DERIVATIVE INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair value of derivative instruments

The fair values of all derivative instruments, as reflected in the condensed balance sheets as of March 31, 2014 and December 31, 2013, are as follows (in thousands):

Derivatives not designated as hedging instruments under GAAP	March 31, 2014				December 31, 2013
	Assets		Liabilities		Assets		Liabilities
Energy related commodity contracts:
Derivatives – Energy Related – Current	$	2,121	$	280	$	1,222	$	711
Derivatives – Energy Related – Non-Current	69		186		278		48
Interest rate contracts:
Derivatives – Other	—		4,735		—		3,735
Total derivatives not designated as hedging instruments under GAAP	2,190		5,201		1,500		4,494
Total Derivatives	$	2,190	$	5,201	$	1,500	$	4,494

Offsetting assets and liabilities

For derivative instruments disclosed in the table above, information as to the presentation on the condensed balance sheets is as follows (in thousands):

As of March 31, 2014
Description	Gross amounts of recognized assets/liabilities			Gross amount offset in the balance sheet		Net amounts of assets/liabilities in balance sheet			Gross amounts not offset in the balance sheet						Net amount
									Financial Instruments				Cash Collateral Posted
Derivatives - Energy Related Assets	$	2,190		$	—	$	2,190		$	(466	)	(A)	$	—	$	1,724
Derivatives - Energy Related Liabilities	(466		)	—		(466		)	466			(B)	—		—
Derivatives - Other	(4,735		)	—		(4,735		)	—				—		(4,735		)

As of December 31, 2013
Description	Gross amounts of recognized assets/liabilities			Gross amount offset in the balance sheet		Net amounts of assets/liabilities in balance sheet			Gross amounts not offset in the balance sheet							Net amount
									Financial Instruments				Cash Collateral Posted
Derivatives - Energy Related Assets	$	1,500		$	—	$	1,500		$	(155	)	(A)	$	(498	)	$	847
Derivatives - Energy Related Liabilities	(759		)	—		(759		)	155			(B)	—			(604		)
Derivatives - Other	(3,735		)	—		(3,735		)	—				—			(3,735		)

(A) The balances at March 31, 2014 and December 31, 2013 were related to derivative liabilities which can be net settled against derivative assets.

(B) The balances at March 31, 2013 and December 31, 2013 were related to derivative assets which can be net settled against derivative liabilities.

Derivatives in cash flow hedging relationships

The effect of derivative instruments on the condensed statements of income for the three months ended March 31, 2014 and 2013 are as follows (in thousands):

	Three months ended March 31,
Derivatives in Cash Flow Hedging Relationships	2014			2013
Interest Rate Contracts:
Losses reclassified from Accumulated Other Comprehensive Loss into income (a)	$	(12	)	$	(12	)

(a) Included in Interest Charges