RISK MANAGEMENT ACTIVITIES

12 Months Ended

Dec. 31, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

RISK MANAGEMENT ACTIVITIES

Risk Management Activities

We use derivative instruments to manage commodity costs. None of these derivatives are designated as hedges for accounting purposes. These derivatives include physical commodity contracts and NYMEX futures and options used by the electric and natural gas utility segments to manage the risks associated with the market price volatility of natural gas costs and the costs of gasoline and diesel fuel used by our utility vehicles. The electric utility segment also uses financial transmission rights (FTRs) to manage electric transmission congestion costs and NYMEX oil futures and options to reduce price risk related to coal transportation.

The tables below show our assets and liabilities from risk management activities:

		December 31, 2013
(Millions)	Balance Sheet Presentation	Assets		Liabilities
Natural gas contracts	Other Current	$	0.6	$	0.1
FTRs	Other Current	1.5		0.3
Petroleum product contracts	Other Current	0.1		—
Coal contracts	Other Current	—		1.9
Coal contracts	Other Long-term	0.2		0.8
	Other Current	2.2		2.3
	Other Long-term	0.2		0.8
Total		$	2.4	$	3.1

		December 31, 2012
(Millions)	Balance Sheet Presentation	Assets		Liabilities
Natural gas contracts	Other Current	$	0.1	$	0.6
FTRs	Other Current	1.2		0.1
Petroleum product contracts	Other Current	0.1		—
Coal contracts	Other Current	0.3		4.7
Coal contracts	Other Long-term	2.2		4.3
	Other Current	1.7		5.4
	Other Long-term	2.2		4.3
Total		$	3.9	$	9.7

The following tables show the potential effect on our financial position of netting arrangements for recognized derivative assets and liabilities:

	December 31, 2013
(Millions)	Gross Amount		Potential Effects of Netting, Including Cash Collateral		Net Amount
Derivative assets subject to master netting or similar arrangements	$	2.2	$	0.6	$	1.6
Derivative assets not subject to master netting or similar arrangements	0.2				0.2
Total risk management assets	$	2.4			$	1.8
Derivative liabilities subject to master netting or similar arrangements	$	0.4	$	0.4	$	—
Derivative liabilities not subject to master netting or similar arrangements	2.7				2.7
Total risk management liabilities	$	3.1			$	2.7

	December 31, 2012
(Millions)	Gross Amount		Potential Effects of Netting, Including Cash Collateral		Net Amount
Derivative assets subject to master netting or similar arrangements	$	1.4	$	0.2	$	1.2
Derivative assets not subject to master netting or similar arrangements	2.5				2.5
Total risk management assets	$	3.9			$	3.7
Derivative liabilities subject to master netting or similar arrangements	$	0.7	$	0.7	$	—
Derivative liabilities not subject to master netting or similar arrangements	9.0				9.0
Total risk management liabilities	$	9.7			$	9.0

Our master netting and similar arrangements have conditional rights of setoff that can be enforced under a variety of situations, including counterparty default or credit rating downgrade below investment grade. We have trade receivables and trade payables, subject to master netting or similar arrangements, that are not included in the above table. These amounts may offset (or conditionally offset) the net amounts presented in the above table.

Financial collateral received or provided is restricted to the extent that it is required per the terms of the related agreements. The following table shows our cash collateral positions:

(Millions)	December 31, 2013		December 31, 2012
Cash collateral provided to others related to contracts under master netting or similar arrangements	$	3.1	$	4.3
Cash collateral received from others related to contracts under master netting or similar arrangements	0.2		—

The following table shows the unrealized gains (losses) recorded related to derivative contracts:

(Millions)	Financial Statement Presentation	2013			2012			2011
Natural gas	Balance Sheet — Regulatory assets (current)	$	0.7		$	2.2		$	(0.1	)
Natural gas	Balance Sheet — Regulatory liabilities (current)	0.3			0.1			(0.2		)
Natural gas	Income Statement — Cost of fuel, natural gas, and purchased power	—			0.2			—
FTRs	Balance Sheet — Regulatory assets (current)	0.2			(0.1		)	(0.1		)
FTRs	Balance Sheet — Regulatory liabilities (current)	(0.3		)	—			(1.1		)
Petroleum	Balance Sheet — Regulatory assets (current)	—			0.1			(0.1		)
Petroleum	Balance Sheet — Regulatory liabilities (current)	0.1			—			—
Petroleum	Income Statement — Operating and maintenance expense	—			—			(0.1		)
Coal	Balance Sheet — Regulatory assets (current)	(0.9		)	(2.2		)	(1.3		)
Coal	Balance Sheet — Regulatory assets (long-term)	3.5			0.1			(4.4		)
Coal	Balance Sheet — Regulatory liabilities (current)	(0.2		)	0.3			—
Coal	Balance Sheet — Regulatory liabilities (long-term)	(2.0		)	2.2			(3.7		)

We had the following notional volumes of outstanding derivative contracts:

	December 31, 2013			December 31, 2012
Commodity	Purchases	Sales	Other  Transactions	Purchases	Other Transactions
Natural gas (millions of therms)	2,242.5	7.0	N/A	86.1	N/A
FTRs (millions of kilowatt-hours)	N/A	N/A	3,427.0	N/A	3,838.2
Petroleum products (barrels)	73,002.0	14,000.0	N/A	33,002.0	N/A
Coal contract (millions of tons)	4.8	—	N/A	5.1	N/A