Derivative and Hedging Instruments (Tables)

3 Months Ended

Mar. 31, 2013

Derivative and Hedging Instruments (Tables) [Abstract]

Gross Notional Volume of Open Derivatives

	March 31, 2013	December 31, 2012
Commodity derivative contracts	331,315 MWh	444,650 MWh
Commodity derivative contracts	1,360,000 Dth	1,980,000 Dth
FTRs	1,085 MW	2,670 MW

Fair Value of Derivative Instruments on the Balance Sheet

	Asset Derivatives			Liability Derivatives
(In thousands)	Balance Sheet Location		Fair Value	Balance Sheet Location		Fair Value
March 31, 2013
Commodity derivative contracts	Other current assets	$	1,343	Derivative liability (current)	$	30
Commodity derivative contracts	Other deferred charges		158	Derivative liability (long-term)		0
FTRs	Other current assets		22	Derivative liability (current)		0
Ten-year PPA	N/A		N/A	Derivative liability (current)		8,880
Ten-year PPA	N/A		N/A	Derivative liability (long-term)		61,810
December 31, 2012
Commodity derivative contracts	Other current assets	$	365	Derivative liability (current)	$	394
Commodity derivative contracts	Other deferred charges		95	Derivative liability (long-term)		11
FTRs	Other current assets		206	Derivative liability (current)		0
Ten-year PPA	N/A		N/A	Derivative liability (current)		9,270
Ten-year PPA	N/A		N/A	Derivative liability (long-term)		63,320

Offsetting Assets

Offsetting of Derivative Assets
				Gross amounts		Collateral		Net amount
				offset in		posted against		presented in
(In thousands)		Gross amounts		balance sheet		derivative positions		balance sheet
March 31, 2013
Commodity derivative contracts	$	1,502	$	(30)	$	(465)	$	1,007
FTRs		22		-		-		22
December 31, 2012
Commodity derivative contracts	$	460	$	(405)	$	-	$	55
FTRs		206		-		-		206

Offsetting Liabilities

Offsetting of Derivative Liabilities
				Gross amounts		Collateral		Net amount
				offset in		posted against		presented in
(In thousands)		Gross amounts		balance sheet		derivative positions		balance sheet
March 31, 2013
Commodity derivative contracts	$	30	$	(30)	$	-	$	-
Ten-year PPA		70,690		-		-		70,690
December 31, 2012
Commodity derivative contracts	$	405	$	(405)	$	-	$	-
Ten-year PPA		72,590		-		-		72,590

Derivative Gains and Losses in Balance Sheet

		2013				2012
(In thousands)		Current and long-term regulatory asset		Other current assets		Current and long-term regulatory asset		Other current assets
Three Months Ended March 31:
Balance at January 1,	$	72,329	$	574	$	42,356	$	1,604
Change in unrealized (gain) loss		(1,697)		0		33,310		0
Realized loss reclassified to a deferred account		(290)		290		(2,658)		2,658
Realized loss reclassified to income
statement		(1,145)		(605)		(1,494)		(3,590)
Balance at March 31,	$	69,197	$	259	$	71,514	$	672

Derivative Gains and Losses in Income Statement

		Realized losses (gains)
				Fuel for electric
		Regulated		generation/		Cost of
(In thousands)		gas revenues		purchased power		gas sold
Three Months Ended March 31, 2013:
Commodity derivative contracts	$	0	$	22	$	608
FTRs		0		(158)		0
Ten-year PPA		0		1,278		0
Three Months Ended March 31, 2012:
Commodity derivative contracts	$	0	$	1,928	$	3,090
FTRs		0		66		0
Ten-year PPA		0		0		0