CREDIT LOSSES (Tables)

6 Months Ended

Jun. 30, 2025

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)	June 30, 2025			December 31, 2024
Accounts receivable and unbilled revenues	$	242.8		$	233.7
Allowance for credit losses	7.4			8.6
Accounts receivable and unbilled revenues, net (1)	$	235.4		$	225.1
Total accounts receivable, net – past due greater than 90 days (1)	$	6.4		$	7.4
Past due greater than 90 days – collection risk mitigated by regulatory mechanisms (1)	94.6		%	93.9		%

(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 June 30, 2025, $113.3 million, or 48.1%, 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 June 30
(in millions)	2025		2024
Balance at April 1	$	7.5	$	9.6
Provision for credit losses	5.0		2.2
Provision for credit losses deferred for future recovery or refund	(2.5)		(0.8)
Write-offs charged against the allowance	(3.9)		(4.1)
Recoveries of amounts previously written off	1.3		1.4
Balance at June 30	$	7.4	$	8.3

	Six Months Ended June 30
(in millions)	2025		2024
Balance at January 1	$	8.6	$	10.9
Provision for credit losses	8.5		3.6
Provision for credit losses deferred for future recovery or refund	(5.3)		(0.8)
Write-offs charged against the allowance	(7.0)		(8.1)
Recoveries of amounts previously written off	2.6		2.7
Balance at June 30	$	7.4	$	8.3