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Rates and Other Regulatory Activities Regulatory Assets and Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Rates and Other Regulatory Activities [Line Items]    
Regulatory Assets $ 115,902 $ 149,653
Regulatory Liabilities 208,998 148,020
Underrecovered Gas & Fuel Costs 21,200  
Self Insured Liabilities [Member]    
Rates and Other Regulatory Activities [Line Items]    
Regulatory Liabilities [1] 521 339
Overrecovered Gas And Fuel Costs [Member]    
Rates and Other Regulatory Activities [Line Items]    
Regulatory Liabilities [2] 12,340 3,827
Storm Reserve [Member]    
Rates and Other Regulatory Activities [Line Items]    
Regulatory Liabilities [1] 1,900 2,845
Accrued asset removal cost    
Rates and Other Regulatory Activities [Line Items]    
Regulatory Liabilities [3] 86,534 50,261
Deferred Income Tax Due to Rate Change [Member]    
Rates and Other Regulatory Activities [Line Items]    
Regulatory Liabilities [4] 105,055 87,690
Other Regulatory Liability [Member]    
Rates and Other Regulatory Activities [Line Items]    
Regulatory Liabilities 1,611 1,851
Storm Cost Recovery, Interest    
Rates and Other Regulatory Activities [Line Items]    
Regulatory Liabilities [5] 536 1,207
Over-recovered GRIP revenue    
Rates and Other Regulatory Activities [Line Items]    
Regulatory Liabilities 501 0
Underrecovered Gas And Fuel Costs [Member]    
Rates and Other Regulatory Activities [Line Items]    
Regulatory Assets [2] 13,696 43,583
Deferred Post Retirement Benefits [Member]    
Rates and Other Regulatory Activities [Line Items]    
Regulatory Assets [6] 10,802 13,927
Deferred Conversion And Development Costs [Member]    
Rates and Other Regulatory Activities [Line Items]    
Regulatory Assets [2] 21,466 23,653
Acquisition Adjustment [Member]    
Rates and Other Regulatory Activities [Line Items]    
Regulatory Assets [7] 31,857 25,609
Other Regulatory Asset [Member]    
Rates and Other Regulatory Activities [Line Items]    
Regulatory Assets 15,573 12,256
COVID-19 Deferred Costs    
Rates and Other Regulatory Activities [Line Items]    
Regulatory Assets 190 [8] 1,233
Deferred Storm Costs    
Rates and Other Regulatory Activities [Line Items]    
Regulatory Assets [5] 19,370 27,687
Under-recovered GRIP Revenues    
Rates and Other Regulatory Activities [Line Items]    
Regulatory Assets [9] 1,777 1,705
Deferred rate case expenses - current    
Rates and Other Regulatory Activities [Line Items]    
Regulatory Assets 1,171 $ 0
Florida Public Utilities Company [Member]    
Rates and Other Regulatory Activities [Line Items]    
Business Acquisition Premium Paid 34,200  
Indiantown Gas Company    
Rates and Other Regulatory Activities [Line Items]    
Business Acquisition Premium Paid $ 700  
[1] We have storm reserves in our Florida regulated energy operations and self-insurance for our regulated energy operations that allow us to collect through rates amounts to be used against general claims, storm restoration costs and other losses as they are incurred.
[2] We are allowed to recover the asset or are required to pay the liability in rates. We do not earn an overall rate of return on these assets.
(2) At December 31, 2022, includes $21.2 million being recovered over a three year period primarily concentrated in our electric division. Per Florida PSC approval, our electric division was allowed to recover these amounts over an extended period of time in an effort to reduce the impact of increased commodity prices to our customers. Recovery of these costs began in January 2023.
[3] See Note 2, Summary of Significant Accounting Policies, for additional information on our asset removal cost policies.
[4] ) We recorded a regulatory liability for our regulated businesses related to the revaluation of accumulated deferred tax assets/liabilities as a result of the TCJA. The liability will be amortized over a period between 5 to 80 years based on the remaining life of the associated property. Based upon the regulatory proceedings, we will pass back the respective portion of the excess accumulated deferred taxes to rate payers. See Note 11, Income Taxes, for additional information.
[5] The Florida PSC authorized us to recover regulatory assets (including interest) associated with the recovery of Hurricanes Michael and Dorian storm costs which will be amortized between 6 and 10 years. Recovery of these costs includes a component of an overall return on capital additions and regulatory assets
[6] The Florida PSC allowed FPU to treat as a regulatory asset the portion of the unrecognized costs pursuant to ASC Topic 715, Compensation - Retirement Benefits, related to its regulated operations. This balance also includes the portion of pension settlement expense associated with the termination of the Chesapeake Pension Plan pursuant to an order from the FERC and the respective PSCs that allowed us to defer Eastern Shore, Delaware and Maryland Divisions' portion. See Note 16, Employee Benefit Plans, for additional information.
[7] We are allowed to include the premiums paid in various natural gas utility acquisitions in Florida in our rate bases and recover them over a specific time period pursuant to the Florida PSC approvals. We paid $34.2 million of the premium in 2009, including a gross up for income tax, because it is not tax deductible, and $0.7 million of the premium paid by FPU in 2010.
[8] ) We deferred as regulatory assets the net incremental expense impact associated with the net expense impact of COVID-19 as authorized by the stated PSCs.
[9] The Florida PSC allowed us to recover through a surcharge, capital and other program-related-costs, inclusive of an appropriate return on investment, associated with accelerating the replacement of qualifying distribution mains and services (defined as any material other than coated steel or plastic) in FPU’s natural gas distribution, Fort Meade division and Chesapeake Utilities’ CFG division. We are allowed to recover the asset or are required to pay the liability in rates related to GRIP.