DERIVATIVES AND RISK MANAGEMENT (Tables)

9 Months Ended

Sep. 30, 2012

Energy Commodity Derivative

The following table presents the underlying energy commodity derivative volumes as of September 30, 2012 that are expected to settle in each respective year (in thousands of MWhs and mmBTUs):

	Purchases								Sales
	Electric Derivatives				Gas Derivatives				Electric Derivatives				Gas Derivatives
	Physical		Financial		Physical		Financial		Physical		Financial		Physical		Financial
Year	MWH		MWH		mmBTUs		mmBTUs		MWH		MWH		mmBTUs		mmBTUs
2012		766		711		8,726		30,181		126		488		2,642		29,878
2013		594		2,237		14,816		79,548		309		2,446		4,432		63,423
2014		397		620		6,316		51,359		409		1,697		1,786		29,587
2015		379		614		3,390		19,205		286		614		—		17,325
2016		366		—		1,365		455		287		—		—		—
Thereafter		949		—		—		—		730		—		—		—

Interest Rate Swaps Agreements

The following table summarizes the interest rate swaps that the Company has entered into as of September 30, 2012 and December 31, 2011 (dollars in thousands):

	September 30,		December 31,
	2012		2011
Number of contracts		—		3
Notional amount		—	$	75,000
Mandatory cash settlement date		—		July 2012
Number of contracts		2		2
Notional amount	$	85,000	$	85,000
Mandatory cash settlement date		June 2013		June 2013
Number of contracts		2		—
Notional amount	$	50,000		—
Mandatory cash settlement date		October 2014		—
Number of contracts		1		—
Notional amount	$	25,000		—
Mandatory cash settlement date		October 2015		—

Foreign Currency Exchange Contracts

The following table summarizes the foreign currency hedges that the Company has entered into as of September 30, 2012 and December 31, 2011 (dollars in thousands):

	September 30,		December 31,
	2012		2011
Number of contracts		30		28
Notional amount (in United States dollars)	$	6,578	$	7,033
Notional amount (in Canadian dollars)	$	6,469	$	7,192

Derivative Instrument Summary

The following table presents the fair values and locations of derivative instruments recorded on the Condensed Consolidated Balance Sheet as of September 30, 2012 (in thousands):

		Fair Value
Derivative	Balance Sheet Location	Asset		Liability			Collateral Netting		Net Asset (Liability)
Foreign currency contracts	Other current liabilities	$	—	$	(30	)	$	—	$	(30	)
Interest rate contracts	Other current liabilities		—		(3,827	)		—		(3,827	)
Interest rate contracts	Other intangibles, property and investments - net		5,069		—			—		5,069
Commodity contracts	Current utility energy commodity derivative assets		1,857		(179	)		—		1,678
Commodity contracts	Non-current utility energy commodity derivative assets		1,709		(636	)		—		1,073
Commodity contracts	Current utility energy commodity derivative liabilities		46,879		(89,805	)		7,138		(35,788	)
Commodity contracts	Other non-current liabilities and deferred credits		26,616		(57,800	)		2,336		(28,848	)
Total derivative instruments recorded on the balance sheet		$	82,130	$	(152,277	)	$	9,474	$	(60,673	)

The following table presents the fair values and locations of derivative instruments recorded on the Condensed Consolidated Balance Sheet as of December 31, 2011 (in thousands):

		Fair Value
Derivative	Balance Sheet Location	Asset		Liability			Net Asset (Liability)
Foreign currency contracts	Other current assets	$	32	$	—		$	32
Interest rate contracts	Other current liabilities		—		(16,253	)		(16,253	)
Interest rate contracts	Other non-current liabilities and deferred credits		—		(2,642	)		(2,642	)
Commodity contracts	Current utility energy commodity derivative assets		1,618		(479	)		1,139
Commodity contracts	Non-current utility energy commodity derivative assets		185		—			185
Commodity contracts	Current utility energy commodity derivative liabilities		40,090		(110,914	)		(70,824	)
Commodity contracts	Other non-current liabilities and deferred credits		44,308		(84,838	)		(40,530	)
Total derivative instruments recorded on the balance sheet		$	86,233	$	(215,126	)	$	(128,893	)