Regulatory Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2014

Regulatory Assets and Liabilities Disclosure [Abstract]

Regulatory Assets And Liabilities

The following table summarizes the components of the Company’s regulatory asset and liability balances at December 31, 2014 and 2013.

	December 31,
	2014				2013
	Current		Long-term		Current		Long-term
REGULATORY ASSETS
Recoverable cost of gas purchases	$	692,117	$	-	$	1,209,982	$	-
Deferred costs		489,996		1,715,006		-		-
Deferred loss on commodity swaps		2,872,385		-		-		-
Income taxes		-		296,819		-		296,819
Property taxes		-		-		-		25,000
Rate case costs		43,324		43,579		-		130,228
Total regulatory assets	$	4,097,822	$	2,055,404	$	1,209,982	$	452,047
REGULATORY LIABILITIES
Over-recovered gas pruchases	$	925,175	$	-	$	793,184	$	-
Income taxes		-		83,161		-		83,161
Asset retirement costs		-		1,006,689		-		881,301
Total regulatory liabilities	$	925,175	$	1,089,850	$	793,184	$	964,462

Liability is Equal to Percent of Asset Cost

The liability is equal to a set percent of the asset’s historic cost according to the following table:

	Percent of Asset Cost
	Orwell			Brainard
Mains		15	%		20	%
Meter/regulator stations		10	%
Service lines		75	%