Electric and NSTAR Gas PAM and energy efficiency-related customer billing adjustments reported in 2012, and the recovery of LBR related to NSTAR Electric's energy efficiency programs for 2008 through 2011 (11 dockets in total). As a result, NSTAR Electric and NSTAR Gas will refund a combined $44.7 million to customers. The refund was recorded as a regulatory liability as of March 31, 2015 and NSTAR Electric recognized a $21.7 million pre-tax benefit in the first quarter of 2015. For further information, see Note 8D, "Commitments and Contingencies – 2014 Comprehensive Settlement Agreement." On January 7, 2015, the DPU issued an order concluding that NSTAR Electric had appropriately accounted for the removal of supply-related bad debt costs from base distribution rates effective January 1, 2006. The DPU ordered NSTAR Electric and the Massachusetts Attorney General to collaborate on the reconciliation of energy-related bad debt costs through 2014. During the second quarter of 2015, NSTAR Electric expects to file with the DPU to recover from customers approximately $43 million of supply-related bad debt costs. In the first quarter of 2015, as a result of the DPU order, NSTAR Electric increased its regulatory assets and reduced Operations and Maintenance expense by $24.2 million, resulting in an increase in after-tax earnings of $14.5 million. For further information, see Note 8E, "Commitments and Contingencies – Basic Service Bad Debt Adder." | |
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 726,100,000 | 750,100,000 |
Regulatory Liability Current | 201,180,000 | 235,022,000 |
Regulatory Liabilities Long-Term | 524,940,000 | 515,144,000 |
Cost Of Removal [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 452,800,000 | 439,900,000 |
Regulatory Tracker Deferrals Regulatory Liabilities [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 183,300,000 | 192,300,000 |
AFUDC Transmission Incentive [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 67,100,000 | 67,100,000 |
Other Regulatory Liabilities [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 22,900,000 | 50,800,000 |
The Connecticut Light And Power Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 1,663,800,000 | 1,695,800,000 |
Regulatory Assets Current | 209,628,000 | 220,344,000 |
Regulatory Assets Long Term | 1,454,150,000 | 1,475,508,000 |
Regulatory Assets And Liabilities Other Disclosures Abstract | ||
Amount of Regulatory Costs Not yet Approved | 1,600,000 | 1,300,000 |
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 166,200,000 | 206,000,000 |
Regulatory Liability Current | 84,127,000 | 124,722,000 |
Regulatory Liabilities Long-Term | 82,110,000 | 81,298,000 |
The Connecticut Light And Power Company [Member] | Cost Of Removal [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 23,100,000 | 19,700,000 |
The Connecticut Light And Power Company [Member] | Regulatory Tracker Deferrals Regulatory Liabilities [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 77,500,000 | 122,600,000 |
The Connecticut Light And Power Company [Member] | AFUDC Transmission Incentive [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 53,300,000 | 53,600,000 |
The Connecticut Light And Power Company [Member] | Other Regulatory Liabilities [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 12,300,000 | 10,100,000 |
NSTAR Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 1,488,200,000 | 1,377,800,000 |
Regulatory Assets Current | 309,547,000 | 198,710,000 |
Regulatory Assets Long Term | 1,178,738,000 | 1,179,100,000 |
Regulatory Assets And Liabilities Other Disclosures Abstract | ||
Amount of Regulatory Costs Not yet Approved | 18,300,000 | 33,200,000 |
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 292,700,000 | 312,300,000 |
Regulatory Liability Current | 24,605,000 | 49,611,000 |
Regulatory Liabilities Long-Term | 268,122,000 | 262,738,000 |
NSTAR Electric Company [Member] | Cost Of Removal [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 263,400,000 | 258,300,000 |
NSTAR Electric Company [Member] | Regulatory Tracker Deferrals Regulatory Liabilities [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 22,500,000 | 20,700,000 |
NSTAR Electric Company [Member] | AFUDC Transmission Incentive [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 4,700,000 | 4,400,000 |
NSTAR Electric Company [Member] | Other Regulatory Liabilities [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 2,100,000 | 28,900,000 |
Public Service Company Of New Hampshire [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 387,200,000 | 404,800,000 |
Regulatory Assets Current | 99,994,000 | 111,705,000 |
Regulatory Assets Long Term | 287,203,000 | 293,115,000 |
Regulatory Assets And Liabilities Other Disclosures Abstract | ||
Amount of Regulatory Costs Not yet Approved | 400,000 | 900,000 |
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 68,000,000 | 67,400,000 |
Regulatory Liability Current | 16,102,000 | 16,044,000 |
Regulatory Liabilities Long-Term | 51,897,000 | 51,372,000 |
Public Service Company Of New Hampshire [Member] | Cost Of Removal [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 51,300,000 | 50,300,000 |
Public Service Company Of New Hampshire [Member] | Regulatory Tracker Deferrals Regulatory Liabilities [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 13,900,000 | 14,200,000 |
Public Service Company Of New Hampshire [Member] | Other Regulatory Liabilities [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 2,800,000 | 2,900,000 |
Western Massachusetts Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 204,600,000 | 198,200,000 |
Regulatory Assets Current | 66,706,000 | 51,923,000 |
Regulatory Assets Long Term | 137,894,000 | 146,307,000 |
Regulatory Assets And Liabilities Other Disclosures Abstract | ||
Amount of Regulatory Costs Not yet Approved | 11,800,000 | 11,000,000 |
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 35,000,000 | 33,300,000 |
Regulatory Liability Current | 22,289,000 | 22,486,000 |
Regulatory Liabilities Long-Term | 12,673,000 | 10,835,000 |
Western Massachusetts Electric Company [Member] | Cost Of Removal [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 2,800,000 | 1,100,000 |
Western Massachusetts Electric Company [Member] | Regulatory Tracker Deferrals Regulatory Liabilities [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 22,200,000 | 22,300,000 |
Western Massachusetts Electric Company [Member] | AFUDC Transmission Incentive [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 9,100,000 | 9,100,000 |
Western Massachusetts Electric Company [Member] | Other Regulatory Liabilities [Member] | ||
Regulatory Liabilities [Line Items] | ||
Regulatory Liabilities, Total | 900,000 | 800,000 |
Benefit Costs [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 1,976,600,000 | 2,016,000,000 |
Benefit Costs [Member] | The Connecticut Light And Power Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 436,700,000 | 445,400,000 |
Benefit Costs [Member] | NSTAR Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 505,600,000 | 515,900,000 |
Benefit Costs [Member] | Public Service Company Of New Hampshire [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 171,200,000 | 174,300,000 |
Benefit Costs [Member] | Western Massachusetts Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 83,300,000 | 85,000,000 |
Regulatory Assets Offsetting Derivative Liabilities [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 410,200,000 | 425,500,000 |
Regulatory Assets Offsetting Derivative Liabilities [Member] | The Connecticut Light And Power Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 403,300,000 | 410,900,000 |
Regulatory Assets Offsetting Derivative Liabilities [Member] | NSTAR Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 3,500,000 | 4,500,000 |
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 | 632,100,000 | 635,300,000 |
Deferred Income Tax Charges Member | The Connecticut Light And Power Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 438,700,000 | 437,700,000 |
Deferred Income Tax Charges Member | NSTAR Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 83,700,000 | 83,700,000 |
Deferred Income Tax Charges Member | Public Service Company Of New Hampshire [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 36,800,000 | 38,000,000 |
Deferred Income Tax Charges Member | Western Massachusetts Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 31,200,000 | 35,500,000 |
Storm Restoration Costs [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 504,800,000 | 502,800,000 |
Storm Restoration Costs [Member] | The Connecticut Light And Power Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 308,500,000 | 319,600,000 |
Storm Restoration Costs [Member] | NSTAR Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 119,700,000 | 103,700,000 |
Storm Restoration Costs [Member] | Public Service Company Of New Hampshire [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 46,900,000 | 47,700,000 |
Storm Restoration Costs [Member] | Western Massachusetts Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 29,700,000 | 31,800,000 |
Goodwill Regulatory Asset [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 500,200,000 | 505,400,000 |
Goodwill Regulatory Asset [Member] | NSTAR Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 429,500,000 | 433,900,000 |
Regulatory Tracker Deferrals Regulatory Assets [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 434,500,000 | 350,500,000 |
Regulatory Tracker Deferrals Regulatory Assets [Member] | The Connecticut Light And Power Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 10,100,000 | 16,100,000 |
Regulatory Tracker Deferrals Regulatory Assets [Member] | NSTAR Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 261,200,000 | 141,400,000 |
Regulatory Tracker Deferrals Regulatory Assets [Member] | Public Service Company Of New Hampshire [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 93,400,000 | 103,500,000 |
Regulatory Tracker Deferrals Regulatory Assets [Member] | Western Massachusetts Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 47,600,000 | 33,000,000 |
Unrecovered Contractual Obligations [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 119,000,000 | 123,800,000 |
Power Contracts Buy Out Agreements [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | ||
Power Contracts Buy Out Agreements [Member] | NSTAR Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | ||
Power Contracts Buy Out Agreements [Member] | Public Service Company Of New Hampshire [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | ||
Other Regulatory Assets [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 151,400,000 | 167,300,000 |
Other Regulatory Assets [Member] | The Connecticut Light And Power Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 66,500,000 | 66,100,000 |
Other Regulatory Assets [Member] | NSTAR Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 85,000,000 | 94,700,000 |
Other Regulatory Assets [Member] | Public Service Company Of New Hampshire [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | 38,900,000 | 41,300,000 |
Other Regulatory Assets [Member] | Western Massachusetts Electric Company [Member] | ||
Regulatory Asset [Line Items] | ||
Regulatory Assets, Total | $12,800,000 | $12,900,000 |
PROPERTY_PLANT_AND_ACCUMULATED2
PROPERTY, PLANT AND ACCUMULATED DEPRECIATION (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Public Utility Property Plant And Equipment [Line Items] | ||
Public Utilities Property Plant And Equipment Distribution | $12,539,300,000 | $12,495,200,000 |
Public Utilities Property Plant And Equipment Distribution Natural Gas | 2,584,800,000 | 2,595,400,000 |
Public Utilities Property Plant And Equipment Transmission | 6,959,400,000 | 6,930,700,000 |
Public Utilities Property Plant And Equipment Generation Or Processing | 1,172,200,000 | 1,170,900,000 |
Public Utilities Property Plant And Equipment Electric And Natural Gas Utility Total | 23,255,700,000 | 23,192,200,000 |
Public Utilities Property Plant And Equipment Other Property Plant And Equipment | 547,900,000 | 551,300,000 |
Public Utilities Property Plant And Equipment Plant In Service | 23,803,600,000 | 23,743,500,000 |
Electric And Natural Gas Utility Accumulated Depreciation | -5,842,600,000 | -5,777,800,000 |
Other Accumulated Depreciation | -232,300,000 | -231,800,000 |
Public Utilities, Property, Plant and Equipment, Accumulated Depreciation | -6,074,900,000 | -6,009,600,000 |
Property Plant And Equipment Net Excluding Construction Work In Progress | 17,728,700,000 | 17,733,900,000 |
Public Utilities Property Plant And Equipment Construction Work In Progress | 1,082,000,000 | 913,100,000 |
Property, Plant and Equipment, Net | 18,810,708,000 | 18,647,041,000 |
The Connecticut Light And Power Company [Member] | ||
Public Utility Property Plant And Equipment [Line Items] | ||
Public Utilities Property Plant And Equipment Distribution | 5,180,000,000 | 5,158,800,000 |
Public Utilities Property Plant And Equipment Transmission | 3,274,700,000 | 3,274,000,000 |
Public Utilities Property Plant And Equipment Generation Or Processing | 0 | 0 |
Public Utilities Property Plant And Equipment Plant In Service | 8,454,700,000 | 8,432,800,000 |
Public Utilities, Property, Plant and Equipment, Accumulated Depreciation | -1,950,700,000 | -1,928,000,000 |
Property Plant And Equipment Net Excluding Construction Work In Progress | 6,504,000,000 | 6,504,800,000 |
Public Utilities Property Plant And Equipment Construction Work In Progress | 370,900,000 | 304,900,000 |
Property, Plant and Equipment, Net | 6,874,891,000 | 6,809,664,000 |
NSTAR Electric Company [Member] | ||
Public Utility Property Plant And Equipment [Line Items] | ||
Public Utilities Property Plant And Equipment Distribution | 4,907,800,000 | 4,895,500,000 |
Public Utilities Property Plant And Equipment Transmission | 1,950,600,000 | 1,928,500,000 |
Public Utilities Property Plant And Equipment Generation Or Processing | 0 | 0 |
Public Utilities Property Plant And Equipment Plant In Service | 6,858,400,000 | 6,824,000,000 |
Public Utilities, Property, Plant and Equipment, Accumulated Depreciation | -1,783,600,000 | -1,761,400,000 |
Property Plant And Equipment Net Excluding Construction Work In Progress | 5,074,800,000 | 5,062,600,000 |
Public Utilities Property Plant And Equipment Construction Work In Progress | 289,500,000 | 272,800,000 |
Property, Plant and Equipment, Net | 5,364,311,000 | 5,335,436,000 |
Public Service Company Of New Hampshire [Member] | ||
Public Utility Property Plant And Equipment [Line Items] | ||
Public Utilities Property Plant And Equipment Distribution | 1,704,100,000 | 1,696,700,000 |
Public Utilities Property Plant And Equipment Transmission | 794,600,000 | 789,700,000 |
Public Utilities Property Plant And Equipment Generation Or Processing | 1,137,800,000 | 1,136,500,000 |
Public Utilities Property Plant And Equipment Plant In Service | 3,636,500,000 | 3,622,900,000 |
Public Utilities, Property, Plant and Equipment, Accumulated Depreciation | -1,105,700,000 | -1,090,000,000 |
Property Plant And Equipment Net Excluding Construction Work In Progress | 2,530,800,000 | 2,532,900,000 |
Public Utilities Property Plant And Equipment Construction Work In Progress | 135,500,000 | 102,900,000 |
Property, Plant and Equipment, Net | 2,666,312,000 | 2,635,844,000 |
Public Service Company Of New Hampshire [Member] | Generation Plant [Member] | ||
Public Utility Property Plant And Equipment [Line Items] | ||
Electric And Natural Gas Utility Accumulated Depreciation | -497,100,000 | |
Western Massachusetts Electric Company [Member] | ||
Public Utility Property Plant And Equipment [Line Items] | ||
Public Utilities Property Plant And Equipment Distribution | 787,400,000 | 784,200,000 |
Public Utilities Property Plant And Equipment Transmission | 891,900,000 | 891,000,000 |
Public Utilities Property Plant And Equipment Generation Or Processing | 34,400,000 | 34,400,000 |
Public Utilities Property Plant And Equipment Plant In Service | 1,713,700,000 | 1,709,600,000 |
Public Utilities, Property, Plant and Equipment, Accumulated Depreciation | -303,300,000 | -297,400,000 |
Property Plant And Equipment Net Excluding Construction Work In Progress | 1,410,400,000 | 1,412,200,000 |
Public Utilities Property Plant And Equipment Construction Work In Progress | 73,500,000 | 49,100,000 |
Property, Plant and Equipment, Net | $1,483,895,000 | $1,461,321,000 |
DERIVATIVE_INSTURMENTS_Details
DERIVATIVE INSTURMENTS (Details) (USD $) | 3 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | |
Derivative Instrument Detail Abstract | |||
Derivative Liabilities, Noncurrent | ($396,617,000) | ($409,632,000) | |
Other Derivatives Not Designated As Hedging Instruments At Fair Value Net Total Abstract | |||
Description of Derivative Activity Volume | 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 March 31, 2015 and December 31, 2014, Eversource had NYMEX financial contracts for natural gas futures in order to reduce variability associated with the purchase price of approximately 5.3 million and 8.8 million MMBtu of natural gas, respectively. | ||
Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net Abstract | |||
Derivative Instruments Gain Loss Recognized In Regulatory Asset Liability | -16,600,000 | 54,100,000 | |
Derivative Credit Risk Related Contingent Features Abstract | |||
Derivative Net Liability Position Aggregate Fair Value | -3,000,000 | -10,000,000 | |
Additional Collateral Aggregate Fair Value | 3,000,000 | 10,000,000 | |
The Connecticut Light And Power Company [Member] | |||
Derivative Instrument Detail Abstract | |||
Derivative Liabilities - Current | -88,218,000 | -88,459,000 | |
Derivative Liabilities, Noncurrent | -395,038,000 | -406,199,000 | |
Other Derivatives Not Designated As Hedging Instruments At Fair Value Net Total Abstract | |||
Description of Derivative Activity Volume | 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 Company [Member] | |||
Other Derivatives Not Designated As Hedging Instruments At Fair Value Net Total Abstract | |||
Description of Derivative Activity Volume | NSTAR Electric has a renewable energy contract to purchase 0.1 million MWh of energy per year through 2018 and a capacity-related contract to purchase up to 35 MW per year through 2019. | ||
Fair Value Inputs Level 2 [Member] | |||
Derivative Instrument Detail Abstract | |||
Derivative Liabilities - Current | -3,200,000 | -9,800,000 | |
Derivative Liabilities, Noncurrent | -200,000 | -300,000 | |
Fair Value Inputs Level 3 [Member] | |||
Derivative Instrument Detail Abstract | |||
Derivative Assets - Current | 9,400,000 | 9,600,000 | |
Derivative Liabilities - Current | -90,300,000 | -90,000,000 | |
Derivative Liabilities, Noncurrent | -396,400,000 | -409,300,000 | |
Derivative Assets Noncurrent | 70,500,000 | 74,300,000 | |
FairValueInputsQuantitativeInformation[Abstract] | |||
FairValueInputsEnergyPrices | 48 | 52 | |
Fair Value Inputs Level 3 [Member] | MinimumMember | |||
FairValueInputsQuantitativeInformation[Abstract] | |||
FairValueInputsCapacityPrices | 8.8 | 5.3 | |
FairValueInputsRenewableEnergyCreditPrices | 45 | 38 | |
FairValueInputsForwardReserve | 5.8 | 5.8 | |
Fair Value Inputs Level 3 [Member] | MaximumMember | |||
FairValueInputsQuantitativeInformation[Abstract] | |||
FairValueInputsCapacityPrices | 12.98 | 12.98 | |
FairValueInputsRenewableEnergyCreditPrices | 50 | 56 | |
FairValueInputsForwardReserve | 9.5 | 9.5 | |
Fair Value Inputs Level 3 [Member] | The Connecticut Light And Power Company [Member] | |||
Derivative Instrument Detail Abstract | |||
Derivative Assets - Current | 9,400,000 | 9,500,000 | |
Derivative Liabilities - Current | -88,200,000 | -88,500,000 | |
Derivative Liabilities, Noncurrent | -395,000,000 | -406,200,000 | |
Derivative Assets Noncurrent | 70,500,000 | 74,300,000 | |
FairValueInputsQuantitativeInformation[Abstract] | |||
FairValueInputsEnergyPrices | 48 | 52 | |
Fair Value Inputs Level 3 [Member] | The Connecticut Light And Power Company [Member] | MinimumMember | |||
FairValueInputsQuantitativeInformation[Abstract] | |||
FairValueInputsCapacityPrices | 11.13 | 11.08 | |
FairValueInputsForwardReserve | 5.8 | 5.8 | |
Fair Value Inputs Level 3 [Member] | The Connecticut Light And Power Company [Member] | MaximumMember | |||
FairValueInputsQuantitativeInformation[Abstract] | |||
FairValueInputsCapacityPrices | 12.98 | 12.98 | |
FairValueInputsForwardReserve | 9.5 | 9.5 | |
Fair Value Inputs Level 3 [Member] | NSTAR Electric Company [Member] | |||
Derivative Instrument Detail Abstract | |||
Derivative Assets - Current | 0 | 100,000 | |
Derivative Liabilities - Current | -2,100,000 | -1,500,000 | |
Derivative Liabilities, Noncurrent | -1,400,000 | -3,100,000 | |
Fair Value Inputs Level 3 [Member] | NSTAR Electric Company [Member] | MinimumMember | |||
FairValueInputsQuantitativeInformation[Abstract] | |||
FairValueInputsCapacityPrices | 8.8 | 5.3 | |
FairValueInputsRenewableEnergyCreditPrices | 45 | 38 | |
Fair Value Inputs Level 3 [Member] | NSTAR Electric Company [Member] | MaximumMember | |||
FairValueInputsQuantitativeInformation[Abstract] | |||
FairValueInputsCapacityPrices | 11.13 | 11.1 | |
FairValueInputsRenewableEnergyCreditPrices | 50 | 56 | |
Amount Offset Against Derivatives [Member] | Fair Value Inputs Level 2 [Member] | |||
Derivative Instrument Detail Abstract | |||
Derivative Liabilities - Current | 0 | ||
Amount Offset Against Derivatives [Member] | Fair Value Inputs Level 3 [Member] | |||
Derivative Instrument Detail Abstract | |||
Derivative Assets - Current | -6,600,000 | -6,600,000 | |
Derivative Liabilities - Current | 0 | ||
Derivative Assets Noncurrent | -17,800,000 | -19,200,000 | |
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 | -6,600,000 | |
Derivative Assets Noncurrent | -17,800,000 | -19,200,000 | |
Commodity [Member] | Fair Value Inputs Level 2 [Member] | |||
Derivative Instrument Detail Abstract | |||
Derivative Liabilities - Current | -3,200,000 | -9,800,000 | |
Derivative Liabilities, Noncurrent | -200,000 | -300,000 | |
Commodity [Member] | Fair Value Inputs Level 3 [Member] | |||
Derivative Instrument Detail Abstract | |||
Derivative Assets - Current | 16,000,000 | 16,200,000 | |
Derivative Liabilities - Current | -90,300,000 | -90,000,000 | |
Derivative Liabilities, Noncurrent | -396,400,000 | -409,300,000 | |
Derivative Assets Noncurrent | 88,300,000 | 93,500,000 | |
Commodity [Member] | Fair Value Inputs Level 3 [Member] | The Connecticut Light And Power Company [Member] | |||
Derivative Instrument Detail Abstract | |||
Derivative Assets - Current | 16,000,000 | 16,100,000 | |
Derivative Liabilities - Current | -88,200,000 | -88,500,000 | |
Derivative Liabilities, Noncurrent | -395,000,000 | -406,200,000 | |
Derivative Assets Noncurrent | 88,300,000 | 93,500,000 | |
Commodity [Member] | Fair Value Inputs Level 3 [Member] | NSTAR Electric Company [Member] | |||
Derivative Instrument Detail Abstract | |||
Derivative Assets - Current | 0 | 100,000 | |
Derivative Liabilities - Current | -2,100,000 | -1,500,000 | |
Derivative Liabilities, Noncurrent | ($1,400,000) | ($3,100,000) |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Beginning Balance | ($415.40) | ($635.20) |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Liability Gain Loss Included In Reg Asset Liability | -12.1 | 49.2 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements | 20.7 | 21.7 |
Ending Balance | -406.8 | -564.3 |
The Connecticut Light And Power Company [Member] | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Beginning Balance | -410.9 | -630.6 |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Liability Gain Loss Included In Reg Asset Liability | -12.1 | 52 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements | 19.7 | 21.6 |
Ending Balance | -403.3 | -557 |
NSTAR Electric Company [Member] | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Beginning Balance | -4.5 | -7.3 |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Liability Gain Loss Included In Reg Asset Liability | 0 | -0.1 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements | 1 | 0.1 |
Ending Balance | ($3.50) | ($7.30) |
MARKETABLE_SECURITIES_Details
MARKETABLE SECURITIES (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Investments, Debt and Equity Securities [Abstract] | ||
Marketable Securities, Restricted | $458.30 | $450.80 |
Available For Sale Securities Debt Maturities Fair Value Abstract | ||
Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value | 63.5 | |
Available For Sale Securities Debt Maturities After Ten Years Fair Value | 119.1 | |
Available For Sale Securities Debt Maturities After One Year Through Five Years Fair Value | 83.8 | |
Available For Sale Securities Debt Maturities Within One Year Fair Value | 59.9 | |
Available For Sale Securities Debt Maturities Fair Value | 326.3 | |
Available For Sale Securities Debt Maturities Amortized Cost Abstract | ||
Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost | 83.3 | |
Available For Sale Securities Debt Maturities Within One Year Amortized Cost | 59.9 | |
Available For Sale Securities Debt Maturities After Ten Years Amortized Cost | 113.4 | |
Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost | 61.6 | |
Available For Sale Securities Debt Maturities Amortized Cost | 318.2 | |
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | ||
Investments Fair Value Disclosure | 649.5 | 639.2 |
TradingSecuritiesEquity | 86.7 | 85.1 |
IncreaseDecreaseInTradingSecurities | 1.6 | 0.7 |
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 | 0.6 | |
Available For Sale Securities Debt Maturities After Ten Years Fair Value | 3.1 | |
Available For Sale Securities Debt Maturities After One Year Through Five Years Fair Value | 21.3 | |
Available For Sale Securities Debt Maturities Within One Year Fair Value | 33.2 | |
Available For Sale Securities Debt Maturities Fair Value | 58.2 | |
Available For Sale Securities Debt Maturities Amortized Cost Abstract | ||
Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost | 21.3 | |
Available For Sale Securities Debt Maturities Within One Year Amortized Cost | 33.2 | |
Available For Sale Securities Debt Maturities After Ten Years Amortized Cost | 3.1 | |
Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost | 0.6 | |
Available For Sale Securities Debt Maturities Amortized Cost | 58.2 | |
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | ||
Investments Fair Value Disclosure | 58.2 | 58.1 |
Fair Value Inputs Level 1 Member | ||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | ||
Investments Fair Value Disclosure | 356.1 | 343.9 |
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 | 10.5 | 4.3 |
Fair Value Inputs Level 2 [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | ||
Investments Fair Value Disclosure | 293.4 | 295.3 |
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 | 47.7 | 53.8 |
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 | 46 | 51.3 |
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 | 0 |
Corporate Bond Securities Member | Fair Value Inputs Level 2 [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | ||
Investments Fair Value Disclosure | 157.3 | 49.1 |
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 | 14.4 | 14.7 |
Asset Backed Securities Member | Fair Value Inputs Level 2 [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | ||
Investments Fair Value Disclosure | 36.5 | 54.1 |
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 | 12.1 | 14.5 |
Municipal Bonds Member | Fair Value Inputs Level 2 [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | ||
Investments Fair Value Disclosure | 31.9 | 116.3 |
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 | 12.9 | 13 |
Other Debt Securities Member | Fair Value Inputs Level 2 [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | ||
Investments Fair Value Disclosure | 21.7 | 24.5 |
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 | 8.3 | 11.6 |
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 | 32.9 | 24.9 |
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 | 10.5 | 4.3 |
Mutual Funds [Member] | Fair Value Inputs Level 1 Member | ||
Fair Value Assets And Liabilities Measured On Recurring Basis Abstract | ||
Investments Fair Value Disclosure | 323.2 | 319 |
Debt Securities | ||
Investments, Debt and Equity Securities [Abstract] | ||
Available For Sale Securities Fair Value Disclosure | 326.3 | 320.2 |
Available-for-sale Securities, Gross Unrealized Gains | 8.2 | 7.5 |
AvailableForSaleSecuritiesGrossUnrealizedLoss | -0.1 | -0.3 |
Available For Sale Securities Amortized Cost | 318.2 | 313 |
Debt Securities | Western Massachusetts Electric Company [Member] | ||
Investments, Debt and Equity Securities [Abstract] | ||
Available For Sale Securities Fair Value Disclosure | 58.2 | 58.1 |
Available-for-sale Securities, Gross Unrealized Gains | 0 | 0 |
AvailableForSaleSecuritiesGrossUnrealizedLoss | 0 | -0.1 |
Available For Sale Securities Amortized Cost | 58.2 | 58.2 |
Equity Securities | ||
Investments, Debt and Equity Securities [Abstract] | ||
Available For Sale Securities Fair Value Disclosure | 236.5 | 233.9 |
Available-for-sale Securities, Gross Unrealized Gains | 77 | 73.3 |
AvailableForSaleSecuritiesGrossUnrealizedLoss | 0 | 0 |
Available For Sale Securities Amortized Cost | $159.50 | $160.60 |
SHORT_TERM_AND_LONG_TERM_DEBT_
SHORT TERM AND LONG TERM DEBT (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Dec. 31, 2014 | |
Line of Credit Facility [Line Items] | ||
Line of Credit Facility, Description | Credit Agreements and Commercial Paper Programs: ES parent, CL&P, PSNH, WMECO, NSTAR Gas and Yankee Gas are parties to a five-year $1.45 billion revolving credit facility that expires September 6, 2019. The revolving credit facility is used primarily to backstop ES parent's $1.45 billion commercial paper program. The commercial paper program allows ES parent to issue commercial paper as a form of short-term debt. As of March 31, 2015 and December 31, 2014, ES parent had $788 million and approximately $1.1 billion, respectively, in short-term borrowings outstanding under the ES parent commercial paper program, leaving $662 million and $348.9 million of available borrowing capacity as of March 31, 2015 and December 31, 2014, respectively. The weighted-average interest rate on these borrowings as of March 31, 2015 and December 31, 2014 was 0.53 percent and 0.43 percent, respectively, which is generally based on A2/P2 rated commercial paper. As of March 31, 2015, there were intercompany loans from ES parent of $190.1 million to CL&P, $82 million to PSNH and $70.5 million to WMECO. As of December 31, 2014, there were intercompany loans from ES parent of $133.4 million to CL&P, $90.5 million to PSNH and $21.4 million to WMECO. NSTAR Electric has a five-year $450 million revolving credit facility that expires September 6, 2019. This facility serves to backstop NSTAR Electric's existing $450 million commercial paper program. As of March 31, 2015 and December 31, 2014, NSTAR Electric had $215.5 million and $302 million, respectively, in short-term borrowings outstanding under its commercial paper program, leaving $234.5 million and $148 million of available borrowing capacity as of March 31, 2015 and December 31, 2014, respectively. The weighted-average interest rate on these borrowings as of March 31, 2015 and December 31, 2014 was 0.35 percent and 0.27 percent, respectively, which is generally based on A2/P1 rated commercial paper. | |
Notes Payable | $1,003,500,000 | $956,825,000 |
Long Term Debt Description [Abstract] | ||
Long-term Debt, Description | Long-Term Debt: On January 15, 2015, ES 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 ES parent 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 April 1, 2015, CL&P repaid at maturity the $100 million 5.00 percent 2005 Series A First and Refunding Mortgage Bonds using short-term borrowings. On April 1, 2015, CL&P also redeemed the $62 million 1996A Series 1.55 percent PCRBs that were subject to mandatory tender, using short term borrowings. Long-Term Debt Issuance Authorization: On April 3, 2015, the DPU authorized NSTAR Gas to issue up to $100 million in long-term debt for the period through December 31, 2015. | |
The Connecticut Light And Power Company [Member] | ||
Line of Credit Facility [Line Items] | ||
Notes Payable To Affiliated Companies | 190,100,000 | 133,400,000 |
Long Term Debt Description [Abstract] | ||
Long-term Debt, Description | On April 1, 2015, CL&P repaid at maturity the $100 million 5.00 percent 2005 Series A First and Refunding Mortgage Bonds using short-term borrowings. On April 1, 2015, CL&P also redeemed the $62 million 1996A Series 1.55 percent PCRBs that were subject to mandatory tender, using short term borrowings. | |
NSTAR Electric Company [Member] | ||
Line of Credit Facility [Line Items] | ||
Line of Credit Facility, Maximum Borrowing Capacity | 450,000,000 | |
Line of Credit Facility, Remaining Borrowing Capacity | 234,500,000 | 148,000,000 |
Short-term Debt, Weighted Average Interest Rate | 0.35% | 0.27% |
Commercial Paper Borrowings | 215,500,000 | 302,000,000 |
Notes Payable | 215,500,000 | 302,000,000 |
Public Service Company Of New Hampshire [Member] | ||
Line of Credit Facility [Line Items] | ||
Notes Payable To Affiliated Companies | 82,000,000 | 90,500,000 |
Western Massachusetts Electric Company [Member] | ||
Line of Credit Facility [Line Items] | ||
Notes Payable To Affiliated Companies | 70,500,000 | 21,400,000 |
Nu Parent [Member] | ||
Line of Credit Facility [Line Items] | ||
Line of Credit Facility, Maximum Borrowing Capacity | 1,450,000,000 | |
Line of Credit Facility, Remaining Borrowing Capacity | 662,000,000 | 348,900,000 |
Short-term Debt, Weighted Average Interest Rate | 0.53% | 0.43% |
Commercial Paper Borrowings | $788,000,000 | $1,100,000,000 |
PENSION_BENEFITS_AND_POSTRETIR1
PENSION BENEFITS AND POSTRETIREMENT BENEFITS OTHER THAN PENSIONS (Details) (USD $) | 3 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | |
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | |||
Accrued Pension, PBOP and SERP | $1,605,339,000 | $1,638,558,000 | |
Amount That Represents Deferred Regulatory Assets | 1,000,000 | ||
Pension Plans Defined Benefit Member | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Defined Benefit Plan Service Cost | 23,200,000 | 22,300,000 | |
Defined Benefit Plan Interest Cost | 56,600,000 | 56,600,000 | |
Defined Benefit Plan, Expected Return on Plan Assets | -84,300,000 | -77,700,000 | |
Defined Benefit Plan, Amortization of Gains (Losses) | 38,900,000 | 33,000,000 | |
Defined Benefit Plan Amortization Of Prior Service Cost Credit | 900,000 | 1,100,000 | |
Defined Benefit Plan Net Periodic Benefit Cost | 35,300,000 | 35,300,000 | |
Amount Capitalized Defined Benefit Expense | 9,600,000 | 9,700,000 | |
PBOP Plan | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Defined Benefit Plan Service Cost | 4,200,000 | 3,000,000 | |
Defined Benefit Plan Interest Cost | 11,900,000 | 12,600,000 | |
Defined Benefit Plan, Expected Return on Plan Assets | -16,800,000 | -15,700,000 | |
Defined Benefit Plan, Amortization of Gains (Losses) | 1,800,000 | 3,000,000 | |
Defined Benefit Plan Amortization Of Prior Service Cost Credit | -100,000 | -600,000 | |
Defined Benefit Plan Net Periodic Benefit Cost | 1,000,000 | 2,300,000 | |
Amount Capitalized Defined Benefit Expense | 200,000 | 400,000 | |
The Connecticut Light And Power Company [Member] | |||
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | |||
Accrued Pension, PBOP and SERP | 272,292,000 | 273,854,000 | |
The Connecticut Light And Power Company [Member] | Pension Plans Defined Benefit Member | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Defined Benefit Plan Service Cost | 6,000,000 | 5,200,000 | |
Defined Benefit Plan Interest Cost | 12,700,000 | 13,300,000 | |
Defined Benefit Plan, Expected Return on Plan Assets | -19,700,000 | -19,400,000 | |
Defined Benefit Plan, Amortization of Gains (Losses) | 8,200,000 | 9,100,000 | |
Defined Benefit Plan Amortization Of Prior Service Cost Credit | 400,000 | 500,000 | |
Defined Benefit Plan Net Periodic Benefit Cost | 7,600,000 | 8,700,000 | |
Related Intercompany Allocationsof Defined Benefit Expense | 6,400,000 | 6,800,000 | |
Amount Capitalized Defined Benefit Expense | 4,300,000 | 4,900,000 | |
The Connecticut Light And Power Company [Member] | PBOP Plan | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Defined Benefit Plan Service Cost | 600,000 | 600,000 | |
Defined Benefit Plan Interest Cost | 1,800,000 | 2,100,000 | |
Defined Benefit Plan, Expected Return on Plan Assets | -2,800,000 | -2,700,000 | |
Defined Benefit Plan, Amortization of Gains (Losses) | 200,000 | 1,100,000 | |
Defined Benefit Plan Net Periodic Benefit Cost | -200,000 | 1,100,000 | |
Related Intercompany Allocationsof Defined Benefit Expense | 500,000 | 1,100,000 | |
Amount Capitalized Defined Benefit Expense | 0 | 500,000 | |
NSTAR Electric Company [Member] | |||
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | |||
Accrued Pension, PBOP and SERP | 228,411,000 | 235,529,000 | |
NSTAR Electric Company [Member] | Pension Plans Defined Benefit Member | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Defined Benefit Plan Service Cost | 3,800,000 | 4,600,000 | |
Defined Benefit Plan Interest Cost | 10,200,000 | 10,200,000 | |
Defined Benefit Plan, Expected Return on Plan Assets | -17,600,000 | -15,800,000 | |
Defined Benefit Plan, Amortization of Gains (Losses) | 9,600,000 | 5,800,000 | |
Defined Benefit Plan Amortization Of Prior Service Cost Credit | 0 | 0 | |
Defined Benefit Plan Net Periodic Benefit Cost | 6,000,000 | 4,800,000 | |
Related Intercompany Allocationsof Defined Benefit Expense | 3,600,000 | 2,400,000 | |
Amount Capitalized Defined Benefit Expense | 2,800,000 | 1,900,000 | |
NSTAR Electric Company [Member] | PBOP Plan | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Defined Benefit Plan Service Cost | 1,300,000 | 700,000 | |
Defined Benefit Plan Interest Cost | 4,800,000 | 4,900,000 | |
Defined Benefit Plan, Expected Return on Plan Assets | -6,800,000 | -6,400,000 | |
Defined Benefit Plan, Amortization of Gains (Losses) | 800,000 | -100,000 | |
Defined Benefit Plan Amortization Of Prior Service Cost Credit | -100,000 | -500,000 | |
Defined Benefit Plan Net Periodic Benefit Cost | 0 | -1,400,000 | |
Related Intercompany Allocationsof Defined Benefit Expense | 300,000 | 100,000 | |
Amount Capitalized Defined Benefit Expense | 100,000 | -500,000 | |
Public Service Company Of New Hampshire [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Defined Benefit Plan Amortization Of Prior Service Cost Credit | 0 | ||
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | |||
Accrued Pension, PBOP and SERP | 91,847,000 | 93,243,000 | |
Amount That Represents Deferred Regulatory Assets | 1,000,000 | ||
Public Service Company Of New Hampshire [Member] | Pension Plans Defined Benefit Member | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Defined Benefit Plan Service Cost | 2,900,000 | 2,800,000 | |
Defined Benefit Plan Interest Cost | 5,900,000 | 6,500,000 | |
Defined Benefit Plan, Expected Return on Plan Assets | -10,000,000 | -10,200,000 | |
Defined Benefit Plan, Amortization of Gains (Losses) | 3,000,000 | 3,300,000 | |
Defined Benefit Plan Amortization Of Prior Service Cost Credit | 100,000 | 200,000 | |
Defined Benefit Plan Net Periodic Benefit Cost | 1,900,000 | 2,600,000 | |
Related Intercompany Allocationsof Defined Benefit Expense | 1,700,000 | 1,900,000 | |
Amount Capitalized Defined Benefit Expense | 800,000 | 900,000 | |
Public Service Company Of New Hampshire [Member] | PBOP Plan | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Defined Benefit Plan Service Cost | 400,000 | 400,000 | |
Defined Benefit Plan Interest Cost | 1,000,000 | 1,100,000 | |
Defined Benefit Plan, Expected Return on Plan Assets | -1,500,000 | -1,400,000 | |
Defined Benefit Plan, Amortization of Gains (Losses) | 100,000 | 500,000 | |
Defined Benefit Plan Net Periodic Benefit Cost | 0 | 600,000 | |
Related Intercompany Allocationsof Defined Benefit Expense | 100,000 | 300,000 | |
Amount Capitalized Defined Benefit Expense | 0 | 200,000 | |
Western Massachusetts Electric Company [Member] | |||
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | |||
Accrued Pension, PBOP and SERP | 16,505,000 | 17,705,000 | |
Western Massachusetts Electric Company [Member] | Pension Plans Defined Benefit Member | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Defined Benefit Plan Service Cost | 1,100,000 | 1,000,000 | |
Defined Benefit Plan Interest Cost | 2,500,000 | 2,700,000 | |
Defined Benefit Plan, Expected Return on Plan Assets | -4,700,000 | -4,600,000 | |
Defined Benefit Plan, Amortization of Gains (Losses) | 1,600,000 | 1,900,000 | |
Defined Benefit Plan Amortization Of Prior Service Cost Credit | 100,000 | 100,000 | |
Defined Benefit Plan Net Periodic Benefit Cost | 600,000 | 1,100,000 | |
Related Intercompany Allocationsof Defined Benefit Expense | 1,200,000 | 1,300,000 | |
Amount Capitalized Defined Benefit Expense | 500,000 | 800,000 | |
Western Massachusetts Electric Company [Member] | PBOP Plan | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Defined Benefit Plan Service Cost | 100,000 | 100,000 | |
Defined Benefit Plan Interest Cost | 400,000 | 500,000 | |
Defined Benefit Plan, Expected Return on Plan Assets | -600,000 | -600,000 | |
Defined Benefit Plan, Amortization of Gains (Losses) | 0 | 100,000 | |
Defined Benefit Plan Net Periodic Benefit Cost | -100,000 | 100,000 | |
Related Intercompany Allocationsof Defined Benefit Expense | 100,000 | 200,000 | |
Amount Capitalized Defined Benefit Expense | $0 | $100,000 |
INCOME_TAXES_Details
INCOME TAXES (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | ||
Total Deferred Income Taxes | $148,193 | $137,417 |
Income Tax Expense | 153,226 | 141,545 |
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract] | ||
Income Before Income Tax Expense | 408,359 | 379,381 |
Income Tax Expense | 153,226 | 141,545 |
The Connecticut Light And Power Company [Member] | ||
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | ||
Total Deferred Income Taxes | 19,340 | 59,334 |
Income Tax Expense | 38,147 | 45,541 |
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract] | ||
Income Before Income Tax Expense | 107,381 | 124,840 |
Income Tax Expense | 38,147 | 45,541 |
NSTAR Electric Company [Member] | ||
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | ||
Total Deferred Income Taxes | 41,297 | 1,585 |
Income Tax Expense | 56,130 | 39,234 |
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract] | ||
Income Before Income Tax Expense | 139,691 | 97,321 |
Income Tax Expense | 56,130 | 39,234 |
Public Service Company Of New Hampshire [Member] | ||
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | ||
Total Deferred Income Taxes | 38,767 | 33,667 |
Income Tax Expense | 20,276 | 19,700 |
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract] | ||
Income Before Income Tax Expense | 52,321 | 52,338 |
Income Tax Expense | 20,276 | 19,700 |
Western Massachusetts Electric Company [Member] | ||
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | ||
Total Deferred Income Taxes | 12,759 | 14,688 |
Income Tax Expense | 9,113 | 11,558 |
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract] | ||
Income Before Income Tax Expense | 22,357 | 29,660 |
Income Tax Expense | $9,113 | $11,558 |
Environmental_Matters_Details
Environmental Matters (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Site Contingency [Line Items] | ||
Environmental Site Quantity | 65 | 65 |
Accrual for Environmental Loss Contingencies [Roll Forward] | ||
Beginning Balance | $43.30 | |
Ending Balance | 43.6 | 43.3 |
MGP Site accrual [Member] | ||
Accrual for Environmental Loss Contingencies [Roll Forward] | ||
Ending Balance | 35.4 | 38.8 |
The Connecticut Light And Power Company [Member] | ||
Site Contingency [Line Items] | ||
Environmental Site Quantity | 16 | 16 |
Accrual for Environmental Loss Contingencies [Roll Forward] | ||
Beginning Balance | 3.8 | |
Ending Balance | 5 | 3.8 |
NSTAR Electric Company [Member] | ||
Site Contingency [Line Items] | ||
Environmental Site Quantity | 14 | 13 |
Accrual for Environmental Loss Contingencies [Roll Forward] | ||
Beginning Balance | 1.1 | |
Ending Balance | 1.7 | 1.1 |
Public Service Company Of New Hampshire [Member] | ||
Site Contingency [Line Items] | ||
Environmental Site Quantity | 12 | 13 |
Accrual for Environmental Loss Contingencies [Roll Forward] | ||
Beginning Balance | 5.2 | |
Ending Balance | 3.4 | 5.2 |
Western Massachusetts Electric Company [Member] | ||
Site Contingency [Line Items] | ||
Environmental Site Quantity | 4 | 4 |
Accrual for Environmental Loss Contingencies [Roll Forward] | ||
Beginning Balance | 0.5 | |
Ending Balance | $0.60 | $0.50 |
Guarantees_and_Indemnification1
Guarantees and Indemnifications (Details) (USD $) | Mar. 31, 2015 |
In Millions, unless otherwise specified | |
Guarantee Of Financial Obligations Of Npt [Member] | |
Guarantee Obligations [Line Items] | |
Guarantee Obligations Maximum Exposure | $25 |
Various Subsidiary Surety Bonds And Performance Guarantees Expiring Between 2015 And 2016 [Member] | |
Guarantee Obligations [Line Items] | |
Guarantee Obligations Maximum Exposure | 54.6 |
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 | $13.80 |
Other_Contingencies_Details
Other Contingencies (Details) (FERC ROE Reserve - Incentive - First and Second Complaint [Member], USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2015 |
Loss Contingencies Line Items | |
Loss Contingency Loss in Period | $20 |
The Connecticut Light And Power Company [Member] | |
Loss Contingencies Line Items | |
Loss Contingency Loss in Period | 12.5 |
NSTAR Electric Company [Member] | |
Loss Contingencies Line Items | |
Loss Contingency Loss in Period | 2.4 |
Public Service Company Of New Hampshire [Member] | |
Loss Contingencies Line Items | |
Loss Contingency Loss in Period | 1 |
Western Massachusetts Electric Company [Member] | |
Loss Contingencies Line Items | |
Loss Contingency Loss in Period | $4.10 |
FAIR_VALUE_OF_FINANCIAL_INSTRU2
FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
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 | 8,847,700,000 | 8,851,600,000 |
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 | 155,100,000 | 153,600,000 |
Other Long Term Debt | 9,553,100,000 | 9,451,200,000 |
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 | 2,842,100,000 | 2,842,000,000 |
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 | 113,000,000 | 112,000,000 |
Other Long Term Debt | 3,260,400,000 | 3,214,500,000 |
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 | 1,797,400,000 |
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 | 42,100,000 | 41,600,000 |
Other Long Term Debt | 2,022,100,000 | 1,993,500,000 |
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 | 1,076,300,000 |
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 | 1,156,400,000 | 1,137,900,000 |
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 | 628,200,000 | 628,500,000 |
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 | $674,400,000 | $689,400,000 |
ACCUMULATED_OTHER_COMPREHENSIV2
ACCUMULATED OTHER COMPREHENSIVE INCOME (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Accumulated Other Comprehensive Income Loss Net Of Tax RollForward [Abstract] | ||
AOCI Beginning Balance | ($74,009,000) | ($46,000,000) |
Other Comprehensive Income Before Reclassifications, Net of Tax | 100,000 | 200,000 |
Reclassification From OCI, Net Of Tax | 1,500,000 | 1,500,000 |
Other Comprehensive Income (Loss), Net of Tax, Total | 1,595,000 | 1,710,000 |
AOCI Ending Balance | -72,414,000 | -44,300,000 |
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Abstract] | ||
Total Interest Expense | -94,843,000 | -89,975,000 |
Income Tax Expense | -153,226,000 | -141,545,000 |
Net Income Attributable to Controlling Interests | 253,254,000 | 235,957,000 |
The Connecticut Light And Power Company [Member] | ||
Accumulated Other Comprehensive Income Loss Net Of Tax RollForward [Abstract] | ||
AOCI Beginning Balance | -931,000 | |
Other Comprehensive Income (Loss), Net of Tax, Total | 115,000 | 119,000 |
AOCI Ending Balance | -816,000 | |
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Abstract] | ||
Total Interest Expense | -36,624,000 | -34,243,000 |
Income Tax Expense | -38,147,000 | -45,541,000 |
Public Service Company Of New Hampshire [Member] | ||
Accumulated Other Comprehensive Income Loss Net Of Tax RollForward [Abstract] | ||
AOCI Beginning Balance | -7,369,000 | |
Other Comprehensive Income (Loss), Net of Tax, Total | 299,000 | 304,000 |
AOCI Ending Balance | -7,070,000 | |
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Abstract] | ||
Total Interest Expense | -11,272,000 | -11,971,000 |
Income Tax Expense | -20,276,000 | -19,700,000 |
Western Massachusetts Electric Company [Member] | ||
Accumulated Other Comprehensive Income Loss Net Of Tax RollForward [Abstract] | ||
AOCI Beginning Balance | -3,176,000 | |
Other Comprehensive Income (Loss), Net of Tax, Total | 86,000 | 87,000 |
AOCI Ending Balance | -3,090,000 | |
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Abstract] | ||
Total Interest Expense | -6,823,000 | -5,646,000 |
Income Tax Expense | -9,113,000 | -11,558,000 |
Qualified Cash Flow Hedging Instruments [Member] | ||
Accumulated Other Comprehensive Income Loss Net Of Tax RollForward [Abstract] | ||
AOCI Beginning Balance | -12,400,000 | -14,400,000 |
Reclassification From OCI, Net Of Tax | 500,000 | 500,000 |
Other Comprehensive Income (Loss), Net of Tax, Total | 500,000 | 500,000 |
AOCI Ending Balance | -11,900,000 | -13,900,000 |
Unrealized Gains Losses on Available for Sale Securities [Member] | ||
Accumulated Other Comprehensive Income Loss Net Of Tax RollForward [Abstract] | ||
AOCI Beginning Balance | 700,000 | 400,000 |
Other Comprehensive Income Before Reclassifications, Net of Tax | 100,000 | 200,000 |
Other Comprehensive Income (Loss), Net of Tax, Total | 100,000 | 200,000 |
AOCI Ending Balance | 800,000 | 600,000 |
Pension, SERP and PBOP Benefit Plans [Member] | ||
Accumulated Other Comprehensive Income Loss Net Of Tax RollForward [Abstract] | ||
AOCI Beginning Balance | -62,300,000 | -32,000,000 |
Other Comprehensive Income Before Reclassifications, Net of Tax | 0 | |
Reclassification From OCI, Net Of Tax | 1,000,000 | 1,000,000 |
Other Comprehensive Income (Loss), Net of Tax, Total | 1,000,000 | 1,000,000 |
AOCI Ending Balance | ($61,300,000) | ($31,000,000) |
COMMON_SHARES_Details
COMMON SHARES (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
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 | 333,607,844 | 333,359,172 |
Treasury Stock Shares | 16,138,845 | 16,375,835 |
Common Stock, Shares, Outstanding | 317,468,999 | 316,983,337 |
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 |
EARNINGS_PER_SHARE_Details
EARNINGS PER SHARE (Details) (USD $) | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Notes To Consolidated Financial Statements [Abstract] | ||
Net Income Attributable to Controlling Interests | $253,254 | $235,957 |
Basic | 317,090,841 | 315,534,512 |
Weighted Average Number Diluted Shares Outstanding Adjustment | 1,400,347 | 1,357,607 |
Diluted | 318,491,188 | 316,892,119 |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount | 0 | 0 |
Basic Earnings Per Common Share | $0.80 | $0.75 |
Diluted Earnings Per Common Share | $0.80 | $0.74 |
SEGMENT_INFORMATION_Details
SEGMENT INFORMATION (Details) (USD $) | 3 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | |
Segment Reporting Information [Line Items] | |||
Operating Revenues | $2,513,431,000 | $2,290,590,000 | |
Operating Income | 497,475,000 | 467,689,000 | |
Total Interest Expense | -94,843,000 | -89,975,000 | |
Other Income/(Loss), Net | 5,727,000 | 1,667,000 | |
Income Tax Expense | -153,226,000 | -141,545,000 | |
Net Income | 255,133,000 | 237,836,000 | |
Net Income Attributable to Noncontrolling Interests | -1,879,000 | -1,879,000 | |
Net Income Attributable to Controlling Interests | 253,254,000 | 235,957,000 | |
Total Assets | 29,951,765,000 | 29,777,975,000 | |
Investments in Property, Plant and Equipment | 362,586,000 | 348,691,000 | |
Electric Distribution [Member] | |||
Segment Reporting Information [Line Items] | |||
Operating Revenues | 1,760,100,000 | 1,585,900,000 | |
Depreciation And Amortization | -159,100,000 | -148,800,000 | |
Operating Expenses, Other | -1,342,800,000 | -1,210,900,000 | |
Operating Income | 258,200,000 | 226,200,000 | |
Total Interest Expense | -47,600,000 | -47,400,000 | |
Other Income/(Loss), Net | 2,200,000 | 1,400,000 | |
Net Income Attributable to Controlling Interests | 130,600,000 | 112,200,000 | |
Total Assets | 17,930,200,000 | 17,563,400,000 | |
Investments in Property, Plant and Equipment | 172,500,000 | 189,400,000 | |
Natural Gas Distribution [Member] | |||
Segment Reporting Information [Line Items] | |||
Operating Revenues | 507,400,000 | 432,800,000 | |
Depreciation And Amortization | -18,200,000 | -17,700,000 | |
Operating Expenses, Other | -388,500,000 | -321,400,000 | |
Operating Income | 100,700,000 | 93,700,000 | |
Total Interest Expense | -9,000,000 | -8,500,000 | |
Other Income/(Loss), Net | -200,000 | 100,000 | |
Net Income Attributable to Controlling Interests | 55,600,000 | 52,100,000 | |
Total Assets | 3,008,500,000 | 3,030,900,000 | |
Investments in Property, Plant and Equipment | 30,000,000 | 28,900,000 | |
Transmission [Member] | |||
Segment Reporting Information [Line Items] | |||
Operating Revenues | 249,000,000 | 252,100,000 | |
Depreciation And Amortization | -40,400,000 | -37,000,000 | |
Operating Expenses, Other | -74,100,000 | -66,400,000 | |
Operating Income | 134,500,000 | 148,700,000 | |
Total Interest Expense | -27,600,000 | -25,500,000 | |
Other Income/(Loss), Net | 2,900,000 | 1,500,000 | |
Net Income Attributable to Controlling Interests | 66,600,000 | 74,900,000 | |
Total Assets | 7,503,100,000 | 7,625,600,000 | |
Investments in Property, Plant and Equipment | 150,000,000 | 112,200,000 | |
Other Segment [Member] | |||
Segment Reporting Information [Line Items] | |||
Operating Revenues | 240,000,000 | 172,200,000 | |
Depreciation And Amortization | -7,200,000 | -7,000,000 | |
Operating Expenses, Other | -229,200,000 | -165,400,000 | |
Operating Income | 3,600,000 | -200,000 | |
Total Interest Expense | -11,800,000 | -9,600,000 | |
Other Income/(Loss), Net | 314,900,000 | 294,800,000 | |
Net Income Attributable to Controlling Interests | 312,900,000 | 291,700,000 | |
Total Assets | 12,874,100,000 | 12,682,500,000 | |
Investments in Property, Plant and Equipment | 10,100,000 | 18,200,000 | |
Eliminations Segment [Member] | |||
Segment Reporting Information [Line Items] | |||
Operating Revenues | -243,100,000 | -152,400,000 | |
Depreciation And Amortization | 500,000 | 1,800,000 | |
Operating Expenses, Other | 243,100,000 | 149,900,000 | |
Operating Income | 500,000 | -700,000 | |
Total Interest Expense | 1,200,000 | 1,000,000 | |
Other Income/(Loss), Net | -314,100,000 | -296,100,000 | |
Net Income Attributable to Controlling Interests | -312,400,000 | -294,900,000 | |
Total Assets | -11,364,100,000 | -11,124,400,000 | |
Investments in Property, Plant and Equipment | 0 | 0 | |
Total [Member] | |||
Segment Reporting Information [Line Items] | |||
Operating Revenues | 2,513,400,000 | 2,290,600,000 | |
Depreciation And Amortization | -224,400,000 | -208,700,000 | |
Operating Expenses, Other | -1,791,500,000 | -1,614,200,000 | |
Operating Income | 497,500,000 | 467,700,000 | |
Total Interest Expense | -94,800,000 | -90,000,000 | |
Other Income/(Loss), Net | 5,700,000 | 1,700,000 | |
Net Income Attributable to Controlling Interests | 253,300,000 | 236,000,000 | |
Total Assets | 29,951,800,000 | 29,778,000,000 | |
Investments in Property, Plant and Equipment | $362,600,000 | $348,700,000 |