ASSET RETIREMENT OBLIGATIONS

6 Months Ended

Jun. 30, 2024

Asset Retirement Obligation Disclosure [Abstract]

We have recorded AROs primarily for asbestos abatement at certain generation facilities, office buildings, and service centers; the dismantling of solar and wind generation projects; the disposal of polychlorinated biphenyls-contaminated transformers; and the closure of CCR landfills at certain generation facilities. We establish regulatory assets and liabilities to record the differences between ongoing expense recognition under the ARO accounting rules and the ratemaking practices for retirement costs authorized by the PSCW.

The following table shows changes to our AROs:


(in millions)	2024			2023
Balance at January 1	$	56.7		$	55.1
Accretion	1.1			1.0
Additions	131.2		(1)	2.2		(2)

Liabilities settled	(3.7)			(1.6)
Balance at June 30	$	185.3		$	56.7

(1) AROs increased primarily as a result of AROs being recorded related to the new EPA CCR Rule that was enacted in April 2024. See Note 19, Commitments and Contingencies, for more information.

(2) AROs increased primarily as a result of AROs being recorded for the legal requirement to dismantle, at retirement, the Red Barn wind-powered generation project. See Note 2, Acquisitions, for more information.