CREDIT LOSSES (Tables)

3 Months Ended

Mar. 31, 2023

Credit Loss [Abstract]

Schedule of gross receivables and related allowances for credit losses

We have included a table below that shows our gross third-party receivable balances and related allowance for credit losses.

(in millions)	March 31, 2023			December 31, 2022
Accounts receivable and unbilled revenues	$	277.4		$	279.5
Allowance for credit losses	13.2			11.7
Accounts receivable and unbilled revenues, net (1)	$	264.2		$	267.8
Total accounts receivable, net – past due greater than 90 days (1)	$	11.7		$	8.4
Past due greater than 90 days – collection risk mitigated by regulatory mechanisms (1)	96.8		%	95.5		%

(1)Our exposure to credit losses for certain regulated utility customers is mitigated by a regulatory mechanism we have in place. Specifically, our residential tariffs include a mechanism for cost recovery or refund of uncollectible expense based on the difference between actual uncollectible write-offs and the amounts recovered in rates. As a result, at March 31, 2023, $150.7 million, or 57.0%, of our net accounts receivable and unbilled revenues balance had regulatory protections in place to mitigate the exposure to credit losses.

Rollforward of the allowances for credit losses

A rollforward of the allowance for credit losses is included below:

	Three Months Ended March 31
(in millions)	2023		2022
Balance at January 1	$	11.7	$	11.1
Provision for credit losses	1.6		2.0
Provision for credit losses deferred for future recovery or refund	2.6		1.7
Write-offs charged against the allowance	(3.5)		(3.9)
Recoveries of amounts previously written off	0.8		1.2
Balance at March 31	$	13.2	$	12.1