DERIVATIVE INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of derivative assets and liabilities

The following table shows our derivative assets and derivative liabilities. None of the derivatives shown below were designated as hedging instruments.

	September 30, 2024				December 31, 2023
(in millions)	Derivative Assets		Derivative Liabilities		Derivative Assets		Derivative Liabilities
Current
Natural gas contracts	$	17.5	$	41.3	$	10.4	$	78.1
FTRs and TCRs	12.0		—		7.2		—
Coal contracts	—		—		0.3		10.9
Total current	29.5		41.3		17.9		89.0
Long-term
Natural gas contracts	0.8		2.5		0.1		8.0
Coal contracts	—		—		—		9.4
Total long-term	0.8		2.5		0.1		17.4
Total	$	30.3	$	43.8	$	18.0	$	106.4

Schedule of estimated notional sales volumes and realized gains and losses

Our estimated notional sales volumes and realized gains and losses were as follows:

	Three Months Ended September 30, 2024			Three Months Ended September 30, 2023
(in millions)	Volumes	Gains (Losses)		Volumes	Gains (Losses)
Natural gas contracts	38.6 Dth	$	(24.0)	37.8 Dth	$	(56.3)
FTRs and TCRs	7.9 MWh	4.0		8.1 MWh	21.9
Total		$	(20.0)		$	(34.4)
	Nine Months Ended September 30, 2024			Nine Months Ended September 30, 2023
(in millions)	Volumes	Gains (Losses)		Volumes	Gains (Losses)
Natural gas contracts	154.5 Dth	$	(110.7)	144.2 Dth	$	(200.7)
FTRs and TCRs	23.1 MWh	7.6		22.9 MWh	26.4
Total		$	(103.1)		$	(174.3)

Schedule of net derivative instruments

The following table shows derivative assets and derivative liabilities if derivative instruments by counterparty were presented net on our balance sheets:

	September 30, 2024					December 31, 2023
(in millions)	Derivative Assets		Derivative Liabilities			Derivative Assets		Derivative Liabilities
Gross amount recognized on the balance sheet	$	30.3	$	43.8		$	18.0	$	106.4
Gross amount not offset on the balance sheet	(7.4)		(24.5)		(1)	(3.1)		(71.0)		(2)
Net amount	$	22.9	$	19.3		$	14.9	$	35.4

(1)Includes cash collateral posted of $17.1 million.

(2)Includes cash collateral posted of $67.9 million.