Derivative Accounting (Tables)

6 Months Ended

Jun. 30, 2011

Derivative Accounting

Outstanding gross notional amount of derivatives, which represents both purchases and sales (does not reflect net position)

Commodity	Quantity
Power	13,226,728	megawatt hours
Gas	145,891,520	MMBTU (a)

(a) “MMBTU” is one million British thermal units.

Gains and losses from derivative instruments in designated accounting hedging relationships

	Financial Statement	Three Months Ended June 30,						Six Months Ended June 30,
Commodity Contracts	Location	2011			2010			2011			2010
Amount of Loss Recognized in AOCI on Derivative Instruments (Effective Portion)	Accumulated other comprehensive loss-derivative instruments	$	(16,324	)	$	(8,588	)	$	(15,335	)	$	(100,255	)
Amount of Loss Reclassified from AOCI into Income (Effective Portion Realized)	Regulated electricity segment fuel and purchased power	(25,287		)	(29,143		)	(40,133		)	(42,329		)
Amount of Gain (Loss) Recognized in Income from Derivative Instruments (Ineffective Portion and Amount Excluded from Effectiveness Testing) (a)	Regulated electricity segment fuel and purchased power	(176		)	11,899			(164		)	1,432

(a) During the three and six months ended June 30, 2011 and 2010, we had no amounts reclassified from AOCI to earnings related to discontinued cash flow hedges.

Gains and losses from derivative instruments not designated as accounting hedging instruments

		Three Months Ended June 30,						Six Months Ended June 30,
Commodity Contracts	Financial Statement Location	2011			2010			2011			2010
Amount of Net Gain (Loss) Recognized in Income from Derivative Instruments	Regulated electricity segment revenue	$	(503	)	$	426		$	1,004		$	595
Amount of Net Loss Recognized in Income from Derivative Instruments	Regulated electricity segment fuel and purchased power expense	(2,892		)	(29,260		)	(11,919		)	(64,228		)
Total		$	(3,395	)	$	(28,834	)	$	(10,915	)	$	(63,633	)

Fair value of derivative instruments, margin account and cash collateral reported on a gross basis

Commodity Contracts	Current Assets			Investments and Other Assets		Current Liabilities			Deferred Credits and Other			Total Assets (Liabilities)
Derivatives designated as accounting hedging instruments:
Assets	$	329		$	—	$	11,730		$	3,011		$	15,070
Liabilities	(550		)	—		(90,187		)	(57,209		)	(147,946		)
Total hedging instruments	(221		)	—		(78,457		)	(54,198		)	(132,876		)
Derivatives not designated as accounting hedging instruments:
Assets	24,607			43,173		31,946			10,365			110,091
Liabilities	(869		)	—		(94,294		)	(82,903		)	(178,066		)
Total non-hedging instruments	23,738			43,173		(62,348		)	(72,538		)	(67,975		)
Total derivatives	23,517			43,173		(140,805		)	(126,736		)	(200,851		)
Margin account	2,137			—		11,087			3,862			17,086
Collateral provided to counterparties (a)	10,000			—		81,669			65,801			157,470
Collateral provided from counterparties (a)	—			—		(12,145		)	—			(12,145		)
Prepaid option premiums and other	3,243			—		1,510			—			4,753
Balance Sheet Total	$	38,897		$	43,173	$	(58,684	)	$	(57,073	)	$	(33,687	)

(a) Amounts represent collateral relating to non-derivatives and derivative instruments, including those that qualify for scope exceptions.

The following table provides information about the fair value of our derivative instruments, margin account and cash collateral reported on a gross basis at December 31, 2010 (dollars in thousands):

Commodity Contracts	Current Assets			Investments and Other Assets			Current Liabilities			Deferred Credits and Other			Total Assets (Liabilities)
Derivatives designated as accounting hedging instruments:
Assets	$	1,234		$	142		$	9,062		$	4,913		$	15,351
Liabilities	(602		)	(1,933		)	(107,784		)	(71,109		)	(181,428		)
Total hedging instruments	632			(1,791		)	(98,722		)	(66,196		)	(166,077		)
Derivatives not designated as accounting hedging instruments:
Assets	36,831			40,927			27,322			19,886			124,966
Liabilities	(312		)	(33		)	(112,535		)	(85,473		)	(198,353		)
Total non-hedging instruments	36,519			40,894			(85,213		)	(65,587		)	(73,387		)
Total derivatives	37,151			39,103			(183,935		)	(131,783		)	(239,464		)
Margin account	24,579			—			997			—			25,576
Collateral provided to counterparties (a)	11,556			—			125,367			66,393			203,316
Collateral provided from counterparties (a)	(1,750		)	—			(1,250		)	—			(3,000		)
Prepaid option premiums and other	2,252			(71		)	(155		)	—			2,026
Balance Sheet Total	$	73,788		$	39,032		$	(58,976	)	$	(65,390	)	$	(11,546	)

(a) Amounts represent collateral relating to non-derivatives and derivative instruments, including those that qualify for scope exceptions.