XML 124 R74.htm IDEA: XBRL DOCUMENT v2.4.0.6
Accounting for Derivative Instruments and Hedging Activities (Schedule of Derivative Assets and Liabilities) (Details) (USD $)
Jun. 30, 2012
Dec. 31, 2011
Dec. 31, 2010
Derivative [Line Items]      
Regulatory Assets   $ 901,545,000 $ 1,048,589,000
Assets, Current 6,973,000 6,647,000 7,500,000
Assets, Long-term 15,981,000 10,084,000 8,233,000
Liabilities, Current 277,246,000 327,089,000 273,100,000
Liabilities, Long-term 113,209,000 196,558,000 183,135,000
PUGET ENERGY
     
Derivative [Line Items]      
Liabilities, Current   25,210,000 30,047,000
Liabilities, Long-term   27,199,000 27,956,000
PUGET SOUND ENERGY, INC.
     
Derivative [Line Items]      
Regulatory Assets   848,143,000 [1] 887,614,000 [1]
Offsetting regulatory assets 150,800,000 200,900,000  
Natural Gas Portfolio
     
Derivative [Line Items]      
Regulatory Assets   200,900,000 149,700,000
Natural Gas Portfolio | PUGET SOUND ENERGY, INC.
     
Derivative [Line Items]      
Regulatory Assets   200,900,000 149,700,000
Not Designated as Hedging Instrument
     
Derivative [Line Items]      
Total derivative assets 22,954,000 [2] 16,731,000 [2]  
Total derivative liabilities 370,308,000 [3] 471,238,000 [3]  
Not Designated as Hedging Instrument | PUGET ENERGY
     
Derivative [Line Items]      
Total derivative assets   16,731,000 [4] 15,733,000 [4]
Total derivative liabilities   523,647,000 [4] 456,235,000 [4]
Not Designated as Hedging Instrument | Interest Rate Swap | PUGET ENERGY
     
Derivative [Line Items]      
Assets, Current 0 [2] 0 [2],[4] 0 [4]
Assets, Long-term 0 [2] 0 [2],[4] 0 [4]
Total derivative assets 0 [2] 0 [2]  
Liabilities, Current 6,223,000 [3] 25,210,000 [3],[4] 30,047,000 [4]
Liabilities, Long-term 13,924,000 [3] 27,199,000 [3],[4] 27,956,000 [4]
Total derivative liabilities 20,147,000 [3] 52,409,000 [3]  
Not Designated as Hedging Instrument | Electric Portfolio
     
Derivative [Line Items]      
Assets, Current 4,031,000 [2] 5,212,000 [2]  
Assets, Long-term 9,523,000 [2] 5,508,000 [2]  
Liabilities, Current 160,033,000 [3] 173,582,000 [3]  
Liabilities, Long-term 50,048,000 [3] 90,752,000 [3]  
Not Designated as Hedging Instrument | Electric Portfolio | PUGET ENERGY
     
Derivative [Line Items]      
Assets, Current   5,212,000 [4] 4,716,000 [4]
Assets, Long-term   5,508,000 [4] 5,046,000 [4]
Liabilities, Current   173,582,000 [4] 142,780,000 [4]
Liabilities, Long-term   90,752,000 [4] 99,801,000 [4]
Not Designated as Hedging Instrument | Electric Portfolio | PUGET SOUND ENERGY, INC.
     
Derivative [Line Items]      
Assets, Current   5,212,000 [4] 4,716,000 [4]
Assets, Long-term   5,508,000 [4] 5,046,000 [4]
Liabilities, Current   173,582,000 [4] 142,780,000 [4]
Liabilities, Long-term   90,752,000 [4] 99,801,000 [4]
Not Designated as Hedging Instrument | Natural Gas Portfolio
     
Derivative [Line Items]      
Assets, Current 2,942,000 [2],[5] 1,435,000 [2],[5]  
Assets, Long-term 6,458,000 [2],[5] 4,576,000 [2],[5]  
Liabilities, Current 110,990,000 [3],[5] 128,297,000 [3],[5]  
Liabilities, Long-term 49,237,000 [3],[5] 78,607,000 [3],[5]  
Not Designated as Hedging Instrument | Natural Gas Portfolio | PUGET ENERGY
     
Derivative [Line Items]      
Assets, Current   1,435,000 [4],[6] 2,784,000 [4],[6]
Assets, Long-term   4,576,000 [4],[6] 3,187,000 [4],[6]
Liabilities, Current   128,297,000 [4],[6] 100,273,000 [4],[6]
Liabilities, Long-term   78,607,000 [4],[6] 55,378,000 [4],[6]
Not Designated as Hedging Instrument | Natural Gas Portfolio | PUGET SOUND ENERGY, INC.
     
Derivative [Line Items]      
Assets, Current   1,435,000 [4],[7] 2,784,000 [4],[7]
Assets, Long-term   4,576,000 [4],[7] 3,187,000 [4],[7]
Total derivative assets   16,731,000 [4] 15,733,000 [4]
Liabilities, Current   128,297,000 [4],[7] 100,273,000 [4],[7]
Liabilities, Long-term   78,607,000 [4],[7] 55,378,000 [4],[7]
Total derivative liabilities   $ 471,238,000 [4] $ 398,232,000 [4]
[1] Puget Energy’s regulatory assets and liabilities include purchase accounting adjustments as a result of the merger. For additional information, see Note 3.
[2] Balance sheet location: Unrealized gain on derivative instruments.
[3] Balance sheet location: Unrealized loss on derivative instruments.
[4] Balance sheet location: Unrealized (gain) loss on derivative instruments.
[5] PSE had a net derivative liability and an offsetting regulatory asset of $150.8 million at June 30, 2012 and $200.9 million at December 31, 2011 related to financial contracts used to economically hedge the cost of physical gas purchased to serve natural gas customers. All fair value adjustments on derivatives relating to the natural gas business have been reclassified to a deferred account in accordance with ASC 980, “Regulated Operations” (ASC 980) due to the Purchased Gas Adjustment (PGA) mechanism. All increases and decreases in the cost of natural gas supply are passed on to customers with the PGA mechanism and the gains and losses on the hedges in future periods will be recorded as gas costs.
[6] Puget Energy had a derivative liability and an offsetting regulatory asset of $200.9 million at December 31, 2011 and $149.7 million at December 31, 2010 related to financial contracts used to economically hedge the cost of physical gas purchased to serve natural gas customers. All fair value adjustments on derivatives relating to the natural gas business have been reclassified to a deferred account in accordance with ASC 980 due to the PGA mechanism. All increases and decreases in the cost of natural gas supply are passed on to customers with the PGA mechanism and the gains and losses on the hedges in future periods will be recorded as gas costs.
[7] PSE had a derivative liability and an offsetting regulatory asset of $200.9 million at December 31, 2011 and $149.7 million at December 31, 2010 related to financial contracts used to economically hedge the cost of physical gas purchased to serve natural gas customers. All fair value adjustments on derivatives relating to the natural gas business have been reclassified to a deferred account in accordance with ASC 980 due to the PGA mechanism. All increases and decreases in the cost of natural gas supply are passed on to customers with the PGA mechanism and the gains and losses on the hedges in future periods will be recorded as gas costs.