Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Oct. 28, 2013 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | NORTHERN STATES POWER CO /WI/ | |
Entity Central Index Key | 72909 | |
Current Fiscal Year End Date | -19 | |
Entity Filer Category | Non-accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | 30-Sep-13 | |
Document Fiscal Year Focus | 2013 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | FALSE | |
Entity Common Stock, Shares Outstanding | 933,000 | |
Entity Well-known Seasoned Issuer | No | |
Entity Voluntary Filers | No | |
Entity Current Reporting Status | Yes |
CONSOLIDATED_STATEMENTS_OF_INC
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Operating revenues | ||||
Electric | $216,545 | $214,426 | $592,730 | $575,532 |
Natural gas | 14,266 | 11,742 | 89,178 | 68,064 |
Other | 249 | 307 | 742 | 851 |
Total operating revenues | 231,060 | 226,475 | 682,650 | 644,447 |
Operating expenses | ||||
Electric fuel and purchased power, non-affiliates | 4,968 | 7,516 | 11,000 | 15,431 |
Purchased power, affiliates | 106,554 | 103,572 | 305,539 | 301,551 |
Cost of natural gas sold and transported | 7,483 | 5,656 | 52,770 | 39,658 |
Operating and maintenance expenses | 42,521 | 41,726 | 127,189 | 122,718 |
Conservation program expenses | 3,133 | 3,714 | 9,243 | 10,836 |
Depreciation and amortization | 19,359 | 17,338 | 57,265 | 51,440 |
Taxes (other than income taxes) | 6,273 | 6,218 | 19,008 | 18,816 |
Total operating expenses | 190,291 | 185,740 | 582,014 | 560,450 |
Operating income | 40,769 | 40,735 | 100,636 | 83,997 |
Other (expense) income, net | -61 | -85 | 209 | 375 |
Allowance for funds used during construction — equity | 1,029 | -385 | 2,755 | 1,379 |
Interest charges and financing costs | ||||
Interest charges — includes other financing costs of $389, $375, $1,150 and $1,185, respectively | 7,191 | 5,944 | 20,860 | 18,003 |
Allowance for funds used during construction — debt | -471 | -995 | -1,280 | -1,220 |
Total interest charges and financing costs | 6,720 | 4,949 | 19,580 | 16,783 |
Income before income taxes | 35,017 | 35,316 | 84,020 | 68,968 |
Income taxes | 13,004 | 13,116 | 31,778 | 26,148 |
Net income | $22,013 | $22,200 | $52,242 | $42,820 |
CONSOLIDATED_STATEMENTS_OF_INC1
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) (Parenthetical) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Interest charges and financing costs | ||||
Other financing costs | $389 | $375 | $1,150 | $1,185 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Comprehensive income: | ||||
Net income | $22,013 | $22,200 | $52,242 | $42,820 |
Derivative instruments: | ||||
Reclassification of losses to net income, net of tax of $12, $12, $38 and $37, respectively. | 20 | 20 | 57 | 58 |
Other comprehensive income | 20 | 20 | 57 | 58 |
Comprehensive income | $22,033 | $22,220 | $52,299 | $42,878 |
CONSOLIDATED_STATEMENTS_OF_COM1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) (Parenthetical) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Derivative instruments: | ||||
Reclassification of losses to net income, net of tax | $12 | $12 | $38 | $37 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Operating activities | ||
Net income | $52,242 | $42,820 |
Adjustments to reconcile net income to cash provided by operating activities: | ||
Depreciation and amortization | 58,126 | 52,291 |
Deferred income taxes | 19,491 | 19,604 |
Amortization of investment tax credits | -500 | -469 |
Allowance for equity funds used during construction | -2,755 | -1,379 |
Net derivative (gains) losses | -658 | 95 |
Changes in operating assets and liabilities: | ||
Accounts receivable | 2,566 | -11,303 |
Accrued unbilled revenues | 11,076 | 9,496 |
Inventories | -3,382 | 3,924 |
Other current assets | 9,486 | 6,142 |
Accounts payable | -3,755 | -7,307 |
Net regulatory assets and liabilities | -6,260 | 6,150 |
Other current liabilities | 9,635 | 9,701 |
Pension and other employee benefit obligations | -9,273 | -11,002 |
Change in other noncurrent assets | 260 | -119 |
Change in other noncurrent liabilities | 1,555 | -500 |
Net cash provided by operating activities | 137,854 | 118,144 |
Investing activities | ||
Utility capital/construction expenditures | -134,641 | -106,553 |
Allowance for equity funds used during construction | 2,754 | 1,379 |
Other, net | -249 | 1,096 |
Net cash used in investing activities | -132,136 | -104,078 |
Financing activities | ||
(Repayments of) proceeds from short-term borrowings, net | -28,000 | 33,000 |
(Repayments of) proceeds from notes payable to affiliate | -80 | 50 |
Repayments of long-term debt | -109 | -48 |
Capital contributions from parent | 42,481 | 2,162 |
Dividends paid to parent | -22,943 | -49,306 |
Net cash used in financing activities | -8,651 | -14,142 |
Net change in cash and cash equivalents | -2,933 | -76 |
Cash and cash equivalents at beginning of period | 4,459 | 1,571 |
Cash and cash equivalents at end of period | 1,526 | 1,495 |
Supplemental disclosure of cash flow information: | ||
Cash paid for interest (net of amounts capitalized) | -18,366 | -16,925 |
Cash received (paid) for income taxes, net | -2,127 | 1,971 |
Supplemental disclosure of non-cash investing transactions: | ||
Property, plant and equipment additions in accounts payable | $10,347 | $8,866 |
CONSOLIDATED_BALANCE_SHEETS_UN
CONSOLIDATED BALANCE SHEETS (UNAUDITED) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Current assets | ||||
Cash and cash equivalents | $1,526 | $4,459 | ||
Accounts receivable, net | 48,119 | [1] | 50,706 | [1] |
Accrued unbilled revenues | 38,062 | 49,138 | ||
Inventories | 22,999 | 19,685 | ||
Regulatory assets | 17,011 | 12,048 | ||
Prepaid taxes | 16,063 | 24,688 | ||
Deferred income taxes | 10,466 | 0 | ||
Prepayments and other | 2,889 | 4,394 | ||
Total current assets | 157,135 | 165,118 | ||
Property, plant and equipment, net | 1,378,647 | 1,298,236 | ||
Other assets | ||||
Regulatory assets | 237,339 | 240,459 | ||
Other investments | 3,483 | 3,232 | ||
Other | 3,677 | 4,040 | ||
Total other assets | 244,499 | 247,731 | ||
Total assets | 1,780,281 | 1,711,085 | ||
Current liabilities | ||||
Current portion of long-term debt | 103 | 1,246 | ||
Short-term debt | 11,000 | 39,000 | ||
Notes payable to affiliates | 470 | 550 | ||
Accounts payable | 29,096 | 30,723 | ||
Accounts payable to affiliates | 29,158 | 31,556 | ||
Dividends payable to parent | 8,038 | 7,667 | ||
Regulatory liabilities | 4,233 | 6,086 | ||
Taxes accrued | 8,303 | 839 | ||
Environmental liabilities | 23,817 | 23,427 | ||
Accrued interest | 7,549 | 7,304 | ||
Other | 9,627 | 10,955 | ||
Total current liabilities | 131,394 | 159,353 | ||
Deferred credits and other liabilities | ||||
Deferred income taxes | 294,026 | 261,800 | ||
Deferred investment tax credits | 9,576 | 8,911 | ||
Regulatory liabilities | 125,982 | 123,746 | ||
Environmental liabilities | 81,862 | 84,655 | ||
Customer advances | 16,861 | 15,631 | ||
Pension and employee benefit obligations | 54,354 | 63,643 | ||
Other | 9,141 | 8,923 | ||
Total deferred credits and other liabilities | 591,802 | 567,309 | ||
Commitments and contingencies | ||||
Capitalization | ||||
Long-term debt | 468,511 | 467,317 | ||
Common stock — 1,000,000 shares authorized of $100 par value; 933,000 shares outstanding at Sept. 30, 2013 and Dec. 31, 2012, respectively | 93,300 | 93,300 | ||
Additional paid in capital | 232,349 | 189,867 | ||
Retained earnings | 263,305 | 234,376 | ||
Accumulated other comprehensive loss | -380 | -437 | ||
Total common stockholder’s equity | 588,574 | 517,106 | ||
Total liabilities and equity | $1,780,281 | $1,711,085 | ||
[1] | Accounts receivable, net includes $14 and $586 due from affiliates as of Sept. 30, 2013 and Dec. 31, 2012, respectively. |
CONSOLIDATED_BALANCE_SHEETS_UN1
CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Capitalization | ||
Common stock, shares authorized (in shares) | 1,000,000 | 1,000,000 |
Common stock, par value (in dollars per share) | $100 | $100 |
Common stock, shares outstanding (in shares) | 933,000 | 933,000 |
Managements_Opinion
Management's Opinion | 9 Months Ended |
Sep. 30, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Management's Opinion | In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments necessary to present fairly, in accordance with accounting principles generally accepted in the United States of America (GAAP), the financial position of NSP-Wisconsin and its subsidiaries as of Sept. 30, 2013 and Dec. 31, 2012; the results of its operations, including the components of net income and comprehensive income, for the three and nine months ended Sept. 30, 2013 and 2012; and its cash flows for the nine months ended Sept. 30, 2013 and 2012. All adjustments are of a normal, recurring nature, except as otherwise disclosed. Management has also evaluated the impact of events occurring after Sept. 30, 2013 up to the date of issuance of these consolidated financial statements. These statements contain all necessary adjustments and disclosures resulting from that evaluation. The Dec. 31, 2012 balance sheet information has been derived from the audited 2012 consolidated financial statements included in the NSP-Wisconsin Annual Report on Form 10-K for the year ended Dec. 31, 2012. These notes to the consolidated financial statements have been prepared pursuant to the rules and regulations of the SEC for Quarterly Reports on Form 10-Q. Certain information and note disclosures normally included in financial statements prepared in accordance with GAAP on an annual basis have been condensed or omitted pursuant to such rules and regulations. For further information, refer to the consolidated financial statements and notes thereto, included in the NSP-Wisconsin Annual Report on Form 10-K for the year ended Dec. 31, 2012, filed with the SEC on Feb. 25, 2013. Due to the seasonality of NSP-Wisconsin’s electric and natural gas sales, interim results are not necessarily an appropriate base from which to project annual results. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies |
The significant accounting policies set forth in Note 1 to the consolidated financial statements in the NSP-Wisconsin Annual Report on Form 10-K for the year ended Dec. 31, 2012, appropriately represent, in all material respects, the current status of accounting policies and are incorporated herein by reference. | |
The electric production and transmission system of NSP-Minnesota and NSP-Wisconsin (NSP System) is operated on an integrated basis and managed by NSP-Minnesota and NSP-Wisconsin. The electric production and transmission costs of the NSP System are shared by NSP-Minnesota and NSP-Wisconsin. A Federal Energy Regulatory Commission (FERC) approved Interchange Agreement between the two companies provides for the sharing of all generation and transmission costs of the NSP System. Such costs include current and potential obligations of NSP-Minnesota related to its nuclear generating facilities. |
Accounting_Pronouncements
Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2013 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Accounting Pronouncements | Accounting Pronouncements |
Recently Adopted | |
Balance Sheet Offsetting — In December 2011, the Financial Accounting Standards Board (FASB) issued Balance Sheet (Topic 210) — Disclosures about Offsetting Assets and Liabilities (Accounting Standards Update (ASU) No. 2011-11), which requires disclosures regarding netting arrangements in agreements underlying derivatives, certain financial instruments and related collateral amounts, and the extent to which an entity’s financial statement presentation policies related to netting arrangements impact amounts recorded to the financial statements. In January 2013, the FASB issued Balance Sheet (Topic 210) – Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities (ASU No. 2013-01) to clarify the specific instruments that should be considered in these disclosures. These disclosure requirements do not affect the presentation of amounts in the consolidated balance sheets, and were effective for annual reporting periods beginning on or after Jan. 1, 2013, and interim periods within those annual reporting periods. NSP-Wisconsin implemented the disclosure guidance effective Jan. 1, 2013, and the implementation did not have a material impact on its consolidated financial statements. See Note 8 for the required disclosures. | |
Comprehensive Income Disclosures — In February 2013, the FASB issued Comprehensive Income (Topic 220) — Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income (ASU No. 2013-02), which requires detailed disclosures regarding changes in components of accumulated other comprehensive income and amounts reclassified out of accumulated other comprehensive income. These disclosure requirements do not change how net income or comprehensive income are presented in the consolidated financial statements. These disclosure requirements were effective for annual reporting periods beginning on or after Dec. 15, 2012, and interim periods within those annual reporting periods. NSP-Wisconsin implemented the disclosure guidance effective Jan. 1, 2013, and the implementation did not have a material impact on its consolidated financial statements. See Note 12 for the required disclosures. |
Selected_Balance_Sheet_Data
Selected Balance Sheet Data | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Balance Sheet Related Disclosures [Abstract] | |||||||||
Selected Balance Sheet Data | Selected Balance Sheet Data | ||||||||
(Thousands of Dollars) | Sept. 30, 2013 | Dec. 31, 2012 | |||||||
Accounts receivable, net (a) | |||||||||
Accounts receivable | $ | 52,596 | $ | 55,039 | |||||
Less allowance for bad debts | (4,477 | ) | (4,333 | ) | |||||
$ | 48,119 | $ | 50,706 | ||||||
(a) Accounts receivable, net includes $14 and $586 due from affiliates as of Sept. 30, 2013 and Dec. 31, 2012, respectively. | |||||||||
(Thousands of Dollars) | Sept. 30, 2013 | Dec. 31, 2012 | |||||||
Inventories | |||||||||
Materials and supplies | $ | 6,406 | $ | 6,172 | |||||
Fuel | 5,771 | 6,664 | |||||||
Natural gas | 10,822 | 6,849 | |||||||
$ | 22,999 | $ | 19,685 | ||||||
(Thousands of Dollars) | Sept. 30, 2013 | Dec. 31, 2012 | |||||||
Property, plant and equipment, net | |||||||||
Electric plant | $ | 1,869,563 | $ | 1,795,239 | |||||
Natural gas plant | 231,778 | 224,625 | |||||||
Common and other property | 112,514 | 111,319 | |||||||
Construction work in progress | 101,436 | 62,629 | |||||||
Total property, plant and equipment | 2,315,291 | 2,193,812 | |||||||
Less accumulated depreciation | (936,644 | ) | (895,576 | ) | |||||
$ | 1,378,647 | $ | 1,298,236 | ||||||
Income_Taxes
Income Taxes | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Income Tax Disclosure [Abstract] | |||||||||
Income Taxes | Income Taxes | ||||||||
Except to the extent noted below, the circumstances set forth in Note 6 to the consolidated financial statements included in NSP-Wisconsin’s Annual Report on Form 10-K for the year ended Dec. 31, 2012 appropriately represent, in all material respects, the current status of other income tax matters, and are incorporated herein by reference. | |||||||||
Federal Audit — NSP-Wisconsin is a member of the Xcel Energy affiliated group that files a consolidated federal income tax return. The statute of limitations applicable to Xcel Energy’s 2008 federal income tax return expired in September 2012. The statute of limitations applicable to Xcel Energy’s 2009 federal income tax return expires in June 2015. In the third quarter of 2012, the Internal Revenue Service (IRS) commenced an examination of tax years 2010 and 2011. As of Sept. 30, 2013, the IRS had not proposed any material adjustments to tax years 2010 and 2011. | |||||||||
State Audits — NSP-Wisconsin is a member of the Xcel Energy affiliated group that files consolidated state income tax returns. As of Sept. 30, 2013, NSP-Wisconsin’s earliest open tax year that is subject to examination by state taxing authorities under applicable statutes of limitations is 2009. In the first quarter of 2013, the state of Wisconsin commenced an examination of tax years 2009 through 2011. As of Sept. 30, 2013, no material adjustments had been proposed for these years. There are currently no other state income tax audits in progress. | |||||||||
Unrecognized Tax Benefits — The unrecognized tax benefit balance includes permanent tax positions, which if recognized would affect the annual effective tax rate (ETR). In addition, the unrecognized tax benefit balance includes temporary tax positions for which the ultimate deductibility is highly certain but for which there is uncertainty about the timing of such deductibility. A change in the period of deductibility would not affect the ETR but would accelerate the payment of cash to the taxing authority to an earlier period. | |||||||||
A reconciliation of the amount of unrecognized tax benefit is as follows: | |||||||||
(Millions of Dollars) | Sept. 30, 2013 | Dec. 31, 2012 | |||||||
Unrecognized tax benefit — Permanent tax positions | $ | 0.2 | $ | 0.1 | |||||
Unrecognized tax benefit — Temporary tax positions | 1.5 | 1.2 | |||||||
Total unrecognized tax benefit | $ | 1.7 | $ | 1.3 | |||||
The unrecognized tax benefit amounts were reduced by the tax benefits associated with net operating loss (NOL) and tax credit carryforwards. The amounts of tax benefits associated with NOL and tax credit carryforwards are as follows: | |||||||||
(Millions of Dollars) | Sept. 30, 2013 | Dec. 31, 2012 | |||||||
NOL and tax credit carryforwards | $ | (0.9 | ) | $ | (0.9 | ) | |||
It is reasonably possible that NSP-Wisconsin’s amount of unrecognized tax benefits could significantly change in the next 12 months as the IRS and state audits progress. As the IRS examination moves closer to completion, it is reasonably possible that the amount of unrecognized tax benefit could decrease up to approximately $1 million. | |||||||||
The payable for interest related to unrecognized tax benefits is partially offset by the interest benefit associated with NOL and tax credit carryforwards. The payables for interest related to unrecognized tax benefits at Sept. 30, 2013 and Dec. 31, 2012 were not material. No amounts were accrued for penalties related to unrecognized tax benefits as of Sept. 30, 2013 or Dec. 31, 2012. | |||||||||
Tangible Property Regulations — In September 2013, the U.S. Treasury issued final regulations addressing the tax consequences associated with the acquisition, production and improvement of tangible property. As NSP-Wisconsin had adopted certain utility-specific guidance previously issued by the IRS, the issuance is not expected to have a material impact on its consolidated financial statements. |
Rate_Matters_Notes
Rate Matters (Notes) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Public Utilities, General Disclosures [Abstract] | |||||||||
Rate Matters | Rate Matters | ||||||||
Except to the extent noted below, the circumstances set forth in Note 10 to the consolidated financial statements included in NSP-Wisconsin’s Annual Report on Form 10-K for the year ended Dec. 31, 2012 and in Note 5 to NSP-Wisconsin’s Quarterly Report on Form 10-Q for the quarter period ended March 31, 2013 and June 30, 2013, appropriately represent, in all material respects, the current status of other rate matters, and are incorporated herein by reference. | |||||||||
Pending Regulatory Proceedings — Public Service Commission of Wisconsin (PSCW) | |||||||||
Wisconsin 2014 Electric and Gas Rate Case — On May 31, 2013, NSP-Wisconsin filed a request with the PSCW to increase rates for electric and natural gas service effective Jan. 1, 2014. NSP-Wisconsin requested an overall increase in annual electric rates of $40.0 million, or 6.5 percent, and an increase in natural gas rates of $4.7 million, or 3.8 percent. | |||||||||
The rate filing is based on a 2014 forecast test year, a return on equity (ROE) of 10.4 percent, an equity ratio of 52.5 percent, and a forecasted average net investment rate base of approximately $895.3 million for the electric utility and $89.8 million for the natural gas utility. | |||||||||
On Oct. 4, 2013, the PSCW Staff filed their direct testimony and recommended an electric rate increase of $23.8 million, or 3.8 percent, and a natural gas rate decrease of $1.1 million, or 0.9 percent. PSCW Staff’s recommendations were based on a 10.2 percent ROE and a 52.5 percent equity ratio. | |||||||||
The most significant adjustments proposed by the PSCW Staff are shown in the table below: | |||||||||
(Millions of Dollars) | Electric | Natural Gas | |||||||
Staff Testimony | Staff Testimony | ||||||||
Oct-13 | Oct-13 | ||||||||
Rate request | $ | 40 | $ | 4.7 | |||||
Electric fuel and purchased power | (5.1 | ) | — | ||||||
Sales forecast | (4.8 | ) | — | ||||||
Incentive compensation and merit pay | (3.0 | ) | (0.6 | ) | |||||
ROE | (1.6 | ) | (0.2 | ) | |||||
Conservation funding transfer | 0.7 | (0.7 | ) | ||||||
Depreciation expense | (0.7 | ) | (1.3 | ) | |||||
Ashland site amortization expense | — | (2.3 | ) | ||||||
Other, net | (1.7 | ) | (0.7 | ) | |||||
Recommended rate increase (decrease) | $ | 23.8 | $ | (1.1 | ) | ||||
The majority of the adjustment to electric fuel and purchased power is the result of the PSCW Staff’s proposal to discontinue using the New York Mercantile Exchange (NYMEX) futures prices as a basis for setting the fuel price forecast and instead using a discounted percentage of the NYMEX futures prices. PSCW Staff’s sales forecast adjustment is based on the assumption that the strong sales growth trend from 2010 through 2012, primarily in the large commercial/industrial sector, will continue through 2013 and 2014, while NSP-Wisconsin’s forecast shows moderating growth. | |||||||||
On Oct. 18, 2013, NSP-Wisconsin filed rebuttal testimony, revising the requested electric rate increase to $34.0 million and natural gas rate increase to zero, based on a 10.4 percent ROE and other adjustments. | |||||||||
Next steps in the procedural schedule are as follows: | |||||||||
• | Surrebuttal testimony - Oct. 28, 2013; | ||||||||
• | Hearing - Oct. 30, 2013; | ||||||||
• | Initial brief - Nov. 13, 2013; and | ||||||||
• | Reply brief - Nov. 20, 2013. | ||||||||
A PSCW decision is anticipated in December 2013, with final rates going into effect in January 2014. |
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Commitments and Contingencies Disclosure [Abstract] | |||||||||
Commitments and Contingencies | Commitments and Contingencies | ||||||||
Except as noted below and in Note 5, the circumstances set forth in Notes 10 and 11 to the consolidated financial statements in NSP-Wisconsin’s Annual Report on Form 10-K for the year ended Dec. 31, 2012 appropriately represent, in all material respects, the current status of commitments and contingent liabilities and are incorporated herein by reference. The following include commitments, contingencies and unresolved contingencies that are material to NSP-Wisconsin’s financial position. | |||||||||
Guarantees — NSP-Wisconsin provides a guarantee for payment of customer loans related to NSP-Wisconsin’s farm rewiring program. NSP-Wisconsin’s exposure under the guarantee is based upon the net liability under the agreement. The guarantee issued by NSP-Wisconsin limits the exposure of NSP-Wisconsin to a maximum amount stated in the guarantee. The guarantee contains no recourse provisions and requires no collateral. | |||||||||
The following table presents the guarantee issued and outstanding for NSP-Wisconsin: | |||||||||
(Millions of Dollars) | Sept. 30, 2013 | Dec. 31, 2012 | |||||||
Guarantees issued and outstanding | $ | 1 | $ | 1 | |||||
Current exposure under these guarantees | 0.3 | 0.4 | |||||||
Environmental Contingencies | |||||||||
Ashland Manufactured Gas Plant (MGP) Site — NSP-Wisconsin has been named a potentially responsible party (PRP) for contamination at a site in Ashland, Wis. The Ashland/Northern States Power Lakefront Superfund Site (the Ashland site) includes property owned by NSP-Wisconsin, which was a site previously operated by a predecessor company as a MGP facility (the Upper Bluff), and two other properties: an adjacent city lakeshore park area (Kreher Park), on which an unaffiliated third party previously operated a sawmill and conducted creosote treating operations; and an area of Lake Superior’s Chequamegon Bay adjoining the park (the Sediments). | |||||||||
The U.S. Environmental Protection Agency (EPA) issued its Record of Decision (ROD) in 2010, which describes the preferred remedy the EPA has selected for the cleanup of the Ashland site. In 2011, the EPA issued special notice letters identifying several entities, including NSP-Wisconsin, as PRPs, for future remediation at the site. The special notice letters requested that those PRPs participate in negotiations with the EPA regarding how the PRPs intended to conduct or pay for the remediation at the Ashland site. As a result of those settlement negotiations, the EPA agreed to segment the Ashland site into separate areas. The first area (Phase I Project Area) includes soil and groundwater in Kreher Park and the Upper Bluff. The second area includes the Sediments. | |||||||||
In October 2012, a settlement among the EPA, the Wisconsin Department of Natural Resources (WDNR), the Bad River and Red Cliff Bands of the Lake Superior Tribe of Chippewa Indians and NSP-Wisconsin was approved by the U.S. District Court for the Western District of Wisconsin. This settlement resolves claims against NSP-Wisconsin for its alleged responsibility for the remediation of the Phase I Project Area. Under the terms of the settlement, NSP-Wisconsin agreed to perform the remediation of the Phase I Project Area, but does not admit any liability with respect to the Ashland site. The settlement reflects a cost estimate for the clean up of the Phase I Project Area of $40 million. The settlement also resolves claims by the federal, state and tribal trustees against NSP-Wisconsin for alleged natural resource damages at the Ashland site, including both the Phase I Project Area and the Sediments. As part of the settlement, NSP-Wisconsin has conveyed approximately 1,390 acres of land to the State of Wisconsin and tribal trustees. Fieldwork to address the Phase I Project Area at the Ashland site began at the end of 2012 and continues. | |||||||||
Negotiations between the EPA and NSP-Wisconsin regarding who will pay or perform the cleanup of the Sediments are ongoing. In August and September 2013, NSP-Wisconsin performed field studies in the Sediments to gather more data about site conditions. The data from that investigation will be received and reported in November 2013. Also, in September 2013, the EPA requested NSP-Wisconsin consider re-submitting another proposal to perform a wet dredge pilot study for a portion of the Sediments. NSP-Wisconsin previously submitted a proposal for a wet dredge pilot study in 2011. The EPA’s ROD for the Ashland site includes estimates that the cost of the preferred remediation related to the Sediments is between $63 million and $77 million, with a potential deviation in such estimated costs of up to 50 percent higher to 30 percent lower. | |||||||||
In August 2012, NSP-Wisconsin also filed litigation against other PRPs for their share of the cleanup costs for the Ashland site. Trial for this matter has been rescheduled for April 2015. Negotiations between the EPA, NSP-Wisconsin and several of the other PRPs regarding the PRPs’ fair share of the cleanup costs for the Ashland site are also ongoing. | |||||||||
At Sept. 30, 2013 and Dec. 31, 2012, NSP-Wisconsin had recorded a liability of $101.2 million and $103.7 million, respectively, for the Ashland site based upon potential remediation and design costs together with estimated outside legal and consultant costs; of which $19.5 million and $20.1 million, respectively, was considered a current liability. NSP-Wisconsin’s potential liability, the actual cost of remediation and the time frame over which the amounts may be paid are subject to change. NSP-Wisconsin also continues to work to identify and access state and federal funds to apply to the ultimate remediation cost of the entire site. Unresolved issues or factors that could result in higher or lower NSP-Wisconsin remediation costs for the Ashland site include the cleanup approach implemented for the Sediments, which party implements the cleanup, the timing of when the cleanup is implemented, potential contributions by other PRPs and whether federal or state funding may be directed to help offset remediation costs at the Ashland site. | |||||||||
NSP-Wisconsin has deferred the estimated site remediation costs, as a regulatory asset, based on an expectation that the PSCW will continue to allow NSP-Wisconsin to recover payments for environmental remediation from its customers. The PSCW has consistently authorized in NSP-Wisconsin rates recovery of all remediation costs incurred at the Ashland site, and has authorized recovery of MGP remediation costs by other Wisconsin utilities. External MGP remediation costs are subject to deferral in the Wisconsin retail jurisdiction and are reviewed for prudence as part of the Wisconsin retail rate case process. Under an existing PSCW policy, utilities have recovered remediation costs for MGPs in natural gas rates, amortized over a four- to six-year period. The PSCW historically has not allowed utilities to recover their carrying costs on unamortized regulatory assets for MGP remediation. | |||||||||
In the last rate case decision, the PSCW recognized the potential magnitude of the future liability for the cleanup at the Ashland site and granted an exception to its existing policy at the request of NSP-Wisconsin. The elements of this exception include: 1) approval to begin recovery of estimated Phase 1 Project costs beginning on Jan. 1, 2013; 2) approval to amortize these estimated costs over a ten-year period; and 3) approval to apply a three percent carrying cost to the unamortized regulatory asset. Implementation of this exception will help mitigate the rate impact to natural gas customers and the risk to NSP-Wisconsin from a longer amortization period. | |||||||||
Environmental Requirements | |||||||||
Greenhouse Gas (GHG) New Source Performance Standard (NSPS) Proposal and Emission Guideline for Existing Sources — In September 2013, the EPA re-proposed a GHG NSPS for newly constructed power plants which seeks to establish carbon dioxide (CO2) emission rates for coal-fired power plants that reflect emission reductions using partial carbon capture and storage technology (CCS). The EPA’s proposed CO2 emission limits for gas-fired power plants reflect emissions levels from combined cycle technology with no CCS. The EPA continues to propose that the NSPS not apply to modified or reconstructed existing power plants. In addition, installation of control equipment on existing plants would not constitute a “modification” to those plants under the NSPS program. It is not possible to evaluate the impact of the re-proposed NSPS until its final requirements are known. | |||||||||
In June 2013, President Obama issued a memorandum directing the EPA to develop GHG emission standards for existing power plants. The memorandum anticipates the EPA will issue a proposed GHG emission standard for existing power plants in June 2014. It is not possible to evaluate the impact of existing source standards until the upcoming proposal and final requirements are known. | |||||||||
Cross-State Air Pollution Rule (CSAPR) — In 2011, the EPA issued the CSAPR to address long range transport of particulate matter (PM) and ozone by requiring reductions in sulfur dioxide (SO2) and nitrogen oxide (NOx) from utilities in the eastern half of the United States, including Wisconsin. The CSAPR would have set more stringent requirements than the proposed Clean Air Transport Rule. The rule also would have created an emissions trading program. | |||||||||
In August 2012, the U.S. Court of Appeals for the District of Columbia Circuit (D.C. Circuit) vacated the CSAPR and remanded it back to the EPA. The D.C. Circuit stated that the EPA must continue administering the Clean Air Interstate Rule (CAIR) pending adoption of a valid replacement. In June 2013, the U.S. Supreme Court elected to review the D.C. Circuit’s 2012 decision to vacate the CSAPR. The Court has ordered the parties to file briefs in the appeal this fall and will hear arguments in December 2013. The Court will likely issue a decision by June 2014. | |||||||||
As the EPA continues administering the CAIR while the CSAPR or a replacement rule is pending, NSP-Wisconsin expects to comply with the CAIR as described below. | |||||||||
CAIR — In 2005, the EPA issued the CAIR to further regulate SO2 and NOx emissions. Under the CAIR’s cap and trade structure, companies can comply through capital investments in emission controls or purchase of emission allowances from other utilities making reductions on their systems. NSP-Wisconsin purchased allowances in 2012 and plans to continue to purchase allowances in 2013 to comply with the CAIR. At Sept. 30, 2013, the estimated annual CAIR NOx allowance cost for NSP-Wisconsin did not have a material impact on the results of operations, financial position or cash flows. | |||||||||
Federal Clean Water Act - Effluent Limitations Guidelines (ELG) — In June 2013, the EPA published a proposed ELG rule for power plants that use coal, natural gas, oil or nuclear materials as fuel and discharge treated effluent to surface waters as well as utility-owned landfills that receive coal combustion residuals. Refuse derived fuel, biomass and other alternatively fueled power plants are not addressed by the proposed revisions. The proposed rule identifies four potential regulatory options and invites comments on those regulatory approaches. The options differ in the number of waste streams covered, size of the units controlled and stringency of controls. A final rule is anticipated in 2014. Under the current proposed rule, facilities would need to comply as soon as possible after July 2017 but no later than July 2022. The impact of this rule on NSP-Wisconsin is uncertain at this time. | |||||||||
Legal Contingencies | |||||||||
NSP-Wisconsin is involved in various litigation matters that are being defended and handled in the ordinary course of business. The assessment of whether a loss is probable or is a reasonable possibility, and whether the loss or a range of loss is estimable, often involves a series of complex judgments about future events. Management maintains accruals for such losses that are probable of being incurred and subject to reasonable estimation. Management is sometimes unable to estimate an amount or range of a reasonably possible loss in certain situations, including but not limited to when (1) the damages sought are indeterminate, (2) the proceedings are in the early stages, or (3) the matters involve novel or unsettled legal theories. In such cases, there is considerable uncertainty regarding the timing or ultimate resolution of such matters, including a possible eventual loss. For current proceedings not specifically reported herein, management does not anticipate that the ultimate liabilities, if any, arising from such current proceedings would have a material effect on NSP-Wisconsin’s financial statements. Unless otherwise required by GAAP, legal fees are expensed as incurred. | |||||||||
Environmental Litigation | |||||||||
Comer vs. Xcel Energy Inc. et al. — In May 2011, less than a year after their initial lawsuit was dismissed, plaintiffs in this purported class action lawsuit filed a second lawsuit against more than 85 utility, oil, chemical and coal companies in the U.S. District Court in Mississippi. The complaint alleges defendants’ CO2 emissions intensified the strength of Hurricane Katrina and increased the damage plaintiffs purportedly sustained to their property. Plaintiffs base their claims on public and private nuisance, trespass and negligence. Among the defendants named in the complaint are Xcel Energy Inc., SPS, PSCo, NSP-Wisconsin and NSP-Minnesota. The amount of damages claimed by plaintiffs is unknown. The defendants believe this lawsuit is without merit and filed a motion to dismiss the lawsuit. In March 2012, the U.S. District Court granted this motion for dismissal. In April 2012, plaintiffs appealed this decision to the U.S. Court of Appeals for the Fifth Circuit. In May 2013, the Fifth Circuit affirmed the district court’s dismissal of this lawsuit. Plaintiffs elected not to seek further review of this decision, which brings this litigation to a close. No accrual was recorded for this matter. |
Borrowings_and_Other_Financing
Borrowings and Other Financing Instruments | 9 Months Ended | ||||||||||
Sep. 30, 2013 | |||||||||||
Debt Disclosure [Abstract] | |||||||||||
Borrowings and Other Financing Instruments | Borrowings and Other Financing Instruments | ||||||||||
Commercial Paper — NSP-Wisconsin meets its short-term liquidity requirements primarily through the issuance of commercial paper and borrowings under its credit facility. Commercial paper outstanding for NSP-Wisconsin was as follows: | |||||||||||
(Amounts in Millions, Except Interest Rates) | Three Months Ended Sept. 30, 2013 | Twelve Months Ended Dec. 31, 2012 | |||||||||
Borrowing limit | $ | 150 | $ | 150 | |||||||
Amount outstanding at period end | 11 | 39 | |||||||||
Average amount outstanding | 4 | 61 | |||||||||
Maximum amount outstanding | 19 | 116 | |||||||||
Weighted average interest rate, computed on a daily basis | 0.22 | % | 0.39 | % | |||||||
Weighted average interest rate at period end | 0.18 | 0.4 | |||||||||
Letters of Credit — NSP-Wisconsin may use letters of credit, generally with terms of one year, to provide financial guarantees for certain operating obligations. At Sept. 30, 2013 and Dec. 31, 2012, there were no letters of credit outstanding. | |||||||||||
Credit Facility — In order to use its commercial paper program to fulfill short-term funding needs, NSP-Wisconsin must have a revolving credit facility in place at least equal to the amount of its commercial paper borrowing limit and cannot issue commercial paper in an aggregate amount exceeding available capacity under this credit facility. The line of credit provides short-term financing in the form of notes payable to banks, letters of credit and back-up support for commercial paper borrowings. | |||||||||||
At Sept. 30, 2013, NSP-Wisconsin had the following committed credit facility available (in millions of dollars): | |||||||||||
Credit Facility (a) | Drawn (b) | Available | |||||||||
$ | 150 | $ | 11 | $ | 139 | ||||||
(a) | Credit facility expires in July 2017. | ||||||||||
(b) | Includes outstanding commercial paper. | ||||||||||
All credit facility bank borrowings, outstanding letters of credit and outstanding commercial paper reduce the available capacity under the credit facility. NSP-Wisconsin had no direct advances on the credit facility outstanding at Sept. 30, 2013 and Dec. 31, 2012. | |||||||||||
Other Short-Term Borrowings — The following table presents the notes payable of Clearwater Investments, Inc., a NSP-Wisconsin subsidiary, to Xcel Energy Inc.: | |||||||||||
(Amounts in Millions, Except Interest Rates) | Sept. 30, 2013 | Dec. 31, 2012 | |||||||||
Notes payable to affiliates | $ | 0.5 | $ | 0.6 | |||||||
Weighted average interest rate at period end | 0.25 | % | 0.33 | % |
Fair_Value_of_Financial_Assets
Fair Value of Financial Assets and Liabilities | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||
Fair Value of Financial Assets and Liabilities | Fair Value of Financial Assets and Liabilities | ||||||||||||||||||||||||
Fair Value Measurements | |||||||||||||||||||||||||
The accounting guidance for fair value measurements and disclosures provides a single definition of fair value and requires certain disclosures about assets and liabilities measured at fair value. A hierarchical framework for disclosing the observability of the inputs utilized in measuring assets and liabilities at fair value is established by this guidance. The three levels in the hierarchy are as follows: | |||||||||||||||||||||||||
Level 1 — Quoted prices are available in active markets for identical assets or liabilities as of the reporting date. The types of assets and liabilities included in Level 1 are highly liquid and actively traded instruments with quoted prices. | |||||||||||||||||||||||||
Level 2 — Pricing inputs are other than quoted prices in active markets, but are either directly or indirectly observable as of the reporting date. The types of assets and liabilities included in Level 2 are typically either comparable to actively traded securities or contracts or priced with discounted cash flow or option pricing models using highly observable inputs. | |||||||||||||||||||||||||
Level 3 — Significant inputs to pricing have little or no observability as of the reporting date. The types of assets and liabilities included in Level 3 are those valued with models requiring significant management judgment or estimation. | |||||||||||||||||||||||||
Specific valuation methods include the following: | |||||||||||||||||||||||||
Cash equivalents — The fair values of cash equivalents are generally based on cost plus accrued interest; money market funds are measured using quoted net asset values. | |||||||||||||||||||||||||
Interest rate derivatives — The fair values of interest rate derivatives are based on broker quotes that utilize current market interest rate forecasts. | |||||||||||||||||||||||||
Commodity derivatives — The methods used to measure the fair value of commodity derivative forwards and options utilize forward prices and volatilities, as well as pricing adjustments for specific delivery locations, and are generally assigned a Level 2. When contractual settlements extend to periods beyond those readily observable on active exchanges or quoted by brokers, the significance of the use of less observable forecasts of long-term forward prices and volatilities on a valuation is evaluated, and may result in Level 3 classification. | |||||||||||||||||||||||||
Derivative Instruments Fair Value Measurements | |||||||||||||||||||||||||
NSP-Wisconsin enters into derivative instruments, including forward contracts, futures, swaps and options, to manage risk in connection with changes in interest rates and utility commodity prices. | |||||||||||||||||||||||||
Interest Rate Derivatives — NSP-Wisconsin enters into various instruments that effectively fix the interest payments on certain floating rate debt obligations or effectively fix the yield or price on a specified benchmark interest rate for an anticipated debt issuance for a specific period. These derivative instruments are generally designated as cash flow hedges for accounting purposes. | |||||||||||||||||||||||||
At Sept. 30, 2013, accumulated other comprehensive loss related to interest rate derivatives included $0.1 million of net losses expected to be reclassified into earnings during the next 12 months as the related hedged interest rate transactions impact earnings. | |||||||||||||||||||||||||
There were immaterial pre-tax losses related to interest rate derivatives reclassified from accumulated other comprehensive loss into earnings during the three months ended Sept. 30, 2013 and 2012, and $0.1 million of net losses reclassified from accumulated other comprehensive loss into earnings during the nine months ended Sept. 30, 2013 and 2012. | |||||||||||||||||||||||||
Commodity Derivatives — NSP-Wisconsin may enter into derivative instruments to manage variability of future cash flows from changes in commodity prices in its electric and natural gas operations, including the sale of natural gas or the purchase of natural gas for resale. | |||||||||||||||||||||||||
The following table details the gross notional amounts of commodity forwards and options at Sept. 30, 2013 and Dec. 31, 2012: | |||||||||||||||||||||||||
(Amounts in Thousands) (a)(b) | Sept. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||
Million British thermal units (MMBtu) of natural gas | 853 | 53 | |||||||||||||||||||||||
(a) | Amounts are not reflective of net positions in the underlying commodities. | ||||||||||||||||||||||||
(b) | Notional amounts for options are included on a gross basis, but are weighted for the probability of exercise. | ||||||||||||||||||||||||
Consideration of Credit Risk and Concentrations — NSP-Wisconsin continuously monitors the creditworthiness of the counterparties to its interest rate and commodity derivative contracts prior to settlement, and assesses each counterparty’s ability to perform on the transactions set forth in the contracts. Given this assessment, as well as an assessment of the impact of NSP-Wisconsin’s own credit risk when determining the fair value of derivative liabilities, the impact of considering credit risk was immaterial to the fair value of commodity derivatives presented in the consolidated balance sheets. | |||||||||||||||||||||||||
NSP-Wisconsin employs additional credit risk control mechanisms when appropriate, such as letters of credit, parental guarantees, standardized master netting agreements and termination provisions that allow for offsetting of positive and negative exposures. Credit exposure is monitored and, when necessary, the activity with a specific counterparty is limited until credit enhancement is provided. | |||||||||||||||||||||||||
Financial Impact of Qualifying Cash Flow Hedges — The impact of qualifying interest rate cash flow hedges on NSP-Wisconsin’s accumulated other comprehensive loss, included as a component of common stockholder’s equity and in the consolidated statement of comprehensive income, is detailed in the following table: | |||||||||||||||||||||||||
Three Months Ended Sept. 30 | |||||||||||||||||||||||||
(Thousands of Dollars) | 2013 | 2012 | |||||||||||||||||||||||
Accumulated other comprehensive loss related to cash flow hedges at July 1 | $ | (400 | ) | $ | (476 | ) | |||||||||||||||||||
After-tax net realized losses on derivative transactions reclassified into earnings | 20 | 20 | |||||||||||||||||||||||
Accumulated other comprehensive loss related to cash flow hedges at Sept. 30 | $ | (380 | ) | $ | (456 | ) | |||||||||||||||||||
Nine Months Ended Sept. 30 | |||||||||||||||||||||||||
(Thousands of Dollars) | 2013 | 2012 | |||||||||||||||||||||||
Accumulated other comprehensive loss related to cash flow hedges at Jan. 1 | $ | (437 | ) | $ | (514 | ) | |||||||||||||||||||
After-tax net realized losses on derivative transactions reclassified into earnings | 57 | 58 | |||||||||||||||||||||||
Accumulated other comprehensive loss related to cash flow hedges at Sept. 30 | $ | (380 | ) | $ | (456 | ) | |||||||||||||||||||
During the three months ended Sept. 30, 2013, changes in the fair value of natural gas commodity derivatives resulted in net losses of $0.2 million, recognized as regulatory assets and liabilities. For the three months ended Sept. 30, 2012, changes in the fair value of natural gas commodity derivatives resulted in immaterial net gains recognized as regulatory assets and liabilities. During the nine months ended Sept. 30, 2013 and 2012, changes in the fair value of natural gas commodity derivatives resulted in net losses of $0.4 million recognized as regulatory assets and liabilities. The classification as a regulatory asset or liability is based on commission approved regulatory recovery mechanisms. | |||||||||||||||||||||||||
Natural gas commodity derivatives settlement losses of $2.9 million were recognized during the nine months ended Sept. 30, 2012, and were subject to purchased natural gas cost recovery mechanisms, which result in reclassifications of derivative settlement gains and losses out of income to a regulatory asset or liability, as appropriate. Such losses for the three and nine months ended Sept. 30, 2013, and the three months ended Sept. 30, 2012, were immaterial. | |||||||||||||||||||||||||
NSP-Wisconsin had no derivative instruments designated as fair value hedges during the three and nine months ended Sept. 30, 2013 and 2012. | |||||||||||||||||||||||||
Recurring Fair Value Measurements — The following table presents for each of the fair value hierarchy levels, NSP-Wisconsin’s derivative assets and liabilities measured at fair value on a recurring basis at Sept. 30, 2013 and Dec. 31, 2012: | |||||||||||||||||||||||||
Sept. 30, 2013 | |||||||||||||||||||||||||
Fair Value | |||||||||||||||||||||||||
(Thousands of Dollars) | Level 1 | Level 2 | Level 3 | Fair Value | Counterparty | Total (b) | |||||||||||||||||||
Total | Netting (a) | ||||||||||||||||||||||||
Current derivative assets | |||||||||||||||||||||||||
Natural gas commodity | $ | — | $ | 346 | $ | — | $ | 346 | $ | — | $ | 346 | |||||||||||||
Dec. 31, 2012 | |||||||||||||||||||||||||
Fair Value | |||||||||||||||||||||||||
(Thousands of Dollars) | Level 1 | Level 2 | Level 3 | Fair Value | Counterparty | Total (c) | |||||||||||||||||||
Total | Netting (a) | ||||||||||||||||||||||||
Current derivative liabilities | |||||||||||||||||||||||||
Natural gas commodity | $ | — | $ | 11 | $ | — | $ | 11 | $ | — | $ | 11 | |||||||||||||
(a) | NSP-Wisconsin nets derivative instruments and related collateral in its consolidated balance sheet when supported by a legally enforceable master netting agreement, and all derivative instruments and related collateral amounts were subject to master netting agreements at Sept. 30, 2013 and Dec. 31, 2012. The counterparty netting amounts presented exclude settlement receivables and payables and non-derivative amounts that may be subject to the same master netting agreements. | ||||||||||||||||||||||||
(b) | Included in other current assets balance of $2.9 million at Sept. 30, 2013 in the consolidated balance sheets. | ||||||||||||||||||||||||
(c) | Included in other current liabilities balance of $11.0 million at Dec. 31, 2012 in the consolidated balance sheets. | ||||||||||||||||||||||||
Fair Value of Long-Term Debt | |||||||||||||||||||||||||
As of Sept. 30, 2013 and Dec. 31, 2012, other financial instruments for which the carrying amount did not equal fair value were as follows: | |||||||||||||||||||||||||
Sept. 30, 2013 | Dec. 31, 2012 | ||||||||||||||||||||||||
(Thousands of Dollars) | Carrying Amount | Fair Value | Carrying Amount | Fair Value | |||||||||||||||||||||
Long-term debt, including current portion | $ | 468,614 | $ | 531,932 | $ | 468,563 | $ | 576,353 | |||||||||||||||||
The fair value of NSP-Wisconsin’s long-term debt is estimated based on recent trades and observable spreads from benchmark interest rates for similar securities. The fair value estimates are based on information available to management as of Sept. 30, 2013 and Dec. 31, 2012, and given the observability of the inputs to these estimates, the fair values presented for long-term debt have been assigned a Level 2. |
Other_Expense_Income_Net
Other (Expense) Income, Net | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Other Income and Expenses [Abstract] | |||||||||||||||||
Other (Expense) Income, Net | Other (Expense) Income, Net | ||||||||||||||||
Other (expense) income, net consisted of the following: | |||||||||||||||||
Three Months Ended Sept. 30 | Nine Months Ended Sept. 30 | ||||||||||||||||
(Thousands of Dollars) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Interest income | $ | 23 | $ | 18 | $ | 419 | $ | 650 | |||||||||
Other nonoperating income | 38 | 18 | 108 | 57 | |||||||||||||
Insurance policy expense | (119 | ) | (121 | ) | (310 | ) | (332 | ) | |||||||||
Other nonoperating expense | (3 | ) | — | (8 | ) | — | |||||||||||
Other (expense) income, net | $ | (61 | ) | $ | (85 | ) | $ | 209 | $ | 375 | |||||||
Segment_Information
Segment Information | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||||||
Segment Information | Segment Information | ||||||||||||||||||||
Operating results from the regulated electric utility and regulated natural gas utility are each separately and regularly reviewed by NSP-Wisconsin’s chief operating decision maker. NSP-Wisconsin evaluates performance based on profit or loss generated from the product or service provided. These segments are managed separately because the revenue streams are dependent upon regulated rate recovery, which is separately determined for each segment. | |||||||||||||||||||||
NSP-Wisconsin has the following reportable segments: regulated electric utility, regulated natural gas utility and all other. | |||||||||||||||||||||
• | NSP-Wisconsin’s regulated electric utility segment generates electricity which is transmitted and distributed in Wisconsin and Michigan. In addition, this segment includes sales for resale and provides wholesale transmission service to various entities primarily in Wisconsin. | ||||||||||||||||||||
• | NSP-Wisconsin’s regulated natural gas utility segment purchases, transports, stores and distributes natural gas in portions of Wisconsin and Michigan. | ||||||||||||||||||||
• | Revenues from operating segments not included above are below the necessary quantitative thresholds and are therefore included in the all other category. Those primarily include investments in rental housing projects that qualify for low-income housing tax credits. | ||||||||||||||||||||
Asset and capital expenditure information is not provided for NSP-Wisconsin’s reportable segments because as an integrated electric and natural gas utility, NSP-Wisconsin operates significant assets that are not dedicated to a specific business segment, and reporting assets and capital expenditures by business segment would require arbitrary and potentially misleading allocations which may not necessarily reflect the assets that would be required for the operation of the business segments on a stand-alone basis. | |||||||||||||||||||||
To report income from continuing operations for regulated electric and regulated natural gas utility segments, the majority of costs are directly assigned to each segment. However, some costs, such as common depreciation, common operating and maintenance (O&M) expenses and interest expense are allocated based on cost causation allocators. A general allocator is used for certain general and administrative expenses, including office supplies, rent, property insurance and general advertising. | |||||||||||||||||||||
(Thousands of Dollars) | Regulated | Regulated | All | Reconciling | Consolidated | ||||||||||||||||
Electric | Natural Gas | Other | Eliminations | Total | |||||||||||||||||
Three Months Ended Sept. 30, 2013 | |||||||||||||||||||||
Operating revenues from external customers | $ | 216,545 | $ | 14,266 | $ | 249 | $ | — | $ | 231,060 | |||||||||||
Intersegment revenues | 89 | 962 | — | (1,051 | ) | — | |||||||||||||||
Total revenues | $ | 216,634 | $ | 15,228 | $ | 249 | $ | (1,051 | ) | $ | 231,060 | ||||||||||
Net income (loss) | $ | 22,859 | $ | (1,726 | ) | $ | 880 | $ | — | $ | 22,013 | ||||||||||
(Thousands of Dollars) | Regulated | Regulated | All | Reconciling | Consolidated | ||||||||||||||||
Electric | Natural Gas | Other | Eliminations | Total | |||||||||||||||||
Three Months Ended Sept. 30, 2012 | |||||||||||||||||||||
Operating revenues from external customers | $ | 214,426 | $ | 11,742 | $ | 307 | $ | — | $ | 226,475 | |||||||||||
Intersegment revenues | 82 | 321 | — | (403 | ) | — | |||||||||||||||
Total revenues | $ | 214,508 | $ | 12,063 | $ | 307 | $ | (403 | ) | $ | 226,475 | ||||||||||
Net income (loss) | $ | 21,743 | $ | (1,461 | ) | $ | 1,918 | $ | — | $ | 22,200 | ||||||||||
(Thousands of Dollars) | Regulated | Regulated | All | Reconciling | Consolidated | ||||||||||||||||
Electric | Natural Gas | Other | Eliminations | Total | |||||||||||||||||
Nine Months Ended Sept. 30, 2013 | |||||||||||||||||||||
Operating revenues from external customers | $ | 592,730 | $ | 89,178 | $ | 742 | $ | — | $ | 682,650 | |||||||||||
Intersegment revenues | 250 | 1,549 | — | (1,799 | ) | — | |||||||||||||||
Total revenues | $ | 592,980 | $ | 90,727 | $ | 742 | $ | (1,799 | ) | $ | 682,650 | ||||||||||
Net income | $ | 46,530 | $ | 4,100 | $ | 1,612 | $ | — | $ | 52,242 | |||||||||||
(Thousands of Dollars) | Regulated | Regulated | All | Reconciling | Consolidated | ||||||||||||||||
Electric | Natural Gas | Other | Eliminations | Total | |||||||||||||||||
Nine Months Ended Sept. 30, 2012 | |||||||||||||||||||||
Operating revenues from external customers | $ | 575,532 | $ | 68,064 | $ | 851 | $ | — | $ | 644,447 | |||||||||||
Intersegment revenues | 278 | 585 | — | (863 | ) | — | |||||||||||||||
Total revenues | $ | 575,810 | $ | 68,649 | $ | 851 | $ | (863 | ) | $ | 644,447 | ||||||||||
Net income | $ | 39,118 | $ | 992 | $ | 2,710 | $ | — | $ | 42,820 | |||||||||||
Benefit_Plans_and_Other_Postre
Benefit Plans and Other Postretirement Benefits | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | |||||||||||||||||
Benefit Plans and Other Postretirement Benefits | Benefit Plans and Other Postretirement Benefits | ||||||||||||||||
Components of Net Periodic Benefit Cost | |||||||||||||||||
Three Months Ended Sept. 30 | |||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
(Thousands of Dollars) | Pension Benefits | Postretirement Health | |||||||||||||||
Care Benefits | |||||||||||||||||
Service cost | $ | 1,421 | $ | 1,142 | $ | 6 | $ | 5 | |||||||||
Interest cost | 1,731 | 1,918 | 190 | 268 | |||||||||||||
Expected return on plan assets | (2,499 | ) | (2,622 | ) | (11 | ) | (13 | ) | |||||||||
Amortization of transition obligation | — | — | — | 42 | |||||||||||||
Amortization of prior service cost (credit) | 104 | 442 | (88 | ) | (4 | ) | |||||||||||
Amortization of net loss | 1,981 | 1,460 | 241 | 123 | |||||||||||||
Net benefit cost recognized for financial reporting | $ | 2,738 | $ | 2,340 | $ | 338 | $ | 421 | |||||||||
Nine Months Ended Sept. 30 | |||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
(Thousands of Dollars) | Pension Benefits | Postretirement Health | |||||||||||||||
Care Benefits | |||||||||||||||||
Service cost | $ | 4,262 | $ | 3,426 | $ | 18 | $ | 15 | |||||||||
Interest cost | 5,193 | 5,753 | 570 | 806 | |||||||||||||
Expected return on plan assets | (7,496 | ) | (7,867 | ) | (32 | ) | (38 | ) | |||||||||
Amortization of transition obligation | — | — | — | 128 | |||||||||||||
Amortization of prior service cost (credit) | 312 | 1,328 | (264 | ) | (11 | ) | |||||||||||
Amortization of net loss | 5,943 | 4,382 | 723 | 365 | |||||||||||||
Net benefit cost recognized for financial reporting | $ | 8,214 | $ | 7,022 | $ | 1,015 | $ | 1,265 | |||||||||
In 2013, contributions of $192.2 million were made across four of Xcel Energy’s pension plans, of which $11.3 million was attributable to NSP-Wisconsin. Xcel Energy does not expect additional pension contributions during 2013. |
Other_Comprehensive_Income
Other Comprehensive Income | 9 Months Ended | |||||||||
Sep. 30, 2013 | ||||||||||
Stockholders' Equity Note [Abstract] | ||||||||||
Other Comprehensive Income | Other Comprehensive Income | |||||||||
Changes in accumulated other comprehensive loss, net of tax, for the three and nine months ended Sept. 30, 2013 were as follows: | ||||||||||
(Thousands of Dollars) | Gains and | |||||||||
Losses on Cash | ||||||||||
Flow Hedges | ||||||||||
Accumulated other comprehensive loss at July 1 | $ | (400 | ) | |||||||
Losses reclassified from net accumulated other comprehensive loss | 20 | |||||||||
Net current period other comprehensive income | 20 | |||||||||
Accumulated other comprehensive loss at Sept. 30 | $ | (380 | ) | |||||||
(Thousands of Dollars) | Gains and | |||||||||
Losses on Cash | ||||||||||
Flow Hedges | ||||||||||
Accumulated other comprehensive loss at Jan. 1 | $ | (437 | ) | |||||||
Losses reclassified from net accumulated other comprehensive loss | 57 | |||||||||
Net current period other comprehensive income | 57 | |||||||||
Accumulated other comprehensive loss at Sept. 30 | $ | (380 | ) | |||||||
Reclassifications from accumulated other comprehensive loss for the three and nine months ended Sept. 30, 2013 were as follows: | ||||||||||
Amounts Reclassified from | ||||||||||
Accumulated Other | ||||||||||
Comprehensive Loss | ||||||||||
(Thousands of Dollars) | Three Months Ended Sept. 30, 2013 | Nine Months Ended Sept. 30, 2013 | ||||||||
Losses on cash flow hedges: | ||||||||||
Interest rate derivatives | $ | 32 | (a) | $ | 95 | (a) | ||||
Total, pre-tax | 32 | 95 | ||||||||
Tax benefit | (12 | ) | (38 | ) | ||||||
Total amounts reclassified, net of tax | $ | 20 | $ | 57 | ||||||
(a) | Included in interest charges. |
Selected_Balance_Sheet_Data_Ta
Selected Balance Sheet Data (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Balance Sheet Related Disclosures [Abstract] | |||||||||
Accounts Receivable, Net | |||||||||
(Thousands of Dollars) | Sept. 30, 2013 | Dec. 31, 2012 | |||||||
Accounts receivable, net (a) | |||||||||
Accounts receivable | $ | 52,596 | $ | 55,039 | |||||
Less allowance for bad debts | (4,477 | ) | (4,333 | ) | |||||
$ | 48,119 | $ | 50,706 | ||||||
(a) Accounts receivable, net includes $14 and $586 due from affiliates as of Sept. 30, 2013 and Dec. 31, 2012, respectively. | |||||||||
Inventories | |||||||||
(Thousands of Dollars) | Sept. 30, 2013 | Dec. 31, 2012 | |||||||
Inventories | |||||||||
Materials and supplies | $ | 6,406 | $ | 6,172 | |||||
Fuel | 5,771 | 6,664 | |||||||
Natural gas | 10,822 | 6,849 | |||||||
$ | 22,999 | $ | 19,685 | ||||||
Property, Plant and Equipment, Net | |||||||||
(Thousands of Dollars) | Sept. 30, 2013 | Dec. 31, 2012 | |||||||
Property, plant and equipment, net | |||||||||
Electric plant | $ | 1,869,563 | $ | 1,795,239 | |||||
Natural gas plant | 231,778 | 224,625 | |||||||
Common and other property | 112,514 | 111,319 | |||||||
Construction work in progress | 101,436 | 62,629 | |||||||
Total property, plant and equipment | 2,315,291 | 2,193,812 | |||||||
Less accumulated depreciation | (936,644 | ) | (895,576 | ) | |||||
$ | 1,378,647 | $ | 1,298,236 | ||||||
Income_Taxes_Tables
Income Taxes (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Income Tax Disclosure [Abstract] | |||||||||
Reconciliation of Unrecognized Tax Benefits | A reconciliation of the amount of unrecognized tax benefit is as follows: | ||||||||
(Millions of Dollars) | Sept. 30, 2013 | Dec. 31, 2012 | |||||||
Unrecognized tax benefit — Permanent tax positions | $ | 0.2 | $ | 0.1 | |||||
Unrecognized tax benefit — Temporary tax positions | 1.5 | 1.2 | |||||||
Total unrecognized tax benefit | $ | 1.7 | $ | 1.3 | |||||
Tax Benefits Associated with NOL and Tax Credit Carryforwards | The unrecognized tax benefit amounts were reduced by the tax benefits associated with net operating loss (NOL) and tax credit carryforwards. The amounts of tax benefits associated with NOL and tax credit carryforwards are as follows: | ||||||||
(Millions of Dollars) | Sept. 30, 2013 | Dec. 31, 2012 | |||||||
NOL and tax credit carryforwards | $ | (0.9 | ) | $ | (0.9 | ) |
Rate_Matters_Rate_Matters_Tabl
Rate Matters Rate Matters (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Public Utilities, General Disclosure [Abstract] | |||||||||
PSCW Staff signficant adjustments to the NSP-Wisconsin 2014 Electric and Gas Rate Case [Table Text Block] | The most significant adjustments proposed by the PSCW Staff are shown in the table below: | ||||||||
(Millions of Dollars) | Electric | Natural Gas | |||||||
Staff Testimony | Staff Testimony | ||||||||
Oct-13 | Oct-13 | ||||||||
Rate request | $ | 40 | $ | 4.7 | |||||
Electric fuel and purchased power | (5.1 | ) | — | ||||||
Sales forecast | (4.8 | ) | — | ||||||
Incentive compensation and merit pay | (3.0 | ) | (0.6 | ) | |||||
ROE | (1.6 | ) | (0.2 | ) | |||||
Conservation funding transfer | 0.7 | (0.7 | ) | ||||||
Depreciation expense | (0.7 | ) | (1.3 | ) | |||||
Ashland site amortization expense | — | (2.3 | ) | ||||||
Other, net | (1.7 | ) | (0.7 | ) | |||||
Recommended rate increase (decrease) | $ | 23.8 | $ | (1.1 | ) | ||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Commitments and Contingencies Disclosure [Abstract] | |||||||||
Guarantee Issued and Outstanding | The following table presents the guarantee issued and outstanding for NSP-Wisconsin: | ||||||||
(Millions of Dollars) | Sept. 30, 2013 | Dec. 31, 2012 | |||||||
Guarantees issued and outstanding | $ | 1 | $ | 1 | |||||
Current exposure under these guarantees | 0.3 | 0.4 | |||||||
Borrowings_and_Other_Financing1
Borrowings and Other Financing Instruments (Tables) | 9 Months Ended | ||||||||||
Sep. 30, 2013 | |||||||||||
Debt Instruments [Abstract] | |||||||||||
Committed Credit Facility Available | At Sept. 30, 2013, NSP-Wisconsin had the following committed credit facility available (in millions of dollars): | ||||||||||
Credit Facility (a) | Drawn (b) | Available | |||||||||
$ | 150 | $ | 11 | $ | 139 | ||||||
(a) | Credit facility expires in July 2017. | ||||||||||
(b) | Includes outstanding commercial paper. | ||||||||||
Commercial Paper | |||||||||||
Debt Instruments [Abstract] | |||||||||||
Short-Term Borrowings | Commercial Paper — NSP-Wisconsin meets its short-term liquidity requirements primarily through the issuance of commercial paper and borrowings under its credit facility. Commercial paper outstanding for NSP-Wisconsin was as follows: | ||||||||||
(Amounts in Millions, Except Interest Rates) | Three Months Ended Sept. 30, 2013 | Twelve Months Ended Dec. 31, 2012 | |||||||||
Borrowing limit | $ | 150 | $ | 150 | |||||||
Amount outstanding at period end | 11 | 39 | |||||||||
Average amount outstanding | 4 | 61 | |||||||||
Maximum amount outstanding | 19 | 116 | |||||||||
Weighted average interest rate, computed on a daily basis | 0.22 | % | 0.39 | % | |||||||
Weighted average interest rate at period end | 0.18 | 0.4 | |||||||||
Intercompany Borrowing Arrangement | |||||||||||
Debt Instruments [Abstract] | |||||||||||
Short-Term Borrowings | Other Short-Term Borrowings — The following table presents the notes payable of Clearwater Investments, Inc., a NSP-Wisconsin subsidiary, to Xcel Energy Inc.: | ||||||||||
(Amounts in Millions, Except Interest Rates) | Sept. 30, 2013 | Dec. 31, 2012 | |||||||||
Notes payable to affiliates | $ | 0.5 | $ | 0.6 | |||||||
Weighted average interest rate at period end | 0.25 | % | 0.33 | % |
Fair_Value_of_Financial_Assets1
Fair Value of Financial Assets and Liabilities (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||
Gross Notional Amounts of Commodity Forwards and Options | The following table details the gross notional amounts of commodity forwards and options at Sept. 30, 2013 and Dec. 31, 2012: | ||||||||||||||||||||||||
(Amounts in Thousands) (a)(b) | Sept. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||
Million British thermal units (MMBtu) of natural gas | 853 | 53 | |||||||||||||||||||||||
(a) | Amounts are not reflective of net positions in the underlying commodities. | ||||||||||||||||||||||||
(b) | Notional amounts for options are included on a gross basis, but are weighted for the probability of exercise. | ||||||||||||||||||||||||
Financial Impact of Qualifying Cash Flow Hedges on Accumulated Other Comprehensive Loss | Financial Impact of Qualifying Cash Flow Hedges — The impact of qualifying interest rate cash flow hedges on NSP-Wisconsin’s accumulated other comprehensive loss, included as a component of common stockholder’s equity and in the consolidated statement of comprehensive income, is detailed in the following table: | ||||||||||||||||||||||||
Three Months Ended Sept. 30 | |||||||||||||||||||||||||
(Thousands of Dollars) | 2013 | 2012 | |||||||||||||||||||||||
Accumulated other comprehensive loss related to cash flow hedges at July 1 | $ | (400 | ) | $ | (476 | ) | |||||||||||||||||||
After-tax net realized losses on derivative transactions reclassified into earnings | 20 | 20 | |||||||||||||||||||||||
Accumulated other comprehensive loss related to cash flow hedges at Sept. 30 | $ | (380 | ) | $ | (456 | ) | |||||||||||||||||||
Nine Months Ended Sept. 30 | |||||||||||||||||||||||||
(Thousands of Dollars) | 2013 | 2012 | |||||||||||||||||||||||
Accumulated other comprehensive loss related to cash flow hedges at Jan. 1 | $ | (437 | ) | $ | (514 | ) | |||||||||||||||||||
After-tax net realized losses on derivative transactions reclassified into earnings | 57 | 58 | |||||||||||||||||||||||
Accumulated other comprehensive loss related to cash flow hedges at Sept. 30 | $ | (380 | ) | $ | (456 | ) | |||||||||||||||||||
Derivative Assets and Liabilities Measured at Fair Value on a Recurring Basis by Hierarchy Level | Recurring Fair Value Measurements — The following table presents for each of the fair value hierarchy levels, NSP-Wisconsin’s derivative assets and liabilities measured at fair value on a recurring basis at Sept. 30, 2013 and Dec. 31, 2012: | ||||||||||||||||||||||||
Sept. 30, 2013 | |||||||||||||||||||||||||
Fair Value | |||||||||||||||||||||||||
(Thousands of Dollars) | Level 1 | Level 2 | Level 3 | Fair Value | Counterparty | Total (b) | |||||||||||||||||||
Total | Netting (a) | ||||||||||||||||||||||||
Current derivative assets | |||||||||||||||||||||||||
Natural gas commodity | $ | — | $ | 346 | $ | — | $ | 346 | $ | — | $ | 346 | |||||||||||||
Dec. 31, 2012 | |||||||||||||||||||||||||
Fair Value | |||||||||||||||||||||||||
(Thousands of Dollars) | Level 1 | Level 2 | Level 3 | Fair Value | Counterparty | Total (c) | |||||||||||||||||||
Total | Netting (a) | ||||||||||||||||||||||||
Current derivative liabilities | |||||||||||||||||||||||||
Natural gas commodity | $ | — | $ | 11 | $ | — | $ | 11 | $ | — | $ | 11 | |||||||||||||
(a) | NSP-Wisconsin nets derivative instruments and related collateral in its consolidated balance sheet when supported by a legally enforceable master netting agreement, and all derivative instruments and related collateral amounts were subject to master netting agreements at Sept. 30, 2013 and Dec. 31, 2012. The counterparty netting amounts presented exclude settlement receivables and payables and non-derivative amounts that may be subject to the same master netting agreements. | ||||||||||||||||||||||||
(b) | Included in other current assets balance of $2.9 million at Sept. 30, 2013 in the consolidated balance sheets. | ||||||||||||||||||||||||
(c) | Included in other current liabilities balance of $11.0 million at Dec. 31, 2012 in the consolidated balance sheets. | ||||||||||||||||||||||||
Carrying Amount and Fair Value of Long-term Debt | As of Sept. 30, 2013 and Dec. 31, 2012, other financial instruments for which the carrying amount did not equal fair value were as follows: | ||||||||||||||||||||||||
Sept. 30, 2013 | Dec. 31, 2012 | ||||||||||||||||||||||||
(Thousands of Dollars) | Carrying Amount | Fair Value | Carrying Amount | Fair Value | |||||||||||||||||||||
Long-term debt, including current portion | $ | 468,614 | $ | 531,932 | $ | 468,563 | $ | 576,353 | |||||||||||||||||
Other_Expense_Income_Net_Table
Other (Expense) Income, Net (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Other Income and Expenses [Abstract] | |||||||||||||||||
Other (Expense) Income, Net | Other (expense) income, net consisted of the following: | ||||||||||||||||
Three Months Ended Sept. 30 | Nine Months Ended Sept. 30 | ||||||||||||||||
(Thousands of Dollars) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Interest income | $ | 23 | $ | 18 | $ | 419 | $ | 650 | |||||||||
Other nonoperating income | 38 | 18 | 108 | 57 | |||||||||||||
Insurance policy expense | (119 | ) | (121 | ) | (310 | ) | (332 | ) | |||||||||
Other nonoperating expense | (3 | ) | — | (8 | ) | — | |||||||||||
Other (expense) income, net | $ | (61 | ) | $ | (85 | ) | $ | 209 | $ | 375 | |||||||
Segment_Information_Tables
Segment Information (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||||||
Results from Continuing Operations by Reportable Segment | |||||||||||||||||||||
(Thousands of Dollars) | Regulated | Regulated | All | Reconciling | Consolidated | ||||||||||||||||
Electric | Natural Gas | Other | Eliminations | Total | |||||||||||||||||
Three Months Ended Sept. 30, 2013 | |||||||||||||||||||||
Operating revenues from external customers | $ | 216,545 | $ | 14,266 | $ | 249 | $ | — | $ | 231,060 | |||||||||||
Intersegment revenues | 89 | 962 | — | (1,051 | ) | — | |||||||||||||||
Total revenues | $ | 216,634 | $ | 15,228 | $ | 249 | $ | (1,051 | ) | $ | 231,060 | ||||||||||
Net income (loss) | $ | 22,859 | $ | (1,726 | ) | $ | 880 | $ | — | $ | 22,013 | ||||||||||
(Thousands of Dollars) | Regulated | Regulated | All | Reconciling | Consolidated | ||||||||||||||||
Electric | Natural Gas | Other | Eliminations | Total | |||||||||||||||||
Three Months Ended Sept. 30, 2012 | |||||||||||||||||||||
Operating revenues from external customers | $ | 214,426 | $ | 11,742 | $ | 307 | $ | — | $ | 226,475 | |||||||||||
Intersegment revenues | 82 | 321 | — | (403 | ) | — | |||||||||||||||
Total revenues | $ | 214,508 | $ | 12,063 | $ | 307 | $ | (403 | ) | $ | 226,475 | ||||||||||
Net income (loss) | $ | 21,743 | $ | (1,461 | ) | $ | 1,918 | $ | — | $ | 22,200 | ||||||||||
(Thousands of Dollars) | Regulated | Regulated | All | Reconciling | Consolidated | ||||||||||||||||
Electric | Natural Gas | Other | Eliminations | Total | |||||||||||||||||
Nine Months Ended Sept. 30, 2013 | |||||||||||||||||||||
Operating revenues from external customers | $ | 592,730 | $ | 89,178 | $ | 742 | $ | — | $ | 682,650 | |||||||||||
Intersegment revenues | 250 | 1,549 | — | (1,799 | ) | — | |||||||||||||||
Total revenues | $ | 592,980 | $ | 90,727 | $ | 742 | $ | (1,799 | ) | $ | 682,650 | ||||||||||
Net income | $ | 46,530 | $ | 4,100 | $ | 1,612 | $ | — | $ | 52,242 | |||||||||||
(Thousands of Dollars) | Regulated | Regulated | All | Reconciling | Consolidated | ||||||||||||||||
Electric | Natural Gas | Other | Eliminations | Total | |||||||||||||||||
Nine Months Ended Sept. 30, 2012 | |||||||||||||||||||||
Operating revenues from external customers | $ | 575,532 | $ | 68,064 | $ | 851 | $ | — | $ | 644,447 | |||||||||||
Intersegment revenues | 278 | 585 | — | (863 | ) | — | |||||||||||||||
Total revenues | $ | 575,810 | $ | 68,649 | $ | 851 | $ | (863 | ) | $ | 644,447 | ||||||||||
Net income | $ | 39,118 | $ | 992 | $ | 2,710 | $ | — | $ | 42,820 | |||||||||||
Benefit_Plans_and_Other_Postre1
Benefit Plans and Other Postretirement Benefits (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | |||||||||||||||||
Components of Net Periodic Benefit Cost | Components of Net Periodic Benefit Cost | ||||||||||||||||
Three Months Ended Sept. 30 | |||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
(Thousands of Dollars) | Pension Benefits | Postretirement Health | |||||||||||||||
Care Benefits | |||||||||||||||||
Service cost | $ | 1,421 | $ | 1,142 | $ | 6 | $ | 5 | |||||||||
Interest cost | 1,731 | 1,918 | 190 | 268 | |||||||||||||
Expected return on plan assets | (2,499 | ) | (2,622 | ) | (11 | ) | (13 | ) | |||||||||
Amortization of transition obligation | — | — | — | 42 | |||||||||||||
Amortization of prior service cost (credit) | 104 | 442 | (88 | ) | (4 | ) | |||||||||||
Amortization of net loss | 1,981 | 1,460 | 241 | 123 | |||||||||||||
Net benefit cost recognized for financial reporting | $ | 2,738 | $ | 2,340 | $ | 338 | $ | 421 | |||||||||
Nine Months Ended Sept. 30 | |||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
(Thousands of Dollars) | Pension Benefits | Postretirement Health | |||||||||||||||
Care Benefits | |||||||||||||||||
Service cost | $ | 4,262 | $ | 3,426 | $ | 18 | $ | 15 | |||||||||
Interest cost | 5,193 | 5,753 | 570 | 806 | |||||||||||||
Expected return on plan assets | (7,496 | ) | (7,867 | ) | (32 | ) | (38 | ) | |||||||||
Amortization of transition obligation | — | — | — | 128 | |||||||||||||
Amortization of prior service cost (credit) | 312 | 1,328 | (264 | ) | (11 | ) | |||||||||||
Amortization of net loss | 5,943 | 4,382 | 723 | 365 | |||||||||||||
Net benefit cost recognized for financial reporting | $ | 8,214 | $ | 7,022 | $ | 1,015 | $ | 1,265 | |||||||||
Other_Comprehensive_Income_Tab
Other Comprehensive Income (Tables) | 9 Months Ended | |||||||||
Sep. 30, 2013 | ||||||||||
Stockholders' Equity Note [Abstract] | ||||||||||
Changes in Accumulated Other Comprehensive Loss, Net of Tax | Changes in accumulated other comprehensive loss, net of tax, for the three and nine months ended Sept. 30, 2013 were as follows: | |||||||||
(Thousands of Dollars) | Gains and | |||||||||
Losses on Cash | ||||||||||
Flow Hedges | ||||||||||
Accumulated other comprehensive loss at July 1 | $ | (400 | ) | |||||||
Losses reclassified from net accumulated other comprehensive loss | 20 | |||||||||
Net current period other comprehensive income | 20 | |||||||||
Accumulated other comprehensive loss at Sept. 30 | $ | (380 | ) | |||||||
(Thousands of Dollars) | Gains and | |||||||||
Losses on Cash | ||||||||||
Flow Hedges | ||||||||||
Accumulated other comprehensive loss at Jan. 1 | $ | (437 | ) | |||||||
Losses reclassified from net accumulated other comprehensive loss | 57 | |||||||||
Net current period other comprehensive income | 57 | |||||||||
Accumulated other comprehensive loss at Sept. 30 | $ | (380 | ) | |||||||
Reclassifications out of Accumulated Other Comprehensive Loss | Reclassifications from accumulated other comprehensive loss for the three and nine months ended Sept. 30, 2013 were as follows: | |||||||||
Amounts Reclassified from | ||||||||||
Accumulated Other | ||||||||||
Comprehensive Loss | ||||||||||
(Thousands of Dollars) | Three Months Ended Sept. 30, 2013 | Nine Months Ended Sept. 30, 2013 | ||||||||
Losses on cash flow hedges: | ||||||||||
Interest rate derivatives | $ | 32 | (a) | $ | 95 | (a) | ||||
Total, pre-tax | 32 | 95 | ||||||||
Tax benefit | (12 | ) | (38 | ) | ||||||
Total amounts reclassified, net of tax | $ | 20 | $ | 57 | ||||||
(a) | Included in interest charges. |
Selected_Balance_Sheet_Data_Ac
Selected Balance Sheet Data, Accounts Receivable (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
Accounts Receivable, Net | ||||
Accounts receivable | $52,596,000 | $55,039,000 | ||
Less allowance for bad debts | -4,477,000 | -4,333,000 | ||
Accounts receivable, net | 48,119,000 | [1] | 50,706,000 | [1] |
Accounts receivable from affiliates, net | $14 | $586 | ||
[1] | Accounts receivable, net includes $14 and $586 due from affiliates as of Sept. 30, 2013 and Dec. 31, 2012, respectively. |
Selected_Balance_Sheet_Data_In
Selected Balance Sheet Data, Inventory (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Public Utilities, Inventory [Line Items] | ||
Inventories | $22,999 | $19,685 |
Materials and supplies | ||
Public Utilities, Inventory [Line Items] | ||
Inventories | 6,406 | 6,172 |
Fuel | ||
Public Utilities, Inventory [Line Items] | ||
Inventories | 5,771 | 6,664 |
Natural gas | ||
Public Utilities, Inventory [Line Items] | ||
Inventories | $10,822 | $6,849 |
Selected_Balance_Sheet_Data_Pr
Selected Balance Sheet Data, Property, Plant and Equipment (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | $2,315,291 | $2,193,812 |
Less accumulated depreciation | -936,644 | -895,576 |
Property, plant and equipment, net | 1,378,647 | 1,298,236 |
Electric plant | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 1,869,563 | 1,795,239 |
Natural gas plant | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 231,778 | 224,625 |
Common and other property | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 112,514 | 111,319 |
Construction work in progress | ||
Public Utility, Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | $101,436 | $62,629 |
Income_Taxes_Details
Income Taxes (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2013 |
Internal Revenue Service (IRS) | Internal Revenue Service (IRS) | State Jurisdiction (Wisconsin) | State Jurisdiction (Wisconsin) | |||
Tax Audits [Abstract] | ||||||
Year(s) no longer subject to audit as statute of limitations has expired | 2008 | |||||
Earliest year subject to examination | 2009 | 2009 | ||||
Year(s) under examination | 2010 and 2011 | 2009 through 2011 | ||||
Unrecognized Tax Benefits [Abstract] | ||||||
Unrecognized tax benefit — Permanent tax positions | $200,000 | $100,000 | ||||
Unrecognized tax benefit — Temporary tax positions | 1,500,000 | 1,200,000 | ||||
Total unrecognized tax benefit | 1,700,000 | 1,300,000 | ||||
NOL and tax credit carryforwards | -900,000 | -900,000 | ||||
Upper bound of decrease in unrecognized tax benefit that is reasonably possible | -1,000,000 | |||||
Amounts accrued for penalties related to unrecognized tax benefits | $0 | $0 |
Rate_Matters_Details
Rate Matters (Details) (Public Service Commission of Wisconsin (PSCW) [Member], USD $) | 1 Months Ended | 0 Months Ended | |||||||
In Millions, unless otherwise specified | 31-May-13 | 31-May-13 | 31-May-13 | Oct. 18, 2013 | Oct. 04, 2013 | Oct. 18, 2013 | Oct. 04, 2013 | Oct. 18, 2013 | Oct. 04, 2013 |
Electric and Gas Rate Case 2014, Electric Rates [Member] | Electric and Gas Rate Case 2014, Gas Rates [Member] | Electric and Gas Rate Case 2014 [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | |
Electric and Gas Rate Case 2014, Electric Rates [Member] | Electric and Gas Rate Case 2014, Electric Rates [Member] | Electric and Gas Rate Case 2014, Gas Rates [Member] | Electric and Gas Rate Case 2014, Gas Rates [Member] | Electric and Gas Rate Case 2014 [Member] | Electric and Gas Rate Case 2014 [Member] | ||||
Public Utilities, General Disclosures [Line Items] | |||||||||
Public Utilities, Requested Rate Increase (Decrease), Amended, Amount | $34 | $0 | |||||||
Public Utilities, Requested Rate Increase (Decrease), Amount | 40 | 4.7 | |||||||
Public Utilities, Requested Rate Increase (Decrease), Percentage | 6.50% | 3.80% | |||||||
Public Utilities, Requested Return on Equity, Percentage | 10.40% | 10.40% | |||||||
Public Utilities, Requested Equity Capital Structure, Percentage | 52.50% | ||||||||
Forecasted Average Net Investment Rate Base, Electric Utility | 895.3 | ||||||||
Forecasted Average Net Investment Rate Base, Natural Gas Utility | 89.8 | ||||||||
Public Utilities, Return on equity recommended by third parties | 10.20% | ||||||||
Public Utilities, Debt capital structure recommended by third parties | 52.50% | ||||||||
Public Utilities, Adjustment to requested rate increase (decrease) recommended by third parties related to electric fuel and purchased power | -5.1 | 0 | |||||||
Public Utilities, Adjustment to requested rate increase (decrease) recommended by third parties related to the sales forecast | -4.8 | 0 | |||||||
Public Utilities, Adjustment to requested rate increase (decrease) requested by third parties related to incentive compensation | -3 | -0.6 | |||||||
Public Utilities, Adjustment recommended by third parties related to return on equity | -1.6 | -0.2 | |||||||
Public Utilities, Adjustment to requested rate increase (decrease) recommended by third parties related to conservation programs | 0.7 | -0.7 | |||||||
Public Utilities, Adjustment to requested rate increase (decrease) recommended by third parties related to depreciation expense | -0.7 | -1.3 | |||||||
Public Utilities, Adjustment to requested rate increase (decrease) recommended by third parties related to amortization expenses | 0 | -2.3 | |||||||
Public Utilities, Adjustment to requested rate increase (decrease) requested by third parties related to other costs | -1.7 | -0.7 | |||||||
Public Utilities, Rate increase (decrease) recommended by third parties | $23.80 | ($1.10) | |||||||
Public Utilities, Rate increase (decrease) recommended by third parties, percentage | 3.80% | -0.90% |
Commitments_and_Contingencies_1
Commitments and Contingencies, Guarantees and Indemnifications (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Guarantor Obligations [Line Items] | ||
Assets Held As Collateral | $0 | |
Payment or Performance Guarantee | Customer Loans for Farm Rewiring Program | ||
Guarantees [Abstract] | ||
Guarantees issued and outstanding | 1,000,000 | 1,000,000 |
Current exposure under these guarantees | $300,000 | $400,000 |
Commitments_and_Contingencies_2
Commitments and Contingencies, Environmental Contingencies - Site Contingencies (Details) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Dec. 31, 2012 | |
Site | ||
Ashland Manufactured Gas Plant (MGP) Site [Abstract] | ||
Liability for estimated cost of remediating sites, current | $23,817,000 | $23,427,000 |
Ashland MGP Site | ||
Ashland Manufactured Gas Plant (MGP) Site [Abstract] | ||
Number of properties included in superfund site which NSP-Wisconsin does not own | 2 | |
Liability for estimated cost of remediating sites | 101,200,000 | 103,700,000 |
Liability for estimated cost of remediating sites, current | 19,500,000 | 20,100,000 |
Amortization period for recovery of remediation costs in natural gas rates, low end of range (in years) | 4 years | |
Amortization period for recovery of remediation costs in natural gas rates, high end of range (in years) | 6 years | |
Ashland MGP Site - Phase I Project Area | ||
Ashland Manufactured Gas Plant (MGP) Site [Abstract] | ||
Liability for estimated cost of remediating sites | 40,000,000 | |
Number of acres of land conveyed to the State of Wisconsin and tribal trustees (in acres) | 1,390 | |
Approved amortization period for recovery of remediation costs in natural gas rates (in years) | 10 years | |
Carrying cost percentage to be applied to the unamortized regulatory asset for MGP remediation (in hundredths) | 3.00% | |
Ashland MGP Site - Sediments | ||
Ashland Manufactured Gas Plant (MGP) Site [Abstract] | ||
Estimated cost of remediating site, low end of range | 63,000,000 | |
Estimated cost of remediating site, high end of range | $77,000,000 | |
Potential percent of increase to the high end of the range of estimated site remediation costs (in hundredths) | 50.00% | |
Potential percent of decrease to the low end of the range of estimated site remediation costs (in hundredths) | 30.00% |
Commitments_and_Contingencies_3
Commitments and Contingencies Commitments and Contingencies, Environmental Contingencies - Unrecorded Unconditional Purchase Obligation (Details) (Federal Clean Water Act) | Jun. 30, 2013 |
Regulation | |
Federal Clean Water Act | |
Environmental Requirements [Abstract] | |
Number of potential regulatory options under the proposed Effluent Limitations Guidelines rule | 4 |
Commitments_and_Contingencies_4
Commitments and Contingencies, Legal Contingencies (Details) (USD $) | Sep. 30, 2013 | 31-May-11 |
Counterparty | ||
Legal Contingencies [Abstract] | ||
Accrual for legal contingency | $0 | |
Comer vs. Xcel Energy Inc. et al. [Member] | ||
Legal Contingencies [Abstract] | ||
Accrual for legal contingency | $0 | |
Minimum number of utility, oil, chemical and coal companies against which a lawsuit was filed in U.S. District Court in Mississippi | 85 |
Borrowings_and_Other_Financing2
Borrowings and Other Financing Instruments, Commercial Paper (Details) (USD $) | 3 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
Short-term Debt [Line Items] | ||
Amount outstanding at period end | $11,000,000 | $39,000,000 |
Commercial Paper | ||
Short-term Debt [Line Items] | ||
Borrowing limit | 150,000,000 | 150,000,000 |
Amount outstanding at period end | 11,000,000 | 39,000,000 |
Average amount outstanding | 4,000,000 | 61,000,000 |
Maximum amount outstanding | $19,000,000 | $116,000,000 |
Weighted average interest rate, computed on a daily basis (in hundredths) | 0.22% | 0.39% |
Weighted average interest rate at period end (in hundredths) | 0.18% | 0.40% |
Borrowings_and_Other_Financing3
Borrowings and Other Financing Instruments, Letters of Credit (Details) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Dec. 31, 2012 | |
Letters of Credit [Abstract] | ||
Terms of letters of credit (in years) | 1 year | |
Letters of credit outstanding under credit facilities | $0 | $0 |
Borrowings_and_Other_Financing4
Borrowings and Other Financing Instruments, Credit Facility (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | |
Credit Facility [Abstract] | |||
Credit facility | $150,000,000 | [1] | |
Drawn | 11,000,000 | [2] | |
Available | 139,000,000 | ||
Credit facility bank borrowings outstanding | $0 | $0 | |
[1] | Credit facility expires in July 2017. | ||
[2] | Includes outstanding commercial paper. |
Borrowings_and_Other_Financing5
Borrowings and Other Financing Instruments, Intercompany Borrowing Arrangement and Other Short-Term Borrowings (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Short-term Debt [Line Items] | ||
Notes payable to affiliates | $470 | $550 |
Intercompany Borrowing Arrangement | ||
Short-term Debt [Line Items] | ||
Notes payable to affiliates | $500 | $600 |
Weighted average interest rate at period end (in hundredths) | 0.25% | 0.33% |
Fair_Value_of_Financial_Assets2
Fair Value of Financial Assets and Liabilities, Derivative Instruments (Details) (Interest Rate Swap [Member], USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Interest Rate Swap [Member] | ||
Interest Rate Derivatives [Abstract] | ||
Amount of accumulated other comprehensive gains (losses) related to interest rate derivatives expected to be reclassified into earnings within the next twelve months | ($0.10) | |
Amount of accumulated other comprehensive losses related to interest rate derivatives reclassified into earnings | ($0.10) | ($0.10) |
Fair_Value_of_Financial_Assets3
Fair Value of Financial Assets and Liabilities, Impact of Derivative Activity (Details) (Other Derivative Instruments [Member], Natural Gas Commodity Contract [Member]) | Sep. 30, 2013 | Dec. 31, 2012 | ||
MMBTU | MMBTU | |||
Other Derivative Instruments [Member] | Natural Gas Commodity Contract [Member] | ||||
Gross Notional Amounts of Commodity Forwards and Options [Abstract] | ||||
Notional amount | 853,000 | [1],[2] | 53,000 | [1],[2] |
[1] | Amounts are not reflective of net positions in the underlying commodities. | |||
[2] | Notional amounts for options are included on a gross basis, but are weighted for the probability of exercise. |
Fair_Value_of_Financial_Assets4
Fair Value of Financial Assets and Liabilities, Financial Impact of Qualifying Cash Flow Hedges (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Financial Impact of Qualifying Cash Flow Hedges on Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||
Accumulated other comprehensive loss related to cash flow hedges at beginning of period | ($400,000) | ($476,000) | ($437,000) | ($514,000) |
After-tax net realized losses on derivative transactions reclassified into earnings | 20,000 | 20,000 | 57,000 | 58,000 |
Accumulated other comprehensive loss related to cash flow hedges at end of period | -380,000 | -456,000 | -380,000 | -456,000 |
Pre-tax (gains) losses reclassified into income during the period from regulatory assets and (liabilities) | 2,900,000 | |||
Derivative instruments designated as fair value hedges | 0 | 0 | 0 | 0 |
Natural Gas Commodity Contract [Member] | Cash Flow Hedging Other [Member] | ||||
Financial Impact of Qualifying Cash Flow Hedges on Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||
Pre-tax fair value gains (losses) recognized during the period in regulatory (assets) and liabilities | ($200,000) | ($400,000) | ($400,000) |
Fair_Value_of_Financial_Assets5
Fair Value of Financial Assets and Liabilities, Derivative Assets and Liabilities at Fair Value (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Other current liabilities | $9,627 | $10,955 | ||
Prepayments and other | 2,889 | 4,394 | ||
Fair Value Measured on a Recurring Basis [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Natural gas commodity | 346 | [1] | ||
Current derivative liabilities [Abstract] | ||||
Natural gas commodity | 11 | [2] | ||
Fair Value Measured on a Recurring Basis [Member] | Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Natural gas commodity | 0 | |||
Current derivative liabilities [Abstract] | ||||
Natural gas commodity | 0 | |||
Fair Value Measured on a Recurring Basis [Member] | Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Natural gas commodity | 346 | |||
Current derivative liabilities [Abstract] | ||||
Natural gas commodity | 11 | |||
Fair Value Measured on a Recurring Basis [Member] | Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Natural gas commodity | 0 | |||
Current derivative liabilities [Abstract] | ||||
Natural gas commodity | 0 | |||
Fair Value Measured on a Recurring Basis [Member] | Fair Value Total [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Other current liabilities | 11,000 | |||
Prepayments and other | 2,900 | |||
Natural gas commodity | 346 | |||
Current derivative liabilities [Abstract] | ||||
Natural gas commodity | 11 | |||
Fair Value Measured on a Recurring Basis [Member] | Counterparty Netting [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Natural gas commodity | 0 | |||
Current derivative liabilities [Abstract] | ||||
Natural gas commodity | $0 | [3] | ||
[1] | Included in other current assets balance of $2.9 million at Sept. 30, 2013 in the consolidated balance sheets. | |||
[2] | Included in other current liabilities balance of $11.0 million at Dec. 31, 2012 in the consolidated balance sheets. | |||
[3] | NSP-Wisconsin nets derivative instruments and related collateral in its consolidated balance sheet when supported by a legally enforceable master netting agreement, and all derivative instruments and related collateral amounts were subject to master netting agreements at Sept. 30, 2013 and Dec. 31, 2012. The counterparty netting amounts presented exclude settlement receivables and payables and non-derivative amounts that may be subject to the same master netting agreements. |
Fair_Value_of_Financial_Assets6
Fair Value of Financial Assets and Liabilities, Fair Value of Long-Term Debt (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Carrying Amount | ||
Financial Liabilities, Balance Sheet Groupings [Abstract] | ||
Long-term debt, including current portion | $468,614 | $468,563 |
Fair Value | ||
Financial Liabilities, Balance Sheet Groupings [Abstract] | ||
Long-term debt, including current portion | $531,932 | $576,353 |
Other_Expense_Income_Net_Detai
Other (Expense) Income, Net (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Other Income and Expenses [Abstract] | ||||
Interest income | $23 | $18 | $419 | $650 |
Other nonoperating income | 38 | 18 | 108 | 57 |
Insurance policy expense | -119 | -121 | -310 | -332 |
Other nonoperating expense | -3 | 0 | -8 | 0 |
Other (expense) income, net | ($61) | ($85) | $209 | $375 |
Segment_Information_Details
Segment Information (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Segment Reporting Information [Line Items] | ||||
Operating revenues | $231,060 | $226,475 | $682,650 | $644,447 |
Net income (loss) | 22,013 | 22,200 | 52,242 | 42,820 |
Regulated Electric | ||||
Segment Reporting Information [Line Items] | ||||
Operating revenues | 216,634 | 214,508 | 592,980 | 575,810 |
Net income (loss) | 22,859 | 21,743 | 46,530 | 39,118 |
Regulated Natural Gas | ||||
Segment Reporting Information [Line Items] | ||||
Operating revenues | 15,228 | 12,063 | 90,727 | 68,649 |
Net income (loss) | -1,726 | -1,461 | 4,100 | 992 |
All Other | ||||
Segment Reporting Information [Line Items] | ||||
Operating revenues | 249 | 307 | 742 | 851 |
Net income (loss) | 880 | 1,918 | 1,612 | 2,710 |
Operating Segments | ||||
Segment Reporting Information [Line Items] | ||||
Operating revenues | 231,060 | 226,475 | 682,650 | 644,447 |
Operating Segments | Regulated Electric | ||||
Segment Reporting Information [Line Items] | ||||
Operating revenues | 216,545 | 214,426 | 592,730 | 575,532 |
Operating Segments | Regulated Natural Gas | ||||
Segment Reporting Information [Line Items] | ||||
Operating revenues | 14,266 | 11,742 | 89,178 | 68,064 |
Operating Segments | All Other | ||||
Segment Reporting Information [Line Items] | ||||
Operating revenues | 249 | 307 | 742 | 851 |
Intersegment Eliminations | ||||
Segment Reporting Information [Line Items] | ||||
Operating revenues | -1,051 | -403 | -1,799 | -863 |
Intersegment Eliminations | Regulated Electric | ||||
Segment Reporting Information [Line Items] | ||||
Operating revenues | 89 | 82 | 250 | 278 |
Intersegment Eliminations | Regulated Natural Gas | ||||
Segment Reporting Information [Line Items] | ||||
Operating revenues | 962 | 321 | 1,549 | 585 |
Intersegment Eliminations | All Other | ||||
Segment Reporting Information [Line Items] | ||||
Operating revenues | $0 | $0 | $0 | $0 |
Benefit_Plans_and_Other_Postre2
Benefit Plans and Other Postretirement Benefits (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Pension Benefits | ||||
Components of Net Periodic Benefit Cost [Abstract] | ||||
Service cost | $1,421,000 | $1,142,000 | $4,262,000 | $3,426,000 |
Interest cost | 1,731,000 | 1,918,000 | 5,193,000 | 5,753,000 |
Expected return on plan assets | -2,499,000 | -2,622,000 | -7,496,000 | -7,867,000 |
Amortization of transition obligation | 0 | 0 | 0 | 0 |
Amortization of prior service cost (credit) | 104,000 | 442,000 | 312,000 | 1,328,000 |
Amortization of net loss | 1,981,000 | 1,460,000 | 5,943,000 | 4,382,000 |
Net benefit cost recognized for financial reporting | 2,738,000 | 2,340,000 | 8,214,000 | 7,022,000 |
Total contributions to Xcel Energy's pension plans during the period | 11,300,000 | |||
Postretirement Health Care Benefits | ||||
Components of Net Periodic Benefit Cost [Abstract] | ||||
Service cost | 6,000 | 5,000 | 18,000 | 15,000 |
Interest cost | 190,000 | 268,000 | 570,000 | 806,000 |
Expected return on plan assets | -11,000 | -13,000 | -32,000 | -38,000 |
Amortization of transition obligation | 0 | 42,000 | 0 | 128,000 |
Amortization of prior service cost (credit) | -88,000 | -4,000 | -264,000 | -11,000 |
Amortization of net loss | 241,000 | 123,000 | 723,000 | 365,000 |
Net benefit cost recognized for financial reporting | 338,000 | 421,000 | 1,015,000 | 1,265,000 |
Xcel Energy Inc. | Pension Benefits | ||||
Components of Net Periodic Benefit Cost [Abstract] | ||||
Total contributions to Xcel Energy's pension plans during the period | $192,200,000 | |||
Number of Xcel Energy's pension plans to which contributions were made | 4 | 4 |
Other_Comprehensive_Income_Det
Other Comprehensive Income (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||
Accumulated Other Comprehensive Income [Roll Forward] | ||||||
Accumulated other comprehensive loss at beginning of period | ($437) | |||||
Accumulated other comprehensive loss at end of period | -380 | -380 | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||
Interest charges | 7,191 | 5,944 | 20,860 | 18,003 | ||
Total, pre-tax | -35,017 | -35,316 | -84,020 | -68,968 | ||
Tax benefit | 13,004 | 13,116 | 31,778 | 26,148 | ||
Gains and Losses on Cash Flow Hedges [Member] | ||||||
Accumulated Other Comprehensive Income [Roll Forward] | ||||||
Accumulated other comprehensive loss at beginning of period | -400 | -437 | ||||
Losses reclassified from net accumulated other comprehensive loss | 20 | 57 | ||||
Net current period other comprehensive income (loss) | 20 | 57 | ||||
Accumulated other comprehensive loss at end of period | -380 | -380 | ||||
Gains and Losses on Cash Flow Hedges [Member] | Amounts Reclassified from Accumulated Other Comprehensive Loss [Member] | ||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||
Total, pre-tax | 32 | 95 | ||||
Tax benefit | -12 | -38 | ||||
Total, net of tax | 20 | 57 | ||||
Gains and Losses on Cash Flow Hedges [Member] | Interest Rate Derivatives [Member] | Amounts Reclassified from Accumulated Other Comprehensive Loss [Member] | ||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||||
Interest charges | $32 | [1] | $95 | [1] | ||
[1] | Included in interest charges. |