Derivative and Hedging Instruments (Tables)

6 Months Ended

Jun. 30, 2013

Derivative and Hedging Instruments (Tables) [Abstract]

Gross Notional Volume of Open Derivatives

	June 30, 2013	December 31, 2012
Commodity derivative contracts	277,295 MWh	444,650 MWh
Commodity derivative contracts	2,940,000 Dth	1,980,000 Dth
FTRs	4,598 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
June 30, 2013
Commodity derivative contracts	Other current assets	$	521	Derivative liability (current)	$	241
Commodity derivative contracts	Other deferred charges		32	Derivative liability (long-term)		17
FTRs	Other current assets		786	Derivative liability (current)		0
Ten-year PPA	N/A		N/A	Derivative liability (current)		9,200
Ten-year PPA	N/A		N/A	Derivative liability (long-term)		58,530
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
June 30, 2013
Commodity derivative contracts	$	553	$	(258)	$	-	$	295
FTRs		786		-		-		786
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
June 30, 2013
Commodity derivative contracts	$	258	$	(258)	$	-	$	-
Ten-year PPA		67,730		-		-		67,730
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 June 30:
Balance at April 1,	$	69,197	$	259	$	71,514	$	672
Change in unrealized (gain) loss		(1,963)		0		9,791		0
Realized loss reclassified to a deferred account		(388)		388		(222)		222
Realized gain (loss) reclassified to income
statement		(197)		11		(1,721)		(176)
Balance at June 30,	$	66,649	$	658	$	79,362	$	718
Six Months Ended June 30:
Balance at January 1,	$	72,329	$	574	$	42,356	$	1,604
Change in unrealized (gain) loss		(3,660)		0		43,101		0
Realized loss reclassified to a deferred account		(678)		678		(2,880)		2,880
Realized loss reclassified to income
statement		(1,342)		(594)		(3,215)		(3,766)
Balance at June 30,	$	66,649	$	658	$	79,362	$	718

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 June 30, 2013:
Commodity derivative contracts	$	0	$	(538)	$	0
FTRs		0		(351)		0
Ten-year PPA		0		1,075		0
Three Months Ended June 30, 2012:
Commodity derivative contracts	$	0	$	582	$	0
FTRs		0		96		0
Ten-year PPA		0		1,219		0
Six Months Ended June 30, 2013:
Commodity derivative contracts	$	0	$	(516)	$	608
FTRs		0		(509)		0
Ten-year PPA		0		2,353		0
Six Months Ended June 30, 2012:
Commodity derivative contracts	$	0	$	2,510	$	3,090
FTRs		0		162		0
Ten-year PPA		0		1,219		0