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CREDIT LOSSES (Tables)
6 Months Ended
Jun. 30, 2023
Credit Loss [Abstract]  
Schedule of gross receivables and related allowances for credit losses
We have included a table below that shows our gross third-party receivable balances and related allowance for credit losses.
(in millions)June 30, 2023December 31, 2022
Accounts receivable and unbilled revenues $571.1 $632.3 
Allowance for credit losses45.1 49.7 
Accounts receivable and unbilled revenues, net (1)
$526.0 $582.6 
Total accounts receivable, net – past due greater than 90 days (1)
$39.3 $35.8 
Past due greater than 90 days – collection risk mitigated by regulatory mechanisms (1)
96.6 %97.5 %
(1)Our exposure to credit losses for certain regulated utility customers is mitigated by a regulatory mechanism we have in place. Specifically, our residential tariffs include a mechanism for cost recovery or refund of uncollectible expense based on the difference between actual uncollectible write-offs and the amounts recovered in rates. As a result, at June 30, 2023, $270.4 million, or 51.4%, of our net accounts receivable and unbilled revenues balance had regulatory protections in place to mitigate the exposure to credit losses.
Rollforward of the allowances for credit losses
A rollforward of the allowance for credit losses is included below:
Three Months Ended June 30
(in millions)20232022
Balance at April 1$53.7 $51.8 
Provision for credit losses4.7 6.6 
Provision for credit losses deferred for future recovery or refund1.7 0.2 
Write-offs charged against the allowance(21.3)(15.5)
Recoveries of amounts previously written off6.3 4.5 
Balance at June 30$45.1 $47.6 

Six Months Ended June 30
(in millions)20232022
Balance at January 1$49.7 $51.4 
Provision for credit losses11.3 12.7 
Provision for credit losses deferred for future recovery or refund15.5 7.3 
Write-offs charged against the allowance(41.6)(34.3)
Recoveries of amounts previously written off10.2 10.5 
Balance at June 30$45.1 $47.6