CREDIT LOSSES (Tables)

9 Months Ended

Sep. 30, 2021

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)	September 30, 2021			December 31, 2020
Accounts receivable and unbilled revenues	$	201.1		$	209.1
Allowance for credit losses	10.5			18.3
Accounts receivable and unbilled revenues, net (1)	$	190.6		$	190.8
Total accounts receivable, net – past due greater than 90 days (1)	$	7.5		$	12.6
Past due greater than 90 days – collection risk mitigated by regulatory mechanisms (1)	96.0		%	94.4		%

(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 September 30, 2021, $70.2 million, or 36.8%, of our net accounts receivable and unbilled revenues balance had regulatory protections in place to mitigate the exposure to credit losses. In addition, we have received specific orders related to the deferral of certain costs (including credit losses) incurred as a result of the COVID-19 pandemic. The additional protections related to our accounts receivable and unbilled revenue balances provided by these orders are subject to prudency reviews and are still being assessed. They are not reflected in the percentages in the above table or this note. See Note 19, Regulatory Environment, for more information on these orders.

Rollforward of the allowances for credit losses

A rollforward of the allowance for credit losses for the three and nine months ended September 30, 2021 and 2020 is included below:

	Three Months Ended
(in millions)	September 30, 2021		September 30, 2020
Balance at June 30	$	13.3	$	10.0
Provision for credit losses	1.5		3.5
Provision for credit losses deferred for future recovery or refund	(3.0)		1.8
Write-offs charged against the allowance	(2.2)		(1.5)
Recoveries of amounts previously written off	0.9		0.9
Balance at September 30	$	10.5	$	14.7

	Nine Months Ended
(in millions)	September 30, 2021		September 30, 2020
Balance at December 31	$	18.3	$	4.2
Provision for credit losses	4.0		8.7
Provision for credit losses deferred for future recovery or refund	(8.0)		5.1
Write-offs charged against the allowance	(6.5)		(6.1)
Recoveries of amounts previously written off	2.7		2.8
Balance at September 30	$	10.5	$	14.7