Derivative and Hedging Instruments (Tables)

12 Months Ended

Dec. 31, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Gross Notional Volume of Open Derivatives

The gross notional volume of open derivatives is as follows:

	December 31, 2013	December 31, 2012
Commodity derivative contracts	458,660MWh	444,650MWh
Commodity derivative contracts	3,750,000Dth	1,980,000Dth
FTRs	1,984MW	2,670MW

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
December 31, 2013
Commodity derivative contracts	Other current assets	$	1,356	Derivative liability (current)	$	51
Commodity derivative contracts	Other deferred charges		167	Derivative liability (long-term)		48
FTRs	Other current assets		363	Derivative liability (current)		0
Ten-year PPA	N/A		N/A	Derivative liability (current)		7,750
Ten-year PPA	N/A		N/A	Derivative liability (long-term)		57,930
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

The following tables show the effect of netting arrangements for recognized derivative assets and liabilities that are subject to a master netting arrangement or similar arrangement on the balance sheet.

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
December 31, 2013
Commodity derivative contracts	$	1,523	$	(99)	$	(175)	$	1,249
FTRs		363		-		-		363
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
December 31, 2013
Commodity derivative contracts	$	99	$	(99)	$	-	$	-
Ten-year PPA		65,680		-		-		65,680
December 31, 2012
Commodity derivative contracts	$	405	$	(405)	$	-	$	-
Ten-year PPA		72,590		-		-		72,590

Derivative Gains and Losses in Balance Sheet

The following tables summarize the unrealized and realized gains (losses) related to the derivative instruments on the consolidated balance sheet at December 31, 2013 and 2012, and the consolidated income statement for the year ended December 31, 2013 and 2012.

		2013				2012
(In thousands)		Current and Long-Term Regulatory Asset		Other Current Assets		Current and Long-Term Regulatory Asset		Other Current Assets
Year Ended December 31:
Balance at January 1,	$	72,329	$	574	$	42,356	$	1,604
Change in unrealized loss		(5,069)		0		37,822		0
Realized loss reclassified to a deferred account		(823)		823		(2,857)		2,857
Realized loss reclassified to income statement		(2,544)		(986)		(4,992)		(3,887)
Balance at December 31,	$	63,893	$	411	$	72,329	$	574

Derivative Gains and Losses in Income Statement

		Realized losses (gains)
		Fuel for Electric
		Generation/		Cost of
(In thousands)		Purchased Power		Gas Sold
Year Ended December 31, 2013:
Commodity derivative contracts	$	(564)	$	868
FTRs		(983)		0
Ten-year PPA		4,209		0
Year Ended December 31, 2012:
Commodity derivative contracts	$	2,620	$	3,072
FTRs		(45)		0
Ten-year PPA		3,232		0