SHORT-TERM DEBT AND LINES OF CREDIT

6 Months Ended

Jun. 30, 2014

Short-Term Debt and Lines of Credit

Our outstanding short-term borrowings were as follows:



(Millions, except percentages)	June 30, 2014			December 31, 2013
Commercial paper	$	60.4		$	25.6
Average interest rate on commercial paper	0.21		%	0.14		%

The commercial paper outstanding at June 30, 2014, had maturity dates ranging from July 1, 2014, through July 7, 2014.

Our average amount of commercial paper borrowings based on daily outstanding balances during the six months ended June 30, 2014, and 2013, was $18.5 million and $70.8 million, respectively.

We manage our liquidity by maintaining adequate external financing commitments. The information in the table below relates to our revolving credit facilities used to support our commercial paper borrowing program, including remaining available capacity under these facilities:



(Millions)	Maturity	June 30, 2014		December 31, 2013
Revolving credit facility ⁽¹⁾	05/17/2014	$	—	$	135.0
Revolving credit facility ⁽²⁾	05/07/2015	135.0		—
Revolving credit facility	06/13/2017	115.0		115.0
Total short-term credit capacity		$	250.0	$	250.0

Less:
Commercial paper outstanding		60.4		25.6
Available capacity under existing agreements		$	189.6	$	224.4


⁽¹⁾	This credit facility was terminated and replaced with a new credit facility in May 2014.


⁽²⁾	We requested approval from the PSCW to extend this facility through May 8, 2019.