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FAIR VALUE MEASUREMENTS (Tables)
 3 Months Ended
Mar. 31, 2015
Fair Value Measurements  
Schedule of transmission congestion rights (TCR) and commodity contracts measured at fair value

The following fair value hierarchy table presents information about our TCR and commodity contracts measured at fair value as of March 31, 2015 and December 31, 2014 (in thousands):

 

 

 

Fair Value Measurements at Reporting Date Using

 

Description

 

Assets/(Liabilities)
at Fair Value

 

Quoted Prices in Active
Markets for Identical
Assets/(Liabilities)
(Level 1)

 

Significant Other 
Observable
Inputs
(Level 2)

 

Significant
Unobservable
Inputs
(Level 3)

 

 

 

March 31, 2015

 

Derivative assets

 

$
1,466

 

$

—

 

$
1,466

 

$

—

 

Derivative liabilities

 

$
(11,173

)

$
(11,173

)

$

—

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2014

 

Derivative assets

 

$
3,901

 

$
1

 

$
3,900

 

$

—

 

Derivative liabilities

 

$
(9,712

)

$
(9,712

)

$

—

 

$

—

 

 

 

*The only recurring measurements are derivative related.