Regulatory assets and liabilities include the following:



At December 31,	2013		2012
(millions)
Dominion
Regulatory assets:
Deferred rate adjustment clause costs⁽¹⁾	$	89	$	55
Unrecovered gas costs⁽²⁾	50		59
Virginia sales taxes⁽³⁾	46		37
Derivatives⁽⁴⁾	16		—
Plant retirement⁽⁵⁾	1		25
Other	15		27
Regulatory assets-current⁽⁶⁾	217		203
Unrecognized pension and other postretirement benefit costs⁽⁷⁾	706		1,210
Deferred rate adjustment clause costs⁽¹⁾	287		173
Income taxes recoverable through future rates⁽⁸⁾	155		140
Derivatives⁽⁴⁾	16		105
Other postretirement benefit costs⁽⁹⁾	12		21
Plant retirement⁽⁵⁾	10		11
Other	42		57
Regulatory assets-non-current	1,228		1,717
Total regulatory assets	$	1,445	$	1,920
Regulatory liabilities:
PIPP⁽¹⁰⁾	$	76	$	100
Deferred cost of fuel used in electric generation⁽¹¹⁾	24		7
Other	28		29
Regulatory liabilities-current⁽¹²⁾	128		136
Provision for future cost of removal and AROs⁽¹³⁾	1,028		985
Decommissioning trust⁽¹⁴⁾	693		501
Unrecognized pension and other postretirement benefit costs⁽⁷⁾	174		2
Deferred cost of fuel used in electric generation⁽¹¹⁾	90		13
Other	16		13
Regulatory liabilities-non-current	2,001		1,514
Total regulatory liabilities	$	2,129	$	1,650
Virginia Power
Regulatory assets:
Deferred rate adjustment clause costs⁽¹⁾	$	62	$	51
Virginia sales taxes⁽³⁾	46		37
Derivatives⁽⁴⁾	16		—
Plant retirement⁽⁵⁾	1		25
Other	3		6
Regulatory assets-current	128		119
Deferred rate adjustment clause costs⁽¹⁾	227		127
Income taxes recoverable through future rates⁽⁸⁾	124		110
Derivatives⁽⁴⁾	16		105
Plant retirement⁽⁵⁾	10		11
Other	40		43
Regulatory assets-non-current	417		396
Total regulatory assets	$	545	$	515
Regulatory liabilities:
Deferred cost of fuel used in electric generation⁽¹¹⁾	$	24	$	7
Other	17		25
Regulatory liabilities-current	41		32
Provision for future cost of removal⁽¹³⁾	807		763
Decommissioning trust⁽¹⁴⁾	693		501


(1)	Reflects deferrals under the electric transmission FERC formula rate and the deferral of costs associated with certain current and prospective rider projects. See Note 13 for more information.

(2) Reflects unrecovered gas costs at Dominion's regulated gas operations, which are recovered through annual filings with the applicable regulatory authority.


(3)	Amounts to be recovered through an annual surcharge to reimburse Virginia Power for incremental sales taxes being incurred due to the repeal of the public service company sales tax exemption in Virginia.


(4)	As discussed under Derivative Instruments in Note 2, for jurisdictions subject to cost-based rate regulation, changes in the fair value of derivative instruments result in the recognition of regulatory assets or regulatory liabilities as they are expected to be recovered from or refunded to customers.


(5)	Reflects costs anticipated to be recovered in North Carolina base rates for certain coal units expected to be retired.

(6) Current regulatory assets are presented in other current assets in Dominion's Consolidated Balance Sheets.


(7)	Represents unrecognized pension and other postretirement benefit costs expected to be recovered through future rates generally over the expected remaining service period of plan participants by certain of Dominion's rate-regulated subsidiaries.


(8)	Amounts to be recovered through future rates to pay income taxes that become payable when rate revenue is provided to recover AFUDC-equity and depreciation of property, plant and equipment for which deferred income taxes were not recognized for ratemaking purposes, including amounts attributable to tax rate changes.


(9)	Primarily reflects costs recognized in excess of amounts included in regulated rates charged by Dominion's regulated gas operations before rates were updated to reflect a change in accounting method for other postretirement benefit costs.


(10)	Under PIPP, eligible customers can receive energy assistance based on their ability to pay. The difference between the customer's total bill and the PIPP plan amount is deferred and collected or returned annually under the PIPP rider according to East Ohio tariff provisions. See Note 13 for more information regarding PIPP.


(11)	Primarily reflects deferred fuel expenses for the Virginia jurisdiction of Virginia Power's generation operations. For 2013, amount includes approximately $5 million related to DOE claims. See Note 13 for more information.

(12) Current regulatory liabilities are presented in other current liabilities in Dominion's Consolidated Balance Sheets.


(13)	Rates charged to customers by the Companies' regulated businesses include a provision for the cost of future activities to remove assets that are expected to be incurred at the time of retirement.


(14)	Primarily reflects a regulatory liability representing amounts collected from Virginia jurisdictional customers and placed in external trusts (including income, losses and changes in fair value thereon) for the future decommissioning of Virginia Power's utility nuclear generation stations, in excess of the related ARO.

Deferred cost of fuel used in electric generation⁽¹¹⁾

Regulatory liabilities-non-current

Total regulatory liabilities