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DERIVATIVE INSTRUMENTS (Tables)
 12 Months Ended
Dec. 31, 2019
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,
 
 
 
2019
 
2018
(Millions of Dollars)
Fair Value Hierarchy
 
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:
CL&P
Level 3
 
$
12.2

 
$
(0.4
)
 
$
11.8

 
$
9.6

 
$
(3.4
)
 
$
6.2

Other
Level 2
 
—

 
—

 
—

 
1.5

 
(0.9
)
 
0.6

Long-Term Derivative Assets:
CL&P
Level 3
 
67.5

 
(2.1
)
 
65.4

 
74.2

 
(2.3
)
 
71.9

Current Derivative Liabilities:
CL&P
Level 3
 
(67.8
)
 
—

 
(67.8
)
 
(55.1
)
 
—

 
(55.1
)
Other
Level 2
 
(5.2
)
 
—

 
(5.2
)
 
—

 
—

 
—

Long-Term Derivative Liabilities:
CL&P
Level 3
 
(338.6
)
 
—

 
(338.6
)
 
(379.5
)
 
—

 
(379.5
)
Other
Level 2
 
(0.1
)
 
—

 
(0.1
)
 
—

 
—

 
—


(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 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,
 
2019
 
2018
CL&P
Range
 
Period Covered
 
Range
 
Period Covered
Capacity Prices
$
3.01

 
—
 
7.34
 
per kW-Month
 
2023 - 2026
 
$
4.30

 
—
 
7.44
 
per kW-Month
 
2022 - 2026
Forward Reserve
0.80

 
—
 
1.90
 
per kW-Month
 
2020 - 2024
 
0.75

 
—
 
1.78
 
per kW-Month
 
2019 - 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.
CL&P
(Millions of Dollars)
For the Years Ended December 31,
2019
 
2018
Derivatives, Net:
 
 
 
Fair Value as of Beginning of Period
$
(356.5
)
 
$
(362.3
)
Net Realized/Unrealized Losses Included in Regulatory Assets
(15.0
)
 
(32.0
)
Settlements
42.3

 
37.8

Fair Value as of End of Period
$
(329.2
)
 
$
(356.5
)