REGULATORY ASSETS AND LIABILITIES (Tables)

3 Months Ended

Mar. 31, 2023

Regulatory Assets and Liabilities Disclosure [Abstract]


(in millions)	March 31, 2023		December 31, 2022
Regulatory assets
Environmental remediation costs	$	117.3	$	118.5
Income tax related items	60.3		61.5
Pension and OPEB costs	45.4		48.6
Plant retirement related items	41.8		43.1
Derivatives	34.1		22.5
Asset retirement obligations	17.6		15.6
ReACT™	12.4		13.0
Energy efficiency programs	10.9		13.4
Bluewater (1)	9.6		6.8
Uncollectible expense	8.2		5.6
Other, net	17.8		16.9
Total regulatory assets	$	375.4	$	365.5

(1) Primarily related to costs associated with our long-term service agreement with Bluewater for natural gas storage services. The PSCW has approved escrow accounting for these costs. As a result, we defer as a regulatory asset or liability the difference between actual storage costs and those included in rates until recovery or refund is authorized in a future rate proceeding.

Schedule of regulatory liabilities


(in millions)	March 31, 2023		December 31, 2022
Regulatory liabilities
Income tax related items	$	340.8	$	343.7
Removal costs	186.0		186.5
Pension and OPEB benefits	90.8		90.1
Energy costs refundable through rate adjustments (1)	36.3		9.9
Derivatives	4.4		7.9
Other, net	26.6		22.1
Total regulatory liabilities	$	684.9	$	660.2

Balance sheet presentation
Amounts refundable to customers	$	36.3	$	9.9
Regulatory liabilities	648.6		650.3
Total regulatory liabilities	$	684.9	$	660.2

(1) The increase in these regulatory liabilities was primarily due to lower natural gas costs incurred during the first quarter of 2023, compared to what was anticipated in rates.