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REGULATORY ACCOUNTING
 3 Months Ended
Mar. 31, 2022
Regulated Operations [Abstract]  
REGULATORY ACCOUNTING REGULATORY ACCOUNTING
Eversource's utility companies are subject to rate regulation that is based on cost recovery and meets the criteria for application of accounting guidance for rate-regulated operations, which considers the effect of regulation on the timing of the recognition of certain revenues and expenses. The regulated companies' financial statements reflect the effects of the rate-making process.  The rates charged to the customers of Eversource's regulated companies are designed to collect each company's costs to provide service, plus a return on investment.

The application of accounting guidance for rate-regulated enterprises results in recording regulatory assets and liabilities. Regulatory assets represent the deferral of incurred costs that are probable of future recovery in customer rates. Regulatory assets are amortized as the incurred costs are recovered through customer rates. Regulatory liabilities represent either revenues received from customers to fund expected costs that have not yet been incurred or probable future refunds to customers.

Management believes it is probable that each of the regulated companies will recover its respective investments in long-lived assets and the regulatory assets that have been recorded.  If management were to determine that it could no longer apply the accounting guidance applicable to rate-regulated enterprises, or if management could not conclude it is probable that costs would be recovered from customers in future rates, the applicable costs would be charged to net income in the period in which the determination is made.
Regulatory Assets:  The components of regulatory assets were as follows:
 As of March 31, 2022As of December 31, 2021
(Millions of Dollars)EversourceCL&PNSTAR
Electric		PSNHEversourceCL&PNSTAR
Electric		PSNH
Benefit Costs$1,452.5 $268.0 $386.9 $116.5 $1,481.0 $272.4 $395.5 $118.9 
Storm Costs, Net1,249.3 735.7 449.4 64.2 1,102.7 695.6 341.3 65.8 
Regulatory Tracking Mechanisms937.7 295.2 375.0 97.0 1,050.5 333.6 376.6 85.4 
Income Taxes, Net791.2 471.8 112.8 14.5 790.7 470.5 112.6 17.5 
Securitized Stranded Costs468.1 — — 468.1 478.9 — — 478.9 
Goodwill-related293.6 — 252.1 — 297.8 — 255.7 — 
Derivative Liabilities229.4 229.4 — — 249.2 249.2 — — 
Asset Retirement Obligations117.5 34.2 61.9 4.2 115.0 33.6 59.8 4.1 
Other Regulatory Assets162.1 28.9 35.4 14.7 150.0 29.9 37.7 15.8 
Total Regulatory Assets5,701.4 2,063.2 1,673.5 779.2 5,715.8 2,084.8 1,579.2 786.4 
Less:  Current Portion1,128.1 382.1 433.7 124.7 1,129.1 371.6 444.0 107.2 
Total Long-Term Regulatory Assets$4,573.3 $1,681.1 $1,239.8 $654.5 $4,586.7 $1,713.2 $1,135.2 $679.2 

Regulatory Costs in Long-Term Assets:  Eversource's regulated companies had $262.5 million (including $113.4 million for CL&P, $84.2 million for NSTAR Electric and $3.4 million for PSNH) and $252.5 million (including $114.9 million for CL&P, $85.0 million for NSTAR Electric and $3.4 million for PSNH) of additional regulatory costs as of March 31, 2022 and December 31, 2021, respectively, that were included in long-term assets on the balance sheets.  These amounts represent incurred costs for which recovery has not yet been specifically approved by the applicable regulatory agency.  However, based on regulatory policies or past precedent on similar costs, management believes it is probable that these costs will ultimately be approved and recovered from customers in rates.

As of March 31, 2022 and December 31, 2021, these regulatory costs included incremental COVID-19 related non-tracked uncollectible expense deferred of $35.0 million and $33.0 million at Eversource, $15.3 million and $18.0 million at CL&P, and $6.1 million and $6.1 million at NSTAR Electric, respectively.

Regulatory Liabilities:  The components of regulatory liabilities were as follows:
 As of March 31, 2022As of December 31, 2021
(Millions of Dollars)EversourceCL&PNSTAR
Electric		PSNHEversourceCL&PNSTAR
Electric		PSNH
EDIT due to Tax Cuts and Jobs Act of 2017$2,665.7 $992.7 $973.3 $356.1 $2,685.2 $996.1 $984.5 $359.2 
Cost of Removal667.2 108.6 388.2 19.1 649.6 100.1 381.0 17.2 
Regulatory Tracking Mechanisms571.8 226.7 237.2 94.9 448.4 182.0 185.1 107.0 
Benefit Costs128.3 — 103.1 — 133.5 — 107.4 — 
AFUDC - Transmission85.1 44.0 41.1 — 81.0 43.2 37.8 — 
CL&P Settlement Agreement and Storm
  Performance Penalty		12.9 12.9 — — 81.3 81.3 — — 
Other Regulatory Liabilities416.2 75.0 107.4 25.1 389.7 57.1 91.5 18.2 
Total Regulatory Liabilities4,547.2 1,459.9 1,850.3 495.2 4,468.7 1,459.8 1,787.3 501.6 
Less:  Current Portion652.4 251.6 279.3 106.4 602.4 266.5 228.2 120.2 
Total Long-Term Regulatory Liabilities$3,894.8 $1,208.3 $1,571.0 $388.8 $3,866.3 $1,193.3 $1,559.1 $381.4