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DERIVATIVE INSTRUMENTS (Tables)
 12 Months Ended
Dec. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The following table presents the gross fair values of contracts, categorized by risk type, and the net amounts recorded as current or long-term derivative assets or liabilities:
 
As of December 31,
 
2017
 
2016
(Millions of Dollars)
Commodity Supply
and Price Risk
Management
 
Netting (1)
 
Net Amount
Recorded as
a Derivative
 
Commodity Supply
and Price Risk
Management
 
Netting (1)
 
Net Amount
Recorded as
a Derivative
Current Derivative Assets:
Level 2:
 
 
 
 
 
 
 
 
 
 
 
Eversource
$
—

 
$
—

 
$
—

 
$
6.0

 
$
—

 
$
6.0

Level 3:
 
 
 
 
 
 
 
 
 
 
 
CL&P
9.5

 
(7.1
)
 
2.4

 
13.9

 
(9.4
)
 
4.5

Long-Term Derivative Assets:
Level 2:
 
 
 
 
 
 
 
 
 
 
 
Eversource
$
—

 
$
—

 
$
—

 
$
0.3

 
$
(0.1
)
 
$
0.2

Level 3:
 
 
 
 
 
 
 
 
 
 
 
CL&P
71.9

 
(5.3
)
 
66.6

 
77.3

 
(11.7
)
 
65.6

Current Derivative Liabilities:
Level 2:
 
 
 
 
 
 
 
 
 
 
 
Eversource
$
(4.5
)
 
$
—

 
$
(4.5
)
 
$
—

 
$
—

 
$
—

Level 3:
 
 
 
 
 
 
 
 
 
 
 
Eversource
(54.4
)
 
—

 
(54.4
)
 
(79.7
)
 
—

 
(79.7
)
CL&P
(54.4
)
 
—

 
(54.4
)
 
(77.8
)
 
—

 
(77.8
)
Long-Term Derivative Liabilities:
Level 2:
 
 
 
 
 
 
 
 
 
 
 
Eversource
$
(0.4
)
 
$
—

 
$
(0.4
)
 
$
—

 
$
—

—

$
—

Level 3:
 
 
 
 
 
 
 
 
 
 
 
Eversource
(376.9
)
 
—

 
(376.9
)
 
(413.7
)
 
—

 
(413.7
)
CL&P
(376.9
)
 
—

 
(376.9
)
 
(412.8
)
 
—

 
(412.8
)

(1)
Amounts represent derivative assets and liabilities that Eversource elected to record net on the balance sheets.  These amounts are subject to master netting agreements or similar agreements for which the right of offset exists.
Fair Value Inputs, Liabilities, Quantitative Information
The following is a summary of CL&P's Level 3 derivative contracts and the range of the significant unobservable inputs utilized in the valuations over the duration of the contracts:
 
As of December 31,
 
2017
 
2016
CL&P
Range
 
Period Covered
 
Range
 
Period Covered
Capacity Prices
$
5.00

 
—
 
8.70
 
per kW-Month
 
2021 - 2026
 
$
5.50

 
—
 
8.70
 
per kW-Month
 
2020 - 2026
Forward Reserve
1.00

 
—
 
2.00
 
per kW-Month
 
2018 - 2024
 
1.40

 
—
 
2.00
 
per kW-Month
 
2017 - 2024
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation
 The following table presents changes in the Level 3 category of derivative assets and derivative liabilities measured at fair value on a recurring basis.  The derivative assets and liabilities are presented on a net basis.
(Millions of Dollars)
Eversource
 
CL&P
Derivatives, Net:
 
 
 
Fair Value as of January 1, 2016
$
(380.9
)
 
$
(380.8
)
Net Realized/Unrealized Losses Included in Regulatory Assets and Liabilities
(130.7
)
 
(122.7
)
Settlements
88.3

 
83.0

Fair Value as of December 31, 2016
$
(423.3
)
 
$
(420.5
)
Transfer out of Level 3
1.2

 
—

Net Realized/Unrealized Losses Included in Regulatory Assets and Liabilities
(11.4
)
 
(9.5
)
Settlements
71.2

 
67.7

Fair Value as of December 31, 2017
$
(362.3
)
 
$
(362.3
)