INCOME TAXES AND CREDITS (Tables)

12 Months Ended

Dec. 31, 2013

Income Tax Disclosure [Abstract]

Schedule of effective income tax rate reconciliation

Total income taxes applicable to operations differ from the tax that would have resulted by applying the statutory Federal income tax rate to pre-tax income for the following reasons (in thousands):

	2013			2012			2011
Tax at Statutory Rate	$	33,974		$	32,183		$	30,510
Increase (Decrease) Resulting from:
State Income Taxes	4,833			5,302			5,316
Amortization of Investment Tax Credits	(258		)	(287		)	(302		)
ESOP Dividend	(1,058		)	(1,027		)	(956		)
AFUDC	(916		)	(1,048		)	(729		)
Amortization of Flowthrough Depreciation	—			—			526
Other - Net	(1,742		)	(1,412		)	(84		)
Net Income Taxes	$	34,833		$	33,711		$	34,281

Schedule of components of provision for income taxes

The provision for Income Taxes is comprised of the following (in thousands):

	2013			2012			2011
Current:
Federal	$	(53	)	$	(4,635	)	$	(924	)
State	2,946			(7		)	168
Total Current	2,893			(4,642		)	(756		)
Deferred:
Federal	27,707			30,477			27,329
State	4,491			8,163			8,010
Total Deferred	32,198			38,640			35,339
Investment Tax Credits	(258		)	(287		)	(302		)
Net Income Taxes	$	34,833		$	33,711		$	34,281

Schedule of deferred tax assets and liabilities

The net tax effect of temporary differences between the carrying amounts of assets and liabilities for financial reporting and income tax purposes resulted in the following net deferred tax liabilities at December 31 (in thousands):

	2013			2012
Current:
Net Operating Loss Carryforward	$	(27,600	)	$	(2,586	)
Budget Billing - Customer Accounts	1,152			1,033
Provision for Uncollectibles	(1,726		)	(1,409		)
Conservation Incentive Program	4,631			13,942
Section 461 Prepayments	1,156			930
Other	(922		)	(1,478		)
Current Deferred Tax (Asset) Liability - Net	$	(23,309	)	$	10,432
Noncurrent:
Book Versus Tax Basis of Property	$	371,684		$	323,470
Deferred Fuel Costs - Net	1,330			3,325
Environmental Remediation	14,392			17,643
Deferred Regulatory Costs	13,665			15,374
Deferred State Tax	(15,471		)	(15,106		)
Investment Tax Credit Basis Gross-Up	(185		)	(318		)
Deferred Pension & Other Post Retirement Benefits	24,218			39,174
Pension & Other Post Retirement Benefits	(14,152		)	(28,846		)
Deferred Revenues	(9,266		)	(8,922		)
Net Operating Loss Carryforward	(8,764		)	(35,901		)
Other	3,524			464
Noncurrent Deferred Tax Liability – Net	$	380,975		$	310,357

Reconciliation of unrecognized tax benefits

A reconciliation of unrecognized tax benefits is as follows (in thousands):

	2013		2012		2011
Balance at January 1,	$	503	$	421	$	478
Increase as a result of tax position taken in prior years	44		82		119
Decrease due to a lapse in the statue of limitations	—		—		(90		)
Settlements	—		—		(86		)
Balance at December 31,	$	547	$	503	$	421