Risk Management and Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2011

Risk Management and Derivative Financial Instruments

Schedule of fair value of derivative financial instruments, balance sheet classification

		September 30,		December 31,
ASSET DERIVATIVES		2011		2010
Non-designated hedging instruments due to regulatory accounting	Balance Sheet Classification	Fair Value		Fair Value
Natural gas contracts, gas segment	Current assets	$	—	$	39
	Non-current assets and deferred charges	—		117
Natural gas contracts, electric segment	Current assets	—		—
	Non-current assets and deferred charges	—		77
Total derivatives assets		$	—	$	233

		September 30,		December 31,
LIABILITY DERIVATIVES		2011		2010
Non-designated hedging instruments due to regulatory accounting	Balance Sheet Classification	Fair Value		Fair Value
Natural gas contracts, gas segment	Current liabilities	$	469	$	252
	Non-current liabilities and deferred credits	73		2
Natural gas contracts, electric segment	Current liabilities	2,933		508
	Non-current liabilities and deferred credits	2,912		3,562
Total derivatives liabilities		$	6,387	$	4,324

Schedule of derivatives in cash flow hedging relationships, income statement classification of gain/(loss) and comprehensive income - electric segment

Derivatives in Cash Flow Hedging	Income Statement Classification of	Amount of Gain / (Loss) Reclassed from OCI into Income (Effective portion)
Relationships -	Gain / (Loss) on	Three Months Ended					Nine Months Ended					Twelve Months Ended
Electric Segment	Derivative	2011		2010			2011		2010			2011		2010
Commodity contracts	Fuel and purchased power expense	$	—	$	(4,864	)	$	—	$	(5,814	)	$	—	$	(6,703	)
Total Effective — Electric Segment		$	—	$	(4,864	)	$	—	$	(5,814	)	$	—	$	(6,703	)

Derivatives in Cash Flow Hedging	Statement of	Amount of Gain / (Loss) Recognized in OCI on Derivative (Effective portion)
Relationships -	Comprehensive	Three Months Ended					Nine Months Ended					Twelve Months Ended
Electric Segment	Income	2011		2010			2011		2010			2011			2010
Commodity contracts	Net change in fair value	$	—	$	(1,934	)	$	—	$	(7,258	)	$	(896	)	$	(9,278	)
Total Effective — Electric Segment		$	—	$	(1,934	)	$	—	$	(7,258	)	$	(896	)	$	(9,278	)

Schedule of mark-to-market pre-tax gains/(losses) from non-designated derivative instruments - electric segment

Non-Designated Hedging Instruments - Due to	Balance Sheet Classification of	Amount of (Loss) Recognized on Balance Sheet
Regulatory Accounting	Gain / (Loss) on	Three Months Ended						Nine Months Ended						Twelve Months Ended
Electric Segment	Derivatives	2011			2010			2011			2010			2011			2010
Commodity contracts	Regulatory (assets)/liabilities	$	(2,022	)	$	(1,646	)	$	(2,758	)	$	(3,384	)	$	(3,165	)	$	(3,840	)
Total Electric Segment		$	(2,022	)	$	(1,646	)	$	(2,758	)	$	(3,384	)	$	(3,165	)	$	(3,840	)

Non-Designated Hedging Instruments - Due to	Statement of Operations Classification of	Amount of (Loss) Recognized in Income
Regulatory Accounting	Gain / (Loss) on	Three Months Ended						Nine Months Ended						Twelve Months Ended
Electric Segment	Derivatives	2011			2010			2011			2010			2011			2010
Commodity contracts	Fuel and purchased power expense	$	(966	)	$	(363	)	$	(1,358	)	$	(760	)	$	(1,441	)	$	(859	)
Total Electric Segment		$	(966	)	$	(363	)	$	(1,358	)	$	(760	)	$	(1,441	)	$	(859	)

Schedule of volumes and percentage of anticipated volume of natural gas usage for entity's electric operations

Dth Hedged

Year	% Hedged		Physical	Financial	Average Price
Remainder 2011	44	%	327,500	—	$	7.085
2012	60	%	2,325,000	1,420,000	$	6.618
2013	41	%	2,020,000	1,440,000	$	6.079
2014	20	%	460,000	1,120,000	$	5.607
2015	7	%	—	700,000	$	5.562

Schedule of minimum percentage hedged by year in the entity's procurement guidelines

Year	Minimum % Hedged
Current	Up to 100%
First	60%
Second	40%
Third	20%
Fourth	10%

Schedule of minimum percentage of winter season usage hedged by year of the entity's gas operations

Season	Minimum % Hedged	Dth Hedged Financial	Dth Hedged Physical	Dth in Storage	Actual % Hedged
Current	50%	790,000	222,200	1,532,769	70	%
Second	Up to 50%	310,000	—	—	7	%
Third	Up to 20%	—	—	—	—	%
Total		1,100,000	222,200	1,532,769

Schedule of non-designated hedging instruments due to regulatory accounting - gas segment

Non-Designated Hedging	Balance Sheet Classification of	Amount of (Loss) Recognized on Balance Sheet
Instruments Due to Regulatory	Gain / (Loss) on	Three Months Ended						Nine Months Ended						Twelve Months Ended
Accounting - Gas Segment	Derivatives	2011			2010			2011			2010			2011			2010
Commodity contracts	Regulatory (assets)/liabilities	$	(572	)	$	(602	)	$	(842	)	$	(781	)	$	(688	)	$	(283	)
Total - Gas Segment		$	(572	)	$	(602	)	$	(842	)	$	(781	)	$	(688	)	$	(283	)