Regulatory Matters

Regulatory Assets and Liabilities

Regulatory assets and liabilities represent probable future revenues or expenses associated with certain charges and credits that will be recovered from or refunded to customers through the ratemaking process. The regulatory assets are being recovered as cost of service in our rates over a period of approximately 1 year to 27 years.

The following table summarizes our regulatory asset and liability balances (in millions):



	September 30, 2013		December 31, 2012
Current regulatory assets	$	8	$	6
Non-current regulatory assets⁽¹⁾	12		14
Total Regulatory Assets	$	20	$	20

Current regulatory liabilities	$	3	$	9
Non-current regulatory liabilities⁽²⁾	10		10
Total Regulatory Liabilities	$	13	$	19

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(1) Included in "Deferred charges and other assets" on our accompanying Consolidated Balance Sheets.

(2) Included in "Other long-term liabilities and deferred credits" on our accompanying Consolidated Balance Sheets.