DERIVATIVE INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Gross Fair Values and Net Amounts of Contracts

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 September 30, 2022						As of December 31, 2021
CL&P (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	Level 3	$	15.7	$	(0.5)	$	15.2	$	14.7	$	(1.0)	$	13.7
Long-Term Derivative Assets	Level 3	32.8		(1.0)		31.8		46.9		(0.9)		46.0
Current Derivative Liabilities	Level 3	(78.6)		—		(78.6)		(73.5)		—		(73.5)
Long-Term Derivative Liabilities	Level 3	(164.3)		—		(164.3)		(235.4)		—		(235.4)

    (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.

Summary of Level 3 Derivative Contracts and Significant Unobservable Inputs Used

The following is a summary of the significant unobservable inputs utilized in the valuations of the derivative contracts classified as Level 3:

	As of September 30, 2022								As of December 31, 2021
CL&P	Range				Average			Period Covered	Range				Average			Period Covered
Forward Reserve Prices	$	0.44	—	$0.50	$	0.47	per kW-Month	2023 - 2024	$	0.50	—	$1.15	$	0.82	per kW-Month	2022 - 2024

Changes in the Level 3 Category of Derivative Assets Measured at Fair Value on a Recurring Basis

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	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
(Millions of Dollars)	2022		2021		2022		2021
Derivatives, Net:
Fair Value as of Beginning of Period	$	(213.3)	$	(279.7)	$	(249.2)	$	(293.1)
Net Realized/Unrealized Gains/(Losses) Included in Regulatory Assets	2.4		0.7		11.2		(10.9)
Settlements	15.0		13.7		42.1		38.7
Fair Value as of End of Period	$	(195.9)	$	(265.3)	$	(195.9)	$	(265.3)