REGULATORY ASSETS AND LIABILITIES (Tables)

9 Months Ended

Sep. 30, 2024

Regulatory Assets and Liabilities Disclosure [Abstract]


(in millions)	September 30, 2024		December 31, 2023
Regulatory assets
Plant retirement related items (1)	$	814.3	$	646.2
Pension and OPEB costs	721.1		731.7
Environmental remediation costs	565.8		596.8
Income tax related items	438.9		449.9
AROs	169.3		162.0
Uncollectible expense	123.4		127.7
System support resource	105.5		113.2
Decoupling (2)	100.5		27.3
Securitization	79.1		85.9
Bluewater	54.8		45.3
Derivatives	50.6		130.3
Energy efficiency programs	32.4		33.9
Other, net	149.9		124.5
Total regulatory assets	$	3,405.6	$	3,274.7

Balance sheet presentation
Other current assets	$	59.1	$	24.9
Regulatory assets	3,346.5		3,249.8
Total regulatory assets	$	3,405.6	$	3,274.7

(1) At September 30, 2024, plant retirement related items included $115.0 million of capitalized retirement costs related to the new EPA CCR Rule that was enacted in April 2024. See Note 23, Commitments and Contingencies, for more information.

(2) PGL, NSG, and MERC have decoupling mechanisms. These mechanisms differ by state and allow the utilities to recover the differences between actual and authorized margins for certain customer classes.

Schedule of regulatory liabilities


(in millions)	September 30, 2024		December 31, 2023
Regulatory liabilities
Income tax related items	$	1,838.0	$	1,901.8
Removal costs	1,429.5		1,329.9
Pension and OPEB benefits	301.2		299.2
Energy costs refundable through rate adjustments	126.0		72.4
Uncollectible expense	39.2		21.2
Paris (1)	31.8		—
Derivatives	29.1		19.2
Electric transmission costs	20.5		30.3
Energy efficiency programs	16.7		17.2
Other, net	89.6		54.0
Total regulatory liabilities	$	3,921.6	$	3,745.2

Balance sheet presentation
Other current liabilities	$	32.5	$	47.5
Regulatory liabilities	3,889.1		3,697.7
Total regulatory liabilities	$	3,921.6	$	3,745.2

(1) In accordance with our Wisconsin rate orders approved by the PSCW in December 2023, WE and WPS are deferring to a future rate proceeding the incremental revenue requirement impact associated with the change to the in-service date of Paris.