XML 59 R28.htm IDEA: XBRL DOCUMENT v2.3.0.15
DERIVATIVE INSTRUMENTS (Tables)
9 Months Ended
Sep. 30, 2011
Notes To Consolidated Financial Statements [Abstract] 
Schedule Of Derivative Instruments In Statement Of Financial Position Fair Value Text Block
  As of September 30, 2011
  Derivatives Not         
  Designated as Hedges         
  Commodity            
  and Capacity Commodity        Net Amount
  Contracts Supply and        Recorded as
  Required by Price Risk Hedging Collateral  Derivative
(Millions of Dollars)Regulation  Management Instruments and Netting (1) Asset/(Liability) (2)
Current Derivative Assets:              
Level 2:              
 Other$ - $ - $ 5.0 $ - $ 5.0
Level 3:              
 CL&P  17.2   0.5   -   (11.2)   6.5
 Other  -   2.7   -   -   2.7
Total Current Derivative Assets$ 17.2 $ 3.2 $ 5.0 $ (11.2) $ 14.2
                
Long-Term Derivative Assets:              
Level 3:               
 CL&P$ 165.6 $ - $ - $ (77.5) $ 88.1
 Other  -   3.3   -   -   3.3
Total Long-Term Derivative Assets$ 165.6 $ 3.3 $ - $ (77.5) $ 91.4
                
Current Derivative Liabilities:              
Level 2:              
 PSNH$ - $ (3.3) $ - $ - $ (3.3)
Level 3:              
 CL&P  (93.9)   (0.1)   -   -   (94.0)
 Other  -   (13.6)      0.2   (13.4)
Total Current Derivative Liabilities$ (93.9) $ (17.0) $ - $ 0.2 $ (110.7)
                
Long-Term Derivative Liabilities:              
Level 3:              
 CL&P $ (891.7) $ - $ - $ - $ (891.7)
 Other  -   (17.8)   -   0.2   (17.6)
Total Long-Term Derivative Liabilities$ (891.7) $ (17.8) $ - $ 0.2 $ (909.3)

  As of December 31, 2010
  Derivatives Not Designated         
  as Hedges         
  Commodity            
  and Capacity Commodity        Net Amount
  Contracts Supply and        Recorded as
  Required by Price Risk Hedging Collateral Derivative
(Millions of Dollars)Regulation Management Instruments and Netting (1) Asset/(Liability) (2)
Current Derivative Assets:              
Level 2:              
 Other$ - $ - $ 7.7 $ - $ 7.7
Level 3:              
 CL&P  5.8   2.1   -   -   7.9
 Other  -   1.7   -   -   1.7
Total Current Derivative Assets$ 5.8 $ 3.8 $ 7.7 $ - $ 17.3
                
Long-Term Derivative Assets:              
Level 2:              
 Other$ - $ - $ 4.1 $ - $ 4.1
Level 3:               
 CL&P  195.9   -   -   (80.0)   115.9
 Other  -   3.2   -   -   3.2
Total Long-Term Derivative Assets$ 195.9 $ 3.2 $ 4.1 $ (80.0) $ 123.2
                
Current Derivative Liabilities:              
Level 2:              
 PSNH$ - $ (12.8) $ - $ - $ (12.8)
Level 3:              
 CL&P  (54.3)   (0.2)   -   7.7   (46.8)
 Other  -   (12.4)   -   0.5   (11.9)
Total Current Derivative Liabilities$ (54.3) $ (25.4) $ - $ 8.2 $ (71.5)
                
Long-Term Derivative Liabilities:              
Level 3:              
 CL&P $ (883.1) $ - $ - $ - $ (883.1)
 Other  -   (26.8)   -   0.2   (26.6)
Total Long-Term Derivative Liabilities$ (883.1) $ (26.8) $ - $ 0.2 $ (909.7)
Schedule Of Derivative Instruments Gain Loss In Statement Of Financial Performance Text Block
            
     Amount of Gain/(Loss) Recognized on Derivative Instrument
   Location of Gain or Loss For the Three Months Ended For the Nine Months Ended
(Millions of Dollars) Recognized on Derivative September 30, 2011 September 30, 2010 September 30, 2011 September 30, 2010
NU              
Commodity and Capacity Contracts               
 Required by Regulation Regulatory Assets/Liabilities $ (47.3) $ (49.8) $ (90.4) $ (141.6)
Commodity Supply and Price Risk               
 Management Regulatory Assets/Liabilities   (0.4)   (2.9)   (2.4)   (22.7)
Commodity Supply and Price Risk  Fuel, Purchased and Net             
 Management  Interchange Power   0.3   1.2   1.0   1.7
                
CL&P              
Commodity and Capacity Contracts               
 Required by Regulation Regulatory Assets/Liabilities   (47.3)   (49.8)   (90.4)   (141.6)
Commodity Supply and Price Risk               
 Management Regulatory Assets/Liabilities   (0.6)   (0.8)   (2.5)   (4.4)
                
PSNH              
Commodity Supply and Price Risk               
 Management Regulatory Assets/Liabilities   0.2   (2.1)   0.2   (17.8)
Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]
 For the Three Months Ended
 September 30, 2011 September 30, 2010
(Millions of Dollars)Swap Hedged Debt Swap Hedged Debt
Changes in Fair Value$ (0.2) $ 0.2 $ 2.8 $ (2.8)
Interest Recorded in Net Income  -   2.5   -   2.9
            
            
 For the Nine Months Ended
 September 30, 2011 September 30, 2010
(Millions of Dollars)Swap Hedged Debt Swap Hedged Debt
Changes in Fair Value$ 1.1 $ (1.1) $ 10.2 $ (10.2)
Interest Recorded in Net Income  -   7.9   -   8.2
Schedule Of Cash Flow Hedges Included In Accumulated Other Comprehensive Income Loss [Table Text Block]
 Gains/(Losses) Recognized onGains/(Losses) Reclassified from AOCI   Gains/(Losses) Reclassified from AOCI  
 Derivative Instrumentsinto Interest Expense  into Interest Expense 
(Millions of For the Three Months Ended For the Nine Months Ended For the Three Months Ended  For the Nine Months Ended 
Dollars)September 30, 2011 September 30, 2011 September 30, 2011 September 30, 2010  September 30, 2011 September 30, 2010 
NU$ (18.3) $ (25.1) $ (0.4) $ (0.1)  $ (0.6) $ (0.3) 
CL&P  -   -   (0.2)   (0.2)    (0.6)   (0.6) 
PSNH  (12.9)   (18.2)   (0.2)   -    (0.3)   (0.1) 
WMECO  (5.4)   (6.9)   -   -    -   0.1 

Qualified cash flow hedging instruments for the nine months ended September 30, 2011 are as follows:
           
  For the Nine Months Ended September 30, 2011 
(Millions of Dollars)NU PSNH WMECO 
Balance as of Beginning of Period$ (4.2) $ (0.6) $ (0.1) 
 Hedged Transactions Recognized into Earnings  0.3   0.2   - 
 Cash Flow Hedging Transactions Entered into for the Period   (14.9)   (10.8)   (4.2) 
Net Change Associated with Hedging Transactions  (14.6)   (10.6)   (4.2) 
Total Fair Value Adjustments Included in Accumulated         
 Other Comprehensive Income$ (18.8) $ (11.2) $ (4.3) 
           
For further information regarding cash flow hedging transactions, see Note 4, "Derivative Instruments," to the unaudited condensed consolidated financial statements.
          
Schedule Of Credit Risk Contingent Features [Table Text Block]
 As of September 30, 2011
          Additional Standby
 Fair Value Subject        LOCs Required if
 to Credit Risk Cash  Standby  Downgraded Below
(Millions of Dollars)Contingent Features Collateral Posted LOCs Posted Investment Grade
NU$ (22.1) $ - $ 6.0 $ 19.1
PSNH  (3.3)   -   6.0   0.5

 As of December 31, 2010
          Additional Standby
 Fair Value Subject        LOCs Required if
 to Credit Risk Cash  Standby  Downgraded Below
(Millions of Dollars)Contingent Features Collateral Posted LOCs Posted Investment Grade
NU$ (30.9) $ 0.5 $ 24.0 $ 18.5
PSNH  (12.8)   -   24.0   -
Rollforward Of Net Derivative Asset Liabilities Valued Using Unobservable Inputs
          
          
  For the Three Months Ended September 30, 2011
  NU
  Commodity      
  and Capacity Commodity   
  Contracts Supply and   
  Required By  Price Risk   
(Millions of Dollars)Regulation Management Total Level 3
Derivatives, Net:         
Fair Value as of Beginning of Period$ (859.6) $ (26.6) $ (886.2)
Net Realized/Unrealized Gains/(Losses) Included in:         
 Net Income(1)  -   0.3   0.3
 Regulatory Assets/Liabilities  (47.3)   (0.6)   (47.9)
Settlements  15.4   2.3   17.7
Fair Value as of End of Period$ (891.5) $ (24.6) $ (916.1)
Period Change in Unrealized Gains Included in        
 Net Income Relating to Items Held as of End of Period$ - $ 0.1 $ 0.1

  For the Nine Months Ended September 30, 2011
  NU
  Commodity      
  and Capacity Commodity   
  Contracts Supply and   
  Required By  Price Risk   
(Millions of Dollars)Regulation Management Total Level 3
Derivatives, Net:         
Fair Value as of Beginning of Period$ (808.0) $ (32.2) $ (840.2)
Net Realized/Unrealized Gains/(Losses) Included in:         
 Net Income(1)  -   1.0   1.0
 Regulatory Assets/Liabilities  (90.4)   (2.6)   (93.0)
Settlements  6.9   9.2   16.1
Fair Value as of End of Period$ (891.5) $ (24.6) $ (916.1)
Period Change in Unrealized Gains Included in        
 Net Income Relating to Items Held as of End of Period$ - $ 0.7 $ 0.7

  For the Three Months Ended September 30, 2011
  CL&P
  Commodity      
  and Capacity Commodity   
  Contracts Supply and   
  Required By  Price Risk   
(Millions of Dollars)Regulation Management Total Level 3
Derivatives, Net:         
Fair Value as of Beginning of Period$ (859.6) $ 0.9 $ (858.7)
Net Realized/Unrealized Losses Included in:         
 Regulatory Assets/Liabilities  (47.3)   (0.6)   (47.9)
Settlements  15.4   0.1   15.5
Fair Value as of End of Period$ (891.5) $ 0.4 $ (891.1)

  For the Nine Months Ended September 30, 2011
  CL&P
  Commodity      
  and Capacity Commodity   
  Contracts Supply and   
  Required By  Price Risk   
(Millions of Dollars)Regulation Management Total Level 3
Derivatives, Net:         
Fair Value as of Beginning of Period$ (808.0) $ 1.9 $ (806.1)
Net Realized/Unrealized Losses Included in:         
 Regulatory Assets/Liabilities  (90.4)   (2.5)   (92.9)
Settlements  6.9   1.0   7.9
Fair Value as of End of Period$ (891.5) $ 0.4 $ (891.1)

  For the Three Months Ended September 30, 2010
  NU
  Commodity      
  and Capacity Commodity   
  Contracts Supply and   
  Required By  Price Risk   
(Millions of Dollars)Regulation Management Total Level 3
Derivatives, Net:         
Fair Value as of Beginning of Period$ (818.3) $ (38.5) $ (856.8)
Net Realized/Unrealized Gains/(Losses) Included in:         
 Net Income (1)  -   1.2   1.2
 Regulatory Assets/Liabilities  (49.8)   (0.9)   (50.7)
Settlements  (5.7)   2.2   (3.5)
Fair Value as of End of Period$ (873.8) $ (36.0) $ (909.8)
Period Change in Unrealized Gains Included in        
 Net Income Relating to Items Held as of End of Period$ - $ 1.0 $ 1.0

  For the Nine Months Ended September 30, 2010
  NU
  Commodity      
  and Capacity Commodity   
  Contracts Supply and   
  Required By  Price Risk   
(Millions of Dollars)Regulation Management Total Level 3
Derivatives, Net:         
Fair Value as of Beginning of Period$ (720.3) $ (40.9) $ (761.2)
Net Realized/Unrealized Gains/(Losses) Included in:         
 Net Income(1)  -   1.7   1.7
 Regulatory Assets/Liabilities  (141.6)   (5.1)   (146.7)
Settlements  (11.9)   8.3   (3.6)
Fair Value as of End of Period$ (873.8) $ (36.0) $ (909.8)
Period Change in Unrealized Gains Included in        
 Net Income Relating to Items Held as of End of Period$ - $ 0.9 $ 0.9

  For the Three Months Ended September 30, 2010
  CL&P
  Commodity      
  and Capacity Commodity   
  Contracts Supply and   
  Required By  Price Risk   
(Millions of Dollars)Regulation Management Total Level 3
Derivatives, Net:         
Fair Value as of Beginning of Period$ (818.3) $ 1.8 $ (816.5)
Net Realized/Unrealized Losses Included in:         
 Regulatory Assets/Liabilities  (49.8)   (0.8)   (50.6)
Settlements  (5.7)   (0.2)   (5.9)
Fair Value as of End of Period$ (873.8) $ 0.8 $ (873.0)

  For the Nine Months Ended September 30, 2010
  CL&P
  Commodity      
  and Capacity Commodity   
  Contracts Supply and   
  Required By  Price Risk   
(Millions of Dollars)Regulation Management Total Level 3
Derivatives, Net:         
Fair Value as of Beginning of Period$ (720.3) $ 4.5 $ (715.8)
Net Realized/Unrealized Losses Included in:         
 Regulatory Assets/Liabilities  (141.6)   (4.4)   (146.0)
Settlements  (11.9)   0.7   (11.2)
Fair Value as of End of Period$ (873.8) $ 0.8 $ (873.0)